Category Archives for News

Gold Plunges Again, Taking Silver With It, As Dollar Blazes

gold prices

Spot Gold, which reflects real-time trades in bullion, was down 39.64, or 2.1%, at $1,860.62. Its low for the day  — $1,856 — set a new two-month trough for the yellow metal.At Wednesday’s session low, the bullion indicator was just $61 from the July 17 bottom of $1,795.11 — which would be the next target […]

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Nike shares soar as online sales jump 82%, retailer sees rebound in China

stock market

Nike shares soared 13% in extended trading Tuesday as the company reported an 82% increase in online sales and offered up an outlook that calls for demand to grow through the holidays. The company has used the coronavirus pandemic as an opportunity to accelerate its digital business, and its women’s apparel division grew nearly 200%. As […]

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China’s ByteDance gets Trump nod to avoid TikTok shutdown

U.S. President Donald Trump said on Saturday he supported a deal in principle that would allow TikTok to continue to operate in the United States, even as it appeared to conflict with his earlier order for China’s ByteDance to divest the video app.ByteDance was racing to avoid a crackdown on TikTok after the U.S. Commerce […]

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Disney+ scored big financial windfall with ‘Mulan’ streaming release

​​​Disney took a calculated risk releasing its live-action “Mulan” remake on streaming service Disney+ — which new data suggests is paying off.According to exclusive figures provided by analytics research firm 7Park Data, nearly 29% of U.S. households that subscribe to Disney+ purchased the $30 “Mulan” film through September 12th — far surpassing other popular (and […]

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Oil gains as hurricane shuts U.S. output, stockpiles fall

oil producers

Oil prices rose on Wednesday, extending gains from the previous session, as a hurricane disrupted U.S. offshore oil and gas production and an industry report showed a big drop in U.S. crude stockpiles.Brent crude was trading up 15 cents, or 0.4%, at $40.68 a barrel by 0055 GMT, while U.S. crude gained 18 cents, or […]

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SoftBank near $40 billion deal to sell Arm Holdings to Nvidia

Apple

SoftBank Group Corp. is nearing a deal to sell British chip designer Arm Holdings to Nvidia Corp. for more than $40 billion, the latest in a series of big asset sales by the Japanese technology conglomerate. The cash-and-stock deal being discussed would value Arm in the low $40 billions, the Wall Street Journal reported Saturday. The […]

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Peloton crushes estimates as sales surge 172%, expects strong demand to continue into 2021

Peloton said Thursday its fiscal fourth-quarter sales surged 172%, as its high-tech stationary bike and treadmill became two of the hottest commodities for people looking to work out at home during the coronavirus pandemic. The fitness equipment maker also offered Wall Street an eye-popping outlook for the current quarter and fiscal 2021, with sales of its […]

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Tesla stock suffers biggest-ever drop as it starts its second bear market this year

first quarter

Shares of Tesla Inc. suffered Tuesday their biggest loss since going public to kick off the second bear market this year, as investors rode a roller coaster over the past week that started with a climb to a record close and was followed by a stock offering, a big bounce, and then an S&P 500 […]

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Dow futures jump 200 points in overnight trading following the worst tech rout since March

Stocks futures climbed in overnight trading on Monday after technology shares suffered their worst sell-off in more than five months. Futures on the Dow Jones Industrial Average gained about 220 points, while the S&P 500 futures rose 0.5%. The Nasdaq 100 futures were flat. Stocks just snapped a five-week winning streak after a big reversal in major […]

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U.S. considers blacklisting China’s largest chipmaker as tech tensions escalate

Portfolio

The Trump administration is considering imposing export restrictions on Semiconductor Manufacturing International Corporation, China’s largest manufacturer of semiconductors, according to a Defense Department spokesperson.  The Department of Defense is in discussions over whether SMIC should be added to the Commerce Department’s entity list, which essentially restricts those companies from receiving specific goods made in the U.S.  “DoD […]

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