Advanced Micro Devices (AMD) has unveiled its new AI "superchip," the MI300X, which is expected to compete with Nvidia in the
 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

2023-06-16 | Sign Up | View Online | Advertise
Example logo
Market Snapshot 📷
S&P 500 4,425.84 +1.22%
Nasdaq 13,782.82 +1.15%
Dow 34,408.06 +1.26%
10-Year 3.718% -0.08%
Oil 70.56 +3.35%
Gold 1,970.40 +0.08%

*All data as of the previous day’s market close.

Markets & Economy
European Central Bank diverges from Fed, raising rates to highest in 22 years (2 min read)

The European Central Bank (ECB) has raised its key interest rate by 25 basis points to 3.5%, in contrast to the Fed's decision to pause rate hikes. Although the latest data shows a cooling down in prices, inflation remains well above the ECB's target of 2%. The ECB also revised its inflation and growth expectations, with higher inflation projections and lower growth forecasts. ECB President Christine Lagarde indicated that further rate hikes may occur in July, despite concerns about economic performance.
This is Why You Stay the Course (3 min read)

Last year was one of the worst years for financial markets, and many assumed that additional losses would likely follow. However, historical data shows that it is just as likely to have a massive rally after a bad year as well. So far this year, the S&P 500 has already surged above any of the bank strategists' price targets, which shows that even the pros have no idea what will happen next. This article advocates the importance of staying on the course of an investment plan and that doing less or nothing at all is often the right way forward for investors.
Business & Stocks
AMD confirms AI 'superchip' takes on Nvidia (2 min read)

Advanced Micro Devices (AMD) has unveiled its new AI "superchip," the MI300X, which is expected to compete with Nvidia in the growing artificial intelligence market. It will be AMD's most advanced graphics processing unit (GPU), which aims to accelerate the deployment of AMD AI platforms in the data center. While Nvidia currently dominates the AI computing market, AMD's new chip presents a potential challenger. Sales of the MI300X are projected to begin in Q4 this year and have a more significant impact in 2024.
Cava stock soars in its IPO debut (3 min read)

Cava, the Mediterranean fast-casual restaurant chain, had a successful public debut on NYSE on Thursday with its shares closing at $43.78, valuing it at approximately $4.8 billion. That nearly doubled the initial price of $22 which valued the company at $2.5 billion. Cava plans to use the proceeds to open new restaurants and for general corporate purposes. The IPO's success could pave the way for other food chains to follow suit. However, some analysts express caution about the valuation and recommend waiting before investing in the stock.
Funds & ETFs
Defiance Rolls Out Pure-Play Electric Vehicle ETF (2 min read)

Defiance ETFs has launched the Defiance Pure Electric Vehicle ETF (EVXX) to capitalize on the booming electric vehicle (EV) market. The fund invests in the five largest EV manufacturers, including Tesla and Nio, using an equal-weighted index of the companies through swaps. Despite thematic ETFs losing ground over the past year, the EV theme specifically has been growing rapidly and the market is expected to surge by 35% in 2023. Defiance ETFs believe that the Fed’s rate hike pause will also help drive more interest in this rising market.
India ETFs Appear on Verge of Breaking Out After Stealth Moves (2 min read)

India's stock market may be on the verge of a breakout, but it has largely gone unnoticed by many investors. While China and Japan receive more attention, India's market offers profitable companies trading at a significant discount. India's massive population and recent global manufacturing shift present an opportunity for economic growth and market mobilization. This article highlights ETFs focused on India, such as WisdomTree India Earnings Fund (EPI) and iShares MSCI India ETF (INDA), for those interested in allocating to this market.
That's it for today! You can reply to this email if you have any comments or feedback.

If you are interested in reaching an audience of investors, entrepreneurs, and financial professionals, you may want to advertise with us.

No longer want to receive these emails? Click here to unsubscribe.

©️ 2022 InvestorSnippets | 179 Enterprise Blvd, Markham, ON, L6G 0A2, Canada