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Business

“Samsung expected to report 80% profit plunge as losses mount at chip business”

“…The South Korean technology giant will issue earnings guidance on Wednesday. Analysts polled by LSEG expect operating profit of 2.3 trillion Korean won ($1.7 billion) for the September quarter, a 78.7% year-on-year decline. Revenue is expected to come in at… Continue Reading…

Stocks

“Stocks close lower, Dow drops nearly 500 points as supply chain concerns mount amid protests in China”

“Stocks closed lower Monday as social unrest from China’s prolonged Covid restrictions weighed on markets. The Dow Jones Industrial Average lost 497.57 points, or 1.45%, to end at 33,849.46. The S&P 500 dropped 1.54% to end at 3,963.94. The Nasdaq… Continue Reading…

Banking, Economy

“Default Jitters Mount in Argentina as Local Yields Top 70%”

“…A government bond auction scheduled for Tuesday will provide a look at just how acute the crunch has become. The government is looking to sell some 250 billion pesos ($2 billion) of inflation-linked notes and other securities. Demand has sagged… Continue Reading…

Economy

“Canada inflation rate gallops to near 40-year high, calls for supersized rate hike mount”

“Canadian consumer prices increased in May at rates not seen since January 1983, surging past analyst forecasts, largely driven by pricey gasoline, official data showed on Wednesday, upping the pressure on the central bank to hike rates “more forcefully” Canada’s… Continue Reading…

Stocks

“Global stocks and oil mount a recovery while Dow gains 800 points”

“Markets in Asia and Europe staged a recovery Tuesday, and the Dow soared 800 points a day after novel coronavirus fears and an oil price war sparked a worldwide panic… The Dow (INDU) soared 3.3%. The S&P 500 (SPX) rose 2.9% and the Nasdaq (COMP) was up 2.7%.JPMorgan equity strategists… Continue Reading…