Tech sector amounts to 36% weight in S&P 500, more than in dot-com era Tech remains best performing sector YTD AI-related declines could prompt broader weakness NEW YORK, Nov 6 (Reuters) – This week’s wobble in shares connected to artificial intelligence is a stark reminder that the U.S. stock market is ever more reliant on…
BEIJING/SHANGHAI, Oct 30 (Reuters) – China’s BYD Co Ltd (002594.SZ), opens new tab, on Monday posted record third-quarter earnings, its highest ever for any quarter, as the electric vehicle giant preserved its domestic market leadership despite softer demand and increased competition. Net profit for the third quarter reached 10.41 billion yuan ($1.42 billion), a 82.2%…
ORLANDO, Florida, Nov 5 (Reuters) – U.S. stocks and bond yields rose on Wednesday on surprisingly strong job growth and service sector data, which suggests the economy is in decent shape and calls into question how much lower the Federal Reserve needs to cut interest rates. I didn’t write a column today, but don’t worry…
WASHINGTON, (Reuters) Nov 4 – Alphabet’s (GOOGL.O), opens new tab Google said on Tuesday it has reached a comprehensive U.S. court settlement with “Fortnite” video game maker Epic Games, agreeing to Android and app store reforms aimed at lowering fees, boosting competition and expanding choices for developers and consumers. In a joint filing, opens new…
Nov 5 (Reuters) – Shares of Chinese electric vehicle maker Seres Group , the EV partner of technology firm Huawei (HWT.UL), fell almost 2% in the company’s Hong Kong Stock Exchange debut on Wednesday after it raised $1.84 billion in a listing. Seres Group, already listed in Shanghai, sold 108.6 million shares at HK$131.50 each…
South Korea leads declines amid broad retreat Bitcoin, gold attempt recovery after selloff Wall Street CEOs question sustainability of rally SINGAPORE, Nov 5 (Reuters) – Asian stocks extended an overnight selloff on Wall Street in early trading on Wednesday as investor concerns about stretched valuations sapped confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan…
Morgan Stanley CEO sees 10%-15% equity markets drawdown Analysts and investors debate whether markets are in a bubble Futures linked to Wall Street’s main indexes edge lower Nov 4 (Reuters) – CEOs of Wall Street heavyweights Morgan Stanley (MS.N), opens new tab and Goldman Sachs (GS.N), opens new tab on Tuesday cautioned that equity markets…
Shein to open outlet in Paris department store on Wednesday Its first permanent stores have drawn widespread criticism France working on fast fashion law that Shein opposes Shein under scrutiny in France over low-cost business model LONDON, Nov 4 (Reuters) – Chinese online fashion platform Shein is ramping up its fight in France, gambling that…
BEIJING, Nov 4 (Reuters) – Tesla’s (TSLA.O), opens new tab China-made electric vehicle sales fell 9.9% to 61,497 units in October from a year earlier, reversing a 2.8% increase in September, data from the China Passenger Car Association showed on Tuesday. Sales of the U.S. automaker’s Model 3 and Model Y vehicles made at its…
COPENHAGEN, Nov 4 (Reuters) – Volvo Cars <VOLCARb.ST, opens new tab> sold 60,455 cars in October, down 2% compared to the same period last year, the Sweden-based company said on Tuesday. “This month’s sales figures reflect the challenging market conditions that continue to impact our business,” Chief Commercial Officer Erik Severinson said in a statement….