Spotify Technology saw a significant surge of 13% after posting second quarter earnings that exceeded expectations. Not only did the company top estimates, but its gross margin and operating income also outperformed. This positive performance is a clear indication of the company’s strength in the competitive music streaming industry. General Motors witnessed a jump of
Finance
CrowdStrike, a cybersecurity stock, experienced a 4% drop after Guggenheim downgraded it to neutral from buy. This decision was based on the belief that the company may not come out unscathed from the recent global outage. This raises concerns about the future performance of the stock and its ability to recover from the setback. Nvidia
The recent uptick in money flowing into small-cap stocks may not be solely a result of a rotation from winning growth trades, according to Dave Nadig, an ETF journalist and financial futurist. In fact, Nadig believes that investors are simply diversifying their portfolios by “just buying, buying, buying.” This trend towards diversification is seen as
China’s top officials have made it clear that the country will prioritize its own affairs amidst escalating trade tensions. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, emphasized the importance of focusing on internal matters to ensure the smooth and steady progress of the national economy.
The market saw a notable decline in chip stocks in premarket trading, with some of the largest semiconductor companies like Nvidia, Taiwan Semiconductor, and AMD all experiencing drops in their stock prices. This was attributed to a Bloomberg News report suggesting that the Biden Administration is considering imposing stricter trade restrictions due to concerns about
The price of gold has surged to a record high, reaching $2,465.30 on Tuesday. This increase in gold futures was driven by growing expectations of an interest rate cut in September, which has bolstered demand for the precious metal. The spot gold price hit an all-time high of $2,465.19 during the session, indicating a strong
The health care insurance sector saw a positive uptick in midday trading, with companies like Humana and UnitedHealth Group gaining around 1% each. The increased likelihood of a Donald Trump victory in the upcoming presidential election has raised hopes of fewer cost pressures in the industry. Wolfe Research has also identified Humana as a potential
As China’s highly anticipated “Third Plenum” gets underway, there are dire predictions regarding the constraining of the financial sector, especially in light of the country’s slowing economic growth. The focus is shifting towards reinforced support for high-tech and manufacturing, areas that are expected to see continued success in the coming years. It is believed that
China has been making significant progress in the development and deployment of robotaxis in recent years. Local Chinese governments, from Beijing to Guangzhou, have been allowing domestic players to operate robotaxi rides for the public. This has led to a surge in the popularity of robotaxis, with videos about fully autonomous driving taxi experiences becoming
Intuit, the parent company of TurboTax, recently faced a setback in midday trading as its shares fell by nearly 4%. This decline was a result of the company’s decision to cut 1,800 jobs, representing about 10% of its workforce. The move came as Intuit seeks to increase investments in artificial intelligence. However, it also announced
Nvidia has been making waves in the stock market, with its shares seeing a 1.8% increase following KeyBanc’s optimistic price target hike to $180. This move implies a significant 40% upside from Monday’s close. The firm’s positive outlook is based on the strong demand for Nvidia’s H100 chip, which has remained robust despite the impending
Chemours, a chemical company, saw a 3% increase in stock price after UBS upgraded the company from buy to neutral. This upgrade was based on the belief that the stock could outperform as refrigerants experience favorable demand and price drivers heading into the next year. This positive outlook indicates potential growth for the company in
In recent years, the number of employment scams has increased significantly. Criminals are now leveraging technologies such as artificial intelligence to trick unsuspecting job seekers into providing personal information and money. According to a report by the Identity Theft Resource Center, consumer reports of job scams surged by 118% in 2023 compared to the previous
Investors in Mainland China have been closely monitoring the performance of U.S. stocks, while expressing disappointment over the lackluster performance of domestic stocks. However, despite the macroeconomic differences, there have been some notable performers in the Chinese stock market in the first half of the year. One such stock is Foxconn Industrial Internet, a key