Sunday , September 26 2021

5 Keys Today on Wall Street By

© Reuters.

By Geoffrey Smith – US GDP. UU. Second quarter and weekly unemployment applications will be announced today. Chinese markets bounce back after regulators tried to calm investors ’nerves.

Didi comes up with a report that his sponsors can take back in private. Amazon (NASDAQ: NASDAQ 🙂 reports earnings after the bell, while Facebook (NASDAQ: NASDAQ 🙂 and Paypal (NASDAQ: NASDAQ 🙂 struggle to meet high expectations.

And Robinhood’s IPO runs the risk of failing, but not as much as battery maker Clarios.

This is what you need to know in the financial markets on Thursday, July 29th.

1. China’s markets are recovering after regulators extend the olive branch

Chinese stock markets rebounded sharply after China’s Securities Regulatory Commission called on large banks and local and foreign investors to assure them that actions taken against online education companies were an isolated incident. and they were not of wider importance to the market.

The CSRC reportedly said it was still committed to allowing Chinese companies to access foreign capital markets.

China’s technology stocks have been hit by a wave of regulatory action in recent weeks. Didi Global, the shared travel giant, recovered more than 30% in pre-market operations after The Wall Street Journal reported that its sponsors could make it private again to appease regulators who had advised against it. its quotation in EE. UU.

2. Unemployment and GDP applications for the second quarter

The United States will release its first second-quarter Gross Domestic Product estimate today. Growth is expected to accelerate at an annualized rate of 8.5% from 6.4% in the first quarter, reflecting the reopening of the country services sector as the Covid-19 pandemic receded.

The figures come a day after Federal Reserve Chairman Jerome Powell indicated he would not rush to cut his bond purchases (which currently amount to $ 120 billion a month) in a couple of quarters of growth and inflation above the trend. The dollar fell to a two-week low on Wednesday as the market lowered expectations of an early tightening of policy.

There will also be the latest weekly numbers of unemployment claims. They are expected to have fallen back to 380,000, from 419,000 a week earlier.

3. Facebook warns slowdown and Paypal has problems, but stocks will go up

The earnings season continues, with Facebook falling nearly 4% before opening, after warning of a possible slowdown in ad revenue due to changes in Apple’s latest iOS operating software (NASDAQ 🙂 that make it difficult to monitoring user behavior.

Paypal, another big pandemic winner, which also reported Wednesday night, fell 4.7% after reflecting a slowdown in new net users.

They earned less than the night session, trading unchanged, while the {{8873 | Jones}} futures rose 153 points, or 0.4%, to 0.2%.

Amazon tops the list of companies reporting on Thursday, after closing.

4. Robinhood trades the IPO at the bottom of the strip; Clarios postpones

Robinhood valued its initial public offering at the lower end of its range as investors hesitated to commit to a company that has had recent, high-profile clashes with regulators over its business model.

The company’s bankers set the price at $ 38 a share. That still gives it a valuation of about $ 32 billion, nearly three times its estimated valuation in a round of private funding last year.

The shares will debut on the market today. That’s more than can be said for Clarios International, a Brookfield-backed battery maker that reported Bloomberg postponed its debut indefinitely due to market conditions. Clarios hoped to raise up to $ 1.8 billion.

5 Oil reaches its peak in two weeks; Shell (LON 🙂 favors

Prices will rise to a maximum of two weeks after US government data. UU. They confirmed a solid draw on inventories last week.

While relations between Iran and the West point out that Iranian supply will not return to the world market as quickly as had been predicted a month ago.

The mood was also improved by the quarterly updates of Royal Dutch Shell (NYSE: RDSa) and Total Energies, with Shell in particular channeling extra money to shareholders, rather than increasing its capital expenditure.

U.S. crude futures were up 0.5% at $ 72.75 a barrel, while they were up 0.2% at $ 74.12 a barrel.

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