22 minutes ago Pending home sales data set for release Wednesday after opening The latest pending data on home sales is expected to be released Wednesday after the open. Economists polled by Dow Jones forecast a 3% drop in February, compared to an 8.1% rise the previous month. —Sarah Min 25 minutes ago Lululemon shares … Read more
Micron Technology headquarters in Boise, Idaho on March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Check out the companies making headlines on Tuesday at noon. PagSeguro – Shares jumped 5.3% after Citi upgraded Brazilian payment stock to buy from neutral. The company called the company’s fourth quarter results unsurprising and said it was … Read more
An hour ago Japan and the United States announce trade agreement on electric vehicle battery minerals The United States and Japan have announced an electric vehicle battery minerals trade deal that would give Japanese automakers access to the Biden administration’s $7,500 electric vehicle tax credit program in under the Inflation Reduction Act. The announcement added … Read more
Total deal value for the region fell 44%, from $354 billion in 2021 to $198 billion in 2022, Bain & Co said in a report released Tuesday. China and India accounted for a $35 billion drop in total deal value for large growth deals for the year, he said. The Asia-Pacific private equity market fell … Read more
DoubleLine Capital CEO Jeffrey Gundlach said the best way to navigate the extreme volatility in financial markets right now is to sell into market rallies, especially when the S&P 500 hits a certain level. “The optimal strategy is to de-risk on strength,” Gundlach said on CNBC’s “Closing Bell” on Monday. “The markets are so volatile, … Read more
As the cost of borrowing rises, investors should avoid companies that have a lot of debt on their balance sheets, Evercore ISI warned in a note on Sunday. Borrowing costs have risen since the Federal Reserve began raising interest rates last year in an effort to control inflation. Then the banking crisis hit earlier this … Read more
US pharmaceutical giant Pfizer has signed an agreement with China to cooperate in improving the country’s health coverage, according to the company. “We are fully aligned with China’s ‘Healthy 2030’ [initiative] and we try to contribute as much as we can,” Pfizer CEO Albert Bourla told CNBC’s Eunice Yoon on Saturday. Pfizer’s memorandum of understanding … Read more
Direct local government debt topped 120% of revenue in 2022, analysts at S&P Global Ratings said, noting that’s more than Beijing has unofficially declared to be an acceptable level of debt. In the government’s annual activity report published this month, an entire section was devoted to preventing and defusing major risks to real estate and … Read more
28 minutes ago Outflow of deposits from smaller banks has slowed, sources say The movement of deposits from smaller banks to giants like JPMorgan Chase and Wells Fargo has slowed in recent days, sources told CNBC. Customers grew increasingly nervous after the shutdown of Silicon Valley Bank sparked a crisis in the banking industry. While … Read more
Bitcoin held on to new highs this week and saw the biggest inflows of the year, but the rally could wane, investors say. The largest cryptocurrency by market capitalization ended the week up 3.9% at $27,887, according to Coin Metrics, despite a brief dip after the Federal Reserve meeting. Coin Metrics measures a week in … Read more