The stock market’s rally continued on Tuesday as earnings season rolled on and an update on manufacturing came in cooler than expected. The Nasdaq Composite was up 1.4%. Sevens Report Research’s Tom Essaye told Barron’s that though upbeat earnings reports set a positive tone, the market was gaining after the S&P Global Flash U.S. Composite PMI came in lower than expectations.
“We have no direct interest in stimulating Great Eastern liquidity or share price.”
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Apple CEO Tim Cook boasted about the company's upcoming generative AI plans during the iPhone maker's Q2 earnings call.
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.
Goldman Sachs, International Monetary Fund, and the Congressional Budget Office are the latest to warn it’s a looming problem.
The tech giant says demand for its smartphones fell more than 10% in the first three months of the year.
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.
The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the level at a 23-year high to fight stubborn price increases.For months, the US central bank has held its benchmark lending rate at a high level to cool demand and rein in price increases -- with a slowdown in inflation last year fueling optimism that the first cuts were on the horizon.
Surprisingly upbeat Apple earnings were boosting spirits in the wait for the monthly jobs report.
Given her no nonsense approach to building wealth, it's not surprising that financial guru, Emmy-winning TV host and popular podcaster Suze Orman recommends certain risk-averse investments to her...
Fed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
Bitcoin fell more than 10% in the first three days of this week, the worst three-day stretch since August 2023.
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.
This surpasses the company’s FY2023 profit before tax of $10.82 million.
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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
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