[ad_1]
CNBC Pro: This EV battery stock has potential double-digit gains ahead
Electric car batteries determine how affordable the vehicles are, and how far they can drive on a single charge.
One Chinese company has captured a significant share of that critical market.
It’s the biggest stock by market capitalization in the index of largest stocks traded on the Shenzhen exchange — bigger than even BYD’s local listing.
UBS analysts think the stock could more than double in price in the months ahead.
Market is seeing ‘déjà vu,’ Wolfe Research says
The end of winning streaks for the S&P 500 and Nasdaq Composite amid hawkish Federal Reserve commentary and a bond auction has been a focus if investors this week. But Wolfe Research’s Rob Ginsberg said oil shouldn’t be overlooked.
“The truth is, the action beneath the surface has been deteriorating over the past few days, with the action in oil of particular concern,” he told clients on Thursday. “A fresh 1-month high would be a welcomed development, as each of the past two oversold rallies since the July peak have failed to signal this momentum confirmation and improvement of trend.”
It’s “starting to feel like déjà vu all over again,” Ginsberg added.
— Alex Harring
Markets will remain unsteady as growth headwinds persist, Barclays says
Markets will likely remain unsteady as worry over economic growth persists, according to Barclays.
“Rates relief but angst about the strength of growth contribute to yet more rotation within the market,” analyst Venu Krishna wrote in a Friday note.
Krishna added that the firm remains positively rated on value equities due to their “favorable exposure to higher-for-longer yields.”
— Brian Evans
Oil settles higher but is still down 4% for the week
Oil settled slightly higher on Friday but is still down 4% for the week after a sell-off on concerns that the global economy is on the verge of a slowdown that will hit demand.
Brent crude contracts for January rose $1.42, or 1.77%, to settle at $81.43 a barrel, while West Texas Intermediate gained $1.43, or 1.89%, to settle at $77.71 a barrel.
Oil sold off earlier in the week as traders grew confident that the Israel-Hamas war would not spread in the near term to disrupt supply. Instead, markets began to worry that troubling economic data out of Europe and China signaled a global slowdown is on the horizon.
But the very real risk of a broader Middle East war was emphasized Thursday when Iran’s foreign minister said the it was all but inevitable that the conflict would spread. OPEC+ could also decide to cut supply to support prices at the group’s next meeting scheduled for Nov. 26.
— Spencer Kimball
[ad_2]
Source link
