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Last week, Ford (NYSE: F) released its Q2 2023 earnings. One of the key takeaways from the report was that the automotive giant is going slow on its electric vehicle (EV) expansion plan and simultaneously focusing on hybrids. To begin with, Ford reported a solid set of numbers in the second quarter and its revenues…
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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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China’s Commerce Ministry has admitted that its exports sector, which is a key driver of its economy, has been hit due to what it described as “politicization of trade.” China recently reported its Q2 2023 GDP data that came in below estimates. According to CNBC translation, Li Xingqian, the head of the ministry’s external trade…
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Twitter owner Elon Musk has now said that the company is still losing cash. His comments come barely two months after he claimed to have performed a “major open-heart surgery” on the social media company to make it viable. Responding to a tweet about recapitalization, Musk said, “We’re still negative cash flow, due to (about…
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Coinbase stock (NYSE: COIN) gained almost 25% yesterday after a US district judge ruled that Ripple Labs did not violate securities law by selling XRP. It’s a landmark judgment as it deems that Ripple Labs’ token wasn’t a security when it was sold to the public on crypto exchanges. The US SEC has been on…
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Ever since Elon Musk acquired Twitter in October 2022, the platform has faced recurring troubles and controversies. The most potent challenge to the microblogging site is now coming from the growing success of Threads which was launched by Mark Zuckerberg-led Meta Platforms last week. Threads surpassed 100 million users in five days and became the…
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A new crypto robot known as Qumas AI has been trending globally for the best part of 2023. The robot is supposedly equipped with powerful algorithms that automatically implement sophisticated trading techniques. Qumas AI is reportedly the most powerful Artificial Intelligence (AI) driven crypto robot. The reviewers also praise it for being user-friendly and the…
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Rivian stock (NYSE: RIVN) is trading over 12% higher in US price action today and is on track for its eighth straight trading session of gains after Wedbush Securities issued a bullish note on the startup EV company. In his note, Wedbush analyst Dan Ives said, “We believe after a number of ‘one step forward,…
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Fed chair Jerome Powell has said that the US economy is “resilient” even as he talked about the need for restrictive monetary policy to tame inflation. He did not rule out rate hikes at consecutive meetings after previously pausing its rate hikes earlier this month. Speaking at a monetary policy session in Sintra, Portugal, Powell…
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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…
