As expected, Wall Street opened up after a long weekend – Kellogg leaped from the breakout news


In the U.S., stock markets opened up a clear rise on Tuesday after a three-day hiatus. On Monday, the U.S. Aoli National Free and Stock Exchanges were closed.

At Tuesday’s opening, the Dow Jones Industrial Average was up 1.6 percent

S&P 500 up 2.1 percent and Nasdaq Composite up 2.6 percent.

“There is no single reason for the stock bounce. The prevailing view is that the rise is nothing more than a dead cat bounce, which should fade just like any other rally attempt lately. We are somewhat avoiding this view, largely due to the impending change in inflation.” Vital Knowledgen Adam Crisafulli writes in its review the financial channel according to CNBC.

The key indices have three consecutive downturns behind them.

The S&P 500 has fallen 23 percent this year.

Investors are looking at the US Federal Reserve today and tomorrow Federal Reserve the CEO Jerome Powellin statements Senate Banking Committee in front of Wednesday. Powell’s speeches are looking for clues to future rate hikes.

Goldman Sachs has raised its forecast for the likelihood of a recession in the U.S. to 30 percent next year.

Known for its cereals, such as the sugar-coated Frosties cornflakes Kellogg announced on Tuesday that it intends to split into three independent listed companies.

The company, which focuses on breakfast foods, is divesting its North American cereal business and plant-based division, which accounted for about 20 percent of its revenue last year.

The remaining business includes snacks, noodles, international cereal operations and North American frozen breakfast brands. Together, they accounted for about 80 percent of 2021 sales.

The names of the companies will be decided later, but the working names are Global Snacking Co, North American Cereal Co and Plant Co.

“All of these transactions have significant independent potential, and the enhanced focus will allow them to better focus their resources on separate strategic priorities,” Steve Cahillane said in a statement.

The stock was up more than four percent.


Source: Arvopaperi by www.arvopaperi.fi.

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