Trump Media & Technology Group (DJT) stock continued to fall Tuesday after sinking 18% on news the parent company of Donald Trump’s social media platform Truth Social had filed to issue more than 21 million shares. The stock slid to close at $26.61 on Monday in an extension of last week’s sell-off and fell over … Read more
(Bloomberg) — A global equities benchmark has fallen precipitously close to oversold territory following a selloff in risk assets this month. Most Read from Bloomberg The MSCI All Country World Index’s 14-day relative strength index dropped below 33 on Tuesday to levels last seen in October. A reading of 30 or below indicates a possible … Read more
(Bloomberg) — Xiaomi Corp.’s roaring entry into the electric vehicle market is dimming the recovery outlook for China’s beaten down auto startups. Most Read from Bloomberg Hype around the launch and better-than-expected initial orders for the SU7 have helped a rally in Xiaomi shares gain momentum. Investors have meanwhile ramped up bets on further declines … Read more
(Bloomberg) — BlackRock Inc.’s co-founder sees markets primed for a comeback. Most Read from Bloomberg There’s almost $9 trillion right now sitting in money market funds, and the same amount sitting in cash alternatives at banks, Robert Kapito, president of the world’s largest asset manager, said at the Asia Pacific Financial and Innovation Symposium in … Read more
(Bloomberg) — Asian stocks and currencies tumbled as signs of fading momentum in China’s economy added to angst over elevated US interest rates and tensions in the Middle East. Most Read from Bloomberg The MSCI Asia Pacific Index slid the most since August, with every major market seeing losses, after a slew of China’s economic … Read more
Andrew Kelly/Reuters US stocks fell on Monday as investors worried about an escalation of the Israel-Iran conflict. The risk-off nature of Monday’s market action sent the 10-Year Treasury yield to its highest level of 2024. March retail sales data surged 0.7%, more than double consensus estimates of 0.3%. US stocks reversed their Monday morning gains … Read more
Not-So-Happy Meal: $20 Wages Has Burger Joints In This State All Heated California fast-food employees started earning a minimum of $20 an hour in April. Thanks to a new law, which went into effect earlier this month, California chain restaurants with at least 60 locations nationwide have to pay their employees more. For smaller restaurants, … Read more
By Ben Blanchard and Faith Hung TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 5% rise in first-quarter profit on Thursday thanks to strong demand. The world’s largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a … Read more
Shares of Medical Properties Trust (NYSE: MPW) soared 18.8% on Monday after the healthcare facilities-focused real estate investment trust (REIT) announced a major asset sale. Medical Properties Trust announces a huge Utah deal Late Friday, the company said it had sold its interests in five Utah hospitals to a newly formed joint venture with an … Read more
Tesla announced layoffs.Justin Sullivan Tesla stock extended its 2024 stock decline to 34% on Monday, with the stock dropping 3%. Monday’s decline comes after the company said it would slash 10% of its staff amid weakening EV demand. Tesla CEO Elon Musk said in a memo that there has been a “duplication of roles and … Read more