Tag Archives: Market News

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Thursday targeting two tanker owners involved in shipping Russian oil that exceeded the established price cap.  In a recent development, oil prices saw a remarkable surge, rising by 4% earlier today, following the United States’ decision to intensify sanctions against Russian crude exports. According to reports, International benchmark Brent crude futures, set to expire in December, traded...

Didi was initially listed on the New York Stock Exchange but then it was compelled to delist due to regulatory issues in China. Chinese ride-hailing giant, Didi Global Inc (NYSE: DIDI) is reportedly making strategic moves in preparation for its upcoming Initial Public Offering (IPO) on the Hong Kong Stock Exchange (HSE) next year. People with knowledge of the matter stated that the company recently informed its employees that they have the option to sell their shares as part of an employee...

Out of the 1,258 job cuts, more than 750 positions are from different levels of Qualcomm’s engineering ranks. The rest of the reductions cover a broad range of roles such as internal technical staff and accounting.  American largest chipmaker Qualcomm Inc (NASDAQ: QCOM) will lay off about 1258 employees in its California unit. According to a filing with the California Employment Development Department, as many as 1,064 of its San Diego employees and 194 of its Santa Clara employees will be...

Data released by the Labor Department show that CPI for September increased higher than expected, with several prices up from August. According to figures published by the Labor Department, the prices of goods and services increased quicker than expected in September. The consumer price index (CPI) rose 0.4% in September and 3.7% compared with the same period last year. This was higher than expected, as Dow Jones estimated increases of 0.3% and 3.6%, respectively. September CPI Report...

Delta AirLines see strong demand for international travel during the fourth quarter of 2023. However, rising fuel costs can eat into the company’s profits. In their latest update, Delta Air Lines (NYSE: DAL) reported that their profits jumped by a staggering 60% during the third quarter (Q3 2023) as the travel demand remained strong during the summer. This was particularly true for international trips, said the airline operator. However, Delta Air Lines noted that the full-year earnings...

Following the attack by Hamas on Israel on October 7, traders initially priced in a $3 to $4 risk premium when oil markets opened. The International Energy Agency (IEA), known as the world’s leading energy regulator, has recently warned that the global energy market is likely to remain volatile as the war between Israel and Hamas persists. The IEA Warning on Energy Market According to a CNBC report, the IEA stated in its latest monthly oil market release that, while the conflict has not...

This strategic investment, totaling around $65 million, translates to approximately 0.01 percentage point in each bank. The impact on the market was immediate and substantial, with shares of these major banks soaring between 2.43% and 4.73% in the early hours of Thursday. China’s sovereign wealth fund, Central Huijin Investment Ltd, has taken a significant step to bolster the country’s struggling stock market. In a move similar to its 2015 intervention, Huijin has increased its stake in...

Following the September meeting, the 10-year Treasury yield had risen to approximately 4.66% as of October 10, reflecting the expected rate increases that policymakers had indicated earlier. Federal Reserve officials have opted to maintain their cautious approach to monetary policy, leaving interest rates unchanged during their September meeting. Minutes from the September 19-20 meeting revealed a consensus among policymakers that the US economy faced mounting uncertainties. Most meeting...

One notable adjustment pertained to the Net Asset Value (NAV) calculations, which ARK Invest acknowledged were not aligned with Generally Accepted Accounting Principles (GAAP), the accounting standard endorsed by the SEC.  Eric Balchunas, an ETF analyst at Bloomberg, recently took to the social media platform X to reveal that ARK Invest’s latest amendment to its spot Bitcoin Exchange Traded Fund (ETF) filing may signify a positive step toward future approvals for a Bitcoin ETF. It’s worth...

The announcement of this landmark deal follows a recent report which hinted at the two companies’ progress toward an agreement. Since that report, Pioneer shares have surged by over 10%. ExxonMobil Corp (NYSE: XOM) has announced its agreement to acquire shale rival Pioneer Natural Resources Co (NYSE: PXD) for a staggering $59.5 billion in an all-stock transaction, equivalent to $253 per share. The deal has captured the attention of the financial industry and is set to significantly...