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Stock market today: Dow Jones, S&P 500 Edge Higher; Alibaba Sourcing on Ant Group Approval | New




Stock Market Today Mid-Morning Updates

Friday, the Dow Jones Industrial Average is up 120 points after almost an entire week of heavy selling. Notably, the Dow Jones fell below 30,000 for the first time since January 2021 yesterday. Markets rallied in relief on Wednesday after the Federal Reserve announced its biggest rate hike since 1994, but those gains were are reversed very quickly on Thursday. The Fed also said it was focused on getting inflation back to 2%.

Shares of Modern (NASDAQ: ARNM) and Pfizer (NYSE: PFE) are in the spotlight today after receiving US Food and Drug Administration (FDA) approval for their coronavirus injections for children as young as 6 months old. This would make almost every person in the United States now eligible for vaccination. It comes after its committee of independent vaccine experts voted unanimously to recommend the shots after evaluating the safety and effectiveness of the two vaccines. Shares of Adobe (NASDAQ: ADBE) are lower today after issuing weaker than expected financial guidance for the current quarter and year.

Among the Dow Jones leaders, stocks of Apple (NASDAQ: AAPL) are up 1.28% today while Microsoft (NASDAQ: MSFT) is also down 0.90%. Meanwhile, disney (NYSE: DIS) and Nike (NYSE: NO) are trading higher on Friday. Among the financial leaders of the Dow, Visa (NYSE:V) is down 0.69% while JPMorgan Chase (New York Stock Exchange: JPM) is up 0.27%

EV Leader Shares You’re here (NASDAQ: TSLA) are up 2.52% on Friday. Rival electric vehicle companies like Rivian (NASDAQ: RIVN) are down 0.57%. Lucid Group (NASDAQ: LCID) is up 3.99% today. Chinese electric vehicle leaders like Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) are also trading higher today.

Dow Jones Today: US Treasury Yields Fall From Decade High; Ukraine moves closer to EU membership

Following the stock Exchange at Friday’s open, the S&P 500, Dow and Nasdaq are trading higher at 0.56%, 0.19% and 1.22% respectively. Among listed index funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) is up 1.00% while SPDR S&P 500 ETF (NYSEARC: SPY) is also up 0.55%.

The benchmark 10-year US Treasury yield fell to 3.2% after hitting highs not seen since 2011. Investors are more worried now that the Fed has fallen behind in its policy of reducing runaway inflation . In fact, he could drag the economy into a recession with his current rate hike plans.

The European Commission has proposed that Ukraine become a candidate for membership to join the bloc. This would normally be the first step on a long road to EU membership. Commission President Ursula von der Leyen said Ukraine should be welcome in Europe. It also comes as some of the EU’s most powerful leaders visited Ukraine’s capital, Kyiv, in a show of solidarity with the beleaguered country.

[Read More] Top Stock Market News For Today June 17, 2022

Alibaba shares rise following reports of Ant Group’s request for financial participation from China’s central bank

Ali Baba (NYSE: BABA) seems to be causing a stir at the opening bell today. Obviously, BABA stock is currently gaining over 2% now. All in all, the company probably has a regulatory nod from China’s central bank to thank for this news. Going into detail, the financial arm of Alibaba Ant Group receives approval from China’s central bank for its application to set up a financial holding company. This information is courtesy of sources from a Reuters report.

On the one hand, Ant Group has worked and is still working with Chinese financial regulators to obtain its license. Notably, it would be a significant change in tone from November 2020. That’s when Chinese regulators essentially halted Ants’ $37 billion IPO following issues with the founder. Jack Ma.

Overall, this endorsement by the People’s Bank of China would further indicate that China is easing its regulatory crackdown on tech companies. Following this latest update, Alibaba alongside peers such as (NASDAQ: J.D.) and Baidu (NASDAQ: START) would have everything to gain. As such, it wouldn’t surprise me to see tech investors tuning into this section of the stock market today.

BABA Action
Source: Trading View

[Read More] 5 Dividend Stocks to Watch in a Bear Market

Roku and Walmart team up for a one-of-a-kind e-commerce advertising experience

Video streaming company shares Year (NASDAQ: YEAR) also focus on the stock market today. This is likely due in large part to the announcement of his latest partnership with walmart (NYSE: WMT). Namely, the duo is now collaborating on a one-of-a-kind digital advertising solution. This solution basically allows Roku viewers to instantly purchase Walmart items through advertisements that are on the platform. In detail, Roku achieves this through OneView, its TV streaming ad buying platform. The company explains that this new method of marketing evolves shopping beyond the QR code and will change the way customers interact and purchase TV and video content.

In a larger scheme, using OneView to market items in an almost instantly accessible way would be Roku’s strategic play. Thanks to its seamless checkout experience, it would. William White, Marketing Director of Walmart, explains the key logic of this team. He declares, Were working to connect with customers where they were already spending time, reducing the distance between discovery and inspiration and purchase. On top of that, says White, No one has cracked the code for buying videos. By working with Roku, we were the first retailers to bring customers a new shopping experience and seamless checkout on the biggest screen of their TV.

Overall, using OneView in this innovative way would highlight Roku among its ad rivals. As more organizations search for better ways to market digitally to consumers, this could be a win for Roku.

Stock YEAR
Source: Trading View

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