Market Overview - Page 159

U.S. stocks snapped a seven-session winning streak as a plunge in Treasury yields to the lowest since February weighed in financial firms and small caps. A gauge of the dollar strengthened and crude oil turned lower. The S&P 500 retreated.

The Department of Defense announced Tuesday it’s calling off the $10 billion cloud contract that was the subject of a legal battle involving Amazon and Microsoft. The JEDI, or Joint Enterprise Defense Infrastructure, deal has become one of the most.

Stocks fell on Tuesday as Wall Street kicked off the holiday-shortened week with concern that maybe the best of the economic recovery from the pandemic is behind us. The Dow Jones Industrial Average fell about 360 points, dragged down by.

The U.S.-traded shares of prominent Chinese companies were under pressure on Tuesday after the Asian country’s officials launched a cybersecurity review of Didi, fueling concerns about government risk to Chinese stocks. Shares of Tencent Music Entertainment fell more than 9%,.

A series of disappointing data from Europe caused the single currency European indexes to fall early in Tuesday’s trading session. German data showed a 3.7% dip in manufacturing orders for May, more than outstripping the growth in April and missing.

Since the start of the month, the US dollar has been losing ground, testing the 92 level for the DXY. The publication of strong NFP data may well have triggered continued pressure on the dollar. Reflation trade went back to.

Brent oil prices rose above $77 a barrel for the first time since 2018 after OPEC+ failed to reach an agreement on bringing back curtailed output, leaving the market with tighter supplies than expected. Futures rose as much as 1.2%.

Consumers may get some respite from surging food prices in the coming years as demand growth slows and output rises, according to the Organisation for Economic Cooperation and Development and United Nations. A gauge of global food costs has jumped.

Investors have high expectations for the global oil recovery because of the economic pick up in the U.S. — but those expectations could be “too optimistic,” according to energy analyst Vandana Hari. “The U.S. rebound and the U.S. leaving behind.

China’s government has opened a new battlefront with the country’s technology giants, looking to target their collection and use of data. On Monday, the Cyberspace Administration of China (CAC) also opened a cybersecurity probe into U.S.-listed Boss Zhipin and subsidiaries.

Nexperia, a Dutch chip firm owned by China’s Wingtech, confirmed on Monday that it plans to acquire the U.K.’s largest chip producer, Newport Wafer Fab. It comes after two people close to the deal told CNBC on Friday that the.

A meeting between oil producer group OPEC and its partners, which was aiming to broker a deal on crude output after the group unexpectedly failed to reach an agreement last week, has been called off. The energy alliance, often referred.