The exchange-traded fund industry has witnessed a surge in inflows in 2024, surpassing monthly records. Managers are closely monitoring the potential impact of the money market fund boom on ETF inflows for the rest of the year. According to Nate Geraci, president of The ETF Store, the $6 trillion plus parked in money market funds
Finance
China’s former head of the People’s Bank of China, Yi Gang, emphasized the importance of focusing on boosting domestic demand during the Bund Summit in Shanghai. He highlighted the need to combat deflationary pressure and improve confidence in society. Yi stressed the significance of utilizing proactive fiscal policy and accommodative monetary policy to address the
In the premarket session, several companies made headlines due to their stock performance. C3.ai faced a significant decline of 19.2% after reporting weaker-than-expected subscription revenue. Frontline Communications also experienced a drop of 9.7% following Verizon’s announcement of acquiring the company in a $20 billion all-cash deal. On the other hand, Tesla saw a rise of
The semiconductor industry in Asia experienced a downturn on Wednesday morning as a result of the steep decline in Nvidia’s share price in the U.S. This drop had a ripple effect on other semiconductor stocks, leading to a sell-off on Wall Street. The economic data released on Tuesday added to the already existing concerns about
The recent findings of the Milken Institute’s best performing cities China index have shed light on the significant impact of China’s property struggles and U.S. sanctions on its cities. Hangzhou, the capital of the eastern Zhejiang province and home to tech giants like Alibaba, emerged as the top-ranking city in the latest index. The city’s
Since the onset of the pandemic, there has been a significant increase in travel spending among American households. This trend has been driven primarily by a renewed interest in international vacations, according to recent research by the Bank of America. One of the key factors contributing to the surge in travel spending is the growing
PDD’s recent plummet in stock value has raised concerns about the overall health of the Chinese consumer market. With a weakening economy and uncertain consumer sentiment, the company’s disappointing quarterly results have sparked a wave of doubt. However, despite the stock price decline, PDD’s revenue and profit have shown significant growth, leading some analysts to
The discount retailer Dollar General faced a major setback as its shares plummeted nearly 30% due to the company slashing its sales and profit guidance for the full year. CEO Todd Vasos attributed the softer sales trends to financially constrained core customers. This disappointing performance also had a negative impact on competitor Dollar Tree, whose
Recent visits from U.S. government researchers to the Sangdong Mine in South Korea reveal efforts to boost the supply of tungsten, a critical metal essential for various industries. The mine, owned by Almonty Industries, has the potential to produce 50% of the world’s tungsten supply outside of China, which currently dominates over 80% of the
In a strategic move towards the future of electric vehicles, Volkswagen announced a $700 million investment in Xpeng in July 2023. This collaboration aims to develop two new electric cars specifically for the Chinese market by 2026. The vehicles will be based on the platform of Xpeng’s G9, a popular midsize electric crossover SUV. This