The FTSE 100 (^FTSE) and European stocks finished higher for a second day on Tuesday, while Wall Street wavered as anxiety about inflated AI valuations overshadowed signals that the US government shutdown is set to end soon. SoftBank Group (SFTBY) said on Tuesday it had sold its entire stake in chipmaker Nvidia (NVDA) to fund…
Russian crude shipments fell by the widest margin seen since January 2024 over the past month, according to vessel-tracking data from Bloomberg, as US sanctions have begun to show their effect. Four-week average volumes of crude oil shipped from Russia’s ports tallied 3.58 million barrels per day for the period ended November 2, down by…
Tech led a sharp pullback in US stock futures on Tuesday as doubts about high-running valuations preyed on investors sifting through the latest flurry of quarterly earnings. S&P 500 futures (ES=F) sank 1.1%, while those on the tech-heavy Nasdaq 100 (NQ=F) tumbled 1.5%. Contracts on the Dow Jones Industrial Average (YM=F), which includes fewer tech…
Tech led a sharp pullback in US stock futures on Tuesday as doubts about the AI-fueled rally crept in and investors waited for the next rush of quarterly earnings. S&P 500 futures (ES=F) sank 1.3%, while those on the tech-heavy Nasdaq 100 (NQ=F) tumbled 1.6%. Contracts on the Dow Jones Industrial Average (YM=F), which includes…
Shares of tobacco company Altria (NYSE:MO) fell 7.3% in the morning session after the company reported third-quarter results where revenues missed expectations, overshadowing an in-line result for earnings per share. The company announced adjusted quarterly earnings of $1.45 per share, an increase from $1.40 per share reported in the same quarter the previous year. Despite…
(Reuters) -U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins pledged to pursue minimal regulation and fast-track President Donald Trump‘s proposal to scrap quarterly earnings reports in an opinion piece for the Financial Times on Monday. “The government should provide the minimum effective dose of regulation needed to protect investors while allowing businesses to flourish,”…
Goldman Sachs (GS) CEO David Solomon said he hasn’t landed on a firm view about whether US public companies, including his own, should shift to reporting earnings half as often as the current standard. “I’m not ready to give … public advocacy on one side or the other,” Solomon said during a wide-ranging discussion at…
Traders work on the floor of the New York Stock Exchange. (Bloomberg) — For more than half a century publicly-traded US corporations have reported earnings at quarterly intervals, but during an early-morning wave of social media posts on Monday, President Donald Trump reignited a long-standing debate over the requirement. Trump is pushing for a six-month…
Stocks ended the week in rally mode after Federal Reserve Chair Jerome Powell opened the door for a September interest rate cut. In the week ahead, earnings from Nvidia (NVDA) will see the world’s largest company and AI leader test a summer rally that has stocks back near record highs. After slump earlier in the…
Amazon Web Services, the cloud computing division at the e-commerce giant helped power quarterly earnings that beat market expectations (RONNY HARTMANN) Tech giants Amazon, Apple, Meta and Microsoft this week eclipsed earnings expectations, cashing in on artificial intelligence (AI) while navigating economic waters roiled by US tariffs. “Massive results seen by Microsoft and Meta further…