Category Archives for News

Apple’s iPhone hot streak is going to run into the global chip shortage

Apple

Apple reported a blowout quarter on Tuesday, driven by sales of iPhones, which were up 50% annually to $39.57 billion in sales. That followed the March quarter, where iPhone sales were up 65.5% annually, and Apple’s holiday quarter, where sales were up 17% to $65.60 billion. The iPhone is on a hot streak driven by last year’s […]

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Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

Bitcoin

Bitcoin surged Sunday evening topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off. The cryptocurrency was trading at around $38,059.84 at 11:05 p.m. ET, according to CoinDesk data, up nearly 11% from the same time 24-hours prior. Bitcoin had previously hit a 24-hour high of $39,544.29, the highest level […]

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Treasury yields climb, 10-year Treasury tops 1.28% ahead of PMI data

Bank of America

Treasury yields climbed on Friday morning, with the 10-year rate topping 1.28%, ahead of the release of July’s flash purchasing managers’ index readings.The yield on the benchmark 10-year Treasury note added 1 basis point, climbing to 1.281% at 3:45 a.m. ET. The yield on the 30-year Treasury bond gained 1 basis point, rising to 1.917%. […]

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Chipotle earnings beat, sales surge as dine-in customers return to restaurants

Chipotle Mexican Grill on Tuesday reported quarterly revenue that surpassed pre-pandemic levels as dine-in customers returned to its restaurants. The company also released a same-store sales forecast for its third quarter. Shares rose 4% in extended trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per […]

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IBM shows strongest revenue growth in three years

IBM shares rose as much as 4% in extended trading on Monday after the enterprise technology and services provider reported second-quarter earnings that came in stronger than analysts had expected. Here’s how the company did:Earnings: $2.33 per share, adjusted, vs. $2.29 per share as expected by analysts, according to Refinitiv.Revenue: $18.75 billion, vs. $18.29 billion as expected by […]

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Stock futures slip as Wall Street wraps up first week of second-quarter earnings

Futures contracts tied to the U.S. stock indexes slipped during the overnight session Thursday evening as Wall Street neared the end of the first major week of second-quarter earnings reports. Contracts linked to the S&P 500 lost 0.1%, while Dow futures lost 32 points. Nasdaq 100 futures shed less than 0.1%. The moves in the overnight session […]

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Stock market news live updates: Stock futures drift, hovering near record levels

Stock futures opened little changed Wednesday evening as investors digested a host of mixed corporate earnings results and reassurances from top central bank officials that the latest spike in inflation would likely prove temporary. Contracts on the S&P 500 hugged the flat line after the index eked out a record intraday high during Wednesday’s regular session. […]

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Surging prices for used cars, gasoline, food and airfares are driving the jump in inflation

Oil prices

Price increases in used cars, car rentals — as well as a rebound in airfares, lodging and food — are behind the biggest inflation surge since 2008 as the U.S. economy reopens. The consumer price index jumped 5.4% from a year earlier, the largest increase since before the worst of the financial crisis, the Labor Department […]

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Earnings season begins in the week ahead with eye-popping growth set to validate market’s 2021 run

Second-quarter earnings reporting season gets underway in the week ahead and eye-popping results could validate a market that continues to easily shake off any concerns on its steady march to record high after record high. The second quarter’s profits for S&P 500 companies are expected to be up 65% from the same quarter a year ago […]

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Gold Poised for Third Weekly Advance on Recovery Headwinds

trading

Gold is heading for a third weekly advance, with the haven metal gaining on anxiety about the spread of Covid-19 variants and the prospect of prolonged dovish monetary policy. Bullion is winning back investors after a bleak June, with fears that the world’s exit from the pandemic may be more fraught than anticipated. Renewed virus fears […]

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