Author: Press Room
© Reuters By Yasin Ebrahim Investing.com — The S&P 500 cut losses Monday but upside momentum was kept in check by an Apple-infused slip in big tech and jitters about further Federal Reserve tightening following a strong March jobs report. The was down 0.1%, the added 0.2%, or 52 points, and the fell 0.2%. Apple personal computer shipments declined by 40.5% in the first quarter, according to market research firm IDC, impacted by weak demand and high inventory. Apple Inc (NASDAQ:) fell about 2%, with Alphabet Inc (NASDAQ:) and Microsoft Corporation (NASDAQ:) also leading to the downside. Sentiment on growth…
(Reuters) – ENSO-neutral conditions are expected to continue through the Northern Hemisphere spring, followed by a 62% chance of El Niño developing during May-July 2023, a U.S. government weather forecaster said on Thursday. The El Niño phenomenon is a warming of ocean surface temperatures in the eastern and central Pacific, sometimes causing crop damage, flash floods or fires. Read the full article here
By Karen Brettell NEW YORK (Reuters) – The dollar fell and the euro hit a one-year high against the U.S. currency on Thursday after producer prices fell last month, adding to expectations that the Federal Reserve is nearing the end of its tightening cycle. Wholesale prices fell 0.5% in March and core prices dipped 0.1%. Other data showed that the number of Americans filing new claims for unemployment benefits increased more than expected last week, a further sign that labor market conditions were loosening up as higher borrowing costs dampen demand in the economy. The euro reached $1.10470, the highest…
By Howard Schneider WASHINGTON (Reuters) – Jeffrey Haley, the CEO of American National Bank and Trust Company, saw the crunch coming at the start of 2023. Rising interest rates and a slowing economy to him meant that loan growth would likely fall by half as the Danville, Virginia-based community bank turned its focus to better-quality, higher-yielding credit, worrying little about volume. Then a pair of U.S. regional banks abruptly failed in mid-March. Instinct told him things would tighten further, with loan growth plunging to perhaps a quarter of what it was in 2022, when his bank’s loan book grew by…
Plaid, a company known for connecting customers’ bank accounts with fintech apps, is expanding to provide real-time bank transfers. The updated service allows businesses to disburse loan payments, insurance payouts or wages instantly. Plaid’s Transfer service helps businesses, mostly other fintechs, move funds between bank accounts. The product now utilizes the Real Time Payments (RTP) network, a five-year-old money movement platform owned by a consortium of large U.S. banks, allowing for instant bank transfers. Before adding support for RTP, all transactions occurred using the dominant, decades-old system for bank-to-bank fund transfers in America, the Automated Clearing House (ACH). ACH transfers…
Topline Twitter will allow users to trade stocks and cryptocurrencies as part of a new deal with social investing company eToro, CNBC reported Thursday, the latest step towards achieving owner Elon Musk’s expansive vision of transforming the platform into a multifaceted “everything app” in the vein of the Chinese behemoth WeChat. Key Facts Twitter will allow its users to view market charts and buy and sell stocks, cryptocurrencies and other assets from eToro via its mobile app, the social trading platform told CNBC. The partnership will significantly expand the kinds of real-time trading data available to Twitter users, who already…
Abbott (NYSE: ABT) will report its Q1 2023 results on Wednesday, April 19. We expect the company to post revenue and earnings in line with the street expectations. Abbott will see a decline in sales given the forex headwinds and lower Covid-19-related testing demand. Although we expect Abbott to post an in-line Q1, our forecast indicates that ABT stock has some room for growth, as discussed below. Our interactive dashboard analysis of Abbott Earnings Preview has additional details. (1) Revenues are expected to be lower compared to the prior-year quarter Trefis estimates Abbott’s Q1 2023 revenues to be around $9.6…
I’m 38 years old with enough invested for traditional retirement. Here’s how positive peer pressure helped me, and can help you, accelerate your retirement savings. Six years ago, I found myself in $300,000 of debt — including two mortgages — and barely any retirement savings. I’m ashamed to admit the main influencer of my saving and spending habits was to keep up with what I perceived as successful in my social circles. In my twenties, I wanted to be as fashionable as my friends and co-workers. In my thirties, I wanted to have as big a house as my family…
Progressive mayors in Boston and Los Angeles have been joined by Chicago’s Brandon Johnson, all hoping not only to change criminal justice but also spend more on affordable housing, child care, education, and other progressive polices. But these progressives (along with a significant number of centrist mayors) will face serious budget and political challenges that may forestall their ambitions. Chicago’s progressive mayor-elect, Brandon Johnson, won a runoff against Paul Vallas by 2%. Vallas ran on tougher crime policies and against the city’s teachers’ union. In sharp contrast, Johnson was a teachers’ union organizer who in 2020 had supported a resolution…
Bloomberg LP has developed an AI model using the same underlying technology as OpenAI’s GPT, and plans to integrate it into features delivered through its terminal software, a company official said in an interview with CNBC.Bloomberg says that Bloomberg GPT, an internal AI model, can more accurately answer questions like “CEO of Citigroup Inc?”, assess whether headlines are bearish or bullish for investors, and even write headlines based on short blurbs.Large language models trained on terabytes of text data are the hottest corner of the tech industry. Giants such as Microsoft and Google are racing to integrate the technology into…
