ADVFN US – Market Content Editor
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Top Company News of the Day: Rivian, Lyft, WeWork, Sony Group
Rivian’s Loss Narrows as Production Speeds Up The EV truck and sport-utility maker raised its production guidance for the year after a better-than-expected second quarter. Lyft Increased Revenue, Trimmed Loss During Tumultuous Quarter The ride-share company projected a better-than-expected outlook for the current period. WeWork Raises Doubt About Its Survival WeWork on Tuesday raised doubt…
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U.S. Stocks Close On Weak Note Despite Coming Off Day’s Lows
After a weak start and a subsequent sharp fall, stocks recovered gradually on Tuesday, but still ended the day’s session in negative territory. The major averages all ended notably lower, but well off the session’s lows. The Dow, which was down by about 470 points at one stage, ended the day with a loss of…
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Bank Rating Downgrade Brings Down Market
The main American exchanges ended this Tuesday’s session in a fall, after the risk rating agency Moody’s downgraded the rating of several small financial institutions in the United States, causing risk aversion in global markets as well. The Dow Jones, S&P500 and Nasdaq 100 all fell 0.45%, 0.42% and 0.87%, respectively. Around 17:00, the yields…
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Oil Futures End The Day Higher With Optimistic Forecasts For The US Economy
Oil futures prices ended the day higher after falling earlier in the morning. The reversal was caused by the US Government’s Energy Information Administration’s optimistic projection of demand and the economy.“A monthly report by the agency projected that Gross Domestic Product (GDP) growth would increase by 1.9% in 2023, up from 1.5% in a previous…
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Generative AI Market To Hit $1.3 Trillion By 2032, Says BlackRock
The artificial intelligence (AI) market will reach $1.3 trillion by 2032, according to the projection of Jeff Spiegel, head of Megatrends and international ETFs at BlackRock. According to him, in 2022, this market was valued at around US$ 40 billion. During a panel at the TAG Summit, held today by the manager TAG Investimentos, Spiegel…
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European Stocks Close Lower, Driven By Banks And China
European stock markets closed lower today, extending the losses of the previous session, pressured by bad balance sheets, such as that of Glencore, whose profit fell by half because of the drop in demand in China. The weak data of the Chinese trade balance, published at dawn, also pressured the main indices. Bank shares fell…
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Crypto this Tuesday: Coinbase’s Millionaire Bond Buyback, Binance Gets License in El Salvador, and More
Coinbase celebrates high with millionaire bond buyback managed by Citigroup After robust Q2 performance, Coinbase (NASDAQ:COIN) has proposed to buy back up to $150 million of its $1 billion bond, due in 2031. Investors who sell bonds by Aug. 18 will receive $645 for $1,000 of the face value; after that date and through September 1,…
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Moody’s Downgrades US Banks Over Rising Costs And Office Exposure
Moody’s Investors Service has downgraded the credit ratings of 10 small and medium-sized U.S. banks and said it may downgrade larger creditors, including the U.S. Bancorp (NYSE:USB) , Bank of New York Mellon Corp (NYSE:BK), State Street Corp (NYSE:STT) and Truist Financial Corp (NYSE:TFC), as part of a comprehensive review of mounting pressures on the…
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US Trade Balance Posts $65.5 Billion Deficit In June
The US trade balance registered a deficit of US$ 65.5 billion in June, after showing a deficit of US$ 68.3 billion in May, according to the country’s Department of Commerce. Analysts had expected a $65.0 billion deficit in June. Exports totaled US$ 247.4 billion in June, which represents a drop of 0.14% in relation to…
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U.S. Stocks May Move Back To The Downside In Early Trading
US Market The major U.S. index futures are currently pointing to a lower open on Tuesday, with a Moody’s downgrade of several banks likely to weigh on the markets. U.S. stocks closed on a firm note on Monday, recovering well after recent sharp losses, as investors looked ahead to more earnings updates and data on…