By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Wall Street and world stocks may have shrugged off a spike up in long-term U.S. bond yields on Monday, but investors in Asia are likely to be in more cautious mood on Tuesday as they…
By Erwin Seba HOUSTON (Reuters) -Oil prices settled down 1% on Monday, after six straight weekly gains, as investors braced for weaker demand from China and the United States, the world’s two biggest economies. Brent crude settled 90 cents, or 1.04% lower, at $85.34 a barrel. U.S. West Texas Intermediate crude settled down 88 cents,…
NEW YORK (Reuters) – Equity hedge funds ended July with gains of 7.83% so far this year, helped by technology, financials and energy stocks, data provider HFR said on Monday. Equity strategies are leading the industry’s gains in 2023, with a 2.03% last month. Still, they lag the benchmark index S&P 500, which surged 20.65%…
By Jaiveer Shekhawat and Hannah Lang (Reuters) -Payments giant PayPal said on Monday it has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. PayPal’s announcement, which lifted its shares 2.66% on Monday, reflects a show of confidence in the troubled cryptocurrency industry that…
WASHINGTON (Reuters) – U.S. President Joe Biden signed legislation on Monday implementing the U.S. and Taiwan’s “21st Century” trade initiative and issued a statement saying certain sections of the law “raise constitutional concerns.” Biden said he would treat those sections, which require transmission of trade deal drafts to Congress, as non-binding if they “impermissibly infringe…
By Herbert Lash NEW YORK (Reuters) -A gauge of global equities rose and the dollar edged higher on Monday, reversing downward moves after a mixed U.S. jobs report last week, as investors await U.S. and Chinese inflation data that could test the stock market’s recovery this year. The dollar recovered from a one-week low on…
By Siddharth Cavale and Ananya Mariam Rajesh NEW YORK (Reuters) – Amazon’s strong quarterly results are one more sign that Americans are still shopping, despite months of ominous economic indicators, and could be a positive signal for Walmart and Target, who report next week. The e-commerce giant reported a 4.2% jump in sales on Amazon.com…
By Jonathan Stempel (Reuters) -Berkshire Hathaway’s stock price set a record high on Monday, rising 3.4% after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time. In its second-quarter earnings report on Saturday, Berkshire said rising interest rates boosted profit from fixed-income investments, including a…
By Tom Polansek and Granth Vanaik (Reuters) -Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products. Shares closed down about 4% after earlier falling nearly 10% as the company said it is evaluating all operations…
(Reuters) – Paramount Global said on Monday it was selling Simon & Schuster to KKR & Co for $1.62 billion in an all-cash deal, marking the end of a years-long attempt to sell the book publisher. (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shilpi Majumdar)
