Reddit Eyes Public Markets as It Files IPO With the SEC
(FT) Reddit, an online forum that gained prominence in the wake of retail trading frenzy has said it confidentially filed with the Securities and Exchange Commission to go public. Reddit,…
Lira Breaks Above 15 per Dollar Level as Investors Project Further Rate Cut
(Bloomberg) The Turkish lira fell up to 3.1% against the dollar on Thursday, breaching the psychological barrier of 15 as sentiment was dampened by projected further rate reduction by the…
Eurozone Growth Slumps to a 9-Month Low in Dec. on Fresh Covid-19 Jitters
(IHS Markit) The Eurozone Composite Output Index fell to a nine-month low of 53.4 in December, suggesting slowed activity in the economy. Renewed Covid-19 infections saw the service sector slow…
Fed Turns More Hawkish With Three Rake Hikes in 2022, Quick Tapers
(Federal Reserve) US Federal Reserve says it will raise interest rates three times in 2022 in an aggressive policy move aiming to tame rising inflation. The US central bank also…
US Crude Inventories Decline by 4.6 Barrels as Imports, Refinery Inputs Fall
(EIA) Commercial crude oil inventories in the US were at 428.3 million barrels in the week that ended December 10, a decline of 4.6 million barrels from the previous week.…
Home Builder Confidence Surges for the Fourth Straight Month in December
(NAHB) US builder sentiment rose one point, the fourth straight month of index gain to 84 in December amid cost increases. The gauge on current sales conditions improved by one…
Lowe Issues Lower Guidance Outlook in 2022 as Pandemic-Led Boom Wanes
(Lowe) Shares of Lowe fell 3.7% in premarket on Wednesday before recovering after guiding sales of $94 billion to $97 billion in FY22, which missed the expected $97.62 billion. The…
US Retail Sales Jump by 0.3% In November but Miss Estimates
(Census Bureau) The volume of retail and food services sales in the US reached $639.8 billion in November, up 0.3% from the previous month. The gain was below the expected…
SMIC and China’s Pharmaceutical Firms Plummet on Blacklist Concerns by the US
(FT) Shares of the Semiconductor Manufacturing International Corp fell 6.4% on Wednesday on reports that the US was targeting about eight Chinese companies on a black list on Thursday. World’s…
Binance Seeks to Broaden Blockchain in Indonesia Through a JV Led by MDI Ventures
(Cointelegraph) Binance is partnering with a consortium led by PT Telkom Indonesia’s venture capital arm MDI Ventures for new digital asset exchange. Binance CEO Changpeng Zhao says the partnership for…
China’s Factory Output Beats Estimates in Nov., but Headwinds Dampen Retail Growth
(NBS) China posted a 3.8% improvement in factory output in November from last year, a higher growth compared to the expected rise of 3.6% and October’s 3.5% gain. Persistent headwinds,…
UK Annual Inflation Jumps 5.1% in November Despite Falls in Producer Prices
(ONS) Consumer prices in the United Kingdom increased by 5.1% in the year to November 2021, surpassing 4.1% posted the previous month. Including owner occupiers’ housing costs, consumer prices increased…
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