US Stock Market Value Hits Historic 200% of GDP, Signaling Tech Dominance
The US stock market's total value has surpassed 200% of GDP for the first time, reaching $60 trillion versus $29.354 trillion in GDP. This milestone highlights American tech giants' global dominance, with just three companies - Nvidia, Apple, and Microsoft - exceeding $10 trillion in combined market value.
TSMC Secures $6.6B Federal Grant to Boost U.S. Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Company receives major federal funding to build three advanced chip facilities in Arizona, marking a strategic move to strengthen domestic semiconductor production. The $6.6B grant supports TSMC's $65B investment plan and aims to create thousands of high-tech jobs while reducing U.S. dependence on overseas chip manufacturing.
Johnson & Johnson Stock Dips Following Mixed Q1 Results and Revised 2024 Outlook
Healthcare giant Johnson & Johnson experienced a 2% stock decline after reporting mixed Q1 2024 results, with revenue beating expectations but earnings falling short. The company narrowed its full-year guidance amid market uncertainties while maintaining its status as a dividend aristocrat.