Reported 5 months ago
Bank of America's strategist Michael Hartnett warns that the global equity market rally is nearing a sell signal, as about 71% of equity indexes are trading above both their 50- and 200-day moving averages, with a reading above 88% potentially triggering a contrarian sell signal. Despite reaching record highs, the MSCI All-Country World Index faced a decline this week amid concerns over the outlook for monetary easing and Barclays Plc strategists noting that the rally appears to be losing steam. Inflows were seen across major asset classes, with global equity funds receiving $10.5 billion and bond funds attracting $12.5 billion in the week through May 22.
Source: YAHOO
Reported 5 months ago
On Friday, U.S. stocks rebounded with the S&P 500 gaining 0.7% and the Dow Jones Industrial Average rising slightly. The Nasdaq composite set a new record high. Strong earnings reports from companies like Deckers Outdoor and Ross Stores contributed to the market's positive performance, despite concerns about inflation and potential interest rate hikes. Reports indicating a stronger U.S. economy than expected also influenced trading. In global markets, indexes in Asia and Europe experienced declines.
Source: YAHOO
Reported 5 months ago
According to a recent data dump from Netflix, the children's show CoComelon by Moonbug Entertainment was the most-watched on the platform in the latter half of 2023, with episodes being viewed over 200 million times from July to December. The show, which started on YouTube, features songs, nursery rhymes, and daily activities involving children, adults, and animals. Moonbug EMEA boss Nicolas Eglau mentioned that the success of CoComelon has inspired the company's expansion into the older children's space. Other kids' shows like Gabby’s Dollhouse and Peppa Pig trailed behind in viewership numbers.
Source: YAHOO
Reported 5 months ago
Conservative attorney George Conway has placed an anti-Trump billboard near the former president's Mar-a-Lago home in Palm Beach, Florida with the message "Vote for Joe, Not the Psycho." Conway, a vocal critic of Trump, described the move as a lighthearted gesture and selected the location strategically along a route from Mar-a-Lago to Doral. The billboard is part of a campaign that Conway has expanded to include bumper stickers and hats with the same slogan, aiming to catch Trump's attention and bring some humor to the situation.
Source: YAHOO
Reported 5 months ago
BHP is facing challenges in acquiring Anglo American's copper assets as investors demand a simpler offer or a cash sweetener. Anglo has given BHP additional time to present a binding offer after rejecting previous proposals, citing undervaluation and execution difficulties. BHP's deal for Anglo's copper assets faces pushback from the board and investors seeking a larger payout, testing BHP's commitment to acquiring these valuable assets in Latin America. The article highlights the complexities and uncertainties surrounding the deal as the deadline approaches.
Source: YAHOO
Reported 5 months ago
During a recent episode of "Wheel of Fortune," contestant Tavaris Williams made a daring and humorous guess on a puzzle, saying "Right in the butt!" which went viral. Host Pat Sajak reassured Williams that they would find a tactful way to edit the moment, and the contestant later shared the story on "Jimmy Kimmel Live!" Despite the unexpected moment, Williams won $9,500 and spread smiles worldwide. This incident occurred during Sajak's final season as host of the show, with his retirement announced in June 2023 and Ryan Seacrest set to replace him.
Source: YAHOO
Reported 5 months ago
Nvidia's CEO Jensen Huang is the largest individual shareholder of the company, with a stake of 86,827,600 shares valued at $82.8 billion. The second-largest shareholder among company executives is CFO Colette Kress, followed by executive vice president Ajay Puri. Beyond the executive team, billionaire venture capitalist Mark Stevens holds the most shares, with 4,069,181 shares worth approximately $3.9 billion. However, institutional investors like Vanguard Group and BlackRock hold around two-thirds of Nvidia's shares, with a combined stake of 400 million shares. Notably, Nvidia's other co-founder Curtis Priem donated most of his shares in the early 2000s.
Source: YAHOO
Reported 5 months ago
OPEC+ has decided to shift its upcoming policy meeting online instead of in person, with delegates anticipating an extension of current oil supply cuts into the second half of the year. The meeting, originally scheduled for June 2, is expected to review around 2 million barrels per day of output reductions introduced to stabilize crude prices. The decision to move the meeting online may have been influenced by health concerns regarding Saudi King Salman Bin Abdulaziz and the recent death of Iranian President Ebrahim Raisi. This move indicates a likely continuation of existing quotas, with the alliance led by Saudi Arabia and Russia aiming to balance US production and economic uncertainties.
Source: YAHOO
Reported 5 months ago
The article discusses the decision of when to start taking Social Security benefits, outlining that the age at which you claim can significantly impact your monthly income in retirement. The factors to consider include the size of your retirement fund, your priorities in retirement, and your strategy with your spouse. Claiming earlier at age 62 results in reduced payments, while delaying until age 67 can lead to higher benefits. Ultimately, the decision depends on your financial situation and retirement goals.
Source: YAHOO
Reported 5 months ago
Italy's Economy Minister Giancarlo Giorgetti stated that an agreement on a global minimum tax for multinationals will not be finalized by June as planned, with the U.S., India, and China expressing reservations. The tax is primarily targeting U.S.-based digital giants, aiming to reallocate taxing rights on $200 billion of corporate profits. Giorgetti mentioned that the deal will not be ratified by all participating countries, risking the failure of the agreement. Italy seeks negotiations with the U.S. to prevent retaliatory tariffs, while other European countries are encouraged to join in the discussions.
Source: YAHOO
Reported 5 months ago
Private equity firm PAG is considering purchasing Dalian Wanda Group Co.'s shopping mall properties in a potential deal that could value the real estate assets at up to $13.8 billion. PAG might raise a fund and involve other investors for the transaction, while Wanda could use the proceeds to reduce debt. This move follows PAG's earlier acquisition of control of a Wanda unit, and discussions are still in early stages with details like asset value not finalized.
Source: YAHOO
Reported 5 months ago
Airbus is showcasing an electric truck fitted with basic A350 airliner controls at the VivaTech event in Europe to demonstrate automated taxiing for safer airports amid concerns of ground collisions. The truck, equipped with sensors and onboard computers, can be controlled manually or by the aircraft systems, navigating through warning lines and obstacles. Airbus hopes this research will help prevent costly and growing incidents of jet collisions on the ground. The project, part of the "Optimate" initiative, is a collaboration with Israeli electric vehicle maker Ree Automotive and may lead to changes in plane design if successful, although Airbus currently has no plans to introduce autonomy in jetliners.
Source: YAHOO
Reported 5 months ago
The article discusses the recent success of Nvidia stock, which has seen significant growth over the past few years, with shares increasing by 112% so far in the current year. Nvidia's success is attributed to its adaptation of high-end chips for data centers, cloud computing, and artificial intelligence, driving its recent rally. Despite the stock hitting an all-time high, there is still potential for growth due to Nvidia's strong financial performance, ongoing market opportunities in generative AI and data centers, and a favorable outlook with record revenue projections and a stock split announcement. Although the current valuation may seem steep at 89 times earnings, Nvidia's track record, industry dominance, and future potential suggest that it is still a worthwhile investment.
Source: YAHOO
Reported 5 months ago
U.S. stocks rebounded on Friday, with the S&P 500 gaining 0.7% and recovering from earlier losses to set a new record close. The Dow Jones Industrial Average also saw a slight increase, while the Nasdaq composite surged 1.1% to reach a new all-time high. Strong earnings reports from companies like Deckers Outdoor and Ross Stores contributed to the market's positive performance, despite concerns about inflation and interest rates. Additionally, a report showing improved consumer sentiment and lower inflation expectations helped alleviate some worries.
Source: YAHOO
Reported 5 months ago
Czech online grocer Rohlik Group is expanding its presence in Germany as competitors exit the market, with plans to break even within the next 12 months. The company operates under the Knupsr.de brand in Germany and is aiming to add 15 more cities in the country. With a focus on quick delivery and locally-sourced products, Rohlik is investing in automating its distribution centers to enhance efficiency. Despite facing competition from traditional supermarkets and other online delivery services, Rohlik's strategy of working with local suppliers and introducing lower-priced own-label products is resonating with customers.
Source: YAHOO
Reported 5 months ago
An Australian judge has ruled that the social media platform X is subject to Queensland's anti-discrimination law despite not having an office in Australia. This decision allows the Queensland Human Rights Commission to investigate a complaint against X for allegedly failing to remove anti-Muslim hate speech content. The Australian Muslim Advocacy Network views this ruling as significant in holding social media companies accountable for content that breaches hate speech laws in Australia. X has been accused of refusing to remove material that denigrates the Muslim community, with the case highlighting the platform's responsibility for locally accessible content that violates Australian laws.
Source: YAHOO
Reported 5 months ago
Despite being snubbed from the All-NBA team, Boston Celtics' Jaylen Brown delivered an explosive performance with a game-high 40 points in Game 2 of the Eastern Conference finals against the Pacers, leading his team to a 126-110 victory and a 2-0 series lead. Brown's stellar play showcased his scoring ability, improved passing, and defensive prowess, highlighting his value as a key player for the Celtics. Despite external criticism, Brown remains focused on contributing to his team's success and continues to elevate his game each season.
Source: YAHOO
Reported 5 months ago
Japanese stocks were the focal point at a recent hedge fund conference in Hong Kong, with most top Asia investment ideas revolving around Japan Inc's efforts to enhance capital efficiency and the record-breaking performance of Tokyo shares. At the Sohn Hong Kong Investment Leaders Conference, Japanese companies in outsourcing, robotics, and the drug sector were favored, while only two funds pitched ideas on Chinese stocks. Key opportunities were identified in Japanese firms with improving narratives or strengthened corporate governance, such as Transcosmos, a provider of outsourcing services. Additionally, the conference highlighted the potential of Kobayashi Pharmaceutical and Samsung Electronics in the market.
Source: YAHOO
Reported 5 months ago
Nelly Korda's exceptional dominance in women's golf in 2024, winning six out of her past seven events including a major, has been praised by fellow golfer Georgia Hall as beneficial for the women's game, promoting tournaments and the overall tour. Hall, the English number two, expresses admiration for Korda's achievements and looks forward to competing in upcoming major championships, particularly aiming for a second Women's Open title at St Andrews to surpass her previous major win at Royal Lytham & St Annes in 2018.
Source: YAHOO
Reported 5 months ago
Bitcoin experienced a 2.12% dip following news of spot Ethereum ETF approvals, surprising traders who anticipated new highs after a recent rally. Analysts suggest the pullback may be a temporary correction, with BTC approaching a retest of a demand zone between $64,000 and $67,000, potentially indicating a bullish structure. However, leveraged positions suffered significant liquidations, totaling $227.51 million in 24 hours, with $159.3 million from long positions, including $46.75 million in the last hour alone.
Source: YAHOO
Reported 5 months ago
The article discusses how a two-speed global economy, influenced by the strength of the US, is impacting the Group of Seven (G-7) meeting as officials address the potential for less synchronized monetary policies. The contrast between the US's strong growth and Europe's economic lethargy is highlighted, with discussions on the durability of America's growth momentum and Europe's upcoming interest rate cut. The G-7 is grappling with differing prospects for consumer prices as inflation fades unevenly, leading to varying monetary policy decisions among central bankers. The impact of this divergence on financial markets, particularly the strength of the dollar, is also a key concern during the meeting.
Source: YAHOO
Reported 5 months ago
Source Code Capital, an early backer of ByteDance, is planning to raise a $300 million venture capital fund, one of the largest in China, led by partner Samuel Huang. This move comes as interest in startups grows during the AI boom, with investors cautiously exploring opportunities in tech circles. The fundraising, alongside other recent funds, will be a key indicator of renewed bets on China's tech sector amid a decrease in venture funding and increased caution from US investors. Founded in 2014, Source Code manages around $5 billion and has invested in companies like Meituan and AI chipmaker Shanghai Biren Technology Co.
Source: YAHOO
Reported 5 months ago
The article discusses how an index of major crops has erased its 2024 loss due to bad weather affecting harvests from wheat to coffee, leading to concerns about rising food prices. Factors like droughts, frosts, and heavy rain in key growers are threatening tighter supplies and increasing the cost of agricultural staples. This has caused a Bloomberg gauge tracking nine farm commodities to turn higher on the year, with Chicago wheat futures trading near the highest since July, robusta coffee prices on the rise, and orange juice setting new records due to weather-related issues. Cocoa futures are also expected to remain high throughout the current season.
Source: YAHOO
Reported 5 months ago
In the Western Conference Final opener, the Edmonton Oilers beat the Dallas Stars 3-2 in double overtime, with Connor McDavid scoring the game-winning goal only 32 seconds into the second overtime after overcoming a penalty in the first overtime. McDavid felt miserable during his time in the penalty box but redeemed himself with the goal, while Leon Draisaitl and Zach Hyman also scored for the Oilers. Despite a strong effort from the Stars, who tied the game late in the third period, Edmonton's penalty kill and McDavid's performance secured the victory.
Source: YAHOO