European markets are expected to have a mixed open as investors await the European Central Bank's rate decision, while US inflation data leads to slightly lower stock market closures.
CVS Health has launched a new business unit called Cordavis to bring private label biosimilar drugs to the market, aiming to reduce drug costs and have a share in the projected $100 billion market by 2029. Cordavis will co-manufacture and commercialize biosimilars, starting with Sandoz's Hymiroz at 80% less than AbbVie's Humira, and CVS plans to select products with adequate supply to avoid shortages in the specialty drug market.
Credit Suisse will reduce its new markets business volume as UBS integrates the bank, while UBS will focus on consolidating new client activity through its own entities.
Asian stocks rise as US CPI data solidifies Federal Reserve pause bets, leading to a positive market sentiment and a weaker US Dollar.
The European Central Bank is expected to raise interest rates, but traders believe that any immediate risk to the euro is likely to be on the downside, and if there is a hike, it will likely be the last.
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Stocks are set to open slightly higher following a strong rally, as investors anticipate the release of the Labor Department's non-farm employment report and Apple's product event.
The average 30-year fixed mortgage rate has jumped to 7.19%, the second-highest rate since November, signaling a decline in U.S. housing affordability; experts predict varying future rates, with some expecting a decline and others projecting rates to remain relatively high.
Bitcoin (BTC) reached new September highs as markets reacted positively to macroeconomic and crypto industry news, with the cryptocurrency trading at around $26,300, up 5.5% from its September lows; traders have expressed optimism about Bitcoin's recent performance and potential future breakout if a Bitcoin spot price ETF is approved by U.S. regulators in the coming months, while some remain cautious and predict a potential relief rally before a further decline in on-chain volume.
Homebuyers looking to secure a lower mortgage interest rate in today's market can do so by improving their credit score, buying mortgage points, or locking in a rate.
Shares of Better.com plummeted after the company completed its SPAC merger and began trading as a public company, losing over 90% of its value due to a downturn in the housing market and a series of missteps.
VinFast Auto, an unprofitable maker of electric cars, experienced an abrupt 44% drop in its shares, erasing $83 billion of its market value, after a six-day winning streak during which it rose faster than any other large-cap stock; however, despite the sharp decline, VinFast still maintains a market capitalization of nearly $107 billion and faces similar risks to the volatile stock rise and subsequent crash experienced by AMTD Digital.
Emerging markets, particularly China, are facing challenges such as weak economic activity, real estate debt issues, regulatory environment, and market concentration, while the U.S. market is performing well; however, emerging markets outside of China, like India, are showing promise due to supply chain diversification, infrastructure investment opportunities, and a pro-business government. Other attractive markets include Taiwan, South Korea, Vietnam, the Philippines, and Indonesia.
The Dow Jones Industrial Average rose after the release of key inflation data and initial unemployment claims, while Cathie Wood's Ark Invest sold a significant number of Tesla shares.
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This article describes a 5-minute bar chart for Comex gold futures that can be used as an analytical and trading tool for intra-day gold futures traders, providing key moving averages and potential entry points.
SoftBank's chip designer Arm Holdings priced its IPO at the top end of the range, with major tech titans like Taiwan Semiconductor Manufacturing, Intel, Nvidia, and Apple planning to buy $735M of the float, making it a major test of the U.S. IPO market.
Stocks fell on Thursday as strong earnings from Nvidia were overshadowed by comments from the Federal Reserve signaling that interest rates will remain elevated for a long time to combat inflation.
September historically has been the worst performing month for the U.S. stock market, and with the recent decline in August, investors should prepare for further volatility and potentially disappointing results in September.
Wall Street stocks opened higher as investors assessed strong retail sales and wholesale price inflation data to gauge the Federal Reserve's approach to interest rates, with the S&P 500 gaining 0.5% and the Dow Jones Industrial Average ticking up 0.4%.
U.S. wholesale prices rose 0.7% in August, the largest increase in 14 months, indicating that inflation is likely to persist, driven by higher energy costs.
Job growth in the private sector slowed in August, with only 177,000 jobs added, indicating a cooling labor market and a return to pre-pandemic levels of job creation, according to the ADP National Employment report.
Wall Street's optimism has modestly improved, but investors remain cautious due to concerns over inflation, a strong labor market, potential government shutdown, and elevated yields. Meanwhile, German shoemaker Birkenstock has filed for an initial public offering in New York, aiming for a valuation of over $8 billion.
Defiance ETFs is launching the first-ever fund that sells ultra short-dated options on the Nasdaq 100, aiming to tap into the booming demand for stock investments with an income stream and potentially double the cash flow of rival products.
High mortgage rates, reaching their highest level in 21 years, are driving up costs for home buyers and creating a sluggish housing market, with little relief expected in the near term.
Apple's iPhone sales in China have surpassed those in the United States for the first time, contributing to Apple potentially becoming the biggest player in the smartphone market this year, despite global smartphone shipments being on track to be the worst in a decade due to economic headwinds in China and the US, according to Counterpoint Research.
The used car market is experiencing disruptions and a shortage of supply, leading to higher prices and a decrease in availability, with long-term issues expected to persist for at least the next two years.
The number of Americans filing new claims for unemployment benefits fell for a second consecutive week, indicating a strong labor market despite the Federal Reserve's interest rate hikes.
Machine learning plays a critical role in the stock market, particularly in algorithmic trading, but it is vulnerable to adversarial attacks that can lead to significant financial losses, highlighting the need for proactive measures to safeguard against such threats.
Wall Street stocks rose on Thursday as investors analyzed strong retail sales and wholesale price inflation data to gauge the Federal Reserve's stance on interest rates.
Data and AI company Databricks has raised $500 million in funding, valuing the company at $43 billion, as it continues to focus on AI tooling and expand its artificial intelligence capabilities. The funding round included strategic investors such as Nvidia.
The former president of the Boston Fed suggests that the Federal Reserve can stop raising interest rates if the labor market and economic growth continue to slow at the current pace.
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The Federal Reserve Bank of New York's recession probability tool, which examines the difference in yield between the 10-year U.S. Treasury bond and three-month bill, suggests a 60.83% probability of a U.S. recession through August 2024, indicating that stocks may move lower in the coming months and quarters. However, historical data shows that U.S. recessions are typically short-lived, and long-term investors have little to worry about.
Chipmaker Arm debuted on the public markets with a successful IPO, seeing its shares climb over 20% and its market cap exceed $60 billion, marking a significant moment for the tech sector.
The Department of Justice has filed a lawsuit against SpaceX, accusing the company of discriminating against asylum seekers and refugees in its hiring practices.
British semiconductor designer Arm Holdings is planning a multibillion-dollar initial public offering (IPO) on the Nasdaq Stock Exchange in the US, aiming to raise between $8 billion and $10 billion with a valuation of $60 billion to $70 billion, positioning itself as one of the biggest IPOs of 2023.
Asia-Pacific markets rise as investors anticipate China's August factory activity data, with the country's manufacturing sector expected to contract for the fifth consecutive month, while US stocks gain due to positive economic data and revised GDP growth figures.
Dow Jones futures rose slightly along with S&P 500 futures and Nasdaq futures, while Adobe and Lennar headlined earnings; UAW auto strike now underway.
Tesla was the most shorted large-cap stock in the US for the third consecutive month in August, but saw a 10% rally after a bullish research note from Morgan Stanley.
Nvidia shares reach an all-time high due to high expectations for its quarterly results, driven by its dominance in the booming artificial intelligence market.
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Dow Jones futures and S&P 500 futures rose slightly as the market rally saw a solid advance with major indexes reclaiming their 50-day moving averages, although caution is still advised for new investments.
Strikes by United Auto Workers union at three major car manufacturing companies could potentially slow down the U.S. economy but are unlikely to trigger a recession, as global markets face industrial actions amid inflation and cost of living crisis.
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Google Cloud's Engineering Director of Web3, James Tromans, aims to bridge the gap between AI and Web3 with a focus on digital ownership and data privacy, stating that Web3 technology can provide data provenance, security, and traceability, and Google Cloud has taken steps into Web3 by becoming a transaction validator on several blockchains.
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Stocks on Wall Street rose as the head of the Federal Reserve indicated a cautious approach to interest rates, resulting in the first winning week for the market since July.
