Containers reflected in a puddle following a rainfall, at the Yantian port in Shenzhen, Guangdong province, China May 9, 2025. Tingshu Wang | ReutersBEIJING — China’s official gauge for manufacturing activity on Thursday pointed to a worse-than-expected contraction in July amid slower economic growth and ongoing U.S. trade tensions.The Manufacturing Purchasing Managers’ Index for July was 49.3, missing expectations for 49.7 according to a Reuters poll.China’s official manufacturing PMI has been below the 50 mark, reflecting contraction rather than expansion, since April.U.S.-China tensions escalated in April with each side imposing tariffs of more than 100% on imports of goods from…
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The ‘Fast Money’ traders react to Microsoft and Meta earnings. Source link
CNBC’s Jim Cramer explained why an uncertain macroeconomic environment led the Federal Reserve to hold interest rates steady — dashing the hopes of many investors and President Donald Trump.”In short, the backdrop’s just too darned mixed for the Fed to take action,” Cramer said. “That’s also why Powell pretty much punted on that forecast, because who knows what the heck the future’s going to like? Certainly not the Federal Reserve, which is why they’re so reluctant to make a move until they know more.”Stocks slipped on Wednesday as investors digested Fed Chair Jerome Powell’s comments. Powell said higher tariffs have…
Elon Musk has expanded a number of his companies within Texas, including Tesla, SpaceX, the Boring Co. and Neuralink. Tesla broke ground on a lithium refinery in Texas earlier this year with Governor Greg Abbott in attendance.Christophe Gateau | Picture Alliance | Getty ImagesElon Musk’s tunneling venture, The Boring Company, announced plans earlier this week to build a 10-mile underground loop in Nashville, in coordination with Tennessee Republican Governor Bill Lee, who put out a press release praising the project.Democratic lawmakers in Nashville are demanding answers on the plans, while the state’s Republican leaders have jumped at the chance to…
Microsoft shares surged in extended trading on Wednesday after the tech giant reported strong quarterly results, fueled by an acceleration in cloud-computing revenue growth. An upbeat forecast for the current period solidified the stock’s advance. Revenue increased 18% year over year to $76.4 billion in its fiscal 2025 fourth quarter, beating the Street consensus estimate of $73.8 billion, according to data from LSEG. Earnings per share increased 24% from last year to $3.65, ahead of EPS estimates of $3.37, LSEG data showed. With shares up more than 8% in extended trading Wednesday, Microsoft is on track to join fellow Club…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyGene Munster, Deepwater, joins ‘Fast Money’ to talk Meta and Microsoft’s investor calls after both stocks climb on earnings.03:433 hours ago Source link
Asia-Pacific markets start the day mixedAsia-Pacific markets opened mixed Thursday.Japan’s Nikkei 225 benchmark moved up 0.21% while the broader Topix index ticked up 0.28%, as of 8.10 a.m. Singapore time (8.10 p.m. ET Wednesday).In South Korea, the Kospi index fell 0.14% while the small-cap Kosdaq was flat.Over in Australia, the S&P/ASX 200 benchmark fell 0.53%.— Amala BalakrishnerHere are the opening calls for the dayGood morning from Singapore.Investors will be keeping a close watch on South Korean markets after U.S. President Donald Trump announced a blanket tariff of 15% on the country’s exports to the U.S. Japanese markets will also be watched keenly as…
Meta CEO Mark Zuckerberg makes a keynote speech at the Meta Connect annual event, at the company’s headquarters in Menlo Park, California, U.S. September 25, 2024.Manuel Orbegozo | ReutersMeta CEO Mark Zuckerberg plans to continue his company’s artificial intelligence spending blitz well into the next year as rival tech giants do the same.Zuckerberg told analysts Wednesday during a second-quarter earnings call that AI’s rapid pace of progress has informed much of Meta’s recent business decisions, including the company’s $14.3 billion June investment into the data-annotating startup Scale AI as part of a revamped AI strategy involving a wave of high-profile…
Meta Platforms shares soared Wednesday evening after the social media juggernaut delivered what can only be described as a blowout quarter. The only thing better than the reported results was the guidance. Revenue in the second quarter ended June 30 climbed 22% year over year to $47.52 billion, far exceeding the consensus estimate of $44.8 billion, according to LSEG. Earnings per share (EPS) surged 38% on an annual basis to $7.14, crushing expectations of $5.92, LSEG data showed. META YTD mountain Meta’s year-to-date stock performance. Meta shares jumped more than 11.5% to $776 each in after-hours trading, which would easily…
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 closed lower after Federal Reserve Chair Jerome Powell signaled the central bank isn’t ready to lower rates, and what’s on the radar for the next session. Meta, Microsoft and AI growth Meta Platforms shares are up 12% after the bell. Microsoft is up 10% after the bell. Deepwater Asset Management’s Gene Munster was on…
