These are the stocks posting the largest moves before the bell.
Archiv für den Monat: Mai 2022
Americans are more stressed about money than ever, and it’s hurting our mental health
Bitcoin production roars back in China despite Beijing’s ban on crypto mining
New research from the Cambridge Centre for Alternative Finance shows that Chinese bitcoin mining activity has quickly rebounded.
Goldman Sachs cuts its China GDP forecast to 4% on Covid controls
Goldman Sachs analysts cut their forecast for China GDP to 4% after data for April showed a slump in growth as Covid controls restricted business activity.
JPMorgan investors hand Jamie Dimon a rare rebuke with disapproval of $52.6 million bonus
The disapproval was the first time JPMorgan’s board suffered a down vote on compensation since „say on pay“ measures were introduced more than a decade ago.
Lowe’s sales decline as cool spring weather weighs on demand for outdoor products
The home improvement retailer’s profit topped Wall Street estimates for the quarter, even as sales missed the mark.
Target shares sink 25% after company says high costs, inventory woes hit profits
The big-box retailer said it saw a healthy customer, but a shift to experience-based purchases, such as toys for birthday parties and luggage for trips.
Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue
Southeast Asian tech giant Sea’s shares rebounded, but its e-commerce site could slow due to macro uncertainties.
ForexLive European FX news wrap: Dollar advances as storm clouds return
Headlines:Dollar checks back its early week lossesUK April CPI +9.0% vs +9.1% y/y expectedECB’s Rehn: It is necessary for rates to move relatively quickly out of negative territoryECB’s de Cos: Bond buying should end in early Q3, first rate hike to follow shortly afterUS MBA mortgage applications w.e. 13 May -11.0% vs +2.0% priorEurozone April final CPI +7.4% vs +7.5% y/y prelimJapan to hold auction to sell 4.7 mil bpd of oil from its national reserve on 10 JuneMarkets:JPY leads, GBP lags on the dayEuropean equities lower; S&P 500 futures down 0.8%US 10-year yields up 2.1 bps to 2.991%Gold down 0.1% to $1,812.23WTI crude up 1.7% to $114.30Bitcoin down 1.0% to $29,727It was mostly a quiet session in terms of key headlines, though we did see UK inflation surge to 9% – its highest in some 40 years.That will keep the pressure on the BOE to act more aggressively but also squeeze the purse strings of UK consumers, with the cost-of-living crisis set to worsen in the months ahead.Risk tones were more cautious and that saw a return to old habits in markets with the dollar and yen gaining, while equities slumped.European indices were little changed early on but are posting slight losses now with US futures marked lower after a more sluggish start to the session earlier. Elsewhere, bonds are also offered with 10-year Treasury yields moving up to close in on the 3% mark again.In FX, EUR/USD is marked down by 0.3% to test 1.0500 while GBP/USD retreated from 1.2500 at the start of the day to hit a low of 1.2370 before keeping near 1.2400 currently.AUD/USD is also dragged lower by 0.3% to test the 0.7000 handle on the session while USD/CAD is up 0.2% to around 1.2830-40 levels.As much as there was some scope for optimism early this week, the subtle moves today are but a reminder that the storm clouds are still hanging over markets for the time being.
China premier Li Keqiang: There is still policy room to cope with economic challenges
Downward pressure on the economy is increasingWill ensure economic operations in 1H 2022 are within reasonable rangeWill take effective measures to boost confidence of private firmsPretty much the usual talk as China continues to reaffirm support for the economy. I don’t think this is much of a hint of a LPR cut this coming Friday but we’ll see.