Here are the key news, trends and analyzes that investors need to start their trading day:
1. Wall Street looks higher, one day after inflation-driven sales
A trader works on the floor of the New York Stock Exchange (NYSE) on November 5, 2021 in New York City.
Spencer Platt | Getty pictures
Dow futures jumped on Thursday despite the decline in the Dow stock before the market on disappointing quarterly results. Wall Street fell on Wednesday after the October consumer price index showed the largest annual jump in more than 30 years, triggering a rise in the 1[ads1]0-year government interest rate to 1.57%. US bond trading is closed Thursday for Veterans Day. The Dow Jones Industrial Average and the S&P 500 lost less than 1% on Wednesday. In technology-driven sales, the Nasdaq performed much worse, losing 1.7%. All three stock references recently registered a number of record bars, the most recent being Monday. Bitcoin reached another record high on Wednesday, close to 69,000 dollars, before pairing the winnings. On Thursday, it was down, but traded above $ 65,000.
2. Disney missed numbers across the board, power growth slowed
In this photo illustration, a close-up of a hand holding a TV remote control is seen in front of the Disney + logo.
Thiago Prudencio | SUPPE Pictures | LightRocket | Getty pictures
Shares of Disney fell 5% in Thursday’s advance market, the morning after the entertainment giant reported adjusted earnings of 37 cents per share of $ 18.53 billion in fourth-quarter revenue. Both measures did not meet expectations. Wall Street was more bullish than Disney on earnings, expecting a total of 125.4 million Disney + subscribers at the end of the fourth quarter. The company fell short and added 2.1 million Disney + subscribers for a total of 118.1 million. In total, Disney reported 179 million subscriptions across Disney +, ESPN + and Hulu by the end of the fourth quarter. That is 50 percent higher than last year.
3. Elon Musk sells around $ 5 billion in Tesla shares, shares are popping up
Elon Musk sold nearly $ 5 billion in Tesla shares, according to financial submissions Wednesday night. The Tesla CEO still has more than 166 million shares. Musk sold these shares in part to satisfy tax obligations related to the exercise of share options.
Before the plan was announced, Musk asked his 62.5 million Twitter followers if he would sell. After Saturday’s Twitter poll, Tesla saw a decline of over 15% in two sessions, before going back by over 4% on Wednesday. Tesla was up around 2% in pre-market trading.
4. Rivian’s premarket gains give the EV marker greater market value than GM
A rival R1T electric pickup during the company’s listing outside the Nasdaq MarketSite in New York, Wednesday, November 10, 2021.
Bing Guan | Bloomberg | Getty pictures
Rivian Automotive shares rose a further 6.5% in Thursday’s pre-market, one day after debuting up 29%, giving Amazon and Ford-backed electric car starters a market value of $ 86 billion after one of the largest IPOs this year. Rivian’s market value is higher than Ford’s – and if the gains before the market were to hold, it would also be greater than General Motors. However, the Rivian is still worth a fraction of EV pioneer Tesla, which has a market value of more than $ 1 trillion. Amazon’s 20% stake in Rivian is now worth around $ 17 billion, and Ford’s 12% stake is valued at more than $ 10 billion.
5. Confirms hovering after turning on revenue, extended Amazon deal
Shares of Affirm jumped almost 25% in Thursday’s advance market, the morning after the digital “buy now, pay later” company beat expectations with financial income in the first quarter. It also announced an extension of its partnership with Amazon. As part of the new agreement with Amazon, Affirm will act as the only third-party purchase now, pay later option for the e-commerce giant in the US Amazon will also integrate Affirm in its digital wallet in the US. Credit card companies will still be able to offer purchases now, pay later options on Amazon in the future.
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