The U.S. Senate voted 63-36 in favor of a crucial debt-ceiling bill on Thursday night, sending the measure to President Joe Biden to be signed into law. The Fiscal Responsibility Act, which the Republican-run House of Representatives approved on Wednesday night in a 314-117 vote, raises the ceiling for federal borrowing and avoids a market-shaking…
Capri Holdings Ltd.’s stock erased early premarket gains to trade down 2% Wednesday, after the parent of the Michael Kors, Versace and Jimmy Choo brands swung to a loss in its fiscal fourth-quarter as revenue slid more than 10%. Revenue fell at all three brands, and the company CPRI highlighted a challenging environment in its…
While President Joe Biden and House Speaker Kevin McCarthy reached a debt-ceiling deal over the holiday weekend, that doesn’t mean it’s now all smooth sailing. Congress still must give its OK, starting with the Republican-run House of Representatives. Here’s what’s next, as the Treasury Department has called for action by this coming Monday in order…
“‘If we are deprived of the Chinese market, we don’t have a contingency for that. There is no other China, there is only one China.’” — Jensen Huang, chief executive at Nvidia That’s Nvidia Chief Executive Jensen Huang, who said he sees the potential for “enormous damage” to U.S. companies if the chip war with…
Best Buy Co. BBY, +4.28% Chief Executive Corie Barry said last week she expected the downtrend in tech-product demand to bottom out soon, with a rebound in the second half of the year. Executives for chip maker Nvidia Corp. NVDA, +2.54% said their logjam of products that could not find buyers after a pandemic surge…
Wall Street clearly hasn’t seen anything yet. Nvidia Corp., the chip manufacturer that investors can’t seem to get enough of, announced a flurry of dazzling AI-related products over the weekend, including a new supercomputer, alongside plans to make online gaming figures come alive. “We’re now at the tipping point of a new computing era with…
U.K. advertising-holding company WPP is teaming up with U.S. chip giant Nvidia to develop a content engine that uses generative artificial intelligence for digital advertising, the companies said Monday. WPP WPP, +1.20% and Nvidia NVDA, +2.54% said that, by integrating 3D tools with generative AI, the engine will allow creative teams to produce commercial content…
““While some worry that AI may take their jobs, someone who’s expert with AI will.”” Those were the words of Nvidia Corp. founder and Chief Executive Jensen Huang on Saturday, as he gave the commencement address at National Taiwan University in Taipei. Huang told graduates that businesses and individuals alike need to become familiar with…
First-quarter earnings season is just about over for the S&P 500. Then again, with about 20% of the companies having fiscal quarters that don’t match the calendar, it seems the flow of earnings reports never ends. It might seem from media reports that the economy is always facing some sort of crisis, but you may…
U.S. shares of Taiwan Semiconductor Manufacturing Co. rode the wind behind Nvidia Corp.’s record revenue forecast to their best week in nearly a year and a half. TSM TSM, +2.24% shares rose 12% Thursday as Nvidia Corp.’s stock NVDA, +2.54% soared in response to news of a wave on expected sales of chips used for…
If the jam-packed Memorial Day travel conditions have you thinking there must be an investment play in all the chaos, you are right. Post-pandemic wanderlust is real. It is only going to pick up from here. And the trend is not yet fully priced in to travel-related stocks. Here’s more detail on three key business…
President Joe Biden’s team and House Speaker Kevin McCarthy’s deputies are nearing a deal that would raise the U.S. debt ceiling and avoid a market-shaking default, though getting it through Congress quickly could prove tricky. McCarthy has said he’ll follow a rule to post any bill for 72 hours before votes, so that could mean…
A mind-blowing Thursday surge by shares of chip maker Nvidia Corp. that fed a frenzy for artificial-intelligence stock market plays reinforces a cardinal rule for traders, said a technician at a top Wall Street research firm. “Yesterday’s move in NVDA was one for the record books,” said Kevin Dempter, analyst at Renaissance Macro Research, in…
Kneel to your king Wall Street. After forecasting record revenue backed by a “killer AI app,” Nvidia helped deliver a powerful performance for the Nasdaq COMP, +1.71% on Thursday. Indeed, thanks to that chip maker and a few other generals — Microsoft, Apple, Alphabet, etc.— tech is seemingly unstoppable: Top contributors to S&P 500 year-to-date…
On Thursday, Nvidia’s stock took an epic jump among the nation’s corporate giants. In one day, the graphics-chip maker total market capitalization added nearly $184 billion – that’s billion with a b. It is one of the biggest one-day market capitalization gains in American corporate history. Nvidia’s market capitalization was $754.3 billion at the stock…
Nvidia Corp. executives predicted record revenue well beyond anything the company has experienced Wednesday, pushing shares toward all-time highs, as margins improve with AI-driven data-center sales. Nvidia NVDA, -0.49% guided for second-quarter revenue of $11 billion, plus or minus 2%; the chip maker has never before reported quarterly revenue higher than $8.29 billion, which it…
“‘Icahn’s favorite Wall Street saying: “If you want a friend, get a dog.” Over his storied career, Icahn has made many enemies. I don’t know that he has any real friends. He could use one here.’” — Bill Ackman, founder and CEO, Pershing Square Capital Management That was billionaire hedge fund manager Bill Ackman, founder…
The numbers: The biggest part of the U.S. economy sped up in May, S&P Global surveys showed, but manufacturers lagged behind. The S&P Flash U.S. services-sector index rose to a 13-month high of 55.1 in May from 53.6 in the prior month. Most Americans are employed on the service side of the economy: High-tech, health…
Last week, retailers Walmart Inc., Target Corp. and Home Depot Inc. provided broad strokes on how rising prices for essentials have reshaped consumer habits. Now come the finer points, with a whole lot of other retailers — including Dollar Tree Inc. DLTR, -0.37%, Costco Wholesale Corp. COST, -0.32%, Best Buy Co. Inc. BBY, -3.44%, Gap…
Many market experts believe that divergences between different sectors reveal a lot about the underlying health of the market. But not everyone agrees on what those separations mean. Take the current divergence between the Dow Jones Industrial Average DJIA, -0.33% and the Dow Jones Transportation Average DJT, -0.67%. The former has gained 3.5% over the…