Economy
Traders May Cash in on Recent Strength on Wall Street
By Investors Hub
The major U.S. index futures are pointing to a lower opening on Thursday following the modest strength seen in the previous session.
Profit taking may contribute to initial weakness on Wall Street after the uptick seen on Wednesday lifted the major averages to new record closing highs.
Uncertainty about the outlook for the Republican tax reform plan may also weigh on the markets along with rising tensions in the Middle East.
After several quiet days on the U.S. economic front, the Labor Department also released a report showing a bigger than expected increase in initial jobless claims in the week ended November 4th.
Stocks turned in another lackluster performance during trading on Wednesday, with the major averages spending much of the day showing only modest moves. Despite the choppy trading, the major averages reached new record closing highs.
The major averages ended the day modestly above the unchanged line. The Dow inched up 6.13 points or less than a tenth of a percent to 23,563.36, the Nasdaq rose 21.34 points or 0.3 percent to 6,789.12 and the S&P 500 edged up 3.74 points or 0.1 percent to 2,594.38.
The choppy trading on Wall Street came as many traders remained on the sidelines amid another quiet day on the U.S. economic front.
The economic calendar picks up somewhat in the coming days with the release of reports on weekly jobless claims, wholesale inventories, and consumer sentiment.
Developments overseas also attracted some attention as President Donald Trump has traveled to China to meet with Chinese President Xi Jinping.
Trump is expected to push China to do more to address the threat posed by North Korea, with the president arguing in a speech in South Korea that the weight of the crisis is on the conscience of nations that choose to ignore the threat.
“I hope I speak not only for our countries, but for all civilized nations, when I say to the North: Do not underestimate us and do not try us,” Trump said in a speech to the South Korean National Assembly.
Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.
Telecom stocks showed a significant move to the upside, however, with the NYSE Arca Telecom Index advancing by 1.6 percent. With the gain, the index reached a five-month closing high.
Sprint (S) helped to lead the telecom sector higher, surging up by 4.2 percent after ending the previous session at its lowest closing level in over a year.
Considerable strength was also visible among electronic storage stocks, as reflected by the 1.4 percent gain posted by the NYSE Arca Disk Drive Index. The index climbed to a two-year closing high.
Housing, networking, and pharmaceutical stocks also saw some strength on the day, while banking and natural gas stocks showed notable moves to the downside.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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