TheStreet's Sara Silverstein brings the latest business headlines from the New York Stock Exchange as markets close for trading on Friday, December 15.
Full video transcript below:
SARA SILVERSTEIN: I'm Sara Silverstein, reporting from the New York Stock Exchange.
Wall Street has been on the rise, with all three major averages posting gains this week. This optimism comes as investors react to better-than-expected economic data and signs of interest rate cuts in 2024. Investors are hopeful that the Federal Reserve can reduce inflation to its 2 percent target without triggering a recession.
Next week, investors are expecting a lighter week, with jobless claims released on Thursday and the Federal Reserve's preferred inflation metric on Friday.
In other news, Elon Musk has his hands in a variety of industries – technology, space exploration, social media – and now it looks like he'll be entering the world of education.
According to tax returns obtained by Bloomberg, Musk has made a $100 million donation to fund a new elementary and high school in Austin, Texas. Ultimately, the billionaire plans to open a new university. The schools will focus on teaching science, technology, engineering and mathematics, also known as STEM subjects.
The presentation says, appointment “The school is being designed to meet the educational needs of those with proven academic and scientific potential, who will thrive in a rigorous, project-based curriculum.”
Elon Musk also previously founded an online school, Astra Nova School, which is online-only and serves students ages 10 to 14.
That will be enough for your daily briefing. From the New York Stock Exchange, I'm Sara Silverstein from TheStreet.
