U.S. Stocks Extend Rally to All-Time Highs; Tesla Falls

U.S. stocks extended their rally to record highs with the S&P 500 on its longest daily winning streak in 4 years. After corporate earnings and strong hiring data, the world’s largest economy. The dollar fell.

Smallcaps, energy stocks, and materials companies led the rally as investors moved into companies that benefit most from a strong economy. 

  • Stoxx Europe is up by 0.19%
  • Dow Jones is up by 0.41%
  • NASDAQ is up by 0.20%

Tesla Falls After Twitter Users Ask Musk To Sell Stock

The share of EV maker Tesla fell 6% on Monday after a large number of Elon Musk’s Twitter followers supported his proposal to sell a 10% stake in the company.  In a Twitter poll that Musk ran during the weekend, 58% of the users supported his plan. He has decided to exercise a large number of stock options in the next three months, which will result in a big tax bill. The fund freed from the stock selling will be used to pay the taxes.

Toshiba To Split Itself Into Three Companies

Toshiba said on Monday that it is planning to split itself into three companies to boost shareholder value. The three companies will focus on areas such as infrastructure, devices, and semiconductor memory as early as 2023. The Nikkei news organization reported the companies are expected to get listed at some point.

AMC To Bring Back ‘Fan-Favorite’ Movies, Up 7%

The shares of AMC Entertainment Holdings rose 7% on Monday after it decided to bring back fan-favorite movies to the big screen during November 12-14. The firm will partner with Walt Disney Animation Studios, Pixar Animation Studios, Walt Disney Studios, and Lucasfilm as a part of this strategy. The American movie theater chain is expecting to bring back movie lovers to the cinemas as the Covid-19 pandemic continues to fade.

Crypto Market Hits $3 Trillion Market Cap as Ethereum and Bitcoin Gain

The entire cryptocurrency market is now worth $3 Trillion. The decade-old market for digital assets has jumped 4x from its 2020 year-end value. Memecoins and non-fungible tokens (NFT) are also a growing market with Dogecoin and Shiba Inu continuing to attract attention.

Investors have also gotten more comfortable with established tokens such as Bitcoin and networks like Ethereum. Bitcoin has gained more than 4% today.

Gas Prices in Europe Fly up as Russia Fails to Deliver

European gas and power prices moved up as Russia failed to deliver the boost in supplies today that President Vladimir Putin promised last month. Gas Futures in the Netherlands moved up as much as 9.7% today. Power contracts were also up with concerns that there won’t be enough fuel to feed thermal plants in Europe’s tough winter.

PepsiCo To Get Tesla Electric Trucks In The Fourth Quarter 

The maker of Mountain Dew drink and Doritos chips- PepsiCo said that it is expecting to receive the Tesla Electric trucks in the fourth quarter, helping to reduce fuel costs and fleet emissions. In 2017 December PepsiCo placed an order for 100 electric semi-trucks from Tesla as transportation causes 10% of the company’s total gas emissions. Major nations are going for Carbon zero in the coming decades. Which companies will lead the rally in India? Do the research and prepare your own portfolio, from power stocks to automakers.

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At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]

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