Category: Latest News
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U.S. Futures Rise on Easing Inflation, Oil Prices Rise
U.S. index futures rose slightly in Thursday’s pre-market trading, driven by signs of easing inflation and a rebound in stocks after a week of heavy global sell-offs. Positive inflation data and strong performances from companies like Cisco (NASDAQ:CSCO) and Ulta Beauty (NASDAQ:ULTA) boosted investor confidence, while the Federal Reserve may consider lowering interest rates at…
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Cisco Beats Estimates and Announces Restructuring, Canoo Rises 6%, Lulus Losses Widen, Latest in Earnings
Cisco Systems (NASDAQ:CSCO) – The networking and IT solutions company reported adjusted earnings of 87 cents per share on revenue of $13.64 billion, while analysts surveyed by LSEG expected it to earn 85 cents per share on revenue of $13.54 billion. Cisco also announced a $1 billion restructuring plan and a 7% reduction in its…
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Google Forced to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova
Alphabet (NASDAQ:GOOGL) – A U.S. judge plans to force Google to allow Android users to download apps from sources other than the Play Store after a favorable antitrust ruling for Epic Games. The decision will be clear but won’t detail daily management. Google argues this will harm security and competition. Shares fell 2.3% pre-market. Apple…
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U.S. Stocks Finish Choppy Trading Day Mostly Higher
Stocks turned in a relatively lackluster performance during trading on Wednesday but managed to end the day mostly higher. With the upward move, the Nasdaq and the S&P 500 both closed higher for the fifth consecutive session. The major averages bounced back and forth across the unchanged line before closing in positive territory. The Dow…
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AI Energy Use Overtakes Bitcoin, BTC Price Falls, Goldman Sachs Puts $418M in Bitcoin ETFs, and Latest in Crypto
AI surpasses Bitcoin mining in energy consumption Recent research reveals that the energy consumed by artificial intelligence (AI) systems may be surpassing that used in Bitcoin mining. With the growing adoption of generative AI, it’s estimated that AI will consume 169 TWh in 2024 and 240 TWh by 2027, compared to 160 TWh for Bitcoin…
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Consumer Prices In Line With Estimates, Growth Slowed Slightly
A highly anticipated report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased in line with estimates in the month of July. The Labor Department said its consumer price index rose by 0.2 percent in July after edging down by 0.1 percent in June. The modest increase by consumer prices…
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U.S. Stocks May Lack Direction Following Yesterday’s Rally
The major U.S. index futures are currently pointing to a roughly flat open on Wall Street on Wednesday, with stocks likely to show a lack of direction following the rally seen in the previous session. The futures remained little changed even after the Labor Department released its highly anticipated report on consumer price inflation in…
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U.S. Futures Steady After Tuesday’s Strong Recovery; CPI in Focus
U.S. stock index futures are little changed in pre-market trading on Wednesday after a strong recovery in stocks on Tuesday. The indices surpassed the levels seen on August 2, prior to the global sell-off on August 5. The rapid recovery has prompted caution among analysts, and today’s CPI report could influence the market, while concerns…
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UBS Beats Earnings Forecasts, Intel Divests Arm Holdings, Flutter Surges 9% in Premarket Trading, and More
UBS Group AG (NYSE:UBS) – UBS reported a net profit of $1.136 billion in Q2, exceeding the $528 million forecast. Revenue also surpassed expectations, reaching $11.904 billion. Despite lower profits compared to Q1, the bank highlights progress in cost reduction and Credit Suisse integration, expecting $7 billion in gross savings by year-end. The bank is…
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Inflation Data Sparks Rally On Wall Street Amid Rate Cut Optimism
Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Tuesday. The major averages all showed strong moves to the upside after ending Monday’s trading narrowly mixed. The major averages saw continued strength going into the close, ending the day near their highs of…