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        Wall Street Today | Saudi Arabia and UAE Race to Buy Nvidia Chips to Power AI Ambitions

        Moomoo Recap US wrote a column · 08/15/2023 05:15
        Wall Street Today | Saudi Arabia and UAE Race to Buy Nvidia Chips to Power AI Ambitions
        Biggest Treasury ETF Sees Largest Exodus Since 2020 Meltdown
        Investors are bailing out of the biggest exchange-traded fund devoted to Treasuries at the fastest pace since markets were hammered during the early months of the pandemic.
        More than $1.8 billion came out of the $39 billion $iShares 20+ Year Treasury Bond ETF(TLT.US)$ last week, the most since March 2020, data compiled by Bloomberg show. The fund’s price had dropped more than 3% the week prior and another 1.2% in the five-day stretch ending Friday.
        Source: Bloomberg
        Source: Bloomberg
        US Real Yield Climbs to 14-Year High, Stoking Demand for Dollar
        Traders betting that interest rates in the US will remain higher than inflation far into the future drove 10-year real yields to a 14-year high and spurred gains for the dollar against some of its major peers Monday.
        The real — or inflation-protected — yield on 10-year Treasury debt climbed more than 6 basis points to 1.84% in late New York trading, the highest level since 2009. The allure of positive returns is drawing investors to the greenback, which has rallied about 3% from a more than one-year low last month.
        Source: Bloomberg
        Source: Bloomberg
        Oil prices edge lower after 7th straight weekly gain
        Oil futures edged lower Monday, consolidating after scoring a seventh straight weekly gain on concerns about tightening crude supplies.
        Gold Settles at 1-Month Low After Worst Week in Nearly 2 Months
        Gold futures finished at their lowest in over a month on Monday, following their worst weekly pullback in nearly two months as U.S. dollar strength continued to sap the value of the yellow metal.
        Saudi Arabia and UAE Race to Buy Nvidia Chips to Power AI Ambitions
        Saudi Arabia and the United Arab Emirates are buying up thousands of thehigh-performance $NVIDIA(NVDA.US)$ chips crucial for building artificial intelligence software, joining a global AI arms race that is squeezing the supply of SiliconValley's hottest commodity.
        U.S. Steel Rejects Cleveland-Cliffs Bid. The Stock Soars
        Investors should brace for volatile trading in steel stocks to start a new week. The steel company built by Andrew Carnegie and J.P. Morgan might not be independent for much longer.
        $United States Steel(X.US)$ announced Sunday it was exploring strategic alternatives after receiving “multiple unsolicited proposals.” Many organizations are looking to invest in or take over the steel maker.
        Berkshire Buys Stake in D.R. Horton, Cuts GM Holding
        $Berkshire Hathaway-B(BRK.B.US)$ took new equity positions in homebuilding, notably industry leader $D.R. Horton(DHI.US)$, while reducing its stake in $General Motors(GM.US)$ and eliminating a holding in $McKesson(MCK.US)$, according to a 13-F regulatory filing released late Monday.
        Tesla Is Cutting Prices Again in China
        Tesla is discounting in China, and cutting prices—again. New reductions will lead to more questions about price wars and demand for electric vehicles in the world’s largest market for new cars even though the cuts looked more targeted that some investors fear.
        Court Ruling That Could Save AMC Is Bad for the Stock, But Great for APE Units
        A court ruling delivered Friday is instrumental for $AMC Entertainment(AMC.US)$ to continue securing new financing, but you'd never guess as such from the stock market's reaction.
        AMC plunged 35% in trading Monday as investors reacted to a late-Friday court ruling that will allow the movie-theater chain to convert its preferred equity units, known as APEs, to common shares. APE units jumped 16% in the trading session.
        Intel and Synopsys Expand Partnership to Help Foundry Customers Build Chips Faster
        $Intel(INTC.US)$ and $Synopsys(SNPS.US)$ announced on Monday that the two companies have agreed to expand a strategic partnership in which Intel’s foundry customers will be able to license intellectual property from Synopsys.
        Source: Bloomberg, Dow Jones, CNBC, Financial Times
        Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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        • Chak : Man why don’t you send this alert at 9:30 am I would have bought some stock

        • 70195078 : You think he's a fairy? 🤣...

        • Gilley : nvda financials aren't even worth a 200 dollars a share its ai pumped to death

        • Bulldozer Gilley: they going to use this pump to pay for the next market run

        • OriginaLew Chak: it's 9:30am somewhere... oh wait maybe I'm thinkin 'bout 5 o'clock somewhere? it was 9:30 the day before too...

        • Chak OriginaLew: I’m totally F*d heavy losses on Tesla
          Sold csp $250 , now it’s $228

        • OriginaLew : I've never had more than 12 shares of Tesla at any given point in time. (cautious & not high income yet) That said, I'm currently sitting on 3 shares held & abit over 2k overall profit & I don't do options as of yet. I Don't Know if you're doing options or what the csp you mentioned is but the sentiment I've heard from some is "don't ever try to short Tesla bigly." because it has a tendency to not go down for whatever reasons.

        • OriginaLew : also, some advice from a YouTuber I've watched...
          "If you've blown up your account, then ¹ take a day or week off from trading" ~Larry Jones
          ² watch what's goin on still & take it as a lesson learned
          ³ you don't have to make up your losses w/in the same stock
          ⁴ don't ever revenge trade