The U.S. Federal Reserve (Fed) has decided to leave interest rates unchanged as the economy is proving more robust than expected. Although most Fed members expect a later rate hike this year and few rate cuts in 2024, Fed Chairman Powell emphasized the reliance on data for decisions and the cautious approach to finding optimal…
The Canadian dollar, the loonie, has lost luster in recent weeks as analysts have scaled back their near-term forecasts. The reasons for this are the ailing Chinese economy and rising interest rate differentials between the USA and Canada. China’s economic growth is slowing as policymakers try to address the property market downturn. Canada is a…
German industrial orders fell surprisingly sharply in July, posting an 11.7% month-on-month decline, according to the Federal Statistical Office. Analysts had expected a decline of 4.0%. The decrease was mainly attributed to the previous month’s increase in the aerospace sector. New orders in June were up unexpectedly, indicating the volatile nature of the order situation.…
Despite the positive US Nonfarm Payrolls, the US dollar has already been under pressure since Thursday. The higher-than-expected unemployment rate could be just one of the reasons. Against the Japanese yen, the U.S. dollar, which slipped more than 1.2% at times on Friday, was able to trade slightly higher again as of today’s Monday. However,…
Shanghai, August 23, 2023 – Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961), a leading global travel services provider, plans to release its second quarter 2023 financial results on September 4, 2023 after market close. Trip.com Group offers a full range of travel products and services, including hotel reservations, transportation ticket bookings, package tours and business…
The highly anticipated U.S. Nonfarm Payrolls were released at 2:30 p.m. today and surprised the markets positively. Instead of the expected 170,000 new jobs, 187,000 were reported. This is an important indicator of the strength of the U.S. economy because it captures the change in employment over the previous month, excluding agricultural jobs. The reaction…
Renowned electronics retailer Best Buy reported strong second-quarter results that exceeded expectations despite the ongoing difficulties in the consumer electronics industry. The company’s sales were at the upper end of the forecast, while profitability was a positive surprise. Best Buy CEO Corie Barry highlighted the company’s solid operational execution while adapting to current market conditions…
The second quarter of 2023 brought a challenging environment for Chinese e-car producer Nio in terms of vehicle sales. According to the latest financial results, the company recorded vehicle sales of RMB 7,185.2 million (US$990.9 million), down 24.9% from the second quarter of 2022 and down 22.1% from the first quarter of 2023. The vehicle…
Chinese tech firm Baidu reported impressive revenue growth of 15% year-over-year for the second quarter of 2023, supported by the advertising industry. This growth marked the strongest quarterly growth in the last two years. Baidu shares, which trade on the U.S. stock market, rose more than 4% in premarket trading. Q2 results were slightly higher…
Zoom Video Communications, Inc. (NASDAQ: ZM) announced its financial results for the second quarter of fiscal 2023, which ended July 31, 2023. Total revenue for the quarter was $1.14 billion, an increase of 3.6% year-over-year. Sales in the Enterprise segment even rose by an impressive 10.2% year-on-year. Operating margins reached 15.6% under GAAP (generally accepted…
