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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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On last Saturday, a class-action settlement with the National Association of Realtors (NAR) went into effect, ripping up the playbook on how real estate agents are compensated. The NAR was accused of artificially inflating commission rates, which have historically ranged from 5% to 6%, a higher fee than the rest of the world. Consumer advocates hope the new rules will lead to lower commissions, shift power away from agents, and add transparency into what’s been an opaque system.

CITE: https://www.r2library.com/Resource

What’s up

• AMD rose 4.52% on the news that it will acquire server manufacturer ZT Systems for $4.9 billion. While this escalates the AI arms race, competitor Nvidia rose 4.35% regardless.
• FuboTV soared yet another 17.65% after a judge temporarily blocked the launch of a sports streaming service created by Disney, Warner Bros. Discovery, and Fox last week.
• McDonald’s climbed 3.25% after Evercore ISI analysts raised their price target for the stock to $320 per share.
• Zim Integrated Shipping Services rocketed 16.74% higher after the marine shipping company posted impressive earnings and raised its full-year guidance.

What’s down

• Trump Media & Technology Group fell 3.56% as the Democratic National Convention kicks off in Chicago today, with investors fretful that the stock could be more volatile than usual during the event.
• HP sank 3.65% after Morgan Stanley analysts downgraded the stock from Equal Weight to Overweight, though they kept their price target the same.
• Sweetgreen dropped 6.82% thanks to Piper Sandler analysts downgrading the stock from Overweight to Neutral after the company’s big pop last week made shares too pricey.

CITE: https://tinyurl.com/2h47urt5

Here’s where the major benchmarks ended:

• The S&P 500 index rose 54.00 points (0.97%) to 5,608.25; the Dow Jones Industrial Average^® ($DJI) added 236.77 points (0.58%) to 40,896.53; the NASDAQ Composite^®($COMP) points increased 245.05 (1.39%) to 17, 876.77.
• The 10-year Treasury note yield (TNX) fell about two basis points to just under 3.87%.
• The CBOE Volatility Index^® (VIX) fell to 14.61, near one-month lows.

CITE: https://tinyurl.com/tj8smmes

Stat: 12%. That’s how much mpox vaccine maker Bavarian Nordic’s stock shot up after the WHO declared a global health emergency. (Fortune)

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