Chip stocks helped steady European markets on Thursday following their worst two-day selloff since March after Nvidia forecast quarterly revenue more than 50% over Wall Street estimates
A media report said that U.S. House Speaker Kevin McCarthy does not know if congressional and White House negotiators will be able to reach a deal on raising the debt limit on Thursday, renewing fears of an unprecedented default in the United States.
"The U.S. debt ceiling is headline at the moment - the uncertainty that it is bringing to the markets is incredibly difficult to navigate," said Helen Jewell, deputy chief investment officer at BlackRock Fundamental Equities for EMEA. European stocks came under strong selling pressure this week as investors fretted over a potential U.S. debt default and sticky inflation in the UK, after a strong earnings season had boosted several regional bourses to record highs.on a slide in crude oil prices, while luxury majors took a breather and helped stave off steeper losses on the STOXX 600.
"Luxury stocks can weather a recession, because high net worth individuals tend to purchase these ... so if the stocks see a deeper dip, I would see that as a potential value buy," said Giles Coghlan, chief market analyst at HYCM.
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New Vulcan Centaur rocket may test-fire its engines on the launch pad for 1st time on May 25The test could happen as soon as Thursday (March 25).
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Nvidia Stock Hits New Closing High as Chip-Maker’s Valuation Approaches $1 TrillionShares of chip maker Nvidia closed at a record high Thursday, adding nearly a third of its market value, which closed shy of the $1 trillion mark
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South Korea asks US to review China rule for chip subsidiesSouth Korea has asked Washington to review its criteria for new semiconductor subsidies, concerned over the impact of rules to limit chip investment in countries such as China, a U.S. public filing showed.
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Watch Rocket Lab launch 2 tiny NASA hurricane-watching probes early ThursdayThe second set of TROPICS cubesats will launch at midnight ET on Thursday (May 25).
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$115 million raised by Moonfire Ventures for European AI startupsFounded in 2020, Moonfire Ventures has raised a $115 million second round of investment to invest in European technology and AI startups.
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Weather Authority: Spotty showers overnight leads to cooler, breezy ThursdayA cold front from the north will push a cluster of spotty showers across parts of the Delaware Valley overnight, leading to a cooler and breezy Thursday.
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