Money
Is a $52 billion boost enough to end a global chip shortage?
As the race to combat the global chip shortage continues the Biden administration is big to end the crisis
US President Joe Biden is preparing to spend $52 billion to boost the worsening shortage of semiconductor chips.
The White House is still waiting for congressional approval on the big spend but is pushing ahead with plans of how to invest the money wisely.
The Commerce Secretary says America “needs to incentivise the manufacturing of chips” if the country wants the crisis to end.
She added that officials have been speaking with the impacted industries on a daily basis which has helped address the shortage from the ground up.
Whilst there have been reports that the sector is gradually improving, but the car manufacturing sector may still be impacted by delays.
Biden recently called for Semiconductor chips to be produced locally in the US, but this company is ignoring his plea.
Semiconductor manufacturer ‘Global Foundries’ has ignored US President Joe Biden’s request for new plants to be built locally amid the global chip shortage.
Construction will begin on the $4 billion Asian plant in 2023. This goes against the Biden administration’s wishes to return chip manufacturing to American soil.
The company will join rivals including ‘Samsung’ and ‘Taiwan Semiconductor Manufacturing Co’ which are all also trying to address the current chip shortage.
The President has been under increasing pressure to secure a constant supply of this crucial tech that is used in so many modern devices.
Money
Stocks rally ahead of Thanksgiving as markets log four days of gains
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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Money
Dow surges 500 points amid rate cut optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Money
Gold prices surge as Central Banks buy big, but risks grow ahead
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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