Hello MarketClub members everywhere. Stocks are little changed today as traders eagerly await a key Federal Reserve release. The central bank is scheduled to release the minutes from its meeting earlier this month and Wall Street is expected to parse through them in search of clues about when and how many times it will raise interest rates this year.
Chinese e-commerce giant Alibaba Group Holding Limited (NYSE:BABA) is increasingly moving beyond its core e-commerce business to search for new avenues of growth. Over the weekend, Alibaba announced it had formed a strategic partnership with Shanghai Bailian Group, one of China's largest supermarket and department store chains, in order to deepen its so-called "New Retail" strategy. And on Tuesday, Alibaba's finance arm, Ant Financial, announced a $200 million investment in South Korea's dominant messaging app Kakao Talk.
Key levels to watch next week: [Read more...]