On Friday, Shares of JD.Com Inc (ADR) (NASDAQ:JD), gained 3.44% to $27.10. JD.com, Inc. (JD), Chinas largest online direct sales company, and Tencent Holdings Limited (Tencent) (SEHK:00700), a leading provider of Internet services in China, […] Fundamental Euro Forecast: BearishEUR/USD continues to trade in a narrow range but as fears grow of a second wave The pandemic has ‘rewritten the rulebook’ as pent-up demand boosts the market, says Rightmove
On Friday, Shares of JD.Com Inc (ADR) (NASDAQ:JD), gained 3.44% to $27.10.
JD.com, Inc. (JD), Chinas largest online direct sales company, and Tencent Holdings Limited (Tencent) (SEHK:00700), a leading provider of Internet services in China, jointly declared an expanded partnership to provide merchants with innovative mobile marketing solutions ahead of this year’s Singles Day promotion.
The expanded mobile marketing partnership will explore new avenues to leverage Tencent’s leading social communication platforms, Weixin and Mobile QQ, and use its massive big-data resources alongside JD.com’s leading e-commerce platform and its vast wealth of data about online shopping trends and behavior. The partnershipwill offer businesses advanced online tools to more precisely reach their target customer groups, build brand recognition and improvement marketing ROI by providing brands access to Weixin and Mobile QQ users.
“JD.com’s groundbreaking partnership with Ten cent already has redefined the mobile e-commerce user experience in China over the last year and a half, and in the months ahead we look forward to transforming mobile marketing as well,” said Richard Liu, founder and CEO of JD.com. “Through this expanded partnership, Chinese businesses will have access to digital marketing tools that leverage both JD.com’s resources and Tencent’s leading mobile social communication platforms to build relationships with customers, deepen brand recognition and drive sales. We are extremely encouraged by the enthusiastic initial merchant response, and we look forward to assisting brands leverage this expanded suite of tools during Singles Day and beyond.”
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the Peoples Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
Shares of CBS Corporation (NYSE:CBS), inclined 2.94% to $44.48, during its last trading session.
CBS Corporation, has the market capitalization of $21.61B while 485.80M shares were outstanding. Beta factor, which is used to measure risk associated with the stock, was 1.90. Return on equity was booked as 41.40% while return on assets was 11.70%. The stock’s institutional ownership stands at 86.50%.
CBS Corporation operates as a mass media company worldwide. It operates through four segments: Entertainment, Cable Networks, Publishing, and Local Broadcasting. The Entertainment segment distributes a plan of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and distributes programming, counting series, specials, news, and public affairs; operates online content networks for information and entertainment; and produces, acquires, and distributes theatrical motion pictures.
Finally, Shares of AES Corp (NYSE:AES), ended its last trade with 0.09% gain, and closed at $11.05.
AES Corp, institutional ownership was 96.90%. The stock has the market capitalization of $ 7.55B while it’s 682.82M shares were outstanding. The price to sale ratio was 0.46. Net profit margin of the company was 5.50% while operating profit margin as 16.80%. Stock volatility for the month was 2.65% while for the week was 2.68%.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
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Author: About Travis Garlick
Outlook for EUR/USD Increasingly Bearish
EUR/USD continues to trade sideways but a breakout is looking increasingly possible as traders weigh up fears of a second wave of coronavirus infections against an easing of restrictions in many countries that could allow a return of normal economic activity.
For a while now, an increase in Covid-19 concerns has prompted a flow of money into safe havens like the US Dollar from currencies seen as inherently riskier, such as the Euro. Any ramping up of pessimism about an economic revival would therefore likely see EUR/USD break to the downside.
Chart by IG (You can click on it for a larger image)
The weakness of the Eurozone economy was highlighted Friday by news that the German economy is now in recession, contracting by 2.2% quarter/quarter in the second quarter of the year after a 0.1% decline in the first. Note though that the German figures were better than those for the Eurozone as a whole, which contracted by 3.8% – implying very steep downturns in countries like France, Italy and Spain.
As for the third quarter, that is likely to be even worse given that lockdowns continued in to April and early May.
Moreover, post-Brexit trade talks between the UK and the EU continue to make little progress. That will likely hit the British Pound harder than the Euro but is still another negative factor for EUR/USD.
Want to know why GDP data are deemed highly significant in the FX market? Check out our guide here.
Turning to the economic data in the week ahead, Tuesday brings the ZEW indicator of German economic sentiment in May and another poor figure is expected. Similarly, purchasing managers’ indexes for France, Germany and the Eurozone in May, due Friday, are expected to continue to show the weakness that was evident in April.
Housing market has busiest month in more than 10 years
The housing market has had its busiest month in more than 10 years in July, with the traditional summer lull replaced by a flurry of activity from buyers and sellers, according to the property website Rightmove.
The site, which typically lists about 95% of homes for sale in the UK, said the “rulebook has been rewritten”, with the boom fuelled by pent-up demand during lockdown accelerating as the summer has progressed.
It said the number of monthly sales agreed in Britain had been the highest since it started tracking the figure a decade ago, up by 38% on the same period last year and worth a combined total of more than £37bn.
Would-be sellers were also active, with more properties coming on to the market than in any month since 2008.
Asking prices have fallen by an average of 0.2% across mainland Britain, but this has been driven by a 2% drop in London, where the number of homes coming on to the market is up by 69% year-on-year. In seven regions, asking prices hit record highs as sellers sought to make the most of the demand.
The housing market was closed in lockdown and reopened in mid-May, sparking a flurry of activity. July brought a stamp duty holiday on homes costing up to £500,000 in England and £250,000 in Wales and Scotland, which further fuelled activity.
Last week figures from the UK’s largest estate agency firm, Countrywide, showed that demand for homes costing between £500,000 and £750,000 had soared since the tax break was announced, and Rightmove’s figures suggest a similar effect for other agents.
The number of sales agreed for large homes was up by 59% annually, while for first-time properties the rise was 29% and on homes with three or four bedrooms, excluding four-bed detached properties, it was 38%.
Miles Shipside, a Rightmove director, said: “There have been many changes as a result of the unprecedented pandemic, and these include a rewriting of the previously predictable seasonal rulebook for housing market activity and prices.”
He added: “Rather than just a release of existing pent-up demand due to the suspension of the housing market during lockdown, there’s an added layer of additional demand due to people’s changed housing priorities after the experience of lockdown.”
The demand for homes has put pressure on lenders and conveyancing which, under social distancing rules, are often operating below their usual capacity.
Shipside said: “Patience will be required, especially with some lenders limiting their product ranges due to capacity constraints in their ability to process mortgages.”
At the end of last month Nationwide building society warned of a “false dawn” in the housing market after reporting a price jump in July.
It said that as the furlough scheme unwinds there could be more job losses, which would dampen activity again.
Author: Hilary Osborne