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EV cars, Lucid Air car, Lucid Motors, Lucid Motors stock, Lucid Motors stock price, Markets, MI Exclusive, Mover, stock market, stock market 2021, Tesla, Trading

Lucid Motors spikes 11% in public debut as CEO says it’s well-positioned to compete with Tesla

Lucid Motors plans to go public in a $24 billion tie-up with a SPAC MediaNews Group/Bay Area News via Getty Images Lucid Motors surged as much as 11% in its public debut on Monday, having completed its SPAC merger with Churchill Capital on Friday.Lucid is seen as a Tesla competitor with its high-end luxury electric vehicles, and CEO Peter Rawlinson told CNBC on Monday that it is well positioned to compete with the undisputed leader.Rawlinson pointed out that the $4.4 billion it raised in its SPAC merger pales in comparison to the $300 million Tesla raised when it went public in 2010, putting Lucid in an "enviable position" relative to Tesla's early days. "That's a resounding difference," Rawlinson said, adding that its fundraising puts Lucid in a "great position for strategic gro...
Analyst Note, Finance, Fixed Income, interest rates, Markets, MI Exclusive, s&p 500, stock market 2021, Stock Market Analysis, Stock Market Outlook, Trading

Investors should keep buying stocks amid strong earnings as low bond yields offer little competition, Oppenheimer says

Getty Images / Bryan R. Smith Low interest rates and improving stock market fundamentals means investors should stick with stocks, Oppenheimer said in a note on Monday.Oppenheimer highlighted that stocks face little competition from other assets given that the 10-year US Treasury yield is at 1.2%.And strong earnings results only improved the outlook for stocks going forward, Oppenheimer said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Low bond yields and improving corporate earnings mean stocks face little competition from other asset classes and investors should continue to buy equities, Oppenheimer said in a note on Monday."With bond yields this low and fundamentals improving, stocks appear to have no competition," Oppenheimer's chief investment str...
Finance, Fintech, IPO, Markets, retail traders, Robinhood app, Tech Insider, Trading, weekend BI US

Robinhood promises to fix’the issues’ that outraged customers when it restricted trading in meme stocks

Robinhood CEO Vlad Tenev acknowledged the company angered many customers after it blocked them from trading GameStop and other red-hot stocks. On Saturday, Tenev promised to learn from past mistakes and "ensure they never happen again." Saturday's roadshow event comes just days ahead of the commission-free trading app's hotly anticipated IPO. LoadingSomething is loading. ...
Bitcoin, bitcoin price, bitcoin price outlook, crypto, Crypto assets, Cryptocurrencies, Finance, Markets, MI Exclusive, Trading

Here is what it’ll take to pull bitcoin out of its bear market, according to JPMorgan

Nurphoto / Getty Images The bear market in bitcoin is ongoing as momentum traders unwind their positions, JPMorgan said in a note on Wednesday. The bank is looking for signs of new institutional adoption to help lift bitcoin from its rut."We believe that the share of bitcoin in the total crypto market would have to normalize further and perhaps rise above 50%" to end the current bear market, JPMorgan said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The ongoing bear market in bitcoin is showing no signs of ending anytime soon, JPMorgan said in a note on Wednesday.The bank is looking for indications that the worse in bitcoin's price decline may be behind us, but in order to argue that the bear market is over, JPMorgan wants to see bitcoin's valuation sh...
corporate buybacks, Finance, Markets, MI Exclusive, share buybacks, stock market, stock market 2021, Stock Market Analysis, Stock Market Outlook, Trading

Company stock buybacks are on track to hit a record $1 trillion amid ongoing economic recovery

Drew Angerer/Getty Images US companies are set to spend a record $1 trillion on stock buybacks amid the ongoing economic recovery, according to a JPMorgan note.The surge in stock buybacks comes after the COVID-19 pandemic hampered the practice amid heightened economic uncertainty.Leading the charge is Apple's $90 billion stock buyback announced earlier this year.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Corporate share repurchases are returning with a vengeance this year after the COVID-19 pandemic sidelined the popular shareholder return practice.According to a Tuesday note from JPMorgan, corporate stock buybacks are on track to hit a record $1 trillion amid the ongoing economic recovery.Amid the heightened economic uncertainty during the pandemic,...
Analyst Note, Finance, Katie Stockton, Markets, MI Exclusive, stock market, Stock Market Analysis, Stock Market Outlook, Stocks, Technical Analysis, Trading

The recent stock sell-off is a short-term’healthy pullback’ as the market hits extremes, according to one technical analyst

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, March 9, 2020. Bryan R Smith The ongoing sell-off in the stock market represents a "healthy pullback," technical analyst Katie Stockton said in a note on Monday.The S&P 500 is down about 3% from its record high, with losses accelerating in Monday's trading session."We think the pullback will be short-lived, maturing later this week," Stockton said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.A sell-off in US stocks accelerated on Monday, with the S&P 500 falling as much as 2% amid investor concerns about rising COVID-19 cases due to the Delta variant. But technical analyst Katie Stockton of Fairlead Strategies views the sell-off in stocks as a "healthy pullback" that wil...
Analyst Note, Finance, Markets, MI Exclusive, s&p 500, stock market, Stock Market Analysis, Stock Market Outlook, Trading

A big sell-off in the stock market is unlikely for these 2 reasons, according to Fundstrat’s Tom Lee

Cindy Ord/Getty Images A large sell-off in the stock market is unlikely for 2 key reasons, Fundstrat's Tom Lee said in a note on Monday.Recent weakness in stocks can be largely attributed to rising COVID-19 cases, according to Lee."July chop ultimately a great set-up for risk assets to rally in 2H2021," Lee said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Recent weakness in the stock market will likely be short-lived and won't extend into a large decline for two key reasons, Fundstrat's Tom Lee said in a note on Monday.The stock market saw a steep drop to start this week, but Lee is maintaining a bullish outlook on steady bond yield spreads and a stable VIX term structure, according to the note.Bond yields being stable relative to Treasuries is a posi...
Earnings, earnings 2021, Finance, Markets, MI Exclusive, Morgan Stanley, Morgan Stanley Stock, stock market, stock market 2021, Trading

Morgan Stanley’s fixed-income sales and trading miss overshadows 2nd-quarter earnings beat

Chairman and CEO of Morgan Stanley James P. Gorman participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City. Neilson Barnard/Getty Images Morgan Stanley posted second quarter earnings that beat analyst expectations in revenue and net income, as its wealth management business began to see the impact of its recent acquisitions of E-Trade and Eaton Vance. But a miss in Morgan Stanley's fixed income and trading business helped add to a pre-market stock decline of about 2% in early Thursday trading.Overall revenue growth of 8% was driven by growth in all of its business units, including institutional securities, wealth management, and investment management services.Here are the key numb...
Finance, Markets, MI Exclusive, stock market, Stock Market Analysis, Stock Market Outlook, stock market outlook 2021, Stocks, Trading

The stock market has further to run after 7 straight days of record highs as readings of investor euphoria remain in check

Spencer Platt/Getty Images The stock market is within striking distance of breaking the record of consecutive closes at all-time-highs.But investors don't seem fazed, with various sentiment indicators showing no signs of euphoria.Sentiment often follows price, with "greed" readings found near market peaks and "fear" readings found near market bottoms.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The S&P 500 notched its seventh consecutive close at all-time-highs on Friday, putting it within striking distance of breaking the record streak of eight consecutive closes at new highs.But investors don't seem to care, based on various sentiment indicators that show no signs of euphoria in the stock market. This dynamic sets stocks up for further gains ahea...
Analyst Notes, Equities, Finance, stock market, stock market 2021, Stock Market Analysis, Stock Market Outlook, stock market outlook 2021, Trading, weekend BI US

These are the stocks to own in the second half of 2021 as markets navigate higher interest rates, according to Goldman Sachs

Investors should not expect another strong six months for stocks after the S&P 500 finished the first half of the year up about 15%, Goldman Sachs said in a note on Friday. Instead, the stock market is likely to consolidate sideways for the next six months as investors navigate higher interest rates. With the 10-year US Treasury yield currently at 1.43%, Goldman expects it to climb to a cycle-high of 1.9% by the end of the year.That expected surge in interest rates will likely weigh on high growth stocks and benefit cyclical stocks, the bank said. To benefit from the market setup going into year-end, Goldman recommends investors buy stocks that have short duration, high growth investment ratios, and ...