BUSINESS
Traders search for clues behind biggest S&P reversal since April
Some traders pointed to resurfacing concern around whether artificial-intelligence projects are generating enough revenue or profits to justify the massive spending on the technology.
CRYPTOCURRENCY
Bitcoin heading for worst month since crypto collapse of 2022
Bitcoin has now shed about a quarter of its value in November, the most for a single month since June 2022
BUSINESS
China flags off $1.4 billion revamp work on Mao-Era African rail
The line will compete with another — the Lobito Corridor — backed by the US and the European Union, which links the same copper-producing region of Zambia to an Atlantic port on Africa’s west coast
BUSINESS
Intel CEO dismisses concerns about new hire bringing TSMC’s tech
Now valued at more than $1.15 trillion, TSMC has become the undisputed global leader in contract chipmaking, surpassing semiconductor pioneer Intel.
BUSINESS
Japan approves $135 billion stimulus to mitigate inflation pain
Among other measures to counter inflation, about ¥1 trillion was set aside to abolish the gasoline tax, a measure first proposed by opposition parties including the Liberal Democratic Party’s new junior coalition partner Ishin
WORLD
Russian tanker idles near Venezuela after US warship enters path
The Russian vessel, the Seahorse, was en route to Venezuela to deliver a fuel cargo on Nov. 13 when a US destroyer, the USS Stockdale, positioned itself in its path
BUSINESS
‘Baby Shark’ creator’s 62% wipeout sinks stock below IPO price
Pinkfong’s IPO had raised a modest 76 billion won ($53 million), though the debut drew intense interest as investor orders exceeded available shares more than 600 times
BUSINESS
US stocks see big reversal as Nvidia, Bitcoin crushed
Investors remained unsure about the Fed’s scope for policy easing after a mixed — and stale — jobs report. That’s not to mention the continued raft of Fed speakers showing apprehension about further rate cuts.
BUSINESS
Gold set for small weekly decline as rate-cut prospects dwindle
Bullion fell to around $4,065 an ounce on Friday, down about 0.5% for the week
BUSINESS
Traders search for clues behind biggest S&P reversal since April
The S&P 500 has now declined more than 5% from its October record and has fallen below its 100-day moving average for the first time since February.
WORLD
Fed fractures deepen as Michael Barr signals inflation concern
The Fed is, after a long government shutdown, finally receiving new official data, but so far it hasn’t done much to resolve the division among policymakers
BUSINESS
Nvidia downplays bubble fears, though post-earnings rally fades
Nvidia’s third-quarter results also topped analysts’ estimates. Revenue rose 62% to $57 billion in the period, which ended Oct. 26.
BUSINESS
Walmart jumps to Nasdaq in biggest exchange transfer on record
Nasdaq said last year that some 40 members of the S&P 500 have migrated, with 24 of those companies now in the Nasdaq-100 index.
BUSINESS
OpenAI era pushes old-school stock analysts into private markets
Expanding private-asset research comes with challenges, from taking on industry incumbents to figuring out how to monetize insights.
CRYPTOCURRENCY
Crypto world wipes out $1 trillion as Bitcoin plunges anew
The next psychological thresholds lie around $85,000 and $80,000, with the 2025 trough of $74,425 — set during April’s tariff related turbulence — in focus
BUSINESS
Billionaire Muthoot family turns India’s gold obsession into a fortune
Their family-run firm that’s doled out gold loans for almost nine decades is on a roll as consumers take advantage of surging bullion prices to swap jewelry for short-term cash
BUSINESS
Billionaire-backed IndusInd Bank plans sweeping overhaul after probe
IndusInd’s shares have dropped about 12% this year, compared with a 9% rise in the S&P BSE Sensex Index
BUSINESS
Wedding matchmaker Shaadi.com is said to consider IPO
The Mumbai-based firm has held discussions with investment bankers in recent weeks to explore a listing
WORLD
Trump to meet NYC mayor-elect Zohran Mamdani on Friday
The meeting marks the first time the two leaders — and political polar opposites — will come together to discuss how they can work with each other since the election earlier this month
BUSINESS
Asia’s currency-defence war chest has swelled to $8 trillion
The increase has been helped by this year’s decline in the dollar and rally in gold prices.
WORLD
AI-related stocks rally as Nvidia outlook brings relief
The chipmaker at the heart of the AI trade gave a strong revenue forecast, a sign that demand for its products remains healthy
WORLD
Asia stocks rally hard after Nvidia tops estimates, jobs data in view
CEO Jensen Huang touted blockbuster demand for its AI chips from giant cloud providers and shrugged off concerns about an AI bubble
BUSINESS
US stock futures jump after upbeat Nvidia forecast
Nvidia’s sales will be about $65 billion in the fiscal fourth quarter, which runs through January, the chipmaker said in a statement
CRYPTOCURRENCY
Crypto world wipes out $1 trillion as Bitcoin plunges anew
The largest cryptocurrency fell to as low as $88,522 in New York trading, with the latest rout hitting investors big and small
