Additionally, strong retail sales played a significant role in boosting the company’s earnings.
Amazon Surpasses Walmart in Revenue
For the first time ever, Amazon’s quarterly revenue outpaced Walmart’s, signaling the growing dominance of the tech conglomerate in multiple sectors. Amazon reported $187.8 billion in revenue for the fourth quarter of 2024, exceeding Walmart’s $180.5 billion. While Walmart has consistently held the title of top revenue generator since surpassing Exxon Mobil in 2012, Amazon’s diverse business model—spanning retail and cloud computing services—helped it achieve this milestone.
Stock Market Movements
Following Alibaba’s strong earnings report, its shares surged 8.1% in the U.S. market on Thursday and climbed as much as 12% in Hong Kong on Friday. The company’s Cloud Intelligence Group saw a 13% year-on-year sales increase, further fueling investor optimism.
Meanwhile, U.S. markets declined on Thursday, with the S&P 500 falling 0.43%, the Dow Jones dropping 1.01%, and the Nasdaq Composite declining 0.47%. However, Asia-Pacific stocks reacted positively, with Hong Kong’s Hang Seng Index jumping over 3.4%, reaching its highest level since February 2022.
Japan’s Inflation on the Rise
Japan’s inflation rate hit 4% in January, the highest level in a year. Core inflation, which excludes fresh food prices, reached 3.2%, exceeding economists’ expectations. This marks the 34th consecutive month where inflation has remained above the Bank of Japan’s 2% target.
GameStop CEO Invests in Alibaba
In a separate development, GameStop CEO Ryan Cohen increased his personal stake in Alibaba to approximately $1 billion, according to reports from The Wall Street Journal.
KKR Eyes Thames Water Buyout
Private equity firm KKR is reportedly offering £4 billion ($5 billion) to acquire the struggling Thames Water utility in the U.K. The company has been grappling with rising debt and warned that it could run out of cash by March 24. The proposed buyout would prevent asset sales or a breakup of the utility.
Market Reactions to Walmart’s Forecast
As the largest U.S. retailer, Walmart is considered a key indicator of consumer spending trends. When the company announced that it expects slower profit growth for the current fiscal year, investors reacted negatively, leading to a broader market sell-off on Thursday.
Geopolitical Shifts: Russia’s Changing Stance on the U.S.
Since its 2022 invasion of Ukraine, Russia has largely opposed the United States due to economic sanctions and geopolitical tensions. However, with a new U.S. administration under President Donald Trump, Moscow appears to be softening its stance.
Recently, as tensions between Trump and Ukraine’s President Volodymyr Zelenskyy escalated—with Trump calling Zelenskyy a “dictator”—Russian President Vladimir Putin praised Trump for his diplomatic restraint. This shift in rhetoric suggests that Russia may be exploring a new path for negotiations and potential economic reintegration with the West.
