Overview of Top weekly news 5.1.2022

05 / 01 / 2022
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Tesla´s shares jump again

Shares of the electric vehicle company soared 13.5% to lead the Nasdaq Composite higher after the firm beat fourth-quarter and full-year delivery expectations.* Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021, better than an estimate of 267,000. Deliveries are the closest approximation of sales reported by Tesla.

Performance of Tesla over for 5 years. (Source: Investing.com)

 

Apple’s stock speaks of its power

Apple’s rise to $3 trillion market cap shows the value of its massive share buybacks. The relentless rise of Apple’s stock speaks to the power of Apple’s capital return program, which spent $85.5 billion to repurchase shares and $14.5 billion on dividends in Apple’s fiscal 2021.* Investors are beginning to see Apple as a “flight to safety” or quality trade thanks to the combination of its large cash flow and willingness to return that money to investors.

Nasdaq is poised to underperform S&P 500

Nasdaq is poised to underperform S&P 500 for first time since 2016 as investors shun tech stocks. As of Monday’s close, the Nasdaq was up 23% for the year while the S&P 500 had gained 28%.* Tech stocks have four days left to make up that difference, but the last week of the year doesn’t tend to bring much news that would spur an outsized rally.

 

Performance of Tesla over for 5 years. (Source: Investing.com)

U.S. oil production set to increase

U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies. Output could rise by as much as 900,000 barrels per day. U.S. oil firms slashed production in 2020 as the pandemic destroyed demand and supply has not yet recovered to pre-Covid levels. For the last year, year, and a half, it’s been OPEC+ running the show, but U.S. production is coming back already, and it’s going to come back more in 2022.

Watch this week:

On Thursday, will be released U.K. Composite Purchasing Managers’ Index (PMI).

On Friday, will be published the Business Climate indicator which is based on monthly business surveys and is designed to deliver a clear and timely assessment of the cyclical situation within the euro area.

* Past performance is no guarantee of future results

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