Asian shares subdued after US tech falters, dollar and yields hold gains
due at the close of trading on Friday, would also cause some "quirky price action" in tech mega-caps, Spencer said.its heavy weightings of tech giants like Microsoft and Apple - may exacerbate moves in these stocks during the ongoing earnings season, Spencer added. But he also predicted that ever-optimistic tech investors would use sustained price weakness as a "chance to reload.
The U.S. Federal Reserve and the European Central Bank meet next week, with both expected to raise rates again after their most aggressive monetary tightening cycle in decades. Investors had "thought the game was about to be over, but it looks like we are going into extra innings," said Ken Mahoney, chief executive of Mahoney Asset Management. "There will be a lot of destruction in the economy," he added, if the Fed remains resolute to bring inflation down to its target of around 2%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia stocks gain; US futures slip after Netflix, Tesla earningsAsian stocks rose and sterling stumbled on Thursday as cooling UK inflation lifted risk appetite ahead of central bank meetings next week, while disappointing earnings results from Netflix and Tesla pushed U.S. futures lower.
Read more »
BROKERS’ NOTES: Buy Tesla, short NetflixViv Govender, portfolio manager at Rand Swiss, on what the smart money is doing.
Read more »
China’s Scientists Receive the 2023 Global Energy Prize - IT News Africa | Business Technology, Telecoms and Startup NewsThe 2023 Global Energy Prize presented by the Global Energy Association recipients are Chinese scientists AI IoT Nanoenergy
Read more »
Tesla Powerwall gets new solar car charging featureTesla started testing the “Charge on Solar” feature with a limited number of customers in May 2023, initially calling it “Drive with Sunshine”.
Read more »
Tesla spending over R17.8 billion on Dojo supercomputerChief executive officer Elon Musk told investors Wednesday the in-house supercomputer is being designed to handle massive amounts of data, including video from Tesla cars, needed to create autonomous driving software.
Read more »
Tesla earnings rise to $2.7bn on increased sales, lower pricesTesla reported a jump in second-quarter profits as a series of price cuts translated into sharply higher car sales.
Read more »