19 minutes ago
European stock markets rise ahead of ECB decision
European stock markets opened higher on Thursday as traders anticipated the European Central Bank’s first interest rate cut since September 2019.
The pan-European Stoxx 600 index was up 0.6% at the open, with all major bourses and most sectors posting positive results.
Britain’s FTSE index is expected to open 0.1% higher at 8,258, Germany’s DAX is expected to rise 0.5% to 18,642, France’s CAC 40 is expected to rise 0.4% to 8,037 and Italy’s FTSE MIB is expected to open 0.4% higher at 34,657.
4 hours ago
Australian exports fell 2.5% in April to the lowest level since December 2021
Australian exports down 2.5% year-on-year Australia’s merchandise exports in April were A$43.32 billion (US$28.91 billion), the lowest level since 2021.
The Australian Bureau of Statistics said the fall was driven by metal ores and minerals, whose imports into Australia fell 7.2% from a year earlier.
The fall in imports helped the country’s trade surplus jump to A$6.55 billion in April, above a revised A$4.84 billion and above a Reuters forecast of a A$5.4 billion surplus.
Lim Hui Jie
5 hours ago
Foxconn raises second-quarter outlook after May revenue surge, shares rise 2.6%
Multinational Electronics Contract Manufacturing Company Foxconn reported a 22% increase in revenue compared to the previous year. In May.
The company reported revenue of NT$550.16 billion, its highest ever for the month of May.
Foxconn also said that while the second quarter was traditionally an “off-peak” season, demand from its AI servers was higher than expected, so “our second quarter outlook is currently expected to be stronger than expected.”
Shares of Foxconn, which trades in Taiwan as Hon Hai Precision Industry Co. Ltd., rose 2.56 percent on Thursday.
Lim Hui Jie
6 hours ago
SoftBank Group sustains gains of more than 5% after activist investor Elliott calls for $15 billion in share buybacks
Shares in Japanese investment firm SoftBank Group surged more than 5% on Thursday, breaking a 4.6% gain the previous day.
Activist investor Elliott Management is seeking to restructure its stake in SoftBank by more than $2 billion and buy back $15 billion of its own stock.
Meanwhile, SoftBank-backed healthcare technology company Tempus AI is aiming to raise its valuation to $6.1 billion. US IPOAccording to a filing with the SEC.
— Lim Hui Jie and Rohan Goswami
6 hours ago
Nvidia is on the rise: When should we decide to take our chips off the table?
Big tech companies, including artificial intelligence darling Nvidia, are driving the rally, and its strong performance is raising questions about whether it’s time to sell some of your holdings.
But rebalancing your portfolio involves more than simply selling positions that have skyrocketed in value, says Blair Duquesnay, a certified financial planner and investment adviser at Ritholtz Wealth Management in New Orleans.
See the chart…
Nvidia’s financial results for 2024
Instead, you can undistort your portfolio by cutting some of your winning positions and reallocating the gains to other asset classes.
Let’s start here.
—Darla Mercado
6 hours ago
Stocks that moved the most in extended trading
A Lululemon sign is seen at a shopping mall in San Diego, California on November 23, 2022.
Mike Blake | Reuters
Some stocks are showing notable moves in long-term trading
Lululemon Athletica — The athleisure company reported first-quarter results that beat Wall Street expectations for sales and profit, sending its shares up about 9%.
Five Below — Shares fell 15% after the discount retailer issued a disappointing outlook for second-quarter earnings.
See the complete list here.
—Darla Mercado, Samantha Sabin
9 hours ago
Stock futures little changed
Equity futures opened little changed Wednesday evening.
S&P 500 futures were flat, while Nasdaq 100 futures rose 0.05%. Dow Jones Industrial Average futures fell 10 points.
Samantha Sabin
