Tag: Economies

LVMH Shares Flat After Its Third Quarter Revenues

October 13, 2021
Business & EconomyCompaniesEconomiesEuropeInternationalLVMHMarketsrevenuesSharesWorld
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PARIS—Shares in LVMH were flat in early trading on Wednesday after the French luxury giant posted a strong rise in sales in its fashion and leather goods division in the third quarter. LVMH, whose luxury products span Moët & Chandon champagne and Bulgari timepieces, said on Tuesday the popularity of its star labels Louis Vuitton…

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Cryptocurrencies Post Eight Straight Weeks of Inflows: CoinShares Data

October 13, 2021
Business & EconomyCoinSharesCompaniescryptocurrenciesdataEconomiesInflowsInvestmentMarkets
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NEW YORK—Cryptocurrency products and funds attracted $226.2 million in investments last week, marking their eighth straight week of inflows, a report from digital asset manager CoinShares showed on Tuesday. Over an eight-week run, total crypto product inflows hit $638 million, with a year-to-date total of $6.3 billion. Bitcoin, as expected, led the way, nabbing $225…

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BlackRock Quarterly Profit Beats Estimates as Rise in Assets Boosts Fee Income

October 13, 2021
assetsBlackRockBoostsBusiness & EconomyCompaniesEconomieseconomyEstimatesincomeLocal NewsNew YorkNY NewsprofitQuarterlyRegional-Local NewsUSUS News
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BlackRock Inc., the world’s largest money manager beat third-quarter profit estimates as an improving economy helped boost its assets under management, driving up fee income. Asset managers have benefited from rising global financial markets in recent quarters as investors put money to work, making the most of the post-pandemic economic reopening, driven by progress on…

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JPMorgan Smashes Profit Estimates on M&A Boom, Wealth Management Strength

October 13, 2021
BoomBusiness & EconomyCompaniesEconomieseconomyEstimatesJPMorganMAmanagementprofitUSUS Newswealth
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JPMorgan Chase & Co. reported a bigger-than-expected 24 percent jump in third-quarter profit on Wednesday, boosted by a global dealmaking boom and strength in its wealth management arm. The bank, whose fortunes reflect the health of the U.S. economy, said robust M&A activity offset a slowdown in trading. Its consumer bank also reported a strong…

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Tech Stocks Lift Nasdaq, Banks Weigh on S&P 500, Dow

October 13, 2021
Business & EconomyCompaniesDowEconomieseconomyinflationInvestmentLocal NewsMarket WatchMarketsMedia & Big TechNASDAQNew YorkNY NewsRegional-Local NewsstocksTechUSUS News
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The Nasdaq rose on Wednesday as technology stocks returned as market favorites amid concerns about rising inflation, while banking stocks slipped despite strong quarterly results from JPMorgan. Technology and communication services were among the few gainers among the 11 major S&P sectors. Mega-caps growth names including Facebook Inc., Amazon.com Inc., Google-parent Alphabet Microsoft Corp., and…

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Futures Rise Ahead of JPMorgan Results, Inflation Data

October 13, 2021
Business & EconomyCompaniesdataEconomieseconomyfuturesinflationInvestmentJPMorganLocal NewsMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsUSUS News
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U.S. stock index futures edged higher on Wednesday ahead of quarterly results from JPMorgan which will kick off the corporate earnings season, with investors awaiting inflation data for clues on the future path of monetary policy. Mega-caps growth names including Facebook Inc., Amazon.com Inc., Google-parent Alphabet Microsoft Corp., and Tesla rose more than 0.5 percent…

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European Stocks Reverse Losses on Strong SAP, LVMH Results

October 13, 2021
Asia & PacificBusiness & EconomyCompaniesEconomieseconomyEuropeEuropeanInvestmentLVMHMarket WatchMarketsMedia & Big TechreverseSAPstocksUKUSUS NewsWorld
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European stocks recouped early losses on Wednesday as upbeat earnings forecast from German software group SAP and robust quarterly sales for French luxury goods maker LVMH helped soothe worries about inflation. By 0824 GMT, the pan-European STOXX 600 index was up 0.2 percent after falling as much as 0.4 percent in opening trade. The German…

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Dollar Near One-Year High Ahead of Fed Meeting Minutes

October 13, 2021
Asia & PacificAustraliaBusiness & EconomyChinaChina Business & EconomyDollarEconomieseconomyEuropeFedHighInternationalMarketsmeetingMinutesUKUSUS NewsWorld
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LONDON—The dollar held near a one-year high versus major peers on Wednesday, amid rising expectations the Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022. Three Fed policymakers said on Tuesday that the U.S. economy has healed enough to begin to scale back the central bank’s…

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Oil Falls on Concerns of Faltering Economic Growth to Hit Demand

October 13, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompanieseconomicEconomieseconomyEuropeFallgrowthIndiaInternationalLocal NewsMarketsMiddle EastOilRegional NewsRegional-Local NewsTexasUKUSUS NewsWorld
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LONDON—Oil prices edged down on Wednesday on concerns that oil demand growth will fall as major economies suffer through inflation and supply chain issues though surging prices for power generation fuel such as coal and natural gas limited losses. Brent crude futures fell 24 cents, or 0.2 percent, to $83.18 a barrel at 0830 GMT….

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World Shares Mixed as Investors Await US Inflation Figures

October 13, 2021
Asia & PacificAustraliaBusiness & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyEuropefiguresHK BusinessHong KonginflationInternationalInvestmentinvestorsLocal NewsMarket WatchMarketsNew YorkNY NewsRegional-Local NewsSharesUKUSUS NewsWorld
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World shares were mixed on Wednesday as investors awaited the release of U.S. inflation data and upcoming corporate earnings. Stocks fell in Paris, London, Tokyo, and Sydney but rose in Shanghai and Frankfurt. Prices for oil and other energy have surged recently along with costs of other commodities. Shortages of semiconductors have meanwhile slowed output…

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