Alibaba, JD.com expect consumer slowdown ahead of China’s Singles’ Day sales on...
source link: https://finance.yahoo.com/video/alibaba-jd-com-expect-consumer-221328577.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Alibaba, JD.com expect consumer slowdown ahead of China’s Singles’ Day sales on Friday
S&P Futures
3,983.50+22.50(+0.57%)Dow Futures
33,891.00+179.00(+0.53%)Nasdaq Futures
11,719.00+86.75(+0.75%)Russell 2000 Futures
1,884.40+14.00(+0.75%)Crude Oil
88.69+2.22(+2.57%)- 1,759.70+6.00(+0.34%)
Silver
21.85+0.15(+0.68%)EUR/USD
1.0242+0.0045(+0.44%)10-Yr Bond
3.82900.0000(0.00%)- 23.53-2.56(-9.81%)
GBP/USD
1.1724+0.0022(+0.19%)USD/JPY
141.3390-0.3810(-0.27%)BTC-USD
17,358.26+785.63(+4.74%)CMC Crypto 200
406.77+25.48(+6.68%)FTSE 100
7,392.22+16.88(+0.23%)Nikkei 225
28,263.57+817.47(+2.98%)
Alibaba, JD.com expect consumer slowdown ahead of China’s Singles’ Day sales on Friday
Chinese e-tailers Alibaba and JD.com are in focus as the companies brace for China's Singles Day online event.
-
Alibaba, JD.com expect consumer slowdown ahead of China’s Singles’ Day sales on Friday
-
Musk communicates to Twitter employees that ‘bankruptcy is not out of the question’
-
Toy Hall of Fame: Which play things of yesterday made it in this year
-
Stocks moving in after hours: Poshmark, Compass, Doximity
-
Market rally may be ‘the signal the market has been waiting for’ on slowing Fed rates: Author
-
D.C. attorney general sues Washington Commanders owners, NFL over misconduct allegations
-
IMAX CEO: Final weeks of 2022 will ‘demonstrate’ return of moviegoers to theaters
-
‘Black Panther: Wakanda Forever’ expected to gross as high as $250 million domestically this week
-
Globalstar is prioritizing customer ‘desires’ for two-way connectivity: CEO
-
Companies are now re-evaluating crypto services ‘outside regulatory environments’: Former FDIC CIO
-
Laid-off Meta employees tell Yahoo Finance they felt blindsided by restructuring
-
Investors won’t need ‘to be overweight in technology in the new bull market’: Strategist
-
Tesla bulls cut price target on EV developers, automaker cancels solar projects across U.S.
Alibaba, JD.com expect consumer slowdown ahead of China’s Singles’ Day sales on Friday
Chinese e-tailers Alibaba and JD.com are in focus as the companies brace for China's Singles Day online event.
Video Transcript
[AUDIO LOGO]
RACHELLE AKUFFO: All right. Thanks, Seana. Well, my stock to watch for tomorrow is Alibaba. Now, November 11 marks Singles Day in China, all the ones-- 11/11. Now, the world's largest shopping day of the year, but it's expected to actually slow down from last year's $130 billion in sales.
Now, a survey from Bain Company shows roughly a third of Chinese shoppers plan to spend less this year, which could be a warning for investors, even if China does loosen up its zero-COVID policies. And, of course, we've all seen the mixed reports coming from China, whether that's even possible. But Baba shares riding higher today amid the broader market rally, so enjoying some gains there to the tune of more than 7.5%.
Associated PressChina's muted Singles' Day shopping fest expects slow growth
China’s biggest online shopping festival, known as Singles’ Day, is typically an extravagant affair as Chinese e-commerce firms like Alibaba and JD.com ramp up marketing campaigns and engage top livestreamers to hawk everything from lipstick to furniture as they race to break sales records of previous years. This year, however, the shopping festival is a much quieter event, with sales numbers expected to grow more slowly as consumers tighten their wallets amid an uncertain economy and the ongoing impact of COVID-19. Singles’ Day — also known as Double 11 as it falls on Nov. 11 annually — is typically closely watched as a barometer of consumption in China, as consumers collectively spend billions on online shopping platforms and merchants offer attractive discounts and promotions.
4h ago
Barrons.comChina’s Biggest Shopping Event Is Friday. Why the Stakes Are High.
China’s consumers may not be feeling as flush during the country’s biggest shopping event this week, amid a broader economic malaise and the constant threat of getting stuck in yet another Covid-19 lockdown. The shopping event, known as Singles Day, takes place Friday, with e-commerce giants like Alibaba Group Holding (ticker: BABA) and JD.com (JD) holding massive sales events that sometimes spill into multiple days. Singles Day, which was born out of an anti-Valentines Day effort, racked up more than $130 billion in sales last year, far outpacing Black Friday in the U.S. and making it the world’s largest shopping event.
11h ago
Barrons.comAlibaba’s Big Sale Is on Track to Set a Record. Why the Stock Still Could Fall.
Singles Day matters, but it is far from the biggest factor influencing Alibaba stock. Can the Chinese e-commerce giant beat out history?
12h ago
Investor's Business DailyTesla Stock Vs. BYD Stock: Is Elon Musk's 'Twitter Circus' Hurting The Tesla Brand?
Tesla is near a two-year low as a long-time bull warned Elon Musk's "Twitter circus" is hurting the EV maker's brand.
10h ago
China's Singles Day shopping spree enters final stretch
China's Singles Day shopping bonanza entered its final stretch Friday, with all eyes on whether sales can top a record one trillion yuan ($140 billion) despite the country's struggling economy.
2h ago
NextSharkAsian Americans get big midterm wins but still underrepresented in politics
Asian Americans have made great strides throughout the country once again during this year’s midterm election season. Entrepreneur Shri Thanedar (D) won 71% of the votes and became the first Indian American representative in Michigan. Aruna Miller (D) likewise became the first Indian American to win the race for lieutenant governor in Maryland.
1d ago
Kansas City StarCouple celebrating their anniversary find ‘iced tea-color gem’ — a 1.90-carat diamond
The couple named the diamond “HIMO,” the initials of their children.
18h ago
The Wall Street JournalThe Other Shoe Drops at Nike and Adidas
Kyrie Irving and Kanye West presented similar crises for the sneaker giants. Why were the companies’ responses so different?
22h ago
ZacksUnity Software Inc. (U) Reports Q3 Loss, Misses Revenue Estimates
Unity Software Inc. (U) delivered earnings and revenue surprises of 0% and 0.14%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
1d ago
The Wall Street JournalElon Musk Raises Specter of Twitter Bankruptcy Amid Executive Turmoil
Twitter suffered additional senior executive departures as owner Elon Musk said bankruptcy is a possibility for the company.
4h ago
Barrons.comMusk Sold Tesla Stock to Save Twitter, Report Says. That’s a Bad Sign.
Twitter is becoming a nightmare for Tesla shareholders. Elon Musk said during a Twitter staff meeting that he is selling Tesla (ticker: TSLA) stock to “save” Twitter, according to a report Thursday from the New York Times Musk also warned employees in an email that Twitter’s losses could be measured in the billions. Twitter and Tesla didn’t immediately respond to a request for comment about the report.
9h ago
We Tried Out Mastodon, an Alternative to Twitter. Should You?
More than half a million users have signed up for the microblogging site Mastodon since Twitter was purchased by Elon Musk. But what is it like to use the site? And could it be a real alternative to Twitter? WSJ Senior Personal Tech Columnist Joanna Stern joins host Zoe Thomas to discuss how to sign up for and use Mastodon. Photo: Andre M. Chang/Zuma Press
8h ago
Yahoo Finance VideoLaid-off Meta employees tell Yahoo Finance they felt blindsided by restructuring
Yahoo Finance reporter Allie Garfinkle spoke with several laid-off Meta employees, who share how surprised they were by the company's massive layoffs.
11h ago
ZacksShould Investors Buy the Recent Dip in Tesla (TSLA) Stock?
With TSLA 52% from its highs, investors may be contemplating adding Tesla shares to their portfolio. Let's take a look at the company's outlook and valuation to see if it is indeed a good time to buy TSLA.
8h ago
Fortune‘I’m sorry, I f****d up.’ Sam Bankman-Fried needs $4 billion. Fast
Bankman-Fried apologized to investors and said he would be “incredibly, unbelievably grateful” if they could help out.
19h ago
Yahoo Finance VideoTesla bulls cut price target on EV developers, automaker cancels solar projects across U.S.
Autos correspondent Pras Subramanian breaks down Wedbush analyst Dan Ives' decision to cut his price target on Tesla, as the EV developer reportedly cancels solar projects across the United States.
11h ago
Yahoo Finance UKGlobal stock markets surge as US inflation drops to 7.7%
Inflation eased last month to 7.7%, the lowest since January 2022.
23h ago
Investor's Business DailyDow Jones Soars 1,200 Points On Inflation Report: Why The Market Rally Has Room To Run
The major indexes soared on the October inflation report. Here's why the market rally may have room to run.
5h ago
TipRanksThese 2 ‘Strong Buy’ Energy Stocks Have Crushed the Market in 2022 — And They Can Go Even Higher
The energy sector has been riding high this year, with the S&P 500 Energy index up a whopping 65%. So the question for investors is, does the sector have more room to run? According to Wall Street pros, the answer to that is ‘yes.’ Selling an absolutely necessary product, energy companies are widely seen as hedges against inflation, frequently offering a combination of corporate profits and shareholder dividends. In the US, the price of crude oil has risen 15% so far this year, and the governmen
5h ago
TheStreet.comBulls in Control of Nvidia Stock. Here's How High It Could Rally
Nvidia stock is bursting higher on Thursday and hitting its highest level since August. Here's how to trade it from here.
12h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK