Entertainment & Business News
Japan is gearing up to release crucial data on Friday, shedding light on its interventions in the foreign exchange market throughout May. These interventions were aimed at shoring up the yen, preventing it from plummeting to new lows against the dollar. While these measures managed to temporarily stabilize the currency, their ability to reverse its …
Continue reading “Japanese Data to Confirm FX Intervention Amid Persistent Yen Weakness”
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently made a significant announcement that Direct File, a no-cost tax filing option, will become a permanent feature starting in 2025. This decision follows the successful completion of a pilot program where 140,000 taxpayers utilized Direct File to claim over $90 million in …
Nio, the Chinese electric vehicle (EV) pioneer, experienced a meteoric rise in its shares on the Hong Kong stock exchange, fueled by optimistic projections regarding its delivery performance for the month of May. Investors witnessed a remarkable surge of 10% in Nio’s share price, reaching 42.10 Hong Kong dollars (equivalent to approximately US$5.38). Analysts, buoyed …
Continue reading “Nio Shares Surge in Hong Kong on Prospects of Record Sales in May”
Australian Retirement Trust (ART), one of the largest pension funds in the country managing over AUD 280 billion, is reevaluating its investment strategy amid shifting market dynamics. With a growing sentiment that stocks may have exhausted their potential for surprising returns, ART is adjusting its asset allocation by reducing exposure to equities and increasing investment …
On Thursday, the stock market experienced a notable downturn, deepening the losses accrued earlier in the week. This shift in market sentiment was primarily driven by heightened anticipation surrounding upcoming inflation data, particularly the release of the personal consumption expenditures price index on Friday morning. Market participants were keenly aware that this data could significantly …
Costco Wholesale, a prominent player in the retail industry, recently disclosed its fiscal third-quarter earnings, which fell slightly short of market expectations, leading to a decline in its stock price during after-hours trading. Despite posting a 9.1% year-over-year increase in revenue to $57.4 billion, Costco narrowly missed analyst forecasts of $58 billion for the quarter …
In May, China witnessed a noticeable deceleration in factory activity, adding to the mounting pressure on an economy already grappling with the protracted crisis in its property sector. This development was underscored by an official survey released by the China Federation of Logistics and Purchasing, which revealed a drop in the manufacturing Purchasing Managers’ Index …
Continue reading “China’s May Factory Indicator Dips, Indicating Growth Slowdown”
The S&P 500 Index and Dow Jones Industrial Average (DJIA) encountered an unexpected hurdle during Thursday’s trading session, with live pricing for these critical indices temporarily freezing. The glitch, which occurred around 10:41 a.m. ET, was confirmed by the CME Group, which noted issues affecting the calculation of these key market indicators. Despite the setback, …
In the realm of global financial markets, Asian shares showcased resilience despite Wall Street’s recent downturn, reflecting a blend of regional economic indicators and investor sentiment. On Friday, Tokyo’s Nikkei 225 index edged up by 0.2%, reaching 38,119.96 points, while Seoul’s Kospi index saw a 0.4% gain, closing at 2,646.44 points. Even amidst signs of …
The recent uptick in mortgage rates to above 7% marks a notable setback for the U.S. housing market, amplifying challenges for prospective homebuyers already grappling with soaring prices and limited affordability. This development is particularly significant as it coincides with a period of sluggish growth and uncertainty in the broader economy. Amidst this backdrop, data …
