BABA shares drop another 3.5% on Thursday intraday. The Russian invasion has hurt most tech stocks. Alibaba reported Q4 adjusted EPS of $2.67 on revenue of $38.3 billion. Alibaba stock (BABA) has dropped another 3.5% midday to $101.73 in New York. This is one stock that just cannot get a bid. The harsh sell-off that began with government
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USDCAD bounces off the Red Box area (again) The USDCAD has moved down to test the low of the swing area between 1.2649 and 1.2656. The low price just reach 1.26475 but has since bounced back up to 1.2663. The 100 day moving average of 1.26377 is also in play as is the failed swing
Prior +2.9% PPI +30.6% vs +27.0% y/y expected Prior +26.2% That’s a big surge in producer prices and it just reaffirms stronger price pressures in the euro area economy to start the year. This will continue to feed through to consumer inflation so that will be a worry for the trend in the months to
SINGAPORE – Aluminium prices climbed to an all-time high on Thursday, while nickel surged to its highest in 11 years as Russia’s invasion of Ukraine prompted further sanctions on Moscow, raising trader concerns over supplies from the Black Sea region. Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all
Euro is staying under selling pressure as Russia is continuing its invasion while Ukrainians are holding on defending their country. But selloff in Sterling has eased a little bit. Australia Dollar is extending recent rally as the best performer for the week. Canadian Dollar is following closely with help from BoC’s rate hike overnight, and
Signage at a Job News USA career fair in Louisville, Kentucky, June 23, 2021. Luke Sharrett | Bloomberg | Getty Images Private job creation rose at a faster-than-expected clip in February, according to a count released Wednesday from payrolls processing firm ADP. Companies added 475,000 positions for the month, better than the Dow Jones estimate
In this article VSCO Shoppers are seen inside a shopping mall in Bethesda, Maryland on February 17, 2022. Mandel Ngan | AFP | Getty Images Victoria’s Secret seesawed in after-hour hours trading Wednesday after the lingerie retailer issued a downbeat outlook for the coming quarter, cautioning that it still sees challenges ahead – including inflation
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Gold price hovers around $1,930 as investors await Russia-Ukraine truce talks. Powell’s testimony backs a 25 bps rate hike in March’s monetary policy meeting. A downfall in the Russian economy and Ukraine’s backfire may force Russia to choose a ceasefire. Update: Gold price is moving back and forth in a tight range around $1,930, as
AUDUSD on the hourly chart The AUDUSD is trading to new session highs and in the process is trading at the highest level in 34 trading days. The price traded above the high price from yesterday which tested swing highs going back to January 12 and January 14 between 0.7289 and 0.7292. The current prices
The ostensible reason is to adopt anti-crisis laws but a Russia analyst suggests it may approve martial law for the country: Adding further reasons: to ban all rallies and meetings to ban the work of public, international and foreign organizations that undermine the security of the country and more — The Federation Council is the
The US and other major economies have agreed on a coordinated release of oil stockpiles after Russia’s invasion of Ukraine pushed crude above $100 a barrel. The International Energy Agency, which represents key industrialized consumers, will deploy 60 million barrels from stockpiles around the world. Half of that amount will come from the U.S. Strategic
Market sentiment stabilized a bit on reports that Russia a suggests to hold another round of peace talks with Ukraine, while Vladimir Putin’s forces continue to shell multiple crowded Ukrainian cities. Stocks are recovery but remain vulnerable to more selloff. In the currency markets, Swiss Franc is paring some gains but remains the strongest one
Federal Reserve Board Chairman Jerome Powell speaking at a re-nomination hearing of the Senate Banking, Housing and Urban Affairs Committee, on January 11, 2022, in Washington, DC. Pool / Getty Federal Reserve Chairman Jerome Powell still sees interest rate hikes coming, but noted Wednesday that the Russia-Ukraine war has injected uncertainty into the outlook. In
In this article SNOW CEO of Snowflake Frank Slootman arrives at the Allen & Company Sun Valley Conference on July 6, 2021, in Sun Valley, Idaho. Kevin Dietsch | Getty Images News | Getty Images Snowflake shares dropped as much as 30% in extended trading on Wednesday after the data-analytics software company showed the slowest
Federal Reserve Chair Pro Tempore Jerome Powell and some members of the United States House of Representatives called for congressional action on crypto in response to discussions about Russia potentially evading sanctions. In a Wednesday hearing of the House Financial Services Committee on “Monetary Policy and the State of the Economy,” California Representative Juan Vargas
AUD/USD holds upside bias, although capped by 0.7280/85. US data: ADP report comes above expectations. Fed’s Powell: Fed prepared to raise rates in March, economic outlook uncertain. The AUD/USD is rising modestly on Wednesday on the back of a recovery in risk sentiment and amid higher commodity prices. The pair peaked at 0.7281 and then