💸 Market Insights: TikTok, Fed, Bitcoin and Stocks ↗
💸 Market Insights: TikTok, Fed, Bitcoin and Stocks ↗
Explore this week's top finance stories: inflation concerns, EV news, crypto highs, and major corporate updates.
Market Snapshot (Past Week)
S&P500: $5,117.09 (+0.10%)
Dow Jones Industrial Average: $38,714.77 (+0.12%)
Nasdaq Composite: $15,973.17 (-0.49%)
Russell 2000: $2,039.32 (-1.75%)
S&P/TSX Composite Index: $21,849.15 (+0.70%)
PHLX Gold and Silver Sector: $120.50 (+2.84%)
The Biggest Investing Stories From the Last 7 Days
Explore the latest investing highlights, covering top financial stories from the past week.
🆙 PPI Up!
Prices paid by US producers saw the largest increase in six months in February, mainly driven by higher fuel and food costs.
Why this is important for investors —>
🚘 Mass-Market EV
Chinese electric car manufacturer Nio Inc NIO 0.00%↑ has announced its plans to launch a mass-market brand called "Le Dao" in May.
Assessing the value for investors —>
⛐ Fisker in Crisis
Fisker Inc FSR 0.00%↑, an electric vehicle company, experienced a significant drop in FSR stock value, falling over 40% in after-hours trading.
Why investors should pay attention —>
🛢️ Oil Price Rise
Oil prices increased after US crude stockpiles decreased and Ukraine attacked another Russian refinery.
Why this is important for investors —>
🟡 Bitcoin Boom
Bitcoin surged to a new all-time high of $73,664 before settling around $73,080, driven by increased inflows into US exchange-traded funds (ETFs) tied to the cryptocurrency.
Assessing the value for investors —>
🧬 Icahn’s Illumina Standoff
Activist investor Carl Icahn has decided not to pursue a second proxy contest against Illumina Inc's ILMN 0.00%↑ board.
Why investors should pay attention —>
🆙 CPI Up!
US inflation exceeded expectations for the second straight month in February, driven by increases in the prices of used cars, air travel, and clothing.
Why this matters to investors —>
🚀 ORCL Surge
Oracle Corp. ORCL 0.00%↑ surpasses expectations with strong cloud bookings and revenue growth.
Assessing the value for investors —>
👕 Gap Q4 Earnings
Gap Inc GPS 0.00%↑ reported better-than-expected fourth-quarter results.
Why investors should pay attention —>
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Hot Topics
The market awaits the Federal Reserve's next announcement on Wednesday, with recent inflation and unemployment data likely delaying interest rate cuts, thus driving Treasury yields up. Meanwhile, central banks in the UK and Japan will also make key decisions. The Bank of Japan's potential interest rate hike, its first since 2007, is drawing intense speculation and could impact the market.
MicroStrategy: Michael Saylor’s MicroStrategy MSTR 0.00%↑ has taken an innovative approach to increasing its Bitcoin holdings through financial engineering. The company raises funds through convertible debt which it uses to purchase Bitcoin. This strategy has allowed MicroStrategy to accumulate more Bitcoin per share, enhancing its treasury without diluting shareholder value.
TikTok: The Energy and Commerce Committee unanimously approved a bill to remove TikTok from app stores and internet service providers in the US unless ByteDance, its Chinese parent company, sells it within six months, citing concerns over foreign influence and data privacy. The potential ban raises fears of data misuse and censorship, while also impacting users and creators by possibly shifting the digital audience to American platforms like YouTube and Instagram.
China Cancels US Wheat: China recently canceled additional US wheat export shipments, leading to a record number of cancellations that impacted Chicago futures. The news initially caused wheat futures to drop to their lowest since August 2020, but prices later rebounded. Analysts suggest that China has found cheaper wheat sources elsewhere.
European Food Crisis: In 2024, agricultural challenges threaten Europe's food security. Disruptions from El Niño and La Niña, conflict in grain-producing regions, trade restrictions on essential commodities like palm oil, increased demand from China, and climate change paint a grim picture of potential food shortages. A stress test simulation in Brussels involving EU officials and experts highlighted this emerging crisis.
AI: Cognition, a US-based start-up, unveiled Devin, hailed as the world's first AI software engineer capable of autonomously writing, debugging, and deploying code to create websites and software programs. Devin goes beyond current tools like Microsoft’s MSFT 0.00%↑ Co-pilot and is equipped with tools for independent operation. CEO Scott Wu highlighted the complexity of teaching AI to program, suggesting Devin's development marks a significant advance in software engineering.
SMIT: Scottish Mortgage Investment Trust (SMIT) has launched a £1 billion share buyback program, the largest in UK investment trust history, to address the gap between its share price and net asset value (NAV). This move reflects strong portfolio performance and demonstrates confidence in its valuation of private company holdings.
Copper: Shanghai copper prices reached a near three-year high, and London prices hit a 10-month peak, driven by potential output cuts in China, the top producer. This surge comes after major Chinese copper smelters agreed to reduce operation rates and delay new projects, as reported by state-backed research house Antaike.
China: China faces economic challenges as property support measures fail to halt home price declines and early-year activity slows, including a dip in credit growth attributed to reduced Lunar New Year financing. Despite these hurdles, efforts to boost the economy include easing tourist visa restrictions and potentially more impactful fiscal policies from the National People's Congress than initially anticipated, suggesting a multifaceted approach to economic revival.
VTM Stock Picks
This week, VTM's stock screeners have identified several promising stocks, with a focus on value, growth, and dividend potential.
💎 Value Stock Picks 💎
Scorpio Tankers Inc (NYSE: STNG)
P/E Ratio: 7.18
PEG Ratio: N/A
Scorpio Tankers Inc.'s STNG 0.00%↑ financial data points to improvements in profitability, operational efficiency, and shareholder returns, suggesting the company successfully navigated past challenges. Tanker revenues can be volatile and affected by macroeconomic conditions.
Civitas Resources Inc (NYSE: CIVI)
P/E Ratio: 7.8
PEG Ratio: N/A
Civitas Resources, Inc. CIVI 0.00%↑ emerges as an undervalued investment within the oil and gas sector, primarily due to its strategic focus on the Permian Basin. With a low P/E ratio and a dividend yield of 2.8%, Civitas Resources presents a strong case for value investment.
🚀 Growth Stock Picks 🚀
Vipshop Holdings Ltd (NYSE: VIPS)
ROE: 22.0%
Mean Sales Growth Rolling 12 Months: 3.4%
Vipshop Holdings Ltd VIPS 0.00%↑ stands out as a promising growth stock with a Return on Equity (ROE) of 22.0%, indicating efficient profitability management. Earnings per share (EPS) have grown by 7.2%, reflecting a solid increase in profitability, and a mean sales growth of 3.4% over the last 12 months showcases steady revenue expansion.
🏦 Dividend Stock Picks 🏦
ONEOK Inc (NYSE: OKE)
Dividend Yield: 5.1%
Dividend Payout Ratio: 69.8%
ONEOK, Inc. OKE 0.00%↑ is a prominent choice for those seeking income through dividends, given its high yield coupled with a payout ratio that suggests a balanced approach to distributing earnings while investing in future growth. This balance indicates a potentially sustainable dividend policy conducive to long-term investor income.
Top Reads
🌔 Businesses are gearing up for the total solar eclipse on April 8, anticipating the event that will darken skies across a wide swath of North America. Celestial-themed products and promotions galore.
🪸 Researchers in Canada found a coral reef where it was thought none could survive, due to low oxygen and high acidity in the water. This discovery, made with the help of First Nations, challenges our understanding of ocean ecosystems.
🇿🇦 The African subsea cable operator Seacom confirmed that services on its west African cable system were down , affecting the Ivory Coast, Liberia, Benin, Ghana, Burkina Faso and more. Much of west and central Africa without internet after undersea cable failures.
🤼 Girls' wrestling has seen unprecedented growth across the United States, becoming the fastest-growing high school sport. Girls are falling in love with wrestling.
🤱 A growing market for luxury postnatal retreats highlights a gap in accessible support for most American families. Luxury Postnatal Retreats Draw Affluent Parents Around the US.