A day after issuing his extraordinary demand that all TSLA employees must be in the office at least 40 hours per week, or be fired, Elon Musk announces an immediate “hiring freeze” and a 10% reduction in staff. That is, almost 10,000 employees are going to be terminated soon. Although I am not a fan…… Continue reading Musk to cut TSLA staff by 10%!
Latest Articles
AAPL & TSLA Warning Signs?
Two of the stock market’s major leaders, Apple (AAPL) and Tesla (TSLA) are close to flashing major technical SELL signals, when their 50 day Moving Average crosses below the 200 day moving average. The so-called “death cross.” Of course, like all technical indicators, the “death cross” and it’s opposite technical indicator, the “golden cross” are…… Continue reading AAPL & TSLA Warning Signs?
The Week Ahead
Dow Jones and S&P Indexes look lower at Tuesday’s opening after a long Memorial Day weekend. Oil prices, and Interest Rates, to Jump as European countries agree to limit Russian Oil imports. China’s manufacturing index showed a slower decline in May as their Central Bank announced a slew of economic incentives to revive their slowing…… Continue reading The Week Ahead
Turning Point?
After seven weeks of declining markets, growth investors finally got a ray of sunshine, as the week closed on a upbeat outlook. Although Fed chairman Powell reiterated that this time they are really serious with tackling inflation and will make at least two half point interest rate increases in June and July, investors assumed it…… Continue reading Turning Point?
U.K. Windfall Profits Tax
The British Government said it would use a windfall profits tax on oil and gas companies to help raise funds for direct payments to households, to ease the country’s inflation driven, cost-of-living crisis. Energy companies had benefitted from the surge of commodity prices, in part driven by the war in Ukraine, and disruptions to supply…… Continue reading U.K. Windfall Profits Tax
China calls Emergency Meeting
100,000 Chinese officials attend an emergency video meeting to discuss ways to revive their Covid-hit economy. According to a report in the government controlled Global Times, officials across the country attended this tele-conference to discuss measures to deal with the “complex and grave” economic situation, as outlined by Premier Li Keqiang. He urged authorities to…… Continue reading China calls Emergency Meeting
SNAP Stock Leads Market Down
Shares of SNAP ($22) fell sharply Tuesday after slashing forward looking earnings outlook, citing deteriorating microeconomic climate. Selling spilled over to related stocks, like FB, ROKY and TTD which also depend on online advertising revenue. These concerns could also hurt TWTR ($36) the object of Elon Musk’s leveraged takeover bid at $54.20/share. With the stock…… Continue reading SNAP Stock Leads Market Down
China’s Slowing Economy
More and more economic reports that China’s “zero tolerance” covid response policy is causing a major drag on business activity in China. In addition, the bursting of the property bubble several months ago, which accounts for about 30% of China’s Gross Domestic Product (GDP) is exposing the fact, that a great deal of China’s growth…… Continue reading China’s Slowing Economy
Monday’s Bounce
The stock market staged a strong rally on Monday, May 23rd, 2022 on the news that JP Morgan bank has increased the amount of interest income it projects it will receive this year because of rising interest rates. Of course, that positive factor may be offset by the increasing level of loan defaults and loan…… Continue reading Monday’s Bounce
At The Bottom or More Pain Ahead?
Despite a late surge on Friday, the stock market had its 7th weekly decline. and the market indexes are close to breaking the closing lows of months ago. Is this the time to think about “dipping your toes into the market?” Maybe, but I don’t believe we have seen the panic selling yet that usually…… Continue reading At The Bottom or More Pain Ahead?