London stocks edged up in early trade on Wednesday as investors eyed the latest UK manufacturing data and a policy announcement from the US Federal Reserve.
Wall Street stocks registered heavy losses on Tuesday as market participants awaited the outcome of the Federal Reserve's two-day policy meeting and digested more mega-cap earnings.
Amazon profits soared once again in the first quarter of 2024, the company announced on Tuesday – the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence and advertising sales. Amazon reported overall revenue of $143.3bn in the first three months of the year – up 13% from the same period in 2023 and surpassing Wall Street expectations of $142.65bn. The e-commerce giant reported an increase of more than 200% to $15bn, with net income more than tripling to $10.4bn from $3.17bn at the same time in 2023. – Guardian
Shares in pharmacy giant CVS Health were falling on Wednesday, after its first-quarter results fell short of expectations, with both revenue and adjusted earnings missing the mark.
UK house prices unexpectedly fell in April for the second month in a row, as borrowing rates went up, according to figures released on Wednesday by Nationwide.