VCI GLOBAL REVENUES FOR YEAR END 2023 INCREASED OVER 145%

VCI Global (NASDAQ: VCIG) has recently embarked on a series of strategic initiatives aimed at expanding its service capabilities and global presence. These include the acquisition of EVOLET, targeting the cashless transactions market in Malaysia, and an exclusive distributorship agreement with Wootzano Limited for Avarai robotic packing systems.

Additionally, expansions into Western markets and AI development signify the company’s commitment to innovation. VCI Global’s acquisition of Socializer Messenger and investment from Legacy Credit Sdn Bhd further solidify its position in secure communications and financial backing.

Financially, VCI Global boasts strong metrics, including a low debt-to-equity ratio and impressive profitability margins. With a calculated fair value indicating an 18.8% upside potential, VCI Global presents an enticing investment opportunity backed by its strategic ventures and solid fundamentals.

Read full press release here: VCI GLOBAL REVENUES FOR YEAR END 2023 INCREASED OVER 145%

Market Watch: S&P 500 Stagnates as Investors Hold Breath for Inflation Showdown

On Monday, the S&P 500 stood as still as a statue, with investors on the edge of their seats awaiting a crucial inflation report set to debut later in the week—a report that might just hold the script for the next act in the Federal Reserve’s monetary policy drama.

As the clock struck 4:00 ET (21:00 GMT), the Dow Jones Industrial Average took a slight tumble of 81 points, equivalent to 0.2%, while the S&P 500 barely budged at 0.02% lower, and the NASDAQ Composite strutted its stuff with a 0.3% uptick.

Wall Street had kicked off the week on a positive note, riding the momentum of three consecutive weeks of gains, thanks to some impressive earnings performances and the tantalizing promise of potential interest rate cuts later in the year.

However, amidst the buzz of optimism, investors couldn’t shake the shadow of looming inflation data, stealing the spotlight this week with the producer price index on Tuesday and the consumer price index following suit on Wednesday. These figures come hot on the heels of a spicy Q1 peppered with inflation reports hotter than a jalapeño, prompting investors to cool their jets on rate cut predictions—scaling back expectations from a deluge to just a sprinkle of cuts for the year.

And just as investors brace themselves for the inflation rollercoaster, Fed Vice Chair Philip Jefferson waltzes in with a reminder that the current interest rate setting is akin to Goldilocks’ porridge—just right for now, thank you very much, until inflation decides to play nice and stick to the 2% target.

Meanwhile, in the realm of tech titans, Arm Holdings soared to new heights with a 7% leap after unveiling plans to sprinkle some AI magic into its chips. With dreams of AI supremacy dancing in its circuits, Arm aims to birth a prototype by spring 2025, teasing the market with the promise of mass production come autumn of the same year.

Not to be outshone, Intel strutted its stuff with a 2% rise, as rumors swirled of an $11 billion chip plant in Ireland, the product of a tech tango between Intel and Apollo Global Management.

And in the electric world of Tesla, the stock revved up by 2% on whispers of new China tariffs from President Joe Biden, hinting at a jolt to sectors including electric vehicles—a shock Tesla seems ready to embrace.

Elsewhere, GameStop rode the meme stock wave with a dazzling 74% premarket surge, echoing the roar of “Roaring Kitty” after a three-year silence, while Nvidia held its ground despite Jefferies boosting its price target sky-high, dubbing Nvidia the reigning champ of AI chip stocks.