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Boeing has made a new offer to end the ongoing strike, proposing a 35% pay rise over four years, a $7,000 bonus, and increased pension contributions, but without continuing the old pension plan. Meanwhile, UBS is selling its 50% stake in Swisscard to American Express as part of its portfolio streamlining following the Credit Suisse acquisition. In economic news, the People's Bank of China has unexpectedly cut the Loan Prime Rate to stimulate the slowing economy.
08:53 21.10.2024
Stock markets are showing resilience, with indices gaining over 10% this year, driven by lower interest rates and a strong US economy, despite geopolitical risks like the Ukraine war and tensions in the Middle East. The most significant concern remains the US-China relationship, particularly regarding Taiwan and economic supremacy, though the likelihood of severe escalation is currently low due to their economic interdependence. While geopolitical uncertainties may cause short-term market fluctuations, the overall economic situation in industrialized nations, especially the US, will ultimately dictate stock market trends.
08:45 21.10.2024
The global Healthcare Staffing Market is projected to grow from USD 38.9 billion in 2023 to USD 65.9 billion by 2031, at a CAGR of 6.8%. This growth is driven by changing consumer preferences, technological advancements, and a focus on sustainability, with key players including AMN Healthcare and CHG Healthcare. The market analysis includes factors like Porter's Five Forces and detailed segmentation by service type and end user.
Apple shares reached new all-time highs last week, closing at their highest level ever after breaking above previous resistance levels. For further gains, prices need to surpass USD 237.49, with potential upside to USD 244.51 and USD 250. Conversely, a drop below USD 230 could lead to testing lower support levels.
08:40 21.10.2024
German producer prices are expected to remain in deflation, reinforcing expectations for further ECB rate cuts. In China, the central bank has lowered mortgage reference rates, signaling support for the economy, though concerns about domestic demand persist. Meanwhile, uncertainty surrounds U.S. Federal Reserve policy as the election season intensifies, with economic perceptions diverging from reality.
08:32 21.10.2024
Apple shares reached a new record closing high, following an intraday peak of USD 237.49, but fell back to USD 230. For a bullish outlook, prices need to surpass USD 237.23 and the record high, potentially targeting USD 244.51 and USD 250. Conversely, support is at USD 232.92, with further declines possible if the stock dips below USD 230.
08:23 21.10.2024
UBS is selling its 50% stake in Swisscard to American Express, making Amex the sole owner of the credit card provider. Following this transaction, Credit Suisse customers will transition to UBS's credit card platform, with no immediate impact on cardholders or merchants. UBS remains committed to its credit card business but finds Swisscard's operations misaligned with its strategic priorities.
07:28 21.10.2024
The AUD/USD closed at 0.6706, marking a third consecutive week of declines from a September high of 0.6942, pressured by strong US economic data and revised Fed rate expectations. With Australia's data calendar light, focus shifts to upcoming CPI data, while support remains at 0.6650/25. A sustained break below this level could trigger further declines towards 0.6575/60.
IG
07:04 21.10.2024
IBM has launched Granite 3.0, its third generation of open-source large language models (LLMs) designed for enterprise AI, with a focus on fine-tuning capabilities and safety features. The models, available on platforms like watsonX and Hugging Face, aim to enhance applications in customer service, IT automation, and cybersecurity, leveraging unique data sets for superior performance. With an Apache 2.0 license, IBM promotes flexibility for partners to innovate and build on the technology, paving the way for advancements in generative computing.
Spirit Airlines is grappling with significant financial challenges, including a $1.1 billion debt restructuring and a complete drawdown of its $300 million credit line. The airline has faced repeated losses, a grounded fleet due to engine issues, and a failed merger attempt, leading to a drastic 91% drop in share price. As it navigates these difficulties, Spirit may consider filing for Chapter 11 bankruptcy to restructure its debt while continuing operations, with the coming months critical for its survival in a competitive market.
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