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Location American Market News for 31 July 2024
Starbucks has a long way to go in its turnaround, but Tuesday night's better-than-feared results are an encouraging step forward.
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AMD shares are getting a much-needed lift after the chipmaker upped the forecast for its AI business.
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We were so close to having an encore of the picture-perfect results we got in Microsoft's prior quarter.
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Handset sales rose 12% on a year-over-year basis, which suggests that a deep slump in smartphone sales over the past two years is abating.
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The decision comes as the company reported a second-quarter net loss of $188 million, or $1.96 per share. Excluding items, it earned 4 cents a share.
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Stocks, Bonds Climb After Fed Meeting

Wall Street Journal - 1 Aug 2024 00:46
The Nasdaq, S&P 500 and government bonds rallied on the final day of July, capping a topsy-turvy month for global markets.
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Bill Ackman Pulls Investment Fund IPO After Shrinking Its Size

Wall Street Journal - 31 Jul 2024 23:45
The billionaire investor originally aimed to raise $25 billion in the offering before lowering the target to around $2 billion this week.
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DuPont shares are headed for their best day since May on the back of stronger-than-expected earnings and a rosier full-year outlook.
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GE Healthcare management continues to execute at a high level on what they can control.
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Boeing's New Pilot Has the Turnaround Job of the Decade

Wall Street Journal - 31 Jul 2024 20:58
The leadership change at Boeing bodes well for the radical transformation that the plane maker requires. But outflying a troubled culture and growing debt pile will be tough.
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Meta is expected to show continued improvement in its digital ads business when the company reports earnings on Wednesday.
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U.S. Crude Oil Inventories Fall for Fifth Consecutive Week

Wall Street Journal - 31 Jul 2024 19:38
U.S. crude oil inventories fell by 3.4 million barrels last week, which was more than expected, amid a rise in exports. Gasoline stocks fell as demand remained buoyant.
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Boeing reported a bigger loss than expected for the second quarter and lower revenue as both its commercial airplane and defense programs continued to struggle.
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20% levy on short-term capital gains has given young F&O traders a tax incentive While the budget 2024 didn't touch F&O, barring a nominal increase in STT, it increased tax on short- and long-term capital gains made from equity mutual funds or stocks.
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ITR filing deadline July 31: How new CBDT portal makes tax filing easier and safer India's digitization drive is set to grow its digital economy six-fold by 2030, with the new income tax e-filing portal enhancing convenience and security, particularly through credit card payments.
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Frequent-churn PMS strategies face tax dilemma as budget hikes capital gains tax Increase in the short-term capital gains tax rate to 20% will significantly impact high-churn PMS strategies, making it harder for them to remain competitive against mutual funds
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Microsoft's AI Dreams Make for an Expensive Reality

Wall Street Journal - 31 Jul 2024 13:30
Blowout capital spending as the company's cloud growth disappoints won't hearten investors.
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HSBC posted a narrow decline in pretax profit in the first half of the year, but beat expectations on the back of a high-interest rate environment.
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Removing indexation on real estate will benefit almost nobody. Here's proof. Calculations show the effective tax under the new regime is only lower if the property's value grows at a CAGR that far exceeds historical averages. .It could also discourage long-term investment in real estate, reducing...
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FTSE surges as Hamas leader's assassination pushes oil prices higher The FTSE 100 leapt higher as trading began after the assassination of the political leader of Hamas in Iran pushed oil prices higher.
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Income Tax: As the ITR filing deadline for FY24 ends tonight, be aware of these key points Income Tax Return: Taxpayers facing any technical problem can contact helpdesk numbers: 1800 103 0025 and 1800 419 0025. They can also send an email to [email protected]
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New HDFC Bank credit card rules: Reward points limited on certain transactions HDFC Bank is capping reward points, implementing new fees for third-party app transactions, and limiting redemptions starting September and October 2024 to curb misuse and high-value transactions.
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