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Those fancying a Santa Claus Rally this year are in for a rude shock as US markets have plummeted this week. Apple stock (NYSE: AAPL) which was holding steady so far is also drifting towards its 52-week lows amid the crash. Meanwhile, despite the recent weakness Apple stock is outperforming not only its FAANG peers…
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The US Fed would begin its two-day meeting today post which it would announce the rate hike decision. Markets expect Fed to raise rates by 50-basis points at the meeting but could chair Jerome Powell surprise markets? The Fed has been on a rate hiking spree not seen since the 1980s. It has raised rates…
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US stocks fell last week and had their worst week since September. Some analysts see US markets falling to a new low in 2023. Hedge fund manager Dan Niles whose long-short fund is outperforming the markets in 2022 sees US stocks hitting new lows in 2023. Niles however sees a Santa Claus rally this year….
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Taiwan Semiconductor Manufacturing Company or TSMC has increased its investment in the US and would now set up two chip plants in the country. Apple CEO Tim Cook said that the company would use chips produced at TSMC’s Arizona plants. The event was also attended by President Joe Biden whose administration’s CHIPS and Science Act…
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Amazon stock (NYSE: AMZN) fell 3.3% yesterday and is now approaching its 52-week lows. What’s driving the crash in Amazon stock? To be sure, there has been a wider market sell-off. Tech stocks have been especially under pressure given their relatively high valuations. Also, Amazon is among the former “stay-at-home” winners. These stocks saw their…
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US stock markets rallied handsomely yesterday after Fed chair Jerome Powell’s dovish comments at a speech at the Brookings Institution. While the Fed has played party pooper over the last six months, this time Powell said just what the markets wanted to listen. The US central bank has raised rates by a total of 3.75%…
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Lordstown Motors (NYSE: RIDE) gained over 8% yesterday after the company said that it has begun deliveries of its Endurance pickup truck to customers. The Endurance pickup has achieved full homologation which is a critical condition for beginning deliveries. The model has also received CARB (California Air Resources Board) and EPA (Environmental Protection Agency) certifications….
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Lucid Motors (NYSE: LCID), which went public last year through a reverse merger with Churchill Capital IV, fell below $10 in yesterday’s price action and hit its new post-merger low. Can the once-hyped Tesla killer live upto the hype? To be sure, LCID stock is still only marginally below $10. The performance might look quite…
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Zoom Video Communications (NYSE: ZM) released its earnings for the fiscal third quarter of 2023 yesterday after the markets closed. While its earnings were better than expected, it lowered its full-year guidance. Zoom reported revenues of $1.1 billion which were 5% higher than the corresponding quarter last year and were in line with what analysts…
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Institutional investors in Big Tech companies have been a worried lot as the stocks have sagged this year. In the latest move, TCI Fund Management has written a letter to Alphabet calling upon the company to lower costs. TCI said that it has been a “significant shareholder” of Alphabet since 2017 and currently holds around…
