Stocks were on pace for modest gains on Monday as traders braced for a week packed with economic data, key earnings reports and a Federal Open Market Committee meeting. The Dow Jones Industrial Average was up 64 points, or 0.2%. The Nasdaq Composite rose 0.2%.
China has been pushing for businesses to leave the door open for customers to use cash, with foreigner visitors saying they're struggling to spend.
Analysts see Nvidia's earnings per share soaring 474% to $5.22, with revenue up 241% to $24.5 billion.
Over the past few years, Michael Burry has gained more media attention with his recession warnings and market crash “predictions” than he did for accurately foreseeing the 2008 financial crisis. But his persistent warnings about recession and market crashes never realized, denting his reputation as an expert and hedge fund manager. Were Michael Burry’s Recession […]
MPACT and Keppel DC REIT, at second and third place, were neck and neck at $54.6 million and $54.3 million respectively.
The Nasdaq hit a fresh record Monday as leading bourses mostly rose, while gold also scored a new all-time high as the shock death of Iranian President Ebrahim Raisi helped bolster the haven investment."Gold and copper have hit record highs, (and) silver jumped to an 11-year high... after the death of Iran's president in a helicopter crash," noted Neil Wilson, chief market analyst at Finalto trading group.
Gold prices rose to an all-time high on Monday as a cocktail of factors from U.S. rate cut expectations, China's stimulus measures to geopolitical tensions lifted demand, with the momentum also carrying silver to a more than 11-year peak. Spot gold rose 0.9% to $2,435.96 per ounce as of 2:26 p.m. ET (1826 GMT) after hitting a record high of $2,449.89 earlier in the session. Data last week showed that U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend, boosting expectations for a September interest rate cut.
The stock rebounded from a Monday loss sparked by disappointing results from Li Auto. XPeng’s earnings were surprisingly strong.
Mega-wealthy Japanese will contribute to a more than 30% surge in the value of assets they invest by the end of the decade as cash-heavy households deploy more in markets, according to an analysis by Morgan Stanley.
The Fed's goal of keeping rates high until inflation falls to 2% has significant implications for consumers, investors and the U.S. economy.
HOUSTON (Reuters) -Oil prices fell more than 1% on Tuesday as lingering U.S. inflation was poised to keep interest rates higher for longer, which could impact consumer demand at the pump. Brent crude futures fell by $1.16, or 1.4%, to $82.55 a barrel by 11:45 a.m. ET (1545 GMT). The more active July contract lost $1.08, or 1.4%, to $78.22.
Despite a strong start to the year for stock markets, investors in Starbucks (NASDAQ:SBUX) have been left bitterly disappointed with its shares down by approximately 20% at the time of this writing. After the earnings miss, Laxman Narasimhan, the new CEO of Starbucks, appeared on Jim Cramer's Mad Money to try and explain both the results and the company's path forward. Don't Miss: Startup behind ‘the #1 free contractor app' grows 162% YoY, opens its doors for investors at a $100 minimum. Invest
BABA, ASGN and BGS have been added to the Zacks Rank #5 (Strong Sell) List on May 20, 2024.
Truth Social earned $770,500 from advertising, according to the earnings report, which is down from $1.1 million the same time last year.
The Nasdaq closed at a record high on Monday while the S&P 500 gained slightly as technology stocks advanced ahead of Nvidia's highly anticipated earnings and investors gauged the timing of an interest rate cut by the Federal Reserve. The S&P 500 technology index led gains among the 11 major S&P sectors, rising 1.32%, helped by chipmakers such as Nvidia, which advanced 2.49% ahead of its quarterly results on Wednesday. Investors will look for evidence in Nvidia's earnings that the AI chip leader can maintain its explosive growth and stay ahead of rivals.
XPeng stock was soaring Tuesday after the Chinese electric-vehicle maker reported better-than-expected first-quarter numbers. A year ago, XPeng reported a per-share loss of 38 cents on sales of $573 million. Quarterly gross profit margins were about 13%, up about 11 percentage points year over year and about 2 percentage points better than analysts’ forecasts.
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Morgan Stanley chief investment officer Mike Wilson believes an improving growth outlook and an earnings rebound will drive the S&P 500 higher over the next year.
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Hong Kong stocks declined by the most in five weeks, pulling back from 10-month highs as Li Auto's earnings fell short of market expectations and sparked concerns about corporate financial performances in the world's second largest economy. The Hang Seng Index lost 1.9 per cent to 19,265.74 as of 3.30pm local time, the biggest retreat since April 16. The Tech Index lost 3.8 per cent while the Shanghai Composite Index weakened 0.4 per cent. EV maker Li Auto's plunged 18.7 per cent to HK$81.20, it
Investors biding their time for Nvidia results looked to retail earnings and Fedspeak for clues to the economy.
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