?? China’s BYD Launch EV Pickup Truck

S&P 500 5,211.49 +5.68 (+0.11%)

Dow Jones 39,127.14 -43.10 (-0.11%)

NASDAQ 16,277.46 +37.01 (+0.23%)

Market close: April 3, 2024

Breaking News

BYD plans to launch its first electric pickup truck this year stepping up the Chinese giant’s competition with global auto firms, from Ford to Tesla. CNBC reports.

The Warm Up

Buyback: Chinese internet giants are buying back their shares at record pace. Alibaba Group announced it had bought back $12.5 billion of shares from the U.S. and Hong Kong markets. CNN reports.

Stalling: General Motors reported a 1.5% decline in first-quarter U.S. vehicle sales compared to a year ago. GM’s sales are below expectations for the overall industry. CNBC reports.

Jobsurge: U.S. private payrolls increased more than expected in March, rising by 184,000 jobs and pointing to continued labor market strength. Reuters reports.

Moon-Zone: NASA has been directed to create a standard time zone for the moon. It will ensure communications are synchronized and data transfers in space are secure. Sky News reports.

Inside-out: Intel shares recently took a dip in the market. It comes after the company revealed a $7 billion operating loss in its foundry business. CNBC reports.

Walkout: Amazon is switching to self-checkout kiosks. The company is getting rid of the “Just Walk Out” technology at its U.S. grocery stores. ABC reports.

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Tech Thursday

OpenAI deems its voice cloning tool too risky for general release

A new tool from OpenAI that can generate a convincing clone of anyone’s voice using just 15 seconds of recorded audio has been deemed too risky for general release, as the AI lab seeks to minimize the threat of damaging misinformation in a global year of elections. Voice Engine was first developed in 2022 and an initial version was used for the text-to-speech feature built into ChatGPT, the organization's leading AI tool. But its power has never been revealed publicly, in part because of the “cautious and informed” approach that OpenAI is taking to release it more widely.

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Save My Seat

Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on April 3.

(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)

1. $ABIO: ARCA biopharma

Total gain: (88%)

ARCA biopharma and Oruka Therapeutics announce a merger agreement. Benzinga reports.

2. $ACB: Aurora Cannabis

Total gain: (44%)

The company recently released a press release that applauded the German government's final endorsement of cannabis legalization. Benzinga reports.

3. $XTIA: XTI Aerospace

Total gain: (31%)

The stock appeared to be moving on no notable news.

Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

CLGN CollPlant Biotechnologies

4Q 2023

Before Market Open Estimate: -0.07 Actual: -0.35

RPM RPM International

3Q 2024

Before Market Open Estimate: 0.46 Actual: 0.52

SMPL Simply Good Foods

2Q 2024

Before Market Open Estimate: 0.38 Actual: 0.40

Today’s Key Economic Dates

Time (ET) / Report / Period

8:30 am Initial Jobless Claims

8:30 am U.S. Trade Balance

February

12:45 pmC\ hicago Federal Reserve President, Austan Goolsbee, speaks

Extra-Time

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Parting Thoughts

“Why do casinos make consistent money on an event that has a random outcome? Because they know that over a series of events, the odds are in their favor.”

― Mark Douglas

Sourced in: Master the Market with Confidence, Discipline, and a Winning Attitude By Mark Douglas · 2001

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