#MarketNews
Hello, dear traders! Today is Thursday, May 16, 2024. Let's quickly delve into the key financial highlights of the day:
More companies are selling shares to reduce debt, with $28.5 billion in IPOs aimed at debt repayment in the past year, a 56% increase.
China's economy likely improved in April, with industrial output up by 5.5% and retail sales rising by 3.7%, as policymakers introduced fiscal stimulus and began a 1 trillion yuan sovereign bond sale.
As EV sales slow, Volkswagen is shifting from an EV-only strategy to include hybrids and partnerships. CEO Oliver Blume is requesting leniency from European regulators on emissions targets.
Siemens saw factory orders drop 12%, lowered its digital industries guidance by up to 8%, and sold its Innomotics unit for €3.5 billion amid continued weakness in China. Siemens (#SIE) shares are rising 1.33%.
Google released updates for its Gemini 1.5 Pro AI model, which will soon handle more data, and introduced a smaller AI model, Gemini 1.5 Flash. Google (#GOOGLE) shares are up 1.27%.
Goldman Sachs on the US market: The stock market has peaked and will trade unchanged until 2024, as company metrics do not indicate significant growth potential.
Honda will invest $65 billion in electrification by 2030, aiming to launch seven new EV models globally and achieve 40% of its sales from EVs and fuel cell vehicles. Honda (#HMC) stock is up 0.98%.
Australia's unemployment rate rose to 4.1% in April as the economy added 38,500 jobs, primarily part-time, despite a broader economic slowdown.
That's it for today, guys! Click on if you liked our review, and see you soon!
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