Stocks Mixed as Traders Await Fed Speeches and Data; Buffett's Berkshire Surges While FTC Blocks Kroger Deal
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Stocks fell Monday, with the S&P 500 dropping 0.4%, ahead of economic data and Fed speeches later this week. Warren Buffett's Berkshire Hathaway reported strong Q4 results Saturday.
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The Federal Trade Commission sued to block Kroger's proposed $25 billion acquisition of Albertsons, saying it would lead to higher prices. Kroger shares fell nearly 2%.
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Chip stocks rallied, lifted by Nvidia partnerships related to AI and networking solutions. Nvidia ticked up 0.4%; Micron jumped over 6%.
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Salesforce shares climbed over 3% ahead of its earnings report Wednesday, with analysts expecting the company to swing back to profitability in Q4.
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Amazon replaced Walgreens Boots Alliance in the Dow Jones Industrial Average, reflecting the evolving nature of the economy. Walgreens shares have plunged 67% since joining the Dow in 2018.