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JPMorgan Chase: Raised JD.coms (JD.O) target price from $46 to $48.New York silver futures fell more than 1.00% during the day and are now trading at $32.77 an ounce.May 14th news: Recently, during the Dubai Fintech Summit 2025, Chen Yishi, head of international business at Ant Financial, revealed in his speech that Ant Financials enterprise-level AI products are being exported to overseas markets to serve the digitalization and intelligent upgrade of overseas market customers. It is understood that this is also the first time that Ant Financial has demonstrated its full-stack AI product matrix in overseas markets.On May 14, it was reported that Hang Seng Bank has laid off employees in various departments since March, including the logistics support department, strategy and corporate development department, information technology department, corporate communications department, Hang Seng Index Company, etc. It is reported that the layoffs are expected to be completed by the end of June, with layoffs of about 10% to 20% in the departments involved, and about half of the employees in some departments. In response to media inquiries, a spokesperson for Hang Seng Bank said that in order to cope with the ever-changing market environment and the increasingly diversified needs of customers, the bank reviews its business portfolio and operations from time to time, and will make appropriate adjustments, including optimizing or innovating new functions, adjusting business structures, and improving employee skills, so as to better provide customers with quality services.On May 14, UBS published a report stating that Samsonite (01910.HK)s first-quarter profit margin was lower than expected, with adjusted EBITDA of US$128 million, 16% lower than the banks expectations, mainly due to lower-than-expected profit margins. The bank slightly raised its revenue forecast for Samsonite by 1% to reflect the better-than-expected guidance for North American sales trends in the second quarter; but lowered its adjusted EBITDA profit margin forecast by about 110 basis points, as operating deleveraging in the first quarter was more significant than originally expected. The bank accordingly lowered its per-share forecasts for 2025 to 2027 by 8%, 2% and 2% respectively. However, due to the reduction in the weighted average cost of funds forecast from 9.9% to 9.5%, the target price rose by 9% from HK$15 to HK$16.3, with a "neutral" rating, as the current price already reflects low earnings visibility. The report added that its strong free cash flow generation may pave the way for a new round of share repurchases, which the bank believes can support valuations.

Fed Dovishness And Chinese Optimism May Boost Gold And Copper Prices in 2022

Skylar Williams

Nov 30, 2022 11:58

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Gold and copper prices were restrained on Wednesday in anticipation of a speech by Federal Reserve Chair Jerome Powell, but were headed for their largest monthly increase of the year due to hints that future U.S. interest rate hikes are likely to be halted.


Powell is expected to provide additional information on the U.S. economy and monetary policy direction for the remainder of the year when he speaks at a Washington event later in the day. In addition, investors anticipate vital job data from the United States later this week.


According to the minutes of the Federal Reserve's November meeting, a growing percentage of Fed members prefer slower rate hikes in the coming months. Fed speakers have cautioned, however, that sustained inflation is likely to keep U.S. interest rates elevated far into 2024.


The possibility of a smaller rate hike in December gave non-yielding assets such as gold, which had been rising for a month, some solace.


The spot price of gold stayed unchanged at $1,748.99 per ounce, while the futures price decreased 0.1% to $1,747.30 per ounce. On Tuesday, the value of both assets grew by around 1%, and it was anticipated that they would increase by nearly 7% in November - their largest monthly gain since May 2021.


In spite of this, the outlook for gold remains low, given U.S. inflation is well beyond the Fed's annual target. In reaction to prolonged inflation, the central bank may tighten monetary policy to cut prices, a scenario that is bad for gold.


Rising interest rates increased the opportunity cost of holding non-yielding assets, resulting in a precipitous decrease in gold's price in 2018.


Copper prices fell slightly among industrial metals on Wednesday, but remained headed for their best month of 2022.


Copper futures fell 0.1% to $3.6405 a pound, following an increase of 0.7% in the previous session. However, it was anticipated that they would climb by almost 8% in November, their best month since the beginning of 2021.


Copper prices were mostly supported by speculations of loosening COVID-related restrictions in China, the largest copper importer in the world.


The world's top copper importer is facing increasing public ire for its response to the COVID-19 outbreak, prompting rumors that the government could be compelled to suspend restrictive measures.


Despite the fact that China is facing a daily spike in COVID-19 infections that is unprecedented, Beijing has given no such signal as of yet. This has resulted in the reintroduction of tight movement restrictions in several major cities over the past two months, which has had a significant impact on the Chinese economy.

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