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After a strong first-half performance amid the tech rally US stocks have weakened in August and the Nasdaq Composite has lost 8% while the S&P 500 is down 5.2%. Both the indices have fallen for three consecutive weeks as fears rise. Incidentally, the fall in US stocks is coming at a time when the Bank…
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Tesla (NYSE: TSLA) has lowered the prices of select Model Y variants in China and launched lower-priced versions of Model S and Model X in the US as the Elon Musk-run company looks to spur sales. Tesla lowered the prices of two variants of its Model Y crossover in China by around $2,000 and offered…
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X which was formerly known as Twitter has been in the news ever since billionaire Elon Musk acquired the company last October and took it private. He later quit as the company’s CEO and hired former NBC Universal advertising executive Linda Yaccarino to lead the company. In a recent interview, Yaccarino said that she has…
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US stocks are sharply lower this morning after credit rating agency Fitch lowered US sovereign debt rating. Economists aren’t too perturbed by the downgrade though. Fitch lowered the long-term US sovereign debt rating from AAA to AA+. The rating agency had placed the rating on a “negative watch” in May amid the drama over the…
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Chinese electric vehicle (EV) companies including NIO (NYSE: NIO), Xpeng Motors (NYSE: XPEV), and Li Auto (NYSE: LI) have reported their July delivery reports. Here are the key takeaways from the reports. Notably, while US-based EV companies like Tesla (NYSE: TSLA), Lucid Motors (NYSE: LCID), and Rivian (NYSE: RIVN) report their deliveries on a quarterly…
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Billionaire Elon Musk has rebranded Twitter as X and replaced the iconic blue bird with an X logo. The social media platform meanwhile continues to grapple with multiple troubles even as Musk seems to be pivoting it to become an everything app like WeChat in China. Last year, Musk reportedly told Twitter employees that “You…
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Cathie Wood of ARK Invest has said that her Innovation ETF (NYSE: ARKK) has exited all Chinese stocks. Here are the key takeaways. To begin with, after massive losses in 2021 and 2022, ARKK has rebounded in 2023 and is up around 50% – outperforming the broader market. The ETF has assets of around $9…
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Nvidia stock (NYSE: NVDA) is already the best-performing S&P 500 and has almost tripled this year. While some market observers are concerned about the stock’s valuation, Goldman Sachs raised its target price and sees more upside for the chipmaker. Goldman Sachs analyst Toshiya Hari maintained his buy rating on Nvidia while raising his price target…
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AI is the newest battlefield for tech companies and after launching its Tongyi Qianwen chatbot, Alibaba has now launched Tongyi Wanxiang a generative AI tool to generate images from text. There are already such offerings from other companies including DALL-E from OpenAI. OpenAI’s ChatGPT is among the most well-known AI tool and it became the…
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US stocks have looked strong in the first half of the year and with gains of over 36%, the Nasdaq 100 is headed for its best first half ever. Here’s what analysts predict for the markets in the back half of the year. US stocks entered 2023 on a negative note after the Nasdaq lost…
