Stocks are likely to tread water in today's holiday-shortened session as investors look for clues on consumer health from Black Friday sales while eyeing movements in the U.S. dollar. Major retails such as Target (TGT) - Get Free Report, Walmart (WMT) - Get Free Report and Amazon (AMZN) - Get Free Report launched early October sales in an effort to attract shoppers and shift billions in inventory that left over from the summer lull. However, with shoppers looking to spend less over the whole of the holiday season, experts are predicting a rush back to stores of around 166.3 million people, an 8 million increase over least year, between Thanksgiving Thursday and Cyber Monday. The tech-heavy Nasdaq is expected to open around 50 points lower from Wednesday's close, dragged down in part by a 1% slide in Apple (AAPL) - Get Free Report shares. Earlier this month, Apple cautioned that Covid restrictions at the 200,000-person plant would curtail shipments of its higher-end iPhones heading into the holiday season in most of its global markets.
DURKIN: You said that Snap's (SNAP) net revenue for the three months ending in September were up 6% from last year. But it did mark the slowest rate of growth since the company went public back in 2017. What is this doing–Snap specifically doing, to other tech stocks, in particular Twitter? J.D DURKIN: Now, the company also declined to give revenue or earnings guidance, you were alluding to that there a moment ago. For the fourth quarter, is that something we might start to see from other tech companies?1 month ago TheStreet
Big tech earnings continue to underwhelm, testing the market's solid October rally ahead of key inflation data prior to the opening bell. U.S. equity futures edged lower Friday, with the Nasdaq leading the declines, following another disappointing series of earnings updates from big tech companies that continue to raise questions about the resilience of the U.S. economy. Apple, meanwhile, was able to grind out a modest 0.5% gain after a solid set of fourth quarter earnings offset a muted holiday quarter sales outlook for the world's biggest tech company. Intel (INTC) shares were active in pre-market, rising 6.7% after the chipmaker posted stronger-than-expected third quarter earnings while unveiling big job cuts that offset another pullback in its full-year sales forecast. In overseas markets, the region-wide Stoxx 600 was down 0.4% in mid-day Frankfurt trading following a mixed series of third quarter earnings and data showing Germany's economy grew modestly over third quarter, defying recession fears.1 month ago TheStreet
A number of macroeconomic and geopolitical headwinds, including regulatory pressure from Beijing, have affected the share prices of Chinese stocks in general. Figure 1: NIO Stock Has Lost 85%. Nio (NIO) - Get NIO Inc. American depositary shares each representing one Class A 蔚来汽车 Report is an electric vehicle (EV) maker based in China. In the past couple of years, it has been priced as a speculative tech stock and has earned stretched valuation multiples. Being a speculative tech stock, NIO has been struggling thanks to its stretched valuation, as well as a number of headwinds including inflation, COVID lockdowns, and regulatory issues.1 month ago TheStreet
Elon Musk has never been a fan of Apple (AAPL) even though he uses the California giant's flagship product - his phone is an iPhone. In fact, Musk sees Apple as the obstacle in Tesla's road to the innovation throne. In other words, the policy change allows Apple to take a portion of social media ad revenue. The move also means that social media may increase boost fees to recover what Apple takes from them. Besides Musk, Meta Platforms, parent company of Facebook, Instagram and WhatsApp has also been very critical of Apple.1 month ago TheStreet
Better-than-expected earnings for a host of Dow components has the average moving higher Thursday, but Meta's collapse has tech in the red, with eyes on Apple and Amazon updates after the closing bell. Projections for its next move, however, are mixed, following a surprisingly smaller-than-expected 50 basis point increase from the Bank of Canada yesterday that suggests policy officials around the world are starting to asses the impact of their inflation fight on growth and employment prospects. The tech-focused Nasdaq is priced for a 72 point decline on the back of a massive pre-market decline for Meta Platforms. In overseas markets, the region-wide Stoxx 600 was down 0.7% in mid-day Frankfurt trading ahead of the ECB rate decision at 8:15 am Eastern time, while the FTSE 100 gained 0.08% in London. Overnight in Asia, stocks rebounded from their lowest levels in more than two years with the region-wide MSCI ex-Japan index marked 0.8% higher heading into the close of trading.1 month ago TheStreet
Nate Chastain, the man supposedly facing the first 'insider trading case for NFTs,' is still mired in a legal quagmire. The second is if you are going to buy crypto directly: store your coins and tokens in a cold wallet. The other approach is to invest in companies that do the buying for you, which are investing in crypto funds rather than crypto directly. Crypto Investor: How do you see the US government's move to regulate and in some ways crack down on crypto? Edelman: The government isn't cracking down on crypto, they're cracking down on crooks and those who are violating federal securities rules.1 month ago TheStreet
The billionaire CEO of Tesla has until October 28 to complete the acquisition of the social network for $44 billion. The suspense remains intact even if everything suggests that Elon Musk, the richest man in the world will become the owner of the social network Twitter (TWTR) before Halloween. On July 12, Twitter filed a lawsuit in the Delaware Chancery Court asking it to compel Musk to honor his initial commitment. What is certain is that if the two sides announce an agreement within the deadline, Musk will take Twitter private. Business-wise, Musk plans to use Twitter to create a Chinese-style Super App.1 month ago TheStreet