Stock Market
Asian stocks drift higher as rate cut bets grow; China lags
Most Asian stocks rose on Tuesday, tracking gains on Wall Street amid increasing expectations for a September interest rate cut, while Chinese markets lagged on concerns over a cooling economy and headwinds from U.S. politics.
US companies head into earnings facing high expectations
U.S. companies releasing quarterly results in the coming weeks face investors who expect no less than stellar growth, with estimates particularly high for Wall Street technology heavyweights such as Nvidia (NASDAQ:NVDA) and Microsoft (NASDAQ:MSFT).
Asian stocks surge as TSMC boosts tech; Nikkei at record high
Asian stocks rose on Thursday as technology stocks rallied after positive revenue figures from chipmaking giant TSMC sparked more optimism over artificial intelligence, with Japanese stocks crossing new peaks.
IAG stock surges as Morgan Stanley double upgrades to Overweight
Airline group IAG saw its share price surge Wednesday, climbing more than 3% after Morgan Stanley double-upgraded the stock to Overweight from Underweight, raising the price target to €2.80 from €2.10.
World shares mixed as investors await Powell testimony
Global shares were mixed on Tuesday as investors waited to see if U.S. Federal Reserve Chair Jerome Powell would sound supportive of rate cuts after evidence the U.S. labour market is cooling.
US agency screens record 3 million airline passengers in single day
Airlines for America said U.S carriers plan to fly more than 26,000 daily flights this summer, up nearly 1,400 over 2023, or 5.6%, when they carried 255 million passengers. The summer travel season forecast is for June 1 to Aug. 31.
US stock futures edge higher as nonfarm payrolls point to cooling economy
Equity markets were closed for the Independence day holiday on Thursday, but the Wall Street indexes were sitting at record highs hit earlier this week as a swathe of soft economic readings pushed up bets that the Federal Reserve will begin cutting interest rates by September.
Ericsson shares fall after another $1 billion Vonage impairment charge
“Given deterioration in the market environment and elective decisions we have made to refocus our investments in strategically prioritized areas, we have reassessed certain growth assumptions, resulting in a non-cash impairment of 11.4 billion Swedish crowns ($1.1 billion),” said Vonage CEO Niklas Heuveldop, who got the top job in February.
US stocks steady in holiday mood; Fed minutes in spotlight
Friday sees the release of the July nonfarm payrolls report, which could provide further clues over when the U.S. central bank will start its rate-cutting cycle, given strength in the labor market is another key consideration for the Fed in cutting interest rates.
US adds six companies to trade restriction list, four for training China’s military
Global Training Solutions Limited and Smartech Future Limited, both in China, as well as Grace Air (Pty) Ltd and Livingston Aerospace Limited of the United Kingdom, were added because of their ties to the Test Flying Academy of South Africa and the training of China’s military forces using Western and North Atlantic Treaty Organization (NATO)…