worldmarkets
Tesla reported its first-quarter (Q1) earnings results that significantly missed analysts’ expectations. However, the company’s shares jumped more than 10% in after-hours trading in the US as CEO Elon Musk indicated that the mass production for affordable EVs would possibly be launched sooner than expected. He also expressed optimism towards the energy storage expansion and the development of AI training for self-driving. Tesla posts the deepest revenue drop in over a decadeIn the first quarter, Tesla's revenue came in at $21.3 billion, falling short of the estimated $22.3 billion, marking a 9...
Euronews (English)
Reflecting Wall Street’s trajectory, European stock markets declined for the third consecutive week amid prevailing risk-off sentiment. The ongoing conflict in the Middle East and a hawkish stance from the Federal Reserve (Fed) continued to weigh on equity markets, prompting investors to seek haven assets such as gold. This week, soured sentiment may continue dominating the market as leading tech companies from Europe and the US prepare to report quarterly earnings. On the economic front, major global economies will unveil their flash manufacturing and services PMIs for April, providing insigh...
Euronews (English)
At the time of writing (13:17 CET), Germany's Dax was down 1.39% at 17,778.64 points, France's CAC 40 declined 1.29% to 7,944.92, while the UK's FTSE 100 was also in the red, falling 1.42% to 7,851.74 points. The data reflected a hesitant day of trading across the continent as market participants followed Middle East updates on any potential escalation between Israel and Iran. It comes after Iran unleashed a barrage of 300 aerial drones and missiles toward Israel in a retaliatory move. While Israeli defences, bolstered by support from the US, UK, and European allies, reportedly neutralised 99%...
Euronews (English)
Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with the profit of $50.5 million (around €46.7m) that the former president’s company reported for 2022, according to a company filing with securities regulators. Revenue for Trump Media came in at $4.1 million (around €3,7m) in 2023, the SEC filing shows, although that’s up from $1.5 million (around €1.3m) in 2022. After merging with a blank-check company called Digital World Acquisition Corp., Trump Media began trading on 26 March on the Nasdaq stock market in the US unde...
Euronews (English)
European stock markets extended their winning streak in March, marking the fifth consecutive month of gains and capping off a remarkable first quarter in 2024. EU inflation and US Job Data in focusThe Euro Stoxx 50 and the DAX maintained their momentum, reaching new record highs as investors anticipated potential rate cuts by the European Central Bank (ECB). The US stock markets have also wrapped up the month on a positive note as the surge in interest surrounding artificial intelligence (AI) contributed to the positive market sentiment. However, there is a debate emerging regarding whether th...
Euronews (English)
Dubbed "Dr. Copper" for its predictive ability to diagnose the health of the global economy, copper has become increasingly central to both industrial progress and the transition toward electrification and sustainability, thanks for its use in electric vehicles, wind, solar energy and power grids. With the world pivoting to a more environmentally friendly future, the dynamics of copper's supply and demand have led to a notable resurgence in its value. Since mid-February, the price of copper has ascended to its highest point in nearly a year, only to experience a slight retreat in recent sessio...
Euronews (English)
Last week, amid indications from major central banks hinting at the initiation of rate cuts, global stock markets, notably in Europe and the US, maintained a promising momentum which could lead them to a fifth consecutive month of gains in March. Getting ahead of its global peers, the Swiss National Bank (SNB) implemented a 25-basis point rate cut, marking the end of its tightening cycle since June 2022. Spontaneously, the US Fed and the Bank of England (BOE) both signalled they were edging toward ending their rate hike campaign later this year in response to diminishing inflationary pressures...
Euronews (English)
The Federal Reserve has laid down the groundwork for potential interest rate reductions later this year, signaling a shift from the protracted phase of restrictive monetary policy that has spanned over two years. In its March meeting, the Federal Open Market Committee (FOMC) chose to maintain rates steady at 5.25%-5.5%, aligning with investor expectations. Fed eyes three cuts in 2024, smoother path in 2025 and 2026The intrigue lies in the Fed's new economic projections, which hint at three rate cuts within the current year, with the mid-point of the fed funds rate expected to descend to 4.6% b...
Euronews (English)
Bitcoin’s price briefly topped $64,000 on Wednesday for the first time since 2021, pulling closer to its record of nearly $69,000 after rising more than 40% so far this year. It was trading at $63,385.00 early Thursday. Meanwhile, Coinbase gained 0.8% after rising more earlier in the day to continue its strong run as Bitcoin’s price keeps rallying. New exchange-traded funds (ETFs) that make investing in Bitcoin easier have raised interest in the cryptocurrency, with BlackRock’s iShares Bitcoin fund alone quickly growing to $7 billion in assets. Which yielded more in the last decade: Bitcoin or...
Euronews (English)
The NVIDIA-led tech rally has sent both the US and the European markets to their all-time highs, sparking concerns about the sustainability of the market rally and prompting some cautious indicators worth noting. Firstly, the Fear & Greed Index, which tracks stock market movements and determines if stocks are priced fairly, has surged into the Extreme Greed zone, suggesting the market might be overbought. Secondly, global government bond yields climbed significantly, implying central banks may not start interest rate cuts as soon as previously anticipated. European markets climb as tech stocks...
Euronews (English)
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