As Wall Street gears up for another busy week of earnings reports, it is evident that the current earnings season has been positive so far. With over 160 companies in the S & P 500 expected to post their results, and six of them also being included in the Dow Jones Industrial Average, the halfway
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In March, inflation remained a major concern as the personal consumption expenditures price index continued to show a significant increase. The index excluding food and energy rose by 2.8% from the previous year, matching the rate from February. This exceeded the estimated 2.7% and indicated that price pressures were still elevated. Additionally, the all-items PCE
Venice made history by implementing a tourist fee aimed at reducing the strains of mass tourism on the city and improving the quality of life for its residents. This pilot program charges day-trippers 5 euros for entry between 8:30 a.m. and 4 p.m. local time. Failure to pay this fee can result in fines ranging
In a surprising turn of events, Chinese smartphone company Xiaomi has seen a wave of success with its new electric vehicle, the SU7 sedan. CEO Lei Jun revealed that the company has received over 70,000 orders for the vehicle as of April 20th, nearing its full-year delivery target. Xiaomi’s initial target for this year was
Goldman Sachs’ David Kostin is optimistic about this year’s earnings despite concerns about margin pressures due to higher inflation. He notes that a significant percentage of companies have already reported their earnings for the season, with the majority exceeding expectations on the bottom line. Kostin believes that companies are managing to maintain their margins and
The tech sector is currently experiencing a period of uncertainty, with the chief executive of Norway’s sovereign wealth fund expressing concerns about the “froth” in the market. As tech giants such as Tesla, Meta, Microsoft, and Google parent Alphabet gear up to release their earnings results, investors are eagerly awaiting to see how these companies
The recent historic rains in the United Arab Emirates caused chaos at Dubai’s airport, leading to the grounding of hundreds of flights and leaving thousands of passengers stranded. In response to this situation, the CEO of Emirates airline, Tim Clark, issued an apology letter to customers over the weekend. Admitting Imperfection Clark acknowledged the airline’s
Russia has recently expressed strong disapproval of the U.S. government’s decision to allocate an additional $60.84 billion in support for Ukraine. This move has led Russian officials to believe that the United States is getting increasingly involved in a hybrid war with Russia, ultimately leading to a humiliating defeat comparable to past conflicts such as
The Bitcoin network recently completed its fourth “halving,” marking a reduction in miner rewards from 6.25 bitcoins to 3.125 bitcoins. This event has sparked volatility in the price of bitcoin, with a 4% drop this week to trade around $64,100. While the halving itself should not directly impact the price of bitcoin in the short
The recent strike carried out by Israel on Iran has sent shockwaves through the Middle East, sparking fears of an expanding war in the region. The limited military operation conducted by Israel has raised concerns about the effectiveness of the strike and the potential damage caused. This has led to a significant jump in oil