Stocks looked set to rise on Tuesday as investors continued to buy the dip, taking advantage of last week’s artificial intelligence selloff to snap up shares in tech companies on the cheap. The Nasdaq and the S&P both rallied on Monday as the market piled back into chip makers and other momentum stocks. The dip-buying may well have legs, although it’s possible that either consumer-price inflation ...
Stocks looked set to rise on Tuesday as investors continued to buy the dip, taking advantage of last week’s artificial intelligence selloff to snap up shares in tech companies on the cheap. The Nasdaq and the S&P both rallied on Monday as the market piled back into chip makers and other momentum stocks. The dip-buying may well have legs, although it’s possible that either consumer-price inflation data or quarterly earnings from Oracle on Wednesday could snap the rebound.
Senegal’s public finances are under pressure and failure to win fresh support from the International Monetary Fund will harden concerns about its outlook, S&P Global Ratings warned. “They have very high financing needs,” Zahabia Gupta , head of emerging markets credit research, said in an interview with Bloomberg Television on Tuesday. “If they don’t get an IMF program that could raise more questi...
Senegal’s public finances are under pressure and failure to win fresh support from the International Monetary Fund will harden concerns about its outlook, S&P Global Ratings warned. “They have very high financing needs,” Zahabia Gupta , head of emerging markets credit research, said in an interview with Bloomberg Television on Tuesday. “If they don’t get an IMF program that could raise more questions around longer-term financing.” The company has a negative outlook on Senegal’s long-term foreign currency rating of CCC+ that signals the country is vulnerable to nonpayment of its debt obligations. A staff mission from the Washington-based lender is scheduled to visit Dakar next week to discuss a new program, after it suspended a previous $1.8 billion facility in 2024 following the discovery of billions of dollars in hidden debt. Read More: Senegal Makes Foreign-Currency Bond Payments Before IMF Visit The West African nation has been effectively locked out of international capital markets since that revelation and investors have shunned its foreign currency bonds, forcing yields sharply higher as they bet it will need to restructure its debts to secure more IMF aid. Senegalese dollar bonds extended their losses on Monday, with the yield on debt due in 2031 climbing to 24.56% — matching a record high set on May 28. The sovereign yield premium on the country’s hard currency debt has widened to more than 1,500 basis points above US Treasuries, placing it in the same company as distressed countries including Lebanon and Venezuela. Senegal’s financing needs are about 30% of gross domestic product, Gupta said. Its lack of access to the eurobond market has forced the country to rely on regional credit markets, with potentially risky consequences for spillovers. S&P warned in a June 2 report that Ivory Coast could be at indirect risk from positions held by international investors via Ivorian banks in the West African Economic and Monetary Union. “While this raises potential co...
Micron Technology (NASDAQ: MU) is one of the world's leading suppliers of high-bandwidth memory (HBM) for data centers, an essential component in the artificial intelligence (AI) hardware stack. HBM is in short supply right now, so Micron has the power to dictate prices, which is fueling a surge in the company's revenue and earnings. Micron stock is up by nearly 700% over the past year, but it plu...
Micron Technology (NASDAQ: MU) is one of the world's leading suppliers of high-bandwidth memory (HBM) for data centers, an essential component in the artificial intelligence (AI) hardware stack. HBM is in short supply right now, so Micron has the power to dictate prices, which is fueling a surge in the company's revenue and earnings. Micron stock is up by nearly 700% over the past year, but it plummeted 20% from its all-time high last week after semiconductor supplier Broadcom issued a conservative forecast for its future AI sales. This made Wall Street nervous about a potential slowdown in hardware demand. On June 24, Micron will release its latest quarterly operating results, which will give the Street some additional perspective. Should investors buy the stock ahead of the report, or is more downside potentially ahead? Continue reading
It took a while for the full impact of the personal computer to be appreciated after John Blankenbaker introduced the first PC -- the Kenbak-1 -- in 1971. It might also take a while to digest the ramifications of Nvidia (NASDAQ: NVDA) CEO Jensen Huang's proclamation a few days ago, "The PC is being reinvented." What we can know now, though, is that Huang declared war on Intel (NASDAQ: INTC) , Adva...
It took a while for the full impact of the personal computer to be appreciated after John Blankenbaker introduced the first PC -- the Kenbak-1 -- in 1971. It might also take a while to digest the ramifications of Nvidia (NASDAQ: NVDA) CEO Jensen Huang's proclamation a few days ago, "The PC is being reinvented." What we can know now, though, is that Huang declared war on Intel (NASDAQ: INTC) , Advanced Micro Devices (NASDAQ: AMD) , and Qualcomm (NASDAQ: QCOM) . And the PC market will never be the same. Image source: Nvidia. Continue reading
Visiting a historic mountainside in Pyongyang, Chinese President Xi Jinping emphasised the shared sacrifices and deep historical ties between China and North Korea. On Tuesday, Xi and first lady Peng Liyuan paid tribute at the Sino-Korean Friendship Tower in Moran Hill, accompanied by North Korean leader Kim Jong-un and his wife Ri Sol-ju. Honour guards placed a floral basket at the monument beari...
Visiting a historic mountainside in Pyongyang, Chinese President Xi Jinping emphasised the shared sacrifices and deep historical ties between China and North Korea. On Tuesday, Xi and first lady Peng Liyuan paid tribute at the Sino-Korean Friendship Tower in Moran Hill, accompanied by North Korean leader Kim Jong-un and his wife Ri Sol-ju. Honour guards placed a floral basket at the monument bearing a ribbon inscribed with the words, “The martyrs of the Chinese People’s Volunteer (CPV) Army are...