Major central banks were soon to suspend rate hikes. Now it’s not so clear

Major central banks were soon to suspend rate hikes.  Now it’s not so clear

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

Japanese stocks jump 2%, Asian markets rise after US reaches tentative debt ceiling deal

Japanese stocks jump 2%, Asian markets rise after US reaches tentative debt ceiling deal

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

Biden advances renewable energy transmission projects in Nevada

Biden advances renewable energy transmission projects in Nevada

The Interior Department’s Bureau of Land Management said this week that it has advanced two transmission projects proposed by utility NV Energy that would facilitate the development and delivery of renewable energy in Nevada. The agency will initiate an environmental review of the Greenlink North project, which will span more than 450 miles to connect … Read more

Nvidia’s “iPhone moment” in AI signals tons of future growth. New price target

Nvidia’s “iPhone moment” in AI signals tons of future growth.  New price target

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

Bank of Korea Holds Rates for Third Consecutive Time; Mixed Asian markets

Bank of Korea Holds Rates for Third Consecutive Time;  Mixed Asian markets

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

UK inflation drops below 10% for first time since August

UK inflation drops below 10% for first time since August

UK inflation data paints a picture of the UK economy. Bloomberg/Contributor/Getty Images LONDON — UK inflation fell sharply in April as energy prices retreated and the impact of Russia’s invasion of Ukraine began to fade from the annual comparison of consumer price. Headline CPI inflation stood at 8.7% year-on-year, the Office for National Statistics said … Read more

Yelp, AutoZone, Lowe’s and more

Yelp, AutoZone, Lowe’s and 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 oil minister warns market speculators to ‘be careful’ ahead of OPEC+ meeting

Saudi oil minister warns market speculators to ‘be careful’ ahead of OPEC+ meeting

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

Asian markets mixed as US debt ceiling talks end without deal

Asian markets mixed as US debt ceiling talks end without deal

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

Stock market today: live updates

Stock market today: live updates

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