The financial world experiences ups and downs every day. In order to give readers an insight into what is happening in the stock markets, “Delfi Bizness” offers a summary of the events of the week (15.01.-19.01).
Rise and fall
The availability of “Bitcoin” ETFs in the US has been widely discussed in cryptocurrency and financial circles since last summer. As time went on and financial watchdogs showed more and more signs that such a product could reach the US markets, the prices of cryptocurrencies began to rise. In the year since January 2023, the price of “Bitcoin” has almost doubled, effectively ending the so-called crypto winter of 2022, when many cryptocurrency companies and coins collapsed.
Many assumed that the “Bitcoin” ETF would mark the influx of new money into cryptocurrencies and also increase people’s interest, which would lead to a rapid increase in the value of digital coins. However, it did not happen. On the contrary, “Bitcoin” has slipped into a downward trajectory.
Find out more.
Eat Tesla
A few years ago, in an interview, Elon Musk laughed at the question of whether the Chinese electric car manufacturer BYD, then completely unknown in the West, could overtake “Tesla”. Well, Musk is no longer laughing – the manufacturer of cheap batteries has grown into a dragon that is devouring Tesla’s market share.
However, according to analysts, there are several “buts”. Namely, the manufacturer’s excellent results are largely related to advantages in the domestic market, but in order for it to truly compete with Tesla, it will have to conquer Europe and the United States as well. But in these countries the advantage is starting to fade.
Find out more.
Short news from the markets
Prices go up. The Dow Jones Industrial Average rose 0.5% to 37,468.61 on Thursday night, the Standard & Poor’s 500 rose 0.9% to 4,780.94, and the Nasdaq Composite gained by 1.4% to 15,055.65 points. London’s FTSE 100 rose 0.2% to 7,459.09 on Thursday, Paris’ CAC 40 rose 1.1% to 7,401.35 and Frankfurt’s DAX rose 0.8% to 16,567. 35 points.
Microchips on top. Chip manufacturer Taiwan Semiconductor Manufacturing Company’s share price rose by nearly 10% on the New York Stock Exchange, as its profit beat forecasts.
Pushing. At the end of last week, “Microsoft” overtook “Apple” in the battle for the title of the world’s most valuable company. As a result of financial market fluctuations, the value of the iPhone manufacturer’s shares fell slightly, while the value of Windows owners rose. However, at the end of the week, “Apple” began to recover its positions.
Pushing 2. Last year, for the first time in history, Apple overtook South Korea’s Samsung Electronics Co. in the phone arena. and has become the largest smartphone manufacturer in the world, according to market research company “International Data Corp.” Information compiled by (IDC). Apple shipped 234.6 million smartphones last year, compared to Samsung’s 226.6 million.
Falling interest rates. The European Central Bank (ECB) could start reducing interest rates this summer, the president of the bank, Kristine Lagarde, announced on Wednesday, at the same time stressing that such action will depend on the latest economic data. “I would also say it is very likely,” Lagarde said. “But I also have to remain cautious because everything depends on the data and there is still uncertainty and some indicators have not yet stabilized at the level we would like them to be.”
Cotton Exchange. On Friday, “Nasdaq Riga” started the trading of bonds of hygiene products manufacturer “iCotton” on the “First North” Bond list of the exchange’s alternative market. 20,000 bonds with a nominal value of EUR 1,000 will be included in the stock exchange. The bond’s annual coupon rate will be 6% plus three-month Euribor (originally 9.975%). The maturity date of the bonds is June 30, 2027.
Thinking about retirement. The population’s attitude towards pension level 2 has become more positive over the past seven years, according to the “Swedbank” population survey. 44% of the population now consider the funds accumulated in the 2nd level of the pension to be their own money (in 2016, they were 30%). Of these, 14% regularly monitor their savings, while 30% do not really know how much they have managed to save so far. However, a relatively large part of the public is still skeptical, expressing the position that they do not consider pension level 2 as their money (43%).
Crypto miner attack. The number of attacks on digital devices to obtain their power for illegal “mining” of cryptocurrencies has significantly increased, according to “Tele2” data. In December last year, a total of more than 265,000 such attacks on the devices of “Tele2” customers were prevented, but the total number of attacks on citizens’ digital devices could be significantly higher, experts estimate. This type of cyber fraud is called cryptomining (coinmainer attacks or cryptojacking), as a result of which the operation of the device becomes significantly slower and the electricity consumption increases.
Price fluctuations
Can ‘ChatGPT’ make you rich? How to use artificial intelligence to make investments
Investing wisely means not only choosing the “best stocks”, but also regularly evaluating whether the selected stocks and other instruments bring planned profits and perform as expected. A smart investor should know not only when to keep shares, but also when to sell them. The head of “Future Capital” Konstantin Kuzikovs tells how, using publicly available information, “ChatGPT” and a little time, he planned his portfolio for 2024.
“Future capital” portfolios
In 2021, the host of the program “Nákotnes kapitāls” Konstantin Kuzikovs started investing 50 euros a week. He invests in stocks included in the “S&P 500” index, that is, in large, billion-dollar US companies. Kuzikovs also started investing in Latvian government savings bonds. On the other hand, his colleague Raivis Vilūns invests in cryptocurrencies, companies traded on the Baltic Exchange and crowdfunding platforms. Investors were also joined by a “robot” – SEB’s automated tool that invests money in exchange-traded electronic funds (ETFs). This is how all three portfolios fared last week:
- Konstantin Kuzikov: +3.79%
- Raivis Viluns: +9.45%
- “SEB Roboinvestors”: +8,33%
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2024-01-19 22:06:17
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