2 hours ago
India’s Paytm confirms resignation of banking director
4 hours ago
Kiwi dollar falls after comments from Reserve Bank of New Zealand governor
The New Zealand dollar fell 0.3% to $0.6130, slowing from the previous week’s rise of about 1.4%.
Reserve Bank of New Zealand Governor Adrian Orr said the country’s current inflation rate of 4.7% remained too high. Speaking to a parliamentary committee, Orr said the central bank aims to reduce inflation to around 2%.
The Kiwi dollar has strengthened on expectations that the RBNZ may raise interest rates again in a bid to curb inflation.
According to LSEG data, markets are pricing in a 71% chance that the central bank will leave rates unchanged at its Feb. 28 meeting and a 52% chance that it will raise rates at its May meeting.
7 hours ago
Australian biotech company CSL slides after trial failure of cardiovascular drug
CSL’s share price fell 5% after the Australian biotech company said: Cardiovascular drug CSL112 The Phase 3 trial did not meet its primary efficacy endpoint.
CSL said the drug did not reduce the risk of serious cardiovascular events at 90 days compared to placebo. As a result, the company said it has “no plans to file any regulatory filings in the near term.”
CSL shares were the biggest loser on Australia’s benchmark S&P/ASX 200 index, falling to their lowest level in almost a month.
— Shreyashi Sanyal
9 hours ago
CNBC Pro: How to build a diversified bond portfolio with up to 6% yield from the pros.
9 hours ago
CNBC Pro: These global tech stocks are included in Citi’s “High Conviction” list. One was given an upside of almost 80%
Tech stocks have already performed well, and investors may be wondering if there’s more to come.
Investors looking for more upside in tech stocks should consider some of the tech stocks included in Citi’s list of top “high-conviction” stocks from markets in the U.S., Europe, Asia Pacific, and Latin America. You can do it too.
CNBC Pro subscribers can read more here.
— Tan Weizhen
Friday, February 9, 2024 4:12pm EST
S&P 500 closes above 5,000 for the first time
The S&P 500 index rose 0.57% to end at 5,026.61, the first time in history it closed above 5,000. The Nasdaq Composite Index rose 1.25% to close at 15,990.66, and the Dow Jones Industrial Average fell 54.64 points, or 0.14%, to close at 38,671.69.
The S&P rose 1.4% this week, the Nasdaq rose 2.3% and the Dow ended flat. All three major averages recorded their fifth straight winning week, marking their 14th positive week in 15 years.
— Samantha Subin
Friday, February 9, 2024 3:22 PM EST
NYCB insiders buy up distressed bank stock
Executives at New York Community Bancorp are betting their personal fortune on the bank’s stability. Seven company insiders bought NYCB stock this week, according to Verity Data.
These insider buying can also lead to increased confidence from outside investors.
NYCB stock rose more than 13% in afternoon trading, but the stock remains below $5 per share.
See chart…
NYCB stock rebounded on Friday.
Friday, February 9, 2024 3:04 PM EST
India, Japan, and Israel ETFs will outperform in 2024
See chart…
India, Japan, and Israel ETFs will outperform in 2024
