US Stock Reports, Quotes and News
Trump Media & Technology Group (DJT) sent a letter to Nasdaq\’s CEO on Thursday warning of \”potential market manipulation\” of the company\’s stock via the \”naked\” short selling of shares.
(Reuters) – Shares of Donald Trump\’s media and technology company were up more than 3% on Friday after it asked the Nasdaq exchange to help prevent \”naked\” short-selling in its shares.
The Dow Jones Industrial Average rose 26.60 points, or 0.07%, at the open to 37,801.98.
The Dow Jones Industrial Average rose 93.90 points, or 0.25%, at the open to 37,847.21.
Both the S&P 500 and the Nasdaq are nearly 4% off from record high levels reached last month, as traders sharply readjusted their expectations of how much the Fed would cut rates this year.
Trump Media & Technology Group closed down 18.4% at $26.61 as more of the euphoria that surrounded the stock fades. It\’s a sharp comedown since nearing $80 after the owner of Truth Social merged with a shell company to get its stock trading on the Nasdaq under the symbol \”DJT,\” for Trump\’s initials.
With the S&P 500 coming off its biggest one-day percentage drop since Jan. 31 in the prior session, stocks opened higher in part after data showed retail sales increased by more than expected in March.
Dow & S&P 500 faced weekly losses as megacap stocks and chipmakers retreated. Banks reported lower profits. Tech giants like Nvidia, Tesla, Meta Platforms saw declines. Chinese officials\’ chip phase-out impacted Advanced Micro Devices and Intel.