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Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street. Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404. Apple remains narrowly in first place at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022. But it has fallen below the milestone, even […]
NEW YORK, United States (AFP) – Wall Street stocks fell again Monday as recession fears brought volatility to financial markets, pushing the pound to an all-time low against the greenback and pressuring oil prices. After last week’s rout, US indices climbed early in the session before tumbling back into the red. Both the Dow and S&P 500 dropped more than one percent to finish at their lowest value of the year. The Dow also entered […]
HONG KONG, China (AFP) – Asian markets rallied Friday following a healthy performance on Wall Street, with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. The more confident mood was reflected in a dip in the dollar, which has surged in recent weeks to multi-decade highs against its major peers owing to the Federal Reserve’s hawkish tilt to tighter monetary policy. The greenback’s softness came even after Fed chief Jerome […]
HONG KONG, China (AFP) — Asian markets were mixed Thursday as another forecast-busting US inflation print ramped up bets on a series of sharp interest rate hikes by the Federal Reserve, and other central banks race to tighten monetary policy. The keenly awaited consumer price index came in at a blistering 9.1 percent in June, the highest since November 1981, as energy costs continued to rocket on the back of rising demand and weak […]
NEW YORK, United States (AFP) — US stocks lost more ground on Tuesday after President Joe Biden imposed a ban on imports of Russian petroleum, and more major firms announced they were shutting operations in Russia. Britain also announced it was phasing out energy purchases from Russia after the invasion of Ukraine, while oil giants Shell and BP, both based in Britain, said they would stop buying Russian oil and natural gas immediately. The […]
NEW YORK, United states (AFP) — Wall Street opened higher on Monday as traders took heart from news of falling coronavirus death rates in hard-hit countries even as US cases were poised to spike. The IMF noted early signs of a recovery in the world’s second-largest economy China, including rising pollution levels, but news that a meeting of top oil producers had been delayed sent oil prices slumping. The Dow Jones Industrial Average was up […]
NEW YORK, United States (AFP) — More cases of the new coronavirus outside China along with warnings by major companies that their earnings could be hurt caused most stock markets to pull back on Friday. “Coronavirus was back at the top of the agenda on Friday, with a rising number of new cases in China and South Korea putting the fear in investors,” remarked Spreadex analyst Connor Campbell. More than 2,200 people have died […]
HONG KONG, China (AFP) — Asian markets rallied again Thursday despite China’s virus claiming hundreds of lives and infecting tens of thousands, with investors welcoming another record close on Wall Street and strong US jobs data. Equities gained across the board on building optimism that the outbreak, which has spread to more than 20 countries, can be contained and the economic impact limited. After last week’s big losses, and a near eight-percent drop in Shanghai […]
Tokyo, Japan (AFP) — Tokyo shares opened higher on Friday after US markets finished at new record highs thanks to bright corporate earnings and a higher dollar that also encouraged investors. The Nikkei 225 index added 0.76 percent or 181.87 points to 24,115.00 in early trade, while the broader Topix index gained 0.49 percent or 8.45 points to 1,737.17. “The Japanese market today should show solid performance, buoyed by the strength of US shares which […]
HONG KONG, China (AFP) — Asian markets sank Wednesday and the dollar struggled to bounce back following a worse-than-expected reading on US factory activity that revived worries about the impact of the trade war on the global economy. Adding to the selling pressure in Hong Kong were long-running concerns about the impact of increasingly violent pro-democracy protests in the city that saw a demonstrator shot and wounded by police on Tuesday. Regional investors took their […]
HONG KONG, China (AFP) — Asian markets largely extended their losses on Wednesday despite Wall Street registering strong gains as investors remained on edge over escalating US-China trade tensions. Asia’s losses came despite a gain of more than one percent for US indices as Wall Street recovered from a multi-session losing streak that saw the Dow hit its lowest level this year. Equities had tumbled Monday after Beijing allowed the yuan to slide sharply against […]
HONG KONG, China (AFP) — Asian markets extended a global sell-off Tuesday following hefty losses on Wall Street that came in response to China’s hike in tariffs on $60 billion of US imports, ramping up tensions in a trade war between the global economic titans. The move by Beijing was followed by a warning of further action such as dumping US Treasuries and came days after Washington more than doubled levies on $200 billion of […]
