Stock futures about flat after 400-point rally in Dow

Stock futures about flat after 400-point rally in Dow
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European markets push higher; Big Bank of England growth expected

European stocks were slightly higher on Thursday, building on gains in the previous session.

Pan-European Stoxx 600 Up 0.3% in early trade. Retail stocks were the standout performers, gaining 2.5%, while telecom fell 0.4%.

of the United Kingdom FTSE Markets were muted on Thursday morning ahead of the rally Bank of EnglandIts next monetary policy decision. Central banks are widely expected Increase in interest rates by 50 basis pointsIts biggest single increase since 1995.

-Elliot Smith

Alibaba’s Hong Kong shares advanced 4% on earnings

alibaba Financials are set to report first-quarter earnings before the market opens and analysts expect the Chinese e-commerce giant to Posting its first revenue decline on record.

Alibaba is projected to post revenue of 203.19 billion yuan ($30 billion) for the June quarter, down 1.2% from a year ago, according to Refinitiv’s consensus forecast.

Alibaba has faced several headaches, from a tight regulatory environment in China to a resurgence of Covid in the world’s second-largest economy that led to lockdowns in major cities. These factors have hit the Chinese economy, reducing ad budgets and consumer spending, which will likely impact Alibaba’s June quarter results.

Still, analysts expect the company to return to growth in the next quarter. Alibaba’s Hong Kong-listed shares were up 4% on earnings.

— Arjun Kharpal

Jim Cramer says the charts point to a rally in gold

CNBC’s Jim Cramer said Now is the perfect time to buy gold According to analysis by commodities trader Larry Williams, the signs are pointing to a rally.

the “hard earned money“The host explained Williams’ analysis by looking at gold’s weekly action since 2014 and data from the Commodity Futures Trading Commission’s Commitments of Traders report on small speculators’ positions in gold.

According to Williams, gold prices typically peak when small speculators are very bullish on the precious metal and bottom when small speculators are very bearish.

“The charts, as interpreted by the legendary Larry Williams, suggest the general public is giving up on gold, and he thinks that makes it the perfect entry time to do some buying,” Cramer said.

— Abigail Ng, Crystal Hurr

Here’s how to invest for yield to beat a bad year for stocks and bonds — according to the pros

Stocks are volatile, and bonds haven’t been doing well this year, with US investment grade bonds down in 2022.

But analysts have been bullish on income investing recently as yields have started to rise again.

Here are some ways that professionals suggest that investors can diversify their portfolios to protect against market volatility as well as higher yields as inflation rises. Pro subscribers can read the story here.

— Wizen Tan

Fortinet share failed

Shares of Fortinet fell more than 9% in extended trading after the cybersecurity firm reported its quarterly results, which included $283.5 million in free cash flow, compared with FactSet’s estimate of $337.2 million. Services revenue also missed estimates.

Other cybersecurity stocks also fell after hours. CrowdStrike fell 1% and Palo Alto Networks lost more than 1%.

– Tanaya fish

The layoffs come nearly a week after Walmart’s profit warning

There’s Walmart Corporates begin laying off workers The retail giant is about a week later cut its profit outlook And inflation has warned of a pullback in consumer discretionary spending. In a statement to CNBC, the company described the layoffs as a way to “better position the company for a strong future.” Shares inched lower by less than 1% after hours.

– Tanaya fish

Lucid shares fell about 12%

Electric luxury vehicle maker shares Lucid Group The company later fell 11.7% in extended trading Cut its full-year production target 6,000 for the second time. The original forecast was 20,000. The company also reported a quarterly loss of 33 cents per share.

– Tanaya fish

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