Despite inflation and rising interest rates, investors who are seeking income don’t have many good choices. The yield of a 10-year US Treasury Bond is only about 1.5% and the average yield of a corporate bond is only about 2.7%. These are both significantly lower than their historical averages.
Cathie Wood-led Ark Investment Management on Thursday sold 679,335 shares, estimated to be worth about $6.8 million, in blank-check firm Galileo Acquisition Corp (NYSE: GLEO).
Shares of the company closed 0.1% higher at $10.01 on Thursday.
Apple Inc. (NASDAQ: AAPL) shares were trading higher Thursday after the Federal Reserve held its rates constant but raised its inflation expectations for the years 2021-2023.
Seven Fed officials expect increases in rates in 2022, and 13 officials expect rate increases in 2023.
Advanced Micro Devices Inc. (NASDAQ: AMD) shares were trading higher Thursday after the chipmaker and Google Cloud announced T2D.
T2D is the first in a new family of Tau Virtual Machines powered by a third-generation AMD EPYC processor.