Daily US Stock Market News Briefing (March 20, Thursday)
Important News
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The number of initial jobless claims in the U.S. for the week ending March 15 was 223,000, expected 224,000, with the previous value revised from 220,000 to 221,000.
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EU Trade Commissioner: The EU is considering delaying the first round of counter-tariffs against the U.S.
Individual Stock News
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Pinduoduo (PDD.O) reported a net profit of 27.45 billion yuan for Q4 2024, compared to 23.28 billion yuan in the same period last year.
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OpenAI has launched the API for its reasoning model o1-pro, with prices for 1 million input/output tokens set at $150 and $600, respectively.
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NVIDIA (NVDA.O) CEO Jensen Huang denied reports about discussions between NVIDIA and companies like TSMC regarding forming a consortium to invest in Intel; the company plans to invest hundreds of billions of dollars in U.S. chip manufacturing over the next four years.
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IBM (IBM.N) is laying off thousands of employees in the U.S., including a quarter of its Cloud Classic division.
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Meta Platforms (META.O) will launch Meta AI in 41 European countries this week.
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According to The Information: Tesla (TSLA.O) plans to introduce a long-awaited battery innovation on its electric pickup Cybertruck later this year, which could significantly reduce manufacturing costs.
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Microchip Technology (MCHP.O): Closing and selling its wafer fabrication facility in Tempe.
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Tesla (TSLA.O) is recalling 46,096 vehicles in the U.S. due to detached panels that could pose a road safety hazard and increase the risk of collisions.
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Huya (YY.O) fell over 11% in pre-market trading, with Q4 revenue falling short of expectations and a decline in global average monthly active users.
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Trump is considering extending Chevron's (CVX.N) operating license in Venezuela