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China and Hong Kong Indexes Jumped 2%, China Evergrande Delisted After 16 Years

Li Chen
25 Aug, 2025
Hong Kong

Stock market indexes in China and Hong Kong jumped on Monday following the rising possibility of a U.S. rate cut.

The Hang Seng index soared 2.1%, and the mainland-focused CSI 300 index jumped 2% after U.S. Federal Reserve Chair Jerome Powell laid out a case for a possible rate cut as early as next month.

Fed Chair Powell cited shifts in risks between the softening labor market and inflationary forces after the sharp downward revision in nonfarm payrolls data for the months of May and June and weaker-than-expected job growth in July.

The possible cut in the U.S. rate is generally followed by a similar-sized rate cut in Hong Kong, as the central bank is mandated to keep the Hong Kong currency's peg to the U.S. dollar.

In mainland and Hong Kong trading, real estate developers, banks, and Internet-driven companies led the gains.

China Evergrande Group was delisted from the Hong Kong Stock Exchange on Monday after the once largest developer by sales in China racked up as much as $300 billion in debt.

The developer's stock has been suspended from Hong Kong trading since January 29, 2024, after the Hong Kong court ordered the liquidation of the firm.

China Indexes and Stocks

The Hang Seng index advanced 2.1% to 25,866.49, and the mainland-focused CSI 300 added 2% to 4,438.81.

Alibaba Group Holding adjusted 5.8% to HK $124.90, Meituan added 3.1% to HK $122.10, and JD.com Inc advanced 4.8% to HK $127.20.

BYD gained 1.8% to ¥106.80, Li Auto jumped 5.8% to HK $94.70, and Xpeng decreased 0.4% to $91.50.

Zijin Mining Group increased 56% to HK $24.24, CNOOC gained 2.6% to HK $18.84, and PetroChina Company inched up 0.3% to HK $7.53.

Caution Returned to Wall Street Amid AI Infrastructure Spending Growth Worry and Cloudy Outlook for Retailers

Barry Adams
22 Aug, 2025
New York City

Wall Street indexes struggled to advance on Friday, and investors reviewed the fresh batch of mixed earnings.

The S&P 500 index edged up 0.2%, and the tech-heavy Nasdaq Composite inched higher 0.1%, amid worries about the tariff-driven hit on corporate earnings.

For the week, the S&P 500 index is set to close down more than 2%, and the Nasdaq Composite is likely to ease around 1.4%.

Ross Stores reported mixed quarterly results and confirmed that the U.S. import duties are expected to lower its annual earnings per share by 5% from a year ago.

Earlier in the week, Walmart, Target, Home Depot, Lowe's, T.J. Maxx, and other leading companies indicated that the sharp jump in import duties is increasing the cost of goods.

Retailers have been able to avoid a sharp increase in prices because tariffs have been rolled out at a slower than expected pace, and large retailers stocked up on goods that could last for several months.

However, smaller and independent retailers have struggled to adjust to higher import duties amid capital constraints and lack of a diversified supply base.

For now, large retailers are absorbing higher import costs, but as tariffs increase on a wider range of products beginning this month, consumers are likely to see higher prices in the months ahead.

Fed Chair Jerome Powell is set to deliver his comments about the state of the U.S. economy at the annual symposium held in Jackson Hole, Wyoming.

Investors are looking for clues about rate paths, labor market conditions, and the possible longer-term impact of high import duties.

U.S. Stock Movers

Intuit Inc. declined 6.3% to $655.0, despite the company delivering better-than-expected results in its latest fiscal quarter.

Consolidated revenue inched higher to $3.8 billion from $3.2 billion, net income swung to a profit of $381 million from a loss of $20 million, and diluted income per share swung to a profit of $1.35 from a loss of 7 cents a year ago.

The company's outlook for the current quarter fell short of investor expectations.

Intuit provided GAAP guidance for the fiscal first-quarter revenue to be between $3.74 billion and $3.78 billion, operating income between $440 million and $460 million, and diluted earnings per share between $1.19 and $1.26.

Zoom Communications rose 4% to $76.10, and the video platform operator reported higher sales driven by a surge in demand from its enterprise customers.

Consolidated revenue in the second quarter ending in July edged higher to $1.22 billion from $1.16 billion, net income advanced to $471.3 million from $436.4 million, and diluted earnings per share rose to $1.16 from 70 cents a year ago.

Workday Inc. declined 4.5% to $217.13 after the company's forward-looking guidance disappointed investors.

Total revenue in the fiscal second quarter ending in July rose 12.6% to $2.4 billion, net income rose to $228 million from $132 million, and diluted earnings per share advanced to 84 cents from 49 cents a year ago.

The human resource software company guided fiscal third quarter revenue to increase 14% to $2.24 billion and adjusted operating margin to 28%, matching expectations laid by some analysts.

In addition, the company revised its full-year revenue outlook to $8.8 billion and adjusted operating margin of 29%.

Ross Stores advanced 3% to $145.62, despite the deep discount merchandiser reporting mixed results in the second quarter ending on August 2.

Revenue in the quarter increased to $5.5 billion from $5.3 billion, net income decreased to $508 million from $527.2 million, and diluted earnings per share declined to $1.56 from $1.59 a year ago.

The company guided full-year earnings per share to range between $6.08 and $6.21, compared to $6.32 a year ago.

The company anticipated a tariff-driven hit of between 22 cents and 25 cents per share in the fiscal year ending on January 31, 2026.

Zoom Communications Inc. jumped 5.7% to $77.35 after the communication platform operator reported an 8% rise in its earnings in the fiscal second quarter ending in July.

Consolidated revenue edged higher to $1.22 billion from $1.16 billion, net income advanced to $471.3 million from $436.4 million, and diluted earnings per share rose to $1.16 from 70 cents a year ago.

Zoom Communications guided third-quarter revenue to be between $1,210 million and $1,215 million, non-GAAP operating income between $465 million and $470 million, and non-GAAP earnings per share between $1.42 and $1.44.

Zoom Communications guided full-year revenue to be between $4.82 billion and $4.83 billion, non-GAAP operating income between $1.91 billion and $1.92 billion, and non-GAAP earnings per share between $5.81 and $5.84.

22 Aug, 2025

Intuit Inc. declined 5.6% to $659 despite the financial technology platform operator’s net income swinging to a profit in the fiscal fourth quarter.

Consolidated revenue inched higher to $3.8 billion from $3.2 billion, net income swung to a profit of $381 million from a loss of $20 million, and diluted income per share swung to a profit of $1.35 from a loss of 7 cents a year ago.

Intuit repurchased $2.8 billion of its stock during the fiscal year; additionally, the board approved a new $3.2 billion share repurchase authorization, increasing the company’s total authorized repurchases to $5.3 billion.

The company's board approved a quarterly dividend of $1.20 per share, payable on October 17 to shareholders on record on

As of July 31, the company reported a total cash and investments balance of approximately $4.6 billion and total debt of $6.0 billion.

Intuit provided GAAP guidance for the fiscal first-quarter revenue to be between $3.74 billion and $3.78 billion, operating income between $440 million and $460 million, and diluted earnings per share between $1.19 and $1.26.

Intuit provided non-GAAP guidance for the fiscal first-quarter revenue to be between $3.74 billion and $3.78 billion, operating income between $1.15 billion and $3.18 million, and diluted earnings per share between $3.05 and $3.12.

Intuit provided GAAP guidance for full-year revenue to be between $21 billion and $21.2 billion, operating income between $5.78 billion and $5.86 billion, and diluted earnings per share between $15.49 and $15.69.

The software and the lending company estimated non-GAAP full-year revenue to be between $21 billion and $21.2 billion, operating income between $8.61 billion and $8.69 billion, and diluted earnings per share to range between $22.98 and $23.18.

22 Aug, 2025

Walmart Inc. dropped 4.9% to $97.59 despite the retailer reporting a 52% increase in net income in the fiscal second quarter ending in July.

Consolidated revenue increased 4.8% to $177.4 billion from $169.3 billion, net income jumped 51.8% to $7.02 billion from $4.5 billion, and diluted earnings per share rose to 88 cents from 56 cents a year ago.

Walmart returned a total of $6.2 billion to shareholders through the repurchase of 67.4 million shares.

The general merchandise retailer guided fiscal third-quarter net sales to increase between 3.75% and 4.75%, operating income to rise between 3% and 6%, and adjusted earnings per share to range between $0.58 and $0.60.

The company guided full-year net sales to increase between 3.75% and 4.75%, operating income to rise between 3.5% and 5.5%, and adjusted earnings per share to range between $2.52 and $2.62.

The retail giant, which imports about one-third of its goods from overseas, said it is absorbing higher import duties for now, helping it to gain market share and increase sales.

Walmart U.S. sales, excluding fuel sales, rose 4.8% to $120.9 billion, driven by a rise of 4.6% in comparable same-store sales, a total transaction increase of 1.5%, and an advance of 3.1% in average ticket sales.

22 Aug, 2025

Target Corp. plunged 9.5% to $96.90 after the big-box retailer reported a decline in sales in the second quarter, and same-store sales and consumer transactions also declined.

Consolidated revenue in the fiscal second quarter ending on August 2 edged down 0.9% to $25.2 billion from $25.4 billion, net income plunged 22% to $935 million from $1.2 billion, and diluted earnings per share fell to $2.06 from $2.58 a year ago.

During the second quarter, Target increased dividends per share by 1.8% and paid $509 million to its shareholders.

Comparable sales declined 1.9% in the fiscal second quarter, driven by a 3.2% drop in comparable store sales, partially offset by a 4.3% increase in comparable digital sales.

For the fiscal year, the company retained its outlook of a single-digit decline in sales and earnings per share between $8.0 and $10.0.

The retailer estimated adjusted earnings per share, which excludes gains from litigation settlements in the first quarter, to fall between $7.0 and $9.0.

In addition, the company announced that the longtime CEO Brian Cornell would retire in February, and chief operating officer Michael Fiddelke, a two-decade veteran at the company, will assume the post on February 1.

21 Aug, 2025

Lowe's Companies Inc. rose 2.5% to $264.13, and the home improvement retailer reported a rise in net income in the second quarter.

Consolidated revenue inched higher to $24 billion from $23.6 billion, net income climbed to $2.40 billion from $2.38 billion, and diluted earnings per share soared to $4.28 from $4.18 a year ago.

During the quarter, the company invested $1.3 billion for the acquisition of Artisan Design Group and paid $645 million in dividends.

Lowe's estimated full-year total sales to be between $84.5 billion and $85.5 billion, comparable sales to increase by 1%, and diluted earnings per share to be between $12.10 and $12.35, with the effective tax rate to be approximately 24.5% and the operating margin to range between 12.1% and 12.2% a year earlier, respectively.

21 Aug, 2025

TJX Companies Inc. inched higher 2.2% to $139.24, and the off-price apparel and home fashion retailer reported a 9% increase in its earnings in the latest quarter.

Consolidated revenue in the fiscal second quarter ending on August 2 increased 4% to $14.4 billion from $13.5 billion, net income jumped to $1.2 billion from $1.1 billion, and diluted earnings per share rose to $1.10 from 96 paise a year ago.

Consolidated comparable same-store sales rose 4% from a year ago, surpassing the management's expectations.

Comparable store sales at the U.S. Marmaxx locations, which include Marshalls and TJ Maxx stores, rose 5% compared to 3%; Home Goods slowed to 2% from 5%; and in Canada eased to 2% from 9% a year ago, respectively.

During the second quarter, TJX returned a total of $1.0 billion to shareholders through share repurchases and dividends, including the repurchase of 4.1 million shares for $515 million, and paid $474 million in shareholder dividends.

During the first half of fiscal 2026, TJX returned a total of $2.0 billion to shareholders through share repurchases and dividends, including the repurchase of 9.2 million shares for $1.1 billion, and paid $894 million in shareholder dividends.

TJX guided fiscal third-quarter consolidated comparable sales to increase between 2% and 3%, with a pretax profit margin between 12.0% and 12.1%, and diluted earnings per share between $1.17 and $1.19 a quarter ago.

TJX guided full-year consolidated comparable sales to increase by 3%, with a pretax profit margin between 11.4% and 11.5%, and diluted earnings per share between $4.52 and $4.57 a year ago.

The company projects share repurchases between $2.0 and $2.5 billion during the fiscal year ending January 31, 2026.

21 Aug, 2025

Medtronic Plc. rose 0.2% to $90.04 after the medical device maker reported a marginal decline in profit in the fiscal first quarter ending on July 25.

Consolidated revenue in the quarter increased 8.4% to $8.6 billion from $7.9 billion, net income inched lower to $1.047 billion from $1.049 billion, and diluted earnings per share edged higher to 81 cents from 80 cents a year ago.

The company guided full-year revenue to rise between 6.5% and 6.8% and non-GAAP earnings per share to rise approximately 4.5% and range between $5.60 and $5.66.

20 Aug, 2025

Toll Brothers Inc. declined 1.7% to $130, and the expensive home builder reported a decline in profit in the fiscal third quarter ending in July.

Consolidated revenue in the quarter increased to $2.95 billion from $2.72 billion, net income declined to $369.6 million from $374.6 million, and diluted earnings per share edged higher to $3.73 from $3.60 a year ago.

On July 25, the company paid a quarterly dividend of $0.25 per share to shareholders on record on July 11.

During the fiscal third quarter, Toll Brothers returned a total of $226 million to shareholders through share repurchases and dividends, including the repurchase of 1.8 million shares at an average price of $112.40 per share.

For the fiscal fourth quarter, Toll Brothers expects the average delivered price per home to be between $0.97 million and $0.98 million, the adjusted home sales gross margin to be 27%, and SG&A to be 8.3% of revenue.

The company delivered 2,959 homes at an average price of $974,000, generating record fiscal third-quarter home sales revenue of $2.9 billion, said chairman and chief executive officer Douglas C. Yearley Jr.

In the quarter, the company signed home sales contracts worth $2.41 billion, matching the contract value a year ago, but contracted home units fell 4% to 2,388.

The average sale price of a new home contract was $1.0 million, up 4.5% from a year ago.

The backlog value decreased 10% to $6.38 billion at the end of the third quarter, and homes in backlog were 5,492, down 19% from a year ago, respectively.

20 Aug, 2025

Home Depot Inc. increased 0.1% to $407.69 after the home improvement retailer reported a slight increase in revenue and a marginal decline in net income in the latest quarter.

Consolidated revenue increased 4.9% to $45.3 billion from $43.2 billion, net income inched lower 0.2% to $4.55 billion from $4.56 billion, and diluted earnings per share edged down 0.4% to $4.58 from $4.60 a year ago.

Home Depot estimated full-year total sales to increase by 2.8%, comparable sales to increase by 1%, but diluted earnings per share to decline by 3% from a year ago to $14.91.

The company said it plans to open approximately 13 new stores during the fiscal year 2025.

20 Aug, 2025

22 Jan, 2026

Caution Returned to Wall Street Amid AI Infrastructure Spending Growth Worry and Cloudy Outlook for Retailers

Barry Adams
22 Aug, 2025
New York City

Wall Street indexes struggled to advance on Friday, and investors reviewed the fresh batch of mixed earnings.

The S&P 500 index edged up 0.2%, and the tech-heavy Nasdaq Composite inched higher 0.1%, amid worries about the tariff-driven hit on corporate earnings.

For the week, the S&P 500 index is set to close down more than 2%, and the Nasdaq Composite is likely to ease around 1.4%.

Ross Stores reported mixed quarterly results and confirmed that the U.S. import duties are expected to lower its annual earnings per share by 5% from a year ago.

Earlier in the week, Walmart, Target, and other leading companies indicated that the sharp jump in import duties is increasing the cost of goods.