Chinese Stock Market Crashed and The U.S. Markets are Plummeting; Trade War Weighs on Sentiments

Siraj Sarwar

The global stock markets started forming a bearish trend amid renewed threats of a trade war and the prospects for the economic downtrend. The stock markets in China and the United States experienced worst daily losses this week after a top U.S. trade official vindicated Donald Trump’s announcement that tariffs on Chinese goods are coming…

jim-farley-ford auto

Stay away from auto stocks, warn traders

Mohit Oberoi

Auto stocks suffered badly this year as production was shut down for weeks due to the coronavirus pandemic, but even though output has restarted, traders are advising investors not to get their motors running. On Tuesday, Ford made a surprise announcement that chief executive Jim Hackett would retire in October and Jim Farley (pictured), the…

China girl with Apple device

Apple, Nike may lose out amid rising US-China tension, warns trader

Mohit Oberoi

Apple and Nike are vulnerable to escalations in US-China tensions, according to Mark Tepper, president of money manager Strategic Wealth Partners, as relations between the world’s two biggest economies have soured amid tit for tat closures of consulates. “China accounts for about 20% of revenues for both companies, and I think what people need to…

US-China trade tensions may lead to ‘new cold war’

Mohit Oberoi

Relations between the world two biggest economies China and the US are on “the brink of a new cold war”. “It’s time for the United States to give up its wishful thinking of changing China and stopping 1.4 billion people in their historic march toward modernisation,” said China’s foreign minister, Wang Yi (pictured), in a…

china exports fall

China Admits to Stress On its Export Sector Amid ‘Politicization of Trade’

Mohit Oberoi

China’s Commerce Ministry has admitted that its exports sector, which is a key driver of its economy, has been hit due to what it described as “politicization of trade.” China recently reported its Q2 2023 GDP data that came in below estimates. According to CNBC translation, Li Xingqian, the head of the ministry’s external trade…

zoom

Zoom Stock Trades Flat Even after the Company Raised Its Annual Guidance

Mohit Oberoi

Zoom Video Communications (NYSE: ZM) stock is trading flat in US premarket price action today after even as the company beat earnings estimates for the first quarter of fiscal year 2024 and also raised its annual guidance. Zoom reported revenues of $1.11 billion in the fiscal fifth quarter that ended in April. The revenues rose…

netflix q1 2023 earnings

Netflix Stock Trades Flat after Mixed Q1 Results: Key Takeaways

Mohit Oberoi

Netflix (NYSE: NFLX) released its earnings for the first quarter of 2023 yesterday after the markets closed. While the stock initially crashed following the release it subsequently recovered and is trading flat in US premarket price action today. Netflix reported revenues of $8.16 billion in the quarter which was slightly short of the $8.18 billion…

microsoft

Microsoft Stock Trades Lower on Mixed Earnings & Tepid Guidance

Mohit Oberoi

Microsoft (NYSE: MSFT) stock is trading lower in US premarket price action today. The company posted mixed earnings for its fiscal second quarter of 2023 and also provided tepid guidance which spooked investors. Microsoft reported revenues of $52.7 billion in the quarter that ended in December. The revenues rose 2% YoY and missed analysts’ estimate…

apple

Apple Stock Drifts Towards 52-Week Lows as US Markets Plummet

Mohit Oberoi

Those fancying a Santa Claus Rally this year are in for a rude shock as US markets have plummeted this week. Apple stock (NYSE: AAPL) which was holding steady so far is also drifting towards its 52-week lows amid the crash. Meanwhile, despite the recent weakness Apple stock is outperforming not only its FAANG peers…