Stock Market Winners & Losers: Stocks Open Steady Ahead of Holiday | The Explosive $$$ Growth of Fireworks | Invest in Air Conditioner Stocks
The S&P 500 and Nasdaq opened higher, with Nasdaq hitting a record high. ADP data showed less private payroll growth than expected in June, and weekly jobless claims were higher than forecast. The service sector indicated a contraction. Tesla's 24% week-to-date jump led sector gains. Fireworks regulations started in 1972, making them safer, with consumer fireworks revenue growing from $407 million in 2000 to $2.3 billion in 2022. Americans bought 461.7 million pounds of fireworks last year, with COVID-19 partly driving the surge. Over 97% of fireworks are made in China, and 10,163 Americans were injured by fireworks in 2022. Despite record temperatures, air conditioner stocks have soared, with the market expected to grow at a 6.2% annual rate from 2022 to 2028, reaching $172.48 billion by 2028. Notable stocks include Carrier Global (up 307% in five years), Emerson Electric (up 85%), and Trane Technologies (up 345%).
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