Tag: stock

Stock indexes snap three-month losing streaks

by admin on December 3, 2023 in American Business News

Home » Stock indexes snap three-month losing streaks

Dow Jones chart — Source: Sosland Publishing Co.

Recap for November 30

US equity markets were mixed Thursday, the tech-centric Nasdaq posting a decline. But the Dow Industrials index soared on the last day of November after a Commerce Department report showed Americans slowed spending and that inflation continued to pull back in October, increasing investors’ hopes the US central bank would hold the line on raising interest rates. All three major indexes posted gains of at least 8% in November, ending three-month losing streaks. The Dow Jones Industrial Average soared 520.47 points, or 1.47%, to close at 35,950.89. The Standard & Poor’s 500 added 17.22 points, or 0.38%, to close at 4,567.80. The Nasdaq Composite lost 32.27 points, or 0.23%, to close at 14,226.22.

Wheat futures continued higher Thursday after the US Department of Agriculture indicated 2023-24 US wheat export sales in the week ended Nov. 23 at 622,800 tonnes, a six-week high that topped a range of trade expectations for 200,000 to 500,000 tonnes. Wheat and corn futures also were supported by short covering after slumps to multi-year lows. Soybean futures were rangebound and closed lower despite reports of private sales of US supplies to China. December corn futures added 12¢ to close at $4.61¾ per bu. Chicago December wheat added 14¼¢ to close at $5.70¼ per bu. Kansas City December wheat added 3¼¢ to close at $6.43¼ per bu. Minneapolis December wheat added 5¾¢ to close at $7.02½ per bu. January soybeans fell 4¼¢ to close at $13.42¾ per bu; September 2024 and beyond were narrowly higher. December soybean meal was down $2.10 to close at $442.20 per ton. December soybean oil dropped 0.39¢ to close at 52.29¢ a lb.

US crude oil prices turned lower Thursday. The January West Texas Intermediate light,

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After Birkenstock’s NYSE debut, its stock (BIRK) fell how much?

by admin on October 17, 2023 in Business Investment News

Welcome to The Globe and Mail’s business and investing news quiz. Join us each week to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.

This week in business and investing: A prominent Toronto-based toy company just announced the biggest takeover in its history, worth US$950 million. Despite its growing portfolio, the company is still trading below prepandemic levels, but a recently-released movie might give their next reports a much-needed boost.

Meanwhile, Birkenstock’s IPO got off on the wrong foot, with its stock falling below its initial public offering price on Wednesday. And, Taylor Swift’s concert film is already making millions in presales, while shoe maker Crocs is teaming up with chocolatiers for a candy-themed clog just in time for Halloween.

Do you remember these stories? Take our quiz below to test your recall for the week ending Oct. 12.

1This is the stock market ticker for the new owners of toy company Melissa & Doug (hint: They’re responsible for Paw Patrol).

a. TOY–T

b. SPIN

c. GOLD

d. MAT

2Statistics Canada will release inflation numbers for September on Oct. 17. According to the previous release, Canada’s consumer price index clocked in at ___ in August.

a. 2.4 per cent

b. 3.9 per cent

c. 4.0 per cent

d. 4.4 per cent

c. 4.0 per cent. Canada’s annual inflation rate accelerated to 4 per cent in August, up from 3.3 per cent in July and the highest level since April.

3Taylor Swift: The Eras Tour is opening in theatres in more than 100 countries, including Canada. In presales alone, the movie has earned:

a. US$13-million

b. US$100-million

c. US$120-million

d. US$189-million

4In April, a thief stole $23-million

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Weekly stock market update | Edward Jones

by admin on July 27, 2023 in Business Investment News

Signs of the Times: What Are Key Indicators Signaling?

Key Takeaways:

Stocks have rallied sharply off of the October bear-market low, recouping the majority of the 26% decline between January and October of last year.

Trends in jobless claims, labour turnover and hourly earnings are, in our estimation, signaling some emerging fatigue that will transpire in the second half of the year. Although a deceleration in personal consumption will weigh on the overall economy, we think there are green shoots emerging that will support a more benign slowdown. We believe a downturn will take the form of a “rolling recession,” meaning various areas of the economy will slow and rebound at different times.

Despite mixed signals around the near-term path for the economy, there are reasons for investors to be optimistic about the markets, even as growth is slowing.

Stocks continued their march higher last week, adding to 2023’s impressive gain that now has the S&P 500 within 6% of the all-time high.* The latest batch of U.S. corporate earnings announcements offered an additional boost, as quarterly results have, so far, indicated that companies are adequately navigating the terrain of high but falling inflation (labour and input costs) and strong but moderating demand (sales). The run in the markets since May has largely been powered by rising optimism around the potential for a goldilocks scenario, in which economic conditions are neither too hot to prevent inflation from falling further, nor too cold to descend into recession.

We don’t think this outcome is unrealistic; thus, we don’t think this market rally is misguided. That said, the steady ascent for stocks may be a bit optimistic. We don’t believe the market needs to give back the year’s gains, but our analysis suggests it’s premature to sound the “all clear” for the economy.

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Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

by admin on July 15, 2023 in Business Investment News

Screen Crit

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AI is booming in the stock market. Is it too late to invest?

by admin on June 16, 2023 in Business Investment News

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.

New York
CNN
—

Wall Street has a lot to worry about — recession and war in Europe, interest rate hikes, sticky inflation, and a softening US economy.

But there’s at least one sector of market euphoria keeping investors optimistic: artificial intelligence.

Last Thursday, the S&P 500 entered a bull market — up 20% from its recent lows. In a note on Friday, Bank of America economists said the move upwards was mostly because investors have bought into a singular equity theme: AI.

“Recent developments in generative AI herald a sea change,” they wrote.

But the market’s strength has been mostly driven by a handful of mega-cap tech stocks, Alphabet

(GOOGL), Meta

(META), Apple

(AAPL), Amazon

(AMZN), and Nvidia

(NVDA). That’s why the tech-heavy Nasdaq (up 27%) and the S&P 500 (up 12%) are so much higher this year than the Dow Jones Industrial Average (up just 2%).

The returns from those five tech stocks this year are the largest we’ve seen in the past two decades, said Matt Bartolini, head of SPDR Americas research at State Street Global Advisors. This year, Nvidia’s stock is up 165%. Meta is up 120%. And Apple, Amazon and Alphabet are all up around 40%.

Before the Bell spoke with Bartolini about what the AI boom means going forward and whether investors should be weary.

This interview has been edited for length and clarity.

Before the Bell: AI is causing a big market boom right now, but that boom also seems to be concentrated in mega-cap tech stocks. Can that

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From stock analyst to business partner, what all ChatGPT can do after its internet update?

by admin on May 24, 2023 in Business Breaking News

Ever since its launch, ChatGPT has become the newsmaker in the tech industry and has revolutionised every sector of the economy. Its latest update, which has enabled the OpenAI’s chatbot to get access to the internet, proved to be another performance booster for the AI chatbot.

As of now, the updated version is exclusively available to ChatGPT Plus subscribers, who pay around $20 per month. After getting internet access, CHatGPT is now able to generate more up-to-date and accurate responses on the most recent issues. This will help Chat GPT in churning out the most useful information for the user from the vast sea of information existing on the internet.

Recently, a Twitter user and an Artificial Intelligence enthusiast shared the amazing benefits of ChatGPT which didn’t exist before.

“ChatGPT just received its biggest update. It’s now connected in real-time to the Internet. Here are 8 things that were not possible on ChatGPT before,” tweeted itsPaulAi. The thread mentioned the eight useful functions of ChatGPT that didn’t exist before its internet update.

ChatGPT just received its biggest update.

It’s now connected in real time to the Internet.

Here are 8 things that were not possible on ChatGPT before:

— Paul.ai (@itsPaulAi) May 18, 2023

With its new update, ChatGPT Plus can enable the Web Browsing option in the settings, select GPT-4 web browsing template, and can cite its sources with small numbers and links.

ChatGPT as a news summariser

By using the latest ChatGPT Plus, users can get the summary of any news in seconds. All they need is to ask about the recent event to the chatbot and ask it to summarise the news in limited words.

ChatGPT as the best business partner

You can make ChatGPT your best business partner by using the AI chatbot to identify a

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Google parent company beats profit estimates announcing stock buyback

by admin on April 28, 2023 in Business Breaking News

Google’s parent company Alphabet Inc had said it would buy back $70 billion in stock and posted first-quarter profit and revenue above estimates as demand rose for cloud services and ad sales held up better than expected.

Investors cheered the buyback plan, sending shares of the Google parent as much as 4 per cent higher in after-hours trade before they pared gains to trade up 1.6 per cent. Demand rose for cloud services and Google’s ad sales held up better than expected.

Alphabet reported a slight dip in first-quarter ad sales from a year earlier to $54.55 billion, which nonetheless beat analyst estimates of $53.71 billion. It was the third such decline for the company since it went public in 2004, but was the second in a row following a fourth-quarter ad sales drop of 3.6 per cent.

Excluding items, Alphabet reported earnings per share of $1.17, beating an average estimate of $1.07 per share.

“Google exceeded both revenue and earnings per share expectations this quarter, but reasons for investor optimism are modest,” Insider Intelligence senior analyst Max Willens said.

He added turning a profit in cloud computing was “notable” but “the reality is that Google Cloud remains comfortably behind its two most important competitors, and its growth is slowing.” Sales for the unit rose to 28 per cent to $7.41 billion.

As well, advertisers, who contribute the bulk of Alphabet’s sales, have curtailed their spending in response to a shift by consumers back to in-store shopping in the wake of eased masking and other restrictions. Marketers are experimenting more with new platforms like TikTok, which attracts a more youthful audience.

The company, meanwhile, has been looking to keep a tight control on costs amid recession fears and in January decided to cut about 12,000 jobs. Chief financial officer Ruth

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Waton Securities International Bolsters Its Business with Professional Certification as a Hong Kong Stock Investment Advisor from the Asset Management Association of China

by admin on April 25, 2023 in Business Investment News

SHENZHEN, China, April 24, 2023 /PRNewswire/ — On April 6th, 2023, the Asset Management Association of China (“AMAC”) announced that Waton Securities International has completed registration with AMAC and is now qualified to provide Hong Kong stock investment advisory services to mainland institutions, including mainland securities companies and fund managers of publicly offered securities investment funds.

According to the China Securities Regulatory Commission and AMAC’s public information, only 79 institutions have passed the review as of the announcement date, including many leading Hong Kong financial securities firms and fund companies such as Da Cheng International Asset Management, China Asset Management, E Fund Management, and CIFM Asset Management.

Hong Kong institutions that have obtained the qualification to provide Hong Kong stock investment advisory services to mainland securities companies and fund management companies under the “Hong Kong Stock Connect” program are part of the trend of increasing integration of the two capital markets. With the gradual deepening of the interconnection mechanism between the mainland and Hong Kong stock markets, a large number of mainland securities and fund management institutions have issued asset management products that invest in Hong Kong stocks through the “Hong Kong Stock Connect” program. However, their familiarity with the Hong Kong stock market is still inferior to that of local investment advisory institutions in Hong Kong, and the demand for securities investment advisory services provided by Hong Kong institutions is increasing.

Waton Securities International’s recent qualification as a Hong Kong stock investment advisor marks a significant milestone in its journey towards consolidating its professional capabilities and strengths in the industry. With this new development, the firm is now able to provide more comprehensive and highly professional Hong Kong stock investment advisory services to clients in need. This achievement also represents a crucial step in Waton

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Amazon Stock Struggles As It Restructures Workforce| Investor’s Business Daily

by admin on April 19, 2023 in Business Investment News

For years, Amazon seemed invincible, an e-commerce giant that made other companies shiver when it muscled into their markets. It helped Amazon stock soar into four-digit territory, and the company’s earnings reports often delighted investors.

Now, after a year of troubling earnings reports, Amazon has launched a major restructuring, including plans to cut 27,000 employees from its workforce. Is Amazon stock a buy?

In late March, Amazon announced plans to slash 9,000 jobs. That’s on top of the 18,000 job cuts it announced in January.

“Given the uncertain economy in which we reside, and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and head count,” Amazon Chief Executive Andy Jassy said in a written notice to employees when the layoffs were announced. He also suggested more layoffs are possible. The cuts mainly focus on Amazon Web Services, advertising, Twitch, human resources and its stores divisions.

Amazon Jumps Into Artificial Intelligence

On April 13, Amazon jumped into the booming field of generative artificial intelligence, the technology behind ChatGPT. Amazon stock climbed on the news, as did other AI companies.

Alphabet and Microsoft (MSFT) previously announced plans to bring ChatGPT to the public. Meanwhile, Amazon’s cloud computing unit, Amazon Web Services, plans to target corporate customers.

AWS will also expand access to custom-made chips. They say the chips can run AI software more efficiently and cheaper than competitors can.

“Machine learning has been a technology with high promise for several decades. But it’s only been the last five to 10 years that it’s started to be used more pervasively by companies,” Chief Executive Andy Jassy said in his letter to shareholders.

Machine learning is a form of artificial intelligence.

Jassy went on to say: “We will continue to

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Tupperware stock plummets after warning it may go out of business

by admin on April 13, 2023 in Business Breaking News

Tupperware says it may go out of business

Tupperware may go out of business, company warns

04:34

Tupperware is warning it may go out of business, just three years after the retro brand enjoyed a surprise surge from legions of pandemic shut-ins trying their hand at cooking.

The Orlando-based company said it had “substantial doubt about its ability to continue as a going concern” in a press release and securities filing.

Shares of the direct marketing company plunged 50% after announcement late Friday. Tupperware’s stock was trading at about $1.28 a share Tuesday, down 70% since the start of the year.

Tupperware will likely renege on some of its debt, the company said, citing in part “cash constraints caused by higher interest costs.”

It’s also considering selling some of its real estate holdings or cutting other parts of the business, which it termed “right-sizing efforts” in its press release.

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” Miguel Fernandez, Tupperware Brands CEO, said in a statement. “The Company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.”

Financial mistakes

When it reported preliminary earnings last month, Tupperware said it had “identified misstatements” in some of its earlier financial reports and said it “did not design and maintain effective internal controls” when it comes to tax accounting.

Last Friday, Tupperware also warned that it faces delisting from the New York Stock Exchange because it is late in filing its standard annual report, known as a 10-K. It also said that, when it does file its financial results, they will look substantially worse than the company

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