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Data released today showed that US inflation rose to multi-year highs in May. However, markets seemed to shrug off the data and Dow Jones opened higher. US consumer price index rose to 5% in May, which was higher than the 4.7% which analysts were expecting. This is the highest reading for the US retail inflation…
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Apple stock is down 5% so far in 2021 and is underperforming the broader markets as well as the FAANG peers. Can the stock reverse its recent underperformance and hit the $3 market capitalization that some analysts are projecting? In the FAANG pack, Apple is the second-worst performer in 2021 while Netflix is the worst…
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Tesla stock was trading lower in early US price action today after the company announced that it would cancel the Model S Plaid plus model. The Model S along with Model X are among the older models in Tesla’s portfolio. The company did not produce these in the first quarter of 2021 as it was…
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Tesla has been raising prices for its electric cars amid a massive increase in input costs. Apart from higher input costs, automakers are also battling a severe chip shortage that is hurting production. There has been cost-push inflation for automakers with prices of key raw materials like steel, copper, and aluminum rising. Steel prices are…
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Alibaba stock is down over 8% so far in 2021 and is underperforming the S&P 500. The stock has looked weak over the last six months due to multiple reasons. Is it a good stock to buy now after the recent underperformance? To begin with, let’s understand why Alibaba stock has underperformed the markets as…
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US stock futures are trading slightly higher this morning on Memorial Day following the release of China’s manufacturing Purchasing Manager’s Index (PMI) while most participants will be eyeing some important events this week including today’s inflation data readings, Tuesday’s OPEC+ meeting, and Friday’s employment data release. Last week, major US stock indexes finished mixed, with…
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Li Auto was trading flat in US premarket trading today after posting mixed first-quarter earnings. While the company’s topline performance was better than expected, it posted a wider than expected loss. Li Auto posted revenues of $545.7 million in the first quarter of 2021 which were higher than the $521.5 million that analysts were projecting….
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NIO stock gained over 5% yesterday and was trading over 1% higher in US premarket trading today. The company has announced plans to double the production capacity for its electric vehicles. NIO does not produce its own cars but works with the state-owned Jianghuai Automobile Group popularly known as JAC. NIO has announced that “Pursuant…
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The price of Bitcoin (BTC) is hovering above the $40,000 psychological threshold today in early cryptocurrency trading action only two days after the token slid to its lowest levels in almost four months. A ban imposed by top Chinese financial regulatory agencies on the offering of crypto-related products and services by payment processing companies and…
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Coinbase stock has fallen to a new low today as the sharp decline in cryptocurrencies is taking a toll on the crypto exchange that listed last month only. Bitcoin prices were anyways weak over the last couple of weeks after Tesla’s CEO Elon Musk said that the company would stop accepting them as payments. Now,…
