eBay Soars as Meta Permits Facebook Marketplace Listings | Global News Avenue

Major U.S. stock indexes were mixed on Wednesday as minutes from last month’s Federal Reserve meeting revealed some uncertainty about the trajectory of inflation and suggested policymakers would be cautious about cutting interest rates in 2025.

After being volatile for much of the session, the S&P 500 was higher in the afternoon, with a daily gain of 0.2%. The Dow gained 0.3%, while the Nasdaq closed down less than 0.1%.

Shares of online retail platform operator eBay (eBay) topped the S&P 500, soaring 9.9%, second only to social media giant Meta (Mehta) announced that it would allow certain eBay items to appear on Facebook Marketplace. Partnering with Meta could help boost eBay’s position in the fiercely competitive e-commerce market, and Meta’s decision to open Marketplace to eBay comes after the European Commission last November targeted Facebook’s parent company for what regulators called anti-competitive conditions. impose fines. Meta shares fell 1.2%.

Medical device manufacturer Boston ScientificBSX) announced a definitive agreement to acquire Bolt Medical, a manufacturer of laser devices that treat heart disease. Boston Scientific already owns 26% of Bolt Medical, and through a deal to acquire the remainder, the company aims to strengthen its position in the fast-growing intravascular lithotripsy (IVL) market. Boston Scientific shares rose 4.3% on Wednesday.

Shares of medical technology company Medtronic (multidisciplinary treatmentThe company gained 3.5% after European Union health regulators approved its transcatheter pulmonary valve replacement (TPVR) system, which is cleared for use in the United States starting in 2021. Additionally, healthcare giant Johnson & Johnson (Johnson & JohnsonThe company has halted sales of its pulsed field ablation (PFA) system, which uses electrical pulses to treat abnormal heart rhythms, after several patients experienced complications. The news boosted growth at Medtronic and Boston Scientific, two companies offering competitive PFA products.

Edison International Generator Stock (axis) fell 10.2%, the biggest decliner in the S&P 500. The utility has cut power to many customers in Southern California as the state is reeling from devastating wildfires. Analysts pointed out that there is no indication so far that the fire is related to Edison International’s equipment, but there are concerns about the impact it may have on the company’s infrastructure and operations.

modern (mRNA) shares fell 9.2% on Wednesday, giving back most of Strong gains in the previous trading day The first reported death from H5N1 bird flu in the United States has spurred interest in the biotech company’s experimental vaccine against the disease. The vaccine maker has seen sales decline in recent years as demand for its COVID-19 products weakened.

Shares of power management and sensor chip maker ON Semiconductor (exist) fell 7%. The company is responding to challenges related to its supply chain and changing demand trends in key industrial and automotive end markets. However, analysts at Evercore ISI recently reiterated an “outperform” rating on Onsemi stock after meeting with executives who emphasized expectations for a strong recovery.