Due to the S&P 500's recent 2% decline, following a streak of 23 out of 30 weeks of gains, some investors fear it may signal an impending recession, drawing comparisons to the 1929 Depression. Dell's unexpected resurgence in the tech sector, fueled by advancements in AI technology, has propelled the company ahead of Nvidia and earned it anticipation for inclusion in the S&P 500. The standout performer in the market has been Abercrombie and Fitch, boasting its best quarterly sales ever with a 22% increase and $1.02 billion in revenue. Exxon Mobil saw 95% of shareholders vote to reelect all 12 directors, dealing a blow to climate activists. The company persists in lawsuits against activist investor groups despite the withdrawal of their proposals. In other fossil fuel news, crude oil prices have surged nearly 10%, while ConocoPhillips is set to acquire Marathon for $17 billion, underscoring the industry's growth despite ongoing emissions concerns.
Bulletin Brief:
Trends in S&P 500 indicate possible recession (MB)
Dell makes strides with AI technology (MB, Barrons)
Nvidia CEO complements Dell (indiatimes)
Abercrombie reports huge sale and revenue increase (MB, CNBC)
95% of shareholders side with Exxon amid climate change controversy (MB)
Crude oil prices rise and ConocoPhillips acquires Marathon (MB, Bloomberg)
