Stock Market Today: Live Updates

Shares of Japanese investment group SoftBank Group rose more than 4% on Tuesday after its Vision Fund posted its first annual profit in three years.

SoftBank booked a profit of 724.3 billion yen ($4.6 billion) from the Vision Fund in the fiscal year that ended in March.

However, for the full year, SoftBank’s overall loss was 227.6 billion yen), smaller than the previous year’s loss of 970.1 billion yen.

Sales increased 2.8% to 6.76 trillion yen from 6.57 trillion yen in the same period last year.

The company also announced that the total dividend for the year will be 44 yen per share, and expects the same level of dividends in fiscal 2024.

— Lim Hui Jie, Arjun Karpal

Bank of Japan data showed business inflation was stable in April compared with the same month a year ago, but import prices soared last month.

Import prices in April rose 6.4% compared to the same month last year due to the weaker yen. This was the largest increase in import prices since March 2023.

Japan’s Corporate Goods Price Index (CGPI), or producer prices, increased by 0.9% last month compared to the same month last year, the same as in March. This slightly exceeded the 0.8% increase expected in a Reuters poll.

CGPI is a measure of the prices that companies charge each other for goods and services.

— Shreyashi Sanyal

India’s consumer price index rose 4.83% year-on-year in April, down slightly from 4.85% in March, slowing for the fourth consecutive month.

This was the lowest inflation rate since June 2023, but slightly higher than the 4.8% expected by economists polled by Reuters.

According to India’s Ministry of Statistics, rural inflation rose more sharply at 5.43%, while urban inflation rose to 4.11%.

The ministry also added that inflation in clothing and footwear, housing, and fuel slowed compared to the previous month.

— Lim Huijie

Utility companies best known for their consistent dividend payments are experiencing a surge in popularity thanks to the excitement surrounding artificial intelligence.

Consider that the Utilities Selective Sector SPDR Fund (XLU) rose 6.8% in May alone, outpacing the Technology Selective Sector SPDR Fund (XLK), which rose 5.2% this month.

AI initiatives in utilities include: AI data centers require large amounts of power. Even as technology companies turn to renewable energy sources, natural gas will play a key role in supplementing electricity needs.

Click here for a list of dividend-paying utilities that could benefit from the excitement of AI, according to Wells Fargo.

–Darla Mercado

Shares of popular meme stocks GameStop and AMC soared in after-hours trading Monday, following a previous day’s rally spurred by the reappearance of “Roaring Kitty.”

GameStop shares rose more than 7%, and AMC soared nearly 15%. The brick-and-mortar video game retailer saw trading suspended several times on Monday due to heightened volatility.

— Brian Evans

Games Global Limited will postpone its initial public offering scheduled for May 14, the company announced on Monday.

The online casino games supplier said concerns about market conditions were the basis for this decision. Games Global plans to issue 14.5 million shares at prices between $16 and $19 per share.

— Brian Evans