Breakfast News: Waymo Goes To Tokyo
December 17, 2024
| S&P 500 6,074 (+0.38%) |
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| Nasdaq 20,174 (+1.24%) |
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| Dow 43,717 (-0.25%) |
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| Bitcoin $105,835 (+2.83%) |
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Source: Image created by JesterAI.
1. Alphabet Wants to Become Big in Japan
Alphabet‘s (GOOG -0.67%) Waymo has confirmed it will begin testing robotaxis in Japan early next year, marking its first foray into international markets.
- Test zones designated for self-driving cars in Tokyo: Of all Alphabet’s various businesses, TMF contributor Will Healy recently said “the one [investors] should probably pay attention to is Waymo.” Fellow Fool Travis Hoium asserted 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 spreading around the country and really around the world.”
- “We’ll learn how Waymo can serve Tokyo’s residents and become a beneficial part of the city’s transportation ecosystem”: Management spoke about working with local partners to become more integrated, and will be hoping the blueprint can be used to roll out to other countries. The Rule Breakers rec hit a record stock price yesterday, but it wasn’t the only one…
2. MAG7 Fuel Fresh Nasdaq Rally
The tech-heavy Nasdaq index posted another fresh all-time high, driven by several other ‘Magnificent 7’ constituents reaching new levels, namely Tesla (TSLA 0.15%), Amazon (AMZN 0.01%), and Apple (AAPL 0.20%).
- Riding positive momentum: Tesla has been the standout performer over the past month, gaining 44% in value. All seven of its recommendations in Hidden Gems are beating the market (the first back in 2018 by 2,379%, while the most recent is ahead of the S&P 500 by 169% since April).
- Not invited to the holiday party: Nvidia (NVDA -0.02%) shares closed lower Monday, putting the stock officially in correction territory (down over 10% since last month's highs). Given the 166% gain this year, some profit-taking isn’t out of the ordinary.
3. Next Up: Consumer Data & Defense Earnings
Retail Sales data this morning will provide the last major data point for investors to digest ahead of the final U.S. Federal Reserve meeting of the year, beginning later today.
- Monitoring consumer activity: The November reading is forecasted to be a positive one at 0.5% growth month over month. This would mark a modest increase from the 0.4% October figure and a third consecutive month of growth. The indication of strong consumer spending would be another sign of a robust economy.
- No cyclical sector vulnerability noted: Up 45% in the past year, Stock Advisor rec Heico (HEI 0.68%) will release quarterly earnings after the market closes. Both revenue and earnings per share are forecasted to grow by double-digit percentage versus the same period last year, with a focus on new Government defense contracts and AI defense implementation.
4. A Dividend Story
Anthony Schiavone
Under the Radar
Abbott Laboratories (ABT 0.75%) isn't a recommendation on the Dividend Investor scorecard, but a press release celebrating its 53rd year of consecutive dividend increases is worth noting.
Specifically, the release mentions Grace Groner, a secretary that worked at Abbott for 40+ years. According to Abbott, "In 1935, Groner bought three shares of Abbott stock for $60 each. She consistently reinvested her dividend payments and quietly amassed a $7.2 million fortune" before leaving her entire estate to a foundation upon her passing in 2010. This shows the power of long-term dividend investing.
5. Foolish Fun
‘Tis the season for tax-loss harvesting! Are you selling any stocks to offset your gains? Which stocks and why? Discuss with friends and family, or become a member to hear what your fellow Fools are saying!
