Author: starbpo

On Tuesday, Indian stocks crashed after vote counts showed that Prime Minister Narendra Modi’s Bharatiya Janata Party might not get enough votes to win a majority. If that result held, Modi would still be in power, but he would need help from other groups. Following a 3% gain on Monday, the Sensex IN:1 fell 6%, with drops as high as 8%. In early trade before the market opened, the iShares MSCI India ETF INDA went down by 6%. The dollar went up from 83.01 rupees to 83.51 rupees, a rise of 0.56%. Stock exchange data shows that Monday’s gains were…

Early on Tuesday, Nvidia stock was going down. The chip maker lost some of the gains it made when it showed off its next-generation AI hardware, but it is still close to all-time highs. In pre-market trading, Nvidia shares were down 0.4% to $1,145.60. On Monday, the stock ended the day up 4.9%. The 10-for-1 stock split that the company had planned will happen this Friday. Over the weekend, Nvidia CEO Jensen Huang talked about plans for the Blackwell Ultra chip in 2025 and a next-generation Rubin platform for 2026. On Monday, Nvidia stock closed at a new record high.…

According to Jon Faust, a former top assistant to Fed Chairman Jerome Powell, the Israel-Iran confrontation “is a major wild card” for the Fed and could lead to an economic downturn, albeit it is too early to tell how it will end out. “To the extent [the conflict] yields a large rise in oil prices and a further shock to uncertainty, and thereby confidence, is the sort of thing that would tip a slowdown,” Jon Faust, a fellow at Johns Hopkins University’s Center for Financial Economics, told MarketWatch. “Recessions typically follow a shock that severely shakes firms and consumers. One…

CEO Jensen Huang said on Sunday that Nvidia Corp. plans to release a new family of AI chips every year. Huang said that Nvidia NVDA, -0.78% plans to release the Blackwell Ultra chip in 2025 and the next-generation Rubin chip platform with new GPUs and a new Arm-based CPU called Vera in 2026. Huang spoke at a keynote address in Taiwan on Sunday before the Computex trade show. An Nvidia blog post says he said, “Our company has a one-year rhythm.” New chips from Nvidia used to come out about every two years. Huang didn’t give many other details, but…

Bond yields on French debt stayed the same on Monday, even though S&P Global Ratings lowered the country’s rating by one notch because it raised its estimate of the country’s budget deficit. Both the 2-year and 10-year French bonds saw their yields go up and down. The 2-year bond’s yield went up to 3.16% from 3.15%, and the 10-year bond’s yield went down to 3.12% from 3.13%. S&P lowered France’s rating from AA to AA- because the country’s December estimate of a 4.9% budget deficit for 2023 was much lower than the 5.5% of GDP that S&P knew it would…

Indian stocks hit a record high on Monday, after several days of selling. This was because exit polls showed that Prime Minister Narendra Modi’s Bharatiya Janata Party would win the election. Dow Jones Market Data says that India’s BSE Sensex IN:1 rose 3.4% to 76,533, and it’s on track to close at a record high. That beat last week’s record of over 75,000. The Sensex had been going down for five days in a row. INR 83.12, which is almost 0.4% less than the dollar (USDINR, -0.35%). The general election in the country ended on Saturday, and the official counting…

The Delaware State Court said that cancer patients who say the heartburn drug Zantac caused their illness can have jury trials. This caused GSK shares to drop the most in almost two years. FactSet data shows that GSK’s London-listed shares GSK, -9.31% GSK, +1.70% dropped by 9.5%, which was the biggest drop in a single day since August 11, 2022, when they dropped 10.1%. GSK said it would use the decision as an example in court. According to 16 epidemiological studies that looked at data from people who took ranitidine, there is no consistent or reliable evidence that it raises…

On Friday, shares of electric vehicle startup Faraday Future Intelligent Electric Inc. gave up some of the gains they had made in recent weeks. This came after a week of extreme ups and downs, including a record-setting drop. The stock fell the most ever in a single day on Wednesday, but it started to rise again on Thursday. Faraday Future FFIE, +3.20% shares closed Friday up 3.2% on a volume of 219.42 million shares, which was higher than the 65-day average volume of 161.82 million shares. A social network for investors and traders called Stocktwits told BourseWatch that the community’s…

Roaring Kitty is back, and it looks like he has a lot of GameStop stock. In the past month, GameStop Corp. shares GME, +2.34% have gone through the roof since famous trader Keith Gill, also known as Roaring Kitty on X and YouTube, came back to social media. Gill was an important part of GameStop’s 2021 meme-stock craze. Trade in GameStop shares before the market opened nearly doubled to $45.24. An AMC Entertainment AMC, +2.36% stock that is also a meme went up 30%. Gill’s Reddit handle, DeepF—ingValue, posted a screenshot of what looked like his holdings on Sunday. They…

The Federal Reserve has set interest rates where they need to be to lower prices. John Williams, president of the New York Federal Reserve, said this Thursday. Williams said that he thinks inflation will “resume moderating in the second half of this year” in a major speech at the Economic Club of New York. Prices have stayed high for four months in a row, but Williams said this wasn’t the start of a trend. “In general, I think that some of the most recent inflation readings are mostly a return to the unusually low readings of the second half of…