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On March 26, CStone Pharmaceuticals-B (02616.HK) announced in Hong Kong that its revenue for fiscal year 2024 decreased by RMB 138 million, or 33.8%, to RMB 270 million for fiscal year 2025, from RMB 407 million. The net loss for the year increased by RMB 346 million from RMB 91.2 million in fiscal year 2024 to RMB 437 million in fiscal year 2025, primarily due to a decrease in gross profit and an increase in R&D expenses. Excluding a one-off negative impact of RMB 147 million related to channel compensation and inventory write-downs in preparation for the inclusion of prallatinib in the National Reimbursement Drug List, the net loss was RMB 290 million.March 26 – The number of Americans filing for unemployment benefits rose slightly last week, indicating a stable labor market and giving the Federal Reserve room to keep interest rates unchanged while closely monitoring inflation risks related to the Middle East conflict. The Labor Department said Thursday that initial jobless claims rose by 5,000 to a seasonally adjusted 210,000 in the week ending March 21. Initial jobless claims have remained between 201,000 and 230,000 this year, influenced by relatively few layoffs. Economists said that continued uncertainty stemming from Trumps aggressive import tariffs has led to a decline in demand for labor. Private sector nonfarm payrolls increased by an average of only 18,000 per month in the three months ending in February. They also noted that the Trump administrations hardline immigration policies have reduced the labor supply, also impacting job growth. This has led to what Federal Reserve Chairman Powell called a "zero-job growth equilibrium" this month, but this situation "has downside risks."S&P: Models show European insurance companies are well-capitalized.As of 8:30 PM Beijing time, WTI crude oil futures rose 4.15%, while U.S. natural gas futures fell 0.48%.The number of Americans filing for initial jobless claims for the week ending March 21 was 210,000, in line with expectations and the previous weeks figure of 205,000.

Forming Potentially Bearish Reversal Top

Cory Russell

Jul 25, 2022 15:22

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Late in the trading day on Friday, September E-mini Dow Jones Industrial Average futures are trading lower after giving up previous gains. The blue chip Dow had a sharp decline as the S&P 500 Index and NASDAQ Composite Index experienced a sharp decline as technology equities fell as a result of disappointing earnings results from Snap and Twitter.


September E-mini Dow Jones Industrial Average futures are trading at 31772, down 235 points or 0.73 percent, as of 17:53 GMT. From an intraday high of 32193, this is now lower. The SPDR Dow Jones Industrial Average ETF (DIA) is down $1.33 or 0.41 percent, trading at $319.08 today.


In stock-related news, shares of Intel Corp. and Verizon Communications are both down close to 3.5 percent. Apple is down over 1.0 percent, while Microsoft is down more than 1.5 percent.


Procter & Gamble and American Express are the only companies outperforming the market, both up by about 2.0%.

Economic Information Influences Attitude

Following the publication of additional discouraging economic statistics, doubts about the status of the American economy as well as concerns about profits affected confidence.


The U.S. PMI Composite output index, which analyzes activity in both the manufacturing and service sectors, recorded a preliminary value of 47.5, which indicates declining economic production. The index has not been at that level for more than two years.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward, but the price action in the late session indicates that momentum may be changing to the negative.


A transaction through 32193 will indicate that the uptrend has resumed. If 30109 is crossed, the primary trend will shift to being downward.


Smaller trend is similarly upward. The minor trend will turn downward if there is a trade through 31504. The downward momentum will change as a result.

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