Block soars on news it’s joining the S&P 500

Fintech giant Block rose roughly 10% in aftermarket trading on news that the company is set to replace Hess in the S&P 500 on Wednesday, July 23.

The announcement from S&P Global came after trading hours on Friday. Getting added to the benchmark index that underpins millions of portfolios and funds usually coincides with a rally in the stock.

Block, which owns Cashapp and Square, was down 14% this year as of market close on Friday.

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Stocks climb higher as investors shake off hawkish Fed commentary

The S&P 500 and Nasdaq 100 continued their streak of monthly wins.

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Western Digital Stock Rallies as Wall Street Raises Estimates

Western Digital rallies as Wall Street sees more gains ahead

Analysts responded to yesterday’s Western Digital earnings by rapidly ramping up price targets.

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December rate cut odds creep lower with Federal Reserve hawks out in full force

A cacophony of hawkish commentary.

Federal Reserve To Make Highly Anticipated Interest Rate Announcement This Week

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Gene-editing stocks rally on Bloomberg report that FDA plans to fast-track approval process

Shares of biotechs working with gene-editing treatments rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.

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Amazon pulled off its monster quarter despite being left out of OpenAI’s tangle of deals

Amazon’s AWS revenue grew 20% year on year, and will hit $125 billion in capex for the year. CEO Andy Jassy said the 14,000 jobs cut weren’t about money, but about “culture.”

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