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Market Update: TEVA, FITB

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Fifth Third Bancorp (FITB) Stock Forecasts

AllMarket Update

Argus•January 22, 2024
Sector(s)

Financial Services, Healthcare

Summary

Stocks headed higher on Monday with the S&P 500 on track to hit another all-time high. This month’s FOMC decision on January 31 is widely expected to result in uncaged interest rates, while future rate-cut expectations have become less optimistic. Turning to stocks, shares of Archer-Daniels-Midland (ADM) are down sharply after the company placed the CFO on administrative leave and cut its earnings outlook while it investigates accounting practices related to its nutrition unit. The Dow rose 0.4%, the S&P 500 was up 0.3% and the Nasdaq gained 0.5%. Crude oil traded above $75 per barrel, while gold fell $4 to $2025 per ounce.

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