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Tech Stocks Propel S&P 500 and Nasdaq to New Highs Amid Rate Cut Speculation

The S&P 500 and Nasdaq achieved record highs for the fourth consecutive session, driven by strong technology shares. Despite a rise in U.S. unemployment claims, lower producer prices have fuelled hopes for a Federal Reserve rate cut in September. Broadcom and Nvidia shares soared, highlighting the tech sector's dominance.
United States Richard Chang Johannm Cherian Paul Nolte Devika Syamnath Murphy Sylvest

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China's local govt bodies ask Evergrande EV unit to return $262.4 million subsidies

The local bodies sent a letter of demand for Evergrande Automotive Holdings to terminate a series of investment cooperation agreements made between the parties since April 29, 2019, the electric vehicle (EV) unit of China Evergrande said in a statement. "The above demands of the letter, if ultimately implemented, could have a material adverse impact on the financial position and operations of the Company or each of the relevant subsidiaries."
Sriraj Kalluvila Poonam Behura Devika Syamnath Evergrande Automotive Holdings China Evergrande New Energy Vehicle China Evergrande
Source: yahoo.com

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