Breaking News: Markets

RBA rate decision, services PMI, currencies, oil

RBA rate decision, services PMI, currencies, oil

SINGAPORE — Shares in the Asia-Pacific mostly rose on Tuesday as the Reserve Bank of Australia hiked interest rates in line with expectations. South Korea’s Kospi increased 1.8% to close at 2,341.78, and the Kosdaq advanced 3.9% to 750.95. SK Hynix jumped 3.82% while Naver rose 3.4%. The Nikkei 225 in Japan gained about 1% …

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To understand this vile market, study the dot-com crash of 2000

Forty years is an awfully long time. Yet that’s how much time has passed since we had an abomination like this first half of the year. Almost everything went down. Your stocks went down. Your bonds went down. Your house went down. Your crypto went down. The only thing that didn’t go down were the …

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Stock futures are flat after another losing week on Wall Street

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures were flat in overnight trading after the major averages finished another losing week. Stock futures tied to the Dow Jones Industrial Average slipped 30 points or 0.11%. S&P 500 futures dipped 0.08%, and Nasdaq 100 futures fell 0.04%. The moves come …

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Asia-Pacific markets are mixed as investors search for direction

SINGAPORE — Australian stocks rose more than 1% while Hong Kong and South Korean markets were lower on Monday ahead of Australia and Malaysia central bank decisions this week. The S&P/ASX 200 advanced 1.26%, with banking and retail stocks in the green. Japan and mainland China markets were also higher. The Nikkei 225 in Japan …

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FTX signs a deal giving it the option to buy crypto lender BlockFi

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images FTX has signed a deal giving it the option to buy crypto lending company BlockFi. The agreement gives FTX the ability to buy BlockFi at a maximum price …

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Micron, Kohl’s, Meta Platforms and more

Check out the companies making headlines in midday trading. Micron Technology – Shares of the chipmaker fell about 6% after the company issued disappointing fiscal fourth-quarter guidance and said weakening consumer demand will hurt smartphone sales. The warning pulled down other chip stocks, which were among the top decliners in the S&P 500. Western Digital …

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Atlanta Fed GDP tracker shows the US economy is likely in a recession

Federal Reserve Chair Jerome Powell reacts as he tests before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in Washington, DC, US, June 22, 2022. Elizabeth Frantz | Reuters A Federal Reserve tracker of economic growth is pointing to an increased chance …

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Kohl’s, Micron, Apple and more

Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG). Kohl’s said the deteriorating retail and financial environment presented significant obstacles to concluding a deal. …

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Constellation falls after earnings beat, gives investors a chance to buy

Constellation Brands (STZ) reported solid fiscal first-quarter earnings on Thursday before the opening bell. The wine, beer and liquor company reported net sales of $2.36 billion, up 17% year over year and above Wall Street expectations of $2.16 billion. On the bottom line, the company said it had adjusted earnings of $2.66 per share, an …

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Asia markets turn negative; Caixin survey shows China’s factory activity expanded

SINGAPORE — Asia-Pacific markets reversed gains and fell on the first day of the new quarter as investors digested positive factory activity data from a private survey in China. The Nikkei 225 in Japan gave up earlier gains to lose 0.72%, and the Topix declined 0.52%. Sentiment at Japan’s large manufacturers worsened in the April-to-June …

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