Markets
Nikkei 225
26,987.44
▼ -836.85 / -3.01%
SSE Composite
3,255.55
▼ -29.28 / -0.89%
IBOVESPA
103,292.86
▼ -2,177.37 / -2.07%
Straits Times
3,139.35
▼ -42.38 / -1.33%
BMV IPC
▲ +161.75 / +0.31%
▼ -419.08 / -0.86%
Dow Jones
30,709.75
▼ -683.04 / -2.18%
DAX 30
13,427.03
▼ -334.80 / -2.43%
BSE SENSEX
52,846.70
▼ -1,456.74 / -2.68%
FTSE 100
7,205.81
▼ -111.71 / -1.53%
JSE Top 40
60,074.62
▼ -1,273.57 / -2.08%
Last Week’s Highlights
Microsoft’s future looks promising
US-based, The Procter & Gamble Company, also known as P&G, will receive help from Microsoft Corporation to boost its digital manufacturing capabilities. Microsoft will help digitalize and integrate data from more than 100 P&G manufacturing sites around the world, enabling P&G employees to secure supply chain improvements and be more efficient in their decision-making. Microsoft’s chief commercial officer, Judson Althoff, says the partnership “will drive P&G’s growth and business transformation through digital technology that seamlessly connects people, assets, workflow and business processes that promote resilience.” Because of this deal, analysts are optimistic about the future of Microsoft’s stock; and also, because the tech giant expanded its partnership with Samsung. Xbox games will be available on 2022 smart TVs by the end of June.
Exxon’s reaching all-time high
The US oil company, Exxon Mobil Corporation, had the highest closing of all time. After going through several years of problems, and suffering negatively from the impact of the pandemic, Exxon has managed to recover positively. The company rose 1.2% to close at $104.59 on Wednesday, surpassing its previous closing high achieved eight years ago. The company’s stock has soared 68.12% this 2022. Analysts are bullish on Exxon shares for several reasons. Among that, is that the energy sector is the best performer in the S&P 500 index with a year-to-date gain of 65%, and that Brent crude oil rose more than 50% in 2022 and topped $100 per barrel for the first time since 2014. The conflict between Russia and Ukraine boosted the oil companies’ business.
Coming Up This Week
Google’s Android 13 on its way
Google is preparing its next big release and investors are optimistic about the future. Google’s stock was down 2% last Thursday, but the company announced that it launched Android 13 beta 3. Google is looking for a new and improved version of its operating system, so it has several changes, whether visual, privacy, or security enhancements. The company asked mobile application developers through a post on its blog to “start their final compatibility testing now and prepare to release their compatibility updates as soon as possible before the final release”. This innovation in the Android operating system motivates analysts. Several assume that Google’s average price at $3,245.48, has a potential upside of 41.3% from current levels. The company reached a level of stability with beta 3, so no major changes are expected for the final version of Android 13.
Tesla vehicles under investigation
The National Highway Traffic Safety Administration expanded its investigation on Tesla vehicles to 830,000 units. Several Tesla vehicles have crashed into parked vehicles, apparently because of problems with their “autopilot” function. If this engineering analysis deems the cars to be suboptimal for use, more than 830,000 vehicles could be recalled. This scenario would spell trouble for Tesla; however, analysts remain optimistic about the company’s stock. During the month of May, Tesla’s production at its Shanghai unit soared nearly 200%, manufacturing reached up to 33,544 vehicles. The company, not satisfied with that, expects to produce more than 71,000 vehicles at that plant during June.
