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Bitcoin, ether sink to multi-month lows as recession worries take hold
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Oil down $2 as investors digest weak US job data
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Olympics-Equestrian-Britain win team jumping gold ahead of US and France
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London’s FTSE 100 falls over 1% amid global stock slump
European shares tumble as global equity rout amplifies
Date: August 2, 2024
By Pranav Kashyap and Shashwat Chauhan (Reuters) -Europe’s STOXX 600 fell close to 3% on Friday as global equity markets ran into turbulence after a U.S. jobs report exacerbated worries of an economic slowdown in the world’s biggest economy, with financials and tech the worst hit. The pan-European STOXX 600 index dropped 2.7% to 497.85...
Hedge fund investor appetite hit by high fees and private credit, says Goldman Sachs
Date: August 2, 2024
By Nell Mackenzie LONDON (Reuters) -Global investor appetite for the most expensive multi-strategy hedge funds has fallen, Goldman Sachs said in a report to clients seen by Reuters on Friday, though more investors plan to add hedge funds to their portfolios. Goldman Sachs’ data from a survey of more than 300 investors like family offices,...
Walmart’s low price promise in focus after Amazon’s warning
Date: August 2, 2024
By Aishwarya Venugopal and Siddharth Cavale (Reuters) -Walmart’s “Everyday Low Price” promise will be put to the test when it reports quarterly results, after rival Amazon.com’s warning that customers had turned bargain hunters, pressuring the online shopping behemoth to forecast a weak current quarter. Major retailers including Target, sector bellwether Walmart and Kroger have been...
Amazon shares drop on slowing online sales growth
Date: August 2, 2024
By Savyata Mishra (Reuters) -Shares of Amazon.com fell more than 12% on Friday after the company reported slowing online sales growth in the second quarter and said consumers were seeking out cheaper options for purchases. The commentary from the online shopping behemoth is in line with recent value-conscious consumer behavior, ahead of retail giant Walmart’s...
Intel shares set for record loss as turnaround struggle deepens
Date: August 2, 2024
(Reuters) -Intel was set to erase about $35 billion in stock market value on Friday in potentially its worst selloff ever after it suspended dividend and slashed workforce to fund a costly turnaround for its chip-making business. The company’s stock fell about 28% after Intel late on Thursday forecast quarterly revenue below estimates and announced...
Amazon says consumers cautious, forecasts revenue below Wall Street targets
Date: August 2, 2024
By Greg Bensinger and Deborah Mary Sophia (Reuters) – Amazon.com reported slowing online sales growth in the second quarter and said cautious consumers were seeking out cheaper options for purchases, sending shares down nearly 8%. The after-hours stock drop came despite second-quarter profit and cloud computing sales that beat analyst estimates. Amazon shares had gained...