The Pentagon plans to place up to $2 billion in rush orders by early March for customized semiconductors used in weapons like the B-2 bomber before the shut down of production line, Bloomberg reports. Globalfoundries Inc (GFS) sold the factory in Fishkill, New York, that produced the specialized chips used in GPS-dependent systems to ON…
Dollar Falls From 15-Month High, Central Banks Hold Interest Rates Steady Amidst Rising Inflation
November 8, 2021
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The dollar made a steady start on Monday but fell below the 15-week peak reached after the Nov. 5 release of jobs data, as wary investors remained watchful of the central bank’s continued tolerance of inflation amidst the market’s volatile interest rate projections. Investors are waiting for U.S. Consumer Price Index data due on Wednesday….
Futures Tick Higher After Congress Clears Infrastructure Bill; Tesla Falls
November 8, 2021
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U.S. stock index futures edged higher on Monday as big industrial firms were supported by the passage of a $1 trillion infrastructure bill, while Tesla fell on Chief Executive Elon Musk’s plan to sell about a tenth of his stake. Caterpillar Inc., Boeing Co., and 3M Co. rose between 0.5 percent and 3 percent in…
Dow Hits Record High as Infrastructure Bill Lifts Cyclicals
November 8, 2021
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The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials, and other economy-focused sectors, while Tesla fell on top boss Elon Musk’s plan to sell about a tenth of his stake. Five of the 11 major S&P 500 sector indexes were higher after the Congress…
Asian Markets Lower After Wall Street Record, China Trade Growth
November 8, 2021
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BEIJING—Global stock markets and Wall Street futures declined Monday after stronger U.S. hiring and a double-digit rise in Chinese exports. London and Frankfurt opened lower. Tokyo, Hong Kong, and Sydney declined while Shanghai advanced. U.S. employers hired more people than expected in October, according to government data released on Friday. China’s October exports rose 27.1…
Stock Wars: Starbucks vs. Coffee Holding Co.
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between a pair of coffee-focused companies: Starbucks Corporation and Coffee Holding Co., Inc.. The Case For Starbucks This year marks Starbucks’ 50th anniversary in business. It…
How Tuesday’s Election Results Could Impact the Stock Market Heading Into 2022
With midterm elections one year away, a handful of off-year elections this week provided investors with a potential glimpse at where America could be headed in November 2022. What Happened On Tuesday, Glenn Youngkin became the first Republican elected governor of Virginia in 12 years. Youngkin’s victory was particularly surprising given President Joe Biden won…
EV Week in Review: Tesla Prevails Despite Hertz Deal Haziness, Nio Investors Take Setback in Their Stride, Volkswagen’s Diess Calls for ‘Revolution’ to Take on Competition
Most electric vehicle (EV) stocks advanced in the week ending Nov. 5 amid sector wide optimism. EV market leader Tesla Inc. started the week on a tentative note but picked up momentum over the course of the week. Here are the key events that happened in the EV space during the week: Tesla’s Hertz Deal…
Shiba Inu, Dogecoin Dominate Indian Crypto Market, Emerge as the Most Traded Cryptos
According to a new report, cryptocurrencies Shiba Inu (SHIB) and Dogecoin (DOGE) made up 13.72 percent of the trading volume on crypto exchanges in India. The analysis coming from data collected between April and October. These two coins have risen to rank among the top cryptocurrencies in the market. At the time of publication Dogecoin…
Twitter Users Say ‘Yes’ to Musk’s Proposal to Sell 10 Percent of His Tesla Stock
Tesla Inc. CEO Elon Musk should sell about 10 percent of his Tesla stock, according to 57.9 percent of people who voted on his Twitter poll asking users of the social media network whether he should offload the stake. “I was prepared to accept either outcome,” Musk said, after the voting ended. The world’s richest…
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