The upcoming earnings season could decide what’s next for stocks. The S & P 500 and Dow Jones Industrial Average are at all-time highs after a strong jobs report last week and some cooler inflation data this week raised investor confidence in equities. Tech stocks outperformed this week, with the sector up more than 2%,…
(Bloomberg) — With markets keen for details on China’s efforts to revive economic growth and end its housing slump, here are five key takeaways from today’s briefing by Chinese Minister of Finance Lan Fo’an and his colleagues. Bloomberg Terminal readers can click here for a full transcript. China will borrow more to raise money and…
After Wall Street balked at Tesla‘s highly-anticipated robotaxi unveiling, CNBC’s Jim Cramer told investors not to make any moves on the stock. While he said he wouldn’t recommend buying Tesla after Thursday night’s event flopped, Cramer discouraged shorting the stock, saying it’s “dangerous to bet against” CEO Elon Musk. “Even though Tesla’s robotaxi event was…
The S&P 500 and the Dow scored record closing highs today, with big boosts from financial stocks after banks reported strong quarterly results while the latest inflation data fueled expectations for a U.S. Federal Reserve rate cut in November. Major financial companies kicked off earnings season with JPMorgan Chase finishing the session up 4.4% after…
Uber and Lyft have been locking New York City drivers out of their apps to avoid paying millions of dollars in pay, according to a report. Rideshare app drivers have been getting locked out of the two apps – with messages that flash “unable to go online” or tell drivers to go to a busier…
Michael Shvartsman walks following a hearing at the Manhattan Federal Court, in New York City, U.S. July 20, 2023. Amr Alfiky | Reuters Prosecutors are asking a New York federal court judge to sentence two brothers to years in prison for their admitted insider trading in a blank-check company’s securities before it announced a planned…
HONG KONG — Asian stocks were mixed on Friday as Chinese markets declined as investors await a key briefing about the details of the upcoming stimulus plan this weekend. U.S. futures rose while oil prices were lower. Chinese stocks fell in morning trading on Friday. The Shanghai Composite lost 1.6% to 3,249.14, and the CSI…
Phil Spencer, CEO of Microsoft Gaming, speaks at the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Franziska Krug | German Select | Getty Images Microsoft will allow people to buy and play video games through its Xbox app for Android starting in November, the company said on Thursday. The move is an immediate…
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JAKARTA, Indonesia — Indonesia’s immigration officers on the tourist island of Bali have arrested a Chinese suspect sought by Beijing for helping run over $14 billion investment scam to clients in China, officials said Thursday. The 39-year-old man, identified only by his initial, LQ, was arrested on Oct. 1, when an immigration auto-gate in Bali’s…