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Volvo Cars: Plans to launch 13 new models between now and the end of 2030.Volvo Cars aims to achieve 30% parts commonality and reduce raw material costs by 5% by 2030.On September 17th, Goldman Sachs stated that gasoline prices are poised for further increases as tight supply conditions spread in the global fuel market. The bank has adjusted its trading strategy, shifting its focus from diesel to this widely used vehicle fuel. Analysts, including Yulia Zhestkova Grigsby and Daan Struyven, noted in a report: "The key reason behind this new recommendation is that refiners are shifting production from gasoline to diesel, leading to a rapid tightening of the gasoline market supply." In a report dated September 16th, analysts stated that while diesel prices may still rise further, gasoline currently offers "greater upside potential" due to factors such as more resilient demand and relative inventory changes. Therefore, the bank closed out previous positions on different diesel contract spreads (i.e., time spreads) and recommended establishing long positions in European gasoline targeting mid-2027.On September 17th, according to the Financial Times, Emulate, a UK-based AI startup founded just one month ago by former DeepMind researchers, is launching a new funding round worth hundreds of millions of dollars at a post-money valuation of nearly $4 billion. Sources familiar with the matter revealed that the company is in advanced talks with potential investors, planning to raise up to $700 million, which would bring its valuation to $3.7 billion upon completion. The sources also stated that this massive funding round will be jointly led by prominent UK venture capital firm Index Ventures and Silicon Valley-based Lightspeed Venture Partners.According to the Financial Times, Emulate, a British startup founded by former DeepMind researchers, is raising hundreds of millions of dollars in a new funding round just one month after its founding, with a valuation of nearly $4 billion.

S&P 500, NASDAQ Composite Finish Higher Despite Rate Hike Expectations

Jimmy Khan

Dec 26, 2022 16:24

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Despite a jump in Treasury yields and economic data that indicated consumer inflation was falling but not quickly enough for the Fed to halt its intentions to keep increasing interest rates, the benchmark S&P 500 Index and the tech-heavy NASDAQ Composite finished higher on Friday.


Numerous studies from the Commerce Department and the University of Michigan revealed that although consumer spending, which makes up roughly 70% of the U.S. economy, is slowing down, inflation also seems to be.


Coming home sales registered a surprise boost, and consumer confidence rose more than anticipated, despite the Fed's expectation to hike rates throughout the new year and the widespread forecast of a recession in 2023 among experts.


The S&P 500 Index ended the day on Friday at 3844.82, up 22.43 or +0.59%. The Dow Jones Industrial Average closed at 33203.93, up 175.44 or +0.53%, while the NASDAQ Composite ended at 10497.86, up 21.74 or +0.21%.

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