Tech stocks were moving slightly higher early Wednesday as the sector attempted to turn around a bad week. The technology-heavy is rising 0.2% early Wednesday as the index looked set to snap a three-day losing streak. Palantir Technologies is also hoping to snap a three-day losing run of its own.
The worker felt compelled to publish the memo because 'we all felt ripped off'.
Interest rate hikes would have very little if any, impact on the price of tobacco, petrol, food, alcohol or child care. So why are they deemed the answer?
The former U.S. president and Republican presidential candidate secured 36 million shares of Trump Media & Technology Group (TMTG), increasing his stake from 57.6% as of March. Reuters reported last week that Trump would secure a stock bonus worth $1.3 billion from TMTG, equivalent to about half the majority stake he already owns in it, thanks to the wild rally in its shares. The bonus also reflects the exuberant trading in TMTG's shares, which have been on a roller coaster ride since the company listed on Nasdaq last month through a merger with a special purpose acquisition company (SPAC) and was snapped up by Trump supporters and speculators.
(Bloomberg) -- Bitcoin registered its worst month since the collapse of Sam Bankman-Fried’s FTX empire as the euphoria around US exchange-traded funds for the largest digital asset subsides. Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsBinance and CZ’s Fortunes Are Set to Grow, Even in JailWall Street Hit by Fed Jitters to Close Wild April: Markets WrapTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly,
(Reuters) -Australian retailer Woolworths said on Wednesday that it would sell a 5% stake worth A$468 million ($302.84 million) in Endeavour Group, almost three years after spinning out the liquor store and pub operator. The sale will happen via a block trade at a price of A$5.22 per share, Australia's largest supermarket operator said, adding that it would now own about 4.1% of Endeavour, which it spun out as a separate company in 2021. Shares of Woolworths slipped 0.4%, while those of Endeavour were down 5% in early trade.
BHP Group can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African subsidiaries. The world's No. 1 miner is weighing up its next move after its initial $39 billion takeover proposal for smaller rival Anglo was rejected last week. BHP has proposed that Anglo sell its shares in units Anglo Platinum (Amplats) and Kumba Iron Ore as an option to exit the South African assets it doesn't want included in the deal.
(Bloomberg) -- The stock market sank in the final stretch of April and bond yields climbed on concern that stubborn inflation will force the Federal Reserve to keep interest rates higher for longer.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsWall Street Hit by Fed Jitters to Close Wild April: Markets WrapBinance and CZ’s Fortunes Are Set to Grow, Even in JailPot Stocks Surge on Report DEA Set to Reclassify MarijuanaTesla Axes Most of Supercharger Team in Bl
(Bloomberg) -- The cocoa market was whipsawed by extreme volatility in the futures market on Tuesday amid a lack of liquidity.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsBinance and CZ’s Fortunes Are Set to Grow, Even in JailWall Street Hit by Fed Jitters to Close Wild April: Markets WrapTesla Soars on Tentative China Approval for Driving SystemPot Stocks Surge on Report DEA Set to Reclassify MarijuanaAfter more than doubling this year, futures traded in Ne
LONDON (Reuters) -Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39 billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing the spurned offer by takeover regulations. Some questions and comments from shareholders echoed broader concerns about the price and nature of BHP's bid. "To what extent can you survive if you reject the offer?" one shareholder asked.
The Commonwealth Bank was the only of the big four still forecasting a cut in September, but now borrowers are being warned to 'plan for a hike'.
It is doubtless a positive to see that the St Barbara Limited ( ASX:SBM ) share price has gained some 65% in the last...
Swedish electric-vehicle maker Polestar Automotive will delay the publication of its fourth-quarter and full-year 2023 financial results for a second time, a spokesperson for the company said on Tuesday. Polestar did not provide a date for the release but said it still intends to publish first-quarter financial results on May 23. Polestar also requires more time to complete work related to the internal control of its financial reporting as per the Sarbanes-Oxley Act of 2002, the spokesperson said.
Amazon (AMZN) stock rose in extended-hours trading after its first-quarter earnings topped Wall Street estimates. CFRA Research Senior Equity Research Analyst Arun Sundaram credits the success to innovations in Amazon's e-commerce division driving improved retail margins, as well as AWS's position as a powerhouse among other cloud computing competitors. He also highlights the company's artificial intelligence initiatives, telling Julie Hyman and Josh Lipton that Amazon has a "very compelling stack of generative AI products and services" that are being reflected in its stock prices. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
Monday marks the start of a busy week for Wall Street, with a slew of data releases set to shape market dynamics. Big Tech earnings, the highly anticipated Federal Open Market Committee (FOMC) meeting, and the closely watched jobs report are all scheduled to unfold. Wells Fargo Senior Global Market Strategist Scott Wren joins The Morning Brief to provide insights into how these developments might impact markets and the Federal Reserve's rate cut outlook. With the FOMC meeting and decision announcement slated for Wednesday, Wren believes "we're not going to see any surprises," predicting that the higher-for-longer interest rate environment will likely persist. He believes that two rate cuts could materialize in 2024, starting in September. The next most likely scenario is "fewer cuts, not more," Wren says. As the Big Tech earnings season continues to unfold this week, Wren believes the tech and communications services sectors are "overvalued." However, he acknowledges that with industry heavyweights like Microsoft (MSFT) driving market rallies post-earnings, "clearly the market is going to hang on results" for a few days. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Angel Smith
When it comes to explaining the power of stock market investing, one example that frequently makes the rounds is how rich you would be now if you had invested in Microsoft when the software company...
Super Micro Computer forecast fourth-quarter revenue above estimates on Tuesday as it expects continued demand for its servers used in artificial intelligence applications. Super Micro's in-house liquid cooling solutions for servers have helped it get products to the market quicker than its competitors, who rely partly on third-party vendors. Its close relations with chip giants Nvidia and Advanced Micro Devices, whose headquarters are less than 10 miles from Super Micro's, help it receive early samples of chips to check prototypes, giving it further advantage over rivals.
(Bloomberg) -- Carlyle Group Inc. is working with JPMorgan Chase & Co. and Morgan Stanley on options for aircraft maintenance services provider StandardAero, according to people familiar with the matter.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterBinance and CZ’s Fortunes Are Set to Grow, Jail or no JailUS Warns ICC Action on Israel Woul
Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won't be renewed because their insurance company has deemed the risk too high. Insurance providers, state regulators and researchers are grappling with how to keep the insurance companies in business while keeping residents and their properties insured and protected. “I think most of the insurers, you know, I’m very grateful that they’re committed to the Hawaii market, so we haven’t seen wholesale withdrawals,” after the Aug. 8, 2023 fire burned through Lahaina and killed 101 people, Hawaii Insurance Commissioner Gordon Ito said during a Wildfire Risk Forum for insurance commissioners held at the National Interagency Fire Center in Boise, Idaho.
The simplest way to invest in stocks is to buy exchange traded funds. But the truth is, you can make significant gains...
The Indian rupee was little changed on Tuesday, tracking subdued moves in its Asian peers, with traders expecting the local currency to trade with a slight depreciation bias heading into the U.S. Federal Reserve's policy decision. The dollar index was up 0.1% at 105.8, while most Asian currencies were rangebound. The Fed will deliver its policy decision on Wednesday and while it is widely expected to keep rates unchanged, investors will pay attention to remarks from Chair Jerome Powell for cues on policymakers' thinking about the future path of policy rates.
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