Wealthy Chinese keep spending while others cut back: McKinsey survey

Pictured here is a sci-fi themed installation at Maison Hermes in Shanghai, China on Nov. 28, 2022. Future publication | Future publication | Getty Images BEIJING – Wealthier Chinese have been more inclined to spend this year, while poorer people have cut spending even more, according to McKinsey and Company in a survey released Thursday. … Read more

Hong Kong shares soar nearly 3% after reports say the city is considering easing Covid rules

Hong Kong considers abandoning outdoor mask rules: report Fitch expects house prices in Australia and China to decline in 2023 Fitch Ratings expects house prices in Australia to see a significant decline of between 7% and 10% next year, it said in its latest forecast report. The agency also expects home prices in China to … Read more

Hong Kong shares soared 2% after local media reported the city is considering abandoning the outdoor mask rule

Hong Kong considers abandoning outdoor mask rules: report Fitch expects house prices in Australia and China to decline in 2023 Fitch Ratings expects house prices in Australia to see a significant decline of between 7% and 10% next year, it said in its latest forecast report. The agency also expects home prices in China to … Read more

5 things to know before the Stock Exchange opens on Wednesday 7 December

Traders on the floor of the NYSE Source: NYSE Here are the most important pieces of news investors need to start their trading day: 1. Can stocks get over the hump? US stock markets entered a deep funk on Wednesday. After Monday’s big losses, shares plunged again on Tuesday: The Nasdaq lost 2%, the S&P … Read more

Activist investor calls on BlackRock CEO Fink to step down over ESG ‘hypocrisy’

Larry Fink, President and CEO of BlackRock arrives at the DealBook Summit in New York City on November 30, 2022. David Dee Delgado | Reuters LONDON — Black rock CEO Larry Fink is facing calls to step down from activist investor Bluebell Capital over the company’s alleged “hypocrisy” over its environmental, social and governance (ESG) … Read more

Asian markets are in mixed trading on fears of recession; China to report trade data

TSMC shares jump after Apple says it will use US-made chips from the Taiwanese firm China expects a further decline in exports and imports China’s trade data for November is expected to show further declines in both exports and imports, according to a Reuters poll of economists. Median forecasts call for exports to fall 3.5% … Read more

Jim Cramer’s top 10 things to watch in the market on Monday: stocks, China, Apple

My top 10 things to watch on Monday, December 5, 2022 1. Morgan Stanley’s Mike Wilson says he’s seen enough of the rally and says it’s time to bail out. There is less than 2% upside at the high end of its year-end S&P 500 price target of 4,000 to 4,150. Stick with defensive stocks … Read more

Tim Draper predicts bitcoin will hit $250,000 despite FTX crash

Tim Draper, founder of Draper Associates, on stage at the Web Summit 2022 technology conference. Ben McShane | Sports file via Getty Images Venture capitalist Tim Draper thinks bitcoins it will hit $250,000 a coin by mid-2023, even after a bruising year for the cryptocurrency marred by industry failures and falling prices. Draper had previously … Read more

Cramer on hot industrial stocks and how we’re playing the tech pivot

The market is so possessed by technology that it cannot see the forest through the industrialists. If the talk isn’t about slowing down the cloud, it’s about who is retiring from the now-private Twitter or how disappointing it is that co-CEO Bret Taylor has left Salesforce (CRM). Meta Platforms’ (META) Mark Zuckerberg could sneeze and … Read more

The difference between this comeback and the last failed bear market bounce

A 17% surge in the S&P 500 from a new bear market low in a market drenched in stagflation panic? Been there. Such a rally rushing to the index’s 200-day average along with falling bond yields, the volatility index dipping below 20 and hoping the Federal Reserve will ease its tightening soon? Done. All of … Read more