Wall Street Today | GameStop rides meme-stock revival for longest rally since 2010, shares surged 143% during the run
U.S. stock rally, oil slide may give Asia tailwind
A climb in U.S. equities, a slump in crude oil and the prospect of more cease-fire talks between Russia and Ukraine looked set to provide some support for Asian stocks on Tuesday.
Australian shares rose, as did Japan and Hong Kong futures. U.S. contracts were steady after technology firms helped the S&P 500 to rally for a third day.
Fed factory surveys show pickup in inflation expectations
Manufacturers from Texas to the East Coast signal they'll be paying more for raw materials in the next six months, and they also see room to pass some of those costs on to customers.
Survey results from the Federal Reserve Bank of Dallas on Monday showed a net 59.2% of Texas manufacturers in March expect to receive higher prices for their products six months from now.
Higher gasoline prices have U.S. drivers filling up more often
Surging fuel prices haven't discouraged Americans from buying gasoline. Now they are just buying less, but more often.
An average American fills up their car to $27.50 per gas station visit, irrespective of what the price per gallon is, according to an analysis by RBC Capital Markets. As the price increases, $27.50 buys less gasoline than it did before, making customers visit gas stations more frequently.
Brazil's top coffee exporter sees record shipments in 2022
Brazil's largest coffee exporter sees its arabica-bean shipments rising to a record this year as the logistic snarls that hampered flows last year ease.
The coffee cooperative Cooxupe expects its exports to soar 20% to 5.9 million bags in 2022, according to its President Carlos Augusto Rodrigues de Melo. In 2021, exports were steady at 4.9 million bags. With the cooperative's harvest likely to be near the same level this year as last, it plans to raise shipments using stockpiles and coffee purchased outside of the organization.
GameStop rides meme-stock revival for longest rally since 2010
$GameStop(GME.US$ rose for a 10th consecutive session Monday, giving the stock its longest winning streak since April 2010.
The Grapevine, Texas-based video game retailer has surged a staggering 143% during this run, as Wall Street pros and individual investors pile into riskier pockets of the market, spurring a revival in so-called meme stocks. GameStop closed at the highest in roughly four months, while another retail trading favorite, movie theater chain $AMC Entertainment(AMC.US$, soared 45% for its best day since June.
Apple reportedly cuts production of its new iPhone SE by 20%
The company has reportedly asked suppliers to cut production of the iPhone SE, its new $429 budget 5G phone, by about 2 million units to 3 million units, or about 20% of the initial orders, according to the publication. $Apple(AAPL.US$ also reduced orders for AirPods by about 10 million units for full-year 2022, according to the report.
Tesla wants to split its stock so it can pay a stock dividend
$Tesla(TSLA.US$ wants to split its stock so it can pay a stock dividend to shareholders, according to a filing Monday.
The SEC filling said the electric car maker will ask at its annual shareholders meeting "for an increase in the number of authorized shares of common stock ... in order to enable a stock split of the Company's common stock in the form of a stock dividend."
Bill Gates and Blackrock are backing the start-up behind hydropanels that make water out of thin air
Source Global's hydropanels create water out of thin air and bring it where it's most needed. CEO Cody Friesen invented the panels in 2014 at Arizona State University's Ira A. Fulton Schools of Engineering, where he's on the faculty.
Source's hydropanels are installed in 52 countries in 450 separate projects. The company has raised $150 million from investors including Bill Gates'Breakthrough Energy Ventures, $Blackrock(BLK.US$, $Duke Energy(DUK.US$ and the Lightsmith Group.
Source: Bloomberg, CNBC
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moneyworkhard : Most of us waiting for tsla stock split
71085325 moneyworkhard : I'm new to stocks what would this mean for shareholders
琼楼芙蓉 : First, the oil price has plummeted, and then the oil price has risen. Is it falling or rising?
Blesson 71085325 : If it 1:2 split and u own one stock it will become 2 and the price of one stock will half of now
Moomoo Recap US OP 琼楼芙蓉 : hi,
The crude oil, which usually refers to oil future commodity, was down yesterday. While gasoline prices is going up recently in the market. Hope this can help you, thanks.