Alibaba Beats Expectations

Alibaba, China’s top e-commerce firm, beats analysts’ expectations of a 56 percent rise in its first-quarter earnings. The company’s stock surged by over 81 percent, lifted by steady increases in revenue and growth in online sales. Alibaba’s revenue rose to $7.51 billion for the fiscal quarter ended June 30 as its core e-commerce business made up 86 percent of total revenue. Shares of China’s largest e-commerce firms, including Alibaba.com and JD.com Inc, have excelled in 2017, uplifted by positive revenue growth around June sales.

source:Business Insider, Investing.com

Walmart also beats earnings estimates as online growth purchases grow to 60 percent, the firm posted earnings per share of $1.08, compared with a forecast of $1.07 per share. Revenue of the retail giant is now at $123.36 billion, topping economists’ expectations of $122.84 billion. Same-store sales climbed by 1.7 percent, in line with Wall Street expectations. Meanwhile, Canada releases its Core Consumer Price Index for the month of July at 12:30 GMT today, this could affect purchasing trends and inflation of the Canadian economy.

Facebook and Google activate safety features after a van crashed into a crowd, killing thirteen people. The “Safety Check Feature” lets users in the vicinity of the crash inform their Facebook friends they are safe and they can also connect with nearby support. Google’s “SOS alert features” provides people up-to-date news and information for those searching for “Barcelona attack.” Police stated the attackers were wearing explosive belts and they were linked to the first attack held earlier in Barcelona.

Technical Analysis

EUR/USD

EUR/USD

Events released on the market yesterday dragged the currency pair downwards on the foreign exchange market. It started losing momentary as from the 1.17792 level around 05:00 UTC in its early trade to reach the 1.16976 by 10:00 UTC. In today’s session, however, it started rising slowly as from 00:00 UTC and it could maintain this trend in the upcoming hours. Investors can consider trading this asset with the Long Term tool today.

GBP/USD

GBP/USD

Since the beginning of this week, the GBP/USD pair traded on a bearish note throughout, thus dropping value on the forex market. In Thursday’s session, it tumbled as from 14:00 UTC as it traded at $1.28920, dragged by several pullbacks to reach $1.28664 by 20:00 UTC. Today, the asset opened on a positive note at 00:00 UTC, pulled by momentary jumps till 04:00 UTC at the 1.28925 level. It could pick up more heights gradually through today.

JPN225

JPN225

The Japanese Nikkei 225 was quoted at its highest level for yesterday at 19714 points around 04:00 UTC, but it started dropping gradually on the market. Asian equities were pressured in Friday after Wall Street closed down on concerns over the Trump administration’s to follow through an economic policy. The index is seen moving towards a downtrend, following the bearish trend set on Thursday.

Things to watch on the market

Tip 1

Stocks of Alibaba is available with the TradeReplica, it is a good opportunity to trade in its shares as the company beats estimates.

 

Tip 2

Investors can consider trading on shares of Walmart and assets such as the USD/CAD, GBP/CAD and EUR/CAD with the Classic Binary Options.

 

Tip 3

Facebook never fails to impress and keeps innovating in terms of apps and features, it is highly recommended to trade on shares of the social media giant.