Reported about 2 months ago
In the second quarter of 2024, prominent investors including Stanley Druckenmiller, George Soros, and David Tepper sold off significant portions of their Nvidia shares as the tech sector faced a downturn. This move, reflected in U.S. 13F filings, comes after Nvidia's stock surged over 700% since early 2023. The sales were part of a broader trend among major funds cashing in on earlier gains amid concerns about future performance.
Source: YAHOO
Reported about 2 months ago
The UK economy is recovering steadily from last year's recession, with GDP rising by 0.6% in Q2 after a 0.7% increase in Q1, supported by growth in government spending and the services sector. As inflation eases, Prime Minister Keir Starmer aims to boost growth and improve public finances while facing challenges such as a contraction in the services sector in June and lower than expected consumer spending. Despite these challenges, there are optimistic indicators for continued growth in the second half of 2024.
Source: YAHOO
Reported about 2 months ago
The Motley Fool highlights two historically cheap growth stocks, Baidu and Fiverr International, as compelling investments despite market corrections. Baidu, a leading Chinese internet search engine, is poised for growth with its cloud services and AI investments. Fiverr, an online services marketplace, is adapting to post-pandemic work trends and leveraging AI to enhance its business model. With both stocks trading at low valuations, this is viewed as an opportune moment for long-term investors to consider them.
Source: YAHOO
Reported about 2 months ago
Lenovo Group Ltd. outperformed expectations with a 38% increase in quarterly net income, reaching $243 million, attributed to a rise in AI-related spending and a gradual recovery in the computing industry. Revenue surged by 20% to $15.4 billion, with Lenovo maintaining its lead in PC shipments during the June quarter. Despite geopolitical risks and concerns over economic conditions, the CEO expressed optimism that AI-powered devices will enhance growth in the coming years.
Source: YAHOO
Reported about 2 months ago
Kim Dotcom, the German-born tech entrepreneur linked to the defunct file-sharing site Megaupload, will be extradited from New Zealand to the United States after a lengthy 12-year fight against extradition. New Zealand's Justice Minister Paul Goldsmith signed the extradition order, enabling Dotcom to face charges that he and other executives cost the entertainment industry over $500 million. Dotcom has maintained his innocence, criticizing the decision on social media.
Source: YAHOO
Reported about 2 months ago
Embracer Group, owner of the Tomb Raider franchise, reported a staggering 50% decline in operating profit during the first quarter due to a reduced number of game releases. Despite expecting to launch games worth 3.9 billion Swedish crowns for the year, the company's Entertainment & Services segment saw a 54% drop in sales, contributing to a 6% fall in shares. The game developer has faced challenges like development delays and declining demand post-COVID, prompting a major restructuring after a failed $2 billion partnership last year.
Source: YAHOO
Reported about 2 months ago
Extreme heat alerts have been issued for Italy and parts of the Balkans, with temperatures in Greece expected to soar to 42C (108F), raising wildfire concerns. The situation is worsened by climate change, leading to increased heat waves and wildfires throughout the Mediterranean. Meanwhile, Mallorca in Spain is under threat of severe rainfall, prompting alerts for potential flooding and thunderstorms across regions.
Source: YAHOO
Reported about 2 months ago
Nvidia and Super Micro Computer stand out as top-performing AI stocks, having recently initiated stock splits to enhance affordability. Nvidia's strategic moves and dominant market position, especially in AI accelerators, are projected to drive its value up 245% by 2030 according to analysts. Supermicro, with a focus on high-performance computing for AI, may see its shares rise 165% based on current price targets. Analysts urge cautious investment, noting potential for substantial returns amid market volatility.
Source: YAHOO
Reported about 2 months ago
Dubai-based port operator DP World has announced a nearly 60% drop in half-year profits, down to $265 million from $651 million the previous year, due in part to disruptions caused by ongoing attacks from Yemen's Houthi rebels affecting shipping through the Red Sea. CEO Sultan Ahmed bin Sulayem noted that the geopolitical instability and supply chain disruptions are challenging, although he expressed optimism about the company's financial outlook for the remainder of the year.
Source: YAHOO
Reported about 2 months ago
China's new home prices declined 4.9% year-on-year in July, marking the steepest drop since 2015, as stimulus measures failed to restore confidence in the property market. This ongoing slump has raised concerns about the feasibility of Beijing's ambitious 5% GDP growth target for 2024. Efforts to support the sector, such as reducing mortgage rates, appear limited in their effectiveness due to broader economic challenges. Analysts indicate that more robust policy interventions will be necessary to stabilize the housing market.
Source: YAHOO
Reported about 2 months ago
Donald Trump's suggestion to exempt Social Security benefits from income tax may appear beneficial politically, but it poses significant risks to both Social Security and Medicare. Tax experts warn that the proposal could accelerate the depletion of reserve funds for these programs, resulting in larger cuts to benefits and more chaos in healthcare for seniors. Furthermore, the plan could add $1.6 trillion to the national deficit with minimal economic benefits, potentially increasing elderly poverty rates and jeopardizing access to essential healthcare services.
Source: YAHOO
Reported about 2 months ago
Donald Trump's proposal to exempt Social Security benefits from income taxes may weaken both Social Security and Medicare. Experts warn that this plan could accelerate the depletion of reserve funds for these programs, leading to increased cuts in benefits and chaos in healthcare for millions of seniors. The tax break is projected to add $1.6 trillion to the budget deficit without substantial economic benefits, ultimately jeopardizing the financial stability of seniors relying on these critical programs.
Source: YAHOO
Reported about 2 months ago
The U.S. Department of Justice has successfully argued that Google operates as an illegal monopoly, and now the court faces the challenge of determining appropriate remedies. Options being considered include breaking up Google, forcing it to share its search data with competitors, or modifying user defaults on devices and browsers. The implications of these changes could significantly alter the online search market, though experts debate how disruptive or meaningful these adjustments would be.
Source: YAHOO
Reported about 2 months ago
Chinese health-care stocks are showing signs of recovery following a challenging year, driven by supportive government policies and expectations of interest rate cuts from the Federal Reserve. The MSCI China Health Care Index has declined 23% this year, but recent measures to enhance the sector's growth and the anticipation of improved investor sentiment could foster a rebound. Analysts express optimism towards quality players in sub-sectors such as medical equipment and drug innovation, while highlighting the importance of navigating external challenges like the US Biosecure Act.
Source: YAHOO
Reported about 2 months ago
As summer market turmoil continues, investors are increasingly cautious, with many opting to sell stocks rather than re-enter the market. Concerns over a potential US recession and the recent surge in volatility—exacerbated by surprises from the Bank of Japan—have shifted sentiment from a buy-the-dip mentality to a more fearful approach. Asset managers anticipate further selling, particularly if upcoming economic data fails to reassure. With expectations of a volatile few months ahead, there are indications that mainstream investment managers may follow suit by adjusting their portfolios in response to ongoing market fluctuations.
Source: YAHOO
Reported about 2 months ago
Global stock markets saw an upward trend as Wall Street experienced a boost and Japan reported a 3.1% growth in its GDP for the April-June period. Key indices like France's CAC 40, Germany's DAX, and Japan's Nikkei 225 all recorded gains. Meanwhile, the U.S. inflation data remained stable, supporting expectations for a potential interest rate cut by the Federal Reserve in September.
Source: YAHOO
Reported about 2 months ago
China's economic outlook remains bleak as it experiences a prolonged downturn, with third-quarter indicators showing weak domestic demand, particularly in fixed-asset investment and housing. Despite a surprising increase in retail sales, the overall economic growth faces challenges, prompting calls for increased fiscal stimulus from the government to revive demand and achieve the targeted 5% growth this year. With mounting concerns over declining consumer confidence and falling home prices, experts warn of the risks of deflation that could hinder economic recovery.
Source: YAHOO
Reported about 2 months ago
Oil prices slightly increased after a two-day decline, influenced by rising tensions over a potential Iranian attack on Israel, which overshadowed a surprising increase in US crude stockpiles. Brent crude traded around $80 per barrel, while West Texas Intermediate hovered above $77. Despite the rise in US inventories, concerns about demand, especially from China, continue to weigh on the market.
Source: YAHOO
Reported about 2 months ago
China's industrial output grew by 5.1% in July, marking a slowdown for the third consecutive month and falling short of analysts' expectations, raising concerns about the recovery of the economy. While retail sales showed modest improvement, driven by new consumer-focused stimulus measures, the overall economic data indicates ongoing struggles, particularly in the property sector, contributing to weakened consumer confidence and spending.
Source: YAHOO
Reported about 2 months ago
Sachem Head Capital Management increased its stake in CVS Health Corp during Q2, purchasing 2.45 million shares as CVS's stock fell approximately 25%. Despite the firm's significant investment, speculation arises about potential activist investors pushing for corporate changes to enhance share prices, as CVS's stock has dropped 31% since January.
Source: YAHOO
Reported about 2 months ago
Source: INVESTORS
Reported about 2 months ago
Sahara AI, co-founded by USC associate professor Sean Ren, has raised $43 million to address copyright and privacy issues in AI technology. The funding, led by Pantera Capital and Binance Labs, will help the startup expand its team and develop a platform aimed at ensuring contributors to AI technology receive proper credit and compensation. The company, which has attracted major enterprise customers including Microsoft and Amazon, aims to create a decentralized infrastructure to facilitate a collaborative AI economy.
Source: YAHOO
Reported about 2 months ago
Equities surged in Japan and China following gains in the US, spurred by favorable economic reports, including Japan's faster-than-expected growth and signs of stabilization in China's retail and housing sectors. Investors seemed encouraged by US inflation data, hinting at potential interest rate cuts by the Federal Reserve. Major indices such as Japan's Topix and China's CSI 300 increased over 1%, while futures for the S&P 500 and Nasdaq also rose. Overall market sentiment remains optimistic as traders digest the economic landscape.
Source: YAHOO
Reported about 2 months ago
China's government bond issuance is set to double this month to combat falling yields, with expectations of reaching around 1.4 trillion yuan. Despite concerns over a slowing economy and record low yields, analysts predict that this surge in supply, coupled with recent policy interventions, may create barriers to further bond gains while limiting yield increases to support economic growth. However, demand for safe assets remains strong as recent economic data shows signs of weakness.
Source: YAHOO
Reported about 2 months ago
Chinese steelmakers have significantly cut their output due to falling demand and margin pressures, with July production dropping by about 9% compared to both the previous month and the same time last year. This decline is attributed to a prolonged downturn in the real estate market and decreasing factory activity, leading to lower domestic prices. Experts predict that steel consumption may decrease further this year, reflecting concerns over the industry's capacity and ongoing economic challenges in China.
Source: YAHOO