business news

5 things to know before the stock market opens Monday, December 5

Traders work on the floor of the New York Stock Exchange during morning trading on December 2, 2022 in New York City. Michael M. Santiago | GettyImages Here are the most important news items that investors need to start their trading day: 1. Waiting on the Fed The Federal Reserve’s policy makers don’t hold their …

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Silvergate Capital, MGM Resorts, Bilibili, Murphy Oil & more

A United Airlines terminal at John F. Kennedy International Airport in New York January 24, 2011. Jessica Rinaldi | Reuters Check out the companies making headlines on premarket trading Monday. United Airlines — Shares rose 1% after Morgan Stanley upgraded United Airlines to overweight from equal weight, saying 2023 could be a “goldilocks” year for …

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Tim Draper predicts bitcoin will reach $250,000 despite FTX collapse

Tim Draper, founder of Draper Associates, onstage at the Web Summit 2022 tech conference. Ben McShane | Sportsfile via Getty Images Venture capitalist Tim Draper thinks bitcoin will hit $250,000 a coin by the middle of 2023, even after a bruising year for the cryptocurrency marked by industry failures and sinking prices. Draper previously predicted …

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Carl Pei’s Nothing plans to launch smartphone in the US to take on iPhone

The Nothing Phone (1). Nothing UK-based consumer tech company Nothing is setting its sights on the US, with ambitions of taking it on Apple’s iPhone. The startup, the hardware venture of Carl Pei — co-founder of Chinese mobile phone maker OnePlus — is in early conversations with American carriers about launching a new smartphone in …

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Chinese stocks rally on reopening hope; Morgan Stanley upgrades rating

A pedestrian along a road in Beijing, China, on Monday, Oct. 24, 2022. Source: Bloomberg Bloomberg | Bloomberg | GettyImages Chinese stocks saw sharp gains Monday after major cities in China reportedly further loosened Covid-related restrictions, a positive sign for an economy that has been grappling with strict virus measures for over two years. The …

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Buy Frasers Group and Next plc stock, fund manager says, ahead of recession

London-listed retailers Frasers Group and Next are two clothing retailers that will “dominate” the sector during a recession, according to a veteran Schroders fund manager. Andrew Brough, who runs the Schroder UK Mid Cap Fund, said the two conservatively run companies are well placed to expand and take market share during a downturn through acquisitions. …

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Cramer on hot industrial stocks, and how we’re playing the tech pivot

The market is so possessed by technology that it can’t see the forest through the industrials. If the discourse isn’t about the slowdown in the cloud, it’s about who is pulling out of the now-private Twitter, or how disappointing it is that co-CEO Bret Taylor left Salesforce (CRM). Meta Platforms’ (META) Mark Zuckerberg could sneeze …

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China Covid relaxation, Hong Kong stocks rise

Citizens dine at a restaurant on December 1, 2022 in Guangzhou, Guangdong Province of China. VCG | Visual China Group | GettyImages Shares in the Asia-Pacific rose on Monday as China relaxed virus testing rules in some cities, signaling more easing may come in the nation, which has been under strict Covid-related restrictions for more …

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US ramps up pressure on Netherlands to fall in line with China chip policy

Netherlands Prime Minister Mark Rutte speaks with US President Joe Biden. The US has been putting pressure on the Netherlands to block exports to China of high-tech semiconductor equipment. The Netherlands is home to ASML, one of the most important companies in the global semiconductor supply chain. Susan Walsh | AFP | GettyImages Washington has …

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Goldman Sachs upgrades this global tech giant, saying the stock could rise up to 90%.

Goldman Sachs has identified an emerging opportunity in electric vehicles that’s on an “upward trend,” and revealed a key stock to play it. The trend is the outsourcing of EV manufacturing, which Goldman says will gain pace as vehicles become “ever more technology driven” and simpler to build. In a Dec. 1 report, the investment …

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