Category: Latest News
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Top Company News of the Day: AB InBev, Lufthansa, Adidas, Société Générale
AB InBev Earnings Beat Hopes Despite Drop in US Volumes Anheuser-Busch InBev reported normalized earnings of $4.9 billion, slightly above forecast, as organic revenue grew 7.2%, and despite a steep drop in North America volumes. Lufthansa Profits Boosted by Air Travel Demand Lufthansa’s second-quarter adjusted earnings almost tripled to EUR1.1 billion on a 17% rise…
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U.S. Stocks Move Sharply Lower After Fitch Downgrades Credit Rating
After ending Tuesday’s session modestly lower, stocks showed a more substantial move to the downside during trading on Wednesday. The tech-heavy Nasdaq led the sell-off, while the Dow pulled back off its best closing level in well over a year. The major averages climbed off their worst levels going into the close but remained sharply…
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Crypto This Wednesday: Litecoin Halving Completed, GameStop Shuts Down NFT Wallet, and More
Litecoin halving completed as cryptocurrency adoption grows in Africa and Latin America The Litecoin (COIN:LTCUSD) halving event has concluded, reducing block rewards to 6.25 LTC. The Litecoin blockchain underwent the halving procedure at block 2,520,000 on August 2, halving the rewards for miners. The price of LTC has dropped since July, hovering around $87.05. The CEO of BitPay highlighted…
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Fitch Downgrade Likely To Weigh On Wall Street
US Market The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to add to the modest losses posted in the previous session. The downward momentum on Wall Street comes after credit rating agency Fitch Ratings unexpectedly downgraded the United States’ credit rating. Fitch downgraded the U.S.’ long-term…
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Wednesday’s Wall Street Highlights: CVS Health, Starbucks, Freshworks, EA, AMD and more
US index futures are down in premarket trading on Wednesday, as the downgrade of US credit ratings by Fitch Ratings ended up weighing on investor sentiment. By 7:17 AM, Dow Jones futures (DOWI:DJI) were down 110 points, or 0.31%. S&P 500 futures were down 0.49%, while Nasdaq-100 futures were down -0.73%. The 10-year Treasury yield was at…
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North American Morning Briefing: Stock Futures Slide on Fitch Downgrade
Market Wraps Watch For: ADP Employment Report; EIA Weekly Petroleum Status Report; earnings from Carlyle Group, CVS Health, DuPont, Humana, Kraft Heinz, PayPal, Qualcomm, Shopify Today’s Headlines/Must Reads – Oil Prices Perk Up as Recession Worries Ebb and Supply Tightens – Hong Kong’s Property Market Is a Mess-and the Fed Is Partly to Blame –…
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US Futures, European Stocks Down as Fitch Downgrades US Credit Rating
In the U.S. futures for the S&P 500 were down 0.6% and futures for the Dow Jones Industrial Average decreased 0.4%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 fell 1.1% in morning trading. Uniper added 7.9% and ConvaTec Group rose 5.4%. On the other…
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Top Company News of the Day: Country Garden Services, Haleon, Toyota, Starbucks
Country Garden Services Shares Jump After Stock Buyback Plan Shares of Country Garden Services Holdings jumped after the company said it plans to buy back shares from the open market, signaling confidence in its growth prospects. Haleon Lifts Forecasts After First-Half Profit Beat Haleon posted an adjusted operating profit of GBP1.3 billion in the first…
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Nasdaq, S&P 500 Move To The Downside But Dow Reaches Best Closing Level In Over A Year
Following a strong July, U.S. stocks saw modest weakness to kick off the month of August. The Nasdaq and S&P 500 moved to the downside, although the narrower Dow managed to finish the day in positive territory. The Nasdaq slid 62.11 points or 0.4 percent to 14,283.91 and the S&P 500 fell 12.23 points or…
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Traders May Cash In On Strong July Gains In Early Trading
US Market The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to move back to the downside after ending yesterday’s lackluster session modestly higher. Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on the strong gains posted in…