25 Mins Ago
U.S. weekly jobless claims fall to 201,000
The number of individuals in the U.S. filing new claims for unemployment benefits fell more-than-expected last week, suggesting strength in the labor market.
Initial jobless claims for the week ending on Feb. 17 totaled 201,000, which was a decrease of 12,000 from the previous week’s revised level, according to latest figures from the U.S. Department of Labor. Insured unemployment was 1,862,000 for the week ending Feb. 10. Claims are hovering at historically low levels, Reuters reported.
— Pia Singh
An Hour Ago
Stocks making the biggest premarket moves
These are some of the stocks making notable moves before the bell:
- Nvidia — The closely watched chip giant’s stock jumped 13% in premarket trading after earnings released Wednesday afternoon blew past expectations amid the artificial intelligence boom.Â
- Moderna — Shares were up more than 5% after the vaccine maker posted better-than-forecasted revenue for the fourth quarter.
- Lucid — Shares pulled back more than 7% after the luxury electric vehicle company missed revenue estimates in the final quarter of 2023.
— Alex Harring
An Hour Ago
Moderna shares pop after Q4 report
A sign at Moderna’s clinical manufacturing facility.
David L. Ryan | Boston Globe | Getty Images
Shares of Moderna were up more than 5% in the premarket after the vaccine maker posted a greater-than-expected revenue for the fourth quarter. The company’s top line registered at $2.81 billion, while analysts polled by LSEG had forecast a print of $2.50 billion. Moderna also reported a surprise profit, boosted in part by deferred revenue.
9 Hours Ago
Japan’s Nikkei crosses 39,000 as robust earnings, investor-friendly measures drive risk-on sentiment
Passersby look at electric screens, displying Japan’s Nikkei share average which surged to a record high, outside of a brokerage in Tokyo, Japan February 22, 2024.Â
Issei Kato | Reuters
Japan’s Nikkei 225 hit a record high Thursday, powered by banking, electronics and consumer stocks as robust earnings and investor-friendly measures fuel a blistering rally in Japanese equities this year.
The Nikkei 225 jumped nearly 2% to hit 39,029, surpassing the previous record high of 38,915.87 reached in 1989.
Both the Nikkei and the broader Topix have been standout outperformers in Asia Pacific, up more than 10% so far this year after surging more than 25% in 2023 — their respective best annual gains in at least a decade.
—Clement Tan
10 Hours Ago
Nikkei adds nearly 2%, powered by banking, electronics and consumer stocks
Japan’s Nikkei 225 led gains in Asia, briefly surpassing its1989 all-time high, powered by a mix of banking, electronics and consumer stocks.
The index climbed 1.92% on Thursday, with Aozora Bank being the biggest gainer, up 8.21%.
Electronics company Furukawa Electric and petrochemical firm Resonac Holdings rose 4.7% and 3.97% respectively.
Other index heavyweights were also in the green. Tokyo Electron advanced 5.74%, while Softbank gained 5.33%. Fast Retailing rose 2.41%.
—Lee Ying Shan
15 Hours Ago
Shares of EV players Lucid and Rivian drop
A Lucid Air Grand Touring electric luxury car is displayed at the Lucid Motors Inc. studio and service center on February 25, 2021 in Beverly Hills, California.
Patrick T. Fallon | AFP | Getty Images
Shares of Lucid Group slid nearly 7% in extended trading after the electric vehicle company posted a revenue miss as losses widened. Lucid reported revenue of $157 million in the latest quarter, lower than an LSEG, formerly Refinitiv, estimate of $180 million.
Rivian Automotive‘s stock plunged 13% after the company reported steep losses and said it would cut 10% of its salaried workforce. Rivian expects EV production this year to be far lower than Wall Street expected, hurt by downtime for factory upgrades and slowing demand for EVs due to high interest rates.
— Yun Li
15 Hours Ago
Nvidia’s Data Center business is up more than 400%
A sign is posted at Nvidia headquarters on February 05, 2024 in Santa Clara, California.Â
Justin Sullivan | Getty Images
Nvidia’s closely watched Data Center business logged $18.4 billion in fourth-quarter sales, up 409% from the same period in the previous year.
The segment includes the company’s H100 graphics cards that are widely used to power generative artificial intelligence apps such as OpenAI’s ChatGPT.
Nvidia’s data center unit has blossomed, particularly over the past three quarters. It’s the current market leader for supplying computer chips used for AI research and products.
— Yun Li, Jonathan Vanian
