An aerial view of a new city district in southern China’s Nanning city on Feb. 28, 2025.Nurphoto | Nurphoto | Getty ImagesChina on Wednesday set its GDP growth target for 2025 at “around 5%” as it starts its annual parliamentary meeting amid escalating trade tensions with the U.S.Beijing raised its budget deficit target to “around 4%” of GDP from 3% last year.The 4% deficit would mark the highest on record going back to 2010, according to data accessed via Wind Information. The prior high was 3.6% in 2020, the data showed.The government report laid out a plan to issue 1.3…
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President Donald Trump delivers his State of the Union address to a joint session of the U.S. Congress on Capitol Hill in Washington, U.S. January 30, 2018.Leah Millis | ReutersPresident Donald Trump is set to address a joint session of Congress on Tuesday night amid stock market turmoil driven by his stiff new tariffs on Canada, Mexico and China, and the controversy over Elon Musk’s DOGE campaign to slash federal spending and workforce levels.The speech, scheduled to begin at 9:10 p.m. ET, comes on the heels of Trump’s stunning verbal clash with Ukrainian President Volodymyr Zelenskyy in the Oval Office…
A man carrying a kite in the shape of the Chinese national flag walks along the Bund while buildings of Pudong’s Lujiazui financial district in Shanghai, ChinaBloomberg | Bloomberg | Getty ImagesAsia-Pacific markets opened mostly higher Wednesday amid worries over U.S. President Donald Trump’s tariffs and escalating global trade tensions.Australia’s S&P/ASX 200 fell 0.73%.Japan’s Nikkei 225 added 0.25% while the Topix rose 0.28%. South Korea’s Kospi climbed 1.09% while the small-cap Kosdaq advanced 1.26%.Futures for Hong Kong’s Hang Seng index were at 23,014, higher than the HSI’s last close of 22,941.77.Investors will be looking out for announcements coming out of…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
Traders work on the floor of the New York Stock Exchange in the Financial District in New York City on March 4, 2025.Timothy A. Clary | Afp | Getty ImagesU.S. stock futures rose Tuesday night after all three major averages suffered sharp losses for a second session.Futures tied to the Dow Jones Industrial Average rose 273 points, or 0.6%. S&P 500 futures and Nasdaq 100 futures added 0.7% and 0.8%, respectively.The blue-chip Dow tumbled 670.25 points, or 1.55%, to end Tuesday’s regular trading session. The S&P 500 dropped 1.22%, and the Nasdaq Composite shed 0.35%. The tech-heavy Nasdaq had dipped…
Grapes are seen in a vineyard in Ruedesheim am Rhein, western Germany.Kirill Kudryavtsev | Afp | Getty ImagesGlobal wine consumption has been on a steady decline in recent years — and it’s forced the wine industry to adapt. Organic and orange wines, non-alcoholic options and high-end fine vintages are all seeing increased demand, as growing health awareness and rising inflation hit consumer habits.Global wine production is expected to have fallen around 2% last year, hitting its lowest levels since 1961, according to the International Organization of Wine and Vine’s 2024 World Wine Production Outlook. Climate issues and adverse weather events played…
George Kurtz, co-founder and CEO of CrowdStrike Holdings Inc., during a Bloomberg Technology television interview at the RSA Conference in San Francisco on April 26, 2023.David Paul Morris | Bloomberg | Getty ImagesCrowdStrike shares dropped nearly 9% in extended trading on Tuesday after the cybersecurity software provider issued disappointing earnings guidance.Here’s what the company reported compared to LSEG estimates:Earnings per share: $1.03. The number doesn’t to appear to be comparable to analysts’ estimates.Revenue: $1.06 billion vs. $1.03 billionRevenue increased 25% from $845.3 million a year earlier, and the company posted a net loss of $92.3 billion, or 37 cents per share. In…
President Trump made one of the biggest gambles of his presidency Tuesday by initiating sweeping tariffs with no clear rationale on imports from Canada, Mexico and China, triggering a trade war that risks undermining the United States economy.His actions have upended diplomatic relations with America’s largest trading partners, sent markets tumbling, and provoked retaliation on U.S. products — leaving businesses, investors and economists puzzled as to why Mr. Trump would create such upheaval without extended negotiations or clear reasoning.Mr. Trump has offered up a variety of explanations for the tariffs, saying they are punishment for other countries’ failure to stop…
David Zervos, Jefferies chief market strategist, explains why he thinks the tariffs narrative is overblown. Source link
Check out the companies making headlines after the bell : Ross Stores — The off-price retailer inched higher by about 1%. Fourth-quarter earnings surpassed estimates, coming in at $1.79 per share, versus analysts’ call for $1.66 per share, per LSEG. However, Ross sees first-quarter same-store sales ranging from down 3% to flat versus a 3% gain last year. Analysts polled by StreetAccount called for a 2.4% gain. Box — Shares plunged nearly 8% after the cloud company guided for first-quarter revenue of between $274 million and $275 million, while analysts polled by LSEG had expected $279.5 million. However, Box’s fourth-quarter…
