Nasdaq futures deepen slide ahead of Powell speech

(Reuters) – Futures tracking the Nasdaq index pointed to a more than 1% drop at the open on Tuesday as investors sold off high-flying technology stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell’s testimony in Congress.FILE PHOTO: American flags hang from the facade of the New York Stock Exchange (NYSE) building after the start of Thursday’s trading […]

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HSBC curbs profit and payout ambitions, bets on Asia wealth

HONG KONG/LONDON (Reuters) – HSBC Holdings PLC on Tuesday abandoned its long-term profitability target, and unveiled a revised strategy focused mainly on wealth management in Asia after the COVID-19 shock saw its annual profits drop sharply. Citing the low interest rate environment and tough market conditions, HSBC ditched its goal of achieving a return on tangible equity of 10 to […]

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RBI’s lack of support pushes up bond yields

The RBI wants the yields to remain at 6 per cent, but bond dealers say the central bank will have to step up its bond-buying programme. The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to […]

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CVS Health Q4 Results Top Estimates

CVS Health Corp. (CVS) reported on Wednesday a profit for the fourth quarter that declined 44 percent from last year, hurt by higher benefit costs and expenses, despite a 4 percent revenue growth. Both adjusted earnings per share from continuing operations and quarterly revenues topped analysts’ expectations. The company also initiated earnings and adjusted earnings guidance for the full-year 2021. […]

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