Australia’s unemployment rate unexpectedly climbed in April, suggesting the labor market is beginning to cool in response to rising interest rates and an energy shockwave from the Middle East conflict. Employment declined by 18,600, driven primarily by full-time roles, compared with a predicted 15,000 gain, data from the Australian Bureau of Statistics showed Thursday. The jobless rate rose to 4.5...
Australia’s unemployment rate unexpectedly climbed in April, suggesting the labor market is beginning to cool in response to rising interest rates and an energy shockwave from the Middle East conflict. Employment declined by 18,600, driven primarily by full-time roles, compared with a predicted 15,000 gain, data from the Australian Bureau of Statistics showed Thursday. The jobless rate rose to 4.5% from 4.3%, which was also economists’ median estimate. The biggest forecast miss in unemployment since June last year prompted traders to pare bets on future rate hikes. The Australian dollar slipped 0.2% after the data and the yield on policy-sensitive three year notes fell as much as 14 basis points, extending an earlier drop. The Reserve Bank earlier this month raised interest rates for a third straight meeting — and had been trying to restrain a strong inflationary impulse even before the US-Israeli attack on Iran. That conflict sent fuel prices surging, further complicating policymakers’ efforts to return inflation to the RBA’s 2-3% target. Australia’s jobs market has been extraordinarily resilient in the period since the Covid pandemic, with the unemployment rate remaining at historically low levels even during periods of policy tightening. Traders and economists are divided on whether the central bank will hike again in June to take the cash rate to 4.6%. Money markets are now pricing just one more RBA hike this year, having previously seen a one-in-three chance of a second. The fallout from the Middle East conflict is already showing up in parts of the economy. A private report on Tuesday showed consumer confidence remained deep in pessimistic territory with sentiment toward the housing market weakening after last week’s federal budget. Listen and follow The Bloomberg Australia Podcast on Apple , Spotify , YouTube or wherever you get your podcasts. Also on Tuesday, RBA Assistant Governor Sarah Hunter told a Bloomberg forum in Sydney that policymakers are increasin...
Nvidia has not generated any revenue from H200 chip sales to China and remains uncertain whether the product will be allowed into the country, the US chip giant said on Wednesday, underscoring how geopolitics continues to cloud its access to one of the world’s largest AI markets even as global demand for its data centre processors surged to a record high. While Washington has approved licences for...
Nvidia has not generated any revenue from H200 chip sales to China and remains uncertain whether the product will be allowed into the country, the US chip giant said on Wednesday, underscoring how geopolitics continues to cloud its access to one of the world’s largest AI markets even as global demand for its data centre processors surged to a record high. While Washington has approved licences for H200 shipments to China-based customers, Colette Kress, Nvidia’s executive vice-president and chief financial officer, said on a post-earnings call it had “yet to generate any revenue, and we are uncertain whether any imports will be allowed into the country”. Consistent with the previous quarter, Nvidia did not include any China data centre compute revenue in its outlook for the current quarter. Advertisement The comments came after Nvidia CEO Jensen Huang joined US President Donald Trump on a recent visit to China. Trump later said that Beijing had not approved purchases of the H200, despite US clearance. That highlights the increasingly complex position facing Nvidia, which remains the world’s dominant supplier of advanced artificial intelligence chips but has been caught between United States’ export controls and China’s push to strengthen domestic semiconductor alternatives. Advertisement Nvidia’s financial performance nevertheless beat expectations. The Santa Clara-based company reported revenue of US$81.6 billion for the quarter ended April 26, up 85 per cent from a year earlier and a 20 per cent increase from the previous quarter.
Major U.S. indices closed Wednesday higher, with the Dow Jones Industrial Average gaining 1.3% to 50,009.35, the S&P 500 climbing 1.08% to 7,432.97 and the Nasdaq advancing 1.55% to 26,270.35. These are the top stocks that gained the attention of retail traders and investors through the day: Nvidia Corporation (NASDAQ:NVDA) Nvidia’s stock increased by 1.30%, closing at $223.47. The stock reached a...
Major U.S. indices closed Wednesday higher, with the Dow Jones Industrial Average gaining 1.3% to 50,009.35, the S&P 500 climbing 1.08% to 7,432.97 and the Nasdaq advancing 1.55% to 26,270.35. These are the top stocks that gained the attention of retail traders and investors through the day: Nvidia Corporation (NASDAQ:NVDA) Nvidia’s stock increased by 1.30%, closing at $223.47. The stock reached an intraday high of $226.13 and a low of $220.50. Its 52-week range is $129.17 to $236.54. The shares slipped 1.26% to $220.66 in the after-hours session. Nvidia reported first-quarter revenue of $81.62 billion and earnings of $1.87 per share, both above analyst expectations. Revenue increased 85% year-over-year, driven by continued strength in AI infrastructure demand, with Data Center revenue rising 92% to $75.2 billion and Edge Computing revenue increasing 29% to $6.4 billion. Intuit’s shares fell 3.95%, closing at $383.93. The stock fluctuated between $390.50 and $374.91 during the day, with a 52-week range of $342.10 to $813.48. The stock fell sharply by 13.43% to $332.38 in extended trading. Intuit reported third-quarter fiscal 2026 revenue of $8.56 billion and adjusted earnings of $12.80 per share, both slightly above analyst expectations. Revenue increased 10% year-over-year, led by 15% growth in Global Business Solutions and 19% growth in the Online Ecosystem segment. The company raised its full-year outlook, projecting revenue of $21.34 billion to $21.37 billion and adjusted earnings of $23.80 to $23.85 per share. Intuit also announced plans to reduce its workforce by 17% as part of an organizational restructuring expected to result in charges of $300 million to $340 million. Applied Digital Corp (NASDAQ:APLD) Applied Digital’s stock surged 7.92%, ending the day at $39.52. It reached a high of $39.58 and a low of $36.35, with a 52-week range of $6.53 to $47.79. The stock gained 7.67% to $42.55 in the after-hours session. The company announced a long-term lease agre...