Tuesday, July 27

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Twitter could rise another 30% as ad spending is set to soar, Bank of America says

Twitter CEO Jack Dorsey. PRAKASH SINGH/AFP via Getty Images Twitter stock could rise by almost 30% to $90 per share, according to Bank of America analysts. BofA sees Twitter expanding in its advertising growth which took a hit during the COVID-19 pandemic. BofA reiterated its buy rating on the stock. See more stories on Insider's business page. Twitter stock could rise by about 30% as the social media platform stands to see further growth in advertising sales which have been recovering after the onset of the coronavirus pandemic, Bank of America said Friday. Twitter's own outlook for the third quarter points to optimism about its business prospects, the investment bank said in a research note in which it raised its price objective and reiterated its buy rating on the stock. Th...
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Dow slides 300 points to cap off first weekly decline in a month amid inflation worries

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, US, March 3, 2020. Andrew Kelly/Reuters US stocks fell on Friday and recorded their first weekly loss in a month, with stocks dropping about 1% as investor concerns about rising inflation continued to weigh on prospects of an economic recovery.On Thursday, Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen Both expressed concerns at the current pace of rising inflation and expect the trend to continue over the next few months before cooling down as supply chain disruptions are resolved.If inflation doesn't cool off soon, the Fed may be forced to hasten its hawkish policies like rolling back monthly bond purchases and raising interest rates, which could hurt risk assets like s...
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US stocks gain as jump in retail sales in June points to steady pace of economic recovery

Xinhua/Wang Ying/ Getty Images US stocks edged higher on Friday amid June retail sales data that showed a surprise increase of 0.6%, besting expectations of a 0.4% decline. US consumers spent $621 billion at retail stores in June, signaling that the ongoing economic recovery from the pandemic is accelerating as more people get vaccinated from COVID-19.The move higher in stocks came a day after a market sell-off that was spurred by investor concerns over rising inflation. Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen Both expressed concerns at the pace of rising inflation and expect the trend to continue over the next few months before cooling down as supply chain disruptions are resolved.Here's where US indexes stood shortly after the 9:30 am ET open on Friday: ...