Dear Bosses, Moment of Huat Big Big has arrived....please enjoy Heng Ong Huat lah

[k1976]

BofA Says Tech Stocks Post Largest Weekly Outflows on Record​

• Hartnett says rally shows few signs of waning before Fed pivot
• Global equity and bond funds register weekly inflows: BofA

Stock market information at the Nasdaq MarketSite.

Photographer: Michael Nagle/Bloomberg
By Sagarika Jaisinghani
March 8, 2024 at 5:12 PM GMT+8


The largest weekly outflow on record for technology stock funds hasn’t dimmed the broader euphoria that is driving US equities to “ferocious” gains, according to Bank of America Corp. strategists.
About $4.4 billion was pulled from tech funds in the week through March 6, strategists led by Michael Hartnett wrote in a note, citing EPFR Global data. The outflows come as Apple Inc. shares entered a technical correction this month, amid concerns about the firm’s slumping iPhone sales and regulatory pressure

 

[k1976]

BofA: Tech sees largest weekly outflow on record; Bubble ‘not too far’​

| Author Vahid Karaahmetovic

Published Mar 08, 2024 07:41AM ET

View all comments (12)

In their weekly report, Bank of America's strategists noted a diverse flow of funds across asset classes for the week up to March 6.
Money market funds lead with significant inflows, pulling in $30 billion. Bonds followed with $17.3 billion, stocks attracted $6.9 billion, and cryptocurrencies saw inflows of $1.9 billion.
Interestingly, gold experienced outflows of $1 billion, according to Bank of America, referencing EPFR Global data.

 

[k1976]

Aramco posts 25% fall in full-year profit​

PUBLISHED SUN, MAR 10 20243:16 AM EDT

Dan Murphy@DAN_MURPHY
WATCH LIVE
[IMG alt="CALGARY, CANADA - September 18, 2023 :
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada.
Over 5,000 delegates from 100+ countries have gathered in Calgary for the 24th World Petroleum Congress, where global oil and gas leaders convene under the theme 'Energy Transition: The Path to Net Zero.' The conference focuses on "]https://image.cnbcfm.com/api/v1/ima....jpeg?v=1704890241&w=929&h=523&vtcrop=y[/IMG]
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada.

Artur Widak | Nurphoto | Getty Images
Saudi Arabia’s state oil giant Aramco reported a 25% decline in profit to $121.3 billion in 2023, down from $161.1 billion in 2022.

“The year-on-year decrease can be attributed to lower crude oil prices and volumes sold, as well as reduced refining and chemicals margins, partially offset by a decrease in production royalties during the year and lower income taxes and zakat,” Aramco said in a statement.

 

[k1976]

Why Nvidia share price is plummeting after 80% rally in YTD — explained​

3 min read09 Mar 2024, 03:15 PM ISTJoin us
Asit Manohar

• Nvidia stock price crashed over 5.50% on Friday due to two major reasons — weakness in auto major, and disappointing US job date hitting Fed rate cut buzz, say stock market experts

Nvidia stock price has made a strong base in the $810 to $815 per share range, believe stock market experts.

Nvidia share price crashed over 5.50 percent on Friday and erased around $128 billion of investors. The Nasdaq-listed AI poster boy of 2024 registered sharp selling during the Friday session on Wall Street and ended at $875.28 per share, logging around 10 percent dip from its lifetime high of $974 per share level. Nvidia stock price opened at $951.38 per share level and went on to touch a new high of $974 apiece on Nasdaq during Friday deals. However, Nvidia stock failed to sustain at higher levels after the profit-booking trigger, which further deepened following the selling pressure in the S&P 500 and Nasdaq indices.

​

 

[k1976]

On why Nividia stock price witnessed sharp selling after the profit-booking trigger, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Nvidia stocks are the AI poster boy of the US stock market. It registered a sharp upside move in 2024 and now it is the third largest S&P 500 company after Microsoft and Apple. Selling in NVidia stocks deepened on Friday because of the disappointing US job data and rise in the US unemployment data. This dampened the US Fed rate cut buzz, which triggered profit-booking and panic selling in the US stock market. That's why Nvidia stock price tumbled further after the profit-booking trigger at record higher levels."

Nvidia stock price prediction​

On Nvidia stock price outlook, Sandeep Pandey of Profitmart Securities said, "Nvidia stock price has made a strong base in the $810 to $815 per share range. Those who have Nvidia stocks in the portfolio, are advised to maintain a strict stop loss below $810 level."

 

[k1976]

https://www.investors.com/market-tr...s-futures-nvidia-reversal-is-ai-market-rally/

Dow Jones Futures: Nvidia Reversal Is Wake-Up Call For AI-Led Market Rally; What To Do Now​

• ED CARSON
• 10:28 PM ET 03/09/2024

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.

The stock market rally generally retreated last week. The S&P 500 and Nasdaq hit fresh all-time highs on Friday before reversing lower in an outside day.

Nvidia (NVDA) was the clear culprit Friday, staging a bearish reversal after the AI chip leader had become historically extended. That reversal hit the broader market but especially fellow AI stocks like Advanced Micro Devices (AMD), Taiwan Semiconductor Manufacturing (TSM), Arm Holdings (ARM) and Super Micro Computer (SMCI).

Nvidia's reversal — which continued Friday night — could be a blip or a character change after a massive run. It's definitely a wake-up call for complacent and euphoric investors.

It's a time to be careful and review your portfolio, especially if you have heavy exposure to AI plays.

 

[k1976]

https://www.google.com/amp/s/www.li...-they-headed-in-march/amp-11709906191744.html


Mean while.....somewhere in Far East

 

[k1976]

https://www.scmp.com/business/china...-bullion-prices-surge-rate-cut-view-and-haven

Pet rock is seeing some traction de woh

 

[k1976]

https://sg.news.yahoo.com/police-wa...h-geylang-serai-ramadan-bazaar-111325652.html


Good Hands say dun wear too much gold when u go shopping Bazaar