DIRS.INFO The most relevant business & tech news

Thursday on Wall Street, the S&P 500 added 0.4% to 4,894.16 and set a record for a fifth straight day. IBM helped lead the market with a gain of 9.5% after it reported a better profit for the latest quarter than analysts expected. The electric-vehicle maker reported earnings and revenue that fell short of forecasts and warned of lower sales growth this year. Such a resilient economy should drive profits for companies, which are one of the main inputs that set stock prices. On the losing end of Wall Street, Humana tumbled 11.7% after the insurer reported worse results for the end of 2023 than expected.

Persons: ” Robert Carnell, Seng, Tesla, ”, Jamie Cox Organizations: TOKYO, Nikkei, Bank of Japan, ING, Dow Jones, Nasdaq, IBM, U.S ., Federal Reserve, Harris Financial, Treasury, . American Airlines, Humana, New York Mercantile Exchange, Brent Locations: U.S, Asia, Pacific, Shanghai, Australia, Wall

Tokyo and Hong Kong fell while Shanghai, Seoul and Sydney gained. U.S. futures and oil prices edged higher. Meanwhile, the broader economy has remained strong enough in the face of rising interest rates and inflation to avoid a recession. The Hang Seng in Hong Kong slipped 0.8% to 17,381.14. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, fell to 4.38% from 4.47% late Friday.

Persons: ” Robert Carnell, Min Joo Kang, Sensetime, Grizzly, Kospi, Australia's Organizations: Sydney, Conference, FactSet, Federal, Federal Reserve, U.S, ING Economics, Nikkei, Grizzly Research, Hong Kong Stock Exchange, Dow Jones, Nasdaq, Treasury, New York Mercantile Exchange, Brent, Investors, U.S . Locations: BANGKOK, Asia, Tokyo, Hong Kong, Shanghai, Seoul, China

BANGKOK (AP) — Shares declined Friday in Asia, with Hong Kong's benchmark retreating on selling of property shares following recent gains. Japan reported its consumer inflation rose for the first time in four months, with big gains in food prices and hotel rates as tourism has soared. Political Cartoons View All 1265 ImagesChinese shares fell back after recent gains driven by expectations of more government support for debt-burdened property developers. On Thursday, European shares edged higher in thin trading. Britain’s FTSE 100 edged 0.2% higher to 7,483.58.

Persons: ” Robert Carnell, Min Joo Kang, Korea's, Germany’s DAX Organizations: —, Bank of, ING Economics, Nikkei, CAC, Dow, Nasdaq, Black, Walmart, Saks Fifth, Federal, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Japan, Hong Kong, Shanghai, Australia, Bangkok, Paris

TOKYO (AP) — Japan’s economy slipped into a contraction in the third quarter, decreasing at an annual pace of 2.1% as consumption and investments shrank, the government reported Wednesday. The third quarter's performance was far worse than what had been expected, according to the financial services company ING, which had forecast an annual contraction of 0.5%. Political Cartoons View All 1247 ImagesPrivate consumption shrank an annualized 0.2% during the quarter, while corporate investment decreased 2.5%. Economic activity in the previous two quarters got a boost from recovering exports and inbound tourism. Public demand, which includes government spending, rose at an annual pace of 0.6% in the latest quarter.

Persons: ” Robert Carnell, ING's, Fumio Kishida, ___ Yuri Kageyama Organizations: TOKYO, ING, Auto, Bank of Japan Locations: Asia, Pacific, Japan

Stock prices fell in Hong Kong, Bangkok and Mumbai and rose in Tokyo, Seoul and Shanghai. U.S. futures slipped and oil prices edged higher. American Airlines, Delta Air Lines and United Airlines were also toward the front of the market, each gaining more than 2% as oil prices continued to drop and ease the pressure on fuel costs. A recent sharp drop in oil prices has relieved some inflationary pressure, raising the likelihood the Fed might hold rates steady instead of raising them further. The price for a barrel of U.S. crude oil has fallen from above $90 to back to where it was in July, and it dropped another $2.04 to settle at $75.33 on Wednesday.

Persons: ” Robert Carnell, disinflation, ”, Hang Seng, Fumio Kishida, Eli Lilly, Jerome Powell, Brent Organizations: ING Economics, Nikkei, Dow Jones, Nasdaq, American Airlines, Delta Air Lines, United Airlines, Warner Brothers Discovery, Federal, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Hong Kong, Bangkok, Mumbai, Tokyo, Seoul, Shanghai . U.S, China, Shanghai, Australia, Israel

Political Cartoons View All 1211 ImagesThe futures for the S&P 500 and Dow industrials were up less than 0.1%. On Monday on Wall Street, the S&P 500 climbed 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals. FactSet estimates that earnings per share at S&P 500 companies likely rose 0.4% in the last quarter from a year earlier. Shares of Lululemon jumped 10.3% in their first trading session after S&P Dow Jones Indices said the apparel company will join its widely tracked S&P 500 index.

Persons: Germany's DAX, Dow industrials, Antony, Blinken, ” Robert Carnell, Nicholas Mapa, Brent, ”, Mark Hackett, Johnson, Tesla, Charles Schwab, Dow Organizations: CAC, Nikkei, Hamas, Dow, Nasdaq, ING Economics, New York Mercantile Exchange, Treasury, Financial, Nationwide, Bank of America, Federal Reserve, Dow Jones, Activision Blizzard, Microsoft, U.S Locations: BANGKOK, East, Paris, Asia, Hong Kong, Shanghai, Australia, Thailand, Israel, Gaza, Lebanon, Iran

☆ US futures and Asia Pacific stocks react to SVB recovery efforts
▼ + stars: | 2023-03-13 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

On Sunday, the Biden administration promised that customers of the failed Silicon Valley Bank (SVB) and Signature Bank would have access to all their money starting Monday. In a joint statement, US Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell and Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg said the FDIC will make SVB and Signature Bank’s customers whole. In a related action, the government shut down Signature Bank, a regional bank that was teetering on the brink of collapse in recent days. “Cross-asset traders of all stripes are heaving a sigh of relief as bank runs have a tendency to catch on globally,” he told CNN. Bank shares in Asia were under pressure Monday, following a heavy rout for their US and European counterparts late last week.

Search resuls for: "” Robert Carnell"

7 mentions found