📈 Stocks / Finance

Super Micro Computer Shares Plummet Amid DOJ Investigation Reports

Yahoo finance

Super Micro Computer's stock dropped 10.8% in trading on Thursday, after falling as much as 18.6%, due to a report about a U.S. Department of Justice investigation into the company. The investigation is tied to allegations of accounting violations based on claims from a former employee and a report by short-seller Hindenburg Research, which also highlighted weaknesses in Supermicro's business.

Despite the negative news, there is no official confirmation of the DOJ's investigation yet, and the reliability of the claims made by Hindenburg Research remains uncertain. Investors are cautioned to consider the situation carefully before making any decisions regarding the stock.

Commerzbank and UniCredit: Talks Begin Amid Profit Boost

Reuters

Commerzbank plans to meet with UniCredit as the Italian bank explores a potential merger. Commerzbank raised its profit goals, expecting a 12.3% return on equity by 2027, boosting investor confidence. However, German political opposition remains strong, complicating the deal's prospects.

U.S. Crude Oil Prices Fall as Saudi Arabia Plans Production Increase

CNBC

U.S. crude oil prices dropped nearly 3% on Thursday due to news that Saudi Arabia plans to increase oil production later this year, potentially ignoring their $100 per barrel price target. They may boost production in December despite expected low prices. Additionally, Libya's oil production may rise after factions agreed on a new central bank governor, while demand in China remains weak despite a new stimulus package.

🪙 Crypto

BlackRock Report Highlights Bitcoin's Unique Role in Diversification Debate

Fortune

BlackRock's new report suggests that Bitcoin often behaves differently from traditional assets like stocks, making it a ""unique diversifier"" for investors. They say Bitcoin can act as a safe bet during political and economic uncertainty, similar to gold, particularly as concerns over the U.S. national debt grow.

Although Bitcoin's prices sometimes move with the S&P 500 in the short term, the report and finance experts like Iván Rodríguez argue that, over the long run, they may not be strongly related. BlackRock's Bitcoin ETF, known as iShares Bitcoin Trust, currently has $22 billion in assets, showing Bitcoin's increasing importance in investment portfolios.

🌎 Global Economy

China’s $142 Billion Plan to Revive Its Economy

Asia Times

China plans to inject $142 billion into its largest banks, aiming to boost lending and revitalize its slowing economy. The move targets sectors in need of capital, signaling a strong commitment to economic growth after challenges like a property market slump and investor concerns. While risks remain, this could be a major opportunity for global investors as China focuses on long-term recovery.

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