Stocks Hit Record Highs as Fed Holds Steady on Rates, Boeing and Chipotle Surge on Stock Split and Probe Update
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Stocks climbed to record highs and Treasury yields fell after the Fed left rates unchanged and reiterated expectations for 3 rate cuts this year.
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Boeing shares rose as its CFO outlined how the jetmaker is addressing a federal probe into its safety standards and the impact on 2024 results.
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Chipotle stock jumped after announcing a 50-for-1 stock split to make shares more accessible to staff and broader range of investors.
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PDD Holdings, parent of Temu, surged after blowing past Q4 earnings estimates on strong e-commerce growth.
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Intel rose after being awarded up to $8.5B in CHIPS Act grants to expand production facilities in 4 states.