Stock News

US Eyes Samsung, Taiwan Semiconductor, Qualcomm After Restricting Chinese Semiconductors

0

S&P Futures

3,719.75

+30.50(+0.83%)

 

Dow Futures

30,443.00

+213.00(+0.70%)

 

Nasdaq Futures

11,207.00

+96.75(+0.87%)

 

Russell 2000 Futures

1,756.40

+14.40(+0.83%)

 

Crude Oil

85.73

+0.27(+0.32%)

 

Gold

1,657.00

-7.00(-0.42%)

 

Silver

18.66

-0.06(-0.34%)

 

EUR/USD

0.9850

+0.0006(+0.06%)

 

10-Yr Bond

4.0150

+0.0050(+0.12%)

 

Vix

31.37

-0.65(-2.03%)

 

GBP/USD

1.1362

-0.0000(-0.00%)

 

USD/JPY

148.8670

-0.0890(-0.06%)

 

BTC-USD

19,585.96

+354.30(+1.84%)

 

CMC Crypto 200

445.99

+10.52(+2.42%)

 

FTSE 100

6,920.24

+61.45(+0.90%)

 

Nikkei 225

27,157.71

+381.92(+1.43%)

 

The U.S. International Trade Commission decided to investigate Samsung Electronics Co, Ltd (OTC: SSNLF) and Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) for alleged violations in the import and sale of specific semiconductor devices, mobile devices, and components that infringe patents.

The regulators will also investigate Qualcomm Inc (NASDAQ: QCOM), Reuters reported.

Also Read: China’s Semiconductor Industry ‘Decapitated Overnight’: What ‘Annihilation Looks Like’

Shares in top Chinese chipmakers shed $7.7 billion in market value on October 10, as new U.S export controls restricted the sale of semiconductors made with U.S. technology without a valid export license.

The controls also barred U.S. citizens or entities from working with Chinese chipmakers without explicit approval and limited the export of manufacturing tools.

Samsung bagged a one-year immunity from the new U.S. embargo on exports of advanced chips and related equipment to China.

Price Action: TSM shares traded higher by 1.50% at $64.89 on the last check Monday.

See more from Benzinga

Top Indian Telecom Provider Inks 5G Contracts Wih Ericsson, Nokia

Apple Supplier TSMC Is ‘Attractive’ Analyst Says. What Results May Mean For iPhone Maker

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Reuters

U.S. Speaker Pelosi’s husband sold Nvidia, Micron options at a loss

U.S. House Speaker Nancy Pelosi’s husband sold call options in chipmakers Micron Technology and Nvidia for a loss of under $1 million, according to a new transparency filing. In a periodic transaction report dated Friday, the senior Democrat disclosed that her husband, financier Paul Pelosi, lost $392,575 in the sale of Micron call options he had purchased in December 2021. The report also showed he sold Nvidia call options bought in July 2021 for a loss of $361,476.

Benzinga

Taiwan Semiconductor Correction Is Incoming In Q1, Analyst Says

Needham analyst Charles Shi reiterated Buy on Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) and a $110 price target. Shi added TSMC to the Needham Conviction List, replacing FormFactor, Inc (NASDAQ: FORM). Shi saw a positive risk-reward as he updated the bull-bear debate. Shi’s bullish call on TSMC’s double-digit growth in 2023 met with pushback. Investors have expressed uneasiness about TSMC’s 1H23 despite the general optimism about 2H23 and 2024. Shi adds demand-side analysis to b

Bloomberg

The Time to Buy the Dip Is Fast Approaching — for One Country

(Bloomberg) — Investors are looking beyond a looming global recession and they see one country – and its financial markets – emerging strongest on the other side.Most Read from BloombergRussia Hits Ukrainian Capital Kyiv With Kamikaze DronesS&P 500 Bounces Off Make-Or-Break Technical Level: Markets WrapThe Time to Buy the Dip Is Fast Approaching — for One CountryGoldman Shakes Up Leadership Ranks in Yet Another OverhaulUS stocks and bonds will lead the way out of the current wave of market turm

Reuters

IMF’s Gopinath: Fed and ECB right to tighten policy – Handelsblatt

Inflation in the United States is “very stubborn” and the Federal Reserve should “stay the course” and tighten monetary policy or else lose credibility, said Gita Gopinath, the International Monetary Fund’s first deputy managing director. The Fed has raised interest rates faster this year than any time since the early 1980s, when inflation was even higher and so entrenched in day-to-day American life that it took pushing short-term borrowing costs – and the unemployment rate – into double digits before price pressures finally receded. “Inflation continues to be very stubborn,” Gopinath said of the United States in comments to German business daily Handelsblatt published on Monday.

TipRanks

2 “Strong Buy” Stocks for a Tax-Loss Harvesting Haul

As we get down toward the end of the year, hedge funds and large-scale individual investors have a habit of shedding their losing positions, swallowing the losses now to offset them against capital gains taxes on their profitable holdings. The trades are called tax-loss harvesting, and they open up an interesting opportunity for the daring retail investor. The opportunity comes due to a statistical quirk of trading history noted by Savita Subramanian, Bank of America’s head of US equity strategy

Bloomberg

Xi’s Fiery Taiwan Rhetoric Raises Risk of War in His Third Term

(Bloomberg) — President Xi Jinping proclaimed on Sunday that Taiwan’s status should be “settled by Chinese people.” Yet he faces a tricky balancing act managing public opinion among China’s 1.4 billion people on an issue that looks set to dominate his third term.Most Read from BloombergS&P 500 Bounces Off Make-Or-Break Technical Level: Markets WrapForecast for US Recession Within Year Hits 100% in Blow to BidenRussia Hits Ukrainian Capital Kyiv With Kamikaze DronesThe Time to Buy the Dip Is Fas

The Wall Street Journal

JPMorgan Investment Banking Chair Carlos Hernandez to Retire

JPMorgan Chase executive Carlos Hernandez, the leader of the bank’s investment banking staff and a member of Jamie Dimon’s inner management circle, will retire next year.

TechCrunch

Chinese chipmakers, U.S. suppliers caught in crosshairs of new export restrictions

Over the last week and a half, the Chinese semiconductor industry’s circumstances have taken a sharp turn for the worse. The Biden administration announced on October 7 a sweeping set of export restrictions that prevent the export of certain chips and, more important, the sale of tools using certain technologies to Chinese chipmakers. The rules go well beyond those introduced during the Trump administration and are likely to keep Chinese companies several generations behind the leading edge.

Meta ratchets up Apple rivalry with ads targeting iMessage

Previous article

Sunflowers, war and oil: Why the price of margarine and butter spiked 32%

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Stock News