Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money

71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5 Top Stories

Nvidia Drops on Curbs; Nio’s European Push; Meta in Court over Privacy.

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Nvidia Drops on New Chip Curbs

Washington is to tighten restrictions on chip exports to China, which will make it harder for US companies Nvidia [NVDA] and Intel [INTC] to access the huge Chinese market. Nvidia said the new rules would block sales of two high-end artificial intelligence (AI) chips it designed specifically for China. The Nvidia share price closed down nearly 5% on Tuesday after the news. Nvidia and Taiwanese iPhone-maker Foxconn [2354.TW] have announced they are to collaborate on building “AI factories”.

Nio’s European Push; BYD Profits Spike

Having launched in several European markets last year, Chinese electric vehicle (EV) maker Nio [9866.HK] is considering boosting sales growth by establishing a dealer network in the region, reported Reuters. Rival Chinese giant BYD [1211.HK] has said that its third quarter (Q3) net profit could see as much as a 102% increase year-over-year. Amazon [AMZN] announced it has acquired 10,000 electric delivery vehicles made by Rivian [RIVN]; it aims to have at least 100,000 in use by 2030.

Meta in Court over Privacy

Meta [META] lawyers were in court on Tuesday, pushing back against a US Federal Trade Commission (FTC) plan to tighten a 2019 privacy order; the FTC wants to step up safeguards related to minors, and ban making money off minors’ data. Elsewhere in social media, X, formerly Twitter, has said it is to trial a new, $1-per-year subscription model called ‘Not a Bot’, aimed at combatting bots and spammers.

Ernie 4.0 Fails to Wow

Investors were underwhelmed by Tuesday’s announcement that Baidu’s [9888.HK] AI bot Ernie 4.0 has caught up with OpenAI’s GPT-4; the firm’s Hong Kong-listed shares closed 1.7% lower, while its Nasdaq-listed shares dropped 4.1% overnight. At the WSJ Tech Live conference on Tuesday, Meta’s Chief Product Officer Chris Cox said AI chatbots will be increasingly attractive to enterprise customers: “One of the most profoundly impactful applications for the near term for AI is helping businesses be more effective.”

Microsoft/Amazon Partnership

In a deal worth more than $1bn, Microsoft [MSFT] is to add Amazon as a customer for its 365 cloud productivity tools, Reuters reported. The latter has signed up for over five years, securing one million Microsoft 365 license seats. Microsoft’s share price gained almost 1% on the news. The e-commerce behemoth will start integrating the new systems in November, according to an internal report seen by Reuters.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles