Author: Daniel snow
This photo taken on Nov. 24, 2022 shows the building of Bank of Korea BOK in Seoul, South Korea. South Korea’s central bank on Thursday raised its policy rate to curb inflation, delivering six back-to-back rate hikes for the first time. (Photo by Wang Yiliang/Xinhua via Getty Images)Wang Yiliang | Xinhua News Agency | Getty ImagesSouth Korea’s central bank cut its policy interest rate by 25 basis points Thursday as the country faces a double-whammy of protracted political turmoil and Trump’s sweeping tariffs.The Bank of Korea reduced rates to 2.5% from 2.75%, its lowest level since August 2022, in line…
U.S. stock futures shot higher late Wednesday after a federal trade court ruled that President Donald Trump exceeded his authority in imposing a sweeping raft of global tariffs. Source link
Salesforce on Wednesday reported better-than-expected quarterly results and provided guidance that, on its face, seemed strong. But the market response was muted, as investors discovered what was really driving the improved outlook. Revenue in its fiscal 2026 first quarter rose 8% year over year to $9.83 billion, topping expectations of $9.75 billion, according to LSEG. Adjusted earnings per share (EPS) in the three months ended April 30 totaled $2.58, beating the consensus estimate by 4 cents, LSEG data showed. On a year-over-year basis, adjusted EPS was up 6%. Salesforce’s stock was volatile in extended trading Wednesday night, initially jumping about…
Tesla CEO Elon Musk reacts while wearing a cap with the words “Gulf of America” as he attends a cabinet meeting held by U.S. President Donald Trump at the White House in Washington, D.C., U.S., April 30, 2025. Evelyn Hockstein | ReutersWith his official stint in government coming to an end, Elon Musk thanked President Donald Trump on Wednesday for “the opportunity to reduce wasteful spending.”Since joining the second Trump administration at the beginning of the term in January, Musk has led the Department of Government Efficiency, tasked with slashing the size of the federal government.As a so-called special government…
In a Wednesday interview with CNBC’s Jim Cramer, Nvidia CEO Jensen Huang explained why he thinks it’s necessary to export his company’s artificial intelligence technology to China, saying trade with the country is vital if the U.S. wants to be a global leader in AI.”That’s probably the most important strategic reason to be in China,” Huang said. “Because there are so many developers there and because the world is going to adopt technology from one country or another — and we prefer it to be the American technology stack.”Nvidia posted better-than-expected earnings and revenue Wednesday night, sending shares up in…
Investors are embracing a “keep calm and carry on” attitude as Nvidia shows a healthy business outside of China, with big growth opportunities ahead. Source link
A worker works in a workshop of a textile products manufacturing enterprise in Qingzhou Economic Development Zone in Qingzhou City, Shandong Province, China, on May 10, 2025. Costfoto | Nurphoto | Getty ImagesForget the factory lines for socks, sneakers and T-shirts. U.S. President Donald Trump wants to boost the domestic production of high-tech products, and not apparel or footwear, he told reporters Sunday.However, China is doubling down on its efforts to bolster advanced manufacturing, which could put both countries on a collision course.Just last week, Chinese President Xi Jinping reaffirmed his plans for manufacturing-led growth during a visit to the northern…
Nvidia shares jumped in extended trading Wednesday evening after the AI chipmaker reported better-than-expected quarterly revenue and earnings. It also provided an upbeat view of its current second quarter despite restrictions on what it can sell to China. Revenue in its fiscal 2026 first quarter increased 69% year over year to $44.06 billion, beating the $43.31 billion the Street was looking for, according to estimates compiled by data provider LSEG. Adjusted earnings per share increased 57% year over year to 96 cents in the three-month period ended April 27, exceeding the consensus of 93 cents, LSEG data showed. Both EPS…
U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC.Chip Somodevilla | Getty Images News | Getty ImagesA federal court ruled Wednesday that President Donald Trump exceeded his authority with his reciprocal tariffs, dealing a blow to the president’s economic plan that has roiled markets.Trump is all but certain to appeal, but the ruling by the U.S. Court of International Trade could bring the plan that sparked a , at least temporarily.The judges wrote that the International Emergency Economic Powers Act, a 1977 law that Trump…
CNBC’s Jim Cramer on Wednesday said artificial intelligence will be a major factor in jobs across industries in the future, as the new technology shapes the workforce.”If you want to know what’s going to happen in the future — not the near future, like next week or tomorrow, but next year and beyond — then I think you must factor in artificial intelligence,” he said. “When it comes to employment, both public and private, it might be the most important force out there.”Cramer referenced a recent Axios interview with Anthropic CEO Dario Amodei, who warned that AI could increase unemployment…