Category: Latest News
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Philly Fed Index Shows Sharp Drop in Manufacturing Activity for October
Manufacturing activity in the Mid-Atlantic region lost momentum this month, according to new data from the Federal Reserve Bank of Philadelphia. The bank’s latest survey revealed a sharp decline in its measure of current general activity, signaling a contraction in the regional factory sector. The Philly Fed’s diffusion index for current activity fell to -12.8…
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Dow Jones, S&P, Nasdaq, Futures, Wall Street Set for Higher Open as AI Momentum Lifts Market
U.S. equity futures pointed to early gains on Thursday, signaling a positive start on Wall Street following Wednesday’s volatile but largely constructive session. Investor sentiment is being boosted by strength in the artificial intelligence space. Taiwan Semiconductor (NYSE:TSM) jumped 2.3% in pre-market trading after delivering third-quarter earnings that topped expectations, fueled by accelerating demand for…
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J&J hit with first UK legal claims over alleged cancer link to baby powder
Johnson & Johnson (NYSE:JNJ) is facing its first legal battle in the United Kingdom over allegations that its talc-based products caused cancer — adding to the tens of thousands of similar lawsuits the company is already fighting in the United States. The case was filed Tuesday in the English High Court against both J&J and Kenvue…
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United Airlines forecasts record-breaking revenue on resilient travel demand
United Airlines (NASDAQ:UAL) delivered quarterly earnings above Wall Street expectations and projected the highest revenue in its history for the fourth quarter, driven by robust travel demand and strong customer loyalty. The airline reported adjusted earnings of $2.78 per share for the third quarter, exceeding the $2.67 forecast by analysts. Revenue increased 2.6% year-over-year to $15.2…
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TSMC sees AI momentum accelerating as quarterly profit beats expectations
TSMC (NYSE:TSM), the world’s largest producer of advanced AI chips, projected fourth-quarter revenue growth of up to 24%, powered by the ongoing artificial intelligence boom. The company’s earnings once again topped forecasts, marking its sixth consecutive quarter of double-digit profit expansion. TSMC reiterated its capital spending outlook of up to $42 billion for 2025, citing…
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Ford to recall over 59,000 U.S. vehicles due to potential fire hazard
Ford Motor (NYSE:F) is recalling 59,006 vehicles in the United States equipped with engine block heaters over potential fire risks, according to a statement released Thursday by the National Highway Traffic Safety Administration (NHTSA). The agency explained that the engine block heater in certain models can crack and leak coolant, which may lead to a short…
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Microsoft and AWS speed up supply chain exit from China — Nikkei
Microsoft (NASDAQ:MSFT) intends to manufacture most of its new hardware outside of China starting as early as next year, while Amazon (NASDAQ:AMZN) Web Services (AWS) is pushing supply chain diversification down to the component level, according to a report from Nikkei Asia on Thursday. The move signals a new phase in U.S. tech firms’ efforts to…
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Sea Ltd. shares drop as stretched valuation sparks sell-off
Sea Ltd. (NYSE:SE) shares fell 9.6% in U.S. trading on Wednesday, their steepest daily decline since April, breaking a rally that had driven the stock up 70% so far this year. Helena Wang, analyst at Philip Securities, linked the sharp decline to a market correction tied to the company’s valuation. “We think it is really just…
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U.S.-China Rare Earths Clash Deepens as Beijing Pushes Back
Tensions over critical minerals escalated further on Thursday after Chinese state media issued a forceful rebuttal to U.S. criticism of Beijing’s rare earth export controls, amplifying a diplomatic standoff that shows no sign of easing. In a seven-point statement, Chinese outlets rejected Washington’s demands to scrap the new measures, which are scheduled to take effect…
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Dollar Softens on Fed Easing Bets; Euro Rebounds on French Political Calm
The U.S. dollar slipped on Thursday, pressured by growing expectations that the Federal Reserve will continue cutting interest rates this year, while signs of political stability in France lifted the euro to its strongest level in a week. At 04:45 ET (08:45 GMT), the U.S. Dollar Index — which tracks the greenback against six major…