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India’s Paytm confirms banking arm director resigned
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Kiwi dollar dips following Reserve Bank of New Zealand governor comments
The New Zealand dollar dipped 0.3% to $0.6130, cooling from a roughly 1.4% jump last week.
Reserve Bank of New Zealand Governor Adrian Orr said the country’s current inflation rate was still too high at 4.7%. Speaking before a parliamentary committee, Orr said the central bank aims to bring inflation down to around 2%.
The kiwi dollar has been buoyed by bets that RBNZ could hike its interest rates again in order to rein in inflation.
LSEG data showed markets were pricing in a 71% chance of a hold when the central bank meets on Feb. 28 and a 52% chance of a hike at its May meeting.
8 Hours Ago
Australian biotech CSL slides after cardiovascular drug fails trial
Shares of CSL fell 5% after the Australian biotechnology company said its cardiovascular drug CSL112 failed to meet the primary efficacy endpoint in a phase 3 trial.
CSL said the drug did not reduce the risk of major adverse cardiovascular events at 90 days, compared with placebo. As a result, the company said it has “no plans for a near-term regulatory filing.”
CSL shares were the biggest loser on Australia’s benchmark S&P/ASX 200 index, and fell to their lowest level in almost one month.
— Shreyashi Sanyal
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CNBC Pro: Here’s how to create a diversified bond portfolio with up to 6% yield, according to the pros
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CNBC Pro: These global tech stocks are in Citi’s ‘high-conviction’ list. One was given nearly 80% upside
Tech stocks already had a good run, and investors may be wondering if they still have further to go.
Investors looking for more upside in tech can consider some tech stocks in Citi’s list of top “high-conviction” picks from markets across the United States, Europe, Asia-Pacific and Latin America.
CNBC Pro subscribers can read more here.
— Weizhen Tan
Fri, Feb 9 2024 4:12 PM EST
S&P 500 clinches first close above 5,000
The S&P 500 rose 0.57% to end at 5,026.61 and finish above 5,000 for the first time ever. The Nasdaq Composite rallied 1.25% to close at 15,990.66, while the Dow Jones Industrial Average slipped 54.64 points, or 0.14%, to settle at 38,671.69.
For the week, the S&P added 1.4%, while the Nasdaq‘s gained 2.3% and the Dow finished flat. All three major averages notched their fifth straight winning week and 14th positive week in 15.
— Samantha Subin
Fri, Feb 9 2024 3:22 PM EST
NYCB insiders scoop up shares of the struggling bank
Executives at New York Community Bancorp have put their own money on the line in bets that the bank can steady itself. Seven corporate insiders have purchased stock of NYCB this week, according to Verity Data.
Those insider buys could help boost the confidence of outside investors as well.
Shares of NYCB were up more than 13% in afternoon trading, but the stock is still below $5 per share.
See Chart…
Shares of NYCB were rebounding on Friday.
Fri, Feb 9 2024 3:04 PM EST
India, Japan, Israel ETFs outperforming in 2024
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India, Japan and Israel ETFs are outperforming in 2024
Read More:Australia markets fall; Kiwi dollar edges lower; China closed
2024-02-12 07:12:29
