53 minutes ago
China's services sector activity expands at fastest pace since December
Activity in China's service sector expanded at the fastest pace since December, according to Caixin research.
China's Services Purchasing Managers Index was 52.7 in March, up from 52.5 in February. This is also his 15th consecutive month of expansion in this sector.
Caixin said in its report that this was due to an increase in new business in the sector, with anecdotal evidence showing that “improved underlying demand conditions and business development efforts supported the increase in new business.” The report states that.
— Lim Huijie
50 minutes ago
TSMC evacuates factory area after earthquake in Taiwan
The Taiwan Semiconductor Manufacturing Company logo appears on a screen on the floor of the New York Stock Exchange on September 26, 2023.
Brendan McDiarmid | Reuters
Taiwan Semiconductor Manufacturing Company evacuated its production line after a major earthquake hit Taiwan in the early hours of Wednesday.
A company spokesperson said the safety systems were working properly.
“To ensure the safety of employees, some factories were evacuated in accordance with company protocols,” the official said.
TSMC stock was down 1.5% in early trading, while the broader Taiwan-weighted index was down 0.9%.
— Shreyashi Sanyal
1 hour ago
Uniqlo owner Fast Retailing falls 4% to a two-week low
Fast Retailing shares fell more than 4% to a two-week low after the company revealed that same-store sales at Japan's Uniqlo stores fell in March. The company is the largest component of the Nikkei 225 index.
The company opened five stores in Japan in March, but eight stores have closed.
Same-store sales, including online sales, were down 1.5% from the same month last year, but total sales in March were up 1%.
Fast Retailing explained that the reason for the decline in sales was “sales of spring items were sluggish due to the continued cold weather throughout the month.'' [in Japan]. ”
1 hour ago
Country Garden sales plunged more than 80% in March
3 hours ago
CNBC Pro: Feeling FOMO on Reddit or Truth Social? Here's another way to cash in on meme stocks
From the GameStop craze of 2021 to the recent surge in Reddit and Truth Social stocks, many investors are probably afraid of missing out on these seemingly lucrative opportunities (FOMO).
But for investors who can't stomach the risks associated with meme stocks, there are lower-volatility ways to take advantage of this trading phenomenon, said Hannah Gooch Peters, global equity investment analyst at Sanlam Investments.
CNBC Pro subscribers can read more about these stocks here.
— Ganesh Rao
3 hours ago
CNBC Pro: 'Great market': Strategist names one hot stock to watch in Japan right now
Several investors have taken a positive view of Japanese stocks over the past few months, and market strategist Matt Orton is no exception.
“Japan has been a great market overall…Japan is one of the top markets in the Asian stock market complex,” the chief market strategist at asset management firm Raymond James Investment Management said on CNBC's “Squawk Box Asia” on April 1. He was a top performer.”
A lesser-known name stands out as a good play for him right now.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
8 hours ago
Fed's Mary Daly still expects three rate cuts in 2024
San Francisco Federal Reserve President Mary Daley speaks at an event at the Brookings Institution in Washington, DC, on July 10, 2023.
Zhang Haiyun | Bloomberg | Getty Images
San Francisco Fed President Mary Daly said Tuesday that she still expects three rate cuts this year, although this is not a certainty.
“I think this is a very reasonable baseline, but what I'm saying here is, this is a prediction, right?” Daley said during a panel discussion in Las Vegas. “Three interest rate cuts are a prediction, and a prediction is not a promise.”
Daley, who is this year's voter on the Federal Open Market Committee, which decides interest rate settings, also said he was unmoved by Monday's report showing the manufacturing sector expanded in March for the first time in 16 months. Ta. Instead, she said she and her fellow policymakers are looking at a wide range of indicators.
“I have a path in my mind where interest rates start to adjust this year. We're not there yet,” he said.
— Jeff Cox
9 hours ago
Energy ETFs reach their highest value in about 10 years
See chart…
iShares Global Energy ETF