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Morgan Stanley names China stocks set to benefit from a ‘sustained rally’
Morgan Stanley says Chinese stocks are set to jump another 10% in the near term as they ride on the wave of stimulus measures and signals announced.
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AI chipmaker Cerebras files for IPO to take on Nvidia
Cerebras faces competition from Nvidia, as well as cloud providers that have developed in-house chips for running artificial intelligence models.
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Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’
The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.
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Lawsuit accuses YouTube of harming youth mental health
Alphabet’s Google, which is also named as a defendant in the case, denied the lawsuit’s claims.
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East Coast port strike: Union rejects 50% wage hike offer as shutdown at midnight nears
A port strike on the East and Gulf coasts among ILA union workers is still set for Tuesday, as a wage hike offer near 50% from port ownership was rejected.
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BlackRock exec says new Ethereum ETF faces ‘narrative’ challenge
Robert Mitchnick says BlackRock plans to educate clients on the benefits of Ethereum ETFs
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CVS is working with advisors on strategic review, sources say
CVS Health’s board has engaged advisors to conduct a strategic review of its business, according to people familiar with the matter.
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Powell hints more interest rate cuts are ahead
“Overall, the economy is in solid shape,” Powell said in written remarks. “We intend to use our tools to keep it there.”
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Mark Zuckerberg loses spot as world’s 3rd richest person to LVMH’s Bernard Arnault
“‘Quiet luxury’ has supported average selling price at the expense of volumes,” Bank of America analysts wrote. “The industry needs to pivot back to creativity.”