By Lewis Krauskopf NEW YORK (Reuters) – A bruising selloff in U.S. stocks is putting a sharper focus on valuations of the tech names such as Nvidia and Microsoft that have driven markets higher for most of this year. Despite a recent pullback, the S&P 500 tech sector is trading at 29.5 times 12-month earnings…
By Hari Kishan BENGALURU (Reuters) – Optimism about global growth prospects this year and next is building among hundreds of economists polled by Reuters, with risks still tilted toward higher inflation even as they cling on to their forecasts for interest rate cuts. While most major central banks were successful last year in taming sky-rocketing…
(Reuters) -McDonald’s reported a surprise drop in quarterly global comparable sales on Monday, as the burger giant struggled to hold back budget-strapped customers from opting for cheaper meals at home. Global sales fell 1% in the second quarter, its first decline in 13 quarters, compared with analysts’ average estimate of a 0.53% rise, according to…
(Reuters) -Abbott Laboratories’ shares fell nearly 7% premarket, while British peer Reckitt Benckiser slumped 9% on Monday, after the U.S. healthcare firm was ordered to pay $495 million in damages related to its formula for premature infants. A jury late on Friday found Abbott’s specialized formula for premature infants caused an Illinois girl to develop…