Buffett's Bold Move: 11 Stocks Out, Snowflake's Future Bright.

Warren Buffett, known for his risk-taking approach, sold 11 stocks from the Berkshire Hathaway portfolio in Q2 2024. The largest sale was Apple shares, where Buffett nearly halved his ownership. Bank of America shares were also sold, but Buffett's enthusiasm for the bank decreased. Chevron shares were reduced, and Berkshire reduced its stake in the oil and gas company. Buffett also exited two stocks, Paramount Global and Snowflake. Wall Street remains optimistic about Snowflake, with many analysts believing its shares could rise by 45% in the next 12 months. Snowflake's strong revenue growth and potential market for its software platform are reasons for this optimism. However, Buffett's decision to sell Snowflake shares also has strong reasons. Berkshire Hathaway first invested in Snowflake's IPO in 2020 at a price of US$120 per share. The company's focus on data cloud products and AI strategies is a key factor in its success.

Warren Buffett Menjual 11 Saham pada Q2, Salah Satu Diprediksi Bakal Melonjak 45% (kontan.co.id)

Fed's Rate Cut: A step in the Right Direction.

President Alberto Musalem supports the US central bank's decision to lower interest rates by half a point last month, but suggests further reductions should be carried out gradually. He expects the interest rate path to be slightly higher than the official median. Musalem believes a gradual reduction in policy interest rates is the right approach over time, as it has served the FOMC well in achieving price stability. The Fed lowered its benchmark interest rate by 50 basis points last month to protect the strong labor market.

The Fed Disarankan Sabar dalam Turunkan Suku Bunga, Ini Sebabnya (bisnis.com)

Coal Prices Heat Up Amid Rising Indian Demand.

Coal prices in India have surged due to positive sentiment, including Russia increasing coal exports to India, potential demand from China, and the decline in India's renewable energy output. The price of Newcastle coal rose by 0.3 to $148.5 per ton in October 2024, while Rotterdam coal prices fell by 0.85 to $121.2. Russia is interested in increasing coal exports to India to capitalize on the rising fuel demand in the Asian country. India is increasingly relying on coal to meet high electricity demand, with coal-fired power generation surpassing renewable energy growth for the first time since 2019. Coal prices are also driven by an imbalance in energy supply and demand, with China's heavy rains and stimulus measures increasing coal demand. European coal prices have weakened due to abundant supply and bearish signals from the gas market, while increased electricity generation demand is expected to support prices in the coming days.
Harga Batu Bara Terus Membara Ditopang Banjir Sentimen Positif (investor.id)