Flash News

TREE NEWS update: AIVA, a brand under Seres-backed Saidou Technology, has unveiled its first model, the AIVA ME7, in the latest product announcement from China’s Ministry of Industry and Information Technology. The battery-electric vehicle has a wheelbase of more than 3 metres.

TREE NEWS reports: US spot NEAR ETFs drew $2.6062 million in net inflows on Oct. 16, with Bitwise NEAR ETF (NRR) the sole gainer, bringing cumulative inflows to $83.05 million. Spot Zcash ETFs posted $1.2197 million in net outflows, all from Zcash ETF (ZCSH), with cumulative inflows at $163 million. NEAR ETF net assets stand at $82.36 million; ZEC ETF net assets at $625 million.

TREE NEWS reports: US stocks closed lower, with the Dow down 0.34%, the S&P 500 down 1.09% and the Nasdaq down 2.14%, while the VIX rose 21.45%. AI-linked shares led the decline: CoreWeave fell 11.91%, Twilio 10.62%, Super Micro 9.86%, Tempus AI 9.01% and Snowflake 8.43%. The data was sourced from MSX, an RWA trading platform that has listed hundreds of RWA tokens covering US equities and ETFs including Nvidia, GOOGL, MSFT, AMZN, META, TSM and AMD.

TREE NEWS update: Nvidia CEO Jensen Huang said at an event in Berlin that the current turmoil in the AI market will eventually pass and that artificial intelligence will have a profound impact on industries and the global economy, with the industry still in its early stages. Addressing the recent sell-off in AI chip and infrastructure stocks and concerns over rising financing costs and the sustainability of AI capital expenditure, Huang said short-term market moves do not change the industry’s long-term fundamentals and that large-scale hardware investment will ultimately pay off.

TREE NEWS reports: TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target on bitcoin treasury company Strive (ASST) to $56 from $44 on Friday, citing purchases that exceeded prior full-quarter forecasts. Strive’s bitcoin holdings rose to 35,595 from 28,000 at the end of September, worth about $2.9 billion and ranking fourth among listed companies. Strive also plans to expand its SATS preferred stock offering to 7 million shares at $90 each, targeting $630 million by Oct. 20.

TREE NEWS reports: Prediction market traders pushed the probability of a Tesla-SpaceX merger to above 50% for early 2027 after Barclays published a report Wednesday outlining a possible combination of the two companies. As of Friday morning ET, the odds of integration by March jumped to 56% from 29%, with April and May contracts rising to similar levels. The contract, “When will Tesla and SpaceX merge?”, will be verified via news media and the SEC’s EDGAR database.

TREE NEWS reports: The CDX high yield index fell 0.4 points to 105.84, with cash spreads widening 7.4 basis points to 362.9 basis points. Technology and communications were the worst-performing sectors, widening 13.8 and 11.8 basis points respectively, while senior financial debt tightened 5.8 basis points. Volume across CDX high yield series totaled $14.3 billion.

TREE NEWS reports: The CDX investment-grade index spread widened 1.8 basis points to 62.3 basis points, with technology the worst-performing sector at +3.0bp. Cash spreads also widened 1.8bp to 120.0bp. D.R. Horton and DXC Technology contracts performed best while Oracle and Netflix lagged, with CDX IG series volume at $53.2 billion.

TREE NEWS update: Apple said demand for its iPhone Duo is “absolutely phenomenal” as it works to deliver devices to consumers, and that it will continue accepting online orders. The company gave no figures for the device’s sales or shipment volumes.

TREE NEWS reports: Short sellers betting against semiconductor stocks have booked an estimated $32 billion in paper gains over the past seven days, as the Philadelphia Semiconductor Index fell more than 12%. The SOX benchmark declined for an eighth consecutive session on Friday, matching its longest losing streak since 2006. Semiconductors had been among the strongest performers in the U.S. equity market for most of the past year.

TREE NEWS update: Amazon Web Services’ chief financial officer said the spending boom in AI infrastructure and services is sustainable because it is generating innovation of real value. Some investors and analysts have begun to worry about an AI bubble, pointing to swelling debt, corporate valuations, circular financing deals and whether revenue growth can keep pace with the massive infrastructure buildout.

TREE NEWS update: Nvidia CEO Jensen Huang said the current turmoil in the AI market will pass, offering a public comment on recent volatility in AI-related shares. Huang did not give a timeline or further detail in the remarks. Nvidia is the largest supplier of AI accelerators and its shares have swung sharply alongside the wider AI trade.

TREE NEWS reports: On Friday, October 16, the Nasdaq 100 ETF closed down 2.5%, leading declines among most major US asset-class ETFs. The Barclays US Convertible Bond ETF fell 2.11%, the emerging markets ETF dropped 1.74%, the Russell 2000 ETF lost 1.69% and the S&P 500 ETF slipped 1.11%, while the 20+ year Treasury ETF rose 0.12% and the Brent oil fund gained 3.59%.

TREE NEWS reports: TD Cowen raised its price target on Strive by 27%, citing the company’s bitcoin buying spree, with the firm saying warrant-related stock pressure is easing. Strive plans fresh funding to purchase more bitcoin. The bitcoin-buying strategy and the warrant overhang were the focus of the TD Cowen note.

TREE NEWS update: Tesla has revealed a Rocket version of its new Roadster that flips through the air, jumps a row of Teslas and lands on SpaceX thrusters. The vehicle is invite-only, is not approved for public roads and is not due until 2028, the company said.

TREE NEWS reports: Most US sector ETFs closed lower on Friday, October 16, with the internet index ETF down 3.43%, the semiconductor ETF down 3.41%, the technology sector ETF down 3.02% and the global tech index ETF down 2.88%. The energy sector ETF was the outlier, gaining 2.52%.

TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index fell 0.56% on Friday, October 16, closing at 2,973.30 points, with losses continuing through the U.S. trading session. The index ended the week down 6.13%, its sixth decline in the past seven weeks and its steepest weekly drop since the week of June 26, when it fell more than 8.95%.

TREE NEWS reports: The Philadelphia Stock Exchange Bank Index notched its longest weekly losing streak since 2008. In Friday trading, Goldman Sachs fell 1.12%, Bank of America lost 0.91% and Morgan Stanley dropped 0.86%, while Citigroup gained 0.85%, JPMorgan Chase rose 1.25% and Wells Fargo added 1.35%.

TREE NEWS reports: CoreWeave closed down 12% on the day, extending its weekly decline to 25%. The slide marks one of the sharpest weekly drops for the AI cloud computing provider, whose shares have come under pressure amid a broader selloff in AI-linked equities.

TREE NEWS reports: US stocks closed lower on October 17, with the Dow down 0.48%, the Nasdaq down 2.39% and the S&P 500 down 1.14%. Crypto-linked names led the declines: Riot Platforms (RIOT) fell 11.22%, MARA dropped 9.61%, Strategy (MSTR) slid 9.45%, BitMine (BMNR) lost 7.26%, SanDisk (SNDK) fell 6.59% and SKHY declined 6.48%.