The Federal Reserve has once again decided not to cut interest rates as it grapples with the challenge of rising inflation. The central bank opted to keep its benchmark short-term borrowing rate steady in a targeted range between 5.25% – 5%. This decision comes after the Fed last hiked rates in July 2023, marking its
Finance
Amazon surprised investors by beating both top and bottom-line expectations in their recent earnings report. Earnings per share came in at 98 cents, surpassing analysts’ forecasts of 83 cents. Revenue also exceeded expectations at $143.31 billion. Despite this positive outcome, the company’s second-quarter revenue forecast fell short of estimates. On the other hand, Starbucks disappointed
Local Chinese authorities have recently lifted restrictions on Tesla cars after the company’s China-made vehicles successfully met the country’s data security requirements. This development came after Tesla CEO Elon Musk’s unexpected meeting with Chinese Premier Li Qiang in Beijing. The move is significant as Tesla’s electric cars are highly popular in China, but faced restrictions
In a recent interview with CNBC’s “ETF Edge,” Brett Winton, the chief futurist at ARK Invest, highlighted five technological areas that he believes will give tech investors an edge in the market. These areas include robotics, artificial intelligence, multi-omics sequencing, public blockchain, and energy storage. Winton emphasized that these sectors are all entering the marketplace
This tech giant has seen a 4% increase in shares after reporting fiscal third-quarter results that exceeded expectations. The Azure business continued to show momentum, contributing to the positive reaction from investors. This shows that Microsoft is continuing to innovate in the tech space and drive growth. Shares of Alphabet surged more than 11% after
Meta Platforms, the parent company of Facebook, experienced a significant drop of over 14% following the release of lighter-than-expected second-quarter revenue guidance. While first-quarter earnings and revenue exceeded analysts’ estimates, the disappointing second-quarter guidance caused a steep decline in the company’s stock value. This indicates that investors are particularly focused on future performance and growth
Xiaomi, a Chinese smartphone company, has recently made a foray into the electric vehicle market with its new electric SU7 sedan. Despite undercutting Tesla’s Model 3 on price, the new electric vehicle has been selling better than expected. As of April 20, Xiaomi has received more than 70,000 orders for the SU7 sedan, putting the
General Motors saw a 4% increase in stock value after posting $2.62 per share on revenues of $43.01 billion for the first quarter. This surpassed analysts’ expectations. GM also raised its expectations for adjusted automotive free cash flow, showing positive growth potential. Shares of GE Aerospace gained more than 4% after the company reported earnings
The uber wealthy live in a world apart, with investing strategies that set them apart from the average investor. According to Kevin Teng, CEO of WRISE Wealth Management Singapore, individuals with a total net worth of over $100 million are considered part of the 0.001% club of centimillionaires. Globally, there are around 28,420 centimillionaires, and
In a surprising turn of events, Chinese tech giant Tencent is showing signs of a turnaround in 2024 after three consecutive years of decline. The stock has outperformed Hong Kong’s main Hang Seng Index, gaining more than 3% so far this year. This is particularly impressive considering the index has experienced a decline of over
The global economy is experiencing a significant shift towards growth and expansion, particularly fueled by key players like China. Jan van Eck, the CEO of VanEck, emphasizes the importance of this transformation, highlighting China’s resurgence as a major driver of growth. This renewed growth trajectory in China, evident in the positive Manufacturing PMI as of
China’s fiscal stimulus, according to S&P Global Ratings senior analyst Yunbang Xu, is beginning to lose its effectiveness. In a recent report, Xu stated that the effectiveness of the fiscal stimulus is more of a strategic move to buy time for industrial and consumption policies rather than providing immediate results. The analysis conducted used the
Taiwan Semiconductor Manufacturing’s U.S.-traded shares experienced a 2.4% decline despite surpassing revenue and profit expectations in the first quarter. The company reported minimal structural damage from an earthquake in Taiwan earlier in April, although there were some wafers that had to be discarded. However, the management assured that most of the lost production would be
Former chair of the U.S. Federal Deposit Insurance Corp, Sheila Bair, has expressed her concerns regarding the quarterly earnings of regional banks and the vulnerabilities that may be exposed. Bair highlighted that some regional banks are still heavily reliant on industry deposits, have significant exposure to commercial real estate, and face potential instability with uninsured