Showing posts from July, 2022

How Did Asia, Europe, and US Markets Close Last Friday, July 29, 2022:

Source : Hong Kong's Hang Seng drops more than 2% with tech stocks under pressure; yen strengthens Abigail Ng 5-6 minutes SINGAPORE — Hong Kong's Hang Seng index fell more than 2% on Friday as tech stocks came under pressure. The benchmark index slipped 2.64% in the final hour of trade, while the Hang Seng Tech index dropped 5.41%. Hang Seng heavyweights Alibaba and Meituan dropped 7.01% and 7.18% respectively. Alibaba is on track for a third straight session of losses following news earlier this week that several Ant Group executives have stepped down as Alibaba partners. Meituan shares plunged after the company was summoned by Hangzhou's market regulator over food safety and price competition. Shares of Standard Chartered initially popped more 2% after the bank reported a 19% jump in profits for the first half of the year and announced a $500 million share buyback. T

Asia, Europe, and US Market Closing Report | July 28, 2022:

  ASIA Source: Asia-Pacific markets are mostly higher after the Fed hikes rates Abigail Ng 4-5 minutes Mainland China markets rose. The Shanghai Composite gained 0.23% to 3,283.14 while the Shenzhen Component was up 0.23% at 12,428.72. Japan’s Nikkei 225 was 0.36% higher at 27,815.48, while the Topix index inched up 0.16% to 1,948.85. MSCI’s broadest index of Asia-Pacific shares outside of Japan rose 0.8%. Fed hike The rate hike takes the Fed funds rate to its highest level since December 2018. Fed Chair Jerome Powell’s guidance about the central bank’s next moves boosted U.S. stocks overnight. “As the stance of monetary policy tightens further, it likely will become appropriate to slow the pace of increases while we assess how our cumulative policy adjustments are affecting the economy and inflation,” he said. With nearly two months before the next Fed meeting, during which the

Metals | Spot Prices Closing | July 28, 2022:

 Source: cmigold&silver Spot Prices as of close of trading in New York Thursday, July 28, 2022 GOLD

Reuters Exclusive News | Cassava Sciences Faces U.S. Criminal Probe Tied to Alzheimer's Drug, Sources Say | July 27, 2022:

  Source: July 27, 202212:41 PM GMT-5Last Updated 3 hours ago 6-7 minutes WASHINGTON, July 27 (Reuters) - The U.S. Justice Department has opened a criminal investigation into Cassava Sciences Inc (SAVA.O) involving whether the biotech company manipulated research results for its experimental Alzheimer's drug, two people familiar with the inquiry said. The Justice Department personnel conducting the investigation into Austin, Texas-based Cassava specialize in examining whether companies or individuals have misled or defrauded investors, government agencies or consumers, according to the sources, who spoke on condition of anonymity. The sources did not provide details of the focus of the probe and whether the department was looking into any specific individuals. As in any Justice Department investigation, this one could lead to criminal charges or be closed without any charges being

Corporations News | Facebook Owner Meta Sees First Ever Sales Decline | July 27, 2022:

Source: BBC News 1 minute Image source, Getty Images Image caption, Mark Zuckerberg is pushing his company to invest in the metaverse The owner of Facebook and Instagram was hit by a fall in ad sales in the three months to July - the first year-on-year revenue decline in the firm's history. Total revenue slipped 1% to $28.8bn (£23.7bn), but parent company Meta fended off a decline in users. That's still a marked shift for the social media network, which has enjoyed years of double digit growth. It comes amid increased competition from TikTok and giants like Amazon. Earlier this year, Facebook reported its first ever decline in daily active users. In response, the company recently shifted its algorithms on Instagram and Facebook to act more like TikTok, recommending posts to users from outside the base of accounts they follow.