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Britain will host the world's first global artificial intelligence (AI) safety summit next month, aiming to carve out a role following Brexit as an arbiter between the United States, China, and the European Union in a key tech sector.

Asian shares steadied on Wednesday as Chinese economic data suggested Beijing's stimulus measures might finally be gaining traction, only to be overshadowed by fears of a widening conflict in the Middle East that lifted oil prices.

The latest batch of economic data from China surprised by beating forecasts, but was unfortunately overshadowed by fears of a widening conflict in the Middle East following the Gaza hospital blast.

Asian shares steadied on Wednesday after Chinese economic data suggested Beijing's stimulus measures might finally be gaining traction, though a blast at a Gaza hospital dealt a blow to hopes for containing the conflict there.

Asian shares stuttered on Wednesday as a blast at a Gaza hospital dealt a blow to hopes for containing the crisis, while bonds nursed heavy losses as strong U.S. retail data argued for a punishingly long stretch of high rates.

(RTTNews) - EV maker Tesla (TSLA) will recall certain 2021-2023 Model X vehicles, according to the National Highway and Traffic Safety Administration (NHTSA).

Undeniably, online used-car dealership Carvana ( NYSE:CVNA ) sparked an astonishing rally this year against wild odds. However, cracks are finally starting to appear on its seemingly impregnable armor. Amid recent analyst downgrades and unfavorable broader industry shifts, speculators need to be careful about excessive exposure. Therefore, I am bearish on CVNA stock. Experts Weigh in on CVNA Stock Since the start of the year, CVNA stock has managed to return 650%. Earlier this year, the financial narrative focused on its prolific cash burn as well as its massive debut accumulation. Therefore, bankruptcy hardly seemed a remote possibility. Still, speculation alone can’t sustain a fundamentally flawed enterprise, which is where the experts come in. Late last week, Exane BNP Paribas analyst Chris Bottiglieri downgraded CVNA stock to Neutral from Outperform with a $37 price target. In particular, the market expert cited reduced confidence in unit growth. If so, Carvana shares will likely not be able to generate the robust returns that speculators have come to expect. As anyone can see with the rise and fall of the original meme stocks, when sentiment fades for these high-risk wagers, the rush to the exits tends to be intense, and the main worry is that the dynamic will be permanent. A little more than a week prior to Bottiglieri’s downgrade, JPMorgan analyst Rajat Gupta – while raising the price target on CVNA stock to $25 (from $20) – maintained an Underweight rating, the equivalent of a Sell. It’s also worth pointing out that the $25 target still represents 26% downside risk against last Friday’s closing price. As well, within the past one-year period, only one analyst assigned a Buy rating for Carvana. Otherwise, the predominant sentiment – even with the skyrocketing of CVNA stock – has been the equivalent of a noncommittal Hold. Fundamentals Cloud Carvana’s Narrative In all fairness, while analysts’ opinions are important for their experience, acumen, and influence, they shouldn’t represent the sole catalyst for making an investment decision. They’re experts, but they’re also human. What truly makes CVNA stock a worrisome idea are the underlying fundamentals for the used-car retail segment. Basically, an influx of supply may put pressure on the industry. According to a UBS report, analysts estimate that worldwide auto production may overtake sales in the sector by 6% this year. If so, that might yield an excess of five million vehicles that will probably require price cuts to avoid the prospect of sitting inventory. Further, the cuts may materialize in the back half of this year. What’s more, automakers are already preparing for a price war. It’s not just empty speculation. Earlier this year, Tesla ( NASDAQ:TSLA ) began slashing prices on its popular EV models, leading to competitor responses. If such actions replicate themselves in the used-car market, only the stoutest enterprises will survive. That doesn’t describe Carvana, irrespective of its progress in the charts. For example, in the second quarter of Fiscal 2023, Carvana posted total revenue of $1.96 billion, down heavily from the $3.88 billion posted in the year-ago quarter. However, when it came to the bottom line, it printed a net loss of $58 million. Yes, the company sharply pared the net loss of $238 million from one year ago. Still, this is an enterprise that needs the winds to move with it, not against it. A price war that negatively affects industry profits simply isn’t what CVNA stock needs right now. The Consumer Economy Doesn’t Help Another factor that threatens the viability of CVNA stock is the underlying consumer economy. According to data from S&P Global Mobility, the average age of passenger vehicles on U.S. roadways hit 12.5 years this year, a new record. Further, the average age for sedans jumped to 13.6 years. Facing a potential price war, Carvana must also manage a declining total addressable market. Due to broader economic pressures, people are determined to drive their cars until the wheels fall off. That mentality just won’t help CVNA stock. Is CVNA Stock a Buy, According to Analysts? Turning to Wall Street, CVNA stock has a Hold consensus rating based on one Buy, 12 Holds, and four Sell ratings. The average CVNA price target is $41.06, implying 18.2% upside potential. The Takeaway: Time May Have Run Out for CVNA Stock While Carvana’s stratospheric rise caught many observers by surprise, a flawed enterprise can only cheat gravity for so long. That seems to be the case with CVNA stock, which has seen its armor crack in recent sessions. Further, a potentially upcoming price war might put a cruel end to this automotive Cinderella tale. Disclosure

Pre-election seasonality weakness trends played out in spades for US equities in the months of September and October. The S&P 500 Index ETF (SPY), the most widely followed and heavily traded US equity ETF, gave back 1.77% in A

For the first time in several years, there is no more FAANG or FANGMAN to talk about during the earnings season. It has been retired from the lexicon and has been replaced with the “Magnificent 7.”

Tesla TSLA is set to release third-quarter 2023 results tomorrow, after the closing bell. The focal point of the electric vehicle (EV) manufacturer’s earnings release will be its vehicle production and deliveries. Though third-qua

U.S. stocks dipped and benchmark Treasury yields surged on Tuesday as robust economic data and strong third-quarter earnings appeared to make the case for the Federal Reserve keeping restrictive policies in place for longer than expected.

Electric vehicle manufacturer Tesla on Tuesday urged the Biden administration to finalize much tougher fuel economy standards through 2032 than U.S. regulators have proposed.

Electric vehicle maker Tesla TSLA is set to report third-quarter earnings results on Wednesday after the close. The stock has outperformed this year amid a positive string of earnings surprises. Tesla, a Zacks Rank #3 (Hold) stock

Investors are betting big on EV stocks.

U.S. stocks ended sharply higher on Monday as investors awaited a deluge of corporate earnings results and shrugged off fears that escalated last week following the Israel-Hamas war. All three major indexes ended in positive terri

As earnings season ramps up, this week includes some big and important names. Two reports wroth watching are electric-car maker Tesla's (NASDAQ: TSLA) and streaming TV service company Netflix's (NASDAQ: NFLX). Both consumer-facing businesses will provide investors with key insigh

The NASDAQ 100 Pre-Market Indicator is down -80.76 to 15,091.97. The total Pre-Market volume is currently 25,719,945 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro Short QQQ (SQQQ) is +0.23 at $18.87, with 3,433,935 shares t

Electric vehicle maker Tesla TSLA will release its Q3 earnings on Oct 18 after the close of the markets. It’s been a successful year for TSLA investors, with the stock showing an amazing performance by more than doubling in value.

Below is Validea's guru fundamental report for TESLA INC (TSLA). Of the 22 guru strategies we follow, TSLA rates highest using our Small-Cap Growth Investor model based on the published strategy of Motley Fool. This strategy looks for small cap growth stocks with solid fundament

Earlier this year, there was excitement that the federal government might reschedule marijuana from a Schedule I substance down to Schedule III. It would be a big step toward decriminalization, which could help open up doors for the industry. But as with everything related to the