3 hours ago
China’s March industrial production and retail sales data fall short of expectations
China’s industrial production for March rose 4.5% year on year, beating Reuters expectations for a 6% expansion.
China’s manufacturing industry grew 5.1 percent while its mining industry grew 0.2 percent, according to the National Bureau of Statistics. The country’s electricity, heat, gas and water production and supply industry grew by 4.9%.
The country’s retail sales, a gauge of its consumption, rose 3.1% year-on-year, less than expectations for 4.6% growth. The figure also slowed from the previous month’s figure of 5.5% growth.
—Lee Ying Shan
4 hours ago
China’s economy grew 5.3 pct in first quarter, beating expectations
China’s economy grew 5.3 percent in the first quarter from a year ago, faster than the 4.6 percent growth expected by economists polled by Reuters.
Data released by China’s National Bureau of Statistics showed that gross domestic product in the January-March period was higher than the 5.2% growth in the fourth quarter. Quarter-on-quarter, China’s GDP increased by 1.6% in the first quarter.
Beijing has set a growth target of around 5% for 2024.
—Lim Hui Jie
6 hours ago
Yen falls to lowest level since June 1990 as it crosses 154 mark against greenback
The Japanese yen fell to its lowest level since June 1990, crossing the 154 mark against the US dollar.
The yen has been firmly above the 150 mark since the Bank of Japan raised interest rates on March 19, with Japanese officials repeatedly saying that “all options are on the table” to counter the excessive fluctuations in the yen.
On April 4, former foreign exchange diplomat Hiroshi Watanabe said authorities would not intervene until the yen rose above 155 against the greenback, according to Reuters.
8 hours ago
Live Nation Entertainment Shares Slump After Hours
Shares of Live Nation Entertainment fell more than 7% in extended trading after The Wall Street Journal, citing close sources, reported that the U.S. Department of Justice plans to sue Ticketmaster’s parent company in the weeks to come. The antitrust lawsuit alleges that Live Nation used its power and influence in concert promotion to undercut competition, according to the report.
Live Nation shares have gained more than 6% this year.
See the table…
Live National Entertainment
8 hours ago
The VIX, Wall Street’s “fear index”, closes at its highest since the start of the bull market in late October
The VIX index closed Monday at its highest level since October 30, 2023, suggesting that Wall Street expects further price swings in the days and weeks to come.
The Chicago Board Options Exchange Volatility Index, known as a gauge of investor nervousness, ended Monday at 19.23 after hitting 19.46, the highest intraday since Oct. 31, 2023.
Sometimes called the “fear index,” the VIX has surged since closing at its year-low of 12.44 on January 11. The VIX has touched successive highs over the past three trading sessions.
The last time the VIX reached levels higher than Monday was in late October, just as the current stock market rally was beginning.
-Scott Schnipper
8 hours ago
Opening of stock futures little changed
U.S. stock futures opened little changed late Monday.
Dow Jones Industrial Average futures rose 19 points, or 0.05%. S&P 500 and Nasdaq 100 futures rose 0.02% and 0.07%, respectively.
-Sarah Min
News Source : www.cnbc.com
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