Nvidia forecast beats expectations but crypto mining’s role remains unclear
Nvidia Corp (NVDA.O) forecast second-quarter revenue above analysts’ estimates on Wednesday, but shares fell 1% after-hours as the company could not say for certain how much of its recent revenue rise was driven by the volatile cryptocurrency-mining market.
World stocks to rise modestly, correction unlikely
World stocks will continue to rise this year on robust economic and earnings recoveries but any quickening of inflation would temper that enthusiasm, according to Reuters polls of analysts, a majority of whom said a near-term correction was unlikely.
Wall Street edges up as U.S. bond yields stay tame
U.S. stocks closed out Wednesday’s session with modest gains as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.
American Eagle sees sales rising on pent-up demand for apparel
American Eagle Outfitters Inc (AEO.N) said on Wednesday sales of its jeans and tops was accelerating, after the apparel retailer reported a first-quarter results beat on increased spending, driven by stimulus checks.
U.S. Justice Department starts probe on Archegos collapse – Bloomberg News
The U.S. Department of Justice is investigating the collapse of Bill Hwang’s Archegos Capital Management, which cost big global banks more than $10 billion in losses, Bloomberg News reported on Wednesday.
EXCLUSIVE Delta Air makes $350 million gamble as it lobbies Biden on fuel credits
Delta Air Lines Inc (DAL.N) has stopped buying the credits its oil refining arm needs to comply with U.S. biofuel laws, leaving it with a $346 million liability at the end of the first quarter, as it tries to persuade the White House to ease its obligations, according to previously unreported financial filings and sources familiar with the matter.
U.S. SEC considering new rules to tackle SPACS, crypto tokens
The U.S. Securities and Exchange Commission (SEC) is considering new rules to protect investors amid a surge in the use of special purpose acquisition companies (SPACS) as capital-raising vehicles, its new chair will tell lawmakers.
Wall Street edges up with U.S. bond yields in check
U.S. stocks edged higher on Wednesday as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.
Biden’s EV metals import plan unlikely to match climate goals -executives
The Biden administration’s plan to rely on ally nations for most of the metals needed to build electric vehicles ignores the complexity of modern mining and could keep the United States from meeting aggressive climate goals, according to industry executives.
GameStop, AMC extend rallies, gouging short sellers
Shares of GameStop (GME.N) and cinema operator AMC Entertainment (AMC.N) rallied to their highest levels in months on Wednesday, with some market-watchers saying the recent surge was forcing bearish investors to unwind their bets against the video game retailer.
