Chip stocks set for recovery after DeepSeek shock; Nvidia drops
Chip stocks in the U.S. and Europe rose on Wednesday for a second straight day, recovering from a punishing selloff triggered by China's low-cost DeepSeek artificial intelligence tool at the start of the week. Shares of AI chip leader Nvidia, however, slipped 2.7% to $125.44 and weighed on the Nasdaq. European tech stocks jumped, partly fuelled by a nearly 8% surge in ASML after the Dutch semiconductor equipment maker reported a surprisingly large rise in new bookings.
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Apple downgraded, Rivian initiated: Wall Street's top analyst calls
Apple downgraded, Rivian initiated: Wall Street's top analyst calls
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Credit Skeptics Place a $10 Billion Bet in High-Priced Market
(Bloomberg) -- A small band of Wall Street skeptics are moving to protect their credit portfolios against a market priced like nothing in the economy could possibly go wrong.Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoUS Students’ Reading Scores Drop to Worst in More Than 20 YearsTexas HOA Charged With Discrimination for Banning Section 8 RentersManhattan’s Morning Commute Time Drops With New Congestion
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San Francisco Deputy Sheriffs’ Association Threatens to ‘Recall’ Politicians Who Try to ‘Defund’ Them
The San Francisco Deputy Sheriffs’ Association (SFDSA) threatened to “initiate” a recall of “any politician” …
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Haul out the holly! Rockefeller Center Christmas tree arrives in New York City
The Rockefeller Center Christmas tree arrived in New York City on Saturday, signaling the start …
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Stock hedge funds post big one-day drop in DeepSeek rout, say Goldman data
Hedge fund stock-pickers lost billions of dollars on Monday in a rout in global technology shares sparked by the emergence of a low-cost Chinese artificial intelligence model, according to a Goldman Sachs trading update and industry figures on Tuesday. Hedge funds that pick stocks based on company fundamentals rather than using algorithms to trade systematically were down 1.1% Monday, as markets sank, Goldman's trading desk said, a significant one-day drop for funds that in a good year like 2024 make 15%. Goldman Sachs does not reveal dollar figures for the size of the hedge funds its teams track, but data from hedge fund research group BarclayHedge suggest the losses from Monday's sell-off could tally into the billions.
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Wall Street’s Levered ETF Boom Is Near-$1 Billion Money Spinner
(Bloomberg) -- A popular ETF trade beloved by market speculators is fast turning into a billion-dollar revenue generator for nimble-footed financial firms.Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials NYC Subway’s Most Dangerous Stations Are on Lexington Ave. LineHousing Aid Uncertain After Trump’s Spending Freeze MemoTexas HOA Charged With Discrimination for Banning Section 8 RentersNewsom Enlists Magic Johnson, Guggenheim CEO for LA RebuildingTraders have bee
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Monro (NASDAQ:MNRO) Reports Sales Below Analyst Estimates In Q4 Earnings, Stock Drops
Auto services provider Monro (NASDAQ:MNRO) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 3.7% year on year to $305.8 million. Its non-GAAP profit of $0.19 per share was 35.6% below analysts’ consensus estimates.
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Nasdaq's fourth-quarter profit rises on fintech strength
The company has been expanding outside its market-sensitive core activities of trading and listing to products that help traders navigate compliance requirements and safeguard against financial crimes. Revenue from Nasdaq's financial technology business rose nearly 9.8% in the fourth quarter. Hopes of a soft landing for the U.S. economy, strong equity markets and expectations of a friendlier regulatory environment for deals and offerings under the Trump administration breathed new life into the U.S. IPO market during the reported quarter.
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Trump’s 9-Hour Economic War on Colombia Rattles Emerging Markets
(Bloomberg) -- For most of the time since Donald Trump won office, Colombia appeared safely out of his crosshairs. Preoccupied with the likes of Mexico and China, he barely uttered a word about the country, giving traders in Bogota the confidence to steadily bid up the peso and stock prices. Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials NYC Subway’s Most Dangerous Stations Are on Lexington Ave. LineHousing Aid Uncertain After Trump’s Spending Freeze MemoTexas H
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Gold Market Launches Ledger To Track Bars From Refiner to Vault
(Bloomberg) -- The gold market has launched a digital database to track bullion and keep precious metal from illicit sources out of the market.Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials NYC Subway’s Most Dangerous Stations Are on Lexington Ave. LineHousing Aid Uncertain After Trump’s Spending Freeze MemoTexas HOA Charged With Discrimination for Banning Section 8 RentersNewsom Enlists Magic Johnson, Guggenheim CEO for LA RebuildingThe Gold Bar Integrity Datab
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Brinker International’s (NYSE:EAT) Q4: Strong Sales, Stock Soars
Casual restaurant chain Brinker International (NYSE:EAT) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 26.5% year on year to $1.36 billion. The company’s full-year revenue guidance of $5.2 billion at the midpoint came in 6.1% above analysts’ estimates. Its non-GAAP profit of $2.80 per share was 50.9% above analysts’ consensus estimates.
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ASML Stock Jumps as Strong AI Demand Lifts Bookings
ASML Holding shares are surging 6% in intraday trading Wednesday after the Dutch semiconductor-gear manufacturer reported better-than-expected fourth-quarter results.
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Goldman Strategists Say Tech Selloff Was No Bear Market Signal
(Bloomberg) -- The tech-led selloff in US equities at the start of this week was just a blip, given the positive outlook for the economy, according to Goldman Sachs Group Inc. strategists.Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials NYC Subway’s Most Dangerous Stations Are on Lexington Ave. LineHousing Aid Uncertain After Trump’s Spending Freeze MemoTexas HOA Charged With Discrimination for Banning Section 8 RentersNewsom Enlists Magic Johnson, Guggenheim CEO
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