KGWV · U.S. MARKET INTELLIGENCE
The 20th Sullivan GIL Summit, an annual AI industry event, is scheduled to open Aug. 4-5, with the start time to be determined. Before European markets open, BP is scheduled to release its earnings report. Caterpillar and other companies are expected to report…
As Canada works to expand its artificial-intelligence infrastructure, a surge in computer components for data centers drove its June imports from the United States to a record C$42.63 billion, or approximately US$30.3 billion. In June, imports of computers and…
To meet regulatory requirements, the Indian government will sell up to a 6.5% stake in state-owned Life Insurance Corp. of India (LIC) at a 10% discount to Monday’s closing price. LIC said in an announcement filed with the stock exchanges on Monday that the sh…
The Philadelphia Semiconductor Index rose more than 5%. SanDisk gained about 8%, while SK hynix and Micron Technology each rose about 7%. Western Digital advanced about 5%.
U.S. stocks opened broadly higher on Aug. 4, with the Dow Jones Industrial Average up 1.17%, the S&P 500 up 0.4% and the Nasdaq Composite up 0.78%. Caterpillar rose 12%, marking its biggest one-day gain since October 2022. Palantir climbed more than 14% after…
U.S. Treasury Secretary Bessent said it would be reasonable for the Federal Reserve to consider expanding the size of its FIMA repo facility. He said the Fed’s FIMA repo facility is no different from foreign-exchange swap lines. Bessent added that he is mainta…
The BlackRock Investment Institute believes the Federal Reserve may not raise interest rates, but says that would do little to curb the rise in long-term U.S. Treasury yields. “We actually think the Fed may stand pat,” said Wei Li, chief investment strategist…
Aston Martin creditors have threatened to sue the automaker after learning that it plans to sell part of its brand and naming rights as part of a disputed £550 million financing deal. The cash-strapped automaker announced last month that it had agreed on a fin…
Saudi Aramco said Tuesday that its second-quarter profit surged, beating market expectations, as the Iran conflict pushed up oil and gas prices. The world’s largest oil company reported adjusted net income of 125.2 billion Saudi riyals ($33.4 billion) for the…
Bank of America strategist Mark Cabana said the selloff in U.S. Treasuries could resume if the Federal Reserve cannot better explain how it plans to achieve its 2% inflation target. Cabana, head of U.S. rates strategy at Bank of America Global Research, said t…