News

BlockBeats News, March 5th, Broadcom (AVGO.O) disappointed investors with its second-quarter revenue guidance, indicating that its progress in the field of AI computing is below some people's earlier expectations. The company's revenue for the second quarter (ending May 3) is approximately $22 billion, with analysts' average previous forecast at $20.5 billion, and some forecasts even exceeding $22 billion. Its stock price barely changed in after-hours trading, showing a muted reaction to the company's performance announcement. As of Wednesday's close, Broadcom's stock price has dropped 8.3% in 2026. This lukewarm response reflects the high barriers that AI companies face in 2026. Investors are increasingly concerned about the investment bubble in the AI field, with even an exchange's massive earnings report last month triggering a stock price decline. (Jinse)

BlockBeats News, March 5th, White House officials have now confirmed that Kevin Wash will take over the seat of Federal Reserve Director Milan. The White House had previously submitted Wash's nomination to the Senate for the position of Federal Reserve Chair. Note: After Powell steps down as Federal Reserve Chair in May, he may still occupy a Federal Reserve Board seat. Milan, who is currently serving as interim director, is considered a "placeholder," but Milan has also expressed willingness to continue serving as a director. (Krypton Capital)

CBOT soybean futures prices remain in a narrow range, with uncertain demand prospects for US soybeans and expectations of abundant harvests in South America putting pressure on prices. The market focus has shifted to the USDA March supply and demand report to be released next week for guidance.