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U.S. Oil Inventories Rise Amid Steady Production U.S. oil inventories rose more than expected last week, data released Wednesday by the U.S. Energy Information Administration showed. This could backfire on soaring crude oil prices. NIMEX-DECEMBER OIL CONTRACT FOR DECEMBER DELIVERY LATEST UP 2% TO $82.71 PER barrel, OUT OF EARLY HIGH POINT
Toyota profits double on strong sales and weakening yen Japan's Toyota raised its full-year forecast, reporting a more than doubling in profit last quarter. In the three months to September, the world's largest automaker by sales reported operating profit of 1.4tn ($9.5 billion), up sharply from ￥ of $563 billion a year earlier
Tata Steel pulls announcement on 3,000 job cuts at Welsh factory Uncertainty over the workforce of Britain's biggest steelmaker Tata Steel has been protracted, with Britain's biggest steelmaker Tata Steel making an announcement expected to lay off up to 3,000 employees at its Wales plant in 11 hours. The union had earlier heavily criticized India-based Tata's board for threatening steep job losses as part of its restructuring plan due to be announced Wednesday
Chinese AI scientists call for stronger regulation ahead of landmark summit China's AI scientists join Western-hosted academics to demand tighter controls than Britain, the United States, and the EU have proposed as countries offer competing positions ahead of this week's global AI safety summit
Vodafone to Sell Spanish Unit to Zegona Communications for Around $5.3 Bln Vodafone Group has agreed to sell its Spanish unit to European telecoms investment firm Zegona Communications for a corporate value of 5 billion euros ($5.31 billion).
Tsinghua University in China "Successfully developed AI semiconductors 3,000 times faster than Nvidia" The researchers at Tsinghua University announced that the newly developed semiconductor ACCEL recorded 4.6 petaflops (PFlops), 3,000 times faster than the AI semiconductor A100 that NVIDIA is mass producing. One petaflops is a number that can compute 1,000 trillion cases per second. It claimed that electricity use is 4 million times less than the A100."
Hedge funds increase stock selling position for 12 consecutive weeks, setting record high!
Apple's M3 chip is about 20% faster than the M2, according to Geekbench performance tests.
Based on data from 1950, November and December are the best two-month periods of the year.
➡ ️ FTX and Alameda Research transferred 9 assets worth a total of $46 million to Kraken, Binance and Coinbase in the last 7 hours • • 500K $SOL ($21.6M) • • 14M $MATIC ($9.3M) • • 2,784 $ETH ($5.15M) • • 810K $MASK ($2.51M) • • 2.1M $SUSHI ($2.37M) • • 7.67M $BAT ($1.64M) • • 71.6M $GALA ($1.4M) • • 650K $LDO ($1.22M) • • 4.47M #C98 ($842K)) Overall, FTX And Alameda Transfer $170M Of 30 Assets Since Oct. 26
Toyota cuts EV sales guidance -2023FY (2023.3-2024.3) EV sales guidance reduced by 40% from 202,000 to 123,000 units -Instead, increase hybrid sales
Global Renewable Energy 3x Expansion by 2030 - Goals to reach agreement at UN Climate General Assembly (11.30 - 12.12) -EU, U.S. Signed, More Participating Countries. China, India Participation Will Key to Joint Agreement
Albermale Downs Guidance -Due to weak demand for electric vehicles -Q3 Sales, Profit All Below Conscen - DOWN TO $9.5-9.8 BILLION FROM ANNUAL REVENUE OF $104-$11.5 BILLION - EBITAD downgrades from $3.8-$4.4 billion to $3.2-$3.4 billion - Lithium prices remain at current levels throughout the year - Stocks down 3% during the session, followed by an additional 5% after-hours decline - A different atmosphere from the fact that lithium demand was robust at the second quarter earnings announcement - Shares of Albertmale, the world's largest lithium company, have continued to grow this year, but the stock has plunged 54% over the past year -Albermale's operating margin exceeds 20%, Estimated sales in 2023 are 14 to 15 trillion won, but the PER is only 4 to 5 times Shares of most lithium-related stocks, as well as Albermale, have been falling for more than a year and valuation discounts are spreading It's the top of the value chain for electric vehicles, so we need to make sure that their meaningful turnaround comes first
- Base interest rates remain at 5.25 to 5.50% - Freeze twice in a row following Sept - Economic activity expanded at a strong pace in Q3 - Previously expressed at solid speed - 2-Year, 10-Year Treasury yields fall after FOMC results release - U.S. S&P 500 extends Nasdaq index's gains
UK summit on AI ‘squeezing out’ workers, say labour groups Trade unions and human rights activists accuse the UK government of having too much influence on big tech while 'sweeping' millions of workers at this week's AI summit. "The communities and workers most affected by AI have been sidelined by the summit," said an open letter to Prime Minister Rishi Sunak.
Foreign investors sell Indian stocks at fastest daily pace in a year Global investors sold a net $1.5 billion worth of Indian stocks last Friday alone, marking their single biggest sell-off day since September 2022, as mixed oil prices, higher oil prices and U.S. "higher long-term" interest rates. Global fund's surge in sales comes as inflows into India surged at the start of the year on the back of strong growth as investors exited the sluggish Chinese market
Eurozone Inflation Drops Sharply Amid Energy Deflation, Economic Contraction Consumer prices are slowing more than expected in the eurozone due to falling food and service prices as well as falling energy prices. Europe's consumer price index stood at 2.9% in October, down sharply from 4.3% the previous month and below economists' forecast of 3.3%
U.S. Home Prices Rose to Record in August House prices hit an all-time high in August as market competitiveness was maintained due to lack of sales. The S&P CoreLogic Case-Shiller National Housing Price Index, which measures housing prices across the country, rose 2.6% in August from a year earlier, up 1.0% annually in the previous month. August levels are the highest since 1987 when the index began
BoJ sets stage for end of bond yield controls The Bank of Japan has taken significant steps to end its seven-year long-term interest rate cap policy and sharply raised its inflation outlook, setting the stage for a gradual release of large-scale monetary easing measures. Revised yield curve control policy for second time in three months, almost unanimously passing decision to allow yield on 10-year Japanese government bonds to rise above 1%
Canadian Auto Workers Reach Deal With Stellantis After Brief Strike Canadian auto workers reach tentative deal with Stellantis after brief strike begins at midnight on Monday. The strike by about 8,200 members of Canada's Unipo union continued until hours before the union and the automaker resolved the remaining issues at the negotiating table. The strike threatened to close five Stellantis plants in Canada.
Higher Bond Yields Could End the Fed’s Historic Rate Rises Federal Reserve officials have been saying for more than a year that they may have to keep interest rates higher than investors expected to overcome inflation. The rapid rise in long-term government bond yields, which were 4% in early August, to around 5% suggests that Wall Street is now in line with this. As a result, borrowing costs for U.S. businesses and households are rising in a way that could allow the Fed to halt its historic rate hikes
Crypto Market's Cash Stablecoin Supply Decline Has Stopped For More Than Two Months And Starts Rising A Little * It's been down since the beginning of '22 * To put it simply, the gamblers who left the casino are coming back
U.S. Construction of Largest Offshore Wind Force Finalized - CVOW Project in Virginia -2.6 GW, consisting of 176 14MW turbines -Dominion, a utility company, is a developer, and the final construction approval from the U.S. government has been confirmed, including power sales contracts and supply and demand of equipment - Construction of land site within this year, marine construction will begin next year and final completion by 2026 - U.S. offshore wind power has a pipeline of 70-80 GW despite delayed or canceled projects, and the initial growth phase is underway -CSwind Beneficiary: Acquired Bladt has received orders for three CVOW-bound maritime substations, TP 176 units, a substructure and tower junction structure, and supplied for two years starting next year
✅The ticker for BTCO, a spot Bitcoin (BTC) exchange-traded fund (ETF) of Invesco and Galaxy, appeared on the DTCC website
Omnicom Buys E-Commerce Shop Flywheel Digital for $835 Million Advertising holding company Omnicom says it has agreed to buy Flywheel Digital for a net cash purchase price of about $835 million.Flywheel is the digital commerce arm of Ascential, a British intercompany media, events and analytics company that owns the Cannes Lions Advertising Festival. Flywheel offers services designed for brands to sell on digital marketplaces run by companies including Amazon.com , Walmart and Alibaba
Joe Biden moves to compel tech groups to share AI safety test results Companies that are likely to pose a threat to U.S. national security due to their artificial intelligence models should share how they are preparing for safety in AI control under Joe Biden's sweeping orders for. The order, issued by the U.S. president on Monday, marks the broadest step the administration has ever taken in tackling AI threats, from national security to competition to consumer privacy. The move aims to mobilize agencies across Washington, including the Commerce Department, the Energy Department and the Homeland Security Department
GM, UAW Reach Tentative Labor Deal to End Strike General Motors (GM) reached a new tentative union deal with the UAW on the 21st (local time) to end its six-week strike. The agreement is expected to end a historic strike by the union that sent more than 45,000 workers to picket lines at nine U.S. plants and dozens of parts distribution centers, according to a tentative agreement reached last week with Ford Motor Co. and Chrysler's parent company Stellantis
Broadcom-VMware merger held up as China delays $69bn deal U.S. chipmaker Broadcom and cloud software firm VMware have postponed completing a $69 billion merger that was scheduled to close on Monday, awaiting approval from China. The companies said in a joint statement that "Broadcom's acquisition of VMware will be completed soon, but we maintained our expectations that it will be done no matter what before the merger agreement expires," with a final deadline of November 26
The correlation between BTC and stocks fell below zero for the first time since July, indicating a sharp difference from traditional markets
🇺🇸 World's Biggest Exchange Bitrex Eventually Bankruptcy The forerunner of Upbeat, the father of Alt around the world who was bigger and more active than Binance. stick to the BTC market Beatrex, which eventually disappeared into the back of history Eventually, it goes bankrupt. Make sure you go in and check if you have any assets left. Bitrex Bankruptcy Filing Approved
Japan Indicators Announcement Although it is not a YCC change, it is changed to a stand that responds flexibly according to economic and financial conditions (over 1% allowed) The yen is falling Source #Economy
[WSJ: Higher interest rates could end Fed's historic rate hike] - - Higher Bond Yields Could End the Fed’s Historic Rate Rises (Nick Timiraos) » Here's an article by WSJ reporter Nick Timmeraus, who is known for representing the Fed's opinion. » It said U.S. companies and households' borrowing costs have risen to a level where the Fed can stop raising interest rates as long-term government bond rates rise. It also noted that policy rates will remain frozen as expected by the market. » Meanwhile, the FOMC predicted that the impact of high interest rates on the economy will be discussed as a resilient economy could lead to inflation risks. » It also cited Deutsche Bink's analysis that rising market interest rates will reduce U.S. growth by 0.6% next year (estimated the effect of a three-time 25bp hike), and assessment that the recent rise in Tum Premium could replace the final 25bp hike. » In addition, the four reasons for the recent rise in long-term interest rates were 1) the prospect of prolonged high-interest rates based on a solid economy, 2) negative carry caused by short- and long-term interest rate reversals, 3) worsening supply and demand of long-term government bonds due to concerns over expanding fiscal deficits, and 4) falling investment attractiveness of bonds due to increased inflation volatility.
Flexport Is in Talks to Buy Failed Freight Firm Convoy’s Technology Flexport is reportedly in talks to acquire technology from Conboy, a digital cargo startup. Flexport to bring in a small team of business, product and technology experts from Conboy, which went out of business this month
Sanofi shares fall 19% after cut to profit outlook Sanofi shares fell 19% on Friday after the company lowered its revenue outlook and announced it would spin off its consumer care unit to focus on drug research. Sanofi reaffirmed this year's earnings per share guidance, but expected a drop in single digits in 2024 in part due to increased R&D investment
GM’s Cruise Pauses All Driverless Operations After California Crackdown GM's self-driving car division, Cruise, is suspending all driverless operations across the U.S. after California regulators say vehicles are not safe in public and withdrew the company's self-driving license
EU leaders back using earnings from Russia’s frozen assets to help Ukraine EU leaders backed a plan to use billions of euros in revenues generated from frozen Russian assets to help Ukraine. EU Commission expected to make legal proposal in early December
Exxon, Chevron Profits Surged Ahead of Megadeals Exxon Mobil and Chevron reported combined profits of $15.6 billion as oil prices rose in the third quarter. Exxon's quarterly revenue was $9.1 billion, less than half of its all-time high in the last quarter but up 15% from the previous quarter. Chevron said third-quarter earnings rose 8.5% from the previous quarter to $6.5 billion, down from $11.2 billion in the same period last year
FTX’s Sam Bankman-Fried admits ‘mistakes’ while running crypto empire Sam Bankman-Fried admitted to "making multiple mistakes" while running his cryptocurrency exchange FTX, but denied defrauding customers
Bitcoin has seen its strongest profit realization in the last two years, with a surprising strength above $34,000 in the last five days. The sixth-biggest return of the year, the lighthaser, has barely moved, but in a big way, it's insignificant.
(10/30 Daily Opening Brief) <Global Stock Market Review – Amazon Saves> ■ [US] Dow -1.12%, S&P -0.48%, Nasdaq +0.38%. Despite meeting PCE price expectations, it is mixed, reflecting the rebound in expected inflation from Michigan University and the burden of expanding Israel. ■ [China] Shanghai Composite +0.99%, Shenzhen +2.14%, reflecting plans to issue 1 trillion yuan special government bonds. The issuance will be carried out in the fourth quarter of this year and 500 billion yuan each next year. It is interpreted as a paving stone for achieving a 5% growth target this year and a soft landing of the economy next year. <Global Major Market Issues and Features> ■ [US - IT] AMZN up +6.8%. CEO Andy Jessie Shares Gain On Q4 AWS Solid Demand. He added that the rapid increase in the deployment of AI applications by customers is spurring the development of generative AI applications. ■ [US – IT] INTC up +9.3%. The stock rebounded with favorable Q4 guidance and favorable Q3 performance reflecting the PC market recovery.P.C. Dismissing Concerns Over Recent NVIDIA CPU Development, Markets Pay Attention To AI Chip Meteo Lake Launch Momentum In December.
According to the current Bitcoin options ratio, it implies a bull market. - Because there are more call options than put options #BTC
[Amazon 3Q23: Slightly higher than consensual] (Feat. Big brother when you're in trouble!) ☑ ️ Mega-Techs showed stable overall performance in 3Q23, but most of them mentioned the conservative stance on 4Q23 performance, providing the cause of the market's decline ☑ ️ Amazon also limited its after-hours gains despite solid earnings reports due to concerns over the call, but CEO Andy Jesy's positive comments on AWS in 2024 expanded the gain (Recent increase in demand due to expansion of generational AI investment) ☑The U.S. stock market in ️ also rebounded after hours, overcoming the decline during the day thanks to Amazon's positive concourse atmosphere •Medium: -1.5% •After hours: +1.2% -> +5.0% •EPS : $0.94 vs est. $0.58 •Revenue : : $143.08B vs est. $141.56B +AWS : : $23.06B vs est. $23.13B +Subscription Services : : $10.17B vs est. $10.13B +Online Stores : : $57.27B vs est. $56.82B •Guidance +4Q23 Revenue : : $160.0B ~ $167.0B vs est. $166.57B +4Q23 OP : : $7.0B ~ $11.0B vs est. $8.71B
[meta 3Q23 : Surprise] (feat. Saving money is the best for profit!) •During the day -4.17% / After-hours +3% -> -3% •EPS : $4.39 vs est. $3.60 (3Q22 null.64) •Revenue : $34.15B vs est. $33.51B +Ad : $33.64B vs est. $32.94B •Reality Labs (metaverse) Revenue : $210M vs est. $313.4M OP : $3.74B vs est. $3.94B •Key indicator facebook +MAU : 3.05B +DAU : 2.09B vs est. 2.05B All apps +MAU: 3.96 (about 50 of the world's population)%) •4Q23 Guidance +Revenue : : $36.5B~$40B vs est. $38.76B •Annual guidance +2023 Total Expense : $87B to $89B vs $88B to $91B before +2024 Total Expense : : $94B ~ $99B vs est. $96.53B
Meeting Between Biden, Australian PM Albanese Puts Focus Back on China President Biden is trying to prove he can keep the long-term goal of confronting China in his sights amid the ongoing Israeli-Hamas conflict, including hosting a series of high-level talks at the White House on Wednesday with a spectacular state dinner. White House officials say the two leaders will "share opinions and compare details" on communications with Chinese leaders at the meeting
Japan equity fees top China for the first time since 1999 Japan outperformed China as a driving force for equity commission income for investment banks for the first time in nearly a quarter of a century as global investors shied away from the Chinese market and continued gains on the Tokyo stock market drove the listing. Japan's bank commission contribution so far in 2023 was more than $440 million, about 30% of Asia-Pacific's total, according to data from Dealogic
Apple’s ‘carbon neutral’ claims come under scrutiny Apple has come under scrutiny from European environmental and consumer groups over its claims that its latest devices are "carbon neutral," a term Brussels has proposed banning as "misleading" in corporate marketing. The iPhone maker last month put its "green" certification at the center of its biggest annual product rollout, which has been disputed
GM Reports $3.1 Billion Profit, Despite UAW Strike Hit General Motors GM sees strong third-quarter earnings despite the toll of the United Auto Workers strike, which results in a loss of about $200 million per share
Bitcoin is currently ranked 12th in terms of market capitalization, which is not much different from Tesla, which is ranked 11th in market capitalization.
Gold has fallen 24% since Aug. 10, 2020, when MicroStrategy bought Bitcoin, but Bitcoin is up more than 147%.
3M Says Business Is Improving, Boosts Earnings Guidance 3m raised its earnings forecast after a stronger-than-expected quarter, saying that improved performance and cost control efforts are paying off. The company reported third-quarter adjusted EPS of $2.68, which beat analyst guidance and forecasts from FactSet. Revenue was $8.02 billion, which also exceeded expectations. 3M expects current year-end earnings per share to be between $8.95 and $9.15, up from previous guidance of $8.60 and $9.10