Connect with us

Stock Market Today: Dow Jones, S&P 500 Surges; Tesla Reports Solid Quarterly Figures

The markets opened higher after a day of Fed-fueled volatility.
The post Stock Market Today: Dow Jones, S&P 500 Surges; Tesla Reports Solid Quarterly Figures appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMar…

Published

on

Stock Market Today Mid-Morning Updates

On Thursday, the Dow Jones Industrial Average rose by 170 points. Could the recent sell-offs due to the Fed’s hawkish approach to rising inflation be over? ServiceNow (NYSE: NOW) CEO Bill McDermott seems to think so for software stocks at least. He says that customers are more focused than ever on digitizing their businesses. Despite these inflationary times, the company is still expanding into employee experience, customer experience, and creator workflow revolution on a low code platform.

On matters relating to the Federal Reserve, “I don’t think it’s possible to say exactly how this is going to go, and we’re going to need to be, as I’ve mentioned, nimble about this,” says Federal Reserve Chair Jerome Powell. This comes after the Fed’s January policy-setting meeting on Wednesday. In the outcome of the meeting, the Fed has sent a signal that its first interest rate hikes of the pandemic era would likely start in March. Investors have been anticipating more insight from the Fed on measures that it will take to mitigate inflation.

Among the Dow Jones leaders, shares of Apple (NASDAQ: AAPL) are up 2.41% today while Microsoft (NASDAQ: MSFT) is also up by 3.39%. Home Depot (NYSE: HD) and Nike (NYSE: NKE) ticked higher on Thursday as well. Among the Dow financial leaders, Visa (NYSE: V) and Goldman Sachs (NYSE: GS) are trading higher at 0.70% and 0.68% respectively.

Shares of electric vehicle (EV) leader Tesla (NASDAQ: TSLA) are down by 4.86% on Thursday. Rival EV companies like Rivian (NASDAQ: RIVN) and Lucid Group (NASDAQ: LCID) are also down by 5.31% and 8.35% today. Chinese EV leaders like Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) are also trading lower at 2.43% and 5.18% respectively.

Dow Jones Today: Treasury Yields and Unemployment Claims Drop

Following the stock market opening on Thursday, the S&P 500, Dow Jones, and Nasdaq are trading 1.26%, 1.29%, and 1.06% higher. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) is up by 1.24% on Thursday, while the SPDR S&P 500 ETF (NYSEARCA: SPY) is also up by 1.35%.

The 10-year Treasury ticked down to 1.82% on Thursday morning after closing below 1.85% on Wednesday, after the Fed signaled that it could start raising interest rates in March for the first time in more than three years. Also, the Labor Department reported that first-time unemployment claims fell to 260,000. This falls back in line with economists’ predictions, suggesting that some of the Omicron-related disruptions may be subsiding.

U.S. Gross Domestic Product Expands, Beating Expectations

Today, the Bureau of Economic Analysis (BEA) released its first estimate of fourth-quarter GDP on Thursday, saying that GDP rose at an annual rate of 6.9%, compared to estimates of 5.5%. The increase was above the unrevised 2.3% growth in the previous quarter. Furthermore, this is despite a surge in omicron cases that contributed to an increase in sick workers and slower hirings.

The U.S. economy grew at a much better pace than expected to end 2021 due to a sizeable boost in inventories and consumer spending. A jump in consumer spending yielded a record holiday shopping season helped to contribute to gains in the fourth quarter. The GDP report reflects an overall solid period for the economy after output had slowed considerably over the summer. 

[Read More] Best Artificial Intelligence Stocks To Buy Right Now? 5 To Watch

Tesla Reports Solid Quarterly Figures; No Plans For New Cars In 2022 Amidst Supply Chain Shortages

Regarding EV earnings, Tesla is trading lower by 2.34% today despite news of its latest quarterly earnings report. In detail, the EV titan is sitting on an earnings per share of $2.52 on revenue of $17.72 billion for its fourth quarter. Notably, this would mark a record quarterly revenue for Tesla. For comparison, Wall Street’s estimates were at an earnings of $2.36 alongside revenue of $16.57 billion. In other words, Tesla beat expectations on both fronts. Regarding its performance year-over-year, Tesla posted sizable gains of 65% in its total revenue. At the same time, automotive revenue and net income for the quarter surged by 71% and 760% respectively. 

Even so, the company provided a somewhat conservative outlook on its portfolio expansion plans for 2022. For the most part, this is evident from CEO Elon Musk’s latest update during Tesla’s earnings call. Namely, Musks notes that Tesla will not be introducing any new models for the current fiscal year. According to the CEO, this is due to supply limits with chips. Not to mention, Tesla’s main factories are not running at capacity, this has been the case for the past few quarters. Musk adds, “supply chain became the main limiting factor, which is likely to continue through 2022.” As such, Tesla’s plans for a $25,000 EV and Cybertruck are likely shifting towards 2023 and beyond.

Regardless, it is important to note that despite the less-than-ideal operating conditions, Tesla continues to power forward. To point out, Tesla hit record production figures in 2021 and is already planning expansions beyond its current annual production capacity of 600,000. As such, I could understand if TSLA stock is the play for investors looking to bet on EVs now.

TSLA stock chart
Source: TD Ameritrade TOS

[Read More] Best Monthly Dividend Stocks To Buy Now? 5 For Your List

Levi Strauss Surges On Earnings Beat And Upbeat 2022 Guidance

At the same time, clothing industry titan Levi Strauss (NYSE: LEVI) is making a splash in the stock market today. LEVI stock is now surging by 13.43% as of today’s opening bell. Diving in, the company recorded earnings of $0.41 a share on revenue of $1.7 billion. This would exceed analyst forecasts of $0.40 and $1.68 billion respectively. Furthermore, Levi’s net income for the quarter is currently up by a massive 199% year-over-year as well. Overall, CEO Chip Bergh believes that these results reflect “robust financial performance, marked by sequential improvement through the year, despite navigating ongoing business disruption from the pandemic.

Additionally, commenting on the company’s performance throughout the fiscal year is CFO Harmit Singh. Singh highlights that Levi achieved “multi-decade record revenues and profitability.” He cites the company’s brand strength, and leveraging of its pricing power as key contributors to Levi’s current momentum. Looking forward, Levi also appears to be optimistic about its growth prospects in the current fiscal year. It currently sees net revenues growing by 11% to 13% year-over-year. Because of all this, investors may want to keep an eye on LEVI stock in the stock market today.

LEVI stock chart
Source: TD Ameritrade TOS

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!


The post Stock Market Today: Dow Jones, S&P 500 Surges; Tesla Reports Solid Quarterly Figures appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

Read More

Continue Reading

Uncategorized

Pharma industry reputation remains steady at a ‘new normal’ after Covid, Harris Poll finds

The pharma industry is hanging on to reputation gains notched during the Covid-19 pandemic. Positive perception of the pharma industry is steady at 45%…

Published

on

The pharma industry is hanging on to reputation gains notched during the Covid-19 pandemic. Positive perception of the pharma industry is steady at 45% of US respondents in 2023, according to the latest Harris Poll data. That’s exactly the same as the previous year.

Pharma’s highest point was in February 2021 — as Covid vaccines began to roll out — with a 62% positive US perception, and helping the industry land at an average 55% positive sentiment at the end of the year in Harris’ 2021 annual assessment of industries. The pharma industry’s reputation hit its most recent low at 32% in 2019, but it had hovered around 30% for more than a decade prior.

Rob Jekielek

“Pharma has sustained a lot of the gains, now basically one and half times higher than pre-Covid,” said Harris Poll managing director Rob Jekielek. “There is a question mark around how sustained it will be, but right now it feels like a new normal.”

The Harris survey spans 11 global markets and covers 13 industries. Pharma perception is even better abroad, with an average 58% of respondents notching favorable sentiments in 2023, just a slight slip from 60% in each of the two previous years.

Pharma’s solid global reputation puts it in the middle of the pack among international industries, ranking higher than government at 37% positive, insurance at 48%, financial services at 51% and health insurance at 52%. Pharma ranks just behind automotive (62%), manufacturing (63%) and consumer products (63%), although it lags behind leading industries like tech at 75% positive in the first spot, followed by grocery at 67%.

The bright spotlight on the pharma industry during Covid vaccine and drug development boosted its reputation, but Jekielek said there’s maybe an argument to be made that pharma is continuing to develop innovative drugs outside that spotlight.

“When you look at pharma reputation during Covid, you have clear sense of a very dynamic industry working very quickly and getting therapies and products to market. If you’re looking at things happening now, you could argue that pharma still probably doesn’t get enough credit for its advances, for example, in oncology treatments,” he said.

Read More

Continue Reading

Spread & Containment

I created a ‘cosy game’ – and learned how they can change players’ lives

Cosy, personal games, as I discovered, can change the lives of the people who make them and those who play them.

Published

on

By

Cosy games exploded in popularity during the pandemic. Takoyaki Tech/Shutterstock

The COVID pandemic transformed our lives in ways many of us are still experiencing, four years later. One of these changes was the significant uptake in gaming as a hobby, chief among them being “cosy games” like Animal Crossing: New Horizons (2020).

Players sought comfort in these wholesome virtual worlds, many of which allowed them to socialise from the safety of their homes. Cosy games, with their comforting atmospheres, absence of winning or losing, simple gameplay, and often heartwarming storylines provided a perfect entry point for a new hobby. They also offered predictability and certainty at a time when there wasn’t much to go around.

Cosy games are often made by small, independent developers. “Indie games” have long been evangelised as the purest form of game development – something anyone can do, given enough perseverance. This means they can provide an entry point for creators who hadn’t made games before, but were nevertheless interested in it, enabling a new array of diverse voices and stories to be heard.

In May 2020, near the start of the pandemic, the small poetry game A Solitary Spacecraft, which was about its developer’s experience of their first few months in lockdown, was lauded as particularly poignant. Such games showcase a potential angle for effective cosy game development: a personal one.

Personal themes are often explored through cosy games. For instance, Chicory and Venba (both released in 2023) tackle difficult topics like depression and immigration, despite their gorgeous aesthetics. This showcases the diversity of experiences on display within the medium.

However, as the world emerges from the pandemic’s shadow, the games industry is facing significant challenges. Economic downturns and acquisitions have caused large layoffs across the sector.

Historically, restructurings like these, or discontent with working conditions, have led talented laid-off developers to create their own companies and explore indie development. In the wake of the pandemic and the cosy game boom, these developers may have more personal stories to tell.

Making my own cosy game

I developed my own cosy and personal game during the pandemic and quickly discovered that creating these games in a post-lockdown landscape is no mean feat.

What We Take With Us (2023) merges reality and gameplay across various digital formats: a website, a Discord server that housed an online alternate reality game and a physical escape room. I created the game during the pandemic as a way to reflect on my journey through it, told through the videos of game character Ana Kirlitz.

The trailer for my game, What We Take With Us.

Players would follow in Ana’s footsteps by completing a series of ten tasks in their real-world space, all centred on improving wellbeing – something I and many others desperately needed during the pandemic.

But creating What We Take With Us was far from straightforward. There were pandemic hurdles like creating a physical space for an escape room amid social distancing guidelines. And, of course, the emotional difficulties of wrestling with my pandemic journey through the game’s narrative.

The release fared poorly, and the game only garnered a small player base – a problem emblematic of the modern games industry.

These struggles were starkly contrasted by the feedback I received from players who played the game, however.

This is a crucial lesson for indie developers: the creator’s journey and the player’s experience are often worlds apart. Cosy, personal games, as I discovered, can change the lives of those who play them, no matter how few they reach. They can fundamentally change the way we think about games, allow us to reconnect with old friends, or even inspire us to change careers – all real player stories.

Lessons in cosy game development

I learned so much about how cosy game development can be made more sustainable for creators navigating the precarious post-lockdown landscape. This is my advice for other creators.

First, collaboration is key. Even though many cosy or personal games (like Stardew Valley) are made by solo creators, having a team can help share the often emotional load. Making games can be taxing, so practising self-care and establishing team-wide support protocols is crucial. Share your successes and failures with other developers and players. Fostering a supportive community is key to success in the indie game landscape.

Second, remember that your game, however personal, is a product – not a reflection of you or your team. Making this distinction will help you manage expectations and cope with feedback.

Third, while deeply considering your audience may seem antithetical to personal projects, your game will ultimately be played by others. Understanding them will help you make better games.

The pandemic reignited the interest in cosy games, but subsequent industry-wide troubles may change games, and the way we make them, forever. Understanding how we make game creation more sustainable in a post-lockdown, post-layoff world is critical for developers and players alike.

For developers, it’s a reminder that their stories, no matter how harrowing, can still meaningfully connect with people. For players, it’s an invitation to embrace the potential for games to tell such stories, fostering empathy and understanding in a world that greatly needs it.


Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.


Adam Jerrett does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Read More

Continue Reading

Government

The SNF Institute for Global Infectious Disease Research announces new advisory board

From identifying the influenza virus that caused the pandemic of 1918 to developing vaccines against pneumococcal pneumonia and bacterial meningitis in…

Published

on

From identifying the influenza virus that caused the pandemic of 1918 to developing vaccines against pneumococcal pneumonia and bacterial meningitis in the 1970s, combating infectious disease has a rich history at Rockefeller. That tradition continues as the Stavros Niarchos Foundation Institute for Global Infectious Disease Research at Rockefeller University (SNFiRU) caps a successful first year with the establishment of a new advisory board.

Credit: Lori Chertoff/The Rockefeller University

From identifying the influenza virus that caused the pandemic of 1918 to developing vaccines against pneumococcal pneumonia and bacterial meningitis in the 1970s, combating infectious disease has a rich history at Rockefeller. That tradition continues as the Stavros Niarchos Foundation Institute for Global Infectious Disease Research at Rockefeller University (SNFiRU) caps a successful first year with the establishment of a new advisory board.

This international advisory board was created in part to give guidance on how to best use SNFiRU’s resources, as well as bring forward innovative ideas concerning new avenues of research, public education, community engagement, and partnership projects.

SNFiRU was established to strengthen readiness for and response to future health crises, building on the scientific advances and international collaborations forged in the context of the COVID-19 pandemic. Launched with a $75 million grant from the Stavros Niarchos Foundation (SNF) as part of its Global Health Initiative (GHI), the institute provides a framework for international scientific collaboration to foster research innovations and turn them into practical health benefits.

SNFiRU’s mission is to better understand the agents that cause infectious disease and to lower barriers to treatment and prevention globally. To speed this work, the institute launched numerous initiatives in its inaugural year. For instance, SNFiRU awarded 31 research projects in 29 different Rockefeller laboratories for over $5 million to help get collaborative new research efforts off the ground. SNFiRU also supports the Rockefeller University Hospital, where clinical studies are conducted, and brought on board its first physician-scientist through Rockefeller’s Clinical Scholars program. “One of the surprises was the scope of interest from Rockefeller scientists in using their talents to tackle important infectious disease problems,” says Charles M. Rice, Maurice R. and Corinne P. Greenberg Professor in Virology at Rockefeller and director of SNFiRU. “The research topics range from the biology of infectious agents to the dynamics of the immune response to pathogens, and also include a number of infectious disease-adjacent studies.”

In the past 12 months, SNFiRU often brought together scientists studying different aspects of infectious disease as a way to spur new collaborations. In addition to hosting its first annual day-long symposium, SNFiRU initiated a Young Scientist Forum for students and post-doctoral fellows to meet regularly, facilitating cross-laboratory thinking. A bimonthly seminar series has also been established on campus.

Another aim of SNFiRU is to develop relationships with community-based organizations, as well as design and participate in community-engaged research, with a focus on low-income and minority communities. To that end, SNFiRU is helping develop a research project on Chagas disease, a tropical parasitic infection prevalent in Latin America that can cause congestive heart failure and gastrointestinal complications if left untreated. The project will bring together clinicians practicing at health centers in New York, Florida, Texas, and California and basic scientists from multiple institutions to help the communities that are most impacted.

“The SNFiRU international advisory board convenes globally recognized leaders with distinguished biomedical expertise, unrivalled experience in pandemic preparedness and response, and a shared commitment to translating scientific advancements into equitably distributed benefits in real-world settings,” says SNF Co-President Andreas Dracopoulos. “The advisory board will advance the institute’s indispensable mission, which SNF is proud to support as a key part of our Global Health Initiative, and we look forward to seeing breakthroughs in the lab drive better outcomes in lives around the globe.”

The new advisory board will hold its first meeting on April 11th, 2024, following the second annual SNF Institute for Global Infectious Disease Research Symposium at Rockefeller.

Its members are: Rafi Ahmed of Emory University School of Medicine, Cori Bargmann of The Rockefeller University, Yasmin Belkaid of the Pasteur Institute, Anthony S. Fauci, the former director of the National Institute of Allergy and Infectious Diseases, Peter Hotez of Baylor College of Medicine and Texas Children’s Hospital Center for Vaccine Development, Esper Kallas of of the Butantan Institute, Sharon Lewin of the University of Melbourne Doherty Institue, Carl Nathan of Weill Cornell Medicine, Rino Rappuoli of Fondazione Biotecnopolo di Siena and University of Siena, and Herbert “Skip” Virgin of Washington University School of Medicine and UT Southwestern Medical Center.


Read More

Continue Reading

Trending