Category: Latest News
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New Home Sales, Oil Inventories Reports Due
The Commerce Department is scheduled to release its report on new home sales in the month of June at 10 am ET. New home sales are expected to climb to an annual rate of 640,000 in June after plunging to a rate of 619,000 in May. At 10:30 am ET, the Energy Information Administration is…
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Disappointing Earnings News Likely To Weigh On Wall Street
The major U.S. index futures are currently pointing to initial weakness on Wall Street on Wednesday, with stocks likely to come under pressure after ending yesterday’s lackluster session modestly lower. Early selling pressure is likely to be seen on Wall Street amid a negative reaction to the latest corporate earnings news. Shares of Tesla (NASDAQ:TSLA)…
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US Index Futures Fall Amid Tech Giant Earnings, Oil Prices Rise
U.S. index futures fell in pre-market trading on Wednesday, impacted by recent financial results from tech giants Tesla and Alphabet. Investors are watching for potential Federal Reserve interest rate changes and market recovery, focusing on upcoming earnings from companies like AT&T, General Dynamics, Ford, and IBM. At 4:55 AM, Dow Jones futures (DOWI:DJI) dropped 180…
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Meta Unveils Llama 3 AI Model, Elon Musk’s X Poll Backs Tesla’s $5B xAI Investment, and More
Meta Platforms (NASDAQ:META) – Meta launched the Llama 3 AI model, with 405 billion parameters, surpassing the previous version in language, coding, and math. Despite being smaller than rival models like GPT-4, Llama 3 offers free versions for developers, aiming to outshine competitors and drive innovation. Shares fell 1.7% pre-market. Tesla (NASDAQ:TSLA) – Elon Musk…
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Tesla Falls 7% on Profit Miss, Deutsche Bank Down 8% on Loss, Alphabet Drops 3% – Earnings Recap
Tesla (NASDAQ:TSLA) – Tesla reported adjusted earnings per share of 52 cents, below the expected 62 cents. Revenue was $25.50 billion, surpassing the forecast of $24.77 billion. Automotive sales fell 7%, totaling $19.9 billion. Tesla projects lower growth for 2024 and a focus on cost reduction. Shares fell 7.3% pre-market. Alphabet (NASDAQ:GOOGL) – Alphabet exceeded…
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Major Averages Finish Choppy Trading Session Modestly Lower
Stocks showed a lack of direction over the course of the trading session on Tuesday, with the major averages bouncing back and forth across the unchanged line following the strong upward move seen in the previous session. The major averages eventually ended the day modestly lower. The Dow slipped 57.35 points or 0.1 percent to…
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Ethereum ETFs Debut in High Demand, SingularityNET Invests in Supercomputer, dYdX Faces Security Issues
Ethereum spot ETFs debut with high demand and impressive volume Launched on July 23, the new Ethereum Spot ETFs attracted significant interest, with an impressive volume of $120 million in just 15 minutes and $361 million in the first 90 minutes. The Grayscale Ethereum Trust ETF (AMEX:ETHE) led with $147.8 million, followed by BlackRock’s ETF…
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Futures Pointing To Modestly Lower Open On Wall Street
The major U.S. index futures are currently pointing to a modestly lower open on Tuesday, with stocks likely to move back to the downside following the substantial rebound seen in the previous session. Traders may look to cash in on yesterday’s tech-led rally amid lingering uncertainty about the outlook for the markets. Later in the…
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U.S. Index Futures Dip Slightly as Investors Await Major Earnings Reports, Oil Prices Edge Up
U.S. index futures slightly retreated in pre-market trading on Tuesday as investors prepare for the release of earnings reports from major companies. At 6:17 AM, Dow Jones futures (DOWI:DJI) fell 4 points, or 0.01%. S&P 500 futures lost 0.15%, and Nasdaq-100 futures dropped 0.29%. The 10-year Treasury yield stood at 4.232%. In the commodities market,…
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SAP Shares Surge 6%, NXP Declines 8% on Lower-than-Expected Profits, and More Earnings Highlights
SAP (NYSE:SAP) – The enterprise software developer for management and business processes reported second-quarter revenue of €8.29 billion, above analysts’ estimates of €8.24 billion from LSEG. Adjusted earnings per share were €1.10, slightly above the €1.09 forecast. For the year, SAP reiterated its forecast for adjusted operating profit between €7.6 billion and €7.9 billion. Shares…