China services activity grows more than expected in May- Caixin PMI
China’s services sector grew more than expected in May, private purchasing managers index data showed on Wednesday, as persistent stimulus measures from Beijing benefited some facets of the economy. The Caixin services PMI rose to 54 in May, more than expectations of 52.6 and higher than the 52.5 reading in April. Increased new business- on…
GameStop puts squeeze on short sellers, but one bearish analyst is back for more
GameStop Corp (NYSE:GME) jumped 78% Monday to put the squeeze on short sellers once more, but one bearish analyst isn’t going away quietly, making a new bet that the video-game retailer’s stock will soon run out of steam. Andrew Left, the founder of Citron Research, said he placed a new short position on the…
Oil prices rise after OPEC+ extends production cuts; Gaza ceasefire in focus
Oil prices rose in Asian trade on Monday after the OPEC+ extended its current run of production cuts into 2025, although speculation over a ceasefire in Gaza kept gains limited. Lingering concerns over sluggish demand also weighed following softer-than-expected purchasing managers index data from top oil importer China, while fears of high for…
Is Trump going to prison after guilty verdict?
Donald Trump was found guilty in a hush money trial by a New York court on Thursday, with a judge now set to determine whether the former president will be imprisoned over the conviction. Trump was found guilty by the jury on 34 felony counts for falsifying business records and covering up a…
Oil prices flat as rate, inflation jitters offset big inventory draw
Oil prices steadied in Asian trade on Thursday as optimism over a bigger-than-expected draw in U.S. inventories was offset by caution ahead of key economic data that is likely to factor into interest rates. Strength in the dollar also pressured crude, as traders remained largely biased towards the greenback before more cues on…
Asian stocks fall on inflation jitters, China buoyed by more stimulus
Most Asian stocks fell on Wednesday, weighed by persistent concerns that sticky inflation will push major central banks into keeping interest rates high for longer. Chinese markets were somewhat of an exception, advancing slightly after the government announced more measures to support the beleaguered property sector. Regional stocks took middling overnight cues from…
Why these analysts say it’s “hard to get too bearish” on the S&P 500
It is hard to be “too bearish” on the benchmark S&P 500 index despite some potential warning signs flashing in the consumer sector, according to analysts at BTIG. In a note to clients, the analysts said that investors could be facing some “yellow lights” from “recently absolute weakness” in businesses like auto-parts suppliers,…
European automakers need time, not tariffs, to fend off China competition
Europe’s car giants won’t have much time to restructure their operations and product lines to compete with ascendant Chinese automakers, and stiffer tariffs will do little to protect the status quo, industry executives said during a Reuters event. European trade regulators in Brussels have said they could levy new tariffs on Chinese electric…
Oil prices fall amid US rate jitters, surprise inventory build
Oil prices fell in Asian trade on Thursday, pressured by persistent concerns over high for longer U.S. interest rates, while an unexpected build in inventories also raised concerns over less tight markets. Traders steadily priced out a risk premium from oil prices this week after the death of Iran’s President appeared to have…
US stock futures tread water; Nvidia anticipation puts Nasdaq at record high
U.S. stock index futures moved little in evening deals on Monday as momentum on Wall Street stalled after buying into technology stocks, ahead of earnings from market darling Nvidia, put the Nasdaq at record highs. Uncertainty over interest rates also remained in play as warnings on sticky inflation from Federal Reserve officials continued…
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