$S&P 500(.SPX)$ The number of Americans filing new claims for unemployment benefits increased modestly last week, suggesting the labor market remains tight despite growing fears of a recession amid higher borrowing costs. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 232,000 for the week ended May 27. Economists polled by Reuters had forecast 235,000 claims for the latest week. Claims remain very low by historical standards despite 500 basis points worth of interest rate increases from the Federal Reserve since March 2022, when the U.S. central bank embarked on its fastest monetary policy tightening campaign since the 1980s to tame inflation. Though the employment growth ha
$NVIDIA Corp(NVDA)$ The Nvidia guidance was so massive that investors jumping off too soon are making a huge mistake. Investors selling last week have already missed out on the big jump above $400. The chip company beat April quarter targets by $670 million, but the real big numbers were the guidance for FQ2 and the 2H of the year. The GPU company guided to July quarter revenues of $11.0 billion versus analyst consensus of only $7.1 billion. Analysts were forecasting a flat to down quarter for FQ2, while Nvidia instead guided up revenues by a massive $3.9 billion. Investors need to grasp the scale here before jumping ship. Nvidia generated record quarterly revenues of $8.3 billion back in FQ1'23 and the guidance
$Tesla Motors(TSLA)$ BEIJING, May 30 (Reuters) - A private jet used by Tesla Inc CEO Elon Musk has arrived in Beijing, according to a Reuters witness. Musk is expected to meet senior Chinese officials and visit Tesla's Shanghai plant, sources have said, in what would be his first trip to China in three years. Tesla did not immediately respond to a request for comment on whether Musk had arrived in China. Musk’s private jet, a 2015 Gulfstream G650ER, was shown leaving Alaska on Tuesday morning Asia time before crossing over Japan and South Korea, according to ADS-B Exchange, a flight aggregation website. The jet with its identifying tail number could be seen at Beijing Capital International Airport on Tuesday, acco
$Microsoft(MSFT)$ Some financial traders might have valuation-related concerns about Microsoft. However, the share-price rally could persist as Microsoft will undoubtedly benefit from its practically inevitable acquisition of Activision Blizzard (NASDAQ: ATVI). Microsoft assuredly will continue making waves in generative artificial intelligence. Don’t get the wrong idea here. If you’re looking for multi-bagger returns over the next six or 12 months, investing in Microsoft probably won’t get you there. That said, Microsoft shares can provide “steady Eddie” portfolio growth over the long haul. Whether it’s the video-gaming market or machine learning, Microsoft never ceases to push boundaries and offer superior value
$Alphabet(GOOG)$ institutions such as hedge funds, mutual funds, pension funds, and other similar entities are mandated by the SEC to disclose their holdings every quarter. We can follow their trading patterns to understand how bullish or bearish they are towards any given stock and also to confirm our trade direction. So, this is a handy tool to gauge the Street's sentiment for any US-listed stock. As far as Google is concerned, a group of 2,027 institutional investors accumulated a little over 336 million of Google's Class A shares in the last 13F cycle, which dwarfed the selloff of 189 million shares by 1,681 other such entities. This created a net accumulation of roughly 147 million of Google's Class A shares i
$Palantir Technologies Inc.(PLTR)$ Businesses are flocking to the data analytics specialist's platform. Palantir's customer base surged 41% year over year in the first quarter. That included a 50% jump in U.S. commercial customers, to 155. Palantir's Q1 revenue, in turn, rose by 18% year over year to $525 million. The gains were wide-ranging. Commercial sales expanded by 15% to $236 million, while government revenue increased by 20% to $289 million. "We continue to see robust pilot starts and promising conversions and we're also beginning to see the realization of our expansion strategy, meaning we're beginning to see meaningful growth and upsell opportunities with our newer customer base," Chief Business Affairs a
$Microsoft(MSFT)$ Microsoft Corp., the presumptive leader in the generative-AI race, is ready to extend its lead. The software giant MSFT on Tuesday laid out a technology roadmap, bolstered by testimonials from customers such as General Motors Co. GM, at its Build developers conference. Microsoft unveiled updates to artificial-intelligence tools that let developers code more quickly, shaving the time required to create a developer box from two weeks to a matter of minutes. “The concept of a dream machine … the human-computer symbiosis … is exciting,” Microsoft Chief Executive Satya Nadella said in a keynote speech. “We went from the bicycle to the steam engine with ChatGPT.” Underlining his point, nearly every sess
$NIO Inc.(NIO)$ NIO is filing for several GPT-related trademarks in China, possibly in preparation for making its virtual voice assistant NOMI smarter. The Chinese electric vehicle (EV) maker filed five GPT-related trademark applications on May 15, and their classifications involve communication services, scientific instruments, construction, and social services. These trademarks include a NIO GPT, two NOMI GPTs, and two Knowme GPTs. GPT (Generative Pre-trained Transformer), essentially solves for the probability of the next word occurring, sampling and generating a word from a probability distribution with each call. With ChatGPT becoming a hot topic around the world, many Chinese tech giants have announced their pr
$Alibaba(BABA)$ Alibaba Group Holding Limited (NYSE:BABA) reported its FQ4'23 and FY23 earnings release this week, but the negative market reaction suggests some investors didn't buy into the company's restructuring plans. I presented a pre-earnings update, highlighting the geopolitical headwinds that engulfed BABA recently. As such, the gains made through its January highs dissipated as investors worry about whether Beijing could clamp down further and stoke more negative sentiments. While I had anticipated Alibaba's restructuring plans to augur well for BABA's buying sentiments, management's commentary at its recent earnings call contained some unexpected surprises. Management provided more updates on its plans
$Apple(AAPL)$ Apple has restricted use of ChatGPT and other external artificial intelligence tools as it develops its own similar technology, according to a document reviewed by The Wall Street Journal and people familiar with the matter. Apple is concerned workers who use these types of programs could release confidential data, according to the document. Apple also told its employees not to use Microsoft-owned GitHub's Copilot, which automates the writing of software code, the document said. ChatGPT, created by Microsoft-backed OpenAI, is a chatbot derived from a so-called large language model that is able to answer questions, write essays and perform other tasks in human-like ways. When people use these models, d