Oil prices stabilized after a midweek decline, with West Texas Intermediate rising above $71 a barrel and Brent near $75. The drop was influenced by a report indicating a more than 5 million barrel increase in US crude inventories, while traders remain focused on Middle East tensions and market supply outlooks for 2025.
Tesla's share price remains volatile around earnings announcements, influenced by price cuts, profit margin concerns, and product developments like the Cybertruck. Alphabet is set to report earnings, aiming for revenue growth despite historical underperformance, while Bitcoin's recent price surge is driven by speculation and the upcoming US election, testing key resistance levels.
IG
01:26 24.10.2024
International tourism is nearing pre-pandemic levels, with a reported 790 million travelers in the first seven months of 2024, just 4% below 2019 figures. However, major travel firms like Corporate Travel Management and Flight Centre are facing financial challenges, leading to significant share price declines. In contrast, Qantas shows a positive outlook, with analysts maintaining a "Buy" rating despite potential legal issues.
IG
01:19 24.10.2024
Bernstein has identified its top European stock picks, highlighting four stocks that are projected to have over 50% upside potential. This strategic selection reflects the firm's confidence in the growth opportunities within the European market.
SK Hynix Inc. achieved a record quarterly profit of 7.03 trillion won ($5.1 billion) in the September quarter, surpassing projections of 6.9 trillion won. Revenue surged 94% to 17.6 trillion won, slightly below the expected 18.2 trillion won, driven by strong demand for memory chips linked to AI development with Nvidia Corp. processors.
Jim Cramer believes Boeing is a buy despite a $6 billion third-quarter loss, citing limited competition in aircraft manufacturing. He suggests that once the machinists' strike ends and the company raises cash, Boeing could return to profitability, given the high demand for planes. Cramer advises waiting for a secondary offering to secure the best buying opportunity.
A new Bill introduced in Parliament aims to harness data to boost the UK economy by £10 billion and improve public services. Key measures include reducing bureaucracy for police and NHS staff, enabling electronic registration of births and deaths, and enhancing online identity verification, all while ensuring robust data protection. The legislation is expected to free up millions of hours for frontline workers, ultimately making daily tasks easier for citizens.
South Korea's economy recorded a modest growth of 0.1% in the third quarter, following a 0.2% contraction in the previous quarter. This growth fell short of economists' expectations of a 0.4% increase, highlighting concerns over a weakening export rally and rising geopolitical tensions.
Kai Yu, a former computer science Ph.D. student at the University of Munich, is set to join the ranks of the world's wealthiest following the successful IPO of his company, Horizon Robotics Inc., in Hong Kong. The offering raised HK$5.4 billion ($695 million), boosting his fortune to approximately $890 million, according to the Bloomberg Billionaires Index.
Elon Musk has expressed intentions to advocate for streamlined regulations on fully autonomous vehicles if given a role in the US government. During Tesla's third-quarter earnings call, he emphasized the need for national rules that would permit self-driving cars without traditional controls, addressing current regulatory challenges for vehicles like the Cybercab.
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