Tag: Markets

Nasdaq Ends Down as Investors Eye Black Friday Sales, China Infections

November 26, 2022
black fridayBusiness & MarketseconomyinvestorsMarketsNASDAQstocksUSUS News
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The Nasdaq closed lower on Friday with pressure from Apple Inc in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. Apple fell 2.0 percent on news of reduced iPhone shipments from a Foxconn plant in China in November as production was hit by COVID-related…

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Asian Investment Bolsters US Manufacturing Revival

November 25, 2022
5-nanometerArizonabatteryBusiness & MarketsBusiness ColumnistsChinaChina Business & EconomychipsMarketsTaiwan Semiconductor Manufacturing Company (TSMC)US-China relations
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News Analysis A Taiwanese chipmaking giant is doubling down on a sprawling factory it’s building north of Phoenix, adding to a wave of Asian investment that is boosting employment in the resurgent U.S. manufacturing sector. Taiwan Semiconductor Manufacturing Company (TSMC), Apple’s exclusive chip supplier, aims to make silicon chips using its advanced 5-nanometer production process…

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German GDP Growth Raises Hopes of Less Severe Recession

November 25, 2022
Business & MarketseconomyenergyEuropeGDPGermanyinflationMarketsrecessionWorld
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BERLIN—The German economy grew slightly more in the third quarter than suggested by preliminary figures on the back of consumer spending, adding to signs that a coming recession will not hit as hard as initially feared, data showed on Friday. Europe’s largest economy expanded by 0.4 percent quarter on quarter and by 1.3 percent on…

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Wall Street Mixed at Open With Black Friday Sales in Focus

November 25, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes were mixed at the open on Friday, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year. The Dow Jones Industrial Average rose 19.0 points, or 0.06 percent, at the open to 34213.04. The…

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Dollar Hovers Near 3-Month Low Amid Bets Fed Will Slow Hikes

November 25, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The U.S. dollar edged up on Friday but stayed near a three-month low and on track for a weekly loss as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors. The euro was set for weekly gains with the GfK institute survey bringing some relief, showing on Friday…

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Oil Prices Rise, but Chinese Demand Worries Linger

November 25, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures were up $1.29, or 1.5 percent, to trade at $86.63 a barrel at 1024 GMT. U.S. West Texas Intermediate (WTI) crude futures were up…

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Global Shares Mixed as Investors Eye China Virus Crisis

November 25, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mixed Friday as worries deepened about the regional economy and Japan reported higher-than-expected inflation. France’s CAC 40 was little changed, inching down less than 0.1 percent to 6,704.00. Germany’s DAX slipped 0.1 percent to 14,524.48. Britain’s FTSE 100 gained 0.1 percent to 7,473.46. The future for the S&P 500 gained 0.2 percent…

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What Happens If China’s Economy Collapses?

November 25, 2022
Business & MarketsChinaChina Business & EconomyChina economyChinese RegimeeconomyMarketsUncategorized
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China, home to a population of over 1.4 billion, is the world’s second-largest economy, with the nation experiencing an average annual growth rate of 6.7 percent since 2012, driven in part by its dominance in manufacturing and its cheap exports of goods. As of 2022, China had a GDP of $17.7 trillion, just behind the United States with…

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Elon Musk Denies Claims Disgraced Crypto Boss Sam Bankman-Fried Holds Twitter Shares

November 25, 2022
Business & MarketsCompaniescryptocurrencyeconomyElon MuskMarketsMedia & Big TechSam Bankman-FriedSocial MediastocksTechTwitterUSUS News
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Twitter’s new owner Elon Musk has disputed a report that the former CEO of failed cryptocurrency exchange FTX, Sam Bankman-Fried, owns millions of Twitter shares. Taking to Twitter on Wednesday, Musk shared a number of posts addressing the report, which was shared on the platform by former New York Times reporter and Editor-in-Chief of news site Semafor, Ben Smith….

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FTX Founder Sam Bankman-Fried to Speak at New York Times Event

November 24, 2022
Business & MarketsCompaniescryptocurrencyeconomyFTXMarketsMedia & Big TechSam Bankman-FriedUSUS News
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FTX founder Sam Bankman-Fried noted on Twitter on Nov. 23 that he would speak at an upcoming New York Times summit. “I’ll be speaking with @andrewrsorkin at the @dealbook summit next Wednesday (11/30),” Bankman-Fried posted on Twitter. Andrew Ross Sorkin, the founder and editor-at-large of DealBook at The New York Times, also confirmed that he…

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