October 11, 2021 6:16 am
The market pullback that began in September and brought the S&P 500 down more than 5% from its record did not prove to be a “bubble burst”. For the week ended, the S&P 500 added back 0.8% and is again just 3.4% away from its record. Even the relatively disappointing employment figures on Friday did […]
Read moreOctober 10, 2021 5:51 pm
Production at Ford Motor Co’s (F) Hermosillo plant in Mexico will be temporarily suspended on October 11th and October 12th due to a shortage of material, the facility’s labor union said last week. However, it did not become clear which materials were in short supply. Plant workers will receive 75% of their salaries on those […]
Read moreOctober 8, 2021 8:34 am
The US Markets finished on the green yesterday, with the Dow, S&P and Nasdaq adding 0.92%, 0.83% and 1.05% respectively. Two important things cheered the market – the debt ceiling deal and the favorable labor market conditions reported so far. The Senate closed in a deal to avert default right now, increasing the debt ceiling […]
Read moreOctober 8, 2021 7:17 am
Royal Dutch Shell said on Thursday that it expected to incur a $400 million hit to its third-quarter earnings, to be reported this month, from August’s Hurricane Ida. On the other hand, the oil company raised its cash flow forecast due to rising electricity prices. Gas and electricity prices have been surging since tight gas […]
Read moreOctober 7, 2021 7:24 am
Alphabet Inc’s Google said on Wednesday that it intended to invest $1 billion in Africa over the upcoming five years in order to facilitate access to fast and cheaper internet service and to support the continent’s digital transformation. The announcement was made during a virtual event where Google launched an Africa Investment Fund, through which […]
Read moreOctober 6, 2021 11:16 am
Yesterday, buoyed by the better than expected ISM Services PMI report, and stimulated by dip-buying, US stocks rebounded from recent lows. The Dow Jones, S&P500 and the Nasdaq ended on the green territory with 0.92, 1.05 and 1.25% respectively. The big tech-stocks representing the Nasdaq are outperforming the broad indices by its higher beta – […]
Read moreOctober 6, 2021 9:10 am
General Motors Company (GM) announced on Tuesday plans to open a battery cell development center in Michigan in an attempt to reduce the cost and increase the driving range of its electric vehicles powered by lithium ion and solid-state batteries. The Wallace Battery Cell Innovation Center, which will be located on GM’s technical campus in […]
Read moreOctober 6, 2021 7:25 am
Verizon Communications Inc (VZ) and CareAR announced earlier this week a strategic partnership aimed to transform the service and customer experience delivered by CareAR. A combination of Verizon’s 4G, 5G networks and near real-time computing technology with CareAR’s augmented reality and AI-based platform will enable technicians to remotely and proactively resolve service issues faster and […]
Read moreOctober 5, 2021 9:26 am
The US indices ended its first session for the week on negative territory, dragged down mainly by techs, and other growth-driven stocks, as investors continue divesting in a rising yields’ environment. The Dow, S&P and Nasdaq deleted respectively .94, 1.3 and 2.14 from their market value. The 10 yr and 30 yr Treasuries ended with […]
Read moreOctober 5, 2021 7:23 am
Amazon.com Inc- and Ford Motor Co-backed Rivian Automotive, which at present sources batteries from Samsung SDI, intends to manufacture battery cells of its own, the company’s filing for an initial public offering in the United States showed. “Given the paramount importance and impact of the battery system on vehicle range, performance, and price, we have […]
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