U.S. stocks rose on Tuesday, led by a rebound in the battered technology sector, as Federal Reserve Chair Jerome Powell’s said the central bank would act “as appropriate” to trade war risks, leaving the door open for a possible rate cut.
New orders for U.S.-made goods fell in April and shipments dropped by the most in two years, indicating continued weakness in manufacturing activity that could undercut the broader economy.
The Federal Reserve will respond “as appropriate” to the risks posed by a global trade war and other recent developments, Fed Chairman Jerome Powell said on Tuesday in remarks that seemed to open the door to the possibility of a rate cut.
New orders for U.S.-made goods fell in April and shipments dropped by the most in two years, indicating continued weakness in manufacturing activity that could undercut the broader economy.
The Federal Reserve will respond “as appropriate” to the risks posed by a global trade war and other recent developments, Fed Chairman Jerome Powell said on Tuesday in remarks that seemed to open the door to the possibility of a rate cut.
Drinks group Pernod Ricard, which is being targeted by activist investor Elliot, sounded confident on Tuesday over its growth prospects in Asia including for wines such as its Jacob’s Creek brand.
Fiat Chrysler has resolved key differences with France over its proposed merger with Renault, three sources told Reuters on Tuesday, as the French carmaker’s board met to review the $35 billion tie-up plan.
U.S. stocks opened higher on Tuesday after a senior Federal Reserve official pointed the way to a cut in interest rates in response to slowing economic growth.
The U.S. Internal Revenue Service is auditing Uber Technologies Inc’s taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million.
Apple Inc Chief Executive Tim Cook denied that the company is a monopoly as the U.S. government gears up for a potentially unprecedented probe into whether the iPhone maker and other technology giants are misusing their massive market power.
Wall Street was set to open higher on Tuesday, bouncing back from a selloff in technology stocks a day earlier, after a senior Federal Reserve official pointed the way to a cut in interest rates in response to slowing economic growth.
Royal Dutch Shell outlined plans on Tuesday to boost shareholder returns after 2020, while also increasing spending on oil, gas and power, as it capitalizes on years of cost cutting to prepare for a lower carbon future.
European stock markets and Wall Street futures clawed higher on Tuesday, though worries about a clampdown on the world’s internet and social media giants and mounting recession jitters kept caution levels high.
Renault directors were preparing to review Fiat Chrysler’s (FCA) $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said.
An Indian startup’s legal challenge against a Walmart unit claiming losses caused by sharp discounting of its products is winning support from other online sellers, in what is shaping as a key test of how the giant retailer operates in the country.
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