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CNBC’s Jim Cramer said Wednesday that T.J. Maxx owner TJX is the “best there is right now” in the out-of-favor retail industry. He was far less complimentary of Target . Cramer’s comments came after the companies reported much different earnings stories before the opening bell on Wall Street. TJX — which also owns the Marshalls and HomeGoods chains – delivered better-than-expected profit and revenue for the third quarter. CEO Ernie Herrman said the holiday shopping season is off to a “strong start.” TJX shares bolted out of the gate to an all-time intraday high before the rally lost some steam. The…

The British pound edged lower on Wednesday after UK inflation data for October came in broadly in line with expectations, reinforcing speculation that the Bank of England may cut interest rates next month, while the U.S. dollar strengthened ahead of Nvidia’s earnings and key American data releases.   At the same time, the Japanese yen touched a ten-month low against the dollar following Bank of Japan Governor Kazuo Ueda’s meeting with key ministers, including Finance Minister Satsuki Katayama, who said the government is monitoring markets “with a high degree of vigilance.”   Official data released Wednesday showed UK annual consumer…

My top 10 things to watch Wednesday, Nov. 19 1. The S & P 500 was headed for a higher open this morning as the index attempts to break its four-session losing streak. The Nasdaq , which has been down five out of the last six trading days, was also expected to open higher. Concerns about AI-related valuations continued to pressure megacap tech shares yesterday. Tonight, Nvidia’s quarterly earnings report will be in focus. 2. It’s Nvidia Day. When everyone is worried about something, then it isn’t as cataclysmic as when you are surprised about something. Nvidia is now perceived…

The days when Silicon Valley and leading American universities led the way in shaping the future of science may be ending, as China overtakes the United States not only in research output but in some cutting-edge fields, according to one of the world’s leading academic publishers.“When I looked into data from Digital Science’s Dimensions database, I can see a widening gap between China and the United States in research output.“By 2024, Chinese researchers had published 1.1 million articles, compared to 880,000 from their US counterparts,” Fred Fenter, chief executive editor of the Switzerland-based publisher Frontiers, said in an interview.While the…

The British pound edged lower on Wednesday after UK inflation data for October came in broadly in line with expectations, reinforcing speculation that the Bank of England may cut interest rates next month, while the U.S. dollar strengthened ahead of Nvidia’s earnings and key American data releases.   At the same time, the Japanese yen touched a ten-month low against the dollar following Bank of Japan Governor Kazuo Ueda’s meeting with key ministers, including Finance Minister Satsuki Katayama, who said the government is monitoring markets “with a high degree of vigilance.”   Official data released Wednesday showed UK annual consumer…

UBTech Robotics said it planned to expand its assembly of humanoid robots 10-fold next year to as many as 5,000 units and double that to 10,000 in 2027, as the scale economics of China’s advanced manufacturing prowess shaves a fifth off production costs every year.The Shenzhen-based company was on track to deliver 500 humanoid robots for industrial use by the end of this year, scaling up since delivering the first 10 droids last year, UBTech’s chief branding officer Michael Tam said during an interview with the Post on Wednesday.“Thanks to the rapid shift of China’s supply chain towards humanoid robotics…

China slightly increased its US Treasury holdings in August and September – though the uptick did little to offset an overall downward trend – as persistent worries over US debt sustainability and the Federal Reserve’s independence deepened doubts about the safety of assets backed by the US dollar.The country’s stockpile rose to US$701 billion in August, up from July’s multi-year low of US$696.9 billion, but it again trimmed the total to US$700.5 billion in September, according to data from the US Treasury Department released on Tuesday.Foreign holdings data for August and September were released after the record-breaking 43-day shutdown of…

China slightly increased its US Treasury holdings in August and September – though the uptick did little to offset an overall downward trend – as persistent worries over US debt sustainability and the Federal Reserve’s independence deepened doubts about the safety of assets backed by the US dollar.The country’s stockpile rose to US$701 billion in August, up from July’s multi-year low of US$696.9 billion, but it again trimmed the total to US$700.5 billion in September, according to data from the US Treasury Department released on Tuesday.Foreign holdings data for August and September were released after the record-breaking 43-day shutdown of…

China’s €4 billion (US$4.6 billion) euro-denominated bond sale has drawn record demand, highlighting robust investor confidence in its sovereign assets amid a global shift towards diversification.International and regional investors placed €100.1 billion in orders for the offering – 25 times the fundraising target – China’s Ministry of Finance said in a statement on Wednesday. The seven-year tranche, issued alongside an equal-sized four-year tranche, attracted demand 26.5 times its allocation, it added.The subscription rates marked the highest for a euro-denominated bond offering by China, which had previously conducted four such issuances, according to industry players. Investors from Europe, Asia, the Middle…

China’s €4 billion (US$4.6 billion) euro-denominated bond sale has drawn record demand, highlighting robust investor confidence in its sovereign assets amid a global shift towards diversification.International and regional investors placed €100.1 billion in orders for the offering – 25 times the fundraising target – China’s Ministry of Finance said in a statement on Wednesday. The seven-year tranche, issued alongside an equal-sized four-year tranche, attracted demand 26.5 times its allocation, it added.The subscription rates marked the highest for a euro-denominated bond offering by China, which had previously conducted four such issuances, according to industry players. Investors from Europe, Asia, the Middle…