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Disappointing Home Depot Results, Debt Ceiling Worries May Weigh On Wall Street
US Market 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 after ending yesterday’s lackluster session mostly higher. A negative reaction to quarterly results from Home Depot (HD) may weigh on Wall Street, with the home improvement retailer falling by…
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Tuesday’s Wall Street Highlights: Retail Sales, Amgen, Activision Blizzard, Capital One and More
Tuesday’s pre-market was marked by a climate of uncertainty in financial markets, with US Index Futures falling. All eyes on Wall Street were focused on an important meeting between Congressional leaders and President Joe Biden, at which the central issue was the US debt ceiling. By 08:30 AM, Dow Jones futures were down 94 points, or…
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EU Approves Microsoft-Activision Merger, New CEO Pay Disclosure, Buffett Bets on Capital One
Asian Equities Advance, Japan’s Topix Climbs Most Asian equities advanced, and Japan’s Topix benchmark (TOPIXI:TOPIX) climbed to its highest level since 1990. The renewed push by Japan’s corporates to increase buybacks and focus on returns is helping boost sentiment, with the Nikkei 225 Stock Average (NIKKEII:NI225) leading gains among Asia’s major benchmarks. Chinese equities on…
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EU Urges Crackdown on Indian Oil, China’s Economic Recovery Slows Down, Sweden to Limit Foreign Investments
US Government Faces Default Risk The US Treasury Secretary, Janet Yellen, has stated that the cost of government borrowing for bonds maturing in June has substantially increased. She has warned that the US government risks defaulting on its debt by next month if an agreement on raising the debt ceiling is not reached. In an…
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US Futures Slip, European Stocks Mixed
In the U.S. futures for the S&P 500 were down 0.1% and futures for the Dow Jones Industrial Average decreased 0.2% Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 declined 0.2% in morning trading. Koninklijke Philips rose 4.5% and Rolls-Royce Holdings added 3.1%. On the…
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Top Company News of the Day: Vodafone, Wells Fargo, Berkshire Hathaway, Elon Musk
Vodafone Forecasts Flat Profits; to Cut Jobs Vodafone said it expected adjusted Ebitda to be flat at around EUR13.3 billion this year, as it announced plans to cut 11,000 jobs over three years, admitting that its performance had not been good enough. Wells Fargo Agrees to Pay Shareholders $1 Billion to Settle Class-Action Suit Shareholders…
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U.S. Stocks Finish Lackluster Session Mostly Higher
Stocks turned in a relatively lackluster performance for much of the trading session on Monday but managed to end the day mostly higher. The tech-heavy Nasdaq reached its best closing level in well over eight months, while the Dow snapped a five-session losing streak. The major averages all finished the day in positive territory. The…
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Crypto this Monday: LTC rises with NFT market entry, Samsung and BOK Together for CBDC, and More
SEC revises $22 million fine against LBRY SEC seeks to reduce fine from $22 million against platform LBRY to $111,614 due to lack of company funds. LBRY claims to be financially ruined and alleges that the amount originally required by the SEC was overstated. ”The Commission acknowledges LBRY’s representations that it is bankrupt, ceasing operations and…
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Corporate Earnings, Bank Breakthroughs and the Debt Ceiling
This week’s focus will be on US debt ceiling negotiations (the next meeting between President Joe Biden and congressional leaders is set for Tuesday), speeches by Fed members, regional bank “breakthroughs”, and corporate earnings. Starting from the end, the corporate sector beat analysts’ expectations again: S&P 500 earnings fell 3% year-over-year versus an expected 7%…
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Optimism About Debt Ceiling Deal May Lead To Initial Strength On Wall Street
US Market The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to move back to the upside after ending last Friday’s trading modestly lower. Optimism about an eventual agreement on raising the U.S. debt ceiling may generate early buying interest following comments from Treasury Secretary Janet Yellen.…