U.S stocks rise on luxury earnings; rand at record low - BNN Bloomberg

Richemont gained 7.8 per cent to a record, fueling a broad rally across European luxury stocks. S&P 500 futures traded higher after President Joe Biden and House Speaker Kevin McCarthy postponed a meeting on the debt ceiling that was planned for Friday. The delay reflects progress in staff-level discussions, according to people familiar with the talks.

Globally, stock markets have seesawed this week on mixed U.S. economic data and ongoing worries about the debt ceiling. While tech stocks have continued to outperform, with the Nasdaq 100 Index climbing one per cent so far this week, there's plenty of skepticism about the industry. Meanwhile, South Africa's rand sank 1.6 per cent against the dollar to the lowest level on record. President Cyril Ramaphosa is starting an investigation into allegations that the country supplied weapons and ammunition to Russia.

“There's a chink of light — inflation is beginning to show some signs of easing, boosting hopes the Fed's rate hiking cycle is near an end and this means companies can start prioritizing growth, rather than servicing debt,” said Angeline Ong, a financial analyst at IG Group.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks slip as caution prevails before U.S. CPI data - BNN BloombergEuropean stocks and U.S. equity futures edged lower as cautious investors awaited a U.S. inflation report for insights on the path of Federal Reserve rate hikes.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

U.S. stocks edge higher on Fed-pause bets; Disney drops - BNN BloombergU.S. equity futures ticked higher and European stocks rose as more investors said the Federal Reserve is likely to pause interest-rate hikes on the back of cooling inflation data.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Nuvei says Q1 revenue up 20%, but reports loss due to Paya acquisition costs - BNN BloombergNuvei Corp. saw its first-quarter revenue rise 20 per cent compared with a year ago, but recorded a loss for the first three months of the year as it was hit by about US$20 million in costs related to its deal to buy U.S. company Paya Holdings Inc.
Source: BNNBloomberg - 🏆 83. / 50 Read more »