Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the U.S. Federal Reserve, while the Treasury yield curve flattened further with 30-year yields dropping below 2%.
The dollar dipped on Monday against major currencies, but broadly held most of the previous week’s gains after the Fed’s surprise hawkish tilt.
Volvo Car Group, owned by China’s Geely Holding (GEELY.UL), announced plans on Monday for a joint venture with Swedish battery maker Northvolt to develop sustainable batteries for its electric cars and set up a gigafactory for production.
Billionaire investor William Ackman’s Pershing Square Tontine Holdings (PSTH.N) signed a deal to buy 10% of Universal Music Group (UMG), Taylor Swift’s label, for about $4 billion, the companies said on Sunday.
The Federal Reserve’s hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.
With fiscal spending booming and households flush with cash, investors are betting that the Bank of Canada’s next tightening cycle, expected to begin in 2022, will result in interest rates climbing above the previous peak for the first time in decades.
Shares of companies controlled by Indian billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost 1.91 trillion Indian rupees ($25.83 billion) of value over five days through Friday.
Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.
Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.
A bipartisan group of U.S. senators on Thursday proposed a 25% tax credit for investments in semiconductor manufacturing as Congress works to increase U.S. chip production.
Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the U.S. Federal Reserve, while the Treasury yield curve flattened further with 30-year yields dropping below 2%.
The dollar dipped on Monday against major currencies, but broadly held most of the previous week’s gains after the Fed’s surprise hawkish tilt.
Volvo Car Group, owned by China’s Geely Holding (GEELY.UL), announced plans on Monday for a joint venture with Swedish battery maker Northvolt to develop sustainable batteries for its electric cars and set up a gigafactory for production.
Billionaire investor William Ackman’s Pershing Square Tontine Holdings (PSTH.N) signed a deal to buy 10% of Universal Music Group (UMG), Taylor Swift’s label, for about $4 billion, the companies said on Sunday.
The Federal Reserve’s hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.
With fiscal spending booming and households flush with cash, investors are betting that the Bank of Canada’s next tightening cycle, expected to begin in 2022, will result in interest rates climbing above the previous peak for the first time in decades.
Shares of companies controlled by Indian billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost 1.91 trillion Indian rupees ($25.83 billion) of value over five days through Friday.
Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.
Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.
A bipartisan group of U.S. senators on Thursday proposed a 25% tax credit for investments in semiconductor manufacturing as Congress works to increase U.S. chip production.
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