Daily Updates: Waymo Makes Its Debut in Tokyo
| || --- || S&P 5006,074 (+0.38%) || Nasdaq20,174 (+1.24%) || Dow43,717 (-0.25%) || Bitcoin$105,835 (+2.83%) |
1. Alphabet Seeks Expansion in Japan
Google's autonomous vehicle unit, Waymo, is planning to commence testing self-driving cars in Japan by early 2023, marking its first venture into international markets.
- Designated testing zones for autonomous vehicles in Tokyo: Among Alphabet's various businesses, TMF contributor Will Healy recently suggested that investors should keep an eye on Waymo, arguing that it's a "good business that we're going to see more and more, not just in San Francisco and Phoenix, it's going to be expanding throughout the country and globally." Fool writer Travis Hoium echoed this sentiment, predicting that Waymo's services will expand beyond its current operations in San Francisco and Phoenix.
- "Learning how Waymo can serve Tokyo's residents and become an integral part of the city's transportation ecosystem": Management has discussed working with local partners to become more integrated in the Japanese market, and hopes to leverage the blueprint developed in Tokyo to expand to other countries. The Rule Breakers pick hit a record stock price yesterday, but it wasn't the only one...
2. MAG7 Sparks Nasdaq Rally
The Nasdaq index set a new all-time high following strong performances from several of its 'Magnificent 7' constituents, including Tesla (TSLA 3.74%), Amazon (AMZN -0.75%), and Apple (AAPL 0.86%).
S&P 5006,074 (+0.38%)
- Capitalizing on positive momentum: Tesla has been the standout performer over the past month, increasing in value by 44%. All seven of its Hidden Gems recommendations have outperformed the market, with the first recommendation made in 2018 returning 2,379% and the most recent recommendation ahead of the S&P 500 by 169% since April.
- Absent from the holiday party: Nvidia (NVDA -1.78%) shares fell on Monday, putting the stock in correction territory (down over 10% since its highs at the end of last month). While some profit-taking isn't unexpected given Nvidia's strong performance this year, the stock was up 166% for the year prior to its recent decline.
3. Consumer Data and Defense Earnings on Deck
Nasdaq20,174 (+1.24%)
Today's retail sales data will be the final major economic data point for investors to consider before the final U.S. Federal Reserve meeting of the year.
- Assessing consumer spending: The November reading is projected to be 0.5% growth compared to the previous month. If the estimate is accurate, it would represent a modest increase from the 0.4% growth recorded in October and mark the third consecutive month of growth. Strong consumer spending is a positive indicator of a healthy economy.
- Stable earnings performance expected: Home improvement retailer Heico (HEI -0.92%) is scheduled to report quarterly earnings after the market closes. Both revenue and earnings per share are predicted to post double-digit percentage growth compared to the same period last year. The company expects to benefit from new government defense contracts and the implementation of AI in defense technology.
Dow43,717 (-0.25%)
4. A Dividend Success Story
Anthony Schiavone
Bitcoin$105,835 (+2.83%)
Off the Radar
Abbott Laboratories (ABT 0.51%) may not be a recommendation on the Dividend Investor scorecard, but its recent announcement of 53 consecutive years of dividend increases is noteworthy. The release highlights the case of Grace Groner, a 40-year employee of Abbott who purchased three shares of the company's stock for $60 each in 1935. Groner consistently reinvested her dividend payments and amassed a $7.2 million fortune by the time of her passing in 2010. This example underscores the power of long-term dividend investing.
Off the Radar is our newest digest section that aims to highlight important trends and events that may be under-reported or overlooked.
5. Foolish Fun
Tax-loss harvesting season is here! Are you disposing of any stocks to offset your gains? Share your strategy and join the discussion with our community, or become a member to gain access to our active forum and learn from your fellow investors!
- For effective investment strategies, it's worth considering diversifying funds into technologies like self-driving vehicles, such as Waymo, which is planning to test its cars in Japan by early 2023, potentially tapping into a lucrative finance market.
- In light of Tesla leading the charge in the Magnificent 7, investors might also consider exploring opportunities in the finance sector, as companies like Nvidia, despite a recent correction, still offer appealing prospects due to their strong performance throughout the year.
