PlusMarkets Analysis • 25/10/2021
The Market data was collected on 25 October 2021 at 09:55, and might have changed since then. Kindly refer to the listed sources for the most recent and updated information.
U.S. electric car maker Tesla (NASDAQ:TSLA) Inc on Sunday rolled back the latest version of its Full Self-Driving (FSD) beta software, less than a day after its release, after users complained of false collision warnings and other issues.
The setback comes as Tesla is under regulatory scrutiny over the safety of its semi-autonomous driving technology, which it calls “FSD.”
“Seeing some issues with 10.3, so rolling back to 10.2 temporarily,” Chief Executive Elon Musk said in a Twitter (NYSE:TWTR) post on Sunday.
“Please note, this is to be expected with beta software. It is impossible to test all hardware configs in all conditions with internal QA (quality assurance), hence public beta,” he said.
Tesla did not immediately respond to requests for comment outside regular U.S. business hours.
The release of the new driving assist system to some owners of Tesla models, which the company said featured several improvements, had been announced for Friday, Oct 22.
The dollar slipped on Monday, as traders weighed the prospect of inflation hastening the pace of rate hikes outside the United States, with a wary eye on commodity prices, U.S. growth data and central bank meetings ahead in Europe, Japan and Canada.
The dip pulled the dollar index to a one-month low and extends softness after Federal Reserve Chair Jerome Powell said on Friday it not yet time to begin raising interest rates.
The greenback fell about 0.2% against the Australian and New Zealand dollars and about 0.1% to $1.1659 per euro. The dollar index edged down as far as 0.2% to 93.483. The yen, which leapt on Friday, eased slightly to 113.63 per dollar.
Powell’s remarks came as investors have priced in Fed rate hikes starting in the second half of next year and yet have begun to trim long dollar positions in anticipation that other central banks could get moving even sooner.
The Antipodeans, along with sterling, have bounded ahead this month as traders scrambled to price in higher rates while inflation runs hot, with markets now eyeing a near 60% chance of a Bank of England hike next week.
HSBC Holdings (NYSE:HSBC) reported a surprise 74% rise in third quarter profit as concerns about pandemic-related bad loan receded, allowing it to announce a share buyback of $2 billion.
HSBC however said its cost projections for 2022 had increased to $32 billion from $31 billion, due to the pressures of inflation.
“While we retain a cautious outlook on the external risk environment, we believe that the lows of recent quarters are behind us,” Chief Executive Neil Quinn said in the results statement on Monday.
Quinn, who was confirmed in the role in 2020 just as the pandemic-induced economic crisis began, is betting on Asia to drive growth, by moving global executives there and ploughing billions into the lucrative wealth business.
The bank posted pretax profit of $5.4 billion for the quarter to September, versus $3.1 billion a year earlier and the $3.78 billion average estimate of 14 analysts compiled by HSBC.
Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.
It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services