Author: FX
Visuals Fervor LLC/iStock via Getty Images Real estate finished in green as Nvidia earnings, the biggest macro event of the week, helped the tech stocks rally and ticked up bullish sentiments across all major market averages. S&P 500 gained 1.66% during the course of the week to finish at $5,088.80, while the Dow Jones Industrial Average Index increased by 1.30% to end at $39,131.53. The NASDAQ Composite Index rose 1.40% to $15,996.82. The Real Estate Select Sector SPDR ETF (NYSEARCA:XLRE) gained 0.96% from last week, boosted by a 2.79% increase in Hotel & Resort REITs and 1.91% rise in Specialized…
© Reuters. By Timothy Gardner and Daphne Psaledakis WASHINGTON (Reuters) -The U.S. has imposed sanctions on Russia’s leading tanker group Sovcomflot as Washington seeks to reduce Russia’s revenues from oil sales it can use to support the invasion of Ukraine, the Treasury Department said on Friday. Russia is one of he world’s top oil exporters and the sanctions were the latest in an effort by Western countries to add costs on the shipping of its and oil products while keeping the petroleum flowing to global markets. The Treasury’s Office of Foreign Asset Control also designated 14 crude oil tankers vessels…
Mon: US New Home Sales (Jan), Dallas Fed (Feb), Japanese CPI (Jan), UK Nationwide (Feb)Tue: US Democratic Primary – Michigan; German GfK (Mar), US Durable Goods (Jan), Consumer Confidence (Feb), Richmond Fed (Feb)Wed: RBNZ Policy Announcement, Australian CPI (Jan), Swedish PPI (Jan), EZ Consumer Confidence Final (Feb), US GDP 2nd/PCE Prices Prelim. (Q4), Japanese Retail Sales (Jan)Thu: Australian Retail Sales (Jan), US PCE (Jan), Canadian GDP (Q4)Fri: Chinese NBS PMIs (Feb), EZ CPI (Feb), US ISM Manufacturing PMI (Feb).Note: Previews are listed in day orderJapan CPI (Mon):National Core CPI is seen easing to 1.8% Y/Y in January from 2.3% in…
Hiroshi Watanabe Concerns have cropped up over the past couple of years that Apple (NASDAQ:AAPL) has fallen behind competitors like Nvidia (NVDA), Microsoft (MSFT) and others in the generative artificial intelligence space, as investors have rewarded them with massive valuation increases. Despite these concerns, investment firm Bernstein believes the tech giant has much to tell consumers and investors on the topic. And it starts with the iPhone. What is an AI phone? The term ‘AI phone’ is seen as a bit “squishy,” since everyone seems to have different definitions of what it actually is. However, most agree that the AI…
2/2 © Reuters. Protesters wearing shirts with the logos of the FNSEA and Jeunes Agriculteurs farmers’ unions gather to protest at the opening of the 60th International Agriculture Fair (Salon de l’Agriculture) at the Porte Versailles exhibition centre in Paris, France, 2/2 By Stephanie Lecocq and Manuel Ausloos PARIS (Reuters) -A group of French farmers stormed into a major Paris farm fair on Saturday ahead of a planned visit by President Emmanuel Macron amid anger over costs, red tape and green regulations. Facing dozens of police officers inside the trade fair, the farmers were shouting and booing, calling for the…
© Reuters. FILE PHOTO: A view shows the urban area of the municipality of Santa Catarina near the land where Tesla has indicated it could build a new gigafactory, in Santa Catarina, on the outskirts of Monterrey, Mexico February 28, 2023. REUTERS/Daniel Becerril/Fil By David Shepardson WASHINGTON (Reuters) -The U.S. government should block the import of low-cost Chinese autos and parts from Mexico, a U.S. manufacturing advocacy group said on Friday, warning they could threaten the viability of American car companies. “The introduction of cheap Chinese autos – which are so inexpensive because they are backed with the power and…
SlavkoSereda/iStock via Getty Images Crude oil futures fell this week following back-to-back weekly gains, after hawkish Federal Reserve meeting minutes and cautious comments by several Fed officials helped tamp down hopes for interest rate cuts that could boost energy demand. Fed Gov. Chris Waller, for example, said there was “no rush” to cut rates following stronger than expected inflation and economic data since the start of this year. The U.S. reported another build in domestic crude stocks this week alongside low refinery runs, while production held near a record 13.3M bbl/day. “Worries that the Federal Reserve will leave interest rates…
Monty Rakusen/DigitalVision via Getty Images Union Pacific (NYSE:UNP) this week rose 4.2% for the biggest gain among large-cap industrial stocks. The freight railroad, a bellwether of manufacturing activity, closed at a record high. The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings include some of the largest U.S. companies in the sector, rose 1.9% for the week and closed at a record high. The performance mirrored gains for U.S. stocks, with Standard & Poor’s 500 stock index (SP500) and the Dow Industrials Average (DJI) closing at record highs on Thursday and Friday. The Nasdaq Composite (COMP.IND) closed at a record…
© Reuters. Altus Group Limited (AIF), a leading provider of software, data solutions, and independent advisory services to the global commercial real estate industry, has reported strong financial results for the fourth quarter and the full fiscal year of 2023. The company saw double-digit growth in recurring revenue and a significant increase in free cash flow. Altus Group anticipates easing CRE macro pressures in the latter half of 2024, which is expected to contribute to new bookings growth and an accelerated conversion of backlog into revenue. The company’s focus remains on innovation, with plans to launch new performance management capabilities…
Despite being a shortened trading week, it was a pretty eventful one that started off with the largest PBOC loan rate cut on record and ended with mixed global PMI data. Source link