Gold prices surged to record highs on Sunday before retreating on Monday as uncertainty loomed over the possibility of a rate cut. Despite the dip, investors remain optimistic about the precious metal’s performance in the coming weeks.
In other news, General Electric announced its plans to split into two separate companies – GE Vernova and GE Aerospace – on Tuesday. This move is expected to streamline operations and improve efficiency for the conglomerate.
Meanwhile, 3M completed the spinoff of its healthcare business and settled a lawsuit related to “forever chemicals.” The company’s stock rose following the news, reflecting investor confidence in its future prospects.
Micron also saw a significant boost in its stock price after Bank of America raised its price target, pushing the shares to a record high. However, AT&T shares slipped after announcing a data breach that affected millions of customers.
In a surprising development, UPS replaced FedEx as the primary air cargo provider for USPS, leading to a shift in premarket stock moves. Li Auto Inc. reported better-than-expected deliveries in March, while 3M shares rose following the healthcare spinoff and legal settlement approval.
UPS also saw gains after securing the contract with USPS, while MicroStrategy Inc. shares fell after its Chairman sold shares following a surge in bitcoin stock. AT&T shares dropped after the announcement of a data breach, highlighting the challenges faced by the telecommunications company.
Overall, the market remains volatile as companies navigate the ongoing economic uncertainties and changes in consumer behavior. Investors are advised to closely monitor developments and adjust their strategies accordingly to capitalize on potential opportunities in the stock market.
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