Tag Archives: Market News

The UK Chancellor of the Exchequer Jeremy Hunt is optimistic that inflation would ease. UK inflation came in for September at 6.7%, higher than expectations set by analysts. Also, inflation in the UK remained unchanged from August. While inflation remained unaltered, the UK’s headline consumer price index (CPI) met expectations from economists polled by Reuters. The economists predicted a monthly increase of 0.5% and an annual 6.6%. For core CPI, the UK’s figure fell to 6.1%...

ASML is taking a conservative view of 2024, with revenue projections similar to 2023. ASML Holding NV (NASDAQ: ASML), one of the world’s leading semiconductor firms has reported a significant year-on-year rise in profit for the third quarter of 2023, exceeding analyst expectations. However, the company forecasts that its revenue in 2024 will remain flat. This comes as the semiconductor industry experiences a period of uncertainty, with ASML CEO Peter Wennink acknowledging the ongoing...

Though the anticipation for MiCA has gone into full throttle, ESMA has warned national regulators against allowing what it calls ‘letterbox’ entities. The European Securities and Markets Authority (ESMA) is wary of global crypto firms who might try to exploit loopholes currently present in its Markets in Crypto Assets regulation (MiCA). MiCA, whose rules are set to take effect by December 2024, would allow companies that have been registered under an existing regime to continue doing their...

Country Garden’s struggles come amidst broader turmoil within the Chinese property development sector. China’s leading private property developer Country Garden is grappling with a severe default risk on its offshore debt as it races against time to meet a critical $15 million coupon payment due on Tuesday, signifying the end of a 30-day grace period. Failure to meet this payment will trigger cross defaults, a standard within the company’s bond contracts. The company’s difficulties have...

Bank of America, once expected to be a major beneficiary of rising interest rates, has faced unexpected challenges in 2023. In a recent earnings report, Bank of America Corp (NYSE: BAC) showcased its resilience and financial strength, surpassing analysts’ expectations for the third quarter of the year (Q3 2023). Exceeding Earnings Expectations The North Carolina-based banking giant reported robust earnings per share and impressive revenue figures, further cementing its reputation as one of...

A new report notes that AI has brought trillions in good fortune to tech giants in the United States, like Microsoft, Apple, and Amazon. The ongoing AI explosion has benefited several tech companies in the US, adding trillions to their market capitalizations in a year. According to a venture capital firm Accel report, AI has helped US tech giants increase their valuations by $2.4 trillion. Tech Giants Enjoy AI Boom Accel published its annual Euroscape Report, noting the benefits tech...

The US stock futures were slightly down early this morning as the third-quarter earnings season gained momentum. According to reports, futures tied to the Dow Jones Industrial Average (INDEXDJX: .DJI) lost 46 points, or 0.13%, S&P 500 Index (INDEXSP: .INX) fell 0.13%, and Nasdaq 100 futures were also down 0.12%. US Stock Futures: Monday’s Optimistic Performance During Monday’s primary trading session, the major stock averages managed to close in the green, defying expectations as...

Last week, the release of September’s Consumer Price Index (CPI) data showed a monthly increase of 0.4% and an annual increase of 3.7%. Treasury yields in the United States saw a modest increase earlier today, amid the ongoing uncertainty surrounding the country’s economic outlook. Investors continued to grapple with concerns related to monetary policy and geopolitical issues, making it a delicate balancing act for financial markets. Treasury Yield Fluctuations As of 5:35 a.m. Eastern...

Kokusai’s IPO appears promising and may become a reference point for new listings in the future. Chip equipment maker Kokusai Electric has raised $724.4 million after pricing its shares at 1,840 yen each in its IPO. Kokusai Electric spun out of Hitachi Kokusai Electric Inc. which KKR bought in 2017. The current share offerings put the company’s valuation at 423.9 billion yen ($2.8 billion) – a 60% increase from the price KKR paid to acquire the group in 2017. Kokusai set its shares at the...

The progress on the Grayscale conversion front offers a welcome degree of clarity to the ETF approval process, which had been somewhat murky. The crypto community has witnessed a significant milestone as recent reports indicate that the Securities and Exchange Commission (SEC) decided not to appeal a court ruling that could potentially pave the way for Grayscale Investments to convert its Bitcoin Trust into an Exchange-Traded Fund (ETF). This development has left analysts and investors...