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Dow futures fluctuate amid Bank of England reversal. Apple falls iPhone report, Biogen goes up on Alzheimer’s drug

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Dow futures fell in choppy trading Wednesday morning, along with S&P 500 and Nasdaq futures, after the Bank of England suddenly announced plans to buy long-term British bonds. The 10-year Treasury yield, which briefly exceeded 4%, initially declined. But the boost in stock futures and bond prices soon started to fade again.




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while, apple (AAPLIt is said to be limiting iPhone production. This iPhone report weighs heavily on Apple stocks and iPhone chip makers like Taiwan Semiconductor (TSM), from Broadcom (AVGO), Qualcomm (QCOM) And the qorvo (QRVO).

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Biogen (Bahrain Islamic Bank) and Japanese partner Isai reported that the Alzheimer’s drug reduced cognitive decline in late-stage trials. BisB’s stock increased.

Early Wednesday, Tesla’s competitor BYD (BYDDF) will be held a European launch event, with continued rapid global expansion. Starting China EV New (NIO) its own European event next week.

Bank of England buys bonds

The Bank of England announced that it will temporarily buy British long-term bonds, a major reversal of the central bank that has been tightening for months.

The British pound bounced briefly, but then came under pressure. Gilt bond yields fell sharply, but then pared losses.

The pound has fallen in recent days after new British Prime Minister Liz Truss announced a package of deficit-financed loans. British bond yields soared, straining the global financial system.

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Dow jones futures contracts today

Dow Jones futures are down 0.3% against fair value on the back of the Bank of England’s move, after initially turning positive. S&P 500 futures fell 0.6%. Nasdaq 100 futures are down 1.1%, but are still far from morning lows.

Futures contracts are definitely volatile.

Apple stock is a member of the Dow Jones, S&P 500, and Nasdaq Composite. Broadcom, Qorvo and QCOM stocks are in the S&P 500 and Nasdaq, along with TSLA stocks.

The 10-year Treasury yield reached 4.005% earlier in the morning, then fell to at least 3.88% as the Bank of England moved. But the return is 3.95%, from 3 basis points.

Markets are now split between the Fed’s November rate hike of 50 basis points versus 75 basis points, a shift over the past two days. Investors are now leaning slightly towards the year-end fed funds rate of 4%-4.25% versus the strong forecast of 4.25%-4.5% a few days ago.

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Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.


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stock market tuesday

The stock market closed mixed on Tuesday, but after a strong open it reversed rapidly lower, with the S&P 500 cutting off intraday bear market lows.

The Dow Jones Industrial Average fell 0.4% on Tuesday stock market trading. The S&P 500 was down 0.2%. The Nasdaq Composite Index is up 0.25%. Small cap Russell 2000 rose 0.3%.

The 10-year Treasury yield jumped 9 basis points to 3.96%, its highest level in 12 years.

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Apple iPhone Production Company

Bloomberg reports that Apple has asked suppliers to plan to buy 90 million iPhones in the current fiscal year. Tech giant Dow Jones had expected to produce six million more phones, but the expected surge in demand did not materialize, the latest sign of weak consumer electronics spending.

Apple’s stock was down nearly 4% before the opening.

Shares rose 0.7% to 151.76 on Tuesday, the second meager gain in a row. Stocks are still below the 50-day and 200-day moving averages. but the line relative force AAPL stock is at a record high, according to MarketSmith Analysis.

TSM, Broadcom, Qorvo and Qualcomm stocks all hit 52-week lows or near. Quasi-Taiwan shares are down about 4% in the primary market while Qualcomm and QRVO are down 3%. AVGO stock lost 2%.

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Biogen Alzheimer’s drug

Biogen and Eisai reported late Tuesday that lecanemab reduced cognitive and functional decline by 27% versus placebo in an 18-month phase III trial of early-stage Alzheimer’s disease patients.

Alzheimer’s disease drugs have been out of reach. The Food and Drug Administration, in a controversial move, last year approved aducanumab Biogen for Alzheimer’s disease despite concerns about its effectiveness. Medicare coverage is limited for aducanumab, severely limiting its use.

Biogen stock, after initially rising in June 2021 based on FDA approval, has tended to decline for several months.

Shares of Islamic International Investment Bank jumped 47% early Wednesday.

Eli Lilly (LLY), which is working on a similar treatment for Alzheimer’s disease, jumped 8%.

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Tesla vs. BYD: Which EV giant is the best one to buy?


BYD Europe launch event

China EV and battery giant held a virtual event to kick off its major European expansion, and released European pricing. BYD is currently selling the Tang SUV in limited quantities in Norway. The automaker will expand to Germany and most of Europe, adding the Han sedan and Ato 3 compact crossover to its options. With BYD aiming to at least double its 2023 sales to four million, it needs to gain a strong foothold in the world’s No. 2 electric vehicle market.

On October 7, Nio will be holding his own European event. It will showcase the 2022 models, the ET7 luxury sedan, ES7 SUV and ET5, the Tesla Model 3 competitor that begins delivery in China on September 30.

On October 1, Nio will release September and third-quarter deliveries, but the startup expects record sales each month in the fourth quarter. BYD is likely to release monthly and quarterly sales in a day or two. Both of them should be logs again.

Tesla should launch global production for the third quarter and deliveries over the weekend. Tesla should report record deliveries, but China’s order raises some concern.

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BYD stock fell 1.4% on Tuesday to 26.68, near four-month lows. Nio stock fell 2.4% to 17.19, still bottoming but falling more than the 200-day and 50-day lines.

Tesla stock rose 2.5% to 282.94 on Tuesday, although it hit resistance at the 50-day line. TSLA stock has 314.74 buying points from a short base within a long and deep consolidation.

Tesla fell slightly on Wednesday as Citigroup lowered delivery targets for the third quarter and said the fourth quarter was at risk.

Read The Big Picture Every day to keep up with the trend of the market, stocks and leading sectors.

Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.