The U.S. retail sector is currently facing pressure due to elevated interest rates, causing a mixed performance in the market. While the S&P 500 Consumer Discretionary Distribution & Retail index has seen a 14% increase this year, it is important to note that not all companies within the sector have experienced the same level of
Wall Street
In a recent analysis conducted by Goldman Sachs economists, the potential impacts of U.S. immigration policies on labor force and GDP growth have been closely examined. The report highlights that net immigration to the U.S. saw a significant increase to approximately 2.5 million last year, which had a positive effect on the overall economy by
The global economic outlook, as reported by Citi economists, suggests that major central banks such as the Federal Reserve (Fed), the European Central Bank (ECB), and the Bank of England (BOE) are likely to cut interest rates in September. This forecast is based on the balancing of three key themes: resilient services sectors, persistent inflation
Chinese Premier Li Keqiang made a significant visit to Australia, marking the first visit by a Chinese premier to the major trading partner in seven years. Upon his arrival, Li expressed that relations between the two countries were “back on track.” He emphasized Australia’s unique position in connecting the West and the East, stating that
China Evergrande Group, once the largest property developer in China, was ordered to be liquidated in January after failing to present a viable restructuring plan for its massive debt. As part of the liquidation process, lawyers appointed by the liquidators are now looking into the actions of some of Evergrande’s service providers, including its former
In a recent announcement made by Elon Musk on the social media platform X, Tesla shareholders are shown to have approved a massive $56 billion pay package for the CEO. The vote also included the decision to move the legal home of the electric vehicle manufacturer to Texas. Musk mentioned that the passage of both
The Asian stock market experienced a downturn due to the anticipation of more cues on inflation and the Federal Reserve’s decisions. The news of increased U.S. trade scrutiny against China added to the negative sentiment among investors. This led to most Asian stocks falling, with only a few positive cues from the record-high closes on
The aftermath of the recent U.S. jobs report has led to an interesting scenario in the financial markets. Despite rates resetting higher and the Federal Reserve holding off on cutting interest rates for now, equities have continued to rally. This has led to a situation where equity markets are becoming even more disconnected from the
At the upcoming Apple Worldwide Developers Conference (WWDC) in 2024, Apple is set to unveil its latest advancements in artificial intelligence (AI) integration across its software suite. The tech giant is gearing up to introduce a revamped Siri voice assistant and potentially collaborate with ChatGPT owner OpenAI. This move comes as Apple aims to demonstrate
After the surprising election results, Prime Minister Narendra Modi has now been sworn in for his third term, supported by the National Democratic Alliance (NDA). Despite the Bharatiya Janata Party (BJP) not securing a majority on its own, the NDA coalition managed to secure a total of 293 seats. Under Modi’s leadership over the past