Traders work on the New York Stock Exchange floor on Oct. 16, 2024.Spencer Platt | Getty ImagesU.S. equity futures jumped on Monday morning as investors looked for a batch of megacap technology earnings to keep driving the Nasdaq Composite to new heights this week. A cooling geopolitical situation also aided risk sentiment.Weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as was feared and oil futures were lower in early trading.Futures tied to the Dow Jones Industrial Average added 179 points, or 0.42%. S&P 500 futures gained 0.53% and Nasdaq 100 futures increased by 0.73%.The market…
Author: user
What’s going on here?Indian stocks are facing headwinds as foreign investors shift their attention to China, with the Gift Nifty showing a flat opening around 24,222 today.What does this mean?Foreign Portfolio Investors (FPIs) have been aggressively selling Indian shares, pulling out $13.23 billion over 20 sessions. This exodus, driven by China’s appealing stimulus measures and lower valuations, has led the Nifty 50 to drop by 8% since late September. October is shaping up to be the worst month for the Nifty since March 2020, with a 6.3% decline this month alone. The broader market sentiment is impacted by mixed earnings…
Indonesia has blocked Apple Inc. from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements. Source link
MicroStrategy (NASDAQ:MSTR) executive chairman Michael Saylor humorously reached out to Microsoft (NASDAQ:MSFT) CEO Satya Nadella, suggesting he can help with the company’s Bitcoin (CRYPTO: BTC) strategy. What Happened: In a post on X on Friday, Saylor advised Nadella that if he’s interested in creating the next trillion-dollar opportunity, he should reach out. This comes as Microsoft, per an SEC filing, prepares to discuss a possible Bitcoin investment at its December shareholder meeting. MicroStrategy, despite being much smaller, has outperformed Microsoft by 313% largely due to its Bitcoin holdings. The company’s total bitcoin holdings as of Oct. 20 stand at 252,220,…
(Bloomberg) — Indonesia has blocked Apple Inc. from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements.Most Read from BloombergThe iPhone 16, launched in September, cannot be marketed domestically as local unit PT Apple Indonesia has not fulfilled the country’s 40% local content requirements for smart phones, the Ministry of Industry said in a statement on Oct. 25.That’s a road bump for Apple which has otherwise enjoyed healthy sales of its flagship product, especially as demand firms up in China. Indonesia is a $1-trillion economy, where the number…
Poman Lo, Founding Managing Partner at impact venture fund AlphaTrio Capital, discusses Hong Kong’s ambitions as a green finance hub and investing in climate tech. She speaks with Annabelle Droulers on “Bloomberg: The China Show” from the sidlines of the “Hong Kong FinTech Week”. (Source: Bloomberg) Source link
This article is sponsored by BeZero Carbon. Carbon markets have faced a challenging few years of intense media scrutiny. But in this time, the market has shown an immense capacity for self-reflection and improvement in how it has responded to concerns around integrity and incentives. This feedback loop means carbon markets today are almost unrecognizable compared to the landscape a few years ago. However, persistent media attention has spooked some businesses away from offsetting due to the prospect of reputational risk, despite the strides the market has made to resolve crucial issues around the effectiveness of carbon credits as climate…
TOKYO (AP) — Asian shares rose Monday, as the yen dipped in the midst of political uncertainty after Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections. In currency trading, the U.S. dollar rose to 153.76 Japanese yen from 152.24 yen. It was trading at 140-yen levels last month. The euro cost $1.0796, down form $1.0803. The weak yen is a boon for Japan’s giant exporters like Toyota Motor Corp., whose stock gained 3.7% in Tokyo trading. Nintendo Co. gained 2.6%, while Sony Corp. rose nearly 2.0%. Japan’s ruling Liberal Democratic Party is still the top…
The United States is a consumption-driven economy. But over the last half century, the US consumer has been weakening in the face of social and economic pressures. In recent years, the US Federal Reserve’s easy money policies along with fiscal stimulus have boosted consumption, but with inflation’s resurgence post-pandemic, such measures have run their course and consumer spending has resumed its long-term trend of declining growth. This will likely lead to recession. What’s the alternative? A US iteration of Japanification in which the Fed, the federal government, or some combination thereof artificially keep the US consumer afloat. A Consumer-Driven Economy…
View of Iran’s oil industry installations in Mahshahr, Khuzestan province, southern Iran.Kaveh Kazemi | Getty ImagesOil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future.Andy Lipowpresident at Lipow Oil Associates”The recent Israel military action is unlikely to be seen by the market as leading to an escalation that impacts oil supply,” Citi analysts wrote in a note on Monday, cutting the bank’s Brent oil forecast by $4 to $70 per barrel over the next three months.Oil markets are also staring at an…