Rising Tensions: Markets opened lower Tuesday morning, amid rising tensions between the United States and China. House Speaker Nancy Pelosi is set to visit Tawain Tuesday night, in a move that has upset Chinese officials.
Chinese stocks like Alibaba Group Holding BABA and JD.com Inc JD are trading flat, while the S&P 500 is only down less than a percent. Unless U.S. and Chinese officials are able to smooth over the Pelosi trip, look for more increased risk in Chinese names as investors weigh a potential conflict arising between the two world powers.
Earnings Season Continues: Pinterest Inc PINS a popular social media platform, reported earnings yesterday, and the stock is trading higher by nearly 20% this morning.
The company missed on financials but had some impressive user growth numbers. Elliott Management, an activist investment firm, is an investor in Pinterest, spurring potential buyout rumors.
Uber, the popular ride-sharing company, reported better-than-expected financial numbers, $29.1 billion in gross sales vs the $28.8 billion estimates. The stock is trading up by more than 10%, despite the fact that the company still reported a loss of $2.6 billion.
After the market closes today, investors will be watching earnings reports from companies like Advanced Micro Devices Inc AMD, Starbucks Corporation SBUX, PayPal Holdings Inc PYPL, Electronic Arts Inc EA, SoFi Technologies Inc SOFI and more.
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