Category: Latest News
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US industrial production up 0.4% in March
Industrial production in the United States rose by 0.4% in March after increasing 0.1% in the previous month, the Federal Reserve’s Board of Governors stated in its report published on Tuesday. Manufacturing output rose 0.5% compared to the month before and 0.8% on an annual basis. Mining fell by 1.4% on a monthly basis, and…
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Dow Looks To Snap Six-Day Losing Streak As UnitedHealth Surges
The major U.S. index futures are currently pointing to higher open on Tuesday, with stocks likely to regain ground after moving sharply lower over the two previous sessions. Bargain hunting may contribute to initial strength on Wall Street, as traders pick up stocks at relatively reduced levels following the steep drops seen over the past…
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US housing starts down 14.7% in March
Privately‐owned housing starts in the United States stood at 1,321,000 in March, decreasing by 14.7% compared to February and 4.3% compared to March 2023, according to a Census Bureau report on Tuesday. Single‐family housing starts fell by 12.4% month-on-month to 1,022,000. Building permits for privately owned housing units came to 1,458,000, dropping 4.3% from February.…
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U.S. Index Futures Signal Mixed Trading, Oil Prices Dip
U.S. index futures are mixed in pre-market trading this Tuesday, with the Dow Jones aiming to break a six-day losing streak. At 6:26 AM, the Dow Jones futures (DOWI:DJI) were up 65 points, or 0.17%. The S&P 500 futures fell -0.26%, and the Nasdaq-100 futures lost -0.39%. The 10-year Treasury yield was at 4.649%. In…
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Ericsson Soars with 66% Net Profit Growth; Live Nation Under Antitrust Scrutiny in US, and More News
Live Nation Entertainment (NYSE:LYV) – The U.S. Department of Justice plans to initiate an antitrust lawsuit against Live Nation next month, citing its control over the live event market. Its subsidiary Ticketmaster faced criticism for its management during Taylor Swift’s tour, fueling the investigation. Shares fell 6.8% in Tuesday’s pre-market trading. Ericsson (NASDAQ:ERIC) – Ericsson’s…
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U.S. Stocks Extend Sell-Off As Treasury Yields Surge After Retail Sales Data
Following the steep drop seen last Friday, stocks showed another substantial move to the downside over the course of the trading session on Monday. The major averages moved notably higher early in the session but pulled back sharply as the day progressed. The major averages all closed firmly in the red, with the tech-heavy Nasdaq…
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Hong Kong Greenlights Bitcoin and Ether ETFs, Solana Rolls Out Key Upgrade, and More Crypto News
Hong Kong approves Bitcoin and Ether ETFs On Monday, Hong Kong regulators gave the green light for the launch of spot Bitcoin and Ether ETFs, asset managers announced, following the trend set by the US earlier this year. Approvals came from three fund managers, including ChinaAMC, which also plans to offer virtual asset management services,…
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Meta to temporarily close Threads in Turkey
Meta Platforms Inc. (NASDAQ:META) said on Monday that its social media platform Threads will be temporarily closed starting on April 29 while the giant company prepares to appeal the Turkish Competition Authority (TCA) decision which forbade Threads and Instagram to exchange users’ data last March 18. Users that have accounts in Thread and feel affected…
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Google and US Treasury Launch AI Training Program; Google Faces Antitrust Scrutiny in Japan
Alphabet Inc.’s Google Cloud launched on Monday in collaboration with the United States Department of the Treasury, new generative AI, cybersecurity, and data analytics training programs “to drive a new skills-based hiring effort to expand access to jobs in data analytics and cybersecurity.” “We are partnering with Google to provide the new Cloud Certificates training…
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Tesla Cuts 10% of Workforce, VP Resigns as Shares Fall 4%
Tesla Inc. (NASDAQ:TSLA) is reducing over 10% of its global workforce, according to an internal email sent by CEO Elon Musk on Monday. He said the company carried out a “thorough review of the organization” and that the decision will “enable us to be lean, innovative and hungry for the next growth phase cycle.” He…