Month: November 2022

S&P 500 ends 3-day losing streak. Dow jumps 700 points after Powell signals smaller rate hikes

Stocks posted large gains on Wednesday after Federal Reserve Chairman Jerome Powell confirmed that the central bank would slow the pace of its aggressive rate hike campaign that has weighed on markets. The Dow Jones Industrial Average closed up 737.24 points, or 2.18%, at 34,589.77. Meanwhile, the tech-heavy Nasdaq Composite jumped 4.41% to 11,468.00. The …

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China EV Sales: Xpeng, Nio, Li, BYD Soar Above Key Level As Covid Overhang Starts To Lift

Sales of electric vehicles in China are expected to increase in a seasonal November, with Nio (NIO) is poised to rebound as supply headwinds ease and new models multiply. XPeng (XPEV) shares surged on Wednesday, leading Chinese electric vehicle stocks to surge after a better-than-expected fourth-quarter delivery outlook. More signs emerged on Wednesday of a …

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Dow sheds more than 200 points as investors digest mixed economic signals, await Powell speech

The Dow Jones Industrial Average fell on Wednesday as Wall Street scanned new economic data and awaited an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. The 30-stock index lost 226 points, or 0.7%. The S&P 500 lost 0.3%, while the Nasdaq Composite climbed 0.1%. Traders were hit by conflicting economic reports …

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China’s Zhengzhou, home to world’s largest iPhone factory, ends Covid lockdown

hong kong CNN Business — The city of Zhengzhou in central China, home to the world’s largest iPhone factory, raised a five-day Covid lockdown, in a move analysts called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the site of “iPhone City”, a sprawling manufacturing campus owned by Taiwanese contractor Foxconn …

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Dow Jones Futures: Stock Market Rally Awaits Fed Chief Powell, Key Economic Data

Dow Jones futures rose early Wednesday, while S&P 500 and Nasdaq futures edged higher with Fed Chief Jerome Powell and key economic data at hand. X The stock market rally ended mixed on Tuesday with Apple (AAPL) once again a blow to the main indexes, as well as Amazon.co.uk (AMZN) and You’re here (TSLA). Meanwhile, …

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Airbnb launches first hosting platform for apartment tenants

Airbnb partners with several large landlords and management companies to list designated apartment buildings where tenants are allowed to offer short-term sublets on the site. The company said Wednesday that a new page on its website will list so-called Airbnb-compatible buildings, which will give tenants the option of hosting their apartments the way landlords can. …

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Elon Musk: Twitter is less safe due to new owner’s management style says Yoel Roth, former top official

CNN Business — Twitter owner Elon Musk’s dictatorial management style risks driving the company headlong into unforced business errors, content moderation disasters and the degradation of core platform functionality that helps keep vulnerable users safe, says a former senior Twitter official who led the company’s content moderation before stepping down abruptly this month. The social …

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Sam Bankman-Fried talks about failures, FTX, CFTC, regulation and crypto

Sam Bankman-Fried. Photo: Getty images Sam Bankman Fried he had $100,000 left in his bank account the last time he checked. In an interview, the former FTX CEO pointed to both personal failures and regulatory loopholes to help explain his company’s implosion. why is it important: Bankman-Fried’s Monday Night Phone Interview With Axios Comes As …

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Alzheimer’s disease: Experimental drug Lecanemab appears to slow progression in clinical trial but raises safety concerns

CNN — Le médicament expérimental lecanemab montre un “potentiel” comme traitement de la maladie d’Alzheimer, selon nouveaux résultats de l’essai de phase 3mais les résultats soulèvent des problèmes de sécurité en raison de son association avec certains événements indésirables graves. Lecanemab est devenu l’un des premiers médicaments expérimentaux contre la démence à sembler ralentir la …

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China’s factory activity data misses expectations; Asia-Pacific markets mostly higher

Chinese factory activity beats expectations and contracts for second straight month Official China Manufacture Purchasing Managers Index for November came in at 48, below the 50 point mark that separates growth from contraction. That’s below analysts’ expectations polled by Reuters, who had forecast a reading of 49. October’s PMI was 49.2. PMI readings are sequential …

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