Category: Latest News
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Jobless Claims Exceed Expectations, US Home Sales Decline, UK Consumer Confidence Rises
Jobless Claims Exceed Expectations The US labour department reported 245,000 new initial jobless claims in the week ending April 15, which exceeded economists’ expectations of 240,000 claims. This was an increase in the pace of new claims, led by California, New York, Massachusetts and Texas, based on preliminary figures not adjusted for seasonal changes. US…
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Tesla Stock Slips, Google Combines AI Research Units
Google Combines AI Research Units Brain and DeepMind The search giant (NASDAQ:GOOGL) is merging AI resources to accelerate progress in technology that is reshaping business. AT&T Sees Signs of Businesses, Consumers Paring Back Spending AT&T (NYSE:T) says demand for its wireless plans is being dented by corporate cost cutting and layoffs. Tesla Stock Slips After…
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Crypto this Thursday: Bitcoin Under $28,500, Societe Generale Launches Stablecoin, and More
BTC price puts $28K support at risk Bitcoin (COIN:BTCUSD) rebounded from new 10-day lows at the Wall Street open on April 20, as US jobs data boosted investor confidence, reversing higher after hitting $28,360. Amidst an ongoing correction, the pair, however, failed to recover even $29,000 of support as US unemployment data indicated that tighter financial…
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Global Banks Shift to Eurozone, Ikea Invests Big in US, AT&T’s Postpaid Phone Slowdown
Ikea Invests Big in US Ikea is investing €2bn into the US market, its largest investment in a single country. The company plans to open eight new large stores and nine smaller planning studios and order points over the next three years. By doing so, Ikea hopes to take advantage of the current economic downturn…
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Russia Exports Ban Proposal, Bank Failures Slow Borrowing, China’s Benchmark Rates Steady
Russia Exports Ban Proposal Ukraine’s key allies, including the US, are considering an outright ban on most exports to Russia, as they aim to tighten economic pressure on President Vladimir Putin’s war. Group of Seven officials are discussing this idea ahead of a leaders summit in Japan, intending to include European Union member states in…
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Disappointing Earnings News May Weigh On Wall Street
US Market The major U.S. index futures are currently pointing to a lower open on Thursday, with stocks likely to come under pressure after closing little changed for two straight days. A negative reaction to the latest earnings news from several big-name companies may contribute to initial weakness on Wall Street. Shares of Tesla (TSLA)…
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Thursday’s Wall Street Highlights: Tesla, American Express, Las Vegas Sands, AT&T and more
Main subjects of the day US stock futures were lower on Thursday morning as investors weighed the latest results from IBM and Tesla. IBM rose 1.01% premarket after the company said margins were expanding. Tesla fell about 7.66% premarket after the electric vehicle maker reported net profit and GAAP earnings were down more than 20% year-on-year. Renault also released results…
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European Midday Briefing: Stocks Struggle as Inflation, Rates Fears Persist
Market Wraps Stocks: European stocks fell back on Thursday as worries over inflation and possible higher interest rates continued to weigh on sentiment. In London, miners lost ground after downbeat trading in Asia while some banks made solid gains. “Banking stocks like Barclays, HSBC, NatWest, StanChart and Lloyds are trading higher after Morgan Stanley reported…
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Renault Warns Against Reducing EV Prices, Bed Bath & Beyond Prepares for Bankruptcy
Mixed Earnings Affect Stocks European stocks showed a slight decrease while US equity futures declined as investors analyzed mixed corporate earnings and reviewed the most recent assessment of the US economy for hints about the path for interest rates. The Stoxx Europe 600 (STOXX:SSXP) saw a boost in banking stocks, but autos experienced a decline,…
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US Supreme Court Extends Abortion Pill Freeze, Republican Speaker Outlines Debt Ceiling Plans
US Supreme Court Extends Abortion Pill Freeze The US Supreme Court has extended its freeze on a lower court ruling that would have restricted access to the abortion pill, mifepristone, until Friday. This will keep the drug available while the justices consider whether to keep it on the market. A federal judge in Texas had…