As we reach the midpoint of the year, optimism is running high on Wall Street. According to the latest global fund manager survey from Bank of America Securities, investors are the most bullish they have been since November 2021. This positive sentiment is reflected in the record highs seen in both the S&P 500 and
Senator Elizabeth Warren, a Democrat from Massachusetts, has publicly accused Federal Reserve Chair Jerome Powell of bowing to the demands of the financial industry. According to reports obtained by CNBC, Warren criticized Powell for allegedly advocating to cut in half the increase in capital that large American banks would be required to hold under the
Warren Buffett’s investment company, Berkshire Hathaway, has been steadily increasing its stake in Occidental Petroleum over the past nine trading sessions. With consistent purchases made from June 5 to Monday, Berkshire has acquired an additional 7.3 million shares, bringing its total holding to over 255 million shares, equivalent to a 28.8% stake in the Houston-based
In a recent poll conducted by Reuters, a significant majority of economists predicted that the European Central Bank (ECB) will cut its deposit rate twice more this year. The expected months for these rate cuts are September and December. The outlook for these rate cuts remained unchanged from a previous survey, despite the ECB already
Recently, Apple has been facing a slew of challenges under the Digital Markets Act (DMA) enforced by the European Union. Margrethe Vestager, the EU’s competition chief, has highlighted some “very serious” concerns regarding Apple’s compliance with the regulations. The European Commission initiated an investigation in March under the DMA, targeting Apple, Alphabet, and Meta. One
European stock markets have seen a positive trend this week, with the DAX index in Germany, the CAC 40 in France, and the FTSE 100 in the U.K. all trading higher. This rebound comes after a period of uncertainty due to the gains made by right-wing parties in the European Parliament elections. French President Emmanuel
Merck’s newest vaccine, Capvaxive, has recently gained FDA approval for its effectiveness in protecting adults against pneumococcus bacteria. This bacteria is known for causing serious illnesses, including pneumonia, which can be life-threatening. Capvaxive specifically targets 21 strains of the bacteria, offering a unique defense mechanism against pneumococcal disease. This distinguishing feature sets it apart from
Nvidia’s recent surge in value has led to significant changes in the holdings of major technology exchange-traded funds. The Technology Select Sector SPDR Fund (XLK) will be forced to acquire more than $10 billion worth of Nvidia shares, while reducing its holdings in Apple. According to Matthew Bartolini, head of SPDR Americas Research, Microsoft is
China’s recent decision to open an anti-dumping investigation into imported pork and its by-products from the European Union has sent shockwaves through the global food industry. This move, seemingly retaliatory in response to curbs on China’s electric vehicle exports, is expected to have far-reaching implications for European pork producers, particularly those from Spain, the Netherlands,
Global supply chains for rare earths are undergoing a significant realignment in an effort to diversify away from China, the top producer of rare earth materials. This shift is aimed at reducing the West’s dependence on Chinese imports for rare earth compounds, metals, and magnets essential for various industries such as electric vehicles, wind turbines,