Defensive Sectors Outperform S&P 500 as Growth Concerns Mount
(Reuters) Utilities sector has returned over 6% this year, while staples have gained 2.5%, against a general 8% decline in S&P 500 as investors turn defensive in a tighter economy.…
Ripple CEO Says Case With SEC Proceeding Better Than Expected, XRP Rises
(Cointelegraph) Ripple CEO Brad Garlinghouse has shown optimism of its case with the US Securities and Exchange Commission, pointing out that the progress has exceeded expectations. Garlinghouse comments come when…
Chinese Mainland Shares Dip as PBOC Defies Expected Rate Cut
(CNBC) Chinese central bank on Friday decided against lowering the interest rates, which dampened the sentiment on shares listed in the mainland. The People’s Bank of China voted to keep…
Oil Traders to Shun Russian Oil From May 15 as Sanctions Mount – Reuters
(Reuters) Leading global trading houses will reportedly cut purchases of crude from Russia’s state-led oil companies from May 15. The reported move comes as the trading companies seek to comply…
Ford Announces a 18.8% Decline in China Vehicle Sales in Q1 2022
(Ford) Ford sold about 125,000 vehicles in China in the first quarter of 2022, a decline of 18.8% from the same period of last year. The fall in the vehicle…
US Mortgage Rises Hits 5%, the Highest in More Than a Decade
(WSJ) US mortgage rate for the 30-year loan is estimated at 5%, up from 4.72% last week and the highest since early 2011. The rise in mortgages happens after remaining…
US Jobless Claims Rose by 18,000 Last Week
(Department of Labor) The US reported a total of 185,000 jobless claims in the week that ended April 9, up by 18,000 from the previous week. On a four-week moving…
Citigroup’s Net Income Drops 46% In the First Quarter of 2022
(Citi) Citigroup reported a net income of $4.3 billion in the first quarter of 2022, a decline compared to incomes of $7.9 billion in the prior year. The lower earnings…
Morgan Stanley Reports $0.4B Decline in Q1 2022 Earnings
(Morgan Stanley) Morgan Stanley earned a net income of $3.7 billion in the first quarter of 2022, a decline from an income of $4.1 billion from the prior year. The…
Twitter Shares Jumps 12% After Elon Musk Offers $54.20 a Share Buyout
(CNBC) Shares of social media giant Twitter rose more than 12% in premarket on Thursday after biggest shareholder Elon Musk offered to take it private at $54.20 a share. Musk…
TSMC Expects Higher Sales Ahead as Q1 2022 Earnings Jump 45%
(TSMC) Taiwan Semiconductor Manufacturing Co. reported a net income of NT$202,733 billion or $7 billion in the first quarter of 2022, an increase of 45.1% from the prior year. TSMC…
Ericsson Stock Falls 6% As Q1 202 Net Income Drops
(Ericsson) Shares of Ericsson fell more than 6% on Thursday after reporting a net income of SEK2.9 billion in the first quarter of 2022, down by 8% from the prior…
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