Tag: Stock

Stock Futures Soar as May Job Report and Debt Ceiling Passage Shows Promises

The debt ceiling bill’s approval provided even another reason for the positive rally in stock futures. In an exciting development, US stock futures have continued to soar as traders make meaning of the highly anticipated May jobs report and celebrated the passing of a debt ceiling bill by United States lawmakers. According to reports, futures on the Dow Jones Industrial Average (INDEXDJX: .DJI) rose by 180 points or 0.5%. Similarly, futures connected to both the S&P 500 (INDEXSP: .INX) and Nasdaq 100 both rose by 0.5%. These bullish signs set…

Hong Kong Stock Market Takes Lead in Asia-Pacific Market Rally

The Asia-Pacific markets displayed a positive trend, with gains observed in South Korea, Japan, mainland China, and Australia. The Hong Kong stock market featuring indices like the Hang Seng Index (INDEXHANGSENG: HSI) experienced a notable bullish surge in its recent trading session, as investors eagerly await the US May jobs report. The Hang Seng Index finished 4.02% higher at 18,949.94, creating significant market excitement and investor optimism. According to reports, the consumer and real estate sectors drove the index’s gains, with significant performances from businesses such as Longfor Group Holdings…

Global Stock Market Shows Differing Growth Strides as Inflation Fears Remain

Of the key markets in the Asia Pacific region, only the South Korean Kosdaq saw a slight uptick. The global stock market is experiencing differing growth moves as key inflation markers in many regions remain positive. In Hong Kong, the Hang Seng Index (INDEXHANGSENG: HSI) is down by 2.22% after shedding a massive 411 points to be pegged at 18,183.80. While the Hang Seng Index is merely trailing all the other Asian stock indices, it officially entered a bear zone with its current performance. In what appears to be a…

Tel Aviv Stock Exchange Taps TipRanks’ Tools

boss

Israel’s Tel Avil Stock Exchange (TASE) has integrated TipRanks’ Smart Portfolio solution with the bourse’s new consumer-facing platform, TASE+, which provides users insight into their portfolio holdings, Finance Magnates learned exclusively. “We are excited to introduce our innovative Smart Portfolio to the Start-Up Nation,” said the CEO of TipRanks, Uri Gruenbaum. Uri Gruenbaum, CEO TipRanks “Now, all Israeli investors who trade on the TASE will have access to the same top-level investing insights as professional traders and hedge funds. TipRanks levels the playing field for everyday investors, giving them the…

Foot Locker Posts Q1 2023 Results, Sees Stock Sink 25% on Sales Drop

Sportswear and footwear retail company Foot Locker took a beating in its Q1 2023 report after sustaining an 11% drawdown in revenue.  Foot Locker Retail Inc (NYSE: FL) plunged 25% following a big earnings miss in the Q1 2023 outing. For the first quarter of 2023, the sportswear and footwear retailer reported revenue of $1.93 billion versus the $1.99 billion analysts expected. In addition, the company realized earnings per share of 70 cents adjusted versus 81 cents expected. Following Friday’s disappointing Q1 2023 report, Foot Locker lowered its guidance for…

Blockchain Plans Scrapped By Australian Stock Exchange

Blockchain technology has been sidelined by the Australian Securities Exchange (ASX), a prominent entity in the nation’s financial domain, as it departs from its original intentions of utilizing blockchain to reconstruct its software platform. This unexpected move signifies a momentous shift in the perception of a once-celebrated concept that rose to prominence alongside the growing popularity of cryptocurrencies. The decision to abandon blockchain rebuild marks a significant turning point, highlighting the challenges and limitations that have become apparent during its implementation journey. Blockchain Ditched: ASX Explores New Paths For Software…

Netflix Stock Jumps 9% on Ad-Tier Growth, Currently Trading at $371

Streaming giant Netflix experienced a rise in stock value Thursday after pitching advertisers at its first Upfronts session. Netflix Inc (NASDAQ: NFLX) recently saw its stock jump more than 9% on commendable ad-tier growth. On Wednesday, the entertainment and mass media company unveiled details about its new ad development to advertisers. Netflix said its new ad-supported tier is growing, as a quarter of its new subscribers chose the option. In addition, the streaming giant revealed that the cheaper ad-supported tier has a monthly active user base of 5 million. Wednesday’s session…

Australian stock exchange officially abandons blockchain plans: Report

boss

Australia’s stock market operator has decided to abandon its plans of rebuilding its software platform using blockchain technology, marking a significant rejection of the once-celebrated concept that gained prominence through its association with cryptocurrencies. The Australian Securities Exchange (ASX) caused frustration among market participants in November when it decided to “pause” the rebuild of its comprehensive trading, settlement and clearing software based on decentralized computing. An external review concluded that after seven years of development, significant rework was necessary. Following the initial pause, the company has indicated that it is…

Baidu Stock Jumps 2% after Better-than-Expected Revenue News

Baidu is setting the pace in the AI scene for other tech giants in China. Chinese internet giant Baidu Inc (HKG: 9888) has seen a major uptick in its share price today following the release of better-than-expected revenue. Baidu impressed its investors as one of the top tech giants that saw a major uptick in profitability following the reopening of the Chinese economy after year-long Covid-19 restrictions. According to the data shared by the company, it said it recorded a 31.1 billion yuan ($4.5 billion) revenue for the three months…

Soluna stock rises after Navitas makes $14m investment

Crypto mining data center Soluna Holdings (SLNH) shares experienced a significant 12.25% increase on May 15 as it announced a $14 million funding agreement with Navitas Global, which is earmarked for the completion of Project Dorothy 1B in Texas. This infusion of funds not only supports the development of the project but also may signal a resurgence of cryptocurrency mining. A comprehensive deal According to Google Finance, in the last 24 hours, the price of Soluna Holdings’ shares increased from $0.20 to $0.23. Soluna Holdings 5 Day Price Chart |…