15 minutes ago
Stock trading opens in the red on Tuesday
34 minutes ago
Housing data shows walk-in permits and construction starts.
Housing starts and construction permits accelerated faster than expected in February, The Department of Commerce reported Tuesday.
The number of private construction starts for the month was a seasonally adjusted 1,521,000, an increase of 10.7% from January and 5.9% from the same month last year. Economists surveyed by Dow Jones were looking for 1.43 million.
As for permits, the total reached 1,518,000, an increase of 1.9% from February and 2.4% year-over-year. The consensus estimate was 1.49 million.
The number of completed housing units in the same month was 1.73 million, an increase of 19.7% compared to January 2023 and an increase of 9.6% compared to the same month.
—Jeff Cox
1 hour ago
Super Micro Computer, Coinbase introduces pioneers other than Nvidia
While Wall Street was waiting to see how Nvidia stock would react to the announcement of its new AI chip, other stocks were also seeing big moves in premarket trading. Here are some moves to keep an eye on.
- Advanced Micro Devices – The chipmaker fell more than 3% before the bell after rival Nvidia unveiled a new generation of AI chips at a developer conference in San Jose, California.
- Coinbase, Riot Platforms — Cryptocurrency stocks tumbled after Bitcoin tumbled in Tuesday night trading. Shares of Coinbase and Riot Platforms each fell about 5%.
- Supermicrocomputer — The tech stock fell more than 10% after a filing showed it was issuing 2 million new shares. Goldman Sachs is the underwriter for this deal.
Click here for information about other moving companies.
— Jesse Pound, Samantha Subin
2 hours ago
Unilever pops after spin-off announcement
Unilever’s U.S. shares rose more than 2% in premarket trading after the consumer products maker announced a spinoff and restructuring of its ice cream business.
The company announced Tuesday that it is separating its ice cream business, which includes the Ben & Jerry’s and Magnum brands. Unilever said the move was taken as part of a corporate restructuring that would lead to around 7,500 job cuts.
Unilever’s stock price has remained roughly flat since the beginning of the year.
— Alex Harring, Karen Gilchrist
9 hours ago
After the end of the Bank of Japan’s negative interest rate policy, transactions at Japanese banks become unstable.
9 hours ago
Bank of Japan raises interest rates for the first time in 17 years, abolishes short-term interest rate control policy
Japan’s central bank on Tuesday raised interest rates for the first time since 2007 and also scrapped its yield control curve policy. Japan has introduced negative interest rates since 2016.
According to a statement, the Bank of Japan raised short-term interest rates from -0.1% to around 0-0.1%.
Japan’s central bank also announced it would abolish its 10-year government bond yield curve control policy, which targets long-term interest rates by buying and selling bonds as needed.
The Nikkei Stock Average fell 0.7% in volatile trading, but the overall TOPIX was flat. The Japanese yen depreciated against the dollar, ending at 149.60 yen.
— Shreyashi Sanyal
10 hours ago
Fidelity International to cut 16% of workforce in China, Longi to lay off 5% of employees: Reuters
Fund manager Fidelity International plans to lay off 20 people in its main China business. Reuters This was reported based on a person involved.
This comes amid a downturn in the Chinese market and the company’s global downsizing, according to the report. Fidelity’s China funds division currently has about 120 employees.
Separately, China Longhi, a major solar product manufacturer, said, “In response to market changes, [to] Improve organizational efficiency. ” Reuters report.
Longhi also disputed Monday’s Bloomberg report that the company plans to cut nearly a third of its workforce.
— Lim Huijie
15 hours ago
Nvidia CEO unveils new AI chips and software at inaugural conference
Nvidia Chief Executive Jensen Fnag on Monday announced the company’s latest artificial intelligence chip and software, Blackwell, as the company strengthens its dominance in the broader AI market.
“Hopper is great, but it needs a bigger GPU,” Huang said Monday, referring to the company’s current Hopper chips.
— Brian Evans
15 hours ago
Stock futures little changed on Monday
Stock futures were little changed Monday night after regular trading that saw a rally in the S&P 500 and broader technology stocks.
Futures tracking the broader market index fell 0.03%, while Nasdaq 100 futures fell 0.1%. Dow Jones Industrial Average futures rose 16 points, or 0.06%.
— Brian Evans
