Wall Street Today | Apple looks to its first headset for next breakthrough product
MACRO
Summers Sees Signs Fed Tightening Is Having Impact on US Economy
Former Treasury Secretary Lawrence Summers said evidence is starting to emerge that Federal Reserve actions are having an impact on the US economy, with some indications of a turn in labor demand and increased stockpiles of unsold items.
A Paradigm Shift Has Begun in Markets, says Morgan Stanley's Ted Pick
Global markets are in the beginning of a fundamental shift after a nearly 15-year period defined by low interest rates and cheap corporate debt, according to Morgan Stanley co-President Ted Pick. The transition from the economic conditions that followed the 2008 financial crisis and whatever comes next will take “12, 18, 24 months” to unfold. Out of the ashes of this transition period, a new business cycle will emerge, he said.
SECTORS
Rally in Cathie Wood's Fund Offers Hint of Optimism in Slumping Market
Investors hunting for bargains in the stock market's carnage are scooping up shares of an old favorite: Cathie Wood's $ARK Innovation ETF(ARKK.US$ .
Shares of the fund, which is largely populated by growth-oriented technology companies, have advanced 17% since bottoming May 11. They have outpaced the $S&P 500 Index(.SPX.US$ , which has edged up 4.4% over the same period.
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Oil Rises to Three-Month High as Saudis Signal Demand Confidence
Oil extended gains to the highest level in almost three months after Saudi Arabia signaled confidence in the demand outlook by increasing the price of its crude for Asia by more than expected. West Texas Intermediate futures rose around 2% in early trading to just shy of $121 a barrel before paring some gains.
COMPANIES
Rivian's Great EV Expectations Meet the Harsh Reality of Manufacturing
Car factories around the world routinely churn out models around the clock. About eight months after production on $Rivian Automotive(RIVN.US$ 's electric trucks started, executives recently marked a milestone in uninterrupted work days: The company's plant ran at full speed for an entire 10-hour work shift for the first time.
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Bill Gates Says He's Given More to Climate Change Than Elon Musk, Who Replies: 'Sigh'
Bill Gates told YouTuber HugoDécrypte he gave a lot more money to climate change than Elon Musk. Musk said he refused philanthropy from Gates because of a 'multi-billion dollar' bet against Tesla. Responding to an extract of the interview on $Twitter (Delisted)(TWTR.US$ in which Gates defended his position, Musk simply replied: "Sigh."
Apple Looks to Its First Headset for Next Breakthrough Product
$Apple(AAPL.US$ 's own headset is shaping up to be its most significant new product since the iPhone. Apple's Worldwide Developers Conference in San Francisco on June 6 could be the $2tn company's last big gathering before the headset is unveiled as early as this autumn, giving it a final opportunity to rally fans and chart a course to a new generation of computing hardware.
Elon Musk Backtracks on Job Cuts, Says Tesla Salaried Staff to Be 'Fairly Flat'
$Tesla(TSLA.US$ Chief Executive Elon Musk said on Saturday that the electric vehicle maker's total headcount will increase over the next 12 months, but the number of salaried staff should be little changed, backtracking from an email just two days ago saying that job cuts of 10% were needed.
"Total headcount will increase, but salaried should be fairly flat," Musk tweeted in a reply to an unverified Twitter account that made a "prediction" that Tesla's headcount would increase over the next 12 months.
Source: Bloomberg, WSJ, CNBC, Reuters, FT
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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stonks 30000 : Tesla's news is outdated
Moomoo Recap USOP stonks 30000: Hello, Musk sent the message of 'pausing all hiring' to executives on Thursday, while Reuters posted the report on Saturday. We have updated Musk's latest reply related to the news. Thank you for your feedback.
Geneva LL : According to Apple, this could be something really big. After the iPhone revolution 15 years ago, will this new headset become the next business altering device?
FYY Geneva LL: I think maybe yes…
Geneva LL FYY:
wait and see
102487749 : you want to sell