LME Halts Trading in Nickel as Price Tears $100,000 Level per Ton
(FT) The London Metal Exchange banned trading in nickel contracts on Tuesday as prices rose past $100,000 per ton. The price rally follows moves by the market to cover short…
Tesla’s China-Made Vehicle Sales Plummets to 56,515 in February
(Reuters) Tesla’s sales of China-made electric vehicles totaled 56,515 units in February, a decline from 59,845 units in January. Tesla sales in February included 33,315 that were exported. The falls…
GDP and Employment Expansion Slows in the Euro Area and EU in Q4 2021
(Eurostat) The gross domestic product increased by 0.3% in the euro area in the fourth quarter of 2021 from the previous quarter. The gain was lower than an increase of…
US Manufactured Goods Orders Accelerates by 1.4% In January
(Census Bureau) The US recorded $544.2 new orders for manufactured goods in January, up by 1.4% or $7.6 billion from December. The manufactured goods orders have now increased in the…
Kroger Jumps 10% as Sales Hit $33 Billion in Q4 2021, Upgrades Guidance
(Kroger) Kroger Co. stock rose more than 10% on Thursday after reporting sales of $33.0 billion in the fourth quarter of 2021, up from $30.7 billion in the prior year. …
US Services Business Activity Rises Sharply as PMI Hits 56.5 in February
(IHS Markit) The US Services PMI was registered at 56.5 in February, an increase from 51.3 in January amid strong demand conditions. The expansion in service business activity reflected a…
US Jobless Claims Decline by 18,000 to a Below-Estimate Level
(Department of Labor) US jobless claims were posted at 215,000 in the week to February 26, down by 18,000 from the previous week. The claims were below estimates of 225,000.…
Euro Area, EU Unemployment Edges Lower in January
(Eurostat) The euro area unemployment rate was 6.8% in January, declining from 7.0% in the previous month, and 8.3% in the comparable month of 2021. In the EU, unemployment was…
China’s Service Business Activity Grows at the Weakest in 6 Months in February
(HIS Markit) China’s Business Activity Index was recorded at 50.2 in February, a decline from 51.4 in January, marking the softest expansion since September. The slowdown in the service activity…
Tencent Seeks Regulatory Stamp from Beijing for Its Virtual Concerts in Metaverse
(Cointelegraph) Tech giant Tencent has filed for a patent with the Chinese National Intellectual Property Administration to launch virtual concerts in the metaverse. The patent filing by Tencent comes amid…
Snowflake Tanks Despite Robust Q2 2022 Earnings as Growth Outlook Fails to Excite
(Snowflake) Snowflake stock fell more than 22% on Thursday despite reporting a 101% jump in the fourth quarter of 2022 revenue which hit $383.8 million. The company reported product revenue…
US Crude Stockpiles Plunged by 2.6M Barrels Last Week
(EIA) US inventories of commercial crude oil were 413.4 million barrels in the week that ended February 25, down by 2.6 million barrels from the previous week. Inventories of motor…
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