Jakub Porzycki | Nurphoto | Getty Images The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group. Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that … Read more
An aerial photo is showing containers at Beilun Port in Ningbo, Zhejiang province, China, on April 11, 2024. Nurphoto | Nurphoto | Getty Images Asia-Pacific markets largely fell on Tuesday, despite the Dow Jones Industrial Average on Wall Street reaching new highs. The blue-chip index closed up 65.44 points, or 0.16%, at 41,240.52. Traders in … Read more
An Exxon Mobil gas station in Washington, D.C., on Nov. 28, 2023. Al Drago | Bloomberg | Getty Images Oil and natural gas will still make up more than half of the world’s energy mix in 2050 despite efforts to transition away from fossil fuels, according to a forecast published by Exxon Mobil on Monday. … Read more
Crude oil futures gained more than 3% on Monday amid reports of a production halt in Libya and after Israel and Hezbollah traded a barrage of strikes across the Lebanon border. Libya’s eastern government in Benghazi said Monday that oil production and exports in the North African country would shut down, amid a dispute with … Read more
UBS CEO Sergio Ermotti on Tuesday, May 7, 2024. Bloomberg | Bloomberg | Getty Images After an intense weekend of negotiations in March 2023, Swiss banking giant UBS agreed to buy its embattled rival Credit Suisse. Despite the attractive purchase price of $3.2 billion, investors were concerned about whether UBS would manage to turn around … Read more
The Euronext NV stock exchange in Paris. Nathan Laine | Bloomberg | Getty Images LONDON — European stock markets opened in mixed territory on Monday, as traders digested rising tensions in the Middle East following strikes by both Israel and Hezbollah over the weekend. The German Dax fell 0.18% at the open, while Italy’s FTSE … Read more
On Aug. 5, we awoke to a market upside-down. Japanese stocks, so strong this year, had crashed, literally crashed, down 12%, a hideous decline, worst since 1987. Oddly, there was nothing wrong. The yen had strengthened, forcing investors who had borrowed yen to buy our stocks and others around the world to put up more … Read more
A screen displays the Nikkei 225 Stock Average figure on the trading floor at the Nomura Securities Co. headquarters in Tokyo, Japan, on Jan. 11, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets were mixed on Monday amid escalating tensions in the Middle East with Israel and Hezbollah trading strikes, while investors assessed dovish … Read more
Wall Street takes back-to-back weekly gains and an overbought market into an important week featuring Nvidia earnings and the latest reading on the Federal Reserve’s favorite inflation gauge. Fed Chairman Jerome Powell on Friday gave the speech from Jackson Hole that investors wanted to hear. The S & P 500 and Nasdaq bounced back from … Read more
People are increasingly skipping out on trips to Disney’s iconic theme parks, but that’s not holding back the company’s plans of enormous spending to expand the business. Disney offered encouraging updates earlier this month on what’s ahead at its parks and on its cruises as part of its 10-year, $60-billion investment in its experiences businesses. … Read more
