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Stock Futures Mixed in Asia With S&P 500 at Record: Markets Wrap

(Bloomberg) — Stocks in Asia looked set for a mixed start as investors parsed the latest developments in the trade conflict and kept an eye on Alibaba’s Singles’ Day for a gauge of consumer health in China.Equity futures rose in Japan and Australia, while contracts dipped in Hong Kong. The S&P 500 eked out another record high on Friday, as Treasuries continued to sink — the 10-year yield ended the week at 1.94%. The U.S. Veterans Day on Monday means no Treasuries trading. U.S. President Donald Trump said trade talks with China are moving along “very nicely” and that Beijing …read more […]

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Alibaba Singles’ Day Hit $858 Million Sales in First Minute

(Bloomberg) — Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza got off to a strong start, logging 61 billion yuan ($8.7 billion) of purchases within the first 20 minutes.An estimated half-billion shoppers from China to Russia and Argentina are expected to swarm the e-commerce giant’s sites to scoop up everything from iPhones and refrigerators to cashew nuts. The company again hosted a televised entertainment revue in Shanghai to run alongside the bargain-hunting, this time enlisting Taylor Swift and Asian pop icon G.E.M. to try and pump up sales.The world’s largest shopping event has become an annual ritual for Asia’s largest …read more […]