Nov 13th, 2023 – Stocks moved lower at the beginning of the day, following a US outlook downgrade by Moody’s, from stable to negative (Mercado). The broad market index (S&P 500) slipped 0.08%, the Nasdaq also ended the day 0.22% lower, however the Dow Jones rose 0.16%.
Portfolio holding Nvidia (NVDA) (0.215 units @ $467.57) added 0.59$ after it announced its most recent AI chip. The H200 chip, twice as fast as the previously unveiled H100. This is the chip that a lot of firms have been waiting on to further improve their own artificial intelligence, so this rise in share price could have been forecasted.
Boeing shares (BE) climbed 4.01% following an announcement from Emirates Airlines, stating they were going ahead with a $52 billion order for 95 Boeing Aircraft. Additionally, China is now open to consideration with ending its freeze on buying Boeing’s 737 Max planes.
Following an update to its Cybertruck order agreements, Tesla (TSLA) increased 4.22% after the announcement that buyers of the new truck won’t be able to sell their trucks within the first year owning it. Buyers could face legal actions, and Tesla could refuse to sell these individual cars in the future.
Amazon (AMZN) cut 180 jobs today in their games division, which resulted in a minor decrease of 0.68%. However, this relatively small job cut operation is part of a much broader restructuring. The games division mostly deals with downloadable versions of many games, which rotate every month, together with the games available from Amazon Prime.
Portfolio holding Eli Lilly (LLY) (0.2 units @ $582.99) rose 2.51% today, due to the positive outcome of the SELECT trials by Novo Nordisk (@ $100.88), showing the GLP -1 drug has a 20% reduction in cardiovascular events.
Author: Stefano Rizzi