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Wall Street drops but off session lows after Fed rate hike, trading choppy

Wall Street drops but off session lows after Fed rate hike, trading choppy

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Fed raises interest rates, sees ‘continued increases’ Indices down: Dow 0.96%, Standard & Poor’s 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – U.S. stock indexes fell in choppy trade on Wednesday, bouncing back from session lows when the Federal Reserve raised interest rates by a quarter of a percentage point and said it expected “continued increases” …

Wall Street drops but off session lows after Fed rate hike, trading choppy Read More »

AMD's revenue beat targets, and Wall Street was relieved after Intel's bleak outlook

AMD’s revenue beat targets, and Wall Street was relieved after Intel’s bleak outlook

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Jan 31 (Reuters) – US chip maker Advanced Micro Devices (AMD.O) On Tuesday, it reported revenue that beat Wall Street targets and said it expects business to pick up in the second half, spurring investors who saw the company profit from rival Intel. Shares rose about 1.5% in after-hours trading. Although AMD’s expectations were lower …

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The Norwegian Wealth Fund records record losses of $164 billion

The Norwegian Wealth Fund records record losses of $164 billion

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The loss in 2022 surpassed the previous record from 2008 Inflation and geopolitical tensions remain risk factors Record flow of funds from the oil and gas industry OSLO (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, ending a three-year streak …

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The United States stops granting export licenses to the Chinese company Huawei - sources

The United States stops granting export licenses to the Chinese company Huawei – sources

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Jan. 30 (Reuters) – The Biden administration has stopped approving licenses for U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced US export restrictions on 5G items and other technologies for several years, but officials in the US Commerce Department have granted licenses to …

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FTX founder Bankman Fried objects to tighter bail, prosecutors say 'put him in a sandbag'

FTX founder Bankman Fried objects to tighter bail, prosecutors say ‘put him in a sandbag’

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NEW YORK (Reuters) – Attorneys for Sam Bankman-Fried urged a U.S. judge on Saturday not to block the accused FTX cryptocurrency executive from communicating with former colleagues as part of his bail release, saying prosecutors had “sandbagged” their placement process. The client is in the “worst possible light”. The lawyers were responding on Friday evening …

FTX founder Bankman Fried objects to tighter bail, prosecutors say ‘put him in a sandbag’ Read More »

Wall Street closed higher, posting a weekly gain as the Fed meeting approaches

Wall Street closed higher, posting a weekly gain as the Fed meeting approaches

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Personal consumption expenditures: Inflation subsides along with consumer spending American Express, Visa rise on strong demand Chevron falls after missing earnings estimates Indices rose: Dow 0.08%, Standard & Poor’s 0.25%, Nasdaq 0.95% NEW YORK (Reuters) – Wall Street rallied on Friday, ending a difficult week as economic data and corporate earnings guidance pointed to softening …

Wall Street closed higher, posting a weekly gain as the Fed meeting approaches Read More »

Musk sums up Tesla's recession playbook: Cost Recovery

Musk sums up Tesla’s recession playbook: Cost Recovery

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Jan. 26 (Reuters) – Elon Musk has a Tesla playbook (TSLA.O) He headed into what he believes will be a “serious” recession: cutting costs on everything from parts to logistics, while keeping pressure on competitors with cut-off sticker prices. On a conference call to discuss Tesla Fourth quarter resultsMusk and other executives have outlined plans …

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Musk says Tesla's price cuts have increased demand, and 2023 sales could reach 2 million vehicles

Musk says Tesla’s price cuts have increased demand, and 2023 sales could reach 2 million vehicles

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Jan. 25 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said on Wednesday that aggressive price cuts have ignited demand for its electric cars, alleviating concerns that the weak economy could stifle buyer interest. The company slightly beat Wall Street targets for fourth-quarter revenue and earnings earlier on Wednesday despite a sharp drop in …

Musk says Tesla’s price cuts have increased demand, and 2023 sales could reach 2 million vehicles Read More »

The S&P 500 closed slightly in the red as weak corporate guidance fueled recession fears

The S&P 500 closed slightly in the red as weak corporate guidance fueled recession fears

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AT&T adds bonuses to subscribers General Dynamics Slips After Poor Expectations Tesla, IBM published results Indices: Dow Jones up 0.03%, Standard & Poor’s 500 down 0.02%, Nasdaq down 0.18%. NEW YORK (Reuters) – The Standard & Poor’s 500 Index closed nominally lower on Wednesday as a string of corporate earnings turned from dovish to dismal, …

The S&P 500 closed slightly in the red as weak corporate guidance fueled recession fears Read More »

Microsoft is investing more in OpenAI as the technology race heats up

Microsoft is investing more in OpenAI as the technology race heats up

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January 23 (Reuters) – Microsoft Corporation (MSFT.O) On Monday it announced an additional multibillion-dollar investment in OpenAI, deepening ties with the startup behind the chatbot sensation ChatGPT and paving the way for more competition with rival Alphabet Inc. (GOOGL.O) The Google. Recently touting an artificial intelligence (AI) revolution, Microsoft is building on a bet it …

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Wall Street is rising, supported by the technological recovery

Wall Street is rising, supported by the technological recovery

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Baker Hughes falls due to lack of fourth-quarter earnings estimates Activist investor Elliott Management is involved with Salesforce Potato chips on track for biggest daily gain since November Indices rose: Dow 0.98%, Standard & Poor’s 1.41%, Nasdaq 2.09%, NEW YORK (Reuters) – Wall Street jumped on Monday, propelled higher by technology stocks as investors kicked …

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