Spending cuts and mass layoffs have made growth the biggest question mark for US stocks
Torsten Sløk, chief economist at Apollo, estimates 1 million jobs could be eliminated by the DOGE job layoffs.
Torsten Sløk, chief economist at Apollo, estimates 1 million jobs could be eliminated by the DOGE job layoffs.
(Bloomberg) -- China’s strategy of defending its currency by choking local liquidity is sending ripples throughout the financial system, squeezing banks and fueling losses at bond funds.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Discover Ghent, the City Is Trying to
Global shares traded cautiously higher on Tuesday in light of growing evidence of a softening in the U.S. economy ahead of earnings from Nvidia, while the euro eased below the one-month highs that followed Germany's weekend election. Investors were rattled early on by an order from U.S. President Donald Trump to limit Chinese investments in strategic areas such as chips, AI and aerospace. Having pushed stocks on both sides of the Atlantic to record highs this month, investors are getting uneasy and Wednesday's results from Nvidia, which has come to characterise the boom in artificial intelligence investment, could prove instrumental in setting the mood for the remainder of the quarter.
Sales of Nvidia's artificial intelligence chip Blackwell will be top of mind when the company releases its latest financial results Wednesday, with analysts eyeing future demand amid a Chinese upstart's claim that it can train competitive AI models using far fewer resources. Wall Street expects Nvidia to report fourth-quarter adjusted earnings of 85 cents per share on revenue of $38.08 billion, according to FactSet. The company’s net income is expected to reach $19.58 billion.
Warren Buffett's Berkshire Hathaway nearly doubled its cash pile to $334 billion, sold a net $134 billion of stocks, and paid $26.8 billion to the IRS.
The slowdown in US sales came as consumer sentiment weakened. Shares of the pizza chain tumbled after it reported Q4 earnings.
(Bloomberg) -- A Bank of Canada official said a recent change in how the central bank sets its deposit rate is working to improve the functioning of money markets, lowering borrowing costs.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Discover Ghent, the City Is Trying
Australia's corporate regulator said on Tuesday the country's stock market operator would be required to publish a comparison of clearing and settlement fees against foreign providers and justify any fee increases, in a bid to promote competition. The Australian Securities and Investments Commission (ASIC) said ASX, responsible for some A$5 billion ($3.2 billion) of trades a day, must ensure its clearing and settlement services were offered in a transparent and non-discriminatory way. "This is about limiting ASX's ability to misuse its monopoly power to deter new entrants," ASIC Chair Joe Longo said in a statement.
Tesla shares fell again Monday, extending a recent slump that has made the stock the weakest performer in the Magnificent 7 so far in 2025.
Infrastructure construction company Primoris (NYSE:PRIM) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 14.9% year on year to $1.74 billion. Its non-GAAP profit of $1.13 per share was 51.2% above analysts’ consensus estimates.