Category: Market Summary
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US Futures Mixed, European Stocks Rise as Debt-Ceiling Talks in Focus
In the U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average were flat. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.4% in morning trading. Orron Energy added 4.1% and VAT Group climbed 3.7%. On the…
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Optimism About Debt Ceiling Deal Contributes To Extended Rally On Wall Street
Following the rally seen during Wednesday’s session, stocks showed another strong move to the upside during trading on Thursday. With the continued advance, the Nasdaq and the S&P 500 reached their best closing levels in about nine months. The major averages reached new highs for the session going into the close of trading. The Nasdaq…
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Crypto this Thursday: Coinbase Cloud Joins Chainlink, Hong Kong Launches e-HKD Pilot Program, and More
Hong Kong launches e-HKD pilot program Hong Kong has started testing its local digital currency, the e-HKD, allowing the public to shop, dine out and transfer money. Sixteen banks and selected companies will participate in the test to explore different use cases such as online payments, in-store payments and collecting government payments. Test results will be released…
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Semiconductors Shift to Japan, Walmart Exceeds Earnings Expectations, Alibaba Begins Breakup with IPOs
Optimism Surrounds Greek Stocks Investors are optimistic about Greek stocks, expecting the country to regain its investment-grade status and demonstrate fiscal discipline and economic resilience. Greek stocks have been among the best performers globally this year, with the Athens Stock Exchange General Index (EXAE:AT) up 22%. Semiconductors Shift to Japan Ahead of the G7 summit,…
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Thursday’s Wall Street Highlights: Walmart, Alibaba, Deutsche Bank, Snowflake and more
US Index Futures were mixed on Thursday, on optimism that talks to raise the country’s debt ceiling are progressing, and traders digesting gains from Walmart and Alibaba, as well as reports of weekly unemployment claims numbers, the Philadelphia Fed’s manufacturing survey numbers for May, and awaiting existing home sales data for April. By 08:45 AM,…
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Micron Invests in Japanese Memory-Chip Manufacturing, BT Group to Reduce Workforce by 42%
Deutsche Bank Settles Epstein Case Deutsche Bank (XE:DBK) has agreed to pay $75 million to settle accusations that it benefitted from human trafficking by retaining Jeffrey Epstein as a client. Lawyers describe this settlement as potentially the largest sex-trafficking settlement involving a banking institution in American history. The allegations against the German bank revolved around…
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U.S. Stocks Rally On Optimism About Debt Ceiling Deal
After ending Tuesday’s session mostly lower, stocks showed a substantial move back to the upside during trading on Wednesday. The Dow bounced off its lowest closing level in over a month, while the tech-heavy Nasdaq reached a nearly nine-month closing high. The major averages moved roughly sideways in the final hour of trading, holding on…
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Tencent’s Revenue Rises, IBM and Google Invest in Quantum, Deutsche Bank to Reduce Office Space
Tencent’s Revenue Rises Tencent (HKF:0700), the Chinese tech giant, experienced accelerated revenues in the first quarter as the country’s economy rebounded after the end of its zero-Covid policy. In the three months leading up to March, the social media and gaming group reported an 11% rise in revenue, reaching Rmb150bn ($21bn) compared to the same…
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Wall Street Highlights for Wednesday: Target, Tesla, Western Alliance, AT&T and more
US Index Futures operated in positive territory on Wednesday, with investors awaiting news on talks between congressmen and President Joe Biden over the US debt ceiling, while awaiting data on housing and building permits. American markets are still echoing the surge in Western Alliance shares in the after hour, after the bank recorded growth in deposits,…
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UBS Anticipates Cash Boost, ServiceNow Launches Share Buyback, JD Sports Reports Profit Drop
UBS Anticipates Cash Boost UBS (NYSE:UBS), the Swiss bank, anticipates receiving a substantial cash boost from its acquisition of Credit Suisse, a former competitor, amounting to billions of dollars. The combined firms’ negative goodwill, resulting from the purchase of a rival below tangible book value, has reached $34.8 billion as of the end of 2022.…