Tag Archives: Market News

Observers are watching Apple stock, expecting that it would spike as Apple announces a new headset for augmented or virtual reality. Apple Inc (NASDAQ: AAPL) stock is on track to open at a possible all-time high as the tech giant prepares to launch its first-ever augmented reality (AR) and virtual reality (VR) headset. The launch is considered by many as one of Apple’s most significant product launches in the company’s nearly 50-year history. AAPL has climbed over 1% to more than $182...

Neuralink, the brain-computer interface company founded by Elon Musk, reached a valuation of $5 billion after gaining approval for human trials, increasing by over 150% in less than two years. Neuralink, the American neurotechnology company dedicated to the development of brain-computer interfaces, founded by Elon Musk, reached a valuation of $5 billion in private share transactions, according to several sources interviewed by Reuters. The startup of billionaire Elon Musk achieved this...

As part of a government-backed rescue plan earlier this year as well as a bid to prevent any financial market instability, UBS acquired Credit Suisse in a $3.2 billion deal. The long-awaited conclusion of the Credit Suisse Group AG (SWX: CSGN)  acquisition by investment banking giant UBS Group AG (SWX: UBSG) may happen “as early as June 12”. This will signify the birth of a massive Swiss bank with a balance sheet of $1.6 trillion. All that is left for the deal to be completed is its...

Economists predict the US Treasury’s forthcoming debt issuance will hit $1 trillion and may eventually cause economic stiffness. US President Joe Biden’s assent and signing of the bill suspending the federal debt ceiling will trigger new debt issuance. Already, observers expect the Treasury Department to sell $1 trillion worth of debt. On Saturday, President Biden officially signed the bill, which removed the US debt ceiling until Jan 1, 2025. Biden’s signature followed a relatively...

IMF director Kristalina Georgieva highlighted the stability of lending while urging the US Federal Reserve to consider further actions in response to an uncertain economic climate. In a recent interview with CNBC, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), said that lending remains strong despite the uncertain economic environment affecting banks. Georgieva’s remarks come as a reassuring voice amid concerns over the stability of lending in the...

Payrolls rose 339,000 in May, exceeding expectations and indicating a resilient labor market. The US economy continued to generate employment in May, despite macroeconomic challenges. Nonfarm payrolls increased to 339,000, significantly surpassing Dow Jones’ expectations of 190,000, as a result, May marked the twenty-ninth consecutive month of positive job growth in the country. According to the US Bureau of Labor Statistics, although the unemployment rate rose to 3.7% compared to the...

The debt ceiling bill’s approval provided even another reason for the positive rally in stock futures. In an exciting development, US stock futures have continued to soar as traders make meaning of the highly anticipated May jobs report and celebrated the passing of a debt ceiling bill by United States lawmakers. According to reports, futures on the Dow Jones Industrial Average (INDEXDJX: .DJI) rose by 180 points or 0.5%. Similarly, futures connected to both the S&P 500 (INDEXSP:...

The Asia-Pacific markets displayed a positive trend, with gains observed in South Korea, Japan, mainland China, and Australia. The Hong Kong stock market featuring indices like the Hang Seng Index (INDEXHANGSENG: HSI) experienced a notable bullish surge in its recent trading session, as investors eagerly await the US May jobs report. The Hang Seng Index finished 4.02% higher at 18,949.94, creating significant market excitement and investor optimism. According to reports, the consumer...

Stocks in Europe and Asia have risen in response to the debt ceiling increase approved by lawmakers in the US. Stocks in Europe opened higher today after the US Senate approved a bill to suspend the government’s debt ceiling. Following a 63-36 vote, US lawmakers agreed to raise the debt ceiling to prevent the country’s first-ever debt default. Congress has now sent the approval to President Joe Biden for assent. As of 9:30 am London time this morning, the STOXX Europe 600 climbed 0.7%...

Macy’s noted that Nike will return to its stores, starting from October this year. Macy’s Inc (NYSE: M), an American conglomerate holding company that engages in consumer goods, released its first-quarter earnings results on June 01. According to the announcement, Macy’s reported net sales of $4.98 billion during the first three months of the year (Q1 2023), which represented a decline of approximately 7 percent YoY basis. However, analysts surveyed by REFINITIV expected the company to...