Stock Market Winners & Losers: Nasdaq Rises Fresh Record High Boosted by Nvidia | New Weight-Loss Drugs Soar Amongst Kids & Young Adults | Average US Vehicle Age Hits Record 12.6 Years
The Nasdaq reached a new record high on Thursday, driven by a 10% surge in Nvidia's stock following strong earnings and a 10-for-1 stock split announcement. The S&P 500 also edged up by 0.1%, hitting a record earlier in the session. The Justice Department filed a lawsuit to break up Live Nation, which controls over 80% of major concert ticketing. Meanwhile, the use of weight-loss drugs like Ozempic and Wegovy has soared among young people, with notable increases in those aged 12 to 25. The average age of vehicles in the U.S. hit a record 12.6 years, as high new car prices, averaging just over $45,000, deter many from buying new vehicles. Despite a slight drop in prices from the December 2022 peak, high costs and lengthy loan terms are barriers for many households. This aging vehicle trend benefits repair shops, with O'Reilly and AutoZone exceeding earnings estimates.
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