MarketWatch

The U.S. Treasury Department and Federal Reserve have joined forces with their Japanese counterparts to stage a historic joint intervention to boost the Japanese yen, according to Japan’s Ministry of Finance, which confirmed the move in a statement on Monday.

Strategists at the bank see non-U.S. shares performing well in the second half of the year and prefer semiconductor stocks to hyperscalers.

American manufacturers grew in July at the fastest pace in more than four year as they bore the fruits of a massive boom in artificial intelligence, but they’re also being hampered by pandemic-era-like supply shortages and higher inflation.

AstraZeneca shares were slumping while Bristol-Myers Squibb was jumping on Monday on reported deal talks. But the big question is why these two pharmaceutical giants would want to come together in the first place.