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The e-commerce giant that won a legal battle with EU

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Amazon has won a legal fight with the European Union over an order to it had to pay 214 million dollars in taxes back to Luxembourg.

Amazon is no stranger to court battles as the most recently faced accusations it had received a tax deal from Luxembourg.

The EU’s General Court found that the European Commission had failed to prove “undue reduction in tax burden”.

The judgment is seen as a fresh blow to the EU’s latest tax crackdown on US multinationals

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Anticipation builds for US jobs data and it’s global impact

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What to expect on. a global scale as investors brace for key U.S. employment figures.

Investors and economists are eagerly awaiting the release of the latest US jobs data, anticipating its potential impact on global market trends.

The numbers are expected to provide crucial insights into the health of the world’s largest economy and may influence investment decisions and market sentiments worldwide.

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ASX 200 – what are the key market impacts from reporting season?

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What have investors learned as ASX 200 wraps up reporting season?

As the ASX 200 reporting season draws to a close, market participants are analyzing the outcomes and drawing key insights.

From notable earnings reports to unforeseen challenges, the conclusion of this reporting season unveils critical information that will shape investment.

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AI pushes the Nasdaq to a record-breaking close

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The Nasdaq achieved a record-breaking close, surpassing its previous record high of 16,057.44, which was established on November 21, 2021.

Artificial assistance

Artificial intelligence-related technology stocks, such as Nvidia (NVDA.O) and Microsoft (MSFT.O), have greatly boosted the index.

The Nasdaq Composite has increased by almost 7.2% this year.

The tech-focused index surged 43% in 2023, and as chipmakers gained traction and confidence increased that the Fed might achieve a soft landing—that is, curb inflation without inciting a recession—stocks surged strongly by year-end.

In contrast, Nvidia increased by 1.9% on Thursday, bringing its total gain from a year ago to around 250%.

Market boom

Every S&P 500 subs sector saw a gain at the end of the month.

Analysts at Deutsche Bank report that the index has now increased for 16 of the past 18 weeks, matching the record most winning weeks last attained in 1971.

Bitcoin also moved closer to its all-time high.

The price of the virtual currency momentarily surpassed $64,000 as spot bitcoin ETFs helped drive it to heights last seen in 2021.

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