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Economic Updates

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Economic Updates

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Why is Bitcoin’s price falling and what is the aftermath?

Bitcoin, like many investment products, will be affected by decisions made by the U.S. Federal Reserve and their outlook on the U.S. economy. There is currently a negative settlement on Bitcoin after the U.S. Federal Reserve actions have allowed for more aggressive withdrawal of liquidity. They have also mentioned that they will protect assets i...

January 31, 2022
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Firebrick Pharma debuts on ASX

An Australian pharmaceutical firm that's developing a world first virus-killing nasal spray has made its debut on the ASX. It was founded in 2012 by Dr Peter Molloy and Dr Stephan Goodall with the mission to develop a nasal spray that killed all germs (viruses or bacteria) such as the common cold. It plans to bring its latest breakthrough ...

January 28, 2022
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Apple reaches a new record and beats expectations

Apple Inc. (AAPL) reported its fiscal 2022 first quarter ended December 25, 2021 after the market close on Wall Street on Thursday. The company beat both revenue and earnings per share estimates, sending the stock higher in the after-hours trading. Apple reported total revenue of $123.945 billion (an all-time revenue record and up 11% year-ov...

January 28, 2022
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Oil hits $90 per barrel due to political tensions

Oil has reached $90 per barrel on Wednesday, which is the first time since 2014. On Wednesday, it was up 2% and the rise comes due to increasing concerns of a shortage in the coming months due to rising political tensions between Russia and Ukraine and the Middle East. During lockdowns, the demand for oil fell significantly and was trading b...

January 28, 2022
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What is an NFT?

A Non-Fungible Token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger.[1] Types of NFT data units may be associated with digital files such as photos, videos, and audio. Because each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin. NFT ledgers claim to ...

January 28, 2022
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Wells Fargo tops expectations for Q4

Wells Fargo & Co. (WFC) reported its latest financial results for the previous quarter before the opening bell on Friday. The company beat both revenue and earnings per share expectations. Total revenue at $20.856 billion in Q4 of 2021 vs. $18.791 billion expected. Earnings per share at $1.38 per share vs. $1.11 a share expected. Company ...

January 17, 2022
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JPMorgan Q4 results are in

The world’s largest financial services company, JPMorgan Chase & Co. (JPM) reported its 2021 Q4 financial results before the opening bell on Wall Street on Friday. The company reported total revenue of $29.257 billion in the fourth quarter of 2021, missing analyst forecast of $29.782 billion. Earnings per share reported at $3.33 a share, a...

January 17, 2022
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Citigroup reports Q4 results

Citigroup Inc. (C) reported its 2021 Q4 earnings before the opening bell on Friday. The world’s 15th largest financial services company topped Wall Street analyst expectations. The company reported total revenue of $17 billion in Q4 vs. analyst forecast of $16.84 billion. Earnings per share reported at $1.46 per share vs. forecast of $1.39 per...

January 17, 2022
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Nike latest numbers are in

Nike Inc. (NKE) reported its fiscal 2022 financial results for its second quarter ended November 30, 2021. Let’s take a closer look at the numbers. The US sporting goods company reported revenue of $11.36 billion in the quarter (up by 1% from the same period last year) vs. $11.25 billion expected. Earnings per share was at $0.83 a share (up...

December 21, 2021
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Up next: the Bank of Canada rate decision

One of the must-watch economic events this week will be the Bank of Canada interest rate decision. The rate decision is due to be announced at 15:00 pm London time on Wednesday. Why is the announcement important? A bank interest rate is a rate at which a country’s central bank lends money to local banks. The interest rate is charged by the ...

December 8, 2021
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Zoom beats estimates

Zoom Video Communications Inc. (ZM) reported its latest financial results after the closing bell on Monday. The US based company, which offers a cloud-based video conferencing service topped analyst expectations for the third fiscal quarter ended October 31, 2021. Total revenue reported at $1.051 billion (up 35% year-over-year) in the quarter...

November 24, 2021
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JD.com Q3 numbers exceed expectations

JD.com Inc. (JD) announced its third-quarter earnings numbers on Thursday, beating analyst estimates. The Chinese e-commerce company reported revenue of $33.91 billion in the third-quarter (up by 25.5% from the same period last year) vs. forecast of $33.345 billion. Earnings per share at $0.49 a share vs. $0.31 a share expected. Lei Xu, Pr...

November 19, 2021
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Macy’s blows past Wall Street expectations in Q3

Macy’s Inc. (M) posted its third-quarter results on Thursday. The US retailer which consist of three retails brands – Macy’s, Bloomingdale’s and Bluemercury posted better than expected results in previous quarter, sending the stock price higher. The company reported revenue of $5.44 billion in Q3 vs. $5.199 billion expected. Earnings ...

November 19, 2021
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Alibaba financial numbers fall short of expectations

Alibaba Group Holding Ltd. (BABA) reported its latest financial results for the quarter ended September 30, 2021 before the market open on Thursday. The Chinese e-commerce giant posted disappointing results, falling short of analyst expectations. The company reported revenue of $31.123 billion (up by 29% year-over-year) vs. $31.658 billion expec...

November 19, 2021
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NVIDIA beats expectations in Q3

NVIDIA Corp. (NVDA) reported its third-quarter financial results after the closing bell on Wednesday. The US technology company beat Wall Street expectations on both revenue and earnings per share. NVIDIA reported a record revenue of $7.103 billion in the third-quarter (up by 50% year-over-year and 9% up from the previous quarter) vs. $6.821 ...

November 19, 2021
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