Reported about 1 year ago
Xpeng's shares surged over 10% as a result of increased revenue from research and development services provided to Volkswagen, leading to a doubling of service income in the first quarter. The company's gross margin also saw significant growth due to these services, and Xpeng expressed optimism about advancing its self-driving technology to level four by next year. Additionally, Xpeng expects second-quarter deliveries to increase and plans to launch a mass-market EV with level-two autonomous driving capabilities priced under 200,000 yuan.
Source: YAHOO
Reported about 1 year ago
American Idol alum Haven Madison recently graduated high school and released her debut EP, "Turn Off All the Lights," showcasing a mix of emotional songs. With a move to Nashville and a successful start in the music industry, Madison is gaining attention for her unique musical style and ability to hit impressive notes effortlessly. She has a close bond with her brother, whom she collaborated with on a song about his battle with depression, and the two share a special connection through music.
Source: YAHOO
Reported about 1 year ago
Japan's 10-year sovereign bond yield has reached 1% for the first time since the Bank of Japan implemented stimulus measures in 2013, sparking discussions on potential monetary policy adjustments. Analysts predict further increases in yields for 20- and 30-year bonds due to persisting inflation levels above the central bank's target, with projections of the 10-year yield potentially rising to 1.2% in the coming weeks. Speculation suggests the Bank of Japan may raise rates to prevent yen depreciation, while the upcoming policy meeting in June will likely address inflation outlook.
Source: YAHOO
Reported about 1 year ago
Stronger-than-expected UK inflation data has led traders to reduce bets on interest rate cuts, diminishing Prime Minister Rishi Sunak's hopes for a June rate cut. The Consumer Prices Index rose 2.3% in April, higher than the forecasted 2.1%, putting the Bank of England's 2% inflation target within reach. As a result, the chance of a June rate cut has decreased, with traders now looking towards November for a potential move by the central bank. The data has sparked political narratives as both the Conservatives and Labour Party aim to address economic concerns ahead of an expected election.
Source: YAHOO
Reported about 1 year ago
US equity futures are steady as investors await Nvidia Corp.'s pivotal earnings, with the Nasdaq 100 flat and the S&P 500 slightly lower. Nvidia's results, anticipated to show a 243% increase in revenue, could influence further market gains after the stock hit record highs. Concerns about high inflation impacting central bank policies are also prevalent, highlighted by UK data showing slower-than-expected inflation and the Reserve Bank of New Zealand keeping rates unchanged. European markets are monitoring a potential takeover bid by BHP Group Ltd. for Anglo American Plc, while US stock movers include Target Corp., Lululemon Athletica Inc., and Tesla Inc. amid various announcements.
Source: YAHOO
Reported about 1 year ago
Barclays Plc and other Wall Street firms are considering requiring some employees to commute to company offices five days a week, following regulatory adjustments for supervising remote work by the Financial Industry Regulatory Authority. While some managers have started warning staff to prepare for daily commutes due to advanced discussions, not all firms may choose to enforce this stricter in-person mandate. The new rules from Finra will require brokerages to list home offices in regulatory records and set up regimes for periodic workplace inspections, potentially impacting work-from-home protocols. Executives at Deutsche Bank AG believe they can comply with these requirements without significant impact on their remote work policies. Truist Financial Corp. has already announced a five-day office policy for some Wall Street staff, reflecting a trend among financial firms tightening remote work rules despite the majority still allowing partial remote work.
Source: YAHOO
Reported about 1 year ago
The article discusses the bearish outlook on Tesla (NASDAQ:TSLA) stock due to declining vehicle sales, falling margins, and high valuation, with a focus on Elon Musk's announcement regarding the unveiling of a Robotaxi on August 8. Despite challenges faced by Tesla in Q1, including negative cash flow and underperformance, the potential of AI technology, particularly in the autonomous vehicle segment, could impact the stock's performance. Analysts view Tesla as a Hold with a target price of $174.60, suggesting a 6.4% downside potential. The article concludes that while Robotaxi and autonomous vehicles offer significant potential, the current valuation of Tesla at 70x forward earnings makes it a risky investment.
Source: YAHOO
Reported about 1 year ago
Saudi fintech company Rasan Information Technology Co. conducted an IPO priced at 37 riyals a share, raising 841 million riyals, with orders reaching a staggering 108.6 billion riyals ($29 billion). The IPO was 129.1 times oversubscribed, reflecting strong investor demand for share sales in Saudi Arabia. This IPO is part of a trend of diverse companies listing on the Riyadh bourse, with recent offerings drawing significant investor interest, such as Saudi Manpower Solutions Co. and a hospital group. Rasan, operating online insurance platforms, is one of the first fintech firms to go public in the kingdom, with other tech companies like Tabby and Nice One also eyeing IPOs. Retail offerings for Rasan will open on May 29.
Source: YAHOO
Reported about 1 year ago
G7 finance ministers met in Italy to discuss pulling forward earnings from frozen Russian assets to support Ukraine's war effort and address China's export strength. The ministers are considering ways to utilize around $300 billion in Russian financial assets, with the U.S. proposing a loan that could provide $50 billion near-term. However, legal and technical aspects need clarification, and a detailed agreement is not expected immediately. Other topics on the agenda include global trade, taxation, and a proposal for a global wealth tax on billionaires, with the U.S. resisting the latter.
Source: YAHOO
Reported about 1 year ago
China's major banks are encouraging branch managers to provide loans to state-owned companies purchasing unsold homes, showing support for the government's housing rescue plan. Industrial & Commercial Bank of China Ltd. and other state lenders are advising managers to lend against the bought properties as collateral, highlighting the urgency to tackle the nation's property crisis. The People’s Bank of China announced a program to release 300 billion yuan ($41.5 billion) in funding to aid state-owned firms in buying unsold homes, aiming to address the real estate sector's challenges.
Source: YAHOO
Reported about 1 year ago
The article discusses the decline of the African National Congress (ANC) in South Africa, once revered for its role in ending apartheid and promoting democracy. Over the years, the ANC has faced growing dissatisfaction due to unfulfilled promises, widespread corruption scandals involving officials enriching themselves, and internal infighting since Nelson Mandela's presidency. The upcoming national election on May 29 is anticipated to reflect a significant rejection of the ANC, potentially leading to a loss of its parliamentary majority for the first time and necessitating a coalition government.
Source: YAHOO
Reported about 1 year ago
The Reserve Bank of New Zealand kept interest rates unchanged at 5.5% but signaled that policy will need to remain tight for longer to combat stubborn inflation, with cash rate cuts now expected to start later in the third quarter of 2025 instead of the second quarter. The central bank is finding it challenging to bring inflation back to target levels despite the country being in a recession, leading to expectations of rate cuts later this year or in the first or second quarter of next year by some economists. Governor Adrian Orr indicated that a rate hike was a real consideration at the recent meeting, emphasizing the Committee's limited tolerance for inflation surprises. The New Zealand dollar surged almost 1% after the decision before settling at a 0.4% gain on the day at 61.19 US cents.
Source: YAHOO
Reported about 1 year ago
The Boston Celtics won a dramatic Game 1 against the Indiana Pacers in the Eastern Conference finals, with Jaylen Brown hitting a game-tying 3-pointer and Jayson Tatum sealing the victory in overtime. Despite some mistakes and meltdowns, the Celtics managed to come out on top, led by Jrue Holiday's standout performance. The game was filled with chaos and uncertainty, but ultimately Boston passed their first real test of the playoffs.
Source: YAHOO
Reported about 1 year ago
Indiana Pacers coach Rick Carlisle took full responsibility for the team's Game 1 loss against the Boston Celtics in the Eastern Conference finals, admitting his errors in crucial moments. Despite playing well, the Pacers made costly mistakes such as turnovers and a missed timeout that led to Boston's victory. Carlisle acknowledged the need to clean up these areas and emphasized the team's resilience moving forward in the series.
Source: YAHOO
Reported about 1 year ago
Nvidia's upcoming earnings report is set to test the U.S. stock market's record run, with its shares up 90% this year and now ranking as the third-largest U.S. company by market value. Nvidia's performance is seen as a barometer for the AI industry, impacting broader markets due to its chips being the gold standard in AI. The company's strong results could influence the stock prices of AI-related companies, with options markets implying an 8.6% share price move in either direction. Investors are looking for Nvidia to meet high expectations in its earnings report, which could have a significant impact on market sentiment and valuations.
Source: YAHOO
Reported about 1 year ago
World Tarot Day 2024 is on May 25th, celebrating the Tarot as a tool for spiritual guidance and personal growth. Founded in 2003 by Deb Elder, the day is marked by classes, parties, and gatherings centered around the 78-card deck. Each zodiac sign receives a special reading for the occasion, with messages ranging from emotional realignment for Aries to financial opportunities for Leo and decision-making for Virgo.
Source: YAHOO
Reported about 1 year ago
During a game between the New York Yankees and the Seattle Mariners, Yankees' pitcher Clarke Schmidt believed he tipped his pitch to Mariners' Dylan Moore, who hit a two-run homer to secure a 6-3 victory for Seattle. Schmidt acknowledged the possibility of tipping pitches as part of the game and mentioned making adjustments after reviewing video footage. Despite the loss, Schmidt maintained a positive attitude and expressed a determination to continue improving and adapting throughout the season.
Source: YAHOO
Reported about 1 year ago
Bitcoin derivatives are indicating a surge above $73,000, with the cryptocurrency approaching its all-time high of $71,926 on May 21 after a 13.80% increase in the past week. This rise is attributed to optimism regarding the potential approval of a U.S. spot Ethereum exchange-traded fund and a general market trend seeking protection against inflation. The approval odds for an Ethereum ETF were raised to 75% after the U.S. Senate overruled the SEC's Bulletin 121, prompting a regulatory shift. Bitcoin derivatives show a moderately bullish sentiment, with a 14% futures premium and a -8% options market skew, indicating a healthy market sentiment despite the price surge.
Source: YAHOO
Reported about 1 year ago
In a loss to the Mariners, Yankees manager Aaron Boone admitted to making a mistake by bringing in Clayton Andrews, a lefty with limited major league experience, to pitch in the eighth inning. Andrews gave up a home run on his first pitch, leading Boone to acknowledge that he should have brought in Caleb Ferguson instead. Despite the bullpen struggles, Boone also attributed the loss to a late offensive start and the team's first back-to-back losses since late April. Andrews was subsequently sent back to Triple-A to make room for the expected return of Tommy Kahnle.
Source: YAHOO
Reported about 1 year ago
Source: WSJ
Reported about 1 year ago
The San Francisco Giants squandered numerous chances before suffering a brutal collapse against the Pittsburgh Pirates, losing 7-6 in 10 innings despite holding a four-run lead entering the ninth inning. Despite positive performances like Matt Chapman and Thairo Estrada's homers, Marco Luciano's multi-hit game, and Logan Webb's strong pitching, the Giants struggled to capitalize on opportunities throughout the game, going 1-for-12 with runners in scoring position. The collapse overshadowed their chances to put the game away earlier, ultimately leading to a disappointing loss at the start of a road trip.
Source: YAHOO
Reported about 1 year ago
Source: BARRONS