Dow Jones, Nasdaq, S&P 500 weekly preview: Why analysts expect stocks to rotate lower

Microsoft (MSFT) to include enhanced version of ChatGPT on Bing in coming weeks - Semafor

Semafor reported Wednesday that Microsoft's (NASDAQ: MSFT) search engine Bing is set to include a faster and richer version of ChatGPT into its product over the coming weeks.

The faster version, named known as GPT-4, is said to respond considerably faster than the... More

Rivian (RIVN) to cut jobs by 6% amidst price war

Reuters reports in an exclusive story Wednesday that Rivian Automotive (NASDAQ: RIVN) is laying off 6% of its workforce in an effort to cut costs. The American EV maker, already grappling with falling cash reserves and a weak economy, is now bracing for what may be an industry-wide price war.

The falling EV prices were kicked off by cuts made recently by Elon Musk-led Tesla and Ford... More

Chinese domestic EV makers report January sales decline following Tesla (TSLA) price cuts

Chinas top domestic high-end EV manufacturers: Nio (NYSE: NIO), XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI), all recorded monthly and year-on-year sales declines in January, with some of the drops exceeding 50%. The weakness follows disrupted production and sales slowed by the weeklong Lunar New Year holiday, as-well-as recent Tesla (NASDAQ: TSLA) price... More

Tesla (TSLA) plans production ramp in Shanghai as price cuts boost demand

In an exclusive story, Reuters reports Wednesday that electric vehicle giant, Tesla, Inc. (NASDAQ: TSLA) plans to step up output at its Shanghai plant over the next two months to meet demand ignited by aggressive price cuts on its best-selling models. The report cites a planning memo seen by Reuters and a... More

Alphabet (GOOGL) a more defensive stock in 2023 - BofA

Ahead of Alphabet's (NASDAQ: GOOGL) earnings release on Thursday, February 2, BofA analyst Justin Post raised the firm's price target on the stock to $119 from $116, maintaining a Buy rating.

Post told investors in a research note that the firm is updating estimates for FX and the tech giant's recent cost-cutting.

"We are at revenue/GAAP EPS of $63.6bn/$1.20 vs... More

Warren Buffet backed EV maker BYD in talks to acquire insurer Yi'an

BYD, the Chinese electric vehicle company in China, announced on Tuesday that the Warren Buffet backed automaker is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial... More

Tesla (TSLA) to increase CAPEX and ramp battery cell and semi-truck production

Tesla (NASDAQ: TSLA) announced in a 10-K filing on Tuesday that the electric vehicle company will increase its capital expenditure next year as the electric-vehicle maker increases production of a new battery cell and the Semi heavy duty truck.

Tesla wrote in the filing that we are likely to see heightened levels of capital... More

'Investors should fade YTD rally' argues JPMorgan's Kolanovic

JPMorgan analyst Marko Kolanovic told investors on Monday that they should fade the year-to-date-rally rally as recession risks are merely postponed rather than diminished.

"Fundamental confirmation for the next leg higher might not come, and instead markets could encounter an air-pocket of weaker earnings, activity, and capex,"... More

Tesla (TSLA) to offer additional discounts and supercharging incentives

(Updated - January 30, 2023 2:33 PM EST)

UPDATE: Teslarati has confirmed with Tesla that newest discount/supercharging incentives are for Model S and X vehicles only.

Story by teslarati.com reports today that Tesla (NASDAQ: TSLA) is now offering an additional $3000 discount or 3 years of free Supercharging incentives with the purchase of new vehicles. However, the... More

Peloton (PTON) holiday promotions suggest improving demand claims Citi analyst

Peloton (NASDAQ: PTON) defended at Citi on Monday with analyst Ronald Josey stating that extended holiday promotions suggest improving subscriber demand.

Peloton has struggled since the end of the pandemic, with demand dwindling and the company having to previously halt production in... More

General Motors (GM) enters binding long-term supply agreement with Vacuumschmelze

Vacuumschmelze (VAC) announced Monday that the advanced magnetic materials company has entered into a binding long-term supply agreement with General Motors (NYSE: GM). As part of the agreement, VAC will build a facility in North America to manufacture permanent magnets for electric motors using locally sourced raw... More

Analysts mostly positive on Apple (AAPL) stock into earnings

Apple (NASDAQ: AAPL) is due to report earnings this Thursday, after market close. The current Street consensus is looking for an EPS of $1.94 on sales of $121.88 billion.

Apple shares have managed to recover in recent weeks after falling to $124.17 - the lowest level since June 2021 - in the first trading week of this year.

Here are fresh comments... More

Berenstein spoke with investors following Tesla’s (TSLA) mixed Q4 report

Bernstein reiterated an Underperform rating on Tesla (NASDAQ: TSLA) with a $150.00 price target after speaking with the company and several investors. Tesla has rallied dramatically despite reporting mixed results on Jan 25. Tesla missed margins significantly but provided reassuring guidance and commentary on demand and beat on EPS due to a lower-than-expected tax rate and... More

GM to downgraded to Hold as Berenberg awaits better entry point

Berenberg downgraded General Motors (NYSE: GM) to a Hold rating (From Buy) and cut the price target on the stock to $41.00 (From $45.00) as analyst Adrian Yanoshik believes the American auto maker will continue to face near-term challenges from mass-market affordability and cost inflation. The company is scheduled to... More

S&P 500 could overshoot 4600 in H1 2023 - Oppenheimer

While some equity strategists, like Morgan Stanleys Michael Wilson, see this weeks Fed meeting as a catalyst for stocks to rotate lower, some also see a chance for the rally to extend beyond the critical resistance of 4100.

Oppenheimers Ari Wald argues that the S&P 500 has finally managed to reverse its 2022 downtrend after the index broke above the descending trend line.

We expect strength to continue over the coming months, because 1) our cycle... More

'Don't Fight the Fed' is still alive and this week will serve as a reminder - MS Wilson

Michael Wilson, the Chief U.S. Equity Strategist and Chief Investment Officer at Morgan Stanley, sees the case for the U.S. equities moving lower this week on the back of the month-end rebalancing and the upcoming FOMC meeting.

Wilson seems surprised by the magnitude of the recent jump in stocks; however, he believes all good news is now priced in. The S&P 500 is up... More