Micron to invest $40 billion in US chip manufacturing

Micron to invest  billion in US chip manufacturing

Sanjay Mehrota, CEO, Micron Scott Mill | CNBC Micron announced on Tuesday that it would invest $40 billion by 2030 to manufacture chips in the United States. The investment is supported by grants and credits from the CHIPS and Science Act, which President Joe Biden will sign into law on Tuesday. Micron said it will … Read more

Slowdown in US, Europe and China could hurt Asian exporters (HSBC)

Slowdown in US, Europe and China could hurt Asian exporters (HSBC)

Asian exporters will face significant challenges as demand from major markets like the United States, Europe and China slows in the coming months, according to HSBC’s chief Asia economist. European manufacturers are already shrinking quite significantly, especially in Germany, Frederic Neumann told CNBC’s “Squawk Box Asia” on Monday. “Recall that Europe is a major export … Read more

Attention turns to US inflation and Fed outlook

Attention turns to US inflation and Fed outlook

LONDON — European markets were slightly lower on Tuesday as attention in global markets turns to a key print of US inflation expected on Wednesday. The pan-European Stoxx 600 slid 0.3% by mid-morning, with travel and leisure stocks shedding 1.2% to lead the losses while insurance stocks gained 0.5%. Investors are trying to gauge the … Read more

Treasury Crackdown on Tornado Cash Punishes Honest Crypto Investors

Treasury Crackdown on Tornado Cash Punishes Honest Crypto Investors

A tornado is seen over a field in D’arcy, Saskatchewan, Canada on June 15, 2021. Neil Serfas | via Reuters The Treasury Department crackdown on Tornado Cash was aimed at stopping the criminals. But many ordinary crypto investors with honest intentions are now in danger. “Every American will need to be very careful when transacting … Read more

High-quality stocks oversold as market headwinds fade

High-quality stocks oversold as market headwinds fade

The S&P 500’s blistering streak continues after a third straight week of gains and a 9.1% rise in July. Add to that a better-than-expected earnings season and strong economic data, and the market could be poised to move on from a dramatic first half. That’s certainly a view shared by Morningstar’s chief US market strategist, … Read more

Stock futures rise slightly as Wall Street awaits inflation data

Stock futures rise slightly as Wall Street awaits inflation data

Traders on the floor of the NYSE, August 1, 2022. Source: NYSE U.S. stock futures edged higher on Tuesday morning after Wall Street weighed the outlook for chip stocks, and anticipated more earnings results and inflation data that will determine the pace of future rate hikes of interest. Dow Jones Industrial Average futures added 62 … Read more

The FAO Food Price Index fell sharply in July, but the respite may not last

The FAO Food Price Index fell sharply in July, but the respite may not last

Farmers harvest a wheat field near Melitopol in Ukraine. Wheat, soybean, sugar and corn futures have fallen from their March highs to prices seen in early 2022. Olga Maltseva | AFP | Getty Images According to the latest figures from the Food and Agriculture Organization of the United Nations, food prices fell significantly in July … Read more

Nearly 500 US flights canceled and nearly 2,000 delayed on Monday

Nearly 500 US flights canceled and nearly 2,000 delayed on Monday

CNN Business — After a miserable weekend for travel, Monday isn’t looking much better. Another wave of airline cancellations and delays is wreaking havoc on passengers across the United States on Monday. According to flight-tracking website FlightAware, nearly 500 US flights had been canceled as of midday Monday. On Sunday, 950 flights were canceled. Nearly … Read more

Stock futures rise after S&P 500’s third straight winning week

Stock futures rise after S&P 500’s third straight winning week

Stock futures rose Monday morning after the S&P 500’s third consecutive weekly gain, as investors focused on a key inflation report this week. Dow Jones Industrial Average futures gained 139 points or 0.4%. S&P 500 and Nasdaq 100 futures rose 0.5% and 0.6% respectively. Monday’s gain followed a weekly rise in the S&P 500 and … Read more

Treasury yields in focus after strong job growth data

Treasury yields in focus after strong job growth data

U.S. Treasury yields fell on Monday after surprisingly strong jobs data raised the likelihood of aggressive rate hikes by the Federal Reserve. The yield on the benchmark 10-year Treasury fell 4 basis points to around 2.7993%, while the yield on the 30-year Treasury fell 2 basis points to 3.0383%. Yields move inversely to prices and … Read more