Ford raises F-150 Lightning prices; Caixin China December services PMI and other financial news updates

Ford raising F-150 Lighting prices, Ford is increasing the price of some of its electric F-150 Lightning pickup trucks. For an entry level Pro model, the company is now charging at least $54,995, up from $49,995, For its Platinum Black, it raised starting prices to $97,995 from $92,995. Ford shares were up about 1% in the premarket. Caixin China December services PMI expands at fastest rate since July, A private survey showed services activity continued to grow in China in December, with foreign demand for the country’s services also rising. The Caixin China General Services Business Activity Index rose to 52.9 in December compared with 51.5 in November, climbing for a 12th straight month. The survey also noted that the rate of growth was the fastest since July. “Growth momentum across China’s service sector continued to revive at the end of 2023,” according to the survey report. “Employment registered a subtle uptick as businesses exercised caution in hiring. But the slight expansion was sufficient to absorb new orders, keeping backlogs of work unchanged.” A PMI reading above 50 indicates expansion in activity, while a reading below that level points to a contraction. Hong Kong’s business activity improves at fastest pace since April, Business activity in Hong Kong’s private sector improved at the fastest pace since April, according to S&P Global. The city’s purchasing managers’ index rose to 51.3 in December, higher than the 50.1 seen in November. The S&P Global report noted that new business and output in Hong Kong returned to growth, though foreign demand conditions remained subdued. “The improvement in overall sales nevertheless supported faster employment growth, while firms also raised their inventory holdings amid softening cost pressures,” the report added. Japan Airlines shares plunge over 2% as markets react to collision, Shares of Japan Airlines slid as much as 2% on Thursday, before recovering slightly as Japan’s markets resume trading and react to the collision of a JAL flight at Tokyo’s Haneda airport on Jan. 2. The crash occurred when the JAL flight 516 collided with a Japan Coast Guard aircraft, and claimed the lives of five of the six crew members aboard the Coast Guard plane. In a regulatory filing on Thursday to the Japan Exchange, JAL said that the estimated loss from the aircraft collision amounted to 15 billion yen (105 million), which will be covered by insurance. Australia stocks extend slide, hit two-week lows, vAustralia stocks continued to slide after hitting a record high earlier this week, falling to two-week lows on Thursday. The S&P/ASX 200 fell 0.53% to trade near 7,495 — its lowest level since Dec. 19 — retreating from an all-time high of 7,632.70 hit on Tuesday. Aussie markets fell, tracking a somber global mood after minutes of the U.S. Federal Reserve’s meeting in December showed interest rate cuts were likely in 2024, but provided little clarity on when that might happen. Bets that the Reserve Bank of Australia will no longer be raising rates have buoyed the country’s stock market — but those hopes have been partly driven by the Fed’s dovish shift. The Aussie dollar strengthened 0.1% against the U.S. dollar in early trading. December ADP private payroll report set for Thursday release, The December ADP private payrolls report that’s set for release Thursday morning is expected to show companies added 130,000 workers last month, according to economists polled by Dow Jones. That would be an increase from 103,000 the prior month. The report is due out 8:15 a.m. ET. Initial jobless claims due out Thursday morning, Initial jobless claims, or the number of workers filing for unemployment benefits for the first time, is expected to have ticked up to 219,000 for the week ending Dec. 30, according to Dow Jones consensus estimates. That would be slightly higher from the week prior, when initial claims totaled 218,000. The report is set for release 8:30 a.m. ET on Thursday. Stocks making the biggest moves after hours, These companies are making the biggest moves in extended trading: Cal-Maine Foods — Cal-Maine Foods shares dropped 6.1%. The fresh egg producer reported second-quarter earnings of 35 cents per share, sharply lower compared to earnings of $4.07 per share from the year-ago period. Revenue came in at $523.2 million, lower than the $801.7 million the prior year. Cal-Maine Foods said it expects a recent HPAI outbreak within its Kansas facilities will hurt the overall supply of eggs until the hen flock is replenished. Resources Connection — Shares of the management consulting company popped 4.8%. Resources Connection posted second-quarter revenue of $163.1 million, exceeding the $161.9 million anticipated by analysts polled by FactSet. On the other hand, the company’s earnings of 14 cents per share was below the 17 cents earnings per share consensus estimate. MongoDB — MongoDB shares slid about 2%. UBS downgraded the stock to neutral from buy, and cut its price target, saying the stock will not continue on the same trajectory as last year, according to FactSet. In 2023, MongoDB shares more than doubled. Stocks futures open higher Wednesday night.