Markets & Industries
Super Micro Computer becomes S&P 500 growth leader in the first half of 2023 - 07/02/2024
Among the firms used to calculate the S&P 500 U.S. stock index, Super Micro Computer's shares emerged as the most rapidly growing in the first half of the year, according to MarketWatch. The company’s stock price increased by 188%, or 2.9 times. According to MarketWatch, this was made possible by the industry's overall upswing in anticipation of a growth in the need for AI technologies as well as...
Leading US banks to increase dividends after successful Fed stress tests - 07/02/2024
Major US banks plan to boost their dividend payments to shareholders after passing the stress tests conducted by the Federal Reserve. The Fed came to the conclusion that the banks could survive a significant economic downturn, and as a result, they intend to release excess capital to shareholders. JPMorgan Chase & Co. intends to increase its quarterly dividend to $1.25 per share from $1.15...
Cargo ships and containers are piled up in Singapore due to shelling in the Red Sea - 06/28/2024
According to Reuters, cargo ships in Singapore, the world's largest seaport, must wait days to be loaded and unloaded. This resulted from the Houthis' bombardment of merchant ships in the Red Sea, which hampered the flow of cargo. The Red Sea is constantly under attack, therefore ship operators would rather take longer routes around Africa. There are fewer actual journeys now that ships...
UN records decline in global FDI - 06/24/2024
A report by the United Nations Conference on Trade and Development (UNCTAD) shows that worldwide foreign direct investment (FDI) flows decreased by 2% to $1.33 trillion in 2023 amid general concern about the prospects for global economic development. According to UNCTAD data, the amount of foreign direct investment (FDI) flowing globally in 2023 decreased by 2% to $1.33 trillion. Amidst the...
CSIS: China has invested $230 bln in electric vehicle production since 2009 - 06/24/2024
The Chinese government has invested at least $231 billion in the establishment and growth of the country's electric car industry between 2009 and 2023. This is reported in a study released by the Center for Strategic and International Studies (CSIS), a US-based organization. Scott Kennedy, the director of CSIS's China Economy and Business Research Unit, estimates that this amounts to roughly...
Arm chipmaker's securities will join Nasdaq 100 instead of Sirius shares - 06/17/2024
Before the U.S. market opens on June 24, American Depositary Shares (ADSs) of British chipmaker Arm Holdings plc will be added to the Nasdaq 100 index, the Nasdaq exchange operator announced in a press statement. The securities will replace papers of American radio broadcaster Sirius XM Holdings. The Nasdaq 100 comprises shares of the 100 non-financial issuers with the highest market...
Global chip sales up 15.8% year-on-year in April - 06/10/2024
Global chip sales reached $46.4 billion in April, up 15.8% year over year, according to a Semiconductor Industry Association (SIA) press release. The number grew by 1.1% from March. SIA President and CEO John Neuffer stated, "The global semiconductor industry has posted double-digit year-over-year growth rates in every month of 2024, with month-over-month sales increasing in April for the first...
Wells Fargo expects S&P 500 to rise to 5,700 points in post-election rally - 06/04/2024
Wells Fargo strategists believe that the S&P 500 index may rise as high as 5,700 points during the surge following the US presidential election this autumn. The indicator's value at the end of trade on June 3 was 5,283.4 points; this means that the bank's analysts' prognosis calls for growth of about 8% from the current level. "Compared to previous election years, the S&P 500 index has...
FT: Sea freight prices approached their January peak - 05/29/2024
The early season of higher demand for the service is driving up the cost of maritime freight shipping once more, writes the Financial Times. Thus, the average cost of an urgent 40-foot container delivery between the Far East and Northern Europe last week was $4343, according to the analytical firm Xeneta. When the Houthis began attacking merchant ships navigating the Red Sea in January, freight...
Goldman Sachs expects the Fed's first rate cut in September - 05/27/2024
In response to recent remarks made by Fed officials, US bank Goldman Sachs Group has revised its prediction regarding when the Federal Reserve (Fed) would undertake a significant interest rate cut. Unlike what was originally anticipated, Goldman now projects a 25-basis point rate drop in September instead of July. The market, which places a 54% chance of a September cut and a mere 12% chance of a...
