In a recent report by Bank of America analysts, it was revealed that four of the world’s largest semiconductor equipment manufacturers, such as ASML, have experienced a significant increase in their China revenue since late 2022. The report highlighted that China has ramped up its purchases of semiconductor manufacturing equipment in response to tighter export
Finance
Alphabet, the tech giant, experienced a slight decline of 1% in extended trading despite beating both top and bottom line expectations in the second quarter. While the company reported earnings of $1.89 per share on $84.74 billion in revenue, which surpassed consensus estimates of earnings of $1.84 per share on $84.19 billion in revenue, the
The recent surge of money flowing into small caps has caught the attention of many investors and financial experts. Dave Nadig, a prominent ETF journalist and financial futurist, believes that this trend is not just a rotation from winning growth trades. According to him, investors are simply “buying, buying, buying.” This has led to a
In response to increasing trade tensions, top Chinese officials have emphasized the country’s dedication to focusing on its own affairs. Deputy Director Han Wenxiu highlighted the importance of ensuring the stable and healthy development of the real estate market, accelerating the growth of emerging industries, and expanding domestic demand, particularly in consumption. This emphasis on
In the year 2022, President Joe Biden signed the Inflation Reduction Act, which not only had significant rules related to consumer tax breaks for electric vehicles but also included a $7,500 federal EV tax credit that could be accessed by consumers through leasing a car. This tax credit, known as the “qualified commercial clean vehicles”
JD Vance, the chosen running mate of U.S. presidential hopeful Donald Trump, made his stance on China loud and clear during his recent speech at the Republican National Convention. Vance emphasized the need to protect the wages of American workers and prevent the Chinese Communist Party from benefiting at the expense of American citizens. His
Federal Reserve Governor Christopher Waller recently hinted at the possibility of interest rate cuts in the near future, provided there are no unexpected developments in inflation and employment. According to Waller, the current economic data align with the prospect of a soft landing, and he anticipates further data in the upcoming months to support this
Gold prices surged to a record high on Tuesday as anticipation of a September interest rate cut fueled demand for bullion. Gold futures climbed 1.5% to $2,465.30, surpassing the previous peak of $2,454.20 set in May. Spot gold hit an all-time high of $2,465.19 during the session, marking a significant milestone in the precious metal’s
Small-cap stocks have been gaining momentum in the current market conditions, outperforming megacap technology shares. The Russell 2000 index, which serves as a benchmark for small-cap stocks, experienced a notable 1% increase on Tuesday, reaching its highest level since January 2022. This surge follows a trend of positive movement, with the index showing potential for
Deutsche Bank, a prominent financial institution, recently came under scrutiny for incorrectly disclosing deferred tax assets in its 2019 financial statement. The German regulator BaFin emphasized that the declarations on deferred tax assets were incomplete and did not meet international accounting standards. Specifically, 2.076 billion euros worth of deferred tax assets were not disclosed separately