MARKET HIGHLIGHTS
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market highlights
GOOD WEEK
Peloton (PTON +8.32%) shares jumped on after announcing a partnership with TikTok. As part of the deal, Peloton content will be featured on a dedicated fitness hub on the platform. Peloton Interactive is an American exercise equipment and media company based in New York City.
Tutor Perini Corporation's (TPC +1.14%) subsidiary won the New Residence Hall project, boosting revenue, backlog, and growth prospects, with stable post-announcement share sentiment. Tutor Perini Corporation is a construction company that specializes in a range of infrastructure projects.
BAD WEEK
Remy Cointreau (REMYY -11.68%) made a loss due to China's anti-dumping investigation targeting French cognac, which created uncertainties and market concerns for producers like Remy in the lucrative Chinese market.
Marathon Digital Holdings, Inc. (MARA -8.18%) is a digital asset technology company, which engages in mining cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. Marathon's shares are plummeting amidst growing debt, valuation disparities with competitors and looming uncertainties tied to the impending Bitcoin halving that threatens further profitability challenges.
WHAT ELSE HAPPENED
The market experienced strong economic growth, benefiting consumer spending and business profits, while inflation remained low enough for the Fed to consider cutting interest rates.
The recent dip in stocks and a rise in interest rates, halting the S&P 500's impressive nine-week ascent. Given the market's robust gains in recent months, a momentary pause was anticipated.
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