NEW YORK — U.S. stocks closed out their best week of the year with more gains on Friday and climbed to the cusp of their records. The S&P 500 rose 0.5% for a fifth straight gain and is just 0.7% below its all-time high set in July. Rallies for Microsoft, Broadcom and other big technology … Read more
After pulling an about-face to become one of the best-performing technology stocks in China this year, Meituan may be primed for further gains on easing competition and improving profitability. Analysts see shares of China’s top food-delivery platform rising another 19% over the next year, on projections for record earnings. Cost cuts are helping Meituan boost … Read more
Hedge funds made an about-face last week dumping semiconductor stocks — beneficiaries of the artificial intelligence boom — while snatching up software. Fund managers net sold US technology stocks for the third straight week, according to Goldman Sachs Group Inc.’s prime brokerage desk. Within tech, semiconductors and semiconductor equipment stocks were the most notionally net … Read more