Category: Latest News
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Fed Maintains Interest Rate, Withdraws Mention Of possible Additional Tightening, But Still Does Not Signal Cut
The Federal Open Market Committee (FOMC) kept interest rates unchanged in the range between 5.25% and 5.50% this Wednesday, in line with investor consensus, still giving no indication of when an expected cycle of cuts will begin, but removing from his text a section that had been alluding to possible new interest rate hikes in…
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U.S. Stocks Move Sharply Lower As Fed Casts Doubt On March Rate Cut
Stocks moved sharply lower over the course of the trading day on Wednesday, with the major averages all moving to the downside following the mixed performance seen in the previous session. The tech-heavy Nasdaq posted a particularly steep loss, extending the notable pullback seen on Tuesday. The major averages finished the session near their worst…
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Crypto: Tether Records Historic Profit, Co-founder of Ripple’s Accounts Breached, and More
Bitcoin stabilizes after bear resistance Bitcoin (COIN:BTCUSD) has plateaued after bears blocked its growth, keeping the price at $43,578 with a 1.44% increase in the last 24 hours. Analyst Ali Martinez sees this level as a buying opportunity, especially after the MVRV index fell below the 90-day average, indicating potential recovery. On the other hand,…
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Nasdaq Net Profit Falls 17.92% in 4Q23 And Stands at US$197 million
Nasdaq (NASDAQ:NDAQ) reported net income of US$197 million in the fourth quarter of 2023, a drop of 17.92% compared to the same period last year. On the same basis of comparison, net revenue – which excludes transaction costs – totaled US$1.64 billion, an increase of 3.8%. The results reflect the positive impact of the acquisition…
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Boeing Reports Smaller-Than-Expected Fourth-Quarter Loss
Boeing (NYSE:BA) announced a reduction in its fourth-quarter loss, exceeding expectations thanks to an increase in aircraft deliveries that boosted its revenue. The North American aerospace and defense company narrowed its net loss to $30 million in the final three months of the year, a significant improvement from its $663 million loss in the same…
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Mastercard 4Q Profit Rises as Consumers Continue to Spend
In the last quarter of 2023, Mastercard (NYSE:MA) reported increased earnings and revenue, driven by high consumer spending during the holiday season. The credit card giant announced a profit of $2.79 billion, or $2.97 per share, up from $2.53 billion, or $2.62 per share, in the corresponding quarter of the previous year. After adjustments for…
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Private Sector Job Growth Slowed, Oil Inventories Report Due
Private sector job growth in the U.S. slowed by more than expected in the month of January, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment rose by 107,000 jobs in January after climbing by a downwardly revised 158,000 jobs in December. Economists had expected private sector employment…
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Disappointing Tech Earnings News May Weigh On Wall Street
The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to move to the downside following the mixed performance seen in the previous session. Technology stocks may extend the notable pullback seen on Tuesday, as reflected by the 1.0 percent slump by the Nasdaq 100 futures. A steep…
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Alphabet 4Q23: Profit Rises, But Shares Fall Due To Advertising Revenue Below Expectations
Alphabet (NASDAQ:GOOGL) shares experienced a drop of up to 6% in pre-market trading on Wednesday (31), after the company released fourth-quarter results. While it posted earnings per share of $1.64, beating LSEG (formerly Refinitiv) expectations, and revenue of $86.31 billion, slightly above estimates, advertising revenue of $65.52 billion was below expectations. YouTube, which has been…
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Microsoft beats expectations with strong AI-driven growth in Q3 results
At the end of trading on Tuesday (30), Microsoft (NASDAQ:MSFT) presented fiscal third-quarter results for December, surpassing Wall Street estimates and demonstrating significant progress in its artificial intelligence (AI) strategy. The company reported total revenue of $62 billion, beating estimates by about $1 billion. Earnings per share were $2.93, above analyst expectations of $2.76 per…