Morning Report: Powell's determination may waver, but price statistics reinforce the theory of prolonged high interest rates. US activist Elliott invests billions of yen in Sumitomo Corporation.
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Here are the key points of the early morning news today.
Tokyo stock market expectation range: Domestic market closed for Showa Day.
US activist Elliott invests billions of yen in Sumitomo Corporation.
There is a risk that Chairman Powell's determination may waver, while price statistics reinforce the theory of prolonged high interest rates in gold.
The sudden development of the market that even confuses Wall Street professionals, an important lesson in humility is necessary.
Tesla to invest 1.5 trillion yen in strengthening AI development, focusing on self-driving cars.
- moomoo news Evelyn
Market Overview
In the U.S. stock market on the 26th, the NY Dow Jones Industrial Average rebounded for the first time in 3 days, closing 153.86 points higher at 0.03 million8239 dollars and 66 cents compared to the previous trading day. The Nasdaq Composite Index closed 316.14 points higher at 0.01 million5927.90. The Tokyo stock market was closed on the 29th for Shōwa Day.
Top news of individual stocks
The sudden market development that even confuses Wall Street professionals, an important lesson in the necessity of humility.
Bill Gross, who felt that the market's optimism is fading as the US economic indicators show an increase in inflation and growth slowdown, pointed out that it is time to move away from major technology companies, known as the so-called 'Magnificent Seven' stocks.
There is a concern that the determination of Chairman Powell may waver, as inflation statistics reinforce the theory of prolonged high interest rates.
The message communicated by Chair Powell of the Federal Reserve Board (FRB) last week, stating that high interest rates will continue for the time being, was reinforced by the latest inflation statistics released on the 26th. The Personal Consumption Expenditures (PCE) core price index, which the FRB focuses on, rose by 0.3% month-on-month in March. It increased by 2.8% compared to the same month last year.
Related Articles
Chairman Powell of the FRB is maintaining the course of 'higher for longer' this week - Macro
US activist investor Elliott has invested hundreds of billions of yen in Sumitomo Corporation - Sources
Elliott Management, a US hedge fund management company known as an activist investor, has revealed that it has invested hundreds of billions of yen in a comprehensive trading company's stock. $Sumitomo (8053.JP)$It has been revealed that Elliott Management, a US hedge fund management company known for activist investing, has made an investment of hundreds of billions of yen in the shares of a trading company. A source familiar with the situation disclosed this anonymously, citing that it is confidential information.
Tesla to invest 1.5 trillion yen in strengthening AI development, focusing on self-driving cars.
USA $Tesla (TSLA.US)$On the 28th, announced plans to invest $10 billion (approximately 1 trillion 580 billion yen) in AI development for self-driving cars and other purposes in 2024. On the same day, Elon Musk, CEO, made the announcement on his own X (formerly Twitter). As electric vehicle (EV) sales slow down, they will significantly increase investment in AI-related ventures as the next pillar.
Google and Microsoft to ease AI investment burden.
The competition surrounding artificial intelligence (AI) requires increasingly large amounts of funding to continue. Recent earnings reports from U.S. technology giants Google and Microsoft have shown that they are able to somewhat alleviate this burden. $Alphabet-A (GOOGL.US)$Google and $Microsoft (MSFT.US)$both recent earnings reports indicate that they are able to somewhat reduce this burden.
Tokyo Stock Market Outlook
The domestic market is closed for Showa Day.
foreign exchange
Tokyo stock market expectation range: Domestic market closed for Showa Day.
US activist Elliott invests billions of yen in Sumitomo Corporation.
There is a risk that Chairman Powell's determination may waver, while price statistics reinforce the theory of prolonged high interest rates in gold.
The sudden development of the market that even confuses Wall Street professionals, an important lesson in humility is necessary.
Tesla to invest 1.5 trillion yen in strengthening AI development, focusing on self-driving cars.
- moomoo news Evelyn
Market Overview
In the U.S. stock market on the 26th, the NY Dow Jones Industrial Average rebounded for the first time in 3 days, closing 153.86 points higher at 0.03 million8239 dollars and 66 cents compared to the previous trading day. The Nasdaq Composite Index closed 316.14 points higher at 0.01 million5927.90. The Tokyo stock market was closed on the 29th for Shōwa Day.
Top news of individual stocks
The sudden market development that even confuses Wall Street professionals, an important lesson in the necessity of humility.
Bill Gross, who felt that the market's optimism is fading as the US economic indicators show an increase in inflation and growth slowdown, pointed out that it is time to move away from major technology companies, known as the so-called 'Magnificent Seven' stocks.
There is a concern that the determination of Chairman Powell may waver, as inflation statistics reinforce the theory of prolonged high interest rates.
The message communicated by Chair Powell of the Federal Reserve Board (FRB) last week, stating that high interest rates will continue for the time being, was reinforced by the latest inflation statistics released on the 26th. The Personal Consumption Expenditures (PCE) core price index, which the FRB focuses on, rose by 0.3% month-on-month in March. It increased by 2.8% compared to the same month last year.
Related Articles
Chairman Powell of the FRB is maintaining the course of 'higher for longer' this week - Macro
US activist investor Elliott has invested hundreds of billions of yen in Sumitomo Corporation - Sources
Elliott Management, a US hedge fund management company known as an activist investor, has revealed that it has invested hundreds of billions of yen in a comprehensive trading company's stock. $Sumitomo (8053.JP)$It has been revealed that Elliott Management, a US hedge fund management company known for activist investing, has made an investment of hundreds of billions of yen in the shares of a trading company. A source familiar with the situation disclosed this anonymously, citing that it is confidential information.
Tesla to invest 1.5 trillion yen in strengthening AI development, focusing on self-driving cars.
USA $Tesla (TSLA.US)$On the 28th, announced plans to invest $10 billion (approximately 1 trillion 580 billion yen) in AI development for self-driving cars and other purposes in 2024. On the same day, Elon Musk, CEO, made the announcement on his own X (formerly Twitter). As electric vehicle (EV) sales slow down, they will significantly increase investment in AI-related ventures as the next pillar.
Google and Microsoft to ease AI investment burden.
The competition surrounding artificial intelligence (AI) requires increasingly large amounts of funding to continue. Recent earnings reports from U.S. technology giants Google and Microsoft have shown that they are able to somewhat alleviate this burden. $Alphabet-A (GOOGL.US)$Google and $Microsoft (MSFT.US)$both recent earnings reports indicate that they are able to somewhat reduce this burden.
Tokyo Stock Market Outlook
The domestic market is closed for Showa Day.
foreign exchange
Key Market Events
Source: Dow Jones, Bloomberg, Nikkei Business Daily
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