Economists from Goldman Sachs Group have revised their Q1 GDP forecast to see a growth of 5% though earlier they expected a 3% increase.
Facebook’s decision to shut down the holding company in Ireland came after the US Internal Revenue Service (IRS) sued the company over its Ireland shore deal.
Meanwhile, funds that trusted oil and gas, suffered losses. In particular, the Direxion Daily S&P Oil&Gas E&P 2X ETF lost 97.3% this year. The Direxion Daily Junior Gold Miners Bear 2X ETF plunged 95.5% in 2020.
Pascal Soriot, the Chief Executive of AstraZeneca revealed that the vaccine is as effective as Pfizer and can be a strong protector against the new variant of the virus which is very contagious.
Zoom stock has skyrocketed nearly 5x this year on the backdrop of massive demand owing to the work-from-home culture and more businesses moving online. Zoom investors had a phenomenal bull run in 2020.
Just as expected, the market has reacted to this news. The S&P futures (INDEXSP: INX) recorded a surge of 0.62% right after the Christmas holiday.
As the year comes to an end and the final trading week of 2020 begins, Asia markets were mixed on Monday as some firms pulled in gains and others declined. Alibaba stock is in the red.
With Tesla up about 700% this year, investors should avoid thinking about growth at any price and rather diversify their portfolios to older stocks.
Having seen Tesla’s massive growth in 2020, a Tesla shareholder proposed Elon Musk to float a holding company wherein the Tesla CEO can continue as the boss for more years ahead and create enormous value for all his companies and shareholders.
Alphabet through Google Cloud has identified a huge gap in the Saudi Arabia cloud infrastructure and intends to fill it despite the impending competition.
Over the past year, NKLA has climbed 25.64% and nearly 46% since the beginning of 2020. However, Nikola has lost 28.94% in the last three months.
Virgin Galactic (SPCE) shares closed with a 5.30% rise on Wednesday to signal a comeback.
The uncertainty about the relief measures puts the market on the edge. President Trump has noted that the $900 billion package isn’t suitable and has called for increasing direct payments from $600 to $2000.
Apple (APPL) saw a 1.2% gain on December 21, just an hour after the company announced their car plans. Its share further went up by 2.75% on that day and rose to 4.8% on December 22, trading at a $131.88 close.
The relief package incorporates, among others, increased jobless benefits, small business loans, education funding, the $600 stimulus checks and funding to aid the supply and distribution of Covid-19 vaccines.