AMC stock may sink after Lightyear falls short

AMC stock zoomed higher on Friday and may benefit further once markets open on Tuesday after Monday’s Juneteenth holiday. The weekend box office receipts were decent but not better than the previous weekend. However, summer blockbusters like Jurassic World Dominion and the new release Lightyear helped bring in the crowds. Overall, the June 17 to … Read more

BABA soars on news of Ant approval

Alibaba’s stake in Ant Group may bear fruit as shares soar 10% on open. BABA still needs to break through $120 resistance. Chinese Communist Party approves financial holding company status of Ant Group. What began 18 months ago with Ant Group, the fintech wunderkind that fell afoul of Chinese regulators and had its IPO blocked, … Read more

Carefully watching impact of changes in US monetary policy

“Carefully watching the impact of changes in US monetary policy on Japan’s economy,” Japanese Finance Minister Shunichi Suzuki said on Friday. Additional comments Watching fx market moves with even more sense of urgency while working with BOJ. Expects BOJ to continue efforts to achieve price target sustainably, stably. Rapid yen weakening seen in fx market … Read more

China to set up centralised iron ore buyer to counter Australia’s dominance – FT

Financial Times (FT) came out with a story signaling more disputes between Australia and China as Beijing searches for a centralized iron ore producer. “China is moving to consolidate the country’s iron ore imports through a new centrally controlled group by the end of this year, as Xi Jinping’s administration seeks to increase Beijing’s pricing … Read more

Fitch affirms Canada’s ratings at ‘AA+’ with stable outlook

Global rating giant Fitch affirmed Canada’s Long-Term Foreign-Currency and Local-Currency Issuer Default Ratings (IDR) at ‘AA+’ with a Stable Rating Outlook. Fitch expects firm Canadian economic growth of 3.8% in 2022, decelerating to 2.2% in 2023. “Fitch’s baseline is that BOC will lift the overnight rate another 150bps to 3% by YE2022 and sustain it … Read more

Focus is on bringing down costs and Federal deficit – CNN

“US economy is in a transition,” said White House (WH) Economic Adviser Brian Deese during an interview with CNN on Tuesday. The policymaker also signaled the WH’s aim to ease the price pressure and the Federal shortage during the interview. Market implications Such comments from the key diplomat ahead of the Federal Open Market Committee … Read more

Sundial Growers loses footing at psychological $0.30 level

NASDAQ:SNDL fell by 8.76% during Monday’s trading session. Cannabis stocks are in trouble ahead of another looming interest rate hike. Another analyst downgrade hits a Sundial Growers domestic rival. UPDATE: Sundial Growers stock has lost the 30 cents level. After surpassing the range low on May 12 of $0.3412 last week, $0.30 was the last … Read more

UK business confidence tumbles to one-year low over inflation fears – Times

“Business confidence fell to its lowest level in more than a year last month amid growing fears that inflation poses a long-term threat to company sales,” said the UK Times in its latest news during early Tuesday morning in Asia. “Confidence among companies is now at levels last seen in April 2021, when coronavirus restrictions … Read more

DOCU stock sits flat ahead of Thursday’s Q1 results

DocuSign will report FQ1 2022 earnings after Thursday session. The SaaS company is expected to report $0.46 in adjusted EPS on revenue of $580.85 million. DOCU stock is down 42.6% in 2022 on multiple compression, reduced guidance. DocuSign (DOCU) stock is flat to down in Thursday’s premarket ahead of earnings results expected after the close. … Read more