It’s a huge week ahead with three major central banks providing their latest interest rate decision and monetary policy outlook. The global market's volatility is likely to be higher than usual due to rising inflation and geopolitical tensions.
Shares of Bumble (NASDAQ: BMBL) jump 19% in extended trading on Tuesday after the Texas-based company reported mixed Q4 financial results. The company's total revenue for the last quarter was $208.2 million, up 26% year-over-year.
Global markets were under huge pressure on Monday after the massive jump in energy and commodity prices as Russia’s invasion of Ukraine continues.
Shares of the department store giant Target (NYSE: TGT) bounced more than 10% after the company's fourth-quarter earnings came in better than analysts were expecting. For the period, Target earned a profit of $3.19 per share and the company released an upbeat revenue outlook for 2022.
End of SWIFT for Russia
SWIFT means The Society for Worldwide Interbank Financial Telecommunication and it was established in 1973. More than 10.000 financial companies are now part of it. SWIFT allows banks included to securely send messages and money transactions also in foreign currency. Because for now there is no approved alternative in the world, it is important for global economy. The way it works is, that every member gets unique ID, where everything is written: name of the bank, country, city and also which branch.