China’s video game industry made a significant impact with the release of Black Myth: Wukong, a top-tier action game set in mythological China. The game sold over 10 million units within three days of its launch, signaling a new era for Chinese AAA games on the global stage. This achievement has shown the world that
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Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan to discuss the importance of finding a harmonious way to coexist. Despite the tensions that have arisen between the two countries in recent years, Xi emphasized China’s commitment to fostering a stable and healthy relationship with the U.S. Xi expressed his hope
Dollar General, a discount retailer catering to lower-income customers, recently faced a significant setback as it lowered its sales and profit guidance for the full year. This decision came after a weaker-than-expected performance in the market, leading to a 25% drop in the company’s shares. The company now anticipates its fiscal 2024 same-store sales to
U.S. President Joe Biden and Chinese President Xi Jinping are expected to hold a phone call in the near future, according to the White House. This announcement comes as U.S. national security adviser Jake Sullivan visits Beijing this week for discussions with China’s top diplomat, Wang Yi. Both sides have also expressed intentions for their
Chinese electric car companies are ramping up their efforts to produce in-house designed auto chips, moving away from relying on established players like Nvidia. Nio and Xpeng have announced the readiness of their own chips for production, signaling a shift in the industry landscape. The move is driven by a desire to differentiate their products
Xpeng, a Chinese electric car company, recently introduced its new mass-market Mona brand with prices starting at an affordable $16,812. This is significantly lower than Tesla’s cheapest Model 3, making it an attractive option for budget-conscious consumers. The company saw an overwhelming response, with over 10,000 orders for the Mona M03 electric coupe within just
The Russell 2000 index has been experiencing some volatility recently, with a 10.1% gain in July followed by a 4% drop in August. According to ALPS’ Paul Baiocchi, this turbulence can be attributed to the overall composition of the index. Apollo Global estimates that 40% of the companies in the Russell 2000 have negative earnings.
There is a lot of anticipation surrounding Federal Reserve Chair Jerome Powell’s upcoming policy speech. However, despite the hype, it is unlikely that he will reveal any groundbreaking news. The general consensus in the market is that the Fed will start cutting rates in September and continue to do so throughout the rest of the
In the face of looming uncertainty surrounding the Federal Reserve’s interest rate decision in September, more investors are turning towards dividend stocks. This strategic move is backed by the belief of Paul Baiocchi, the chief ETF strategist at SS&C ALPS Advisors, who foresees the Fed easing rates. Baiocchi emphasizes that investors are reallocating their assets
Federal Reserve Chair Jerome Powell recently addressed the looming possibility of interest rate cuts in the near future at the Fed’s annual retreat in Jackson Hole, Wyoming. Powell emphasized the need for policy adjustments, signaling a shift in direction for the central bank. Despite acknowledging the challenges ahead, Powell refrained from providing specific details regarding