Sat, March 02, 2024

News

Duolingo Surges: EPS Up $0.05, Revenue at $150.99M

Quick Look Duolingo’s EPS of $0.26 beats estimates by $0.05. Quarterly revenue hits $150.99 million, outpacing forecasts. The stock price jumps to $230.85 from the previous close of $195.51. Analysts adjust price targets, with a consensus of $218.11. Insider sales reach 136,000 shares over the last 90 days. Institutional ownership stands at 76.93%, with significant …

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Anyone can program with the help of AI

Cognito: $128M Boost in Fight Against Alzheimer’s by 2025

Quick Look Innovative Approach: Utilization of 40-Hz audiovisual stimuli to combat Alzheimer’s by enhancing the brain’s glymphatic clearance. Preclinical Success: MIT studies on mice show a significant reduction in beta-amyloid plaques and tau tangles. Clinical Trials Underway: Cognito Therapeutics leads with a pivotal trial, aiming for FDA submission by 2025. Product Development: Introduction of Spectris …

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natural gas

Record Low Gas Prices Amidst Surging Production

Quick Look Natural gas production has significantly surpassed storage capacity growth over the last decade. Historical lows in prices were observed, with Henry Hub’s daily price averaging $1.50/MMBtu in early February 2024. Record gas production in 2023, amidst one of the warmest winters, led to the lowest prices in decades. Significant market volatility was noted, …

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USD GBP: British pound sterling coins.

GBP/USD Recovers to 1.2635 Amid Global Market Shifts

Quick Look GBP/USD trades around 1.2630-1.2635, recovering from a recent low. Key resistance and support levels were identified, with eyes on 1.2708 and 1.2499, respectively. US economic indicators show mixed signals; inflation is at a three-year low. Federal Reserve and Bank of England maintain a cautious stance on rate cuts. Market sentiment sways towards risk-on, …

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Tractable raises $60M to grow in accident recovery

RT-X: A Leap in Robotics with 50% Performance Boost

Quick Look Initiation of RT-X Project: Launched in 2023, this global collaboration aims to forge a general-purpose robotic brain. The project involves Google, the University of California, Berkeley, and 32 other robotics labs. Core Challenge: Overcoming the generative AI application gap in robotics due to the scarcity of Internet-derived robotic-interaction data. Key Findings: A single …

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China

China’s Economy Hits 30-Year Low, Eyes 5% Growth

Quick Look China’s GDP growth has reached a 30-year low amidst a backdrop of declining birth rates and high youth unemployment. Despite challenges in the financial and property markets, sectors like tourism, electric vehicles, and solar panels show robust growth. The economy expanded by nearly 5% last year, driven by industries outside the troubled housing …

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Canadian Dollar skyrocketed

Sideways USD/CAD Awaits Key 1.3608 Breakout

Quick Look USD/CAD trades sideways around 1.3570 amidst mixed economic signals. Key resistance at 1.3608; breakout could target 1.3655 and 1.3700. The market is eyeing upcoming US Core PCE and Canadian GDP data for directional cues. Lower crude oil prices and recent GDP figures influence market sentiment. Technical indicators suggest upward momentum, with the pair …

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Gold and Metal

Nickel Prices Surge 8.7% Amidst Global Supply Fears

Quick Look LME Nickel prices increased by 0.5% to $17,685 per metric ton, with an 8.7% monthly gain. SHFE May Nickel Contract rose 1.6% to 137,530 yuan ($19,115.46), marking a 7.6% monthly increase. Supply concerns in Indonesia and Russia, alongside speculation of sanctions, have contributed to price volatility. Comparative analysis shows mixed performance across base …

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amazon office

Amazon Joins Dow: A $90.8B AWS Boost & 15.75% Stock Surge

Quick Look Amazon replaced Walgreens Boots Alliance in the Dow Jones Industrial Average, marking significant index reshuffling. This inclusion aligns with Amazon’s stock split, echoing a trend of tech dominance alongside Microsoft and Apple in the Dow. AMZN leads the cloud infrastructure sector with AWS, showcasing robust financial performance with $90.8 billion in revenue. Jeff …

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BYD stops producing full combustion engine cars

$30M DOE Boost for Electric Vehicle Battery Tech & Market Shifts

Quick Look Introduction of smart charging stations with advancements in technology and accessibility. The role of commercial electric vehicle charging in supporting urban development and sustainable travel. Economic and social benefits spurred by the growth of EV charging infrastructure. U.S. DOE invests $30 million in the CIRCULAR program to enhance EV battery technology. Industry challenges …

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European countries vs companies

€18B Boost Amid Bonds in France & Qatar Investment

Quick Look France announces a €8 billion ultralong bond issuance with a maturity date in May 2055, showcasing strong market confidence. Despite high investor demand, French consumer confidence dips further in February, reflecting ongoing economic concerns. Qatar pledges a substantial €10 billion investment in France’s economy, targeting key future-oriented sectors. In a remarkable show of …

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Wibest – Yen exchange rate: USD and JPY bills.

USD/JPY: Inflation Drives to 155.50 Amid Policy Shifts

Quick Look USD/JPY shows a neutral intraday bias with sideways trading, support at 148.79, and a breakpoint at 150.87. The larger trend projection suggests an upward movement towards 155.50 from a base of 140.25. Japanese inflation rate in January hits 2.2%, indicating potential shifts in BoJ’s monetary policy. Upcoming US Q4 GDP and PCE data …

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Copper

Metals: Copper Hits Lowest Charges Since 2013

Quick Look Copper treatment charges in China hit a low of US$19.8/ton, the lowest since 2013, indicating smelting overcapacity. China’s refined metal output reached a record high in December, driven by demand from the green energy sector. Annual contracts for copper treatment are set at US$80/ton for 2024, marking a 9% year-on-year decline. LME copper …

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Wibest – Asian Market: The Nikkei Stock Average with red down arrow.

Nikkei 225 Hits 39,098.68: A 44% Yearly Surge

Quick Look The Nikkei 225 index surpasses its 1989 peak, closing at 39,098.68. Sharp gains in chip-related shares and significant foreign investment drive the index’s rise. Over the past year, the Nikkei has surged by approximately 44%, outperforming many global counterparts. Governance reforms and corporate efficiency measures contribute to market attractiveness. Record stock buybacks and …

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