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Deutsche Bank has reduced its 2025 US light vehicle sales forecast by 500,000 to 15.4 million due to impending tariffs affecting auto supply chains and prices. Analysts predict a short-term sales boost as consumers rush to purchase before price hikes, but a significant decline is expected afterward.In the tech sector, Palantir's shares fell amid concerns over government spending cuts, while Moderna's stock dropped 10% following the resignation of the FDA's vaccine chief, raising questions about vaccine safety. Overall, US stocks faced a slump, particularly in consumer discretionary and tech sectors, as fears of an economic slowdown intensified.
Goldman Sachs has lowered its price target for Robinhood from $57 to $53. This adjustment reflects the latest analysis and market conditions affecting the company's valuation.
Analysts at Deutsche Bank predict Tesla's Q1 deliveries will hit 345,000, marking an 11% year-on-year decline and the lowest since 2022, attributed to weakness in Europe and the Model Y changeover. They also noted potential brand damage in Western Europe and parts of North America due to Elon Musk's political activities.In a separate development, Meta is shifting back to its roots by revamping its Friends tab to prioritize posts from users' connections, reminiscent of Starbucks' efforts to return to its original customer experience under new CEO Brian Niccol.
JPMorgan and Walmart have launched embedded finance solutions for online sellers, while Massachusetts' securities regulator is investigating Robinhood's new prediction-markets hub. Secretary of State Bill Galvin expressed concerns over the potential gambling implications of event contracts linked to brokerage accounts, describing them as a gimmick to attract investors. Robinhood maintains that its prediction markets are regulated and aims to provide a safe trading environment for users.
Robinhood shares surged by 8% following the launch of its new betting markets hub. This strategic move marks a significant expansion for the company, aiming to diversify its offerings and attract a broader user base in the competitive financial services landscape.
David Sacks, an adviser to former President Trump on AI and cryptocurrencies, has divested over $200 million in digital assets, including bitcoin and ethereum, ahead of his new role. His firm, Craft Ventures, sold all liquid cryptocurrency holdings and exited investments in Coinbase and Robinhood, while Sacks personally faced significant tax costs. Despite these divestments, he retains interests in some illiquid digital asset firms, as part of a waiver to serve as Trump's AI and crypto adviser.
US stock markets experienced mixed results amid tariff news and rising inflation expectations. The S&P 500 fell by 0.24%, while the Nasdaq 100 rose slightly by 0.06%. Focus this week shifts to the upcoming consumer price index report and Federal Reserve Chair Jerome Powell's testimony, with inflation anticipated to rise.
[Bloomberg]
Freetrade, a UK-based rival to Robinhood, has been acquired by IG Group for £160 million ($195 million), reflecting a 29% discount from its last valuation. This acquisition highlights the rapid growth of the UK stock trading market, which has seen a 10% annual increase, benefiting companies like Robinhood that recently entered the UK market. Following a 322% rally in its share price over the past year, Robinhood has received a Strong Buy consensus rating from analysts, with an average price target of $48.67 per share, indicating further upside potential.
The rise of digital assets has led to a dynamic sector of cryptocurrency stocks, offering regulated access to the crypto boom. Major players like Coinbase and Block are now integral to the market, with share prices often correlating with cryptocurrency values, though volatility presents both opportunities and risks for investors and traders alike. Investors should consider long-term growth versus short-term trading strategies, while employing robust risk management techniques due to the sector's inherent volatility.
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