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Home » Stock Market Today: Live Updates
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Stock Market Today: Live Updates

i2wtcBy i2wtcMay 1, 2024No Comments5 Mins Read
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1 hour ago

FTSE 100 starts higher

As of 8:30 a.m. London time, Britain’s FTSE 100 was up 0.2%.

Most European stock exchanges will be closed for the May Day holiday. The regional Stoxx 600 index closed lower on Tuesday, posting its first monthly decline since October.

See chart…

STOXX 600 index.

4 hours ago

Microsoft opens first regional data center in Thailand

Tech giant Microsoft has announced the opening of its first regional data center in Thailand.

The company also announced that it will build new cloud and AI infrastructure in Thailand and provide more than 100,000 people with the opportunity to acquire AI skills.

Microsoft said it will expand the availability of hyperscale cloud services in the data center region, “driving enterprise-grade reliability, performance, and compliance with data residency and privacy standards.”

— Lim Huijie

5 hours ago

Mitsui & Co.’s full-year profit falls 6%, stock price rises after announcement of $1.26 billion share buyback

Japanese trading house Mitsui & Co. reported a 6.4% decline in profit to 1.08 trillion yen ($6.84 billion) for the fiscal year 2023 ending March 31.

Pre-tax profit decreased 6.7% year on year to 1.3 trillion yen, and sales decreased 6.9% year on year to 13.32 trillion yen.

Although business performance deteriorated, the company’s stock rose 1.23%, partly due to the announcement of a 200 billion yen share buyback from May 2nd to September 20th.

Mitsui & Co. will buy back up to 40 million shares, and up to 80 million shares after the stock split on July 1st.

8 hours ago

Money market data suggests possibility of strong yen intervention: Reuters

Citing money market data from the Bank of Japan, Reuters reported that Monday’s sudden appreciation of the yen was likely due to intervention by the Japanese authorities.

The central bank’s forecast for money market conditions on Wednesday revealed net fund receipts of 7.56 trillion yen ($47.91 billion), according to money market data.

Reuters compared this with a money market intermediary’s estimate of 2.05 billion to 2.3 billion yen, excluding interventions, and added that it would take two days to settle currency transactions.

On Monday, the yen fell to a 34-year low against the dollar, reaching 160.03 yen, before appreciating to about 155 yen in a few hours.

8 hours ago

South Korean exports increased significantly in April, exceeding expectations

South Korea’s exports increased by 13.8% in April, compared with a 3.1% increase in March, according to preliminary estimates from the country’s customs authorities.

It also exceeded the 13.7% growth forecast by economists polled by Reuters.

Imports to South Korea rose 5.4%, lower than the expected 6.2% increase and a reversal from March’s 12.3% decline.

As a result, the country’s trade balance shrank to $1.53 billion, down from $4.29 billion in March.

— Lim Huijie

10 hours ago

Utilities was the only S&P 500 sector winner in April.

Of the 11 sectors in the S&P 500, utilities had the slightest gain this month.

Utilities rose 1.6% in April, while 10 other sectors were in the red. Energy was a close second at 0.9%, but consumer staples, another defensive category, fell 1.1%.

The sector’s rally was supported by NextEra Energy, which rose 4.8% in April. Consolidated Edison rose 3.9% and Dominion Energy rose 3.6%.

As investors look for income-producing assets to cushion their portfolios during periods of market volatility, utilities known for their stable dividends could be in the spotlight. Consider that NextEra Energy advertises a 3.1% dividend yield, while ConEd’s dividend yield is his 3.5%.

–Darla Mercado

10 hours ago

BofA said Tuesday that federal funds will not fall as much or as quickly as previously expected.

Bank of America on Tuesday pushed back its expectation that the Federal Reserve would begin cutting interest rates by six months from June to December, increasing the benchmark federal rate by the time the Fed ends its next cycle. The rate has been revised upward based on the view that the fund interest rate will end.

“Given recent stronger-than-expected inflation data, we have revised upward our 2024 inflation outlook and, in turn, our Fed policy outlook,” said US economist Michael Geipen. “We expect interest rate cuts to begin in December, compared to June in the past, and we expect the final rate of the easing cycle to end at 3.5% to 3.75%, up from the previous 3.0% to 3.25%.”

The federal funds rate currently ranges from 5.25% to 5.50%, and BofA’s decision on Tuesday means the bank expects the Fed to cut the rate by more than 7 quarter points, rather than the previously expected 9 quarter point cut. means.

“In short, the signal from recent inflation data is that to bring inflation down to 2.0%, monetary policy will need to be tightened, not just in 2024, but on average over the entire forecast period,” Gapen said. he wrote.

— Scott Schnipper

11 hours ago

Stock prices move significantly after hours

On April 26, 2024, the Starbucks logo will appear on coffee cups.

Jakub Porzycki/ | Nurfoto | Getty Images

Let’s check out the companies that are becoming a hot topic for after-hours trading.

Starbucks — Shares fell nearly 10% in after-hours trading after the coffee chain missed expectations for second-quarter sales and bottom line profits. Starbucks’ earnings were 68 cents per share on revenue of $8.56 billion, lower than analysts polled by LSEG had expected for earnings of 79 cents per share and revenue of $9.13 billion.

Pinterest — Shares rose nearly 19% after first-quarter earnings and sales results. Pinterest reported adjusted earnings of 20 cents per share, beating expectations of 13 cents per share, according to LSEG. Revenue growth also accelerated during the quarter.

Super Micro Computer — Shares fell nearly 8% after Super Micro Computer’s fiscal third-quarter revenue of $3.85 billion fell short of consensus estimates of $3.95 billion, according to LSEG. Adjusted earnings per share came to $6.65, beating expectations of $5.78 per share. The company also announced strong earnings guidance for the fourth quarter.

— Ha-Kyung Kim

11 hours ago

S&P 500 futures open lower on Tuesday



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