KGWV · U.S. MARKET INTELLIGENCE
By early Friday, Beijing time, U.S. stocks had closed lower Thursday. The Dow Jones Industrial Average ended a five-session winning streak as traders monitored developments in the Middle East. An agreement to reopen the Strait of Hormuz was moving forward, whi…
On Thursday, nine of the S&P 500’s 11 sectors fell, and the index traded below the flat line in afternoon trading. Energy led the gains, rising more than 1% and ranking among the only two sectors to advance. Information technology was the other sector to post…
Firmus said Friday that it raised $2 billion in equity financing in its latest funding round to accelerate the construction of artificial intelligence factories in Australia and the Asia-Pacific region. The financing lifted the company's post-money valuation t…
St. Louis Federal Reserve President Alberto Musalem said policymakers cannot afford to tolerate more inflation while waiting for potentially stronger productivity growth, because inflation remains above the Fed’s 2% target. “Against this backdrop, forceful mon…
CITIC Securities said the “AI eating software” narrative is gradually being disproved. Leading vendors’ revenue and remaining performance obligations continue to grow steadily, and application-software fundamentals have not shown the structural slowdown that t…
Bank of America CEO Brian Moynihan expects the Federal Reserve to begin raising interest rates in September and deliver hikes at each of its three remaining meetings this year. “If the data comes in better than expected—as it did last month—I believe they will…
SpaceX faced its first wave of lockup expirations on Thursday, more than doubling the number of shares available for trading. The stock nevertheless closed up 6.1%, while trading volume surged, outperforming market expectations. SpaceX’s initial public offerin…
U.S. stocks closed broadly lower on Thursday, with the Dow Jones Industrial Average falling 0.85%, the S&P 500 slipping 0.18% and the Nasdaq Composite declining 0.06%. The Dow ended a five-session winning streak. The Roundhill storage ETF fell more than 4%. We…
BlackRock TCP Capital Corp. plans to sell a $523 million private-credit investment portfolio to strengthen its balance sheet, reduce leverage and regain operating flexibility after mounting pressure on the publicly traded lending company. BlackRock TCP Capital…
Their purpose is to allow the Fed to quickly absorb excess dollars from outside the banking system over the short term. They are primarily used to reduce dollar liquidity in the market and serve as the lower bound of the Fed’s interest-rate corridor—the so-cal…