Shares of BMW fell 7% on Tuesday after the German luxury carmaker issued a sweeping profit warning, citing worsening market conditions in China and the impact of geopolitical tensions in the Middle East.The decline pushed BMW shares to their lowest level since November 2020 and dragged other European automakers lower,…
Tesco’s share price will be in focus as the company publishes its first-quarter trading statement on June 18. The update should provide greater insight into its revenue growth, profitability trends, and market share performance. Tesco shares were trading at 462p on Wednesday, slightly below this week’s high of 476p.Tesco share…
Tesla (TSLA) stock is in focus on Monday after famed investor Anthony Pompliano publicly urged billionaire Elon Musk to merge the EV maker with SpaceX.And while the idea of a multi-trillion-dollar AI and aerospace empire sounds like the ultimate sci-fi bull case, such a merger carries massive structural, operational, and…
US stocks rallied on Monday, with the Dow Jones Industrial Average closing at a record high as investors welcomed news of a preliminary agreement between the United States and Iran and continued to embrace SpaceX following its blockbuster public market debut.The Dow gained 490.38 points, or 0.96%, to close at…
SpaceX’s historic debut on Nasdaq sparked a classic “capital siphon” effect, triggering a sharp sell-off across other space stocks.As billionaire Elon Musk’s rocket company soared past a $2 trillion valuation, institutional and retail investors trimmed their holdings to free up liquidity and initiate positions in SPCX shares.According to KeyBanc’s senior…
The Nikkei 225 Index continued its strong rally this week, even after the Bank of Japan (BoJ) hiked interest rates to the highest point since 1995. It soared to ¥69,245, up by 80% in the last 12 months and by 35% this year.Japan stocks jump after US-Iran dealThe Nikkei 225…
The Hang Seng Index retreated on Tuesday and remained in a correction after China released a weak economic report. It retreated to H$24,507, down by over 12% from the year-to-date high of H$28,050.Hong Kong stocks have largely diverged from their global peers, with the South Korean Kospiand Japan’s Nikkei 225…
Asian stocks struggled for direction on Tuesday as investors moved past the first burst of optimism over a preliminary US-Iran peace deal and turned back to central banks. The region had rallied on Monday after hopes of a reopening of the Strait of Hormuz pushed oil lower and lifted Wall…
While a US–Iran deal to reopen the Strait of Hormuz may ease geopolitical tensions, auto repair shops in Tokyo and dealerships in Detroit are unlikely to see quick relief from shortages of motor oil, paint thinner, and other petroleum‑derived products. Industry executives warn that supply chains remain snarled, and smaller garages…
The DAX Index jumped this week, reaching a high of 25,000, its highest point since June 2nd. This rebound happened as crude oil prices retreated after the US deal with Iran. Still, the index faces a major risk as hedge funds continue shorting German car companies.Hedge funds are shorting German…