Alibaba Group Holding Ltd. and Tencent Holdings Ltd. lost $66 billion of market value in roughly 24 hours, after the market punished the twin leaders of China’s tech arena for failing to lay out clear visions for how to profit off artificial intelligence. Alibaba’s US shares fell their most since October, following Tencent’s worst drubbing […]
Gold headed for the biggest weekly loss in six years, as war in the Middle East boosted energy and reduced expectations for rate cuts. Bullion traded near $4,685 an ounce, down almost 7% this week, the most since March 2020. Soaring crude, natural gas and fuel prices triggered by the conflict are raising inflation concerns, […]
BEIJING, March 24 (Reuters) – Chinese electric vehicle maker BYD’s (002594.SZ), opens new tab net profit leapt 73.1% in the fourth quarter of 2024 to a record 15 billion yuan ($2.1 billion), it said on Monday, reaping the rewards of lower prices and higher sales than rivals. Fourth-quarter revenue was up 52.7% at 274.9 billion […]
Tesla stock (TSLA) led gains among the “Magnificent Seven” on Monday, surging nearly 12% amid investor optimism that President Trump’s tariff plans may not be as wide-reaching as previously anticipated. Reports that Trump will hold off on bringing in levies on the auto sector on April 2 eased worries that Tesla’s bottom line would be […]
NEW YORK, March 12 (Reuters) – Global stocks rose on Wednesday with U.S. Treasury yields as relief over cooler U.S. inflation in February was countered by uncertainty around U.S. President Donald Trump’s tariff policies and their potential impact on inflation and global growth. Oil prices settled higher after data on slower stockpile builds, while the […]
American Eagle warned investors on Wednesday that consumers are pulling back on spending and it’s seen a “slower start” to the year than it expected. “Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather,” CEO Jay Schottenstein said in a news release. “While we anticipate […]
Donald Trump’s election helped turbocharge an already surging bull market in the U.S., sending stocks and cryptocurrencies to record highs. Now, some on Wall Street are beginning to sound the alarm that the fast times can’t last. JPMorgan Chase CEO Jamie Dimon and others have warned that investors are plowing cash into stocks with inflated […]
The Nasdaq Composite fell more than 1% on Monday, with big technology stocks creating the biggest drag as investors worried about demand for technology supporting artificial intelligence while they waited for results from market heavyweight Nvidia. The S&P 500 closed slightly lower, marking its third straight day of declines, while the Dow managed to eke […]
U.S. stocks plummeted on Friday on poor economic news. Consumer confidence weakened to the lowest level since November 2023, even as long-run inflation expectations rose to the highest since 1995. The services purchasing managers’ index fell into contractionary territory and January home sales contracted by more than expected. As the day ended, the Dow Jones […]
Retail investors haven’t traded stocks this much since another mania took over Wall Street three years ago. Data compiled by JPMorgan shows that the share of small investors trading in U.S. stocks has reached 25%. That’s more than double the levels seen before the Covid-19 pandemic and close to the record seen at the beginning […]
The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings. Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Analysts were expecting […]
Feb 20 (Reuters) – Stubborn inflation and President Donald Trump’s hard-line trade policies have rekindled fears of stagflation, a worrying mix of sluggish growth and relentless inflation that haunted the U.S. in the 1970s, even as markets remain upbeat on his pro-growth agenda. The potential return of stagflation, which would pressure a range of assets, […]
