China rate cut, Alibaba shuffle, aircraft manufacturers

Commodities Week Ahead: Oil, Gold Edgy, Awaiting Powell Testimony

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📚 Daily Digest  |  Tuesday, Jun 20, 2023     China rate cut, Alibaba shuffle, aircraft manufacturers - what's moving markets   © Reuters. China's central bank has trimmed its benchmark lending rates in an attempt to stimulate its flagging economy, while e-commerce giant Alibaba sees a major shakeup at the board level. Wall Street is expected to return from the long weekend in a cautious mood. Read More     Today's Top News Stock Markets Alibaba CEO and Chairman Zhang to step down to focus on cloud business Alibaba Group on Tuesday said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. Economy China cuts lending benchmarks to revive slowing demand China cut its key lending benchmarks on Tuesday, the first such reductions in 10 months as authorities seek to shore up a slowing economic recovery, although concerns about the property market meant the easing was not as large as expected. Stock Market Airbus wins record 500-plane order from India's IndiGo Europe's Airbus secured a historic deal on Monday involving the most jets ever bought by a single airline, with an order for 500 narrowbody jets from Indian budget carrier IndiGo on the opening day of the Paris Airshow. Commodities Oil mixed on China rates cut, growth outlook Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected while demand was seen rising this year, clouding the outlook for the world's largest crude importer. Stock Market 5 big analyst picks: Baidu upgraded to Overweight, Philip Morris rated as a Buy Here is your Pro Recap of the biggest analyst picks you may have missed today: upgrades at Baidu, Philip Morris, EPR Properties, US Foods, and Studio City International. Read More News » Today's Top Analysis     Jun 20, 2023 by Barani Krishnan Commodities Week Ahead: Oil, Gold Edgy, Awaiting Powell Testimony   by Barani Krishnan  |   Jun 20, 2023   Jun 20, 2023 by Ruholamin Haqshanas Warren Buffett Adds to Japanese Holdings Amid Booming Stock Market   by Ruholamin Haqshanas  |   Jun 20, 2023   Jun 20, 2023 by Adem Tumerkan Shrinking Credit, Dwindling Deposits, and Greater Fragility Ahead for Banks   by Adem Tumerkan  |   Jun 20, 2023   Jun 20, 2023 by Dr. Arnout ter Schure Bitcoin: Five Waves Up - Going Higher?   by Dr. Arnout ter Schure  |   Jun 20, 2023 Read More Analysis »

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