Economy

2024-01-05 22:27:02

The stock of Lucid Company, in which the Saudi Investment Fund owns a majority stake and which specializes in the manufacture of luxury electric cars, continues to collapse to very low levels, and the stock closed this week at a low price.

The company’s shares closed today, Friday, January 6, 2024, at a price of $3.78 per share, reaching near its lowest historical levels.

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The company, which specializes in luxury electric cars, announced an economical car priced at 50,000 US dollars, expected to be produced in 2025, aiming to compete with Tesla cars, but this announcement did not stop the stock’s ongoing collapse.

Company President Peter Rawlinson says: “We seek to produce vehicles at reduced prices that compete with Tesla vehicles – the Model 3 and Model Y.”

Lucid faced major challenges, its stock collapsed to very low levels, and it faced weak sales and major problems.

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#Lucid #shares #owned #Saudi #Investment #Fund #collapse #reach #price

2024-01-05 12:38:56

The planes of the Air Antilles company, which has become the mixed economy company SEM Antilles, will not return to the air anytime soon. The authorization request process continues, the planned restart is scheduled for March 1, however concerns are still high among employees and questions remain unanswered.
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#Air #Antilles #impossible #planes #return #air

2024-01-05 21:55:10

Published on: 01/05/2024 – 10:55 p.m. Modified on: 01/05/2024 – 10:53 p.m.

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The Dow Jones index advanced 0.07% to 37,466.11 points, the technology-dominated Nasdaq gained 0.09% to 14,524.07 points and the broader S&P 500 index gained 0.18% to 4,697.24 points.

After a strong end to the year, the indices stalled at the start of 2024. Over the week, the Dow Jones index lost some 0.3%, the Nasdaq fell by almost 3%. and the S&P 500 by less than 1%. The New York Stock Exchange thus experienced its first weekly loss following two months of sharp growth.

A robust employment report in the United States showing 216,000 new hires compared to 162,000 forecast for December with an unemployment rate stable at 3.7%, has awakened bond rates.

With bond investors fearing that the high rates of the US central bank, the Federal Reserve (Fed), will not remain so for much longer, ten-year yields on Treasury bonds rose to 4.04% around 9:30 p.m. GMT from 3 .99% the day before.

Added to these more dynamic than expected employment figures is an increase in hourly wages from 0.4% in December to +4.1% over the year, instead of 4% the previous month.

The stock market indices oscillated between green and red throughout the session.

Investors were divided between the idea that the central bank risks keeping rates high for longer to muzzle a resurgence of inflation if the economy and particularly employment are too dynamic. And that activity is in the process of “soft landing”, a term describing inflation which slows without causing recession or unemployment.

For Janet Yellen, President Biden’s finance minister, there is no doubt: “we can describe what we see now as a soft landing and I hope that will continue,” the secretary said on Friday. to the Treasury.

This employment report “reinforces the chances of a soft landing”, also estimated Peter Cardillo of Spartan Capital.

Although job creation exceeded forecasts in December, the Labor Department nevertheless revised the figures for the previous two months downward by more than 70,000 jobs.

In 2023, the job market in the United States will have slowed significantly, with the economy having created an average of 225,000 jobs per month, far from the unprecedented average of 399,000 per month observed in 2022.

“A strong job market is good news, it really helps to argue in favor of a soft landing,” commented Jack Ablin of Cresset Capital.

The analyst pointed out that another indicator, that of activity in services (ISM), “had fallen towards 50 which is considerably lower than expectations” and is synonymous with stagnation.

On the stock market, shares in the travel sector soared. American Airlines and Delta gained 3.90% and 3.42%, respectively.

Cruise line shares also had the wind in their sails like Carnival (+2.85%).

Apple lost 0.40% to 181 dollars and dropped another 0.12% in following-hours trading as press reports claim that the US Department of Justice is preparing to prosecute the Apple brand on issues of competition.

Among chipmakers, AMD gained 1.89% and Nvidia 2.29%.

On the Dow Jones side, apart from the health insurance giant UnitedHealth which lost 1.47%, a majority of the 30 star stocks finished largely in positive territory. Walgreens pharmacies gained 3.09%, Boeing advanced 1.66%.

The shares of connected fitness device manufacturer Peloton continued to enjoy great success (+9.62% to $6.72) with its idea of ​​partnership with TikTok to launch exercise video platforms.

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#Wall #Street #stable #American #employment

2024-01-05 20:15:02

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#effect #certificates #investment #real #estate #expert #answers #Masrawy #Masrawy