The US Adds 390,000 Jobs in May, More Than Estimates
(Bureau of Labor Statistics) US nonfarm payroll employment increased by 390,000 in May, surpassing estimates of a gain of 328,000. A majority of job gains were in leisure and hospitality,…
Eurozone’s Growth Weakens in May Amid Geopolitics and Capacity Pressure
(S&P Global) Growth within the eurozone weakened in May, as the Composite Output Index edged to a four-month low of 54.8, compared to 55.8 in April. The service sector was…
Japan Passes Law Requiring Stablecoins Be Linked to Yen or Another Legal Tender
(Bloomberg) Japan has passed a law that requires stablecoins to be linked to the yen or another legal tender in the wake of the collapsed TerraUSD token. The new law…
Euro Area and EU Posts a 1.3% Decline in Retail Sales in April 2022
(Eurostat) Retail sales in the euro area and EU declined by 1.3% in April, compared to increases of 0.3% and 0.6%, respectively, in March. In the euro area, retail trade…
Offshore Investors Snap $4.2B of Beaten Down Chinese Stocks as Optimism Grows
(FT) International investors using Hong Kong’s Stock connect trading scheme have accumulated RMB28 billion or $4.2 billion of mainland Chinese stocks over the past week. The addition of Chinese equities…
Okta Issues Guidance as Q1 2023 Revenue Increase by 65%, Stock Jumps
(Okta) Shares of Okta Inc. rose more than 15% in premarket on Friday after reporting a revenue of $415 million in the first quarter of 2023. The revenue was an…
StoneCo Jumps 22% as Q1 2022 Revenue Jumps 138.6%
(StoneCo) Shares of StoneCo Ltd rose more than 22% in premarket on Friday after posting revenue of R$2.07 billion, an increase of 138.6% from the prior year. In the quarter,…
Lululemon Provides a Robust Guidance After Q1 2022 Revenue Grows by 32%
(Lululemon) Lululemon netted a revenue of $1.6 billion in the first quarter of 2022, representing an increase of 32% from the last year. Revenue grew by 32% in North America…
US Borrowing Costs Are Slowing Down Again as Mortgage Rates Hit 5.09%
(Bloomberg) Mortgage rates fell for the third straight week to hit 5.09% in further promising signs of a cooling market. The rate, which reflected costs on the 30-year loan in…
Orders for Manufactured Goods in the US Rises by a Slower 0.3% in April
(Census Bureau) New orders for manufactured goods in the US rose by 0.3% or $1.8 billion to $533.2 billion in April, slower compared to a jump of 1.8% in March.…
US Private Jobs Rise by 128,000 in May as Small Businesses Record Outflows
(ADP National Employment) A total of 128,000 jobs were generated in the US private sector from April to May. A bulk of payrolls in the private sector came from large…
OPEC+ Could Reportedly Hike Its Planned Oil Output by 50%
(Bloomberg) A panel of ministers of the oil cartel OPEC+ has reportedly recommended adding 648,000 barrels a day of oil in the market in July and August. The intended boost…
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