China new home prices fall for 11th straight month in May
China’s new home prices fell for the eleventh straight month in May, official data showed on Monday, as the property sector struggles to find a bottom despite government efforts to rein in oversupply and support debt-laden developers. Prices were down 0.7% month-on-month in May after a 0.6% dip in April, according to Reuters…
US govt returns $156 million worth of 1MDB funds to Malaysia, state media says
The U.S. government has returned about $156 million to Malaysia in recovered assets linked to scandal-hit state fund 1Malaysia Development Berhad (1MDB), Malaysian state news agency Bernama reported. The recovered funds were being returned following the U.S. Justice Department’s approval of a remission petition submitted by the Malaysian government, Bernama reported late on…
Fed keeps rates steady, but sees just one cut for this year in hawkish surprise
The Federal Reserve kept interest rates unchanged on Wednesday, but in a hawkish surprise the central bank now sees just one rate cut for the year, as inflation is expected to trend higher than previously expected. The Federal Open Market Committee, the FOMC, kept its benchmark ratein a range of 5.25% to 5.5%.…
US stock futures steady after AI rally; Fed rate decision, CPI on tap
U.S. stock index futures steadied in evening deals on Tuesday after an artificial intelligence-fueled rally put Wall Street at new highs, with focus turning to the Federal Reserve and upcoming inflation data. Hype over AI remained a key point of support for markets after Apple Inc (NASDAQ:AAPL) announced a partnership with ChatGPT maker…
Analysis-Apple’s AI push could reinvigorate iPhone sales as customers look to upgrade
Apple (NASDAQ:AAPL)’s developer conference on Monday was about more than infusing its software with the latest artificial intelligence technology, including from ChatGPT. It was also about selling more iPhones. Facing choppy consumer spending and resurgent tech rivals, Apple has looked to AI as a way to invigorate its loyal fan base of more…
US stock futures steady with nonfarm payrolls in focus, Gamestop surges
U.S. stock index futures moved little in evening deals on Thursday, tracking a muted session on Wall Street as investors hunkered down before key payrolls data that is likely to factor into interest rates. Meme stock GameStop Corp (NYSE:GME) was an exception, extending strong gains into aftermarket trade after influencer Keith Gill said…
US futures inch higher as rate cut bets, Nvidia rally bring record highs
U.S. stock index futures rose slightly in evening deals on Wednesday, extending gains after persistent bets on interest rate cuts and a rally in heavyweight Nvidia put Wall Street at record highs. A series of weak labor market readings drummed up hopes that the Federal Reserve will begin cutting rates by September. But…
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…
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