(RTTNews) – Stocks moved sharply higher during trading on Monday, extending the strong upward move seen over the past few sessions. The continued advance once again lifted the major averages to their best closing levels in over a month.

The major averages gave back some ground in the latter part of the trading day but remained firmly positive. The Dow advanced 250.62 points or 0.9 percent to 28,837.52, the Nasdaq spiked 296.32 points or 2.6 percent to 11,876.26 and the S&P 500 jumped 57.09 points or 1.6 percent to 3,534.22.

Technology stocks helped to lead the markets higher, as reflected by the significant advance by the tech-heavy Nasdaq.

Apple (AAPL) posted a standout gain, surging up by 6.4 percent, while Facebook (FB) and Google parent Alphabet (GOOGL) also moved notably higher.

Shares of Twitter (TWTR) also showed a strong move to the upside after Deutsche Bank upgraded its rating on the social media giant to Buy from Hold.

The markets also continued to benefit from optimism about a new stimulus bill even though House Speaker Nancy Pelosi said talks will “remain at an impasse” until “serious issues” with the Trump administration’s latest proposal are resolved.

The White House has increased its offer to $1.8 billion in its latest proposal, but Pelosi still called the administration’s proposed bill “grossly inadequate.”

“The news is filled with the numbers in terms of dollars. The heart of the matter is: can we allow the virus to rage on and ignore science as the Administration proposes, or will they accept the scientific strategic plan in the Heroes Act to crush the virus,” Pelosi said in a letter to her Democratic colleagues.

“We have other differences in terms of who benefits from the spending,” she added. “But in terms of addressing testing, tracing and treatment, what

By Medha Singh

Oct 12 (Reuters)The tech-heavy Nasdaq led Wall Street’s main indexes higher on Monday as optimism about an agreement in Washington over more fiscal support lifted sentiment ahead of the start of quarterly corporate earnings.

Apple Inc AAPL.O provided the biggest boost to the three main stock indexes with a 3.7% gain ahead of a special event on Tuesday, which most analysts believe will be used to unveil the new iPhone with 5G capabilities.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

“(President Donald) Trump is falling behind in opinion polls and seems desperate for a deal, so either some agreement will be hammered out soon or the Democrats could win a decisive victory at the ballot box and ultimately deliver an even greater stimulus package,” said Marios Hadjikyriacos, investment analyst at online broker XM in Cyprus.

A recent Reuters/Ipsos poll showed Americans were steadily losing confidence in Trump’s handling of the COVID-19 pandemic, with his net approval on the issue hitting a record low.

Growing expectations of a Democratic victory in next month’s presidential election as well as bets of fresh federal aid have sent Wall Street’s main indexes to one-month highs.

With the Oct. 15 presidential debate officially canceled, Trump plans to travel to key battleground states this week as his doctor declared he was no longer a transmission risk for the novel coronavirus.

Results from big U.S. banks will be in focus this week, with JPMorgan & Co JPM.N and Citigroup C.N set to report on Tuesday. Bank shares were flat to slightly higher in premarket trading.

Goldman Sachs Group Inc GS.N, which reports on Wednesday, is considering whether to scale back financial targets set



a sign on the side of a building: The headquarters of QuantumScape (KCAC) in San Jose, California.


© Source: Tada Images / Shutterstock.com
The headquarters of QuantumScape (KCAC) in San Jose, California.

Investors considering making an investment in Kensington Capital (NYSE:KCAC) should understand that they are exercising an appetite for risk. Kensington Capital will take QuantumScape public through a reverse IPO. QuantumScape is a 10-year old battery startup out of Silicon Valley which will form a joint venture (JV) with Volkswagen (OTCMKTS:VWAGY). The JV will produce solid-state batteries first for application in Volkswagen vehicles, and later for other manufacturers.



a sign on a window: The headquarters of QuantumScape (KCAC) in San Jose, California.


© Provided by InvestorPlace
The headquarters of QuantumScape (KCAC) in San Jose, California.

Thus, an investment in KCAC stock is an investment in an unproven technology in solid-state batteries. Further, it is an investment in a JV collaboration which is wrapped up within a shell company in Kensington Capital. 

When the deal closes later this year the new equity will trade under the ticker QS on the New York Stock Exchange. 

Big Names on Board

Volkswagen is central to this deal, but Kensington Capital has several other big name investors on board with its stock. Portfolio companies Kleiner Perkins and Khosla Ventures have invested. Bill Gates and the Qatar Investment Authority have invested. Also within the auto industry, Shanghai Autos and Continental have invested. 

The reason this is important for investors to take note of is because such announcements may bolster individual investors’ risk propensity. I mention this to provide a word of caution. When potential investors read that these big names are on board with KCAC it lends authority to it as an investment. And big name authority is a very effective form of persuasion. 

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Venture Capital Investment vs. Individual Investment

However, we individual investors are simply different than the massive entities listed above. We are likely to be much more

(Reuters) – Tesla Inc <TSLA.O> Chief Executive Elon Musk said on Wednesday the company will produce Model Y with a new structural battery design and technology at its Berlin factory next year and that could result in a “significant production risk”.

The U.S. electric carmaker plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Last month, Musk said that Tesla will use its Germany-based plant to demonstrate a radical overhaul of how its cars are built.

The company plans to start the production of Model Y at Gigafactory Berlin during the second half of 2021.

Tesla’s new battery cell – a larger cylindrical format called 4680 that can store more energy and is easier to make – is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by 2030.

The company’s new structural battery pack requires the new 4680 battery cells in order to work.

Musk said on Wednesday that it will take about two years for Tesla factories in Fremont and Shanghai to embrace the new technology.

“Fremont and Shanghai will transition in 2 years when new tech is proven,” Musk said in a tweet https://bit.ly/2I8Gam3.

The company said last week that it delivered 139,300 vehicles in the third quarter, a quarterly record for the electric carmaker.

Tesla’s delivery push has been supported by its new Shanghai factory, the only plant currently producing vehicles outside California, as it is also building a new vehicle and battery manufacturing facility near Berlin.

(Reporting by Sabahatjahan Contractor and Kanishka Singh in Bengaluru, Editing by Sherry Jacob-Phillips)

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(Reuters) – Tesla Inc

Chief Executive Elon Musk said on Wednesday the company will produce Model Y with a new structural battery design and technology at its Berlin factory next year and that could result in a “significant production risk”.

The U.S. electric carmaker plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Last month, Musk said that Tesla will use its Germany-based plant to demonstrate a radical overhaul of how its cars are built.

The company plans to start the production of Model Y at Gigafactory Berlin during the second half of 2021.

Tesla’s new battery cell – a larger cylindrical format called 4680 that can store more energy and is easier to make – is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by 2030.

The company’s new structural battery pack requires the new 4680 battery cells in order to work.

Musk said on Wednesday that it will take about two years for Tesla factories in Fremont and Shanghai to embrace the new technology.

“Fremont and Shanghai will transition in 2 years when new tech is proven,” Musk said in a tweet https://bit.ly/2I8Gam3.

The company said last week that it delivered 139,300 vehicles in the third quarter, a quarterly record for the electric carmaker.

Tesla’s delivery push has been supported by its new Shanghai factory, the only plant currently producing vehicles outside California, as it is also building a new vehicle and battery manufacturing facility near Berlin.

(Reporting by Sabahatjahan Contractor and Kanishka Singh in Bengaluru, Editing by Sherry Jacob-Phillips)

Copyright 2020 Thomson Reuters.

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