The New York Stock Exchange (NYSE) opened Wednesday with a mixed tone in the markets after the major indexes closed at record highs the previous day. The S&P 500 pushed past 6,500 on Tuesday, while the Dow Jones was lifted by an 8.6% surge in shares of UnitedHealth Group, one of the NYSE’s most closely watched listings.
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In labor market news, the Bureau of Labor Statistics delivered a surprise revision, revealing that the U.S. actually added 911,000 fewer jobs through March than previously reported. This marks the largest downward adjustment since the government began keeping such records in 2002, raising new questions about the true strength of the job market.
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Amid these broader market moves, Klarna, the Swedish fintech giant known for its buy now, pay later model, is set to take the spotlight on Wall Street. The company priced its initial public offering at $40 per share, coming in above expectations, and will ring the NYSE Opening Bell today as it begins trading. The IPO pushes Klarna’s valuation past $15 billion, underscoring continued investor appetite for fintech innovation.
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Meanwhile, on the technology front, PsiQuantum has announced a massive $1 billion Series E funding round. The ambitious startup is focused on building what it hopes will be the world’s first commercially useful quantum computer, designed to tackle some of humanity’s biggest challenges.
Ashley Mastronardi delivered Wednesday’s pre-market update directly from the NYSE trading floor, setting the stage for what promises to be an eventful day across both traditional and emerging markets.
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