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Snap Inc's revenue and performance indicators in the third quarter are expected to plummet by 25% in after-hours trading.
Snap Inc announced the company's third-quarter results after trading on Thursday, and its revenue and performance guidelines fell short of market expectations. According to the financial report, Snap Inc's adjusted earnings per share in the third quarter were 17 cents per share, with market expectations of 0.08 dollars; revenue of 1.07 billion dollars and market expectations of 1.1 billion dollars. The company said that the number of global daily active users in the third quarter was 306 million, and the market expected 302.1 million; revenue in the fourth quarter is expected to be $1.17 billion-1.21 billion, and the market is expected to be $1.35 billion. Snap Inc's advertising business was affected by the privacy changes introduced by Apple Inc earlier this year.
Powell: inflation may be higher and more persistent than expected
Federal Reserve Chairman Colin Powell said at a news conference after the interest rate resolution on Wednesday that policy will continue to provide strong support for the economy. Inflation is likely to remain high in the coming months before easing. Powell said that economic indicators continue to strengthen, corporate investment is growing steadily, but the outlook is still risky. The pace of improvement in the labour market is uneven and the economic recovery is incomplete, but the factors affecting job growth should weaken in the coming months, he said. On inflation, Powell said that the increase in inflation partly reflects the base effect. Short-term supply constraints limit jobs in some industries
BlackRock CEO warns that inflation could have a "big impact"
Larry Fink, chief executive of BlackRock, said investors may have underestimated the possibility of soaring inflation. "most people don't have more than 40 years of career, they only see the decline in inflation over the past 30 years," Fink said at a virtual event hosted by Deutsche Bank on Wednesday. "so it's going to be a very big shock." Fears of rising inflation have infiltrated the US market as the cost of goods such as wood and steel has risen this year. Fink joined first Boston in 1976 and began his career at a time of high inflation. In March 1980, the US consumer price index rose by 14.8.
It may be time for the Fed Harker: to think about reducing the size.
Patrick Harker, president of the Philadelphia Fed, said, "it may be time to at least think about reducing our purchases of $120 billion a month in Treasuries and mortgage-backed securities." "however, this is not something we will do all of a sudden," Harker said in a speech prepared for the Women in Housing and Finance virtual event on Wednesday. "We need to follow the script after the Great Recession; that is, start slowly reducing bond purchases. As the economy continues to strengthen, we will carefully and methodically cancel policy easing. "as you wish.
AMC shares hit a record high in intraday trading, with a market capitalization of $33 billion surpassing that of GameStop.
AMC Entertainment surged 127% on Wednesday, the biggest gain since Jan. 27 and hit a record intraday level, with its market capitalization rising to about $33 billion, surpassing GameStop's market capitalization of about $20 billion.
How hot will inflation be? Traders added to their bets that the Fed was forced to raise interest rates in 2022
Interest rate traders are increasing their bets that the Fed could be forced to raise interest rates next year, well before policymakers hinted, as the surge in US consumer price data released on Wednesday intensified the debate about how hot inflation might be. Euro-dollar futures contracts currently digest the probability of raising interest rates by 25 basis points by the end of 2022 of more than 80%, up from 67% at the beginning of the week. This is a full year earlier than policy makers have hinted. At the same time, voices from William Dudley, the former president of the New York Fed, and others are getting louder and louder. He said that not only does the central bank need to raise interest rates, but it should also be much higher than the investment.
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