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Stock market today, September 2, 2014: U.S. markets closed on Friday in the black. The S&P 500 sustained its gains last week, finishing the day above the vaunted 2,000 level. With U.S. markets closed on Monday in observance of Labor Day, investors will look forward to a heavy week of economic data, including the all-important August jobs report.
On the global front, geopolitical problems continue to evolve in Ukraine as Russian troops entered through the eastern border last week. New reports have placed Kazakhstan on high alert of future Russian pressure, heightening tensions between the Kremlin and the West. On Monday, investors placed a greater emphasis on actions of the European Central Bank (ECB) and whether Mario Draghi and his cohorts will begin an unprecedented stimulus program to stave off threats of regional deflation. Asian stocks dipped while the Euro fell to a near 12-month low.
Here's what you should know to make your Tuesday profitable:
- The IPO of the Year: The Wall Street Journal reports that the initial public offering process of the Alibaba Group Holding Ltd. (NYSE: BABA) could launch as soon as next week. The newspaper reports that public trading on the New York Stock Exchange could begin by Sept. 18 or 19. The Chinese e-commerce company is likely to carry a market cap as high as $130 billion. Shares of Yahoo! Inc. (Nasdaq: YHOO), which owns a 24% share in the company, are up 0.8% this morning as the IPO approaches.
- NFC Growth: Reuters reports that tech giant Apple Inc. (Nasdaq: AAPL) will be partnering with several major credit-card processors to enable the iPhone as a primary source of payment for users. It has been a long path for near-field communications, but the iPhone 6 is gearing up to be an important tool for retail purchases and banking. The report indicates that Apple will partner with American Express Co. (NYSE: AXP), MasterCard Inc. (NYSE: MA), and Visa Inc. (NYSE: V).
- The Electric Boom: Shares of electric car manufacturer Telsa Motors Inc. (Nasdaq: TSLA) hit a new intraday high last week on news the company has forged an agreement to build 400 charging stations in China. The company is working with China United Network to build the stations in 120 Chinese cities at the outlets of China Telecom. The news is a boost for the market, where concerns over a lack of charging stations has affected the company's sales forecasts in the nation.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.