Alibaba announced early yesterday that it would invest $200 million in private photo messaging firm Snapchat. Estimates have the infusion of Alibaba Group Holding Ltd (NYSE: BABA) capital boosting the overall valuation of Snapchat to $15 billion.
Stock market news today, March 12, 2015: Good morning! U.S. stock futures forecasted a 27-point decrease from yesterday's close. The DJIA dropped 27 points Wednesday, a day after markets saw their broadest sell-off in two months over concerns of a pending interest-rate hike.
Today, the markets will react to weekly unemployment claims and a monthly update on retail sales. Two events could drive the DJIA up or down: crude oil prices, and the Fed's expectations for when it might raise interest rates.