Stock futures fell ahead of an inflation report, with Snowflake’s CEO retiring and WW losing Oprah Winfrey from its board. Paramount Global reported strong streaming trends, while Republican Mitch McConnell announced his departure from the Senate leadership post.
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0 in Finance and 0 in Crypto last week
Democratic ETF Outperforms S&P 500 with Tech-Heavy Strategy
An ETF tracking the trades of Democrats in Congress, the Unusual Whales Democratic ETF, has outperformed the S&P 500, driven by significant holdings in tech giants like Microsoft, Amazon, Apple, and Nvidia. In contrast, a Republican-focused fund, the Unusual Whales Republican ETF, has underperformed the market. The lawmakers’ stock trading activities have faced increased scrutiny due to concerns about potential conflicts of interest and access to sensitive information.
read moreStock Market Update: Bitcoin Surges, Disney and Reliance Merge in India
Wall Street is experiencing mixed results, with Bitcoin rallying and Disney merging its India businesses with Reliance. Apple shifts focus to artificial intelligence, while Alphabet faces backlash over its AI image generator. TJX Companies beat estimates, Salesforce reports earnings, and UnitedHealth is under investigation. Starbucks agrees to pay hikes for unionized cafe employees.
read moreTech Firms’ Earnings, Beyond Meat’s Revenue, eBay’s Buyback, China Real Estate
Salesforce is expected to report record revenue with a focus on AI’s impact, while eBay’s shares rise on strong Q4 results and a $2B buyback plan. Beyond Meat’s stock soars after beating revenue expectations and announcing cost-cutting measures, and Apple cancels its electric vehicle project in favor of pivoting to AI. Chinese real estate giant Country Garden faces pressure to settle its debt crisis, amid struggles in the country’s property industry. (Source: Bloomberg, SEC)
read moreUS Stock Futures Slide Ahead of Key Economic Data Release
US stock futures fell as investors anticipated the release of crucial GDP data, with concerns that strong economic growth could delay potential interest-rate cuts by the Fed. The 10-year Treasury yield and the US Dollar Index rose, reflecting the market’s apprehension. Additionally, investors were monitoring retail and wholesale inventories, US trade balance figures, and scheduled comments from regional Fed presidents.
read moreFutures Down Ahead of Key Economic Data, European Markets Optimistic
U.S. futures dipped ahead of key economic data, with the Nasdaq 100, S&P 500, and Dow Jones down. In after-hours trading, eBay rose 4.2% while Urban Outfitters fell 9%. Additionally, European markets are expected to open higher, while Asia-Pacific indices ended lower. The U.S. 10-year treasury yield is down, and WTI crude oil futures are lower.
read moreStock Market Update: Dow Falls, Nasdaq Rises; Bitcoin Tops $57,000
The stock market saw mixed performance with the Dow and S&P 500 slightly lower, while the Nasdaq rose. Bitcoin surpassed $57,000, and Treasury yields fell slightly. Economic data showed a rise in home prices but a drop in consumer confidence and durable goods orders. Some stocks, like Salesforce and Disney, saw gains, while others, like Workday and Unity Software, fell. New issues like Cava and Birkenstock experienced significant movements.
read moreFrance’s Mistral AI Introduces Advanced Large Language Model Mistral Large
France-based startup Mistral AI has introduced its new proprietary large language model, Mistral Large, which outperformed several notable competitors in language understanding and math tests. The model, funded by major players like Nvidia and Salesforce, is available on Azure AI Studio and Azure Machine Learning through a partnership with Microsoft. Mistral Large is priced at $8 per million tokens of input and $24 per million tokens of output, positioning it as a slightly cheaper alternative to GPT-4 Turbo. Mistral AI’s valuation was reported to be nearly $2 billion in December, according to Bloomberg.
read moreEthereum Surpasses $3,000: Expert Predictions for 2024 Price Movement
Ethereum has surpassed $3,000 for the first time in two years, sparking predictions of further growth in 2024. Experts suggest potential price targets ranging from $3,500 to as high as $15,000, with the current price sitting at $3,153.75. The crypto market’s positive performance in 2024 has investors hopeful for Ethereum’s continued rally.
read moreWall Street’s Weekly Market Update and Corporate News Highlights
Wall Street closed the week with record highs for the Dow, S&P 500, and Nasdaq, with notable performances from companies like Nvidia and Disney. Investors are keeping an eye on upcoming earnings reports from companies like TJX Companies, Salesforce, and Domino’s Pizza, while also monitoring developments such as Berkshire Hathaway’s strong earnings and the cyberattack on UnitedHealth. Additionally, market analysts are adjusting price targets for companies like Broadcom and Rivian based on evolving market conditions.
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