29 minutes ago
UAW says strikes against auto companies ‘likely’
The United Auto Workers union is “likely” to attack strategically against Detroit automakers if a contract agreement can’t be reached by Thursday’s 11:59 p.m. ET deadline, UAW President Shawn Fain said during a Facebook Live event Wednesday. the night.
“If companies continue to negotiate in bad faith… then our strikes will continue to grow… We will hit where we have to hit,” he said.
Ford Stock and General Motors Both were up slightly in pre-market trading.
35 minutes ago
China reduces banks’ reserve ratio to help recovery
China’s central bank said Thursday that Reduce the amount of cash that banks must hold as reserves. for the second time this year to help maintain ample liquidity and support a nascent economic recovery.
The People’s Bank of China (PBOC) said it would reduce the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points starting September 15.
The move came after the world’s second-largest economy struggled after its post-pandemic recovery faltered.
38 minutes ago
US West Texas Intermediate crude nears $90 a barrel
4 hours ago
Treasury Yields Steady as Investors Assess Inflation Data
US Treasury yields Prices were little changed on Thursday as investors considered the inflation outlook after Wednesday’s consumer price index report and awaited more key economic data.
Yields and prices have an inverted relationship. One basis point is equivalent to 0.01%.
|1 million dollars||US Treasury 1 month||5.385%||+0.002||0.00%|
|US3M||US Treasury 3 months||5.474%||+0.002||0.00%|
|6 million dollars||US Treasury 6 months||5.539%||-0.003||0.00%|
|US1 year||US Treasury 1 year||5.423%||+0.005||0.00%|
|US2Y||US 2-year treasury||4.982%||-0.002||0.00%|
|US10Y||US Treasury 10 years||4.258%||+0.01||0.00%|
|US30Y||US 30-year Treasury||4.358%||+0.021||0.00%|
5 hours ago
Shares of Chinese EV makers in Europe fall after EU launches anti-subsidy probe
Shares of Chinese electric vehicle makers in Hong Kong fell after European Commission President Ursula von der Leyen announced an investigation in subsidies granted to electric vehicle manufacturers in China.
All three stocks regained some ground later in the day, although BYD and Nio were still in negative territory.
China Automobile Industry Agency delayed.
The EU needs to “objectively” consider China’s electric vehicle sector and its highly competitive industrial supply chain, China Passenger Vehicle Association Secretary-General Cui Dongshu said, adding that it “firmly” opposes the EU assessment of China’s new electric vehicles.
-Lim Hui Jie
8 hours ago
Softbank Shares Fall Slightly After Arm Prices IPO at $51 Per Share
Softbank shares fell as much as 2.17% in the morning session, before paring some of their losses later in the day.
At $51 per share, Arm’s fully diluted market capitalization, which includes outstanding restricted stock units, is worth more than $54 billion. Arm shares will begin trading Thursday on the Nasdaq.
The UK-based company lists at least 95.5 million American depositary shares on the Nasdaq, and SoftBank, its current owner, will control about 90% of the company’s outstanding shares.
8 hours ago
Australia’s unemployment rate remains stable in August, labor participation increases
Australia’s unemployment rate It remained stable at 3.7% in August, unchanged from the previous month and in line with the expectations of economists surveyed by Reuters.
The number of people employed rose by 64,900 in August from the previous month, as Australia’s labor participation rate hit 67%, compared with an expectation of 66.7% in the Reuters poll.
-Lim Hui Jie
13 hours ago
S&P 500 Financials’ small loss on Wednesday understates decline in regional banks
The S&P 1500 regional banking index fell nearly 2% on Wednesday, but you wouldn’t know it if you looked at just the 0.10% loss in the S&P 500 financial index.
This is because the S&P 500 Financials includes financial data and brokerage companies such as S&P Global, credit services companies such as Visa, capital markets stocks such as Goldman Sachs, insurance, insurance brokers and asset managers.
How weak were the regionals? Truist Financial led the decline, falling 4.6%. Citizens Financial fell 3.3%. OZK bank lost 2.9%. M&T Bank lost 2.7%. Huntington Bancshares fell 2.7%.
In fact, 90 of the 93 regional banks in the index declined on Wednesday.
13 hours ago
Stocks Making the Biggest Moves in Extended Trading
Check out the stocks making headlines in after-hours trading:
Avalo Therapeutics — Shares rose nearly 11% for the day. after the company announced planned to sell rights and assets related to its AVTX-800 series, which treats rare genetic diseases, to AUG Therapeutics.
Semtech Corporation – The chipmaker fell nearly 4% after reporting weak guidance for its fiscal third quarter. Semtech expects an adjusted loss of 22 cents to 19 cents per share, compared with analysts’ forecast of 12 cents per share, according to FactSet. Revenue is expected to reach between $190 million and $210 million, while analysts expected $247.7 million.
— Brian Evans
14 hours ago