Latest Business News
Asian Shares Advance Following Nvidia-Led Wall Street Rally
Asian markets rose Thursday after Wall Street's rally driven by Nvidia, which climbed 1.6% on a long-term Meta partnership for AI data centers. Australia's S&P/ASX 200 gained 0.9%, Thailand's SET surged 1.7%, while India's Sensex fell 0.8%.
US futures edged lower as oil prices rose amid rising conflict risks with Iran.
US Stocks Rise on Resilient Economic Data
Wall Street ended higher with S&P 500 up 0.6%, Dow 0.3%, and Nasdaq 0.8%, boosted by strong profit reports and economic indicators. Industrial production improved, durable goods orders exceeded forecasts, and housing starts beat expectations.
This signals a resilient economy ahead of Friday's GDP report.
BlackRock Sees AI Buildout Phase with Winners and Losers Emerging
Markets focus on AI adoption translating to revenues, favoring active investing in US equities amid software selloffs. Mega cap tech firms like Alphabet raise billions for capex, reflecting 'leveraging up' theme amid rising bond supply.
US jobs beat expectations, core CPI met forecasts, supporting extended Fed pause.
eBay Acquires Depop from Etsy for $1.2 Billion
eBay announced a $1.2B cash deal to buy secondhand fashion marketplace Depop from Etsy, expanding its resale offerings. This move targets growing demand in sustainable fashion amid e-commerce shifts.
The acquisition is expected to close soon, boosting eBay's position in Gen Z markets.
Bayer Agrees to $7.25B Settlement in Roundup Cancer Lawsuits
Bayer settled thousands of Roundup weedkiller cancer lawsuits for $7.25 billion, addressing long-standing litigation. The proposed deal aims to resolve claims over the product's alleged links to non-Hodgkin's lymphoma.
This follows previous settlements and reduces ongoing legal uncertainties for the company.
Mark Zuckerberg Testifies in Social Media Addiction Trial
Meta CEO Mark Zuckerberg took the stand in a landmark trial over claims that social media platforms addict minors. The case examines Instagram and Facebook's impact on youth mental health.
Testimony highlights stakes for Meta amid regulatory scrutiny on addictive features.
US Core CPI Meets Expectations, Bolstering Fed Pause Case
January core CPI aligned with forecasts, while jobs data surprised upside, indicating inflation near 3% and restrictive policy ahead. Upcoming core PCE and Q4 GDP could shape rate expectations for AI investments.
10-year Treasury yields hit five-month lows.
Housing Market Shows Glimmers of Hope as Rates Fall
Mortgage rates dropped over a percentage point since last January, offering optimism for the housing sector. Housing starts exceeded forecasts in December, supporting economic resilience.
Analysts see more homes breaking ground amid improving affordability.
BD CEO Embraces Lean Manufacturing and AI for Efficiency
BD's CEO Tom Polen adopts Toyota's lean manufacturing philosophy, leveraging AI and kaizens for operational improvements. This strategy aims to enhance global supply chain efficiency in medical devices.
The approach counters inflation pressures through productivity gains.
US Debt Projected to Balloon Due to Tax Cuts
CBO forecasts surging US debt, partly from Trump-era tax cuts, posing risks to fiscal stability. Ballooning deficits amid large public borrowing challenge bond markets.
This compounds pressures from corporate AI-related issuances.
Bitcoin Dips to $67,000 as Markets Mixed
Bitcoin fell 1.4% to about $67,000 amid broader market movements. Gold gained 0.5%, silver up 1.5%, dollar strengthened vs yen to 155.09.
European FTSE 100 climbed 1.2% on UK inflation data hinting at BoE rate cuts.
Small Businesses Cautious on Tariffs and Economy
US Chamber highlights 50% copper tariffs worrying Tennessee small firms, alongside cautious optimism. Middle market sees growth despite inflation, emphasizing housing and workforce needs.
Free enterprise praised as engine for innovation amid policy pushes.