Hong Kong’s retail sector recorded growth for a 15th consecutive month in July, with the government reporting a 4.5 per cent increase year on year, although the pace of expansion slowed amid adverse weather and continued outbound travel by residents. Retail sales value for the month reached HK$31 billion (US$4 billion), while sales in the…
Days before President Donald Trump was sworn in for his second term, he acknowledged the high prices Americans were seeing at the gas pump and grocery store, pledging to bring them down. “It’s always hard to bring down prices when somebody else has screwed something up like [President Joe Biden] did,” Trump said in a…
Big Tech “Magnificent Seven” stocks were headed for steep weekly losses on Friday morning as investors grew increasingly skeptical of whether the sky-high valuations and spending levels that have defined the AI buildout so far are sustainable. Chipmaking leader Nvidia (NVDA) lost around 3% in the first hour of trading Friday morning, after a Trump…
Big Tech “Magnificent Seven” stocks were headed for steep weekly losses on Friday morning as investors grew increasingly skeptical of whether the sky-high valuations and spending levels that have defined the AI buildout so far are sustainable. Chipmaking leader Nvidia (NVDA) lost around 3% in the first hour of trading Friday morning, after a Trump…
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning, along with: In lieu of official economic data (thanks, government shutdown), we have the Chipotle (CMG) economic indicator. And if it’s to be believed on an initial pass, we are either in a mild recession…