Category: Top Story
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Economic Data Today: Consumer Confidence and LEI Report Loom
The University of Michigan is scheduled to release its revised reading on consumer sentiment in the month of May at 10 am ET. The consumer sentiment index for May is expected to be unrevised from the preliminary reading of 48.2, which was down from 49.8 in April and marked a new record low. Also at…
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Wall Street Ekes Out Gains as Nvidia Earnings Fail to Spark AI Rally
U.S. stocks closed modestly higher on Thursday as investors digested a mixed bag of earnings results, geopolitical developments around Iran, and rising Treasury yields. The session was choppy throughout, with a late-day push helping the major indexes finish in the green after spending much of the afternoon near the flatline. What Moved Markets The Dow…
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U.S. Stocks Seen Opening Lower as Oil Prices and Treasury Yields Climb: Dow Jones, S&P, Nasdaq, Wall Street Futures
U.S. stock index futures pointed to a weaker start on Thursday, with markets poised to surrender some of the gains recorded in the previous trading session. Investor sentiment has turned cautious again as crude oil prices move sharply higher and Treasury yields rebound. U.S. crude futures have jumped more than 2%, climbing back above the…
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Quantum computing stocks rally after report of planned $2 billion U.S. funding package
Shares of several quantum computing companies surged in U.S. premarket trading on Thursday following a media report that the Trump administration plans to award US$2 billion in grants to firms operating in the sector. According to a report by The Wall Street Journal citing the U.S. Commerce Department, the funding agreements are expected to include…
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Walmart shares slip after cautious outlook overshadows revenue beat (WMT)
Walmart (NASDAQ:WMT) shares fell 2% in premarket trading after the retail giant reported first-quarter revenue ahead of analyst expectations but issued earnings guidance that came in below Wall Street forecasts. The company generated revenue of US$177.8 billion during the quarter, surpassing analyst estimates of US$174.83 billion and rising 7.3% compared with the prior year. Adjusted…
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Quantum Computing Gets Washington’s Backing, and the Sector’s Next Wave May Extend Beyond Hardware
The Trump administration’s reported decision to award $2 billion in grants to leading quantum-computing companies marks one of the strongest signals yet that quantum technology has moved from experimental science into the realm of national strategic infrastructure. According to a Reuters report citing the Wall Street Journal, the U.S. Department of Commerce is expected to…
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AMD begins ramp-up of next-generation EPYC chips using TSMC’s 2nm technology (AMD)
Advanced Micro Devices (NASDAQ:AMD) announced that it has started ramping production of its sixth-generation AMD EPYC processors, known by the codename “Venice,” using Taiwan Semiconductor Manufacturing Company’s 2-nanometer manufacturing process. AMD said the launch makes Venice the first high-performance computing processor in the industry to enter production using TSMC’s advanced 2nm process technology. Initial production…
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IBM shares surge after securing $1 billion U.S. quantum computing award (IBM)
IBM (NYSE:IBM) shares climbed 6.6% on Thursday after the U.S. Commerce Department announced that the company would receive US$1 billion in government funding to accelerate the development of quantum computing technology. The grant forms part of a broader US$2 billion funding package allocated to nine quantum computing companies, according to a report by The Wall…
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Deere tops forecasts as construction and small agriculture divisions drive growth (DE)
Deere & Company (NYSE:DE) reported second-quarter earnings ahead of analyst expectations, supported by strong momentum in its construction and small agriculture businesses, sending shares up 2.2% in premarket trading on Thursday. The machinery manufacturer posted adjusted earnings per share of US$6.55 for the quarter ended May 3, exceeding analyst forecasts of US$5.70 by US$0.85. Quarterly…
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Nvidia targets next wave of AI growth with new data centre chips and expanding customer base (NVDA)
NVIDIA (NASDAQ:NVDA) chief executive Jensen Huang sought to reassure investors on Wednesday that the company can maintain its rapid growth trajectory through a broader customer base and the launch of new data centre products, while projecting that sales of its flagship AI chips could exceed US$1 trillion. Despite forecasting second-quarter revenue above Wall Street expectations…