LVMH shares swung sharply on Tuesday, rising as much as 2% before reversing course to trade 2.56% lower after the luxury group reported second-quarter sales growth broadly in line with expectations. The results offered an important test of whether the $400-billion luxury sector is decisively emerging from a two-year downturn. LVMH is the owner of
The Dow Jones Industrial Average and the S&P 500 ended higher on Monday, while the Nasdaq Composite closed lower as weakness in semiconductor stocks offset gains in other sectors ahead of a pivotal week for corporate earnings, inflation data and the Federal Reserve’s interest rate decision. The Dow gained 262.83 points, or 0.51%, to close
Uber stock price is in a free fall this year and is trading at the lowest level since April last year. It has plunged by over 35% from its highest point since September last year. This retreat has pushed its market capitalization from a record high of $206 billion to the current $134 billion. So,
Top flying car stocks such as Joby Aviation and Archer Aviation have tumbled this year, wiping out billions of dollars in market value. Joby Aviation shares have fallen 48% year to date and 60% over the past 12 months, while Archer Aviation has declined 37% and 57%, respectively, despite both companies moving closer to commercial
US stocks ended mixed on Friday as gains in the Dow Jones Industrial Average were offset by weakness in semiconductor stocks, while investors continued to monitor developments in the Middle East and their potential impact on global markets. The Dow Jones Industrial Average rose 235 points, or 0.5%, supported by a 3% gain in Apple
Spot gold and silver prices moved lower ahead of the North American market open on Thursday. Rising Treasury yields, a firmer US dollar and another sharp increase in crude oil prices outweighed safe-haven demand linked to the ongoing US-Iran conflict. At the time of writing, spot gold was trading near $4,066.82 an ounce. The metal
Alphabet Inc. reported second-quarter results that exceeded Wall Street expectations on earnings and revenue, driven by strong cloud growth, although its search advertising business narrowly missed analyst estimates. The Google parent posted cloud revenue of $24.77 billion for the quarter ended June 30, an 82% increase from a year earlier and ahead of Bloomberg-compiled analyst
US stocks closed sharply higher on Tuesday, led by a strong rebound in semiconductor shares as investors looked past geopolitical tensions in the Middle East and focused on the upcoming wave of Big Tech earnings reports. The Dow Jones Industrial Average rose 384.46 points, or 0.74%, to close at 52,223.72. The S&P 500 gained 0.86%
The US Dollar traded in a narrow range at the start of the week, while major currency pairs showed limited movement. Meanwhile, oil prices advanced amid the absence of any signs of de-escalation in the Middle East crisis. The US Dollar (USD) Index fluctuated below the 101.00 level after posting a two-day rebound at the
Tesla stock dropped to a crucial support level on Friday as traders waited for the upcoming earnings. It also retreated as Xpeng, a top Chinese rival, hinted that it was about to launch a new Model Y killer. TSLA dropped to $380, down by over 23% from its highest point this year. Xpeng hints of