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Elon Musk has sold Twitter, now known as X, to his AI company xAI in an all-stock deal valuing X at $33 billion, significantly lower than the $44 billion he initially paid. The merger, which values xAI at $80 billion, integrates Grok, xAI's AI technology, into the platform, despite concerns over its valuation amid competition from open-source alternatives. Investors from the original Twitter deal are left with a smaller stake in the combined entity.
Goldman Sachs has revised its forecast for a rate cut by the Reserve Bank of Australia, moving it from April 1 to May 20. All 39 economists surveyed by Reuters anticipate that the cash rate will remain unchanged at 4.10% during the upcoming meeting on April 1.
Deutsche Bank warns of a significant risk to the US dollar's dominance, citing concerns over the reliability of dollar swap lines during market stress. As European Central Bank officials question their dependence on these lines, the potential for de-dollarization grows, particularly among major economic rivals like China and Russia. This uncertainty could lead to reduced foreign ownership of US assets and a weakening of the dollar's role globally, coinciding with a surge in gold prices.
Barclays' month-end model indicates strong dollar demand against major currencies, while its quarter-end model suggests moderate dollar strength as Q1 concludes. The dollar has shown notable performance against the euro, rising nearly 4% over the month. Additionally, Deutsche Bank anticipates continued dollar demand at month-end.
Goldman Sachs maintains a positive outlook on Chinese equities, anticipating further gains driven by improving fundamentals. However, the firm warns that the recent rally may face challenges due to potential profit-taking and the resurgence of U.S.-China policy and geopolitical risks. China's stock market has rebounded significantly from multi-year lows, supported by favorable economic data and increased foreign investment.
Goldman Sachs has revised its forecast for global AI server shipments, anticipating a slowdown in market growth due to product transition challenges, supply and demand uncertainties, and rising production complexities. The new projections for 2025 and 2026 have been adjusted to 19,000 and 57,000 units, respectively, down from 31,000 and 66,000 units. Additionally, the firm has lowered target prices for several Taiwan-based companies within the AI server supply chain.
UBS strategist Bhanu Baweja warns that the S&P 500 could decline to 5,300 points, an 8% drop, due to signs of consumer fatigue impacting spending, employment, and confidence. This forecast comes amid downgrades in earnings expectations and concerns over new tariffs and economic momentum. The outlook reflects a growing disconnect between market optimism and weakening economic fundamentals.
Goldman Sachs warns that markets may be overly optimistic about upcoming tariff measures, predicting that initial rates could be significantly higher than the anticipated 9%. The investment bank emphasizes that tariffs remain a crucial bargaining tool for the Trump administration, suggesting a potential shock for investors.
As April 2 approaches, uncertainty looms over potential tariffs, with reports suggesting a two-step approach from Trump involving emergency powers and Section 338 tariffs, particularly affecting autos. Goldman Sachs warns that initial tariffs could be set high for negotiation leverage, predicting a 9% reciprocal tariff rate in April, but anticipates the actual rate could be double that, potentially leading to negative market surprises.
Goldman Sachs warns that declining oil prices could significantly hinder non-OPEC+ production growth. A $10 drop in Brent crude prices above $70 may reduce output growth by 0.3 mb/d, while prices between $50 and $70 could see a reduction of up to 0.65 mb/d. This trend highlights the economic pressures on higher-cost producers, particularly in U.S. shale, as recession risks loom and spare capacity remains elevated.
Greg Rubini
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Elon Musk merges Twitter with xAI in significant all-stock transaction
22:35 28.03.2025
goldman sachs revises rba rate cut forecast to may 20
03:02 28.03.2025
de-dollarisation risks rise as central banks question us dollar swap lines
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19:27 27.03.2025
dollar demand surges as month-end and quarter-end approaches
05:43 27.03.2025
Goldman Sachs optimistic on China stocks despite near-term challenges
02:18 27.03.2025
Goldman Sachs cuts AI server shipment forecasts and target prices for suppliers
04:10 26.03.2025
ubs forecasts s and p 500 drop to 5300 amid consumer fatigue
21:37 25.03.2025
Goldman Sachs warns of potential tariff shock amid trade negotiations
21:23 25.03.2025
goldman sachs warns of potential tariff surprises amid trade negotiations
14:47 25.03.2025
falling oil prices may hinder non OPEC production growth says Goldman Sachs
21:42 24.03.2025
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