The market anticipates the Fed to start cutting rates in 2024, but the actual number of cuts is uncertain. The Fed's decision could impact the stock market rally and investors should pay attention to Fed Chair Powell's commentary. Expectations range from 1-2 cuts, which may tighten financial conditions, to 4-5 cuts, potentially signaling a recession. However, the Fed is likely to err on the side of caution and signal 3 cuts.

Occidental Petroleum has agreed to acquire CrownRock, a major energy producer in the Permian Basin, for $12 billion. The acquisition will expand Occidental's presence in the Midland Basin, enhance their inventory, and increase their unconventional production by approximately 170 Mboed in 2024. Occidental's stock was down 1.5% in premarket trading after the announcement.

Arkhouse Management and Brigade Capital have joined forces to submit a $5.8 billion bid to acquire retailer Macy's, valuing the company at $21 per share. The proposed buyout aims to make Macy's a private company.

U.S. health insurer Cigna has called off its deal to buy Humana, a move that could have created a $140 billion health-insurance giant. Instead, Cigna plans to repurchase at least $5 billion of its own stock and has increased its total share repurchase authority to $11.3 billion.

Paramount Global Inc.'s stock surged on Friday, gaining 13%, following reports that Skydance Media and RedBird Capital are considering a potential takeover of the mass media conglomerate. The rumors of a possible acquisition caused Paramount Global's shares to jump, making it the best-performing stock in the S&P 500.

. This positive news contributed to a monthly increase of 13.

The U.S. Food and Drug Administration has approved two gene therapies, including one developed by Casgevy, to treat sickle cell disease, affecting around 100,000 Americans. CNBC's Angelica Peebles reports on this breakthrough in bioscience.

Apple Inc. plans to expand iPhone manufacturing in India as a hedge against its reliance on China. India's potential as a manufacturing hub is promising, but labor market reforms are needed for optimal capitalization. Apple aims to produce over 50 million units annually in India within the next few years.

Shares of RH dropped 8% after the company reported a surprise quarterly loss and cited a "frozen" housing market as the reason. The luxury furniture retailer saw sales slump 14% year over year, leading to a downgrade in its full-year sales and margin guidance.

Carrier Global Corporation has entered into an agreement to sell its security business, Global Access Solutions, to Honeywell for $4.95 billion. Honeywell plans to strengthen its building automation capabilities with this acquisition, which includes industry-leading brands such as LenelS2, Supra, and Onity. The purchase price represents approximately 13x 2023 expected EBITDA and the transaction is expected to be immediately accretive to Honeywell's growth, gross margins, and operating margins.