Ford Signs Five-Year Deal to Bolster E-commerce
Irish-American online payment processor Stripe, has added Ford to its customers list, with the American carmaker signing a five-year deal with the goal of strengthening Ford’s e-commerce strategy and long-term outlook. Ford aims to use Stripe’s technology to process digital payments across Europe and North America.
Stripe, which is set for an initial public offering in 2022, is attracting investors from all corners of the world, currently valued at $95 billion as of April of 2021.
MACROECONOMIC DATA ANALYSIS
Recent data revealed that Japan’s imports & export figures in December hit record highs since January of 1979, when comparable data was accessible. The 7,881.4 ($69 billion) figure was driven by rising inflation in the Asian nation, according to data of Japan’s Ministry of Finance. Exports escalated 17.5% year-over-year in December, and imports rocketed 41.1% compared to the same time in 2021.
U.S. President Joe Biden stated that it’s suitable for America’s central bank to modify the support it provides to its economy, amid quickly escalating prices and economic strength. As quoted by Biden, “Given the strength of our economy and recent price increases, it's appropriate, as ... Fed Chairman Powell has indicated, to recalibrate the support that is now necessary”.
CURRENCIES
The U.S. dollar remained solid in early Thursday trading sessions, but its rally has cooled down amid stabilizing U.S. Treasury yields. Despite rising inflationary pressures and a global energy crunch, the dollar index which compares the USD to a basket of six other currencies, inched 0.01% lower to 95.510.
GOLD
Gold futures trade higher as investors & traders remain wary before the next policy decision of the U.S. Federal Reserve, which is due to occur on the 26th of January. Other nations will also set policy decisions in the same week, including Norway, Turkey and Ukraine. Despite a solid dollar greenback, which typically weighs down on gold, the precious metal edged 0.05% higher to $1,839 per ounce.
OIL
Crude oil prices trade lower on Thursday’s early trading sessions, cooling off from 7-year highs, slashing a little increment from previous gains, but remain steady amidst strong demand and global supply disruptions arising from geopolitical issues. Brent futures declined 1.00% to $87.56 a barrel, and WTI futures edged 0.61% lower in a choppy trading session to $85.28 a barrel.
INDICES
USA: S&P500 -0.97%, Dow Jones Industrial Average -0.96%, Nasdaq Composite -1.07%
Europe: FTSE 100 -0.20%, DAX -0.18%, CAC 40 -0.65%
Asia: Nikkei 225 +1.11%, Hang Seng +3.42%, CSI 300 +0.90%, Nifty 50 -1.08%
Newest
Shares of social media stocks, including Meta & Twitter plunged, the Snapchat stock collapsed by more than 40% on Tuesday’s trading session. The Snapchat parent of the popular social media platform has warned that it expects to miss profit & revenue estimates due to macroeconomic deterioration.
As a result, the company's market capitalization has plummeted to $20.92 billion, almost three-fold away from its highest levels of the year; nearly $82 billion in early February. The Snapchat stock (NYSE: SNAP) fell sharply from $22.49 to $12.79 on Tuesday, down from its debut price of $17 in 2017.
Samsung Electronics announced shall invest 450 trillion won ($356 billion) over the next five years to bolster growth in semiconductors, biopharmaceuticals, and other next-generation technologies.
Samsung stated on Tuesday that the investments will aid the firm in achieving long-term growth in pivotal spectrums like the chip industry, while also promising aggressive expenditures in the biopharmaceutical industry to make it as successful as its chip segment.