Dow Jones Rallies As Apple Jumps; Donald Trump SPAC Rockets; Elon Musk Lashes Out, Tesla Pops

The Dow Jones Industrial Common rallied strongly as Apple (AAPL) hit a file excessive. Tesla (TSLA) additionally popped after CEO Elon Musk lashed out. The controversial Donald Trump SPAC Digital World Acquisition (DWAC) spiked greater.




X



A slew of shares have been breaking out amid the bullish motion. Life Storage (LSI), Public Storage (PSA) and Silicon Movement Expertise (SIMO) all handed purchase factors.

Traders appear to be betting on the omicron Covid variant being manageable, which might imply present provide chain and inflation woes have hit their peak.

“U.S. shares are shortly getting their groove again as omicron worries ease

Gold Sets Fresh Record Heading for Best Month in Eight Years

(Bloomberg) — Gold surged to a fresh record Friday fueled by a weaker dollar and low interest rates. Silver headed for its best month since 1979.

Spot bullion is up 11{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} in July, heading for its best month in eight years, as a gauge of the dollar slumped, prompting concerns its status as the world’s reserve currency of choice is at risk, and U.S. real yields fell to a record low. While the ferocity of rallies in both gold and silver cooled in the middle of the week, most market watchers predict there may be more gains ahead.

Both metals

Indo-US ties: Sitharaman, Yellen say deal with agency restoration coverage

Importantly, the FATF – the Paris-based international physique towards cash laundering and terror-funding – has retained Pakistan on its ‘gray listing’ for its persistent failure to crack down exhausting on terror-financing.

India and the US have underscored the necessity for sustaining “supportive insurance policies” till a robust and inclusive financial restoration is “firmly entrenched”.

Finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen acknowledged the devastation brought on by the Covid-19 pandemic and sought to bolster bilateral co-operation, on the eighth India-USA Financial and Monetary Partnership assembly, held in Washington on Thursday. It was additionally attended by Federal Reserve

VW Cuts Dividend After $940 Million Loss

(Bloomberg) — Volkswagen AG cut its dividend after losing 2.4 billion euros ($2.8 billion) in the second quarter, when the Covid-19 pandemic shuttered showrooms and factories in key markets.

The German manufacturer lowered its proposed 2019 payout by a quarter to help save roughly $1 billion after global deliveries contracted in the six months through June. VW expects markets to recover in the second half after business in July improved from the previous month.

The results show the dramatic impact of the industry’s biggest slump since World War II. Europe’s largest automaker cut its full-year outlook in April, echoing peers

Rivian Rescued Amazon Earnings—but Not Ford’s. Here’s Why.

Text size


Courtesy of Rivian


Amazon.com
‘s huge earnings beat was huge, but it wasn’t driven by consumer shopping or its cloud business. It was mostly driven by gains from its holdings of


Rivian Automotive
stock.


Ford Motor
owns Rivian stock too. Like Amazon, it reported better-than-expected fourth quarter earnings Thursday evening. Ford stock, however, isn’t climbing like Amazon shares in after-hours trading.

Amazon.com (ticker: AMZN) reported per-share fourth-quarter earnings of $27.75. Wall Street was looking for $3.77. Now that is an earnings beat.

Shares are jumping after the beat. Amazon stock is up 11% in premarket trading. Shares fell

Chemicals Pessimism Contrasts With Retail Beats: Earnings Wrap

(Bloomberg) — The picture emerging at the height of earnings season is patchy at best, with German chemicals maker BASF SE –- a bellwether of global industrial demand –- reporting a loss and forecasting no significant improvement in earnings in the third quarter, while some retail companies beat low expectations.

European companies’ second-quarter reports so far have been good enough to justify the stock market’s rally from the lows in March, though it’s not clear they’re providing fuel for further gains.

“Global stock markets appear to be starting to get a little wobbly as the latest earnings numbers start to

Govt seeks higher {industry} position in boosting exports

Having hit a month-to-month report of $35.7 billion in October, merchandise exports dropped under the $30-billion mark in November. Exports nonetheless registered a 26.5{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} rise in November from a 12 months earlier than but it surely was the bottom development price this fiscal.

The commerce ministry has requested state-backed export councils and key {industry} our bodies to work extra carefully with numerous authorities departments and abroad missions, and recommend, by way of analysis and research, “related areas for intervention”, as a part of its broader effort to understand the lofty $400-billion export goal for FY22.

Having efficiently weathered the injury

Gold Loses Momentum After Record as Volatility Roils Silver

(Bloomberg) — Gold’s record-breaking rally showed signs of flagging after futures touched $2,000 an ounce for the first time, as investors assess whether prices rose too high, too fast. Silver fell the most since March.

Both metals retreated after touching fresh highs earlier Tuesday, with gold climbing to a record, as traders looked to lock in profits and the dollar recouped some of its earlier losses. While there’s no end in sight to the economic turmoil unleashed by the coronavirus pandemic and expectations are that more stimulus will be needed to boost growth, investors may seek out more bullish signals

Shares pare earlier positive factors with Omicron, inflation in focus

Shares turned decrease Wednesday afternoon as extra hawkish remarks from Federal Reserve Chair Jerome Powell compounded with issues across the Omicron variant and its impacts on the economic system. The S&P 500, Dow and Nasdaq every erased earlier positive factors to dip into the purple.

The Facilities for Illness Prevention and Management stated Wednesday it recognized the primary confirmed case of the Omicron variant within the U.S.

The Facilities for Illness Prevention and Management stated Wednesday it recognized the primary confirmed case of the Omicron variant within the U.S. 

Shares lower positive factors after CNN first reported the information round

Protest Chaos Rocks Cities Across U.S. [Video]

Tens of thousands of people continued to demonstrate against racism and police tactics in protests across the country that at times turned violent, with shootings in Texas and Colorado and officials declaring “riots” in Portland, Ore., and Seattle. Photo: Marcio Jose Sanchez/Associated Press