ADVFN US – Market Content Editor
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TSMC Net Profit Hits $7.6B; Nokia Sees 32% Decline in Operating Profit; Novartis Boosts Outlook After Profit Surge
Taiwan Semiconductor Manufacturing Company (NYSE:TSM) – TSMC exceeded earnings and revenue expectations in the second quarter with $20.82 billion in revenue and a net profit of $7.6 billion. Strong demand for advanced chips for AI applications drove a 40.1% increase in revenue and a 36.3% rise in profit year-over-year. TSMC also adjusted its capital expenditure…
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U.S. Stocks Close On Mixed Note; Dow Rises To New High, Nasdaq Tumbles
U.S. stocks turned in a mixed performance on Wednesday with geopolitical concerns and profit warning from Dutch semiconductor firm ASML (NASDAQ:ASML) rendering the mood cautious. Among the major averages, the Dow moved on to a new high, while the tech-laden Nasdaq ended sharply lower. The Dow ended with a gain of 243.60 points or 0.59…
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Bitcoin ETFs Surge, Grayscale Launches AI Fund, XRP Soars 40% in One Week
Bitcoin ETFs in the US attract inflows for seven consecutive days On July 16, Bitcoin exchange-traded funds (ETFs) in the United States saw a net inflow of $422.5 million, marking the most robust investment day since early June. This phenomenon occurred during a streak of seven consecutive days of gains, during which the funds accumulated…
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New Residential Construction Rebounds
The Commerce Department released a report on Wednesday showing a significant rebound by new residential construction in the U.S. in the month of June. The report said housing starts shot up by 3.0 percent to an annual rate of 1.353 million in June after plunging by 4.6 percent to a revised rate of 1.314 million…
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Tech Stocks May Lead Early Pullback On Wall Street
The major U.S. index futures are currently pointing to a sharply lower open on Wednesday, with stocks likely to give back ground after trending higher over the past few sessions. Tech stocks may lead an early pullback on Wall Street after a report from Bloomberg said President Joe Biden’s administration is considering tougher trade rules…
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Tech-Led Decline in U.S. Index Futures Pre-Market, Oil Prices Steady After U.S. Inventory Drop
U.S. index futures are registering a significant drop in pre-market trading this Wednesday, with the technology sector being the most affected. At 5:50 AM, Dow Jones futures (DOWI:DJI) fell 78 points, or 0.19%. S&P 500 futures lost 0.74%, and Nasdaq-100 futures retreated 1.23%. The 10-year Treasury yield stood at 4.17%. In the commodities market, oil…
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Spirit Airlines Cuts Revenue Forecast, J.B. Hunt Disappoints Analysts’ Estimates, and More Earnings Updates
Spirit Airlines (NYSE:SAVE) – Spirit Airlines reduced its revenue forecast for the second quarter to $1.28 billion, down from the previous estimate of $1.32-1.34 billion, due to lower ancillary revenue. Revenue per passenger is estimated at $64, below expectations. The adjusted negative operating margin is projected between 13.5% and 12.5%. Shares fell 6.33% in pre-market…
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HSBC Names New CEO, Tesla Moves Headquarters to Texas, ASML Faces Trade Restrictions, GitLab Considers Sale
HSBC Holdings (NYSE:HSBC) – HSBC has appointed Georges Elhedery, its current Chief Financial Officer, as the new CEO, reinforcing its strategy of continuity and growth. He will succeed Noel Quinn in September, marking the bank’s third leadership transition in less than eight years, maintaining its policy of internal promotion. As the new leader, Elhedery will…
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Dow Surges To New Record Closing High On Upbeat Earnings News
Extending the upward move seen over the two previous sessions, stocks moved mostly higher during trading on Tuesday. The Dow led the charge, surging to a new record closing high. The Dow jumped 742.76 points or 1.9 percent to 40,954.48, the S&P 500 climbed 35.98 points or 0.6 percent to a new record closing high…
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Mt. Gox Distributes Funds, Ether ETF Outlook, Zcash Decentralized Finance, WLD Soars
Distribution of Mt. Gox funds and its impact on the Bitcoin market Kraken exchange customers were informed via email that Mt. Gox refunds had been transferred to Kraken, with distribution expected within 7 to 14 days. Arkham Intelligence noted the movement of 48,641 Bitcoins, valued at $3.1 billion, from a Mt. Gox fiduciary wallet, suggesting…