{ }
Symbol TSLA
Name Tesla, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Automobiles & Components
Industry Automobiles
Market NASDAQ Global Select
Country United States
State CA
City Palo Alto
Zipcode 94304
Website http://www.tesla.com
US stocks rose on Monday, with the S&P 500 gaining 0.5% and the Nasdaq Composite up 1.2%, nearing a record close as Bitcoin hit an all-time high above $107,000. Investors are focused on the Federal Reserve's upcoming interest rate decision, with a 97% probability of a 25 basis point cut anticipated. Meanwhile, China's retail sales missed forecasts, impacting oil prices, which saw Brent dip to near $74 a barrel.
Super Micro Computer's stock fell nearly 5% amid concerns of potential delisting from the Nasdaq, following a series of financial reporting issues and the resignation of its accounting firm, Ernst & Young. The company is seeking to raise capital through equity and debt to stabilize its finances. Despite recent declines, the stock is still up about 23% this year.
The Nasdaq reached a record high of 20,173.74, climbing 1.1% as tech stocks thrived ahead of the Federal Reserve's policy meeting. Broadcom surged over 10% following strong earnings, while Tesla hit a new record, boosting its market cap to approximately $1.45 trillion. In contrast, Ford fell 4% after a downgrade, and Honeywell rose over 3% amid plans to spin off its aerospace division. The Fed is expected to cut rates by 100 bps in 2024, with a focus on future easing amid persistent inflation and a resilient labor market.
US stocks rose on Monday, with the S&P 500 gaining 0.4% and the Nasdaq Composite nearing record highs, driven by strong performances from Alphabet and Tesla. Bitcoin surged to an all-time high above $107,000 as investors anticipate the Federal Reserve's interest rate decision later this week, with a 97% probability of a 25 basis point cut. Meanwhile, Super Micro Computer's shares fell over 6% as it prepares to exit the Nasdaq 100.
Stock futures are set to rise as investors brace for the Federal Reserve's upcoming interest rate decision, with the Dow Jones and S&P 500 up 0.2% and 0.3%, respectively. Bitcoin reached a record high of around $104,000, buoyed by optimism surrounding the new administration. Major tech stocks showed gains, while Super Micro Computer faced a 12% drop ahead of its removal from the Nasdaq 100.
The Financial Accounting Standards Board (FASB) has introduced a new fair value accounting standard for Bitcoin, effective after December 15, 2024, allowing companies to update Bitcoin values on their balance sheets to reflect current market prices. This change aims to provide a clearer financial picture by recognizing both gains and losses, potentially encouraging more corporations to adopt Bitcoin as a treasury reserve asset. Major holders like MicroStrategy and Tesla stand to benefit from simplified reporting, which could enhance the perception of their digital asset strategies and drive further corporate adoption.
The Financial Accounting Standards Board (FASB) has adopted Fair Value Accounting for Bitcoin, effective for fiscal years starting after December 15, 2024. This new rule mandates that companies report Bitcoin at current market prices, enhancing transparency and potentially encouraging its use as a treasury reserve asset.Large corporations like MicroStrategy and Tesla will benefit from simplified financial reporting, allowing them to recognize both gains and losses from Bitcoin holdings. This regulatory change is seen as a catalyst for increased institutional confidence in Bitcoin, with potential implications for its market value.
Swiss Life Asset Managers has significantly expanded its asset management capabilities, managing CHF 262 billion, with CHF 117 billion from third-party clients, positioning itself as a top player in Switzerland. The firm focuses on stable income-generating investments in real estate, infrastructure, and securities, while leveraging unique market opportunities and maintaining strong client relationships. With a strategic emphasis on organic growth and sustainable investments, Swiss Life aims to enhance its portfolio amidst a competitive landscape.
The Financial Accounting Standards Board (FASB) has implemented new fair value accounting rules for Bitcoin and other eligible crypto assets, allowing companies to measure these assets at current market prices in their financial statements. This change is expected to enhance transparency and accuracy in corporate reporting, facilitating better assessment of risks and performance for investors and stakeholders. However, non-fungible tokens (NFTs) remain exempt from these rules due to their unique characteristics and valuation challenges.
BlackRock's head of ETFs, Jay Jacobs, emphasizes that demand for Bitcoin and Ethereum ETFs is just beginning, with only a small fraction of clients currently invested. The iShares Bitcoin Trust ETF (IBIT) has $54.38 billion in net assets, while the iShares Ethereum Trust ETF (ETHA) holds about $3.84 billion. As interest grows, Bitcoin is increasingly linked to various options strategies, indicating a trend towards more complex investment products.
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