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$E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ U.S. 10-TEAR TREASURY YIELD TICKS HIGHER AFTER Q4 BORROWING ESTIMATE RISES; LAST AT 1.5768% $Apple (AAPL.US)$ $Tesla (TSLA.US)$ $Goldman Sachs (GS.US)$ $Advanced Micro Devices (AMD.US)$
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Tesla Inc $Tesla (TSLA.US)$ (NASDAQ: TSLA) launched its Non-Tesla Supercharger pilot at 10 Supercharger locations in the Netherlands, reaching over 25,000 Superchargers globally.
Now ten stations are accessible to Dutch Non-Tesla EV drivers via the Tesla app (version 4.2.3 or higher).
Tesla users can plug in and out, while non-Tesla EV drivers will have to indicate on the app when to start and stop the charging session.
The price of electricity will stay the same for Tesla owners, but non-Teslas will incur additional costs. Only EVs with a CCS standard connection will be eligible to participate in the pilot.
The U.S. Tesla Superchargers use a proprietary connector, could sell or offer an adapter at the company’s North America charging locations, should the network open in the U.S.
Tesla could implement dynamic pricing during busy periods. Tesla will add additional countries to the program shortly.
“Our ambition has always been to open the Supercharger network to Non-Tesla electric cars to encourage more drivers to make the switch to electric driving,” Tesla said.
Price Action: TSLA shares traded higher by 7.35% at $1,196.26 on the last check Monday.
Article excerpted from Yahoo.
Now ten stations are accessible to Dutch Non-Tesla EV drivers via the Tesla app (version 4.2.3 or higher).
Tesla users can plug in and out, while non-Tesla EV drivers will have to indicate on the app when to start and stop the charging session.
The price of electricity will stay the same for Tesla owners, but non-Teslas will incur additional costs. Only EVs with a CCS standard connection will be eligible to participate in the pilot.
The U.S. Tesla Superchargers use a proprietary connector, could sell or offer an adapter at the company’s North America charging locations, should the network open in the U.S.
Tesla could implement dynamic pricing during busy periods. Tesla will add additional countries to the program shortly.
“Our ambition has always been to open the Supercharger network to Non-Tesla electric cars to encourage more drivers to make the switch to electric driving,” Tesla said.
Price Action: TSLA shares traded higher by 7.35% at $1,196.26 on the last check Monday.
Article excerpted from Yahoo.
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Asia stocks set to get boost from Japan; Yen slips
Asian stocks looked set to climb early Monday as traders digested the outcome of Japan's election and fresh all-time highs for U.S. shares. The yen weakened and a dollar gauge was steady.
Futures advanced about 1% for Japan, where Prime Minister Fumio Kishida's Liberal Democratic Party preserved its outright majority, avoiding worst-case scenarios suggested by opinion polls. Australian shares pushed higher, while futures for Hong Kong slipped. U.S. contracts rose following records for the S&P 500 and Nasdaq 100 on overall optimism about corporate earnings.
Another stock-market 'melt-up' has begun, Leuthold's Ramsey says
This week, U.S. economic growth came in lower than expected, some high-profile companies posted disappointing earnings results and central banks worldwide took steps toward withdrawing pandemic-era stimulus. Yet stocks are broaching new records and October shaped up to be the best month of the year.
To Wall Street veteran Doug Ramsey, Leuthold Group chief investment officer and co-manager of the Leuthold Core Fund, it looks like the market melt-up has just begun.
Elon Musk wants proof $6 billion can solve world hunger
Elon Musk, the world's richest man, challenged a United Nations official's claim that just a small percentage of his wealth could help solve world hunger.
If the World Food Programme, using transparent and open accounting, "can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell $Tesla (TSLA.US)$ stock right now and do it," Musk wrote in a Twitter post.
Robinhood says dogecoin shrank to 40% of crypto revenue
$Robinhood (HOOD.US)$ said Dogecoin, a virtual token that started out as a joke, comprised 40% of its cryptocurrency transaction revenue in the third quarter.
That's a decline from 62% in the preceding three-month period, according to a filing Friday from the brokerage.
Market's biggest bull sees year-end rally, but warns it's setting up Wall Street for a scare next year
Chris Harvey's reign as the year's biggest bull won't extend into next year.
The Wells Fargo Securities head of equity strategy, whose 2021 S&P 500 target is 4,825, predicts Wall Street will stage a vibrant year-end rally and then see a losing 2022. Harvey contends momentum names, which include banks, will be major drivers into year-end. He calls financials a "stealth leadership play" that will get traction from the Federal Reserve's taper plans.
'Venom 2,' 'No Time to Die' fueled October ticket sales, leading to best box office month of 2021
October had the best ticket sale haul at the domestic box office of any month in 2021, generating $637.9 million in receipts. Many of the films released during the month were slated to open earlier in the year but were postponed due to the pandemic.
$Cinemark (CNK.US)$ said October was the company's highest-grossing box office performance month in the Covid-19 era. Moviegoers ventured out to theaters to see "No Time to Die," "Venom: Let There Be Carnage," "Halloween Kills" and "Dune."
Microsoft passes Apple to become the world's most valuable company
$Microsoft (MSFT.US)$ passed $Apple (AAPL.US)$ in market cap on Friday, making it the world's most valuable public company. The move comes after Apple reported revenue Thursday that fell short of analyst expectations.
Cost of breakfast foods hits 10-year high
The cost of food commodities that make up a typical breakfast has soared to its highest point in a decade under the strain of bad weather and supply-chain crunches, providing another in a long list of upward pressures on global inflation.
The Financial Times breakfast indicator, based on futures prices for coffee, milk, sugar, wheat, oats and orange juice, has shot up 63 per cent since 2019, in a move that has accelerated since this summer.
Source: Bloomberg, CNBC, Financial Times
Asian stocks looked set to climb early Monday as traders digested the outcome of Japan's election and fresh all-time highs for U.S. shares. The yen weakened and a dollar gauge was steady.
Futures advanced about 1% for Japan, where Prime Minister Fumio Kishida's Liberal Democratic Party preserved its outright majority, avoiding worst-case scenarios suggested by opinion polls. Australian shares pushed higher, while futures for Hong Kong slipped. U.S. contracts rose following records for the S&P 500 and Nasdaq 100 on overall optimism about corporate earnings.
Another stock-market 'melt-up' has begun, Leuthold's Ramsey says
This week, U.S. economic growth came in lower than expected, some high-profile companies posted disappointing earnings results and central banks worldwide took steps toward withdrawing pandemic-era stimulus. Yet stocks are broaching new records and October shaped up to be the best month of the year.
To Wall Street veteran Doug Ramsey, Leuthold Group chief investment officer and co-manager of the Leuthold Core Fund, it looks like the market melt-up has just begun.
Elon Musk wants proof $6 billion can solve world hunger
Elon Musk, the world's richest man, challenged a United Nations official's claim that just a small percentage of his wealth could help solve world hunger.
If the World Food Programme, using transparent and open accounting, "can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell $Tesla (TSLA.US)$ stock right now and do it," Musk wrote in a Twitter post.
Robinhood says dogecoin shrank to 40% of crypto revenue
$Robinhood (HOOD.US)$ said Dogecoin, a virtual token that started out as a joke, comprised 40% of its cryptocurrency transaction revenue in the third quarter.
That's a decline from 62% in the preceding three-month period, according to a filing Friday from the brokerage.
Market's biggest bull sees year-end rally, but warns it's setting up Wall Street for a scare next year
Chris Harvey's reign as the year's biggest bull won't extend into next year.
The Wells Fargo Securities head of equity strategy, whose 2021 S&P 500 target is 4,825, predicts Wall Street will stage a vibrant year-end rally and then see a losing 2022. Harvey contends momentum names, which include banks, will be major drivers into year-end. He calls financials a "stealth leadership play" that will get traction from the Federal Reserve's taper plans.
'Venom 2,' 'No Time to Die' fueled October ticket sales, leading to best box office month of 2021
October had the best ticket sale haul at the domestic box office of any month in 2021, generating $637.9 million in receipts. Many of the films released during the month were slated to open earlier in the year but were postponed due to the pandemic.
$Cinemark (CNK.US)$ said October was the company's highest-grossing box office performance month in the Covid-19 era. Moviegoers ventured out to theaters to see "No Time to Die," "Venom: Let There Be Carnage," "Halloween Kills" and "Dune."
Microsoft passes Apple to become the world's most valuable company
$Microsoft (MSFT.US)$ passed $Apple (AAPL.US)$ in market cap on Friday, making it the world's most valuable public company. The move comes after Apple reported revenue Thursday that fell short of analyst expectations.
Cost of breakfast foods hits 10-year high
The cost of food commodities that make up a typical breakfast has soared to its highest point in a decade under the strain of bad weather and supply-chain crunches, providing another in a long list of upward pressures on global inflation.
The Financial Times breakfast indicator, based on futures prices for coffee, milk, sugar, wheat, oats and orange juice, has shot up 63 per cent since 2019, in a move that has accelerated since this summer.
Source: Bloomberg, CNBC, Financial Times
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Weekly market recap
U.S. stock futures rose slightly in overnight trading on Sunday as investors readied for the first trading of November. Market participants are gearing up for another week of corporate earnings, a key Federal Reserve meeting on Wednesday and October’s jobs report.
Stocks closed out the month of October on Friday and all three major averages closed at record highs. The $S&P 500 Index (.SPX.US)$and $Nasdaq Composite Index (.IXIC.US)$clinched their best months since November 2020.
Corporate earnings season dominated October amid solid earnings even with global supply chain concerns. About half of the S&P 500 companies have reported quarterly results and more than 80% of them beat earnings estimates from Wall Street analysts, according to Refinitiv.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
There will be a lot on investors' radar this week, as third-quarter earnings season continues, October jobs numbers come out, and the Federal Reserve's policy committee potentially details its bond purchase reduction plans.
Some 160 S&P 500 companies are scheduled to report, plus dozens of small and mid cap firms.
The main event on the market calendar this week will be the conclusion of the Federal Open Market Committee's October monetary-policy meeting on Wednesday. Officials have strongly signalled that they will announce their plans to begin tapering the central bank's $120 billion in monthly asset purchases at the meeting. Interest-rate increases are still far off.
Monday 11/1
$Arista Networks (ANET.US)$, $Clorox (CLX.US)$, $Franklin Resources (BEN.US)$, $McKesson (MCK.US)$, $NXP Semiconductors (NXPI.US)$, $Public Storage (PSA.US)$, $SBA Communications Corp (SBAC.US)$, and $Simon Property Group Acquisition (SPGS.US)$release quarterly results.
The Census Bureau reports construction spending for September. Consensus estimate is for a 0.4% month-over-month increase to a seasonally adjusted annual rate of $1.59 trillion.
The Institute for Supply Management releases its Manufacturing Purchasing Managers Index for October. Expectations are for a 60.1 reading, slightly less than the September figure.
Tuesday 11/2
$Activision Blizzard (ATVI.US)$, $Amgen (AMGN.US)$, $ConocoPhillips (COP.US)$, $Eaton (ETN.US)$, $Estee Lauder (EL.US)$, $Ferrari (RACE.US)$, $Match group (MTCH.US)$, $Mondelez International (MDLZ.US)$, $Pfizer (PFE.US)$, and $T-Mobile US (TMUS.US)$US report earnings.
It's Election Day in an off-year headlined by gubernatorial contests in New Jersey and Virginia.
Wednesday 11/3
The FOMC announces its monetary-policy decision. The Fed is all but certain to maintain the federal-funds rates near zero and is expected to announce it will begin tapering its $120 billion in monthly asset purchases.
$Coca-Cola (KO.US)$holds a conference call to discuss its ESG initiatives.
$Booking Holdings (BKNG.US)$, $CVS Health (CVS.US)$, $Electronic Arts Inc (EA.US)$, $Emerson Electric (EMR.US)$, $Marriott International (MAR.US)$, $MetLife (MET.US)$, $MGM Resorts International (MGM.US)$, and $Qualcomm (QCOM.US)$announce quarterly results.
ISM releases its Services PMI for October. Economists forecast a 61.5 reading, roughly even with the September number.
ADP releases its National Employment Report for October. Consensus estimate is for private-sector employment to gain 472,500 jobs, after a 568,000 rise in September.
Thursday 11/4
$Airbnb (ABNB.US)$, $Becton, Dickinson and Co (BDXB.US)$, $Expedia (EXPE.US)$, $Illumina (ILMN.US)$, $Kellanova (K.US)$, $Moderna (MRNA.US)$, $NRG Energy (NRG.US)$, $Block (SQ.US)$, $ViacomCBS (VIAC.US)$, $Uber Technologies (UBER.US)$, and $Zoetis (ZTS.US)$hold conference calls to discuss earnings.
Friday 11/5
$Dominion Energy Inc (DCUE.US)$, $DraftKings (DKNG.US)$, and $Sempra Energy (SRE.US)$release quarterly results.
The Bureau of Labor Statistics releases the jobs report for October. Economists forecast a 435,000 gain for nonfarm payrolls and for the unemployment rate to remain unchanged at 4.8%. In September, the economy added 194,000 jobs, about 300,000 short of estimates. Both August and September had large shortfalls compared with expectations, as the labor shortage has persisted longer than many economists expected, despite a near-record level of job openings.
Source: CNBC, Barron's
U.S. stock futures rose slightly in overnight trading on Sunday as investors readied for the first trading of November. Market participants are gearing up for another week of corporate earnings, a key Federal Reserve meeting on Wednesday and October’s jobs report.
Stocks closed out the month of October on Friday and all three major averages closed at record highs. The $S&P 500 Index (.SPX.US)$and $Nasdaq Composite Index (.IXIC.US)$clinched their best months since November 2020.
Corporate earnings season dominated October amid solid earnings even with global supply chain concerns. About half of the S&P 500 companies have reported quarterly results and more than 80% of them beat earnings estimates from Wall Street analysts, according to Refinitiv.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
There will be a lot on investors' radar this week, as third-quarter earnings season continues, October jobs numbers come out, and the Federal Reserve's policy committee potentially details its bond purchase reduction plans.
Some 160 S&P 500 companies are scheduled to report, plus dozens of small and mid cap firms.
The main event on the market calendar this week will be the conclusion of the Federal Open Market Committee's October monetary-policy meeting on Wednesday. Officials have strongly signalled that they will announce their plans to begin tapering the central bank's $120 billion in monthly asset purchases at the meeting. Interest-rate increases are still far off.
Monday 11/1
$Arista Networks (ANET.US)$, $Clorox (CLX.US)$, $Franklin Resources (BEN.US)$, $McKesson (MCK.US)$, $NXP Semiconductors (NXPI.US)$, $Public Storage (PSA.US)$, $SBA Communications Corp (SBAC.US)$, and $Simon Property Group Acquisition (SPGS.US)$release quarterly results.
The Census Bureau reports construction spending for September. Consensus estimate is for a 0.4% month-over-month increase to a seasonally adjusted annual rate of $1.59 trillion.
The Institute for Supply Management releases its Manufacturing Purchasing Managers Index for October. Expectations are for a 60.1 reading, slightly less than the September figure.
Tuesday 11/2
$Activision Blizzard (ATVI.US)$, $Amgen (AMGN.US)$, $ConocoPhillips (COP.US)$, $Eaton (ETN.US)$, $Estee Lauder (EL.US)$, $Ferrari (RACE.US)$, $Match group (MTCH.US)$, $Mondelez International (MDLZ.US)$, $Pfizer (PFE.US)$, and $T-Mobile US (TMUS.US)$US report earnings.
It's Election Day in an off-year headlined by gubernatorial contests in New Jersey and Virginia.
Wednesday 11/3
The FOMC announces its monetary-policy decision. The Fed is all but certain to maintain the federal-funds rates near zero and is expected to announce it will begin tapering its $120 billion in monthly asset purchases.
$Coca-Cola (KO.US)$holds a conference call to discuss its ESG initiatives.
$Booking Holdings (BKNG.US)$, $CVS Health (CVS.US)$, $Electronic Arts Inc (EA.US)$, $Emerson Electric (EMR.US)$, $Marriott International (MAR.US)$, $MetLife (MET.US)$, $MGM Resorts International (MGM.US)$, and $Qualcomm (QCOM.US)$announce quarterly results.
ISM releases its Services PMI for October. Economists forecast a 61.5 reading, roughly even with the September number.
ADP releases its National Employment Report for October. Consensus estimate is for private-sector employment to gain 472,500 jobs, after a 568,000 rise in September.
Thursday 11/4
$Airbnb (ABNB.US)$, $Becton, Dickinson and Co (BDXB.US)$, $Expedia (EXPE.US)$, $Illumina (ILMN.US)$, $Kellanova (K.US)$, $Moderna (MRNA.US)$, $NRG Energy (NRG.US)$, $Block (SQ.US)$, $ViacomCBS (VIAC.US)$, $Uber Technologies (UBER.US)$, and $Zoetis (ZTS.US)$hold conference calls to discuss earnings.
Friday 11/5
$Dominion Energy Inc (DCUE.US)$, $DraftKings (DKNG.US)$, and $Sempra Energy (SRE.US)$release quarterly results.
The Bureau of Labor Statistics releases the jobs report for October. Economists forecast a 435,000 gain for nonfarm payrolls and for the unemployment rate to remain unchanged at 4.8%. In September, the economy added 194,000 jobs, about 300,000 short of estimates. Both August and September had large shortfalls compared with expectations, as the labor shortage has persisted longer than many economists expected, despite a near-record level of job openings.
Source: CNBC, Barron's
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