A new “sentry drone” system is expected to help Hong Kong’s low-altitude economy fly high, providing early alerts about navigation signal interference to ensure flight safety and reduce accidents, the transport minister has said. Secretary for Transport and Logistics Mable Chan offered the upbeat assessment in a post on her weekly blog on Saturday, saying…
(Bloomberg) — A record share of fund managers see US stocks as too expensive after the sharp rally since April lows, according to a monthly survey by Bank of America Corp. Most Read from Bloomberg About 91% of participants indicated that American stocks are overvalued, the highest ever proportion in data going back to 2001….
(Bloomberg) — Artificial intelligence’s imprint on US financial markets is unmistakable. Nvidia Corp. is the most valuable company in the world at nearly $4.5 trillion. Startups from OpenAI to Anthropic have raised tens of billions of dollars. Most Read from Bloomberg But there’s a downside to the new technology that investors are increasingly taking note…
President Trump on Tuesday claimed that major banks are discriminating against conservatives — including him — through the act of debanking, or when financial institutions refuse to work with some individuals or businesses or abruptly close clients’ accounts. Mr. Trump made the comment in an interview with CNBC on Tuesday, after he was asked about a…
(Reuters) -Bank of America said on Wednesday its board has authorized a $40 billion stock repurchase program. The new buyback program, which will take effect on August 1, will replace the current authorization, which had about $9.1 billion in repurchases remaining as of June 30, the bank said. The biggest U.S. lenders have enough capital…
Shares of online advertising giant Alphabet (NASDAQ:GOOGL) jumped 2.6% in the morning session after several Wall Street analysts boosted their price targets on the company, citing optimism around artificial intelligence and a favorable economic outlook. Morgan Stanley increased its price target on the shares to $205 from $185, pointing to potential revenue acceleration driven by…
By Nupur Anand NEW YORK (Reuters) -Bank of America has been working on stablecoins like the rest of the industry and investors can expect the lender to move forward on this, CEO Brian Moynihan said on Wednesday, without giving a timeline. “We feel both the industry and ourselves will have responses. We’ve done a lot…
US stocks pared gains Wednesday as Wall Street weighed a surprise inflation print and scoured the latest batch of earnings for signs that corporate America is weathering the tariff turmoil. The Dow Jones Industrial Average (^DJI) rose about 0.1%, having opened higher. The blue-chip index lost over 400 points on Tuesday. Meanwhile, the S&P 500…
US stocks pared gains Wednesday as Wall Street weighed a surprise inflation print and scoured the latest batch of earnings for signs that corporate America is weathering the tariff turmoil. The Dow Jones Industrial Average (^DJI) rose about 0.1% after opening higher. The blue-chip index lost over 400 points on Tuesday. Meanwhile, the S&P 500…
Fresh trade threats aren’t stopping Wall Street strategists from raising their bets on stocks. Goldman Sachs (GS) raised its year-end S&P 500 (^GSPC) target to 6,600 late Monday, up from a prior estimate of 6,100, citing deeper Fed rate cuts, lower bond yields, and investors’ willingness to look past near-term earnings weakness. Bank of America…