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TradeUP Thursday
Feb 15, 2024
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• What is the impact following the January CPI report?
• Why did Uber recently reach a record high?
• What did Nvidia disclose yesterday?
Dow Jones S&P 500 Nasdaq
38,424.27 (+0.40%) 5,000.62 (+0.96%) 15,859.15 (+1.30%)
Opening price as of 02/15/2024 compared to last close
Fed Rate-Cut Expectations Trimmed After January CPI Report
The U.S. January Consumer Price Index (CPI) report surpassed expectations, reducing prospects for an immediate Federal Reserve rate cut. With CPI at +3.1% year-on-year, surpassing the expected +2.9%, and the core CPI at +3.9%, the 10-year Treasury note yield rose to 4.330%, impacting expectations for a rate cut. The likelihood of a March rate cut declined from 70% to 11%, and the market now anticipates the first cut in June. Investors currently factor in three rate cuts for the year, with a 70% chance of a fourth. Despite this shift, analysts note that the robust U.S. economy diminishes the appeal of Treasuries. The repercussions of this CPI report may influence an increase in the January core PCE, potentially postponing the Fed's rate cut decision until June. Read more

Uber Hits Record High After Unveiling First-Ever $7 Bln Share Buyback
Uber reached a record high on February 14 following its announcement of a landmark $7 billion share buyback, driven by a strong resurgence in ride-share revenue. This milestone coincides with the company's first annual net profit since its initial public offering in 2019. The buyback reflects Uber's confidence in its financial trajectory and operational efficiency. Investor sentiment was notably positive, leading to a 12% surge in shares on the same day when drivers for Uber, Lyft (LYFT.O), and DoorDash (DASH.O) planned a one-day strike demanding fair pay. Uber's 2023 free cash flow surged to $3.4 billion from $390 million in the previous year, signaling a robust recovery in the ride-share market. The buyback marks a significant departure from Uber's previous cash-burning startup image, potentially propelling the company's market value beyond $150 billion. Read more

Smaller AI Firms Surge After Chip Giant Nvidia Discloses Stake
Shares of five smaller AI firms experienced a surge in pre-market trading on February 15 following Nvidia's disclosure of stakes in them, providing valuable insights into its growth strategy. Nvidia, now the third most valuable U.S. company due to heightened demand for its data center chips, invested $147.3 million in Arm Holdings, $76 million in Recursion Pharmaceuticals, nearly $3.7 million in SoundHound AI, and an undisclosed amount in Nano-X Imaging and TuSimple Holdings. These investments resulted in significant increases in the shares of these companies. Chairman Thomas Hayes of Great Hill Capital highlighted Nvidia's collaborative approach, emphasizing opportunities for joint projects. The disclosure was part of a 13-F filing with the U.S. SEC as of December 31. Notably, SoundHound's shares were particularly active, trading nearly three times its 25-day moving average. Read more

Tax Season: What is Tax-Loss Harvesting

“Tax-loss harvesting can help some American taxpayers save more on their investments.” 
— Goldman Sachs Asset Management Managing Director Aron Kershner explains the fundamentals of tax-loss harvesting.
Watch the Full Video



A stock buyback, or share repurchase, occurs when a company buys back its shares from the market using company funds. It is one way for a company to re-invest in itself. The repurchased shares are referred to as treasury stock and may be re-sold to the investing public later or used for a variety of other purposes such as conversions of convertible bonds.

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