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Electric vehicles (EVs) have been on the roads for the better part of two decades now, in slowly increasing numbers. The technology isn’t new – EVs were part of the initial wave of automotive technology over a century ago – but modern metallurgy, batteries, and drive trains have made them more practical. While the internal combustion engine still offers an overall better package of performance, power, and price, EVs are catching up. They are getting a boost from the government, in the… Source link

Stocks fell Monday, losing some steam after rising to all-time highs late last week. Commodity prices tumbled as concerns over the coronavirus’s spread resurged, with crude oil prices moving sharply to the downside. The S&P 500 fell as shares of oil companies including Occidental Petroleum (OXY), Apache Corporation (APA) and Diamondback Energy (FANG) dropped. The Dow also dipped, weighed down by a decline in shares of Chevron (CVX).  U.S. West Texas intermediate crude oil futures (CL=F)… Source link

Stubbornly hot inflation will be unkind to the bottom line of Dollar Tree, warns Deutsche Bank.  Deutsche Bank analyst Krisztina Katai downgraded her rating on the dollar store to Hold from Buy on Monday, and slashed the price target to $102 from $129.  “We now see more balanced risk/reward, especially with renewed concerns around building inflationary pressures. We remain long-term believers in Dollar Tree’s story including the ongoing turnaround at Family Dollar, however, we are… Source link

Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 900 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile failures like hedge funds’ 2018 losses in Facebook and Apple. Let’s take a closer look at what the funds we track think about Apple Inc…. Source link

Goldman Sachs sees the U.S. labor market maintaining its momentum well into 2022.  Economists at the firm led by Jan Hatzius lowered their year-end 2021 unemployment rate forecast slightly to 4.1% on Monday. For 2022, Hatzius and his team projects a 3.5% unemployment rate. If achieved, the unemployment rate would be at a 50-year low as the economy powers back from the COVID-19 pandemic.  Employment at those levels in 2022 would bring the economy to full employment, Hatzius says.  “We expect… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, August 9, 2021 Berkshire Hathaway’s own shares were Berkshire’s big buy in the second quarter Berkshire Hathaway (BRK-A, BRK-B) released its quarterly results on Saturday morning.  Total revenue for the conglomerate hit $69.1 billion in the second quarter while earnings per share came in at $18,488 per Class A share.  But as has been the… Source link

(Bloomberg) — Alibaba Group Holding Ltd. has fired a manager accused of rape, moving to contain the fallout after an employee’s account of her ordeal went viral on social media and ignited fierce debate about rampant sexism across China’s tech industry. The Chinese internet giant didn’t identify the manager. Li Yonghe, appointed just last month to lead a newly created division overseeing much of Alibaba’s non-retail businesses from food delivery to travel, has resigned alongside his… Source link

(Bloomberg) — Stocks were steady with U.S. futures on Monday, while commodities slumped as investors weighed concerns about a pullback in stimulus and a resurgence in the fast-spreading delta virus variant. The Stoxx 600 Index opened little changed as gains in technology firms offset declines in energy shares and miners. Crude oil extended last week’s decline — its worst since October — on concern the delta virus strain will hamper demand growth. Precious metals sold off, with gold… Source link

Bitcoin, the world’s oldest crypto, reached its highest point in almost three months on Saturday before paring back some of the weekend’s gains. Prices have since cooled and are down around 1.5% on a 24-hour basis after reaching a top of $45,300, their highest point since May 18. As of press time, bitcoin is changing hands for around $43,430. Datamish data shows bitcoin’s push to higher price highs (HH) and higher price lows (HL) was precipitated by a short squeeze which saw 126 BTC… Source link

(Bloomberg) — Gold extended its slump, and silver tumbled, after a stronger-than-expected U.S. jobs report fueled bets that the Federal Reserve may start paring back its massive monetary stimulus soon. Spot bullion fell more than 4% and silver slumped as much as 7% as the selloff following Friday’s employment figures initially accelerated at the start of Asian trading. Dallas Fed President Robert Kaplan said the central bank should start tapering its asset purchases sooner rather than… Source link