Ai Boom Drives Gains for Chip Stocks
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Meta says revenue will be weak as it spends even more on AI
Push to integrate AI into Meta products boosts financial results, but share prices tumble with weak sales forecast. Meta’s drive to integrate artificial intelligence into its products yielded strong financial results for the second quarter in a ...The Guardian - World -
SK Hynix Returns to Profit, Expects Market Recovery on AI Boom
The world’s second-largest memory-chip maker expects a recovery in the memory-chip market this year as it swung to a net profit after five straight quarters of losses.The Wall Street Journal - World -
SK Hynix Returns to Profit, Expects Market Recovery on AI Boom
The world’s second-largest memory-chip maker expects a recovery in the memory-chip market this year as it swung to a net profit after five straight quarters of losses.The Wall Street Journal - Tech -
Boomergasms Are Booming
Dating apps from Feeld to Match have become ground zero for aging singles to unlock their newfound sexual appetites—and a bolder sense of self.Wired - Tech -
U.S. stocks ended mixed, with the S&P 500 eking out a gain of less than 0.1% and the Nasdaq rising 0.1%. The Dow declined 0.1%.
U.S. stocks ended mixed, with the S&P 500 eking out a gain of less than 0.1% and the Nasdaq rising 0.1%. The Dow declined 0.1%.The Wall Street Journal - World -
What's Driving the Bond Selloff?
The yield on 10-year Treasurys jumped above 4.7%. While disappointing growth may boost hope of lower rates, the read on inflation complicates the picture.The Wall Street Journal - World -
What's Driving the Bond Selloff?
The yield on 10-year Treasurys jumped above 4.7%. While disappointing growth may boost hope of lower rates, the read on inflation complicates the picture.The Wall Street Journal - World -
What's Driving the Bond Selloff?
The yield on 10-year Treasurys jumped above 4.7%. While disappointing growth may boost hope of lower rates, the read on inflation complicates the picture.The Wall Street Journal - World -
Biden gains on Trump in series of polls
President Biden is gaining on former President Trump in a series of polls, tying Trump in the race in a new Quinnipiac poll released Wednesday and lending a sense of momentum to his campaign. In the aggregate polling kept by The Hill and Decision ...The Hill - Politics - Joe Biden -
Tesla's Big Rally Drives the Nasdaq Higher
U.S. stocks have rebounded in recent days, after notching their worst week in more than a year.The Wall Street Journal - World -
Southwest Quits Four Airports in Cost-Cutting Drive
The airline expects fewer deliveries of Boeing planes than before, and cited “significant challenges” in achieving growth plans because of it.The New York Times - Business -
Hasbro Shares Gain as Cost Cuts Boost Margins
The maker of Transformers action figures and Monopoly board games said it swung to a profit, even as revenue fell.The Wall Street Journal - World -
Hasbro Shares Gain as Cost Cuts Boost Margins
The maker of Transformers action figures and Monopoly board games said it swung to a profit, even as revenue fell.The Wall Street Journal - Business -
Chinese Financial Services Shares Gain on Consolidation Hopes
Shares of several Chinese financial services companies traded higher Friday on expectations that the sector may see consolidation after state-run Guolian Securities announced its intention to buy another smaller firm.The Wall Street Journal - World - China -
As ketamine therapy booms, industry insiders worry about patient safety
Ketamine has become a popular alternative treatment for depression and other mental-health ailments — but doctors and regulators are increasingly concerned about its risks.MarketWatch - Business -
Bird flu outbreak is driving up egg prices — again
Egg prices are jumping as an outbreak of highly pathogenic avian influenza forces producers to slaughter millions of infected birds.CBS News - Top stories -
US economic growth falls short of expectations with 1.6 percent annualized gain
U.S. economic growth dipped below 2 percent during the first quarter for the first time in more than a year and a half, according to a new government reading released Thursday. Gross domestic product (GDP) grew at an annualized rate of 1.6 percent ...The Hill - Politics -
Rise in all-cash transactions turbo charge price gains for luxury homes
Some 46.8% of luxury homes were bought entirely with cash in the three months ended February 29, the highest share in a decade, according to Redfin.CBS News - Top stories -
Oil Edges Higher Ahead of U.S. PCE Data
Oil prices ticked higher ahead of key U.S. inflation data that will offer more cues on the path of interest rates.The Wall Street Journal - World -
Biden delivers remarks on the CHIPS Act and job growth
Watch live coverage as President Biden delivers remarks on how the CHIPS and Science Act are growing the economy and creating jobs.NBC News - Top stories - Joe Biden -
U.S. Stocks Trade Lower
Stocks gave up early gains and turned lower. Tesla shares rose, helping the Nasdaq. The tech-heavy index has moved between gains and losses ahead of more big-tech earnings, including Meta due after the close.The Wall Street Journal - World -
TSMC Shares Fall After Downgrading 2024 Global Chip Outlook
Shares of Taiwan Semiconductor Manufacturing fell sharply as investors’ worries about the chip maker’s cautious outlook for the industry eclipsed its upbeat first-quarter financial results.The Wall Street Journal - Tech -
Biden celebrates computer chip factories, pitching voters on American 'comeback'
President Joe Biden has arrived in New York state to celebrate a tech company’s plans to build a campus of computer chip factories made possible in part with government supportABC News - Tech - Joe Biden -
Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants
The $6.1 billion for Micron, to shore up the domestic supply of semiconductors, comes after a key union endorsement and passage of an aid bill central to the president’s foreign policy agenda.The New York Times - Top stories - Joe Biden -
Biden, Seeking to Build on Fruitful Week, Announces Billions in Chip Grants
The $6.1 billion for Micron, to shore up the domestic supply of semiconductors, comes after a key union endorsement and passage of an aid bill central to the president’s foreign policy agenda.The New York Times - Business - Joe Biden -
Biden touts achievements from CHIPS and Science Act: Watch live
The Biden administration announced Thursday that it reached a preliminary agreement with Idaho-based semiconductor manufacturer Micron, the latest in a series of investments through the bipartisan CHIPS and Science Act. The investment will ...The Hill - Politics - Joe Biden -
The Chips Act has been surprisingly successful so far
More than halfway through its incentives spending, the US will have far greater scope to manage shocksFinancial Times - World -
FirstFT: Alphabet beats earnings forecast and announces first-ever dividend
Also in today’s newsletter, Macron warns of Europe’s ‘mortal’ threat and how UK’s ‘levelling up’ failedFinancial Times - World -
FirstFT: Alphabet beats earnings forecast and announces first-ever dividend
Also in today’s newsletter, Macron warns of Europe’s ‘mortal’ threat and how UK’s ‘levelling up’ failedFinancial Times - World -
Molson Coors’ gains from the Bud Light boycott have run their course, analysts say
When a conservative-led boycott hit Bud Light’s sales last year, light-beer rival Molson Coors Beverage Co. was among the brewers whose sales increased. But it appears those gains are quickly coming to an end, Citi analysts said Wednesday.MarketWatch - Business -
Ship comes under attack off coast of Yemen as Houthi rebel campaign appears to gain new speed
A ship traveling in the Gulf of Aden has come under attack, the latest assault likely carried out by Yemen’s Houthi rebels over Israel’s ongoing war on Hamas in the Gaza StripABC News - World -
Copper Futures Break $10,000 a Ton, Rising to Two-Year Highs
Copper futures topped $10,000 a ton, hitting a two-year high, buoyed by sanctions on Russian metals, tighter individual market fundamentals and an overall improvement in the health of the global economy, BMI said.The Wall Street Journal - World -
It’s not only AI that hallucinates
Human memory is also fallible but people and machines can learn to complement each otherFinancial Times - Business -
Controversial AI photo comes to the market
UBS donates 166 photographs to DC museum; Brussels fair fights VAT hike; merged galleries open first shows in SpainFinancial Times - World -
Microsoft Earnings Jump on AI Demand
Microsoft’s revenue and profit rose last quarter as artificial intelligence bolstered demand for its software and cloud services.The Wall Street Journal - Tech - Microsoft -
Korean chip maker SK Hynix returns to net profit after five-quarter losing streak
SK Hynix returned to a net profit in the first quarter after a five-quarter losing streak, continuing to ride the artificial-intelligence boom that boosts demand for more advanced and high-end memory chips.MarketWatch - Business -
Chip sector due a May bounce with Nvidia near ‘trough valuation,’ say Bank of America strategists
The big-tech trade is having a wobble. But chip stocks are due a rebound, say Bank of America strategists.MarketWatch - Business -
US wants allies to cut chip-related China exports amid Huawei alarm
Washington urges Japan, South Korea and the Netherlands to tighten supply of tools and technologyFinancial Times - Business - China -
US wants allies to cut chip-related China exports amid Huawei alarm
Washington urges Japan, South Korea and the Netherlands to tighten supply of tools and technologyFinancial Times - World - China -
While Biden Touts Chip Plant Funds, Prospective Workers Wait for Production to Start
The long lag time before U.S. factories start making semiconductors leaves workers waiting, and voters wondering when the payoff arrives.Inc. - Business - Joe Biden