Aug 3, 2024 | Markets
Earnings growth has cooled dramatically for Mag 7 so far Investors balked at heavy spending on AI without results After a jam-packed week of earnings reports from megacap technology companies one thing is clear: as profits slow, investors aren’t impressed by...
Aug 2, 2024 | Markets
Tech-heavy Nasdaq 100 falls 2.4%, enters correction territory It’s the third-worst one-day loss for Amazon’s Jeff Bezos Jeff Bezos’s net worth shrank by $15.2 billion Friday, leading a wide-ranging slump that erased $134 billion from the fortunes of the 500 richest...
Aug 2, 2024 | Markets
Tech stocks erase around $3 trillion as volatility spikes up More investors fear a ‘Fed mistake’ and are bidding up hedges For years, Wall Street had it all figured out. If the stock rally is in danger, pile into the Big Tech safety trade. Scared the economy is...
Aug 2, 2024 | Markets
Manufacturing gauges in US, China both showed contractions Brent crude falls below $77 a barrel, lowest since January Oil slumped to the lowest in almost seven months as concerns about demand in the world’s two biggest economies overshadowed heightened geopolitical...
Aug 2, 2024 | Markets
Cattle futures are dropping as a falling stock market prompts worries that consumers will pull back from high-priced beef. Sales of steak typically increase when equity markets rise and with stocks selling off after a weak US jobs report, prices for cattle are...
