Jakub Porzycki | Nurphoto | Getty Images The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group. Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more
Signage at JD.com’s warehouse in Shanghai, China, on Mar. 9, 2022. The U.S. Securities and Exchange Commission on Wednesday added over 80 firms to its list of entities facing possible expulsion from American exchanges, which include China’s JD.com, Pinduoduo, Bilibili, and NetEase. Qilai Shen | Bloomberg | Getty Images Shares of Chinese e-commerce giant JD.com … Read more
Traders work the floor of the New York Stock Exchange on August 16, 2024. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you … Read more
A person seen walking next to the Alibaba’s corporate logo, in front of its office building at Chaoyang Technology Park in Beijing, China. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese e-commerce giants Alibaba and JD.com‘s quarterly results from Thursday underscored the slowdown in China’s consumer market, with retailers struggling to attract value-conscious … Read more
Signage at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Friday, Aug. 2, 2024. Qilai Shen | Bloomberg | Getty Images Alibaba missed top and bottom line expectations for the June quarter of 2024 as it continues to face headwinds in its core e-commerce business amid rising competition and a cautious Chinese consumer. … Read more
It was another volatile week for stocks, but Wall Street ultimately finished lower again. The market experienced a sharp sell-off Monday on recession concerns, which led the S & P 500 and Dow Jones Industrial Average to its worst single-day performances since 2022. The VIX index — Wall Street’s fear gauge and a measure of … Read more
Democratic vice presidential candidate and Minnesota Governor Tim Walz (L), and Republican Vice Presidential candidate Sen. JD Vance (R-OH). Getty Images Housing Affordable housing is an important topic for many Americans and both Walz and Vance have addressed the issue. In May 2023, Walz signed housing legislation that included $200 million in down payment assistance. … Read more
Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida. Joe Raedle | Getty Images Former President Donald Trump said Thursday that he plans to stay off the presidential campaign rally circuit until after the Democratic National Convention, which ends Aug. … Read more
Democratic vice presidential candidate, Minnesota Governor Tim Walz, speaks during a campaign rally with U.S. Vice President and Democratic presidential candidate Kamala Harris, in Philadelphia, Pennsylvania, U.S., August 6, 2024. Kevin Lamarque | Reuters With their running mate selections, Donald Trump and Kamala Harris have opened up a new front in the battle for the … Read more
