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Today in the Market (2/27/2024)

Good Morning! On Tuesday, U.S. equities had a mixed day, with the S&P 500 & the NASDAQ finishing up by 0.17% & 0.37%, respectively. However, the Dow Jones fell by 0.25%.

TWO YEARS IN A ROW!

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Consumer Reports (CR) has chosen BMW (BMWYY) as the best overall choice in its 2024 Brand Report Card rankings, making the German carmaker the first to win consecutively since 2017. BMW’s consistent performance in customer satisfaction solidifies its position as a reliable premium brand.

But how do these scores work? The CR’s famous brand rankings are determined by calculating the average overall score, which takes into account road-test results, expected dependability, owner satisfaction statistics, and safety criteria for all tested vehicles from each carmaker.

Honorable mentions! BMW ranked first with a score of 82 out of 100, Subaru (FUJHY) and Porsche (POAHY) tied for second place with a score of 80, and Honda (HMC) and Lexus (TM) were tied for third with a score of 78. Notably, of the top 10 vehicle winners, six are hybrid or plug-in hybrids, one is a pure EV, and just three are traditional gas-powered automobiles.

 

PUT A RING ON IT

Samsung unveiled a prototype of its first smart ring at the Mobile World Congress in Barcelona. The wearable device will measure heart rate, breathing, and movement during sleep for the Samsung Health app and could help with contactless payments.

Why? Samsung’s entry into the jewelry industry is the first time a major technology company has ventured into the electronic ring market, traditionally led by startups such as Finland’s Oura. Industry analysts anticipate further competition in the ring market, as Apple (AAPL) is considering entering the industry.

Why pick the ring over the watch? Samsung believes that some users may prefer wearing a ring over a Galaxy wristwatch for sleep tracking. However, Dr. Hon Pak, Samsung’s VP of Digital Health, suggests that consumers could wear numerous devices to have a more comprehensive understanding of their health.

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