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Boutique Banks

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Weekly News

copper's ascent

Copper climbed to its highest in almost a decade, on April 26. Investors are betting that demand for metal will rise as economies recover from the pandemic, as infrastructure, construction and transportation will increase, along Biden's $2tln infrastructure plan. As the EV-essential metals (lithium, cobalt & nickel) hit multi-year highs, all of these rising commodity prices will nevertheless push up firms' costs and reduce their profits

Microsoft exceeds expectations

The tech giant announced better-than-expected earnings; cloud computing business is 23% higher than in Q3 2020, its productivity grows by 15% due to Teams, and PC sales are up 15%. However, Microsoft still missed its desired $2tln valuation, sending shares down by 4%

Tesla's backlash

After a car crash involving a Tesla caused the death of 2 men in Texas, and rising concerns regardin the firm's data treatment, Tesla is experiencing some backlash recently. However, it has recorded ground-breaking sales of $10.4bln on April 26, which are mainly being driven by model Y's rising popularity in China