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CNBC Daily Open: Alibaba shares jump and Amazon beats Walmart in quarterly revenue
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Alibaba Soars, Amazon Tops Walmart: Retail and Tech Giants Face Off
Alibaba shares open at three year-high as quarterly revenue rebounds
Alibaba's shares opened 10% higher in Hong Kong on Friday to reach their highest level in more than three years, after it reported third-quarter revenues just above analysts' estimates and said it plans to invest more in e-commerce and AI.
The online used-car seller posted better-than-expected adjusted earnings, but revenue per vehicle fell last quarter. Shares dropped 9% ahead of the open. ↘️ [Palantir (PLTR)](
Holiday shortens this week's earnings reports. U.S. housing data is to be released this week, with housing starts on Wed., and existing home sales on Friday.
Dow, S&P 500, and Nasdaq futures are edging up in premarket trading Friday as the stock market reacts to Walmart's earnings and U.S. President Donald Trump's stance on Ukraine and Russia.
Wall Street eased from record highs after Walmart forecasted slower sales, and saw its stock drop. The outlook raised concerns about consumer spending and economic growth, while investors also assessed signals from the Federal Reserve and trade policy uncertainties.
U.S. stock and bond markets will be closed on Monday for Presidents Day. Then, earnings from Occidental Petroleum, Analog Devices, Alibaba, Booking, Newmont, and Walmart.
U.S. stock futures point lower, Walmart stock sinks on soft outlook, and Alibaba shares jump as results beats expectations. Here's what investors need to know today.
Stock and bond markets are closed Monday for Presidents Day, but the week ahead is packed with earnings from major companies, Federal Reserve meeting minutes, and key economic data. Walmart (WMT), Alibaba (BABA),
Chinese technology shares led gains in Asian stocks after Alibaba Group Holding Ltd. announced its fastest pace of revenue growth in more than a year, boosting optimism toward the sector.
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