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(Bloomberg) -- U.S. and European stock futures advanced, while equities traded mixed in Asia on Wednesday as investors took stock of the recent risk-asset rally and awaited clues on the next steps for monetary policy from the Federal Reserve. The dollar resumed its recent decline.S&P 500 futures rose after the index on Tuesday halted a surge that drove it into the black for 2020, with a drop of 0.8%. European contracts were also higher. Shares dipped in China and Japan. Benchmarks in Hong Kong and South Korea fluctuated, while Australia edged higher. Earlier, the Nasdaq 100 briefly topped 10,000 as Apple Inc. jumped on news it’s preparing to announce a shift to its own main processors in Mac computers. Treasuries were little changed.After a record-breaking rally that added over $21 trillion to global stock markets, technical indicators suggest a pullback may be overdue. Sentiment toward U.S. equities swung to extreme confidence...
China’s Nio Inc (NIO) has announced an offering of 60 million American depositary shares (ADSs), each representing one Class A ordinary share of the company. Shares fell 5% in Tuesday’s after-market trading.The electric-vehicle maker also intends to grant the underwriters in the ADS Offering a 30-day option to purchase up to an additional 9 million ADSs.Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited are acting as the joint book-running managers for the ADS Offering.The ADSs will be offered under the company’s shelf registration statement which became effective on June 9, 2020. A preliminary prospectus supplement related to the proposed ADS offering has also been filed with the SEC.According to the press release, NIO plans to use the net proceeds from the ADS Offering mainly to fund its cash investments in NIO China, as well as other working capital needs.“We expect...
Apple Inc (AAPL) is on the cusp of launching a new trade-in program for its Mac computers at retail stores, starting next week in the US and Canada, according to a Bloomberg report.Citing people familiar with the matter, Bloomberg says that Apple intends to commence the new program on June 15 in the US and June 18 in Canada. This means that customers can exchange a Mac for credit towards a new computer or take the trade-in value as an Apple gift card.The offer was previously only available for Mac computers on Apple’s website, but the store trade-in program already exists for the iPhone, iPad and Apple Watch.Apple is hoping the new offer could encourage customers to upgrade their Macs more frequently. Currently Mac sales make up about 10% of the company’s total annual revenue.In a separate report, Bloomberg also announced that Apple will introduce a 12-month interest-free payment plan via its...
The list of the most popular ETFs on the Robinhood trading platform reveals some surprises....
(Bloomberg) -- Oil retreated toward $38 a barrel after a U.S. industry report signaled a surprise jump in crude inventories, raising fresh concerns about excess supply.Futures dropped 1.9% in New York, erasing almost all of the gains from the previous session. The American Petroleum Institute reported that stockpiles expanded by 8.42 million barrels last week, according to people familiar with the data. If confirmed by government figures on Wednesday, it would be the largest build since the end of April.Oil is still recovering from the virus-driven demand crash that pushed crude below zero in April as supply cuts trim oversupply and an easing of restrictions boosts consumption. While lockdowns have been relaxed in parts of the U.S., there are concerns that higher prices may encourage some producers to pump more, adding further pressure to a global glut.Along with official crude stockpile data on Wednesday, investors will turn their focus to the...
