Most Recent
Burst of Attacks in Gulf Heightens Fears Over Fragile Energy Trade
Strikes on tankers in the Strait of Hormuz and oil infrastructure in Saudi Arabia came as the region’s exporters were getting more oil to the world market.
Tech heavyweights push Nasdaq to record high close
The Nasdaq notched a record high close on Monday, lifted by Nvidia and Microsoft, as investors focused on a dip in oil prices and looked ahead to quarterly earnings reports. It was the Nasdaq's second day of sharp gains after weaker-than-expected jobs data on Friday dampened expectations for an interest rate hike from the US Federal Reserve at its policy meeting this month. The S&P 500 rose and was about 0.3 percent below its August 13 record high close. AI heavyweight Nvidia climbed 2.1 percent and also reached a record-high close, boosting its stock market value to US$5.76 trillion. Microsoft added 1.5 percent, while Meta Platforms and Tesla gained about 2 percent each. The Nasdaq's previous record high close was on September 22. Oil prices slipped after crude exports from the Middle East increased and the Group of Seven nations pledged to boost supplies. "With the economic data calendar being light and earnings about a week away, investors are really groping for anything positive to grab onto, and clearly they're looking at lower energy prices," said Art Hogan, chief market strategist at B Riley Wealth. Third-quarter earnings season kicks off next week with reports from large US banks. Analysts on average see S&P 500 earnings jumping over 30 percent year over year, thanks largely to AI-related stocks, according to LSEG data. Following jobs data on Friday that showed US job growth slowed more than expected in September, traders see a 24 percent chance of an interest rate hike at the Fed's October meeting, down from a 70 percent chance a week ago, according to CME's FedWatch tool. The Nasdaq rose 1.1 percent, to 27,477, the S&P 500 rose 0.7 percent, to 7,773, while the Dow rose 0.2 percent, to 51,267. (Reuters) Edited by Cecil Wong
Lucid Motors’ EV output falls to lowest level in almost 2 years
The company is deliberately limiting production after years of struggling to find mass-market demand for its EVs.
Biologists fear for humpback whale seen entangled in fishing gear near San Pedro
Weather conditions have stymied efforts to help the animal, which was last seen Thursday.
House Democrat targets candidate prediction market trades after opponent’s Kalshi penalty
A new bill bans federal candidates from trading prediction market contracts related to their own elections and would result in a fine if violated.
Self-proclaimed 'Prophet of Doom' warned of 'future pandemic' just days before Russian lab worker died of the plague
A self-proclaimed psychic has been thrust back into the spotlight over his warning about a future pandemic just days before reports of a suspected plague case in Russia surfaced.
Nobel Prize in Physiology or Medicine Is Awarded for Discoveries in Neuroscience
Karl Deisseroth, Peter Hegemann and Georg Nagel were recognized for their work on light-gated ion channels and optogenetics, a technique that uses pulses of light to activate neurons in the brain.
Nashville Symphony Receives $10 Million Lifeline From Oracle
The symphony announced last week that it was pausing the rest of the season after disclosing financial trouble. The concerts are back on now, thanks to a tech company gift.
Euro falls to 17-month low against dollar on French debt concerns
The euro has stumbled to a 17-month low against the US dollar on concerns about France's ability to bring its public finances in order. The currency has dropped nearly 7 percent from its peak in late January. Meanwhile, global oil prices have fallen despite ongoing tensions around the Arabian Peninsula, after the G7 agreed to release up to 100 million barrels from strategic reserves and oil flows from the Persian Gulf returned to pre-war levels.
Brazilian stocks jump as Bolsonaro now seen as heavy favorite to win presidency
The moves come after the first round results of Brazil's presidential election on Sunday. Bolsonaro will face incumbent Lula da Silva in a runoff on Oct. 25.