Stocks rose on Thursday, influenced in part by a slight decrease in the yield of the 10-year Treasury.
Ray Dalio, billionaire investor and founder of Bridgewater Associates, expressed concerns about the U.S. fiscal situation, forecasting a possible debt crisis. He emphasized the rapidly escalating U.S. debt, which surpassed $33 trillion, and linked its rise to increased federal spending over recent years. Dalio also predicted a potential slowdown in economic growth.
On the stocks front, CarMax saw a decline after reporting reduced revenue, while Jabil experienced growth following positive Q4 earnings. Chico's Fas will be acquired by Sycamore Partners, leading to a significant stock surge. Workday's stock decreased after revising its revenue growth target. Trimble gained after AGCO announced a significant investment. DigitalBridge Group shares rose after an upgrade by J.P. Morgan, and Peloton saw an uptick after partnering with Lululemon Athletica. Accenture's shares dropped due to Q4 revenue missing expectations, while Micron Technology experienced a decline after its fiscal Q4 report. Lastly, GameStop's stock dipped slightly after appointing Ryan Cohen as its new CEO.
