Stocks

BLOOMBERG European technology shares fell the most in two weeks on worries that central banks will keep driving interest rates higher. ASML Holding NV lost 1.8%, the biggest drag on the Stoxx 600 on Thursday. In the US pre-market, GameStop Corp plunged 18% after firing its chief executive and reporting sales that fell short of estimates. Technology stocks, which tend ...

BLOOMBERG US futures and European shares drifted lower, as a bigger-than-expected drop in Chinese exports stoked further concerns about the strength of global demand.  Signs of fading momentum in the world’s second-largest economy are weighing on sentiment globally, damping the optimism earlier this year surrounding China’s reopening from pandemic restrictions. The nation’s exports to most destinations contracted in May. Despite ...

BLOOMBERG Zimbabweans frantically trying to protect their savings from a collapsing currency have driven the country’s main stock index up by 600% this year. Local traders see more gains in store because there are few alternative assets to buy. Zimbabweans often turn to equities as a haven from currency meltdowns and episodes of hyperinflation, as happened in June 2020 when ...

BLOOMBERG US futures and European stocks fluctuated on Tuesday trading, and the Australian dollar jumped after a surprise interest rate increase by the country’s central bank. Contracts on US gauges were muted, following the S&P 500’s retreat. Apple Inc fell 0.4% in premarket trading, after dropping from an all-time as it unveiled its new mixed-reality headset at a steep price. ...

BLOOMBERG The roaring rally in tech stocks has further to go, as the buzz around artificial intelligence and hopes for a pause in the Federal Reserve’s rate hikes give them an edge, according to Citigroup Inc quantitative strategists. The growth style investing factor in the US has by far been the most successful with a nearly 20% jump this year, ...

BLOOMBERG Wall Street has been caught by surprise by a rally in local emerging-market debt, an asset class that’s been largely abandoned by foreign investors after a decade of underperformance. Domestic-currency bonds are this year’s developing-world winners, handing money managers far stronger returns than hard-currency debt or equities, according to data compiled by Bloomberg. BlackRock Inc has started calling local ...

BLOOMBERG The coders who maintain Bitcoin’s blockchain are clashing over whether to stamp out the meme tokens swarming the network. A torrent of speculative coins led to a record number of transactions and an 11-fold spike in processing fees on the blockchain in May, creating a logjam and forcing the Binance exchange to temporarily halt Bitcoin withdrawals. The tumult has ...

BLOOMBERG Wall Street’s reaction to the latest jobs report showed bets that another Federal Reserve interest-rate hike is likely in the bag — but that wouldn’t necessarily happen in June. As Treasury yields climbed, swap contracts projected officials will probably wait until next month to tighten again. The possibility of a Fed pause, more signals that the economy is still ...

BLOOMBERG The ESG fund with the biggest exposure to Nvidia Corp has just beaten 99% of its peers, as bets on artificial intelligence (AI) transform the fortunes of portfolios promoting environmental, social and governance principles. The $830 million Nvidia stake held by Swedbank Robur Technology C makes it the most exposed ESG-registered fund to the world’s most valuable chip company, ...

BLOOMBERG European stocks climbed after three days of declines, while US futures edged higher after the House passed a deal to avert a US default and Federal Reserve officials hinted at a pause in interest-rate hikes. Banks and carmakers led gains in the Stoxx Europe 600 index as data showed euro-area inflation slowed more than analysts’ estimates in May. Adnoc ...