Semiconductor stocks have been volatile. Last Friday, the VanEck Semiconductor ETF fell 11.6% in a day. Overall, the index has plunged 26% since mid-August, including Friday’s declines. Before that, the index was going through wild swings, first diving in July before recovering in early August, then tumbling again. The ETF is still up about 27% year-to-date, however. Investors might be wondering: What’s the outlook for semiconductor stocks — which have been boosted by artificial intelligence — and are there pockets of buying opportunity? In a report released Tuesday, Morningstar said demand is set to continue improving, while memory prices and…
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The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday.Eduardo Munoz | ReutersThe United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday.The move comes as the U.S. seeks to repair ties with Africa, where many are unhappy about Washington’s support for Israel’s war in Gaza, and deepen relations with Pacific Islands nations important to countering Chinese influence in the…
UBS CEO Sergio Ermotti on Tuesday, May 7, 2024. Bloomberg | Bloomberg | Getty ImagesThe CEO of Swiss banking giant UBS said Thursday that the fight against inflation isn’t over yet, and some investors seem to be getting too ahead of themselves in expecting that the U.S. Federal Reserve could pull an aggressive rate cut this month.”I think the market seems to be a little bit too ahead of the curve in expecting the Fed to go so aggressively,” Sergio Ermotti, Group CEO of UBS Group AG, told CNBC’s “Squawk Box Asia.”The question of whether the Fed will lower rates at…
Cargo ships loaded with cars and containers for export are departing at the port of Yantai in Yantai, China, on July 31, 2024.Nurphoto | Nurphoto | Getty ImagesU.S. trade ties with China will remain tense no matter who wins the election in November, according to Carlos Casanova, senior economist at Swiss private bank UBP.Casanova’s view is shared by other experts who have said that both the Republican and the Democratic presidential nominees — Donald Trump and Kamala Harris — will remain tough on China.Trump has proposed up to 100% tariffs on Chinese goods and a blanket tariff of 10%-20% on…
Optimism made way for disappointment — and in some cases, dismay — as the 2024 NFL regular season kicked off and 16 teams stumbled out of the gate with a defeat.Some teams lost in narrow, heartbreaking fashion (the Indianapolis Colts and Los Angeles Rams) while others delivered listless performances (the Carolina Panthers and New York Giants).But it’s a long season. Some teams will promptly resume their Super Bowl quests. Others will take a step in the right direction even if title hopes remain unrealistic. And then there are those that will struggle to shake off the ills that plagued them…
As Wall Street speculates about the outcome of the Federal Reserve’s upcoming meeting, CNBC’s Jim Cramer reflected on Wednesday’s volatile market action, telling investors not to overthink the situation and remember that any rate cut is positive.”I say keep it simple: Rate cuts are good,” he said. “Small rate cuts are great, because they project confidence and give you a lot more rat cuts later on, and they do not allow for panic.”After a day of uneven trading, the averages ultimately finished higher, with the Dow Jones Industrial Average gaining 0.31%, the S&P 500 adding 1.07% and the Nasdaq Composite…
A Ford logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. David Dee Delgado | ReutersFord Motor held talks with India’s Tamil Nadu state to explore producing vehicles for export, the state’s chief minister said, potentially signaling that the U.S. carmaker could restart production in India after exiting the country three years ago.Ford stopped producing cars in India for domestic sale in 2021 after struggling to boost volumes and pulled the plug on exports in 2022, effectively exiting the world’s third-largest car market which is dominated by Asian rivals.Ford sold one of its two plants in India to Tata Motors in 2023. Its other plant, which is in Chennai in Tamil Nadu state, was…
U.S. Soccer sporting director Matt Crocker looked down at his phone as he stood in his home gym in Southampton, England, and saw the message from Mauricio Pochettino.Several days earlier, the U.S. had failed to progress from the group at Copa America under Gregg Berhalter. A “comprehensive review” was underway and every option was being evaluated. A list of potential coaching candidates was put together and Pochettino, the former Southampton, Tottenham Hotspur, Paris Saint-Germain and Chelsea manager, was at the top.Pochettino and Crocker had crossed paths for one year at Southampton before the Argentine moved to Spurs in 2014 but…
Norfolk Southern former Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled “Improving Rail Safety in Response to the East Palestine Derailment” in Washington, March 22, 2023.Evelyn Hockstein | ReutersNorfolk Southern CEO Alan Shaw is out effective immediately after the board determined he engaged in a consensual relationship with chief legal officer Nabanita Nag, the company announced Wednesday. He will be replaced by finance chief Mark George.The company said Nag would be terminated as well, based on the board’s preliminary investigation.CNBC first reported on the board probe Sunday, and followed with a report on…
Republican U.S. vice presidential nominee Senator JD Vance gestures as he speaks during an event at Kenosha City Courthouse in Kenosha, Wisconsin, U.S. August 20, 2024. Marco Bello | ReutersOver the past decade, Republican vice presidential nominee Sen. JD Vance of Ohio has quietly built a network of allies on Wall Street, one that is distinct from his running mate, former President Donald Trump’s, circles. Now, Vance’s fans are mobilizing to help him raise millions of dollars for the Trump-Vance presidential campaign.On Thursday, Vance will headline two fundraisers in New York City hosted by some of his top supporters in the…
