Market Today: Rumble Soars with Tether Investment, BofA Faces Compliance Order

GuruFocus12-24 06:32

Market Overview The major indices experienced gains at the beginning of this holiday-shortened week. The "Santa Claus rally" period, which typically results in positive movements in equities, starts ...

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The \"Santa Claus rally\" period, which typically results in positive movements in equities, starts ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2639963/market-today-rumble-soars-with-tether-investment-bofa-faces-compliance-order\">Source Link</a>\n\n</div>\n","source":"gurufocus_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Today: Rumble Soars with Tether Investment, BofA Faces Compliance Order</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Today: Rumble Soars with Tether Investment, BofA Faces Compliance Order\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-24 06:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2639963/market-today-rumble-soars-with-tether-investment-bofa-faces-compliance-order><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Market Overview The major indices experienced gains at the beginning of this holiday-shortened week. The \"Santa Claus rally\" period, which typically results in positive movements in equities, starts ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2639963/market-today-rumble-soars-with-tether-investment-bofa-faces-compliance-order\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0154236417.USD","symbol_name":"BGF US FLEXIBLE EQUITY \"A2\" ACC","start_time":0,"source_url":"https://www.gurufocus.com/news/2639963/market-today-rumble-soars-with-tether-investment-bofa-faces-compliance-order","article_id":"2493712237","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493712237","pubTimestamp":1734993135,"columns":[],"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"Market Overview The major indices experienced gains at the beginning of this holiday-shortened week. 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The \"Santa Claus rally\" period, which typically results in positive movements in equities, starts tomorrow. Although today is not officially part of this rally, many stocks closed higher.The Dow Jones Industrial Average ended 0.2% higher, despite trading slightly lower than Friday's close for most of the session. Both the S&P 500 and Nasdaq Composite traded above their previous closing levels, supported by gains in mega-cap and semiconductor-related stocks.Semiconductor and Mega Cap Highlights Qualcomm (QCOM) rose 3.5% to $158.24 after a favorable jury decision regarding its agreement with Arm Holdings (ARM), which fell 4.0% to $126.87. NVIDIA (NVDA) increased by 3.7% to $139.67, while Broadcom (AVGO) gained 5.5% to $232.35, contributing to a 3.1% rise in the PHLX Semiconductor Index (SOX). Eli Lilly (LLY) saw a 3.7% increase to $796.28 following FDA approval of Zepbound (tirzepatide) for treating moderate-to-severe obstructive sleep apnea in adults with obesity.Sector Performance Eight out of the eleven S&P 500 sectors closed higher, with notable gains in:Today's NewsRumble (RUM, Financial) shares nearly doubled after securing a $775 million investment from Tether. The funds will be used for growth initiatives and a self-tender offer for up to 70 million shares at $7.50 each. Despite Tether acquiring a minority stake, it will not appoint board members. The stock's trading volume surged significantly, reflecting high investor interest.Bank of America (BAC, Financial) received a cease-and-desist order from the Office of the Comptroller of the Currency for violations related to its Bank Secrecy Act and sanctions compliance programs. The order mandates hiring an independent consultant to improve compliance and review past activities. BAC shares declined by 1.2% following the announcement.Starbucks (SBUX, Financial) shares fell for the eighth consecutive session, closing at $87.44. The stock has declined over 10% in recent weeks and 8.7% year-to-date, underperforming the broader market. Analysts remain cautious, with mixed ratings from Wall Street and Seeking Alpha.Tonix Pharmaceuticals (TNXP, Financial) received a target action date from the FDA for its non-opioid pain drug TNX-102 SL, aimed at treating fibromyalgia. The drug, which received Fast Track Designation, is under review, potentially impacting future market opportunities for the company.APA Corporation (APA, Financial) announced the pricing terms for its cash tender offers, aiming to purchase up to $1 billion in notes. The company has adjusted the caps for different series of notes, with the 2040 Notes being prioritized for the tender offer.POET Technologies (POET, Financial) signed agreements with Globetronics Manufacturing to produce optical engines in Malaysia. The collaboration involves assembly and testing based on POET's exclusive designs, marking a significant step in its manufacturing strategy.Rocket Companies (RKT, Financial) faced a lawsuit from the Consumer Financial Protection Bureau over alleged illegal kickbacks by its Rocket Mortgages unit. The CFPB claims the company discouraged real estate brokers from sharing competitive product information, impacting consumer choices.Anavex Life Sciences (AVXL, Financial) saw a 30% stock rally after reporting its fiscal Q3 earnings and announcing EU acceptance of its Alzheimer's drug application. The drug, blarcamesine, offers a potential alternative to existing treatments and does not require MRI monitoring.Abbott (ABT, Financial) and DexCom (DXCM, Financial) settled a patent dispute over continuous glucose monitors. The agreement resolves all pending cases and prevents future disputes for ten years, without any financial settlement between the parties.Nordstrom (JWN, Financial) agreed to a buyout led by the Nordstrom family and Mexican retailer El Puerto de Liverpool. The deal offers a 42% premium to shareholders, with the family retaining a majority stake. This move comes amid strategic shifts in the retail landscape.Microsoft (MSFT, Financial) plans to integrate AI models from other companies into its Office 365 Copilot products, reducing reliance on OpenAI. This decision addresses cost and speed concerns for enterprise users, reflecting Microsoft's strategic AI deployment adjustments.Valero Energy (VLO) shares halted a losing streak, closing slightly higher. Despite recent declines, the stock remains under pressure due to market conditions and regulatory challenges, including a significant fine for air quality violations.Altus Power is in talks with TPG's climate investment arm for a potential acquisition. The deal, if successful, would enhance Altus's position in the solar power sector, aligning with TPG's sustainability-focused investment strategy.GuruFocus Stock AnalysisNo Cheap Stocks Anymore? Yes There Are by John DorfmanNetflix Sues VMware for Patent Infringement Amid Live Sports Push by Faizan FarooqueFedEx to Spin Off FedEx Freight as a Separate Public Company by ShantiPutriMicrosoft Expands AI Model Strategy for Cost-Effective 365 Copilot by Faizan FarooqueTesla, Meta, and Broadcom Weights Reduced in Nasdaq 100 Rebalance by Faizan Farooque","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493712237"}