The technology stock rout continued in Friday afternoon trading as the S&P 500 and Nasdaq Composite were on track to fall for the sixth-straight session. The Nasdaq Composite was down 2.3% in recent trading, which would be its worst day since Dec. 15, 2022, according to Dow Jones Market Data. The S&P 500 was down 1.1%.
“We have no direct interest in stimulating Great Eastern liquidity or share price.”
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Bitcoin sells off alongside stocks amid wider market jitters. But now the technical backdrop for cryptos is even weaker.
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An interim dividend of 54 cents has been declared.
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SINGAPORE (Reuters) -Singapore's biggest bank DBS Group reported on Thursday first-quarter results that trumped expectations with broad-based growth and said it expects net profit to exceed last year's record result. Underpinned by robust business momentum as loans grew and both fee income and treasury customer sales reached new highs, net profit jumped 15% from the same period a year earlier to S$2.96 billion ($2.2 billion), beating market expectations for a 3.5% decline. Guidance that net profit would grow this year was more upbeat than in the previous quarter when DBS said only that it expected this year's net interest income to be around 2023 levels.
Apple on Thursday posted first-quarter revenue of $90.8 billion, down 4% year over year, as the iPhone maker continues to struggle with growth challenges, particularly in China, amid an uncertain economic environment.
Investors may be wondering if it's time to buy the post-earnings dip in AMD (AMD) and Super Micro Computer's (SMCI) stock as both are AI leaders.
Goldman Sachs, International Monetary Fund, and the Congressional Budget Office are the latest to warn it’s a looming problem.
The cryptocurrency is now trading below the average spot ETF purchase price of about $58K, and this could trigger liquidations, the report said.
Fed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Stocks like Coinbase Global, Inc. (COIN), Robinhood Markets, Inc. (HOOD) and NVIDIA Corporation (NVDA) are likely to benefit in the near term as the Bitcoin rally is poised to resume.
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STORY: The Japanese yen surged against the dollar in the early hours of Thursday. Traders said it looked like another round of intervention by Tokyo authorities to prop up the ailing currency. The dollar fell to 153 against the yen, from over 157 earlier, though it later clawed back much of the losses. It comes after the Japanese currency slid to multi-decade lows against the greenback. Speaking earlier in the week there was a hint of action from Vice Finance Minister Masato Kanda, who overseas yen policy: “The extreme and abnormal fluctuation caused by speculation and its negative impact on the national economy cannot be overlooked. Therefore, we would like to continue to take appropriate actions when necessary.”On Thursday there was no confirmation from the government that intervention had taken place. However, it’s thought a similar move also happened on Monday. Money market data the following day suggest Japan’s finance ministry spent $35 billion propping up the currency. The yen has been pummelled by factors including Japan’s very low interest rates compared to the U.S. Though the Bank of Japan did finally do a hike in March, a gulf remains. That’s likely to remain the case for some time, with stubbornly high inflation in the U.S. seen delaying rate cuts by the Federal Reserve. Such factors have seen the yen fall around 10% versus the dollar just this year.
Bitcoin fell more than 10% in the first three days of this week, the worst three-day stretch since August 2023.
This surpasses the company’s FY2023 profit before tax of $10.82 million.
This story was first published on the Benzinga India portal. As part of a significant cost-cutting strategy, Alphabet Inc's Google (NASDAQ: GOOGL) recently eliminated approximately 200 roles from its core team and relocated some positions to India and Mexico. The tech giant also slashed nearly 50 engineering roles stationed at its California headquarters. According to internal documents obtained by CNBC, Google intends to recruit new staff in India and Mexico to fill these vacated roles. The cor
The evening disruption comes just hours after DBS announced yet another record net profit of $2.96 billion for 1QFY2024.
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