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📈 All the latest updates on the Stock Market: signals, news, and everything that might move the narrative — all in one place. 😉 We keep an eye on the price; you can just watch us do it. Buy Ads: @JamesCookTg
Weekly Stock Market Recap: November 11–17, 2024 🗓
S&P 500 Dips Over 2%
• A sharp pullback followed last week’s rally, driven by inflation data and cautious Fed commentary.
• Tesla shares surged by 25%, buoyed by pro-business expectations from the Trump administration.
• A stronger-than-expected jump in consumer confidence signals a brighter holiday spending outlook.
• The Federal Reserve lowered rates to 4.50%-4.75%, boosting market liquidity despite inflation concerns.
• Key reports from Walmart and Snowflake drove mixed reactions across sectors.
• Higher bond yields pressured tech-heavy indices, raising concerns over growth valuations.
📉 Rivian Faces EV Industry Challenges Post-Tax Credit Speculation
Rivian Automotive (NASDAQ: RIVN) faces headwinds following market speculation over EV tax credits. Shares saw a 0.9% decline amid broader concerns that policy changes under President-elect Trump could pressure profitability for automakers reliant on subsidies. Rivian, Ford, and GM are particularly vulnerable, as profitability without incentives remains elusive. Analysts are closely monitoring legislative developments and their implications for the EV sector.
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🤖Elon Musk’s xAI Goes Big on AI Infrastructure
Elon Musk’s xAI is making waves with a plan to raise up to $6 billion to acquire 100,000 Nvidia GPUs for a Memphis-based data center. Here’s what you need to know:
🔑 Key Points:
The GPUs will bolster xAI’s computational power for developing cutting-edge artificial intelligence systems.
💻 Nvidia chips, critical for AI workloads, are at the heart of the growing global race in AI tech infrastructure.
The data center is part of xAI’s broader strategy to compete with major players like OpenAI and Google DeepMind.
Musk’s focus on building proprietary AI systems aligns with his vision of developing AGI (Artificial General Intelligence).
📈Quantum Computing to Raise $40 Million in Direct Offering
Quantum Computing QUBT said late Thursday it has agreed to a registered direct offering of 16 million shares of common stock at $2.50 per share for gross proceeds of $40 million.
The offering is expected to close Nov. 18.
The company said it intends to use net proceeds to pay down debt and for general corporate purposes.
Quantum Computing shares were down more than 24% in premarket activity Friday.
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🇺🇦 Ukraine Bonds and Trump Victory: Investor Sentiment Shifts
Ukraine’s bond markets are seeing renewed interest as the country makes strides toward economic stability despite ongoing challenges. Investors are cautiously optimistic, eyeing the potential for growth in Ukraine’s post-conflict recovery. Meanwhile, Donald Trump’s recent electoral victory is adding another layer to market dynamics, as analysts consider how his policies could influence global financial stability and international investments, including emerging markets like Ukraine.
For more details, visit Financial Times.
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BREAKING: 🇺🇸 US inflation rises to 2.6%.
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🔔Swedish payments company Klarna Group has filed for IPO in the US
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🔽AbbVie Shares Plummet After Failed Trial Of Drug To Treat Schizophrenia
The company fell 12% as two trials of the drug emraclidine failed to show statistically significant improvement on a scale used to measure the severity of mental illness symptoms
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ℹ️Tesla shares, BTC and USD - the most popular ideas after Trump win
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📌 Bezos Sold Another Amazon Shares
Company CEO $1.23 billion worth of shares were sold last week. Amazon shares hit all-time highs after Trump wins
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🔴Elon Musk supports a plan that would allow the president to intervene in the Fed.
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🗓 US Corporate Earnings Season Continues
So far, 91% of S&P 500 companies have reported. Of these, 75% beat EPS expectations, below the 5-year average of 77% but in line with the 10-year average of 75%.
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📈Last week S&P 500 surpassed the 6,000 level for the first time in history, up +46% in 13 months
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🔼Sony's Operating Profit Rose 73% For The Quarter
Sony raised its full-year sales forecast and posted operating profit that beat analysts' expectations after a strong quarter for its gaming business.
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⚡️World food prices hit their highest level in 18 months in October - Bloomberg
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📉 Stocks of Vaccine Makers Slide Amid RFK Jr.'s HHS Nomination
President-elect Donald Trump’s decision to nominate Robert F. Kennedy Jr., a known vaccine skeptic, as the head of the U.S. Department of Health and Human Services triggered declines in vaccine maker stocks. Major U.S. firms like Pfizer, Eli Lilly, and Novavax, along with international companies such as AstraZeneca and BioNTech, faced drops in share prices. Concerns stem from Kennedy's history of promoting anti-vaccine rhetoric and advocating against corporate influence in health agencies, signaling potential regulatory disruptions ahead.
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📱 The following companies to resume advertising on X (Twitter) after boycotting:
• IBM
• Disney
• Comcast
• Discovery
• Warner Bros
• Lionsgate Entertainment
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🏎 Tesla Stock Rebounds Amid EV Tax Credit Debate
Tesla's stock recovered slightly on Friday, up 0.6% in premarket trading at $312.94, after a sharp 5.8% drop on Thursday. The market is reacting to reports that President-elect Donald Trump plans to reduce or eliminate EV tax credits, which make Tesla and other electric vehicles more affordable for buyers.
Wall Street analysts are divided:
• Wedbush’s Dan Ives views this as a potential long-term advantage for Tesla, given its global scale and cost structure. He maintains a *Buy* rating with a $400 price target.
• Gary Black of Future Fund ETF, however, warns that losing the credit could hurt Tesla's profit margins, as seen with past price cuts.
• Wells Fargo’s Colin Langan argues the repeal would negatively impact all automakers, especially those like GM and Ford, which have yet to turn a profit on EVs.
🇺🇸 Trump’s Win Sparks Optimism for Digital Assets
With Donald Trump back in office, digital asset markets are feeling a renewed sense of optimism.
Analysts suggest that Trump's deregulatory approach could provide a friendlier environment for crypto and digital assets, potentially leading to greater innovation and investment in the sector.
As discussions begin on how Trump’s policies might shape the future of digital finance, investors are watching closely to see how his administration could impact crypto-friendly regulations and foster growth.
Click Here for more details.
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📉 Super Micro Computer Stock Slumps as Pressure Mounts on Compliance
Super Micro Computer’s stock slide continues as concerns about a potential Nasdaq delisting grow.
The company’s delayed 2024 annual report and its auditor EY’s resignation—citing a lack of confidence in management’s financials—have raised red flags for investors.
Recent reports suggest the stock could see further drops if compliance issues aren't resolved by the November 16 deadline.
For more details, check the full story on Investopedia.
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📱 SPOT: Spotify Stock Soars to Record as Revenue Rises 19%, Profits Keep Humming Along
Investors once again play to the tune of profits. And even if those didn’t exceed estimates, Spotify is on track to secure its first full year of profitability.
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🔼Shopify Shares Jump 25% Following Quarterly Report
The Canadian operator of the platform for creating online stores Shopify increased revenue by 26% compared to the same period last year
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💥 Nissan Shares Rose To A 15-Year High
The company announced the purchase of 2.5% of its shares by activist fund Suntera Ltd
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⚠️ South Korea, Taiwan and Vietnam are also at risk of new trade tariffs - GS
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💎Diamond prices hit multi-year lows
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KEY EVENTS NEXT WEEK
⏺Monday, November 11:
Japan Inflation Forecast
⏺Tuesday, November 12:
Germany CPI
⏺Wednesday, November 13:
Japan PPI
US CPI
⏺Thursday, November 14
Eurozone GDP Q3
US PPI
Jerome Powell Speech
⏺Friday, November 15
Japan, UK GDP Q3
China Industrial Production
US Retail Sales
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🔍Current World Banks Rates
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⚡️China approves $1.4 trillion economic support package
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💵Tesla's Capitalization Exceeded $1 Trillion For The First Time Since April 2022 After Trump's Election Victory
Now Tesla is in the big tech club, whose capitalization exceeds $1 trillion - Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta
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💵Trump's victory netted hedge funds $1.2 billion in bets against renewable energy
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