The three major U.S. stock indexes open higher, Nasdaq up 0.3%
U.S. stocks opened with the Dow Jones up 0.1%, the S&P 500 up 0.18%, and the Nasdaq up 0.3%. Trump expressed support for artificial intelligence, boosting related concept stocks. NVIDIA (NVDA.O) rose 2.4%, Super Micro Computer (SMCI.O) surged 15% after reaching a cooperation agreement with Saudi data center company DataVolt, and AMD (AMD.O) increased by 6.5% as the company announced a $6 billion stock buyback plan. Tesla (TSLA.O) rose 2%.
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Just about three months after listing, two SK Hynix leveraged ETFs are set to be delisted in the United States.
Tradr ETFs announced that its two leveraged products linked to SK Hynix ADRs will be liquidated and delisted around November 12, with one being long and the other short. Despite only being listed for a few months, their combined scale has shrunk to about $1.3 million, down more than 60% from their peak. SK Hynix's Seoul stock price has fallen 56% from its high, similar products in the industry are generally under pressure, and South Korea has also further tightened regulations on leveraged products.
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A $5 billion single-product emerges? JPMorgan maintains a "Neutral" rating on Amgen (AMGN.US): A good drug doesn't necessarily mean a good buying opportunity.
Amgen's Imdelltra has maintained data with an HR of 0.42, nearly doubling survival time. Morgan Stanley estimates that it will become a single product with annual sales of around 5 billions USD. However, they maintain a Neutral rating and a target price of 350 USD.
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