Nvidia offers new advanced chip in China that meets export rules (3 min read)
Nvidia is the first US semiconductor company to have created a new advanced chip for China that meets the recent export control rules. The new chip can be used in place of the previous chip that was banned for export. It was reported that Chinese companies are already advertising products with the new chip. Nvidia had said the export limitation could cost the company $400 million of revenue in Q3 but the new replacement chip may lessen some of the financial blow.
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Disney missed revenue but strong streaming platform growth (2 min read)
Disney’s recent quarterly earnings and revenue fell short of expectations. They were dragged down by Disney+ service where it lost $1.47 billion during the quarter. However, the platform’s subscription growth was stronger than estimated. It added 12.1 million new subscribers, about 4 million more than analysts expected. Disney CEO said they are raising the price of Disney+ and adding an ad-tier which is expected to boost revenue and achieve profitability in 2024.
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Midterm elections have little impact on the stock markets (4 min read)
Many investors had their eyes on the US midterm elections on Tuesday as they hope the outcome will be favorable to the stock market. Historically, stocks tend to perform better after elections because it provides clarity. While that may or may not happen, the market movements that follow are usually short-lived. What matters in the long run are variables like the health of the economy, corporate earnings, equity valuations and interest-rate policy.
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UBS said the S&P 500 could continue to plunge (2 min read)
UBS forecast the S&P 500 could fall for another 16% from the current level. They expect the slowdown in economic growth to keep on dragging stocks lower until the second quarter of next year. UBS believes that as rate hikes continue, it will reach a period of disinflation sometime in 2023 where the Fed needs to cut rates to stimulate economic growth. When that happens, UBS said it will be the switching point that brings stocks back up from the bottom.
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These 3 Dividend ETFs Are a Retiree's Best Friend (4 min read)
This article highlighted three low-volatility dividend ETFs that may be suitable for investors looking for a regular income stream while taking on less risks. They are iShares Core High Dividend ETF (HDV), TrueShares Low Volatility Equity Income ETF (DIVZ), and Invesco S&P Ultra Dividend Revenue ETF (RDIV). All three ETFs had outperformed the S&P 500 this year in terms of share appreciation and dividend yield. More details on each ETF are available in the article.
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Short-ARKK ETF celebrates first year with stellar performance (1 min read)
The AXS Short Innovation Daily ETF (SARK) is the first ETF that tracks the inverse performance of Cathie Wood’s flagship fund, ARK Innovation ETF (ARKK). Since launched a year ago, SARK has generated more than 110% in returns and is the second best performing among 450 ETFs launched during the same period. Rising rates this year have severely damaged ARKK’s tech holdings which led to SARK’s strong performance. This shows the importance of timing in inverse ETFs.
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That's it for today! You can reply to this email if you have any comments or feedback.
Thanks,
Thomas
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