The former Fidelity Magellan fund manager revealed Tuesday that he wished he hadn’t missed out on the explosive growth in Apple.
Archiv für den Monat: April 2023
VC firms create $60 billion-plus climate tech alliance with backing from the UN
A coalition of more than 20 venture capital firms launched Tuesday with the goal of getting the VC industry to increase its commitments to climate tech.
Stocks making the biggest moves premarket: Novartis, First Republic, 3M and more
3M said it would cut about 6,000 positions to focus on high-growth markets, such as automotive electrification and home improvement.
Fintech firm Klarna overhauls its app with a TikTok-like discovery feed as A.I. hype swirls
„Buy now, pay later“ firm Klarna on Tuesday made some sweeping changes to its app, including a TikTok-inspired discovery feed that recommends products to users.
Microsoft set to report quarterly earnings after the bell
Microsoft’s results are likely to be weighed down by the continuing slump in the PC market, but the company stands to benefit from its partnership with OpenAI.
Alphabet to issue first-quarter results after markets close
Google is trying to reignite growth after a tough year for online advertising in 2022.
JetBlue posts quarterly loss but forecasts profit thanks to strong travel demand
JetBlue posted a loss for the first three months of the year but forecast a profit for the second quarter thanks to strong travel demand.
McDonald’s earnings beat estimates as U.S. traffic grows despite price hikes
Shares of McDonald’s have risen 11% this year, giving it a market value of $214 billion.
General Motors raises 2023 guidance as first-quarter earnings beat expectations
General Motors on Tuesday raised key guidance for 2023 after reporting first-quarter results that topped Wall Street’s top- and bottom-line forecasts.
ForexLive European FX news wrap: Dollar recovers some poise on softer markets
Headlines:
- Dollar nudges higher as stocks, yields stay anchored
- Major central banks confirm to revert back to weekly dollar swaps with the Fed
- ECB’s Lane: Further rate hikes beyond May will depend on the data
- ECB’s Villeroy: Inflation will probably come down towards 2% at the end of 2024
- BOE’s Broadbent: Had we seen inflation shocks coming, we would’ve tightened policy sooner
- Switzerland March trade balance CHF 4.53 billion vs CHF 3.31 billion prior
- UK April CBI trends total orders -20 vs -20 expected
Markets:
- JPY leads, AUD lags on the day
- European equities lower; S&P 500 futures down 0.5%
- US 10-year yields down 7 bps to 3.445%
- Gold down 0.5% to $1,978.43
- WTI crude down 0.8% to $78.13
- Bitcoin down 0.2% to $27,415
The dollar is getting a bit of love again after a rough start to the new week, as stocks and bond yields are looking heavier today. It’s tough to balance out the narratives in broader markets at the moment but here’s my take on things.
As the risk mood is leaning towards the softer side, the dollar is seen nudging higher in European trading with EUR/USD falling from 1.1050 to 1.1010 on the session. The pair is flanked by a large set of option expiries, so there is also that to consider before they roll off later in the day.
GBP/USD also extended its fall from Asia, when it hit a high of 1.2500, to 1.2430 as sellers start to wrestle back near-term control. The aussie is the laggard as risk trades are on the defensive, with AUD/USD down 0.7% to 0.6650 levels at the moment.
Equities were sluggish throughout, with European indices opening lower and consolidating losses so far on the day. Meanwhile, Treasury yields are also feeling heavy and have kept lower since Asia trading already.
With the dollar inching higher and risk staying subdued, gold is marked lower again to contest daily support at $1,981 – as it has been doing since last week. Then, we are also seeing oil slip back by nearly 1% towards $78 ahead of US trading.
This article was written by Justin Low at www.forexlive.com.