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

The stock market experienced a mix of positive trends and declines on Wednesday, with Wall Street indices stabilizing with slight increases. Despite the gains, the Nasdaq index fell by 0.4%, the Dow Jones by 0.1%, and the S&P 500 by 0.3%.

Stocks that garnered interest on Wednesday include Viking Therapeutics, which saw a 20% jump after reporting positive trial results for a weight loss drug, and Truth Social, which jumped on its first day of trading but closed with a gain of about 15%. On the other hand, stock UPS fell sharply after initially jumping due to the company’s new strategy and forecast announcement.

In Europe, stock markets closed with price increases due to company announcements and global economic factors. Bitcoin traded at $69,700 per coin in New York City. Various commodities also experienced jumps and stabilizations in trading throughout the day. Cocoa prices reached an all-time high due to issues in Ivory Coast and Ghana, affecting chocolate manufacturers who may pass on costs to consumers. Consumers are likely to see the impact on chocolate prices by 2025.

By Samantha Johnson

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