The S&P 500 closed at an all-time high on Friday as investors returned to buying equities in force following a short-lived market stumble to start the new year. This resurgence in investor confidence led to a significant rise in the broad market index, settling at 4,839.81. Surpassing both the prior record intraday and closing highs
World
In a surprising turn of events, tech companies, led by Apple, took the reins on Thursday and propelled the major averages into positive territory. The Dow Jones Industrial Average experienced a significant rebound, adding 201.94 points (0.54%) after its earlier 143.72-point loss. The day concluded with the 30-stock index reaching 37,468.61. The tech-heavy Nasdaq Composite
Asia-Pacific markets experienced a decline on Tuesday, with Japanese stocks putting a halt to their record-breaking rally since the beginning of the year. The Nikkei fell 0.72% in early trading, following the release of Japan’s corporate goods price index, which came in flat year-on-year. This was in contrast to the 0.30% fall that economists in
Austria’s central bank governor and member of the European Central Bank’s Governing Council, Robert Holzmann, has indicated that the ECB may not implement any interest rate cuts throughout the entirety of 2024. This news may come as a disappointment to market expectations, with some anticipating a rate cut as early as April. In an interview
In a recent development, London police have apprehended six pro-Palestine activists for their alleged plans to disrupt trading at the London Stock Exchange. The activists, all aged between their 20s and early 30s, were planning to lock themselves to the doors of the exchange as a means of protest against the ongoing Israel-Hamas war. The
China, the world’s second-largest economy, experienced a significant decline in its annual exports in 2023. This downturn was noteworthy as it marked the first time in seven years that exports had fallen. While December’s shipment numbers managed to surpass expectations, this positive performance was unable to offset the overall decline in exports. According to customs
The technology sector has been a favorite among investors in recent months, and investment bank Goldman Sachs is no exception. In a recent note, their analysts identified several opportunities in the Asian tech hardware industry that are worth considering. These opportunities are centered around various factors such as cyclical recovery, artificial intelligence, and geopolitical conditions,
When it comes to the electric vehicle (EV) industry, Tesla has long been the dominant player. However, recent data has shown that Tesla’s Chinese rival, BYD, is quickly gaining ground. In the fourth quarter of last year, BYD surpassed Tesla as the top EV maker globally, and it also outperformed Tesla in terms of production
The U.S. Securities and Exchange Commission (SEC) recently clarified that an announcement regarding the approval of bitcoin exchange-traded funds (ETFs) on social media was false. According to the SEC, their official Twitter account was compromised, and the unauthorized tweet regarding bitcoin ETFs did not originate from the commission or its staff. This incident caused a
In a major blow to aerospace giant Boeing, the Federal Aviation Administration (FAA) recently ordered a temporary grounding of dozens of Boeing 737 Max 9 aircraft. This directive, issued after a plane experienced a blowout incident during a flight, affects around 171 planes worldwide. The news has sent shockwaves through the industry, resulting in a