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STOCK MARKET UPDATE | Dow Set A Record Closing High, Nasdaq Dips | TESLA Races To New All-Time High - YouTube
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hello folks stocks were mixed on friday
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as investors reacted to new commentary
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from jerome powell
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amid the earnings reports stocks dropped
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during after-hours trading due to the
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prospect of fed tapering purchases
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the dow jones industrial average reached
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a new high beating its previous record
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close from august 16th
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the s p 500 retreated after setting a
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fresh intraday high
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the fed is coming close to ending
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quantitative easing and reducing the 4.5
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trillion dollars in debt it bought after
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the crisis
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the central bank has been on track to
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wind down qe by late next year according
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to powell this week during a virtual
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event hosted by treasury secretary steve
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mnuchin
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the fed has repeatedly hinted that the
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economy is approaching the threshold
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that would justify decreasing emergency
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asset purchases
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powell also predicted that inflation in
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the u.s will last longer than we had
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originally anticipated and will last
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until at least next year
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the nasdaq lagged behind following two
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disappointing call reports from leading
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technology companies
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on wednesday snap shares tumbled by more
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than 27 percent after the company posted
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lower than expected revenue numbers
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the company is also forecasting weaker
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average revenue per user for the fourth
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quarter likely due to apple's update
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limiting third-party apps access to
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contact data
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the share market is down because of this
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with some companies like facebook and
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alphabet taking a hit
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shares of intel intc also dropped after
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the company said margins would be under
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pressure for the next up to three years
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in part reflecting challenges from
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global material shortages
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though chipotle's share prices
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experience some volatility due to the
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company's quarterly same store sales it
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should be noted that chipotle flagged
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widespread staffing shortages as a major
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impediment for the quarter
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the s p 500 and dow jones are continuing
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to reach new highs despite some recent
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mixed results
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despite the bad press these companies
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have just continued to perform well
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the economy is strong and that's
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something you can take advantage of
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both measures have helped to overcome
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concerns in a market with slowing growth
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after reopening activity in the
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beginning of the year
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new labor market data showed weekly
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jobless claims dropping to their lowest
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level for march 2020 last week
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the layoffs and other involuntary
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separations continue to slow down in the
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labor market
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national home prices are still climbing
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and recent figures show that demand is
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still strong
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home sales rose for the first time since
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september 2020 showing more people are
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buying property than letting it sit on
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the market
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based on their latest quarterly results
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many companies have been able to
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increase their profits in the face of
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increasing input and labor costs as well
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as supply chain challenges
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investors are hoping for more
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reassurance on the solid trends seen so
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far in corporate profits next week with
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a strong set of third quarter earnings
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results due for release
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the index components like apple amazon
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and facebook are expected to report
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their quarterly earnings next week
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dow jones s and p 500 and nasdaq futures
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will be opening sunday night
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the stock market rally was strong this
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week with the dow jones and s and p 500
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reaching all-time highs
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the nasdaq composite moved closer to
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record levels despite rising treasury
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yields and friday's big sell-offs by
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intel and snap
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next week's earnings season many
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companies will be releasing reports it's
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a busy time for any company to release
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their numbers but it also provides an
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opportunity to see how close they are to
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meeting expectations
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there will be apple aapl
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microsoft msft advanced micro devices
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amd general motors gm upwork
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upwk servicenow now and google parent
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alphabet
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gogl are seven big names on tap that are
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in or nearby zones
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these stocks like snap or facebook for
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instance can make or break other
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industries and stocks alike
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just ask google and snap who've both
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seen their own and other stocks soar
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tesla raced to a new all-time high as
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the profitability story that analysts
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and investors have been waiting for
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finally took hold
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tesla stocks hit a new intraday high of
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903 dollars and three cents yesterday
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and has since settled back but some
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analysts think it's again due to the
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fact that tesla's earnings largely
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impressed in regards to margins and
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china sales
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tesla is now worth nearly 902 billion
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dollars according to the latest relevant
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statistics
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the ev sector is having a bad day and
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although some chinese companies like li
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auto xbang and neo are holding their own
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faraday future intelligent electric is
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outperforming
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tesla has really passed the
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profitability test in comparison to
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other car companies
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it's worth an a-plus when you compare
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its metrics i'm going to talk about
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tesla's earning that made this stock hit
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all-time high
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tesla reported revenue of 13.8 billion
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dollars on wednesday after record
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earnings
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they increased revenue by 57 year over
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year and adjusted earnings per share
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rose 145
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these results compare favorably to
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analysts consensus forecasts for revenue
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and adjusted earnings per share of 13.6
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billion dollars and 1.59
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respectively companies increased sales
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and robust financial standing despite
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the difficult operating environment show
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their remarkable progress
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tesla cfo zach kirkhorn said a variety
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of challenges including semiconductor
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shortages congestion at ports and
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rolling blackouts have been impacting
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our ability to keep factories running at
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full speed
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we believe our supply chain engineering
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and production teams have been dealing
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with these global challenges with
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ingenuity agility and flexibility that
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is unparalleled in the automotive
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industry
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tesla didn't share much information
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about q4 deliveries but they are still
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on pace to increase their total
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deliveries this year by more than 50
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percent over 2020
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tesla's management said in the company's
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third quarter earnings call that tesla
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exited q3 at an annualized production
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run rate of more than 1 million vehicles
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zac kirkhorn added that the increase in
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production rate has primarily been
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driven by further ramping up of model 3.
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thank you for following
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[Music]
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you
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