FTSE 100, DAX 40 Drop on Higher UK Inflation Reading, While S&P 500 Stays Near Record High
Outlook on FTSE 100, DAX 40 and S&P 500 amid more hawkish Fed talk ahead of Nvidia earnings and FOMC minutes
Oil Slips for Third Session on Likely Higher for Longer US Rates
SINGAPORE, May 22 Reuters Oil prices fell for a third straight session on Wednesday on expectations the Federal Reserve might keep U.S. interest rates higher for longer due to sustained inflation, potentially impacting fuel use in the world39;s largest oil consumer. Brent crude futures were down 71 cents, or 0.9, to 82.17 a barrel, while […]
Lowes Quarterly Sales Decline Slower than Expected on Steady Demand for Small Repairs
May 21 Reuters Lowe39;s Cos reported a lowerthanexpected drop in quarterly sales on Tuesday, helped by more smallscale repairs undertaken by inflationhit Americans, who have otherwise cut back on bigticket discretionary home improvement projects. The North Carolinabased company39;s shares rose about 2.5 before the bell after Lowe39;s also reaffirmed its annual sales and profit target. Rival […]
Chinese Tech Giants Slash Prices of Language Models Used to Power AI Chatbots
BEIJING, May 21 Reuters Chinese tech giants Alibaba and Baidu slashed prices on Tuesday of largelanguage models LLMs used to power generative artificial intelligence products, as a price war in the cloud computing sector heats up in China. Alibaba39;s cloud unit announced price cuts of up to 97 on a range of its Tongyi Qwen LLMs. Its […]
AutoZones Quarterly Profit Beats Estimates on Demand for Car Parts
May 21 Reuters AutoZone beat estimates for thirdquarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models. Quarterly net sales at the auto parts supplier, which competes with Advance Auto Parts and O39;Reilly Automotive, rose 3.5 to about […]
UK Manufacturing Orders Dry Up in May CBI
May 21 Reuters British manufacturing orders contracted this month at the fastest rate since November and expectations for future price hikes abated, a survey showed on Tuesday. The Confederation of British Industry39;s monthly gauge of industrial orders sank to 33 from 23 in April, despite the biggest rise in output since November 2022. A Reuters […]
Sri Lanka Inflation Rises to 2.7 in April from 2.5 in March
COLOMBO, May 21 Reuters Sri Lanka39;s consumer price inflation rose to 2.7 in April from 2.5 in March, official data showed on Tuesday. The National Consumer Price Index NCPI captures broad retail price inflation and is released with a lag of 21 days every month. Food prices rose 3.3 in April from 5 in March, the […]
European Labs Led by imec to Receive 2.7B in Chips Act Funding
ANTWERP, Belgium, May 21 Reuters Leading European research labs will receive 2.5 billion euros 2.72 billion in funding under the European Chips Act to set up a pilot line to develop and test future generations of advanced computer chips, Belgium39;s imec said on Wednesday. The European Union39;s 43 billion euro Chips Act was announced in 2023 to […]
Indias Russian Oil Imports Rise to NineMonth High in April
NEW DELHI, May 21 Reuters India39;s Russian oil imports rose a ninemonth high in April after shipments on nonsanctioned tankers operated by Russia39;s largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company39;s ships, along with its 14 tankers, were […]
Nvidia Earnings could Spark 200B Swing in Shares, Options
NEW YORK, May 21 Reuters Traders are pricing in a big move for Nvidias shares after the chipmaker reports earnings on Wednesday, though expectations for volatility are more muted than in the past, U.S. options markets show. Nvidia39;s options are primed for an 8.7 swing in either direction by Friday, according to data from options analytics firm […]