The number of Americans filing new applications for unemployment benefits unexpectedly declined last week, pointing to stable labor market conditions and a potential rebound in job growth in March, even as global uncertainties persist. Data released by the US Labor Department showed initial claims for state unemployment benefits dropped by 8,000 to a seasonally adjusted
Tencent reported stronger-than-expected results for 2025, with revenue surpassing analyst estimates as artificial intelligence plays a larger role across its business lines. The Chinese technology group is increasingly utilising AI to refine advertising, enhance gaming engagement, and expand its cloud computing unit. The performance highlights how Tencent is evolving beyond its traditional gaming dominance while
The US Federal Reserve meeting outcome later on Wednesday is unlikely to deliver any kind of momentum to gold prices, according to experts. Gold prices on COMEX slipped below the crucial level of $5,000 per ounce on Wednesday, and have not breached the mark again so far. Prices had been trading around the $5,000 mark
US stock futures edged higher on Wednesday as investors turned a bit optimistic with reducing oil prices ahead of the Federal Reserve rate decision today. Futures linked to the Dow Jones Industrial Average were up about 240 points, or 0.5%. The S&P 500 and Nasdaq 100 futures also gained roughly 0.5% and 0.7%. This comes
Software stocks are showing early signs of recovery after months of heavy selling, with analysts debating whether the sector has reached a lasting bottom. The S&P 500 software index logged its strongest weekly performance since May 2025 last week, while the iShares Expanded Tech-Software Sector ETF (IGV) has rebounded about 10% from its February low.
A cross-party parliamentary committee in the UK has called for an immediate halt to cryptocurrency donations to political parties. It warned that existing safeguards are not strong enough to prevent risks to national security and democratic integrity. In a report published on Wednesday, the Joint Committee on the National Security Strategy urged the government to
US stock opened lower on Wednesday after hotter-than-expected inflation data and rising oil prices dampened investor sentiment ahead of the Federal Reserve’s policy decision. Dow Jones Industrial Average fell about 169 points, or 0.36%, while S&P 500 fell 0.31% and Nasdaq 100 declined roughly 0.26%. The cautious tone followed a stronger-than-expected reading on wholesale inflation,
US wholesale inflation accelerated to its highest level in a year in February, adding to concerns that price pressures remained high even before the Iran war began. Data released by the US Labor Department on Wednesday showed the producer-price index (PPI) rose 0.7% month-on-month, up from 0.5% in January and well above economists’ expectations of
Shares of Starbucks came under pressure after RBC Capital Markets downgraded the coffee giant, citing rising labor costs, elevated investor expectations, and uncertainty around margin improvement. The brokerage cut its rating to “Sector Perform” from “Outperform” while maintaining a price target of $105, implying modest upside from current levels. Starbucks shares fell 0.9% to $96.69
Shares of Macy’s surged on Wednesday after the department store chain reported stronger-than-expected fourth-quarter results, driven by improving comparable sales and resilient higher-income shoppers, even as its forward outlook reflected macroeconomic caution. The stock rose more than 7% in trading after the company posted adjusted earnings per share of $1.67 for the fiscal fourth quarter,