Reported 2 months ago
UK house prices have increased for the third consecutive month, reflecting a stabilizing market despite the highest borrowing costs in 16 years. Nationwide Building Society reported a 0.3% rise in July, following a 0.2% increase in June, contributing to an annual price increase of 2.1%. With ongoing mortgage approvals around 60,000 per month, experts believe that potential interest rate cuts from the Bank of England could further boost buyer confidence and activity in the housing sector.
Source: YAHOO
Reported 2 months ago
Meta Platforms saw its shares in Frankfurt climb by 7.9% after exceeding market expectations with a 22% revenue increase to $39.1 billion for the second quarter. The positive results contributed to a 2.5% rise in regular trading, followed by an additional 5% increase in after-hours trading.
Source: YAHOO
Reported 2 months ago
Japanese stocks experienced their largest decline since April 2020, with the Topix index falling 3.2% as a stronger yen negatively impacted exporters and the Bank of Japan's interest rate hike affected real estate shares. Key companies like Toyota saw significant drops in stock value, contributing to the market downturn, as concerns over economic stability and corporate earnings added to the sell-off.
Source: YAHOO
Reported 2 months ago
Toyota reported a record profit of 1.33 trillion yen ($8.9 billion) for the April-June quarter, aided by a weak yen and improved vehicle sales globally, despite a certification scandal that temporarily halted production in Japan. The automaker's quarterly sales rose 12% to 11.8 trillion yen ($79 billion), although overall vehicle sales slightly declined to 2.25 million units. Toyota maintained its profit forecast for the fiscal year 2025 at 3.57 trillion yen ($24 billion).
Source: YAHOO
Reported 2 months ago
The Bank of England is contemplating its first interest rate cut since the early days of the COVID-19 pandemic, currently holding a rate of 5.25%. As inflation meets the target rate of 2%, economists are divided on whether a quarter-point cut will happen this Thursday or be postponed until September due to lingering concerns about inflation in the services sector. Critics argue that the bank's cautious approach could unnecessarily hinder economic growth.
Source: YAHOO
Reported 2 months ago
OPEC+ ministers are set to convene to discuss their output policy, with sources indicating that no changes are likely despite recent declines in oil prices. The group, which includes key producers like Saudi Arabia and Russia, is currently cutting production by approximately 5.86 million barrels per day and aims to gradually unwind these cuts starting in October 2024.
Source: YAHOO
Reported 2 months ago
In response to heavy rains and a surplus of wheat that has driven prices near three-year lows, China is increasing state purchases of wheat to stabilize the market. Recent weather conditions have prompted farmers to sell quickly to avoid crop damage, significantly affecting local prices. Despite a record wheat harvest of 138 million tons this year, demand remains weak, and the Chinese economy's sluggish performance is further hindering wheat consumption.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 3 months ago
Source: BARRONS
Reported 3 months ago
Oil prices rose in early Asian trading following the assassination of a Hamas leader in Iran, raising fears of a broader Middle East conflict. Brent crude futures gained 67 cents to $81.51 per barrel, while U.S. West Texas Intermediate rose 69 cents to $78.60 per barrel. Concerns about potential oil supply disruptions, along with strong demand data from the U.S., contributed to the increase in prices.
Source: YAHOO
Reported 3 months ago
Nuclear energy stocks experienced a significant increase as the largest U.S. power grid operator reported a ninefold price surge in its auction, reaching $262.92 per megawatt-day for the 2025-2026 period. Constellation Energy and Vistra saw their shares rise by over 12% and nearly 15%, respectively, with both companies expected to announce second-quarter earnings soon. This rally comes amidst a growing demand for electricity driven in part by data centers and advancements in artificial intelligence.
Source: YAHOO
Reported 3 months ago
South Korea experienced its fastest export growth in six months in July, with a 13.9% increase year-on-year, driven by robust semiconductor sales. However, this growth fell short of market expectations, raising concerns about China's economic recovery. While semiconductor exports soared by 50.4%, overall exports were tempered by a decline in automobile shipments. The trade balance showed a modest surplus of $3.62 billion for July.
Source: YAHOO
Reported 3 months ago
Oil prices surged following reports that Iran has ordered a retaliatory strike against Israel after the assassination of a Hamas leader. Brent crude surpassed $81 a barrel, raising concerns about potential disruptions to oil supplies amid escalating tensions in the Middle East and ongoing OPEC+ production plans.
Source: YAHOO
Reported 3 months ago
President Xi Jinping's welcoming of Italian Prime Minister Giorgia Meloni underscores China's growing influence in Europe and the strategic value it places on bilateral relationships. During her visit, Meloni secured cooperation deals while refraining from criticizing China's support for Russia and emphasized the need to rebalance trade ties. This diplomatic engagement reveals China's interest in differentiating between EU leaders and potentially exploiting divisions within the bloc as it seeks to navigate pressures from a more aggressive US stance on trade.
Source: YAHOO
Reported 3 months ago
In the backdrop of rising tensions with China, many Taiwanese citizens, like August Chuang, see investments in Taiwan Semiconductor Manufacturing Co. (TSMC) not only as financial security but also as patriotic acts to safeguard their homeland. With TSMC's pivotal role in global technology and its contributions to Taiwan's economy, local investors' confidence in the chipmaker symbolizes a collective hope that its success will deter potential threats from China. Despite some concerns over high valuations and foreign sell-offs, TSMC remains a cornerstone of Taiwanese identity and resilience.
Source: YAHOO
Reported 3 months ago
Asian stocks and U.S. futures rose significantly as expectations grew that the Federal Reserve will soon lower interest rates. The yen strengthened following comments from Fed Chair Jerome Powell, indicating an imminent rate cut, which boosted investor confidence. Australian and South Korean shares gained alongside a tech rally in the U.S., while commodities like West Texas Intermediate crude saw significant rises.
Source: YAHOO
Reported 3 months ago
Following indications from Federal Reserve Chair Jerome Powell about potential interest rate cuts as early as September, Asian markets are expected to see a positive trading day. The likelihood of Fed easing has strengthened regional currencies, particularly the yen, which has risen against the dollar after Japan's central bank implemented its own rate hikes. Analysts forecast that this dovish stance from the Fed could boost confidence in Asian stocks, particularly in sectors such as technology, indicating a broader positive outlook for the region.
Source: YAHOO
Reported 3 months ago
Albemarle Corporation has suspended its expansion plans in Australia due to a significant decline in lithium prices, which have dropped approximately 80% from their peak in 2022. The company is halting construction at its Kemerton plant and plans to undergo a review of its costs and operations, expecting to incur a charge of $900 million to $1.1 billion in Q3. This market downturn, exacerbated by slower-than-anticipated demand for electric vehicles and an oversupply, poses challenges for Australia's position as a leading lithium supplier and complicates global efforts to reduce reliance on Chinese production.
Source: YAHOO
Reported 3 months ago
Singapore’s Keppel Corporation showcased a 7% rise in first-half underlying profit, reaching S$513 million, owing to strong performances from its infrastructure and connectivity sectors. The company's ongoing transition to a global asset manager is paying off, reflected in a more than 100% increase in asset management profits. Despite a decline in real estate contributions, Keppel aims to enhance its recurring earnings from technology solutions and energy services, targeting over S$100 million annually by 2027.
Source: YAHOO
Reported 3 months ago
Elon Musk's xAI has initiated discussions regarding the potential acquisition of Character.AI, an AI chatbot startup valued at over $5 billion. While talks are underway, details on their progression remain unclear, and both parties have not confirmed specifics. Character.AI, launched in 2021 by Google alumni, allows users to create personalized chatbots, amassing a wide user base. A successful deal would integrate Character.AI more closely with xAI's offerings, notably its Grok platform, which aims to deliver a unique conversational experience.
Source: YAHOO
Reported 3 months ago
Following AMD's impressive second-quarter earnings report, analysts have adjusted their stock price targets. Despite being the second-largest vendor in data-center GPUs, AMD showcased significant revenue growth, particularly in its MI300 GPU and EPYC CPU sales. While some analysts downgraded their targets, others remain optimistic about AMD's performance despite ongoing competition with Nvidia, acknowledging the company's solid balance sheet and growth potential in the AI sector.
Source: YAHOO
Reported 3 months ago
C.H. Robinson reported a notable increase in earnings for the second quarter, exceeding expectations for the second consecutive quarter, which positively influenced its stock price. CEO Dave Bozeman credited the impressive results to a newly implemented operating model that focuses on evaluating key performance metrics. The company saw significant improvements in adjusted gross profit across various segments, despite experiencing a slight revenue decline in the North American Surface Transportation segment. The overall adjusted operating margin rose sharply, reflecting Bozeman's strategies made over the past year.
Source: YAHOO
Reported 3 months ago
Certificates of deposit (CDs) offer higher interest rates for savers, but the interest earned is considered taxable income by the IRS. To help mitigate or delay these taxes, individuals can hold CDs within tax-deferred retirement accounts like IRAs, utilize 529 plans for educational expenses, or invest in CDs through Health Savings Accounts (HSAs). By employing these strategies, savers can effectively manage their tax liabilities on CD earnings.
Source: YAHOO
Reported 3 months ago
With the S&P 500 reaching record highs, Morningstar emphasizes caution for investors and highlights 20 undervalued stocks worth considering. The list includes well-known companies like Anheuser-Busch InBev, Bristol-Myers Squibb, Nike, Starbucks, and Taiwan Semiconductor Manufacturing, all rated for competitive advantages and strong capital allocation. Analysts from Morningstar believe these stocks are trading below their fair value, offering a good opportunity for long-term investment.
Source: YAHOO
Reported 3 months ago
Federal Reserve Chair Jerome Powell indicated that the central bank is likely to cut interest rates in September due to worries about a weakening labor market, unless inflation progress stalls. While inflation has declined significantly, Powell expressed the need for a careful balance between lowering rates to stimulate the economy and avoiding a resurgence of inflation. The job market remains solid with a current unemployment rate of 4.1%, and the Fed aims to maintain both inflation control and job market stability.
Source: YAHOO