Commercial and residential buildings at dusk in the Minato district of Tokyo, Japan.Bloomberg | Bloomberg | Getty ImagesJapan’s economy contracted 0.2% quarter-on-quarter in the first three months of the year, marking its first quarterly contraction in a year, preliminary government data showed Friday.The GDP figure was a larger drop than the 0.1% contraction expected by economists polled by Reuters.On an annualized basis, Japan’s GDP contracted 0.7% in the first quarter, also more than the 0.2% fall expected by the Reuters poll.On a year-on-year basis, however, Japan’s GDP expanded 1.7%, the largest expansion since the first quarter of 2023 and a…
Author: usaeverydaylife
Toronto , Canada – 20 June 2024; Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024.Ramsey Cardy | Sportsfile | Collision | Getty ImagesCerebras CEO Andrew Feldman said his hope is to take his company public in 2025 now that the chipmaker has obtained clearance from the U.S. government to sell shares to an entity in the United Arab Emirates.”That’s our aspiration,” Feldman told reporters on Thursday at the company’s Supernova conference in San Francisco, after being asked if an IPO was likely this year.Cerebras, which makes processors for artificial…
Yukinori Hasumi | Moment | Getty ImagesAsia-Pacific markets were mixed Friday as investors parsed Japan’s latest gross domestic product figures and awaited a slate of other economic data from the region.Japan’s benchmark Nikkei 225 slipped 0.14%, while the Topix added 0.12% after Japan’s economy contracted 0.2% quarter-on-quarter for the three months ended March. Economists polled by Reuters had estimated a 0.1% economic contraction from the prior quarter.The data comes at a time when the country is locked in trade negotiations with the U.S., with initial talks between both sides not yielding a conclusive deal so far.A weak outcome for Japan’s…
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching as the S & P 500 rose for a fourth day, and what’s on the radar for the next session. S & P 500 up for four straight days The S & P 500 is up 4.5% in those four days. It’s now off 3.75% from the all-time high reached in February. The Nasdaq 100 is now about 4% from…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email”Fast Money” is America’s post-market show. Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to bring you the actionable news that matters most to investors. Source link
Walmart’s business is strong enough to withstand tariff headwinds without increasing its prices, according to the discount retailer’s former U.S. CEO.Bill Simon, who ran Walmart U.S. from 2010 to 2014, suggests the company may be overstating challenges tied to tariffs.”If you look down deep and dig into the details of their earnings release today, you know this quarter they grew their gross profit margin in the U.S. business 25 basis points. So, they’re expanding their margin. They also reported their general merchandise categories were flattish because they had mid-single digit price deflation,” he told CNBC’s “Fast Money” on Thursday, the…
British businesses are still hashing out exactly what the recently-unveiled U.K.-U.S. trade deal — the first under President Donald Trump’s tariff-first , negotiate-later regime — means for them. The European Union is yet to strike its own deal. Despite this, one automaker from the bloc’s biggest economy is about to see benefits due to its U.K. presence. BMW , a pillar of Germany’s beleaguered automotive industry , is a major exporter to the U.S. from the U.K. Automotive companies around the world have been hit hard by Trump’s policy, which slapped a blanket 25% rate on imported vehicles and car…
Ole Andreas Halvorsen’s Viking Global increased its bets on U.S. financial stocks in the first quarter and more than doubled its position in Nvidia , according to the latest regulatory filing. Viking loaded up on shares of U.S. Bancorp , Charles Schwab and Bank of America , making them the hedge fund’s three largest holdings, in that order. The fund also loaded up on a new position in Capital One , worth $823 million at the end of March. The Norwegian-American billionaire increased his stake in U.S. Bancorp by 43% after reducing its holding in the fourth quarter. Viking now holds…
CNBC’s Pippa Stevens joins ‘Fast Money’ to report on copper mining. Source link
Jacob Wackerhausen | Istock | Getty ImagesHouse Republicans’ child tax credit planThe Tax Cuts and Jobs Act, or TCJA, of 2017, temporarily boosted the maximum child tax credit to $2,000 from $1,000, an increase that will expire after 2025 without action from Congress.If enacted, the House bill would make the $2,000 credit permanent and raise the cap to $2,500 from 2025 through 2028. After 2028, the credit’s highest value would revert to $2,000, and be indexed for inflation.However, the plan does “nothing for the 17 million children that are left out of the current $2,000 credit,” said Kris Cox, director…
