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(Bloomberg) — US President Donald Trump said he would look to counter China’s economic advantage from coal-based electricity by authorizing his administration to ramp up production of power from the fossil fuel. Most Read from Bloomberg “I am authorizing my Administration to immediately begin producing Energy with BEAUTIFUL, CLEAN COAL,” Trump wrote in a social media post. It’s not clear what Trump was referring to or how his social media decree would affect US policy. Trump already signed an executive order declaring a national energy emergency and directed the Environmental Protection Agency to boost fossil fuel production and distribution. Coal…
Short sellers have made a $16.2 billion profit betting against Tesla (NASDAQ:TSLA) as the company’s stock has lost half its value in the last three months, according to Financial Times, citing S3 Partners. Tesla has long been a tough stock to short, but recent challengesincluding falling demand in China and Europe, intensifying competition, and pricing pressureshave reversed the trend. Shares slid another 5% Monday and were down 3% in premarket trading Tuesday. The latest hit comes as Tesla ramps up incentives in China, offering free trials of its Full Self-Driving (FSD) software and extending zero-interest credit deals after slashing Model…
(Bloomberg) — Oil held steady as broader market weakness and concerns about a global glut of crude undercut gains from escalating tensions in the Middle East. Most Read from Bloomberg West Texas Intermediate edged up near $68 a barrel, while Brent topped $71. Israel conducted military strikes across Gaza, shattering a ceasefire with Hamas, while the US increases pressure on Iran. Capping oil’s advance, US equities slid and the dollar strengthened, making commodities priced in the currency less attractive. “Crude has been pricing in only a minimal geopolitical risk premium as tensions between Israel and Hamas resurface,” said Rebecca Babin,…
Recently we took a detailed look at the Top 10 Trending Stocks and Broadcom Inc. (NASDAQ:AVGO) was one of the stocks that were highlighted in that article. The volatile tariff policies of the new US administration and a slowdown in AI-related enthusiasm took a toll on the market over the past few weeks. However, some analysts believe a rebound is due. Fundstrat’s Tom Lee said in a latest program on CNBC that he believes the US stock market will begin to recover starting April 2. Here is how Lee explained the reasons behind his positive outlook: “When markets fall this quickly…
(Bloomberg) — Grab Holdings Ltd. is moving forward with its attempt to take over GoTo Group, according to people familiar with the matter, who said the Singaporean ride and delivery firm has begun due diligence on its Indonesian rival. Most Read from Bloomberg Grab has been evaluating GoTo’s accounts, contracts and operations, the people said, asking not to be identified because the companies haven’t announced a deal. Grab, GoTo and their shareholders have also been assessing the potential structure and value of an agreement, the people said. Talks are ongoing and may not lead to a transaction, the people said.…
(Bloomberg) — Gold rose to a record high above $3,030 an ounce as an escalation in Middle East tensions underscored its haven appeal, and investors weighed data that fueled concern the US economy is slowing down. Most Read from Bloomberg Bullion climbed as much as 1.3% as Israel launched airstrikes across Gaza that Hamas said killed hundreds of people, shattering a nearly two-month ceasefire. Traders were also digesting recent US economic data that showed consumer apprehension about the impact from President Donald Trump’s tariff measures. They’ll be on the lookout for interest-rate cues from the Federal Open Market Committee meeting…
Swedish mining company Boliden has inaugurated the expanded Odda zinc smelter in Norway, a century after the region’s initial zinc production, driven by the region’s hydropower development. The company has labelled the facility the “world’s most climate-efficient” zinc smelter, aiming to nearly double its production capacity. Boliden’s investments in the Odda facility will increase the smelter’s production capacity to 350,000 tonnes per annum (tpa) from 200,000tpa previously. This expansion not only enhances production but also allows for the extraction of additional metals from the raw material, thereby reducing waste. The plant’s efficiency is highlighted by its capacity to produce 1,000…
(Bloomberg) — Heavy selling resumed in Wall Street’s largest technology companies, with American shares snapping a two-day rebound amid signs investors are paring exposure in US risk assets. European stocks gained. Most Read from Bloomberg One day before a Federal Reserve decision that will be parsed for an assessment on how President Donald Trump’s trade policies are affecting the economy, US equities slid, with megacaps hitting the lowest since September. Nvidia Corp. fell 3% despite plans to develop 6G networks and work with General Motors Co. on self-driving cars. Data showing hot import prices didn’t help market sentiment either. Treasuries…
(Bloomberg) — Heavy selling resumed in Wall Street’s largest technology companies, with American shares snapping a two-day rebound amid signs investors are paring exposure in US risk assets. European stocks gained. Most Read from Bloomberg One day before a Federal Reserve decision that will be parsed for an assessment on how President Donald Trump’s trade policies are affecting the economy, US equities slid, with megacaps hitting the lowest since September. Nvidia Corp. fell 3% despite plans to develop 6G networks and work with General Motors Co. on self-driving cars. Data showing hot import prices didn’t help market sentiment either. Treasuries…
Recently we took a detailed look at the Top 10 Trending Stocks and Apple Inc. (NASDAQ:AAPL) was one of the stocks that were highlighted in that article. The volatile tariff policies of the new US administration and a slowdown in AI-related enthusiasm took a toll on the market over the past few weeks. However, some analysts believe a rebound is due. Fundstrat’s Tom Lee said in a latest program on CNBC that he believes the US stock market will begin to recover starting April 2. Here is how Lee explained the reasons behind his positive outlook: “When markets fall this quickly…