- Spark Newswire

2 minute read

Bill Ackman Explains Why Inflation, Not Fed Rate Hike, Is Biggest Threat To US Economy

Today, 12:37 PM

Billionaire hedge fund manager and CEO of Pershing Square Holdings Ltd. (OTC: PSHZF) Bill Ackman explained through a series of tweets that the biggest risk to the U.S.

PSHZF

2 minute read

Alibaba, Nio Fall Over 3% As Hang Seng Tracks Weaker Wall Street Close: All Eyes Now On Aussie Inflation Data

By Bhavik Nair

Today, 12:37 PM

Shares of Alibaba, Nio and Li Auto lost more than 3% on Wednesday morning with the Hong Kong’s benchmark index Hang Seng falling over 1%, ahead of the release of Australia’s inflation report.

BABA

1 minute read

Why Non-Profits Are Urging Elon Musk Not To Invest In Indonesia’s Nickel Industry

By Bhavik Nair

Today, 12:37 PM

Multiple non-governmental organizations (NGOs) have reportedly sent an open letter to Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, asking him not to invest in Indonesia's nickel industry owing to environmental concerns.

TSLA

1 minute read

Oil Gains As Russia Leaves Europe Gasping For Natural Gas

By Bhavik Nair

Today, 12:37 PM

Oil rose in Asia trading on Tuesday morning, driven by anticipation that Russia's reduction of natural gas supply to Europe would prompt a switch to crude, although demand concerns on possible U.S. rate hikes kept a lid on gains.

OGZPY

2 minute read

Alibaba Surges 3.6% On Primary Hong Kong Listing Plan, Hang Seng Sees Trend-Reversal

By Bhavik Nair

Today, 12:37 PM

Hong Kong’s benchmark Hang Seng Index opened in the green on Tuesday, flipping the trend from Monday, as better-than-expected economic growth data from South Korea offset mixed cues from Wall Street ov

BABA

1 minute read

Silver Prices Fall To 2-Year Low As Demand From Top Consumer China Falls — US Recession Fears Add To Woes

By Bhavik Nair

Today, 12:37 PM

Silver prices have hit a two-year low as industrial demand from top consumer China remain low following strict COVID-19 restrictions in the country.

AGQ

1 minute read

Why Alibaba, Uber-Backed Zomato’s Stock Is Nosediving Today

By Bhavik Nair

Today, 12:37 PM

Shares of Indian food-delivery firm Zomato plunged 14% in intra-day trade on Monday touching as low as INR 46 per share, thereby, wiping out over $125 million in investor wealth.

BABA

1 minute read

Oil Hits 1-Week Low As EU Eases Russian Sanctions, US Demand Concerns Grow

By Bhavik Nair

Today, 12:37 PM

Oil fell in Asia trading on Monday morning, dragged by the European Union (EU) easing sanctions on Russian oil and growing demand concerns in the United States ahead of a possible rate hike later this week.

OGZPY

1 minute read

Dollar Pares Losses Against Major Peers As Potential 75 Bps Fed Rate Hike Looms

By Bhavik Nair

Today, 12:37 PM

The U.S. dollar traded strongly on Monday morning, gaining against most peers ahead of a potential 75 basis points rate hike by the U.S. Federal Reserve later this week. The U.S. dollar index, which measures the greenback’s strength against a basket of currencies, traded close to 106.64, below its two-decade high of 109.29 recorded in early July.

SPY

2 minute read

Alibaba Drops 2%, Nio Leads EV Crash With 7.5% Plunge: Is Snap Fallout Behind Hang Seng Bloodbath?

By Bhavik Nair

Today, 12:37 PM

Hong Kong’s benchmark Hang Seng Index opened in the red on Monday following a weaker close on Wall Street on Friday, which was dominated by a plunge in social media stocks. The Hang Seng fell 0.6% in opening trade ahead of the crucial U.S. Federal Reserve meeting later this week that could potentially see a 75 bps rate hike.

BABA