Tencent earnings, Coinbase’s crypto futures, Tesla cuts prices: Top Stories August 16, 2023 (Video)

we're about 35 minutes into the trading session let's take a look at how stocks are moving this morning they're mixed after some better than expected earnings out of Target and TJ Maxx still some caution about the consumer especially heading into back to school season but investors still see me optimistic we also see stocks reacting to cooling inflation in the UK and waiting out minutes from the fed that's to come this afternoon looking at individual names 10 cent getting squeezed this morning after reporting weaker than expected Revenue in its second quarter the disappointment from timson adding to fear around turbulence in the Chinese economy so the company did see 41 growth in profit compared to the prior year as cost cutting efforts finally kick in we're also watching coinbase the stock is popping today after the company announced that it received regulatory approval to offer U.S retail customers regulated crypto Futures that's going to be in the coming months and the country's largest crypto exchange said it secured the permission from the National Futures Association coinbase filed for approval to offer regulated crypto products shortly after its IPO two years ago and since acquired cftc regulated Futures exchange Fair X now rebranded as coinbase derivatives exchange and we are keeping an eye on Tesla as the electric vehicle giant made more cuts to its prices in China the luxury models s and X coming down between 7 48 500 as the company attends to boost sales and that competitive Chinese market in its most recent quarter Tesla's operating margins were at their lowest for at least the last five quarters down to 9.6 as it cut prices earlier this year we will see what impact this has on the company NeXT quarter