Small declines seen on Wall Street while cocoa prices hit record high

Wall Street Snapshot: Positive Outlook for Viking Therapeutics, Donald Trump’s Truth Social Surges on First Day of Trading

The trading day provided a snapshot of the current reports, trends, indices, stock prices, bonds, foreign exchange, commodities, and analyst recommendations. Despite most of the trading day seeing price increases, Wall Street closed down tonight. The Nasdaq index fell by 0.4%, the Dow Jones by 0.1%, and the S&P 500 by 0.3%.

Shares that garnered interest today include Donald Trump’s social network, Truth Social, which jumped on its first day of trading but closed with a gain of about 15%. Krispy Kreme saw a 40% jump after a distribution agreement with McDonald’s. Viking Therapeutics rose about 16% following good trial results for a weight-loss drug. On the other hand, stock UPS fell sharply after initially jumping, attributed to the company’s new strategy and forecast announcement.

Viking Therapeutics saw a 20% jump after reporting positive trial results for a weight loss drug. Cocoa prices reached an all-time high, affecting chocolate manufacturers who may pass on costs to consumers. The world is facing the biggest cocoa production crisis in 60 years due to issues in Ivory Coast and Ghana. Consumers are likely to see the impact on chocolate prices by 2025.

In Europe, stock markets closed with price increases as Wall Street indices stabilized with slight increases throughout the trading day. Bitcoin traded at $69,700 per coin while various stocks experienced jumps and stabilizations in trading throughout the day worldwide

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