Day: September 24, 2024
Asia-Pacific markets set for mixed open; Hong Kong’s Hang Seng poised to rise 4%
A General view showing the Hong Kong Skyline in Hong Kong, Saturday, May 22, 2021. (Photo by Vernon Yuen/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Asia-Pacific markets were set to open mixed on Wednesday, with futures for Hong Kong’s Hang Seng Index suggesting a 4% rise for the index at open. HSI […]
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Goldman names its top global battery stocks — giving 2 over 50% upside
Battery prices have been sliding, but Goldman Sachs continues to see promise in the sector, naming four market-leading stocks it’s overweight on. The investment bank’s analysts said global average battery prices could fall to around $80/kilowatt hour by 2026 compared to $110/kilowatt hour this year, in a Sept. 4 equity research note. At this level, […]
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‘Don’t fight the Fed’: Barclays and Citi turn bullish on these stocks after rate cut
The Federal Reserve surprised markets earlier this month when it cut interest rates by 50 basis points , signaling a shift toward preserving economic growth. The move prompted Wall Street giants Barclays and Citi to adopt a more optimistic stance on global cyclical stocks. Cyclical stocks are generally sensitive to interest rates and economic growth, […]
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Stock futures are little changed after Dow, S&P 500 hit record highs: Live updates
Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2024 in New York City. Michael M. Santiago | Getty Images Stock futures were calm on Tuesday evening as Wall Street looks to extend its September gains. S&P 500 futures were little changed. Nasdaq 100 futures ticked up […]
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Biden administration backs House Republicans’ three-month government funding bill
US President Joe Biden (R) shakes hands with Speaker of the House Mike Johnson as they attend the National Prayer Breakfast Foundation’s annual event at the US Capitol in Washington, DC, on February 1, 2024. Brendan Smialowski | Afp | Getty Images The Biden administration on Tuesday announced its support for the latest short-term government […]
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Meet the Latin American e-commerce platform that’s outperforming Amazon this year
One of the world’s largest e-commerce companies is emerging as a top pick on Wall Street as investors look for tech opportunities beyond the Magnificent Seven. MercadoLibre, an Argentinian e-commerce and payments platform that’s incorporated in Delaware and actively traded on Nasdaq, is up 34% in 2024, compared to a roughly 27% rise for Amazon, […]
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FTX fraudster Caroline Ellison sentenced to 2 years in prison, ordered to forfeit $11 billion
Caroline Ellison, the star witness in the prosecution of her former boyfriend, FTX founder Sam Bankman-Fried, was sentenced Tuesday in New York federal court to two years in prison and ordered to forfeit $11 billion for her role in the massive fraud and conspiracy that doomed the cryptocurrency exchange once valued at $32 billion. The prison […]
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Trump floats expanded R&D business tax credits, says he would appoint ‘manufacturing ambassador’
Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally at Johnny Mercer Theatre in Savannah, Georgia, on Sept. 24, 2024. Chandan Khanna | AFP | Getty Images Former President Donald Trump unveiled several new manufacturing proposals at a rally in Savannah, Georgia, on Tuesday, part of an effort to sharpen […]
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Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia’s biggest economy to spur growth. Dimas Ardian | Bloomberg | Getty Images Tech giant Microsoft will invest […]
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Justice Department accuses Visa of debit network monopoly that impacts price of ‘nearly everything’
Justin Sullivan | etty Images The U.S. Justice Department on Tuesday sued Visa, the world’s biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and smothering upstart firms. Visa’s moves over the years have resulted in American consumers and merchants paying billions of dollars in […]
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