Why video game stocks are dominating right now
Shares of Take-Two Interactive hit record highs on Monday after the company reiterated a Fall launch for Grand Theft Auto 6.
Iran loosens import restrictions on foreign cars and iPhones, trying to mask its economic woes
All architecture student Amirhossein Azizi wanted for his 19th birthday was the latest iPhone — and for Iran's cash-strapped theocracy, it was just the gift they needed as well. An additional 450 million rials ($530) is required for import fees and registration on government-managed mobile phone networks. The purchase is only possible after Iran lifted import bans on expensive goods like foreign cars and new iPhones, yielding to public demand for the products while also trying to mask the dire straits of its economy.
South Korea's top think tank lowers economic growth projection, citing Trump's tariffs
South Korea’s top economic think tank slashed its growth forecast for the country’s economy for the second time in four months on Tuesday, expressing concern about the impact of U.S. President Donald Trump’s expanding tariffs. The state-run Korea Development Institute now projects South Korea’s economy to grow by 1.6% in 2025, which is 0.4 percentage points lower than its previous estimate announced in November. Kim Jiyeon, a KDI economist, said the “deterioration of the trade environment” following Trump’s inauguration was a major factor.
Gold Mints a Fresh Record High Amid Tariff, Inflation Concerns—Watch These Price Levels
Gold price surged to a fresh record past $2,900 Monday as President Trump announced 25% tariffs on steel and aluminum imports and investors brace for inflation data later this week. Monitor these important chart levels.
Oil climbs on supply worries, Trump tariffs check gains
Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats despite worries that escalating trade tariffs could dampen global economic growth. Brent crude futures were up $1.20, or 1.6%, at $77.06 a barrel by 1409 GMT while U.S. West Texas Intermediate crude rose $1.11, or 1.5%, to $73.43. Shipping of Russian oil to leading importers China and India has been significantly disrupted by U.S. sanctions targeting tankers, producers and insurers.
Dollar holds onto losses as Fed's Powell stays patient on rate cuts
(Reuters) -The U.S. dollar held onto earlier losses on Tuesday after Federal Reserve Chair Jerome Powell said the U.S. central bank was in no rush to cut its short-term interest rate again. Powell said in testimony before the Senate Banking, Housing and Urban Affairs Committee that the view on rates reflected the U.S. economy being "strong overall," with low unemployment and inflation that remains above the Fed's 2% target. Powell will also testify before the House Financial Services Committee on Wednesday.
Wall Street is predicting a hit to S&P 500 earnings as a result of Trump's tariff plans
"If it escalates into bilateral tariffs, we estimate an 8% hit to EPS assuming unitary elasticity," Bank of America analysts said.
Fed to wait for months on next rate cut as tariffs risk inflation flare up- Reuters poll
Faced with the threat of rising inflation, the U.S. Federal Reserve will wait until next quarter before cutting rates again, according to a majority of economists in a Reuters poll who previously expected a March cut. Economists have raised their inflation forecasts since U.S. President Donald Trump was elected, based on concerns his policies, particularly on tariffs, could re-ignite price pressures in the economy. After cutting rates by a cumulative 100 basis points between September and December, Fed officials, including Chair Jerome Powell, have recently said they are "not in a hurry" to lower rates further.
Bitcoin’s future? ‘It only ends up… by the end of the year,’ says Bitdeer’s Jeff LaBerge
Bitdeer’s Jeff LaBerge says Bitcoin’s staying power is what makes it attractive to corporations and even governments.
What Analysts Think of Reddit Stock Ahead of Earnings
Reddit is scheduled to report fourth-quarter earnings after the market closes Wednesday, with analysts expecting growing revenue and users.