Asian stocks traded mixed on Tuesday as the Peoples Bank of China kept its benchmark loan prime rate unchanged following a surprise cut in July. Investors also assessed minutes from the Reserve Bank of Australias August meeting and looked ahead to the release of FOMC meeting minutes and Fed Chair Jerome Powells Jackson Hole Speech...
Home improvement major Lowes Companies, Inc. on Tuesday trimmed its fiscal 2024 earnings and sales outlook below market estimates after reporting weak results in its second quarter. However, the quarterly earnings per share beat the Street view. The company attributed lower-than-expected DIY sales and a pressured macroeconomic environment for the downward revision in annual forecast....
The Swedish krona strengthened against the U.S. dollar in the European session on Tuesday. In economic news, Swedens central bank lowered its key policy rate by a quarter-point as inflation continued to ease amid weakening growth prospects and signaled as much as three more interest reductions this year. The Executive Board of Riksbank decided to...
XPeng Inc. (XPEV), a Chinese smart electric vehicle company, reported Tuesday that its second-quarter net loss attributable to ordinary shareholders was RMB1.28 billion or $0.18 billion, narrower than last years loss of RMB2.80 billion. Adjusted net loss was RMB1.22 billion or $0.17 billion, compared to loss of RMB2.67 billion last year. Net loss per American...
European stocks are likely to open on a firm note Wednesday amid signs of easing Middle East tensions and growing expectations of a Fed rate cut in September. The United States is pushing for a decisive moment for ceasefire negotiations between Israel and Hamas, but a breakthrough appears elusive. All eyes remain on the release...
The U.S. dollar extended its early weakness against other major currencies in the Asian session on Wednesday, as investors awaited revisions to U.S. payrolls data later in the day and the Federal Reserve Chair Jerome Powells speech on Friday. Traders are likely to analyze the minutes of the U.S. Feds latest monetary policy meeting, which...
UK government borrowing in July exceeded the official estimate and also hit the highest for the month since 2021 due to the increase in public spending, data from the Office for National Statistics showed on Wednesday. Public sector net borrowing increased GBP 1.8 billion from the previous year to GBP 3.1 billion in July. This...
European stocks closed higher on Monday, extending recent gains, amid hopes the Federal Reserve will start reducing interest rates from September, and on some monetary easing by central banks in Europe as well. Investors looked ahead to the release of the minutes of the Federal Reserves most recent policy meeting, and Fed Chair Jerome Powells...
The Canadian market is modestly higher Monday afternoon thanks to some strong buying in the materials sector. Real estate and consumer discretionary stocks are among the other gainers in the market where the undertone remains fairly positive amid expectations the Federal Reserve will cut interest rate next month. The benchmark S&P/TSX Composite Index, which climbed...
The Swiss franc strengthened against other major currencies in the European session on Tuesday. The Swiss franc rose to a 6-day high of 0.9519 against the euro, from an early 4-day low of 0.9568. Against the pound and the U.S. dollar, the franc advanced to a 5-day high of 1.1166 and nearly a 2-week high...