Dollar softens after claims data, pound recovers from BoE-led low

Reuters | May 9, 2024

By Chuck Mikolajczak NEW YORK (Reuters) -The dollar weakened against most currencies on Thursday after economic data showed more signs of softening in the U.S. labor market, while the pound rebounded from earlier lows after the Bank of England opened the door for an interest rate cut. Weekly initial claims for state unemployment benefits increased […]

Nikola’s revenue misses estimates on slowing truck demand

Reuters | May 7, 2024

(Reuters) -Nikola missed Wall Street expectations for first-quarter revenue on Tuesday, as the electric truck maker delivered fewer hydrogen fuel cell trucks amid an uncertain macroeconomic outlook and reduced spending by customers. The company reported revenue of $7.5 million, missing expectations of $15.8 million, according to LSEG data. Its shares fell 4.5% in afternoon trading. […]

April U.S. Jobs Report Shows Looser Labor Market, Good News for Fed

Reuters | May 3, 2024

(Reuters) -U.S. job growth slowed more than expected in April and annual wage gains cooled, signs of a looser labor market which are good news for markets and the Federal Reserve that will likely require more such signals before pivoting from a higher for longer policy. Nonfarm payrolls increased by 175,000 jobs last month, the […]

Oil settles near 7-week lows, focus shifts to economy

Reuters | May 2, 2024

By Shariq Khan NEW YORK (Reuters) -Oil prices settled on Thursday near their lowest level in seven-weeks, narrowly mixed and under pressure from weaker global demand, rising inventories and fading hopes for a quick cut in U.S. interest rates. U.S. West Texas Intermediate crude futures fell 5 cents to settle at $78.95 a barrel, the […]

Amgen investors await weight-loss drug data

Reuters | May 1, 2024

By Deena Beasley (Reuters) -Amgen investors eyeing dramatic share price gains for rivals with successful obesity drugs will be focused on any updates the biotech company may provide on its own weight-loss drug candidates when it reports quarterly earnings on Thursday. Amgen has said it expects to have first-in-human results from a small, early-stage trial […]

Royal Caribbean Lifts Profit View Again On Cruise Boom, Higher Prices

Reuters | April 25, 2024

By Juveria Tabassum and Doyinsola Oladipo (Reuters) -Royal Caribbean Group on Thursday raised its annual profit forecast for a second time, after record bookings during the first quarter and higher ticket pricing boosted its results, sending its shares 4% higher premarket. Soaring demand for vacations at sea has given cruise operators ample room to raise […]

HSBC Says Growing Chinese Wealth Fuels Client Investments In U.S.

Reuters | April 24, 2024

By Tatiana Bautzer and Lananh Nguyen NEW YORK (Reuters) – HSBC’s wealthy clients in China and Hong Kong are still eager to invest in the U.S., according to Michael Roberts, the bank’s CEO for the USA and Americas. China’s economic growth remains strong relative to other nations, and its wealthy citizens are focused on overseas […]

Kimberly-Clark Lifts Annual Forecasts Fueled By Robust Demand, Higher Prices

Reuters | April 23, 2024

(Reuters) -Kimberly-Clark raised 2024 sales and profit forecasts on Tuesday after it topped quarterly expectations, banking on higher pricing and steady demand for its premium personal care and household products, sending its shares about 8% higher in early trading. Top consumer goods companies have been increasing prices since the pandemic to counter escalating costs, which […]

Equities gain, gold drops as fears of wider Middle East conflict ease

Reuters | April 22, 2024

By Chris Prentice and Alun John NEW YORK/LONDON (Reuters) -Investors scaled back safe-haven bets on Monday as worries over a wider Middle East conflict eased, boosting world equities and pressuring gold, oil and bond prices. MSCI’s gauge of stocks across the globe rose 6.01 points, or 0.81%, to 749.29. In a reversal of Friday’s “risk […]

Micron set to get $6.1 billion in chip grants from US

Reuters | April 18, 2024

(Reuters) -Memory chip maker Micron Technology is set to receive $6.1 billion in grants from the U.S. Commerce Department to help pay for domestic chip factory projects, Democratic U.S. Senate Majority Leader Chuck Schumer said on Thursday. The award, which is not yet finalized, will fund chipmaking facilities in New York and Idaho from the […]

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