The stronger-than-expected US jobs and GDP figures highlighted a key risk for the US Federal Reserve that could ease off the monetary brake. Economic resilience and continued tightness in the labor market could put upward pressure on wages and inflation, which risks becoming entrenched. Patrick Armstrong, chief investment officer at Plurimi Group, told CNBC last … Read more
53 minutes ago Singapore’s Temasek cuts salaries for senior management and investment team involved in FTX Singaporean public investor Temasek has cut compensation for senior management and its investment team responsible for recommending investment in failed cryptocurrency exchange FTX. “While there was no fault on the part of the investment team in making its investment … Read more
JPMorgan Chase is developing a ChatGPT-like software service that relies on a disruptive form of artificial intelligence to screen clients’ investments, CNBC has learned. The company filed a trademark application for a product called IndexGPT earlier this month, according to a filing with the New York-based bank. “It’s an artificial intelligence program to pick financial … Read more
Following Nvidia’s (NVDA) incredible quarter and surge in forecasts, we think shares of the AI chip powerhouse can still rise 14% off their all-time highs over the next six to nine months. This is typically our time horizon for a Club price target, which we increase on Nvidia to $450 per share from $300. We … Read more
8 minutes ago Bank of Korea set to start cutting rates early next year, Deutsche Bank says The Bank of Korea is expected to start cutting its benchmark interest rate early next year, said Juliana Lee, head of APAC economic research at Deutsche Bank. Lee added that she expects the central bank’s policy pivot to … Read more
Yelp Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York City. Michael Nagle | Bloomberg | Getty Images Find out which companies are making headlines in the midday business. Yelp – Shares of the online review firm jumped more than 9% after activist investor … Read more
Saudi Energy Minister Abdulaziz bin Salman speaks during a panel discussion at the Qatar Economic Forum in Doha, Qatar, May 23, 2023. Bloomberg | Bloomberg | Getty Images Saudi Oil Minister Prince Abdulaziz bin Salman told market speculators on Tuesday to “be careful”, reiterating his warning that they could face pain ahead. “The speculators, like … Read more
An hour ago New Zealand’s central bank is expected to hike rates by 25 basis points to 5.5% New Zealand’s central bank is expected to raise its benchmark key rates to 5.5% at its meeting on Tuesday, according to a Reuters poll of 25 economists. 21 of the economists surveyed expected a rise, while the … Read more
2 hours ago These are the sectors most likely to be hit the hardest by a lowering of the debt ceiling, according to RBC’s Lori Calvasina Investors have focused on the debt ceiling as the next potential clue to a market decline as President Joe Biden and House Speaker Kevin McCarthy meet Monday night. Financials, … Read more
20 minutes ago European stocks open mixed European stocks lacked direction on Monday morning as investors awaited the latest news on US debt ceiling talks, with the Stoxx 600 index up 0.07% at 8:12 a.m. London time. Mining, oil & gas and banking stocks suffered the worst losses, all down around 0.5%. Household goods and … Read more
