ADVFN US – Market Content Editor
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TSMC Revenue Rises 13% in Q1, Alcoa Exceeds EBITDA Expectations Despite Loss, and More Earnings News
Taiwan Semiconductor Manufacturing Company (NYSE:TSM) – TSMC recorded a 9% higher net profit in the first quarter, reaching $6.98 billion, surpassing market expectations. Benefiting from the growing demand for semiconductors for artificial intelligence, the company had a revenue of $18.87 billion, an increase of 13% compared to the previous year. Shares are down -2.11% in…
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Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News
Apple (NASDAQ:AAPL) – Apple plans to invest over $250 million to expand its operations in Ang Mo Kio, Singapore, with two buildings acquired in 2022 undergoing a major upgrade. CEO Tim Cook emphasized the importance of connecting with the local community. Oracle (NYSE:ORCL) – Oracle announced on Wednesday an investment of more than $8 billion…
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U.S. Stocks Move Mostly Lower Amid Ongoing Interest Rate Worries
After showing a lack of direction early in the session, stocks have moved mostly lower over the course of the trading day on Wednesday. The major averages have all moved to the downside after ending the previous session narrowly mixed. The major averages have climbed well off their worst levels in recent trading but are…
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Analysts Sound Alarm on Fourth BTC Halving, Kraken Wallet Launch, and More Crypto News
Bitcoin approaches its fourth halving with market impact expectations Bitcoin (COIN:BTCUSD) is two days away from its fourth halving, an event that occurs every four years and will halve the block mining reward from 6.25 to 3.125 BTC. Historically, such events have been followed by significant increases in Bitcoin’s price. However, caution is advised this…
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Abbott Laboratories Reports Strong Q1 Sales Growth Amid Earnings Decline, Raises Full-Year Guidance
Abbott Laboratories (NYSE:ABT) reported on Wednesday a notable increase in its first quarter sales for 2024, which rose by 2.2% to reach $9.9 billion, surpassing analysts’ expectations. However, the company experienced a decline in net earnings, which fell by 7.0% to $1.2 billion, and diluted earnings per share (EPS) decreased by 6.7% to $0.70. Despite…
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US mortgage applications up 3.3%
Mortgage applications in the United States increased by 3.3% in the week ending April 12, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey published on Wednesday. According to the report, the average contract interest rate for 30-year fixed-rate mortgages jumped to 7.13% from last week’s 7.01%, reaching the highest level since December…
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EIA: US crude inventories up by 2.7M barrels
Crude oil stockpiles in the United States jumped by 2.7 million barrels to stand at 460.0 million barrels in the week ending April 12, the US Energy Information Administration shared in its report on Wednesday. The crude oil refinery inputs in the country averaged 15.9 million barrels per day, increasing 131,000 barrels per day from…
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Oil Inventories Report, 21-year Bonds Action Results Due
The Energy Information Administration is scheduled to release its report on oil inventories in the week ended April 12th at 10:30 am ET. Crude oil inventories are expected to increase by 1.6 million barrels after jumping by 5.8 million barrels in the previous week. The Treasury Department is scheduled to announce the results of this…
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Futures Pointing To Initial Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to see initial strength following the lackluster performance seen in the previous session. Traders may once again look to pick up stocks at relatively reduced levels following recent weakness in the markets. While the Dow managed to snap…
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US Index Futures See Gains, Oil Prices Dip
U.S. index futures displayed positive performance in pre-market trading on Wednesday, with S&P 500 aiming to halt a downward trend that persisted over the last three consecutive days. As of 6:23 AM, Dow Jones futures (DOWI:DJI) were up 146 points, or 0.39%. S&P 500 futures rose 0.36%, and Nasdaq-100 futures increased by 0.22%. The yield…