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

Wall Street saw a mix of positive trends and declines across markets worldwide on Monday, with the Nasdaq index falling by 0.4%, the Dow Jones by 0.1%, and the S&P 500 by 0.3%.

Investor interest was piqued by several stocks, including Truth Social, which jumped on its first day of trading but closed with a gain of about 15%. Krispy Kreme also saw a significant increase after announcing a distribution agreement with McDonald’s. On the other hand, UPS fell sharply after initially jumping, attributed to the company’s new strategy and forecast announcement.

Viking Therapeutics experienced a 20% jump after reporting positive trial results for a weight loss drug. Cocoa prices reached an all-time high, affecting chocolate manufacturers who may pass on costs to consumers. The world is facing the biggest cocoa production crisis in 60 years due to issues in Ivory Coast and Ghana, with consumers likely to see the impact on chocolate prices by 2025.

UPS announced new strategies to improve automation processes and reduce expenses, expecting revenues to reach $110-$114 billion by 2026. Wall Street indices stabilized with slight increases, while Bitcoin traded at $69,700 per coin. Various stocks experienced jumps and stabilizations in trading throughout the day. In Europe, stock markets closed with price increases as well.

By Sophia Gonzalez

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