ADVFN US – Market Content Editor
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Monday’s Wall Street Highlights: Alibaba, Tesla, Kenvue, Boeing, and more
US index futures are higher in pre-market trading on Monday, even with continued uncertainty about the global economy. The week will be marked by the monetary decision of the European Central Bank (ECB) and American inflation data, influencing Federal Reserve’s decisions. At 6:53 AM, Dow Jones futures (DOWI:DJI) rose 71 points, or 0.20%. S&P 500 futures rose…
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Nvidia’s Dominance in AI Chips Stifles Investment in Startups
Nvidia’s (NASDAQ:NVDA) supremacy in building computer chips for artificial intelligence has cooled venture funding for potential rivals, according to investors, with the number of deals in the U.S. this quarter dropping 80% compared to the previous year. The Santa Clara, California-based company dominates the market for chips that power large-scale language data processing. AI generative…
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AstraZeneca Says Lung Cancer Drug Showed Durable Tumor Response in Mid-Stage Trial
AstraZeneca (NASDAQ:AZN) (LSE:AZN) said on Monday that its drug Enhertu showed a strong and durable tumor response as a potential treatment for patients with certain types of non-small cell lung cancer in a phase 1 trial. Enhertu, co-developed with Daiichi Sankyo, showed objective response rates of 49% at the 5.4 mg/kg dose and 56% at…
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North American Morning Briefing: Inflation, Retail Sales in Focus This Week
Market Wraps Watch For: Oracle earnings Today’s Headlines/Must Reads – Earnings Estimates Are Rising, a Welcome Sign for 2023 Market Rally – Energy Stocks Are Back in the Market’s Driver’s Seat – The 11% Yield That Isn’t in Your Mutual Fund – An Important Shift in Fed Officials’ Rate Stance Is Under Way Opening Call:…
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TikTok’s Challenge To Compete With Amazon With Its Own Marketplace
TikTok’s marketplace, known as TikTok Shop, represents the platform’s biggest bet as a new source of revenue growth. Initially available to some users in the United States, it currently resembles a storefront for low-cost Chinese products. The Shop feature of the app, which originally started as a social media platform, prominently displayed among the “For…
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How Supercomputer Dojo Could Boost Tesla Stock, According to Morgan Stanley
Tesla Inc.’s (NASDAQ:TSLA) Dojo supercomputer could potentially add up to $500 billion to the company’s market value through the accelerated adoption of robotaxis and network services, according to Morgan Stanley. Dojo could open up “new markets,” much like AWS did for Amazon Inc (AMZN), wrote analysts Adam Jonas and Daniela M. Haigian in a note,…
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ARM Considers Increasing IPO Price Range
Arm Holdings Ltd. is considering raising the price range of its initial public offering (IPO) after meetings with investors for what would be the world’s largest listing this year, according to people familiar with the matter. Sources, who requested anonymity as the information is private, said that the sale of shares of the chip designer,…
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Alibaba Shares Fall 4% After CEO Leaves Cloud Unit
The shares of the Chinese Alibaba Group, listed in Hong Kong, fell more than 4% on Monday after the surprise departure of Alibaba’s CEO, Daniel Zhang, from the company’s cloud computing business. The company announced Zhang’s decision to leave the unit in an internal letter to employees seen by Reuters. Zhang was scheduled to hand…
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US Futures, European Stocks Rise
In the U.S. futures for the S&P 500 were up 0.4% and futures for the Dow Jones Industrial Average climbed 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.6% in morning trading. Vistry Group rose 13.2% and Uniper rose 3.6%. On the other…
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Top Company News of the Day: J.M. Smucker, Instacart, Covestro, Chevron, Meta
Japan Financial Stocks Jump as 10-Year Govt Bond Yield Hits 9-Year High Japanese financial stocks rose sharply as the 10-year government bond yield hit a nine-year high after the Bank of Japan governor told a local daily that ending negative interest rates would be an option if wage and consumer price gains look sustainable. J.M.…