Author: Bruno T
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Biden Administration Imposes Hefty Tariffs on Chinese Imports to Protect U.S. Industries
In a significant move on Tuesday, the White House announced that President Joe Biden has decided to impose increased tariffs on a range of Chinese goods, escalating tensions between Washington and Beijing. The new policy targets key sectors including electric vehicles, semiconductors, and various minerals, marking a major step in the U.S. government’s efforts to…
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EIA: US crude inventories down by 6.4 million barrels
Commercial crude oil inventories in the United States, not considering those in the Strategic Petroleum Reserve (SPR), went down by 6.4 million barrels to 453.6 million barrels in the week ending April 19, the Energy Information Administration (EIA) stated in its report published on Wednesday. Oil refinery inputs averaged 15.9 million barrels per day (bpd)…
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US mortgage applications down 2.7%
Mortgage applications in the United States decreased by 2.7% on a seasonally adjusted basis in the week ending April 19, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey showed on Wednesday. According to the report, the average 30-year mortgage rate increased to 7.24% from 7.13%. The Refinance Index fell 6% compared to the previous…
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US durable goods orders up 2.6% in March
The number of durable goods orders in the United States went up by 2.6% or $7.3 billion in March, landing at $283.4 billion, a report published by the United States Census Bureau on Wednesday showed. Transportation equipment led the upbeat trend, jumping 7.7% or $6.8 billion in comparison to the previous month, coming in at…
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AT&T Exceeds First-Quarter Expectations with Strong Subscriber Growth and Cash Flow
AT&T has exceeded Wall Street forecasts for the first quarter, bolstered by significant growth in wireless subscriber additions and an impressive increase in free cash flow. The telecom leader saw a surge in customers opting for its higher-tier unlimited plans, largely driven by its competitive pricing and expansive 5G network rollouts. During this period, AT&T…
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Boeing’s Recovery Slowed by Reduced 737 MAX Production Amid Safety Concerns
Boeing is facing a challenging period following a severe mid-air incident in January, as CEO Dave Calhoun informed employees on Wednesday. The aircraft manufacturer’s recovery is expected to be slowed by reduced production rates of its 737 MAX series, an action taken to enhance the quality and safety of its aircraft. Calhoun, who plans to…
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Tesla Surges 10% on Growth Outlook and Plans for Affordable Models in 2025
Tesla shares jumped by 10% on Wednesday, igniting investor optimism as the company outlined a growth forecast for the year and announced plans to introduce more affordable electric vehicle models in early 2025. This announcement came as a relief to stakeholders who had been concerned by a series of negative events surrounding the company, including…
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Investment Updates: Analyst Ratings and Price Target Changes
In a flurry of analyst activity, several key companies have undergone notable changes in their investment outlooks. Here are the details: Airbnb, Inc. (ABNB) Mizuho Securities has upgraded its rating on Airbnb from ‘Neutral’ to ‘Buy’. The firm also raised its price target for the stock from USD 150 to USD 200, signaling strong future…
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Week Ahead – April 22nd: Investors Brace for Earnings Bonanza and Key Economic Data Releases Globally
Investors across the United States are gearing up for one of the busiest weeks on the earnings calendar, with major tech titans like Alphabet, Microsoft, and Meta set to report their quarterly results. Other significant U.S. companies such as Verizon, Visa, Tesla, and Amazon among others, are also on deck, promising a week full of…
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General Motors and Ford Face Growth Challenges Amid Electric Vehicle Slowdown
American automakers General Motors (GM) and Ford are gearing up to report their first-quarter results next week, facing the common challenge of explaining to investors where future profit growth will originate as electric vehicle (EV) growth slows. The global demand for electric vehicles is softening, while competition from Chinese automakers intensifies, and high loan costs…