1 hour ago
Tesla stock rises as Model Y price rises
Tesla shares rose nearly 1% early after the company’s website showed that the price of its Model Y cars in the United States had increased by $1,000. The base model costs $44,990 and the long-range version costs $49,990.
Tesla has been under pressure from declining demand for electric vehicles, with its stock price down nearly 30% since the start of the year.
— Fred Imbert
7 hours ago
Gold prices soar to record high on expectations of Fed rate cut
Gold prices extended their gains on Monday, hitting a new record.
Expectations of lower interest rates in the US and the appeal of bullion as a safe haven fueled optimism.
Spot gold rose 1.32% to trade at $2,265.53 per ounce. U.S. gold futures rose more than 2% to trade at $2,286.39 an ounce.
“I think this is a very exciting moment for gold,” said Joseph Cavatoni, market strategist at the World Gold Council (WGC). “I think what’s really driving this situation is that a lot of market speculators are actually getting that confidence and comfort.” [in] “The Fed will cut rates,” he said.
Gold prices tend to be inversely related to interest rates.
— Li Yingshan
8 hours ago
Japan’s Nikkei Stock Average is below 40,000 yen
The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group, Inc. (JPX), will be displayed at the stock exchange in Tokyo on Friday, October 2, 2020.
Akio Kon | Bloomberg via Getty Images
Japan’s Nikkei 225 index fell 1.5% from the previous session to 39,762.85, falling below the 40,000 yen mark for the first time in 12 days.
The index rose to 40,000 in early March and has hit multiple new highs since then. On March 22, it surpassed $41,000 and hit an all-time high of 41,087.75.
This came after the Bank of Japan ended its negative interest rate regime in mid-March, along with other non-traditional easing measures aimed at revitalizing the Japanese economy.
The Japanese yen traded at 151.29 yen to the dollar, after hitting a 34-year low of 151.97 yen last week.
— Shreyashi Sanyal
10 hours ago
South Korean factory activity begins to shrink in March
Korean factory activities After two consecutive months of expansion, it fell into contraction territory in March.
The country’s Purchasing Managers Index stood at 49.8, down from 50.7 in February.
S&P Global said in a report that panel members mainly blamed weak demand and downward revisions to investment plans.
“Many companies noted that sales remained weak, especially in response to the weak domestic economy,” it added.
— Lim Huijie
11 hours ago
Business confidence in Japan’s major manufacturing industries has declined slightly
business optimism According to the Bank of Japan’s Tankan survey, the sales of Japan’s major manufacturers decreased in the first quarter, posting an increase of +11 compared to +12 in the previous survey.
Economists’ forecasts compiled by Reuters were for major manufacturers to increase by 10.
However, non-manufacturing optimism rose to its highest level since August 1991, with the Tankan gauge at +34 compared with +30 in the fourth quarter, beating Reuters’ forecast of +33.
The Tankan survey also monitors the Bank of Japan as it formulates monetary policy.
— Lim Huijie
12 hours ago
China’s factory activity expands in March, unexpectedly
factory activity in china The economy expanded in March, ending a five-month period of contraction and surprising expectations.
The country’s Manufacturing Purchasing Managers Index stood at 50.8, according to official data.
This is a smaller number compared to February’s 49.1 and the Reuters poll’s estimate of 49.9.
Separately, the non-manufacturing PMI rose to 53.0 from 51.4 in January.
— Lim Huijie
13 hours ago
Trends in major averages at the start of the second quarter
Wall Street sees another strong quarter and month as excitement around artificial intelligence shows no signs of abating and investors brace for the start of the Federal Reserve’s interest rate cutting cycle later this year. It’s coming.
Let’s take a look at where the key averages stand as the second quarter begins.
Dow Jones Industrial Average:
- The stock rose 2.1% in March, marking its first five-month winning streak since August 2020.
- 5.6% increase in 1st quarter
S&P500:
- Increased by 3.1% in March
- Up 10.2% in the quarter, delivering the best first-quarter performance since 2019
Nasdaq Composite:
- 1.8% increase in March
- 9.1% increase in 1st quarter
— Samantha Subin, Chris Hayes
14 hours ago
