Markets
Fed leaves interest rates steady, says will be 'patient' on future hikes
USA stocks surged on Wednesday (Jan 30) after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors anxious about a slowing economy. Rates traders cut what little positioning remained for a hike in 2019, and are gaining confidence in a 2020 easing. The economic outlook, however, has become more clouded as a result of recent volatility i... [Full Article...]
China protesters scuffle with security as trade talks begin
China is fighting a major trade dispute at the WTO against US and European Union claims that China is not a "market economy" and therefore that its export prices should not be taken at face value when evaluating whether it is trading fairly. [Full Article...]
Fed pledges patience on rate hikes
Statement drops language used in prior statement that had said committee judged some further gradual increases in Fed funds rate would be appropriate. Analysts said investors were also reassured by the United States central bank's clarification of its plans to shrink its portfolio of bonds and mortgage-backed securities. [Full Article...]
Venezuela's Maduro offers to negotiate with opposition
But for all his praise of dialogue, Maduro has been upping the pressure on Guaido as he struggles to retain control of the cash-strapped nation. On Tuesday, Venezuela's Supreme Court-which is loyal to Maduro-imposed a travel ban on Guaido and froze his bank accounts. [Full Article...]
Tesla follows Musk warning with smaller profit than prior quarter
It said it expected to deliver 360,000 to 400,000 vehicles in 2019 - growth of approximately 45% to 65% compared to 2018. Investors heading into Wednesday's results carried concerns about sales for Tesla's higher-priced, more profitable vehicles. [Full Article...]
Years-long extradition process could be ahead for Huawei's Meng Wanzhou
The first indictment relates to the arrest of Huawei CFO Meng Wanzhou in Canada past year. And the charges come as a Chinese delegation led by China's Vice Premier Liu He arrived in Washington to hold trade talks with the US President, Donald Trump . [Full Article...]
Microsoft cloud business booms 20%
Microsoft's sales numbers were ahead of analysts estimates, EPS was $1.08 against the estimate of $1.09 and the revenue was $32.5 billion against the estimate of $32.49B. Microsoft had 33.3 million Office 365 Subscribers. The biggest highlight from this area was Microsoft's Surface hardware business, which saw revenue increase by 39 percent. [Full Article...]
AMD Cites ‘Absence’ of GPU Sales to Crypto Miners in Q1 Estimate
That compares with predictions for sales to increase 6 percent. A crash in prices of cryptocurrencies late in 2018 hit chipmakers including AMD in the prior quarter and led to a pile of inventories that proved hard to clear. As far as the Q4 2018 goes, AMD reported revenue of $1.42 billion, gross margin of 38 percent, operating income of $28 million, net income of $38 million, and EPS of $0.04... [Full Article...]