Stocks Drop From Record Highs; Yields Edge Higher: Markets Wrap
Bloomberg 5 days ago Vildana Hajric and Claire Ballentine
(Bloomberg) U.S. stocks slipped from record highs while investors weighed the start of corporate earnings season and an influx of bond supply that loom as speedbumps to a roaring rally.
Intel Corp. led tech shares lower after Nvidia Corp. said it’s offering the company’s first server microprocessors, extending a push into Intel’s most lucrative market. The S&P 500 dipped into negative territory in the wake of a third straight week of gains for the benchmark index. In Europe, the Stoxx Europe 600 Index weakened.
Asia off to cautious start ahead of earnings, U S data - Netscape Money & Business
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Global Markets: Stocks slip off record highs ahead of earnings, U S data
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BEIJING (Reuters) - China has imposed a sweeping restructuring on Jack Ma’s Ant Group, the fintech group whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing’s determination to rein in its internet giants.
FILE PHOTO: A thermal imaging camera is seen in front of a logo of Ant Group at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song/File Photo
The overhaul, which has been in the works for several months, includes Ant turning into a financial holding firm, a move expected to curb its profitability and valuation.