17 minutes ago
Japan Machinery Orders in February Exceed Expectations
Core machinery orders in Japan far exceeded expectations in February, rising 7.7% month-on-month, compared with a 0.8% rise expected by economists polled by Reuters.
However, on an annual basis, core machinery orders fell 1.8%, lower than the 6% decline forecast in the Reuters survey.
Core machinery orders are a highly volatile data series, considered a leading indicator of capital spending in Japan.
—Lim Hui Jie, Reuters
59 minutes ago
CNBC Pro: Top Nvidia Shareholder Reveals His Trigger for Selling Growth Stocks
Nvidia shares are up sharply this year, up more than 80% in 2024, but one of its largest shareholders has revealed why he sold his shares.
Raj Shant, managing director at investment firm Jennison Associates, told CNBC Pro that the company sold its position in the AI chipmaker to manage risks, although it remained optimistic about its long-term prospects.
CNBC Pro subscribers can learn more about Jennison’s reasons.
-Ganesh Rao
2 hours ago
Oil prices fall slightly after Israel repels a large-scale air attack from Iran
U.S. crude oil futures were slightly lower on Sunday as traders breathed a sigh of relief after Israel repelled a large-scale air attack from Iran and the United States stressed that it wanted to avoid a wider war in the Middle East.
The West Texas Intermediate contract for May lost 34 cents to $85.32 a barrel in early trading Sunday evening. June Brent futures eased slightly to $90.18 a barrel. U.S. crude closed at $85.66 a barrel on Friday, while the global benchmark settled at $90.45. WTI futures started the year around $71 per barrel.
Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that President Joe Biden called “unprecedented.” Although considerable in scale, the Iranian attack caused little real damage in Israel.
-Spencer Kimball
2 hours ago
Cryptocurrencies fall due to increased tensions in the Middle East
Bitcoin and other cryptocurrencies sold off sharply on Saturday evening after Iran launched an unprecedented drone and missile attack on Israel.
As of Sunday evening, Bitcoin was trading near $65,000. It managed to partially rebound from its losses on Saturday, when it fell below $62,000 from around $70,000. This is the largest Bitcoin sale in over a year.
Other coins like ether also saw strong sales, down as much as 10% in some cases.
— Hakyung Kim, Matt Clinch
3 hours ago
First direct attack on Israel from Iranian territory on Saturday
Iran fired 300 drones and missiles toward Israel on Saturday evening in retaliation for a suspected Israeli strike killing senior Iranian officials in Syria. This strike was the first direct attack on Israel from Iranian territory.
The Israeli government said it had identified 300 types of drones and missiles and had successfully intercepted “99%” of those headed for Israeli territory, according to an Israel Defense Forces spokesperson.
-Hakyung Kim