It’s 1 a.m. and Thomas Wu is riding his bike on the empty streets of Shanghai. The 43-year-old insurance executive has had another meltdown. Wu’s pay has been slashed by 20% in a nationwide push to lower salaries at state-owned finance companies. He frets about layoffs and wonders how he’ll find 600,000 yuan ($84,500) to…
The Dow hit an intraday record high, but technology stocks weighed on the S&P 500 and the Nasdaq on Monday ahead of the Federal Reserve’s pivotal monetary policy decision, due later in the week. In recent trading, the Dow Jones Industrial Average gained 121 points, or 0.3%, to 41,515. The blue-chip index had soared more than 300 points…
Consultancy PwC estimates artificial intelligence (AI) will contribute more than $15 trillion to the global economy by 2030. Investors hoping to benefit are piling into AI stocks, and Nvidia (NASDAQ: NVDA) and Palantir Technologies (NYSE: PLTR) have been two of the most popular choices. In the last two years, Nvidia shares surged 728%, and Palantir…
Wall Street closed out its best week of the year, with interest rates expected to drop after the Federal Reserve meets next week. The three major stock market indexes, which measure how stocks perform, all rose on Friday. The S&P 500 increased 0.5 percent, just 0.7 percent below its record high in July. Meanwhile, the…
Hopes for a big rate cut from the Federal Reserve next week got suddenly revived, sending the Dow near an all-time high. Stock and bond traders ramped up bets on Friday that the Fed could slash interest rates by 50 basis points — or half a percentage point — after the Wall Street Journal reported…
US stock futures edged higher on Friday, setting the stage for strong weekly wins after Wall Street’s expectations for a jumbo interest-rate cut by the Federal Reserve shot up overnight. S&P 500 futures (ES=F) moved up 0.2%, while Nasdaq 100 futures (NQ=F) added 0.1% to point to a fifth day of gains for both gauges…
Huawei Technologies Co.’s revenue grew for the sixth straight quarter after its smartphones gained market share in China at Apple Inc.’s expense. The Chinese networking and electronics leader posted a revenue of 239 billion yuan ($33.6 billion) in the June quarter, up 33.7% from a year earlier, according to calculations based on the company’s six-month…