News in Numbers: US stock market rebounds after losing 7% in previous two days
What is it? The increase in the Dow Jones on Tuesday, as the US stock market rebounded after losing 7% in the previous two days in nervous and volatile trading.
Why is it important? Although US stocks bounced back, an extended period of volatility is still predicted and it could even intensify the drop in share prices. World markets mirrored this sentiment: in India, on Tuesday, the benchmark Bombay Stock Exchange Sensex fell for the sixth straight day, slumping 3.7% during the day before ending the day with a loss of 1.6%.
Tell me more: The monetary policy committee of India’s central bank is scheduled to meet on Wednesday, and the consensus is that it is unlikely to lower interest rates.
What is it? The amount of container traffic in TEUs (Twenty foot equivalents) handled by the Jawaharlal Nehru Port Trust (JNPT), India’s largest container port, in January 2018.
Why is it important? This is the highest-ever container traffic handled by JNPT in a month and is an increase of 13% over January 2017. Thus, for the 10-month period in 2017-18 till January, it has handled 4 million TEUs, which is 6.9% higher than the corresponding figure for 2016-17.
Tell me more: Growth in JNPT was flat in 2016-17, at just 0.2%. But the numbers so far for 2017-18 should put it back on the growth path.
What is it? The market capitalisation of Amazon, the Seattle-based e-tailer, on Tuesday on Nasdaq.
Why is it important? During trading on Tuesday, Amazon leapfrogged Microsoft, a fellow corporate resident of Seattle, to become the third-most valuable company in the US, but eventually closed $8 billion behind. Amazon’s rise demonstrates the tailwinds it currently has: in 2017, the results for which it declared last week, it reported a 25% increase in net profit—while continuing to invest heavily to win markets and pry open growth—on 31% revenue growth.
Tell me more: The two-most valuable companies in the US are Apple and Google. In 2017, Amazon recorded higher growth in market capitalisation than the other three.
What is it? The maximum payload the SpaceX Falcon Heavy rocket can deliver to low-earth orbit.
Why is it important? Successfully launched on Tuesday from Cape Canaveral in Florida, US, the Falcon Heavy is now the world’s most powerful operational rocket. It’s a big step for the private company, potentially paving the way for SpaceX to launch heavy national security satellites or send large modules or people into deep space. However, while it is the world’s most powerful operational rocket, it’s not the most powerful ever.
Tell me more: On board the rocket is a Tesla roadster of Elon Musk, the promoter of SpaceX, with the plan to put the car into orbit. There’s a dummy dressed in a spacesuit at the wheel and the car is blaring David Bowie’s Space Oddity on loop.
What is it? The monthly salary paid by Paris Saint-Germain (PSG), the leading club in French football, to Neymar, whom it snagged from Barcelona last year.
Why is it important? French newspaper L’Equipe reported on Tuesday that 12 of the 13 best-paid players in the tier-I French league were from PSG, led by Neymar, who earns twice as much as the second-best paid player, teammate Edinson Cavani. It underscores the imbalance in wages in European leagues in general and the French league in particular, where PSG paid 5.7 times the French league average—more than any other top league.
Tell me more: The highest-paid footballer in terms of salaries is Neymar’s former Barcelona teammate Lionel Messi, who signed a new deal in December 2017 to become the highest-paid footballer in the world.
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