Asian stocks advanced on Friday, with Japan and South Korea setting fresh records, as the reopening of the Strait of Hormuz pulled oil prices lower and gave investors a stronger disinflation story to trade. The rally was not risk-free. The dollar hovered near a 13-month high after the Federal Reserve’s…
Indian IT shares fell sharply on Friday after Accenture’s weaker outlook revived concerns that global technology spending remains fragile despite strong investor enthusiasm around artificial intelligence.The Nifty IT index dropped as much as 5.8%, making it one of the worst-performing sector gauges in Mumbai, after Accenture lowered the upper end…
Robinhood Markets HOOD shares moved higher on Wednesday after multiple Wall Street firms reaffirmed their bullish outlook on the online brokerage, arguing that the company’s growth prospects remain strong.The bullish view came despite a planned workforce reduction affecting roughly 10% of employees.The stock gained more than 12% in mid day…
Allbirds completed its transformation from a footwear company into an artificial intelligence infrastructure provider on Wednesday, changing its name to Smartbird and appointing former Amazon executive Nadia Carlsten as chief executive officer.The announcement sent shares of the company, which continues to trade under the ticker BIRD, sharply higher. The stock…
US stocks fell sharply on Wednesday, with the Dow Jones Industrial Average shedding nearly 500 points, after the Federal Reserve left interest rates unchanged but signaled that policymakers may still need to raise borrowing costs to contain inflation.The Dow closed down 507 points, or 0.98%, at 51,492.55. The S&P 500…
The FTSE 100 Index remained in a narrow range this week as focus shifted to the key UK macro data and actions from the Federal Reserve and the Bank of England (BoE). It was trading at 10,440 points on Wednesday, up from this month’s low of 10,122.Bank of England interest…
Wall Street’s careening trajectory has left investors grappling with a highly volatile macro climate.Despite brief relief from a tentative US-Iran ceasefire, the Federal Reserve’s latest Summary of Economic Projections paints a hawkish picture – slashing GDP expectations while projecting sticky PCE inflation at 3.6%.With newly appointed Fed Chair Kevin Warsh…
The National Stock Exchange of India has filed its draft red herring prospectus with SEBI, bringing the country’s most-awaited market listing a step closer after nearly a decade of delays. The proposed initial public offering is expected to be a pure offer-for-sale of about ₹30,000 crore, large enough to overtake…
Asian markets were broadly steady on Thursday as investors looked past the formal signing of a US-Iran interim peace agreement and focused instead on what comes next for oil, rates and risk appetite. The deal extends an April ceasefire by 60 days and aims to create room for a final…
Micron stock (NASDAQ: MU) remains in focus ahead of the company’s fiscal third-quarter results on June 24, with investors debating whether one of Wall Street’s strongest AI-linked rallies still has room to run. The stock has surged as the memory-chip cycle has tightened, but a fresh bullish call has pushed…