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Instablog9ja
13 m
9
American celebrity couple singer, Halle Bailey and rapper, Darryl Dwayne Granberry Jr, aka DDG’s relationship has officially packed up.
The actress and her rapper partner got together in December 2021 and welcomed their only son to the world approximately two years later in December 2023, following a very secretive pregnancy.
Yet 10 months later, the pair have called it quits with DDGbelieving it’s “the best path forward” for them both as he stresses the pair are still on amicable terms and are close friends.
Investopedia
13 m
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Stellantis (STLA) shares tumbled Thursday after the Chrysler and Jeep parent reported a significant drop in U.S. sales, prompting concerns that the company could rein in its generous payout to investors through dividends and buybacks.
On Monday, the company slashed its full-year profit outlook, noting that it was reducing its North American inventory amid softening global industry dynamics and intensifying competition from Chinese rivals.
Following the automaker's weaker-than-expected U.S. sales and profit warning, analysts at Barclay's reduced their rating on the stock to "equal weight" from "overweight," noting they see no recovery for Stellantis until at least the first half of next year. Since the start of the year, the company's shares have fallen around 44% through Thursday's close.
The shares fell 4% to close at $13.08 on Thursday.
Below, we take a closer look at the automaker's weekly chart and apply technical analysis to identify important price levels worth watching.
Since setting their record high in March, Stellantis shares have trended lower within a narrow descending channel, falling below the closely-watched 50- and 200-week moving averages (MAs) in the process.
Importantly, volumes have steadily increased since late July, with share turnover this week registering its highest level since late October 2019 to indicate conviction behind the recent selling.
Upon a breakdown below the descending channel’s lower trendline, investors should monitor two crucial levels on the Stellantis chart.
The first sits around $11.50, a region where the shares could attract buying interest near the prominent July and October 2022 swing lows, particularly given that the relative strength index (RSI) indicator points to oversold conditions in the stock.
A failure to hold this level may see the shares revisit lower support around $8.50, a location on the chart where investors could seek lower entries near a series of comparable trading levels positioned just above the March 2020 pandemic low.
If Stellantis shares undergo a reversal, it’s worth watching two key overhead levels on the chart.
Firstly, an initial recovery could test the $15 level, where the price may run into resistance near last week’s pre-gap lows, an area that also aligns with multiple peaks and troughs on the chart dating back to early January 2021.
A rally above this level could see a move up to around $18.50, a chart location where investors may look to lock in profits near the 200-week MA and a multi-year trendline connecting a range of comparable price action from December 2020 to October last year.
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Instablog9ja
1 h
9
Rapper Yung6ix has weighed in on the ongoing social media rift between music heavyweights Davido and Wizkid, cautioning fans against taking sides.
In a recent X post, Yung6ix emphasised the importance of neutrality by drawing from personal experience, noting that advising wealthy individuals can be challenging.
Yung6ix’s plea comes amid a flurry of insults directed at Davido and his team from Wizkid’s camp.
Investopedia
1 h
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Judging from interest rate expectations, Wall Street is more pessimistic about the U.S. economy than the Federal Reserve is, and that outlook could be put to the test by Friday's closely watched September jobs report.
Late Thursday, investors were pricing in a 56% chance that the Fed will cut interest rates by at least 75 basis points before the end of the year, according to CME Group’s FedWatch Tool, which forecasts interest rate decisions based on federal funds futures trading data. A reduction of that size would require the Fed to cuts its benchmark rate by 50 basis points, or half a percentage point, in one of its two remaining policy meetings this year, in November or December.
The Fed cut the fed funds rate by 50 basis points last month, its first rate cut in more than four years, citing progress in the fight against inflation and a deterioration in the labor market. The cut was an unusually large move for the Fed, which more commonly has carried out 25-basis-point adjustments.
The market’s bias toward another jumbo cut puts it squarely at odds with the Fed, whose September dot plot forecasted two 25-point cuts by the end of the year, and most economists, who generally see the U.S. economy on track for a soft landing. It also reflects lingering skepticism on Wall Street about the health of the economy.
According to Deutsche Bank analysts, Wall Street's aggressive rate cut expectations could end up being a boon to markets over the next few months. “From a market perspective,” analysts wrote in a recent note, the market's pessimism “suggests that investors could still price in even more good news over the months ahead if economic growth does hold up.”
Key labor market updates this week have sent mixed signals about how well the economy is holding up. The number of job openings increased in August, but the hiring rate dipped to April 2020 levels. One report indicated private hiring rebounded in September, while another suggested layoffs were unseasonably high.
Friday’s September jobs report could help clarify the relatively muddy picture painted by this week’s other data. A report that's generally in line with expectations would likely bolster the case for slow-and-steady easing, wrote Oxford Economics' Lead Economist Nancy Vanden Houten in a recent note. "If the report on balance is much weaker than expected," she wrote, "it could be enough to prompt the Federal Reserve to lower rates by another 50bps at its November meeting."
Bank of America analysts expect the market’s reaction to Friday’s report to be tempered by the fact that there’s a month’s worth of data still to be released before the Fed’s rate decision. Traders, the analysts said in a recent note, are unlikely to write off a 50-point cut until after September’s inflation data and October’s jobs report, both of which will be released the week before the Fed’s November meeting.
"We think a soft employment report is likely to generate a larger market response vs a strong labor report," the analysts wrote.
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Instablog9ja
2 hrs
14
The Lagos State Government has said that the ban on Single-Use Plastics, such as pet bottles, and sachet water, among others, would take effect from January 2025 across the state.
The Commissioner for the Environment and Water Resources, Tokunbo Wahab, announced this at an event in Ikeja on Tuesday, October 2.
“Plastic waste materials make up a significant proportion of solid wastes and litter the metropolis. It has become a highly visible part of the waste stream, PET, Styrofoam and nylon for sachet water, popularly called ‘pure water’ commonly being used for water and beverages, take away plates and cups, carrier bags, among others.
This development is posing environmental challenges ranging from ecosystem degradation, Drainage clogging and flooding, Lagoon and Ocean debris with attendant harm to humans resulting in high socio-economic impacts on the state.
It will improve the situation of the State’s drainage channels and reduce plastic pollution in the marine environment.
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Investopedia
2 hrs
14
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OpenAI's latest fundraising round has made the ChatGPT maker one of the world's most valuable startups, and an unusually costly investment from a historical perspective.
On Wednesday, Microsoft (MSFT)-backed OpenAI completed a $6.6 billion fundraising round that valued the nonprofit startup at the center of the Artificial Intelligence (AI) craze at more than $150 billion, nearly double its valuation just a few months ago. If OpenAI were a public company in the S&P 500, it would be among the index’s 70 largest components and have a market value roughly equivalent to that of AT&T (T) and Pfizer (PFE).
But OpenAI, if it was a public company, wouldn’t be eligible for the S&P 500 because it's never been profitable. Nor have many of its major competitors like Amazon (AMZN)-backed Anthropic, Elon Musk’s xAI, or Safe SuperIntelligence (SSI), the organization born out of the recent schism between OpenAI and its former chief scientist Ilya Sutskever.
The valuations of AI startups have skyrocketed this year as they’ve attracted billions of dollars in investment from tech giants and venture capital firms. Anthropic is in the midst of a fundraising round and is expected to be valued at as much as $40 billion. xAI has been valued at $24 billion and SSI is worth an estimated $5 billion just three months after its founding.
These unprofitable firms trade at a high multiple. A Deutsche Bank analysis estimates Anthropic is likely to be valued at 50 times its full-year sales, while OpenAI is valued at almost 40x sales. At the height of the dotcom bubble, Microsoft's and Oracle's (ORCL) price-to-sales ratios peaked around 30.
Their valuations also dwarf those of America's largest tech companies. Nvidia (NVDA), expected to book $90 billion in profit in the next year, trades at 30x annual sales. Apple (AAPL) and Microsoft, two of the most profitable companies in the world, trade at price-to-sales ratios in the low teens.
OpenAI was founded as a nonprofit organization with a for-profit arm through which investors can stake a claim to future profits. Last month, reports emerged that the company was planning to convert to a for-profit company, and its latest fundraising reportedly made the investments conditional on its completing that conversion in the next two years.
Even so, it could be a while before the company does turn a profit. OpenAI as a whole is expected to lose $5 billion this year, according to analyses by and . The number of monthly users of its chatbot ChatGPT, OpenAI's main source of revenue, more than tripled between March and June of this year, and ChatGPT's revenue is expected to quadruple to $2.7 billion this year. But those users come at a high cost—renting the servers to run ChatGPT will cost an estimated $4 billion this year.
Growing revenue will be vital to the profitability of OpenAI, and the company has set ambitious goals for itself. According to documents reviewed by the , the company expects to grow sales from nearly $4 billion this year to $11.6 billion in 2025. It's targeting $100 billion in revenue in 2029, which would require a compound annual growth rate (CAGR) of more than 90% over the next five years. By comparison, analysts forecast Nvidia's revenue will grow at a CAGR of 33% through 2026.
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