- Barry Adams
- 04 Apr, 2022
- New York City
Twitter soared as much as 25% after Tesla CEO Elon Musk reported 9.2% passive stake in a regulatory filing. Tesla gained 1% after the company said EV shipment jumped 69% in the first quarter to 310,000. Starbucks declined 4% after coffee chain suspended $20 billion stock repurchase program announced three weeks ago. JD.com, Alibaba, Bilibili advanced after China tech stocks surged.
- Barry Adams
- 04 Apr, 2022
- New York City
U.S. stocks opened higher and German Chancellor said Western nations are set to impose additional sanctions on Russia this week. In Asian markets, Hong Kong index surged 2% led by a surge in Chinese tech stocks after China proposed to remove a key audit requirement for the U.S. listed companies. European markets also extended gains.
- Barry Adams
- 03 Apr, 2022
- New York City
Hungarian Prime Minister Viktor Orban is set to win fourth consecutive general election with two-thirds majority, according to the election commission. Orban ran on a platform of closer ties with Russia for the energy security and has opposed the arms trans-shipments to Ukraine and anti-immigration policies.
- Mukesh Buch
- 01 Apr, 2022
- New York City
Investors bid up stocks on the first day of April and second quarter after facing worst return in the previous quarter in two years. A decline in oil price below $100 a barrel and a sustained recovery in the job market also helped the sentiment. 2-year at 2.448% closed above 10-year bond yield. Energy stocks were on the defensive after leading other sectors in the first quarter with 33% surge.
- Brian Turner
- 01 Apr, 2022
- New York City
Crude oil continued its slide for the seventh trading session in a row after many European nations, Canada, Japan, and South Korea agreed to join the United States in releasing more oil to the market. The International Energy Agency, an association of western countries said today. West Texas crude oil future price dipped below $100 a barrel in New York trading.
- Scott Peters
- 01 Apr, 2022
- New York City
Five Below, Inc, the deep discount retailer reported December quarter sales increased 16% to $996.3 million from a year ago period and net income rose 13.1% to $140.2 million. Diluted earnings per share also increased 13% to $2.49 from $2.20 in a year ago period. In the first quarter the retailer anticipates diluted earnings per share between 54 cents and 61 cents.
- Scott Peters
- 29 Mar, 2022
- New York City
lululemon athletica reported fourth quarter total revenues increased 23% to $2.1 billion on growth of 21% in North America and 35% in international sales. Total comparable store sales increased 32%. The retailer added 22 new stores in the quarter totaling 574. Net income increased to $434 million from $329.8 million and earnings per share rose to $3.36 from $2.52.
- Scott Peters
- 01 Apr, 2022
- New York City
H&R Block said December 2021 quarter revenues increased 12% to $159 million from a year ago and net loss shrank to $190.6 million from $255.8 million. Loss per share declined to $1.09 from $1.38 on 5.7% shrink to 173.3 million after the company repurchased 6.6 million shares in the quarter.
- Barry Adams
- 01 Apr, 2022
- New York City
GameStop advanced after the company is looking to increase outstanding shares to 1 billion from 300 million to enable a stock split. BlackBerry dropped after the company reported unexpected profit but missed the quarter revenues estimate. Li Auto, China-based electric vehicle maker delivered nearly 32,000 deliveries, more than double in the period a year ago.
- Brian Turner
- 01 Apr, 2022
- New York City
U.S. corporations continued to add jobs on the sustained post-pandemic labor market recovery. Nonfarm payrolls increased 431,000 in March and the unemployment rate declined to 3.6%. Revisions also suggested a stronger trend in place with January additions were revised higher 23,000 to 504,000, February jobs were up by 77,000 to 750,000. For the quarter new additions were 1.69 million.
- Mukesh Buch
- 31 Mar, 2022
- New York City
U.S. indexes slid on the final day of the quarter led by 2.4% decline in tech heavy Nasdaq. Popular indexes delivered worst quarterly performance in two years with S&P falling 5% and Nasdaq dropping 9.4%. Bond market also delivered worst quarter after inflation worries gripped investors and 2-year and 10-year bond yields matched at 2.34%.
- Barry Adams
- 31 Mar, 2022
- New York City
Weekly initial jobless claims increased 1to 202,000 for the week ended March 26, and increase of 14,000 from the previous week, according to the Labor Department. Continuing jobless claims reached a record high of 6.2 million in April 2020 and have now declined to 1.3 million, the lowest since December 27, 1969. Nonfarm payroll report on Friday is expected to show a smaller increase than in Feb.
- Boris Petrov
- 31 Mar, 2022
- New York City
Commodities are set to deliver their best quarter in more than three decades after crude oil prices surged 43%, wheat soared 33%, aluminum jumped 26%, nickel soared 58% and gold gained 7%. Copper, zinc, and lead added between 5% and 6% in the quarter.
- Brian Turner
- 31 Mar, 2022
- New York City
Consumer spending growth slowed in February after the rising gasoline prices and surging rent forced consumers to cut other expenses. Spending rose 0.2% in February and January spending increase was revised higher to 2.7% from 2.1%. The personal consumption expenditure index increased 0.6% in February, an increase of 6.4% from a year ago, after rising at 0.5% in January.
- Brian Turner
- 31 Mar, 2022
- New York City
Volatile oil prices turned lower after reports suggested that the U.S. is preparing to release at least one million barrels of oil a day for the next six months to stem the rising prices. OPEC and its allies agreed to a small increase of output by 432,000 barrels a day and reminded that the prices are decided by markets in New York and London.