Tag Archives: Story of the Day

Cathie Wood stated that NVDA stock is priced ahead of the curve and trading at 25X expected revenue for this year. Ark Invest‘s Cathie Wood, known for taking bold bets on new-age tech companies, has justified their exit from Nvidia (NASDAQ: NVDA) earlier this year. Last Wednesday, May 24, NVDA stock jumped by more than 20% in a single day moving closer to the $400 level. In her tweets on Monday, May 29, the ARK Innovation ETF (ticker ARKK) manager justified the exit from the stock....

The 2-year and 10-year Treasury yields dropped Tuesday as investors await the legislative voting outcome on the debt ceiling bill.   US Treasury yields slumped today ahead of a Congress on the federal government’s proposed debt ceiling bill. Treasury yields tumbled Tuesday as markets reopened, with investors bracing themselves for a lawmaker vote on the Biden administration’s 11th-hour debt ceiling proposal. Late Sunday, US President Joe Biden and House Speaker Kevin McCarthy struck a...

The ongoing negotiations surrounding the US debt ceiling have been a key focal point for investors as the June 1 deadline approaches. The United States Treasury bond market experienced a decline in yields on Friday as investors eagerly await the release of key inflation data and updates on debt ceiling negotiations. According to reports, the yield on the 10-year Treasury fell by 3 basis points to 3.829%, while the 2-year Treasury yield dropped by nearly 6 basis points to 4.57%. It is...

Nvidia recently increased its quarterly earnings guidance on the back of solid demand, also sparking a rally in AI stocks.  The latest earnings outlook of Nvidia Corporation (NASDAQ: NVDA) has triggered a substantial rally in artificial intelligence (AI) stocks. Early Thursday, the chip maker’s stock soared, pulling other AI-exposed companies higher on a better-than-expected sales forecast. Nvidia’s bullish sales forecast originated from surging demand for its AI chips, which has also...

British inflation has been stubborn forcing the Bank of England to continue its interest rate hikes to 4.5%, for the 12th consecutive time. Economists are expecting further hikes in the upcoming meetings. As per the latest reports, the UK inflation has taken fresh dive under 10% for the last month of April 2023. This happened as the energy price retreated and the impact of Russia’s invasion of Ukraine started to subside on the annual consumer price comparison. Earlier on Wednesday, May...

Given the significance of 5G technology in the advancement of consumer electronics and connectivity, Apple said it is spending tens of billions of dollars to develop this field in the US. Popular US tech giant Apple Inc (NASDAQ: AAPL) said it has signed a multibillion-dollar agreement with Broadcom Inc (NASDAQ: AVGO), a multinational semiconductor and infrastructure software firm to produce 5G components. Through the partnership, Broadcom will develop 5G radio frequency components,...

Per the IMF outlook, resilient demand in the context of declining energy prices can encourage a positive outlook for the UK economy in several ways. The International Monetary Fund (IMF) said it expects the United Kingdom to avoid a recession and maintain positive growth in 2023. According to a CNBC report, the IMF attributes this positive outlook to resilient demand and declining energy prices, which have encouraged economic growth. However, the IMF also characterizes the outlook as...

Previously, one of the simplest ways to access OpenAI’s software on a mobile device was to use Microsoft’s Bing app which offers access to ChatGPT. Now, with the app, using the chatbot will be easier and faster. OpenAI Inc, a research laboratory that focuses on artificial intelligence (AI), has announced the launch of an iOS version of the ChatGPT app. According to the company, later, the app will also be available on Android. It will first be rolled out for users in the US, with more...

Walmart “leveraged expenses and expanded operating margin” in Q1 2023 and now expects a 3.5% increase in consolidated net sales for the year.  Walmart Inc (NYSE: WMT) has raised its 2023 full-year guidance following its stellar Q1 earnings report. On Thursday, the multinational retail corporation reported better-than-expected revenue, which was boosted by grocery and online businesses. For the first quarter of the year, Walmart posted revenue of $152.30 billion compared to the $148.76...

China’s economic outlook also affected the stocks of some of the top companies in the country. China’s economic recovery has been faced with a lot of strain in its attempt to return back to winning ways as marked by growth, however, recent data points that the economy has continued to miss broad expectations. As reported by CNBC, economic data from Reuters proved that the COVID-19 restrictions that were in place for the better part of last year had more impact than previously...