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Copper prices slipped during US trading on Monday, weighed by a slightly stronger dollar and growing bets on a Federal Reserve rate cut. Three-month copper futures on the London Metal Exchange rose 0.2% to 10,780.5 dollars per metric ton as of 4:40 p.m. Mecca time. Markets now assign a 78% probability of a 25-basis-point Fed rate cut in December, up from roughly 41% a week ago, according to CME FedWatch. UBS sees structurally tighter supply and higher copper ahead UBS expects copper prices to move higher next year, citing tightening supply conditions driven by persistent mine…
Chinese President Xi Jinping has reaffirmed Beijing’s steadfast support for Venezuelan President Nicolas Maduro, sending a congratulatory letter on the eve of the embattled leader’s birthday that pledged continued backing for the South American country’s sovereignty amid mounting regional tensions and US military pressure.In the message, released by Venezuela’s Foreign Ministry over the weekend, Xi described China and Venezuela as “intimate friends, dear brothers and good partners”.He vowed to keep supporting Caracas in “safeguarding its sovereignty and national security, the dignity of the nation, and social stability”.The Chinese leader also used the letter to condemn foreign interference in Venezuelan affairs,…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update : The S & P 500 is on pace for its second positive session in a row as it claws back some of its losses from the past few weeks. Technology leads the market as Alphabet jumps on the positive buzz surrounding its new AI model, Gemini 3. The news is good for Alphabet, but it’s even better for its primary custom AI chip provider, Broadcom , which makes…
U.S. stocks climbed on Monday, supported by a strong rebound in the technology sector, particularly AI-linked names, alongside rising expectations for a Federal Reserve rate cut at next month’s meeting. Fed Governor Christopher Waller said he favors a rate cut in December, though he noted that the January decision may be more challenging due to the backlog of delayed economic data. His remarks followed comments from New York Fed President John Williams on Friday, who signaled that the central bank may have additional room to ease policy. Williams said that monetary policy “remains moderately restrictive,” though less…
CNBC’s Jim Cramer said Monday that Amazon ‘s AI-powered retail business is a vertical that “can’t be challenged,” heading into the long Thanksgiving shopping weekend. “I don’t see OpenAI challenging Amazon retail,” Cramer said on ” Squawk on the Street .” “They’re not going to stop these guys when it comes to retail.” While OpenAI’s ChatGPT is shaping how consumers search for gift ideas, Amazon’s built-in assistant Rufus gives the e-commerce giant an advantage. Rufus creates a conversational shopping experience that keeps customers within Amazon’s ecosystem. That’s a key differentiator as a growing number of consumers plan to use artificial…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. The S & P 500 and Nasdaq each surged Monday on the back of Alphabet ‘s gains and expectations for a third Fed interest rate in 2025. Shares of the Google parent jumped more than 4% on excitement about the launch of Gemini 3, which also sparked debate about whether it is superior to OpenAI’s ChatGPT. Jim Cramer said, “The rate cut story is really behind a lot of these moves” as well. After…
The Japanese yen was the weakest major currency against the broadly softer US dollar on Monday as investors waited for any sign of official buying from Tokyo to slow the currency’s slide. A national holiday in Japan reduced liquidity during the Asian session, keeping the yen down 0.3% at 156.89 per dollar and close to the ten-month low it hit last week. The yen continues to face pressure from a combination of highly accommodative fiscal policy and some of the lowest interest rates in the world. It found brief support on Friday after rebounding from ten-month lows, following…
The Japanese yen was the weakest major currency against the broadly softer US dollar on Monday as investors waited for any sign of official buying from Tokyo to slow the currency’s slide. A national holiday in Japan reduced liquidity during the Asian session, keeping the yen down 0.3% at 156.89 per dollar and close to the ten-month low it hit last week. The yen continues to face pressure from a combination of highly accommodative fiscal policy and some of the lowest interest rates in the world. It found brief support on Friday after rebounding from ten-month lows, following…
Chinese President Xi Jinping and US President Donald Trump held a phone conversation on Monday to reaffirm bilateral ties and discuss Taiwan and Ukraine issues.The telephone call came after a series of fast-changing geopolitical developments in recent weeks. China has got into an escalating row with Japan over Prime Minister Sanae Takaichi’s comments on Taiwan, and the US has announced a 28-point peace proposal to end the Russia-Ukraine war, which started in February 2022.Xi clarified Beijing’s official position on the Taiwan issue, emphasising that the reincorporation of Taiwan is a key part of global relations forged over the past 80…
China has brought online the world’s first commercial supercritical carbon dioxide power generator – a revolutionary clean energy technology pioneered by the China National Nuclear Corporation (CNNC).This power generator, which uses carbon dioxide instead of steam to transfer heat, has been connected to the grid from a steel production plant in China’s southwestern province of Guizhou to produce electricity from waste heat, according to a social media post by CNNC’s Nuclear Power Institute of China on November 10.Once operational, the two 15-megawatt power units are expected to be 50 per cent more efficient at capturing and using waste heat from…