Stock futures rise slightly after the S&P 500 registers third straight losing day: Live updates – CNBC

7 hours ago

Fitch downgrades Tencent and Alibaba ratings from ‘stable’ to ‘negative’

rating agency Fitch put into perspective The long-term default ratings of Chinese tech giants Alibaba and Tencent have been changed from “stable” to “negative.”

The agency said the move is consistent with a similar downward revision to China’s outlook on April 9. Fitch also downgraded China’s outlook from “stable” to “negative,” but reaffirmed its rating at “A+.”

Fitch believes this means that “these companies are primarily domestic operations, and the level of government regulation, oversight, and intervention in the sector means that the underlying credit quality of these companies should exceed that of the sovereign.” “This reflects our view that this is not the case.”

However, the long-term default ratings of both companies’ senior debt were left unchanged at “A+.”

Alibaba stock fell 1.31% and Tencent stock fell 0.53%.

9 hours ago

Japan’s exports increased more than expected in March

Export from Japan In March, prices rose 7.3% compared to the same month last year, slowing down from February’s 7.8% rise.

However, the figure was higher than the 7% increase expected by economists polled by Reuters.

Imports into the country fell 4.9% year-on-year, reversing the 0.5% increase in February.

As a result, Japan’s trade surplus increased to 366.5 billion yen ($2.37 billion), compared to Reuters’ forecast of 299.9 billion yen.

— Lim Huijie

9 hours ago

Japan’s business confidence darkens in April: Reuters Tankan Index

According to a Reuters Tankan survey conducted in April, Japan’s business confidence had darkened among large companies as the weaker yen weighed on household budgets.

The manufacturing sentiment index was +9, down from +10 the previous month. A positive number means that the number of optimists exceeds the number of pessimists and vice versa.

According to Reuters, the services sector index fell to +25 from +32 in the previous month, despite a slight increase in retail trade.

The monthly Reuters Tankan Index is widely considered a leading indicator of the Bank of Japan’s quarterly Tankan survey.

— Lim Huijie

11 hours ago

Interactive Brokers’ Thomas Peterffy says the rise in margin loans is a warning sign for the market.

Thomas Peterffy, founder and chairman of Interactive Brokers, said the recent increase in margin lending is a warning sign for the market.

The investor said Tuesday on CNBC’s “Closing Bell: Overtime” that compared to the same period last year, margin loans (a type of loan in which investors borrow against existing assets) rose 30% to $51.2 billion, an all-time high. He said that it became. .

“Credit lending continues to grow, but that’s not a bullish sign by any means,” Peterffy said. “This usually heralds a slowdown in the market, and that’s probably what’s going to happen.”

As an example, the investor pointed to the market crash two years ago, when credit loans rose again to all-time highs just before the crash.

However, Peterffy said he expects the market to rise in the long term as inflation and interest rates remain high.

— Lisa Kailai Han

11 hours ago

Stocks move big after the bell: United Airlines, Autodesk, JB Hunt Transport Services

Below are the stocks with the most price movements in after-hours trading.

  • United Airlines — Aircraft carrier shares rose nearly 6% after first-quarter results beat analysts’ expectations on strong travel demand. United Airlines added that it expects second-quarter earnings per share to be between $3.75 and $4.25, beating analysts’ expectations of $3.76. American Airlines stock also traded up 1.5%.
  • Autodesk — Software stock fell 2.4%. Autodesk is Further delaying annual 10-K filings Due to an ongoing internal investigation by the Audit Committee of the Company’s Board of Directors.
  • JB Hunt Transport Services — Shares fell more than 5% after the transportation and logistics business posted lower-than-expected revenue and revenue last quarter. Earnings came to $1.22 per share, lower than analysts’ expectations of $1.52. JB Hunt’s sales of $2.94 billion also fell short of analysts’ expectations of $3.12 billion.

— Lisa Kailai Han

11 hours ago

Stock futures start rising

Stock futures rose on Tuesday night.

Futures tracking the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index were all up nearly 0.2% after 6 p.m. ET.

— Lisa Kailai Han