Stock Market Today: 24 Nov 2021

These passive income powerhouses will bring in between $101 million and $904 million annually for Berkshire Hathaway.

A profit and revenue warning from social-media company Snap sends technology shares and the broader market tumbling after a strong rally Monday.

Monday’s bounce for Wall Street is set to give way to a weaker session for Tuesday, following a warning from Snapchat parent Snap.

(Bloomberg) — The selloff in equities will reach a bottom once the Federal Reserve signals the end of tightening, which may not happen until recession is apparent, according to Goldman Sachs Group Inc. Most Read from BloombergBroadcom in Talks to Acquire Cloud Company VMwareStocks Climb in Risk-On Day While Bonds Decline: Markets WrapBiden Misspeaks on Taiwan, Says US Military Would InterveneRussian Diplomat Quits in Rare Public Protest Over War in UkraineBiden’s Latest Taiwan Gaffe Stokes Tens

Snap says the economic outlook is getting worse faster than it expected. It will slow hiring and look for other ways to cut costs in the current year.

(Bloomberg) — Snap Inc. cut its revenue and profit forecasts below the low end of its previous guidance, sending shares plunging as much as 31% and pushing other social media stocks down.Most Read from BloombergBroadcom in Talks to Acquire Cloud Company VMwareStocks Climb in Risk-On Day While Bonds Decline: Markets WrapBiden Misspeaks on Taiwan, Says US Military Would InterveneRussian Diplomat Quits in Rare Public Protest Over War in UkraineWalmart’s Troubles Should Have Everyone on High AlertT

(Bloomberg) — Social media stocks are on course to shed more than $100 billion in market value after Snap Inc.’s profit warning, adding to woes for the sector which is already reeling amid stalling user growth and rate-hike fears.Most Read from BloombergBroadcom in Talks to Acquire Cloud Company VMwareStocks Climb in Risk-On Day While Bonds Decline: Markets WrapBiden Misspeaks on Taiwan, Says US Military Would InterveneRussian Diplomat Quits in Rare Public Protest Over War in UkraineWalmart’s T

Government borrowing last month fell £5.6bn from a year earlier to £18.6bn, new data showed.

Shares slid worldwide on Tuesday as disappointing company earnings and fears about slowing global economic growth punctured the mini-rally of the last few trading days. That followed a 1.2% fall in MSCI’s broadest index of Asia-Pacific shares outside Japan, while the benchmark STOXX index of European shares fell 0.92%. Citi analysts said their analysis showed bearish positioning on U.S. equity futures had started to stabilise, and those holding “short” positions were closing out those bets after making hefty profits.

In southern India, devoted fans worship film and TV stars like gods, erecting huge statues of actors which are bathed in milk as part of prayer rituals for a movie’s success. This is the market Netflix Inc, a streaming laggard in India, is now eager to tap. As prolific as Hindi-language Bollywood and known for flashy, action-packed content, the South Indian film industry is doing extremely well of late, dominating India’s box office revenue so far this year.

In southern India, devoted fans worship film and TV stars like gods, erecting huge statues of actors which are bathed in milk as part of prayer rituals for a movie’s success. This is the market Netflix Inc, a streaming laggard in India, is now eager to tap. As prolific as Hindi-language Bollywood and known for flashy, action-packed content, the South Indian film industry is doing extremely well of late, dominating India’s box office revenue so far this year.

Oil and gas producers have shifted their business models to prioritize profitability. The new philosophy has helped their stocks and financial results.

Asian shares slid on Tuesday as relief at a rally on Wall Street was punctured by a retreat in U.S. stock futures, while the euro held near one-month highs as odds narrowed on a July rate rise from the ECB. After ending Monday firmer, Nasdaq futures lost 1.5%, with traders blaming an earnings warning from Snap which saw shares in the Snapchat owner tumble 28%. EUROSTOXX 50 futures fell 0.5% and FTSE futures 0.6%.

While most corporate insiders at S&P 500 companies continue to be sellers, the opposite is true at smaller companies.

This week’s The Playbook Edition looks at the bleak outlook for more Covid-19 small-business funding, why return-to-office plans are stumbling and the challenges women are facing in the Covid-19 labor market.

Amazon shareholders will challenge the company on executive pay, tax transparency, working conditions and unionisation, as chief executive Andy Jassy faces his first annual meeting at the helm of the ecommerce and cloud computing giant. The $1tn tech company is opposing all 15 of the shareholder proposals, the most it has faced since 2010, according to regulatory filings. In that time, no proposal has secured 50 per cent support and voting has historically followed the board’s recommendations.

Let’s see if Olin (OLN) stock is a good choice for value-oriented investors right now from multiple angles.

Let’s see if Minerals Technologies (MTX) stock is a good choice for value-oriented investors right now from multiple angles.

The dollar hit a fresh one-month low on Tuesday as the euro extended gains while a broad selloff in stock markets failed to boost the U.S. currency’s safe haven appeal. The euro, which was the stand-out gainer on Monday after European Central Bank President Christine Lagarde indicated negative interest rates, a euro zone feature for eight years, will most likely be gone by the end of summer, extended gains. The single currency was up 0.4% at $1.0729 in early London trading as traders cut back some of their short bets after Lagarde said interest rates were likely to be in positive territory by the end of the third quarter.

The safe-haven dollar clawed back some of its overnight losses on Tuesday and the yen also strengthened as U.S. stock futures sank following a profit warning from Snapchat, souring the mood after Wall Street’s strong start to the week. The euro retreated 0.21% to $1.0672, although barely denting the 1.17% surge from Monday, when European Central Bank President Christine Lagarde said policymakers were likely to lift the euro area deposit rate out of negative territory by the end of September. The risk-sensitive Aussie dollar dropped 0.46% to $0.70775, and sterling declined 0.22% to $1.2558.