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Tech back in fashion as Asian markets extend rebound
AFP11h agoneutral
Tech back in fashion as Asian markets extend rebound

Asian equities climbed again Wednesday, tracking another record on Wall Street, as tech firms continued to enjoy a revival after a month-long rout, with confidence also boosted by the prospect of an imminent deal to reopen the Strait of Hormuz.Crude tumbled more than five percent Tuesday -- and are down more than 10 percent this week -- after US Treasury Secretary Scott Bessent said a deal could be reached imminently with Tehran on re-opening the Strait of Hormuz to shipping traffic. 

Review & Preview: Floating on Sunshine
Barrons.com14h agoneutral
Review & Preview: Floating on Sunshine

REVIEW PREVIEW NEWSLETTER Good Vibes and Blue Skies. Summer heat and humidity may be setting in, but markets are showing no signs of wilting. The gains keep piling up in the first few days of the August as strong earnings, hopes of a sustained ceasefire in the Middle East and a renewed optimism in AI drove major indices higher on Tuesday.

Even Big Profits Aren’t Enough to Keep Chip Investors Happy
The Wall Street Journal17h agoneutral
Even Big Profits Aren’t Enough to Keep Chip Investors Happy

Korean memory-chip manufacturer SK Hynix late last month booked roughly $65 billion in profit for the quarter ended June 30, a 13-fold increase from last year. Hynix earned almost as much money in 90 days as it had in the prior 29 years since its IPO, total. The reports, though outstanding on basically every measure, still fell short of Wall Street’s sky-high expectations for chip companies.

CVS’s Turnaround Faces Its Next Test
Barrons.com18h agoneutral
CVS’s Turnaround Faces Its Next Test

CVS Health reports earnings Wednesday, with analysts expecting another solid quarter and looking for potential guidance upside from its Aetna insurance and Caremark pharmacy-benefit businesses.

S&P 500 Rides Tech Stock Resurgence to Fresh High
Barrons.com18h agobullish
S&P 500 Rides Tech Stock Resurgence to Fresh High

Wall Street saw a record-setting session on Tuesday thanks to a reignited tech stock rally. The S&P 500 gained 1.8%, breaking out to a fresh closing high, its first record in over two months. Tech stocks led the rally, sending the Nasdaq up 2.6%.