Reported 17 days ago
Asian markets are set to rise following a rally in the US stock and bond markets after the Federal Reserve lowered interest rates by 25 basis points. The S&P 500 and Nasdaq 100 both reached new highs, and the global stock index also hit a record. Treasury yields fell, reflecting renewed investor confidence amid expectations of continued strong U.S. economic performance. Investors are now looking towards China for potential stimulus announcements following a recent legislative meeting.
Source: YAHOO
Reported 17 days ago
Peru's central bank has reduced its benchmark interest rate from 5.25% to 5% following a continued decline in core inflation for four consecutive months. Analysts had mixed expectations, with some predicting the hold of rates. The drop occurs as overall inflation remains controlled, currently at 2.01%, placing Peru in a favorable position compared to neighboring countries. The bank noted that while inflation rates might slightly rise in the coming months, core inflation has decelerated, allowing for this monetary easing.
Source: YAHOO
Reported 17 days ago
The Nasdaq and S&P 500 reached record highs following the Federal Reserve's decision to cut interest rates by 25 basis points in November. This post-election rally is attributed to Donald Trump's reelection, prompting analysis on the sectors benefiting the most and the impacts on Treasury yields and the US dollar.
Source: YAHOO
Reported 17 days ago
Sumitomo Rubber announced the closure of its tire manufacturing plant in western New York, resulting in the loss of 1,550 jobs. The decision, attributing to financial losses and competitive market pressures, came after failed attempts to sell the facility and significant investments that did not improve performance. Local officials expressed surprise at the lack of prior discussion about the impending closure, while the company is now coordinating severance packages with the United Steelworkers Union.
Source: YAHOO
Reported 17 days ago
As Donald Trump prepares to form his new administration following his election victory, he plans to appoint key advisers and cabinet members predominantly from Wall Street and his previous administration. With a Republican-controlled government, Trump's nominees are expected to streamline through the Senate's confirmation process. Among the frontrunners for pivotal positions, such as Treasury Secretary and National Economic Council Director, are figures like Scott Bessent, Jay Clayton, and Kevin Hassett. Additionally, Trump may consider influential names like Elon Musk and Robert F. Kennedy Jr. to help implement his economic agenda.
Source: YAHOO
Reported 17 days ago
A labor dispute has halted the export of canola oil and forestry products from Canadian West Coast ports, affecting revenues by approximately C$4 million daily. The conflict began with a limited strike by longshore foremen, leading to a lockout by the B.C. Maritime Employers Association. While bulk grain shipments continue, canola oil shipments are not being loaded. Industry leaders are urging government intervention to resolve the dispute, as Canada relies heavily on these exports.
Source: YAHOO
Reported 17 days ago
US stocks are at record highs following a Federal Reserve rate cut and the optimism surrounding former President Trump's reelection. T. Rowe Price's CIO, Sébastien Page, discusses three main factors driving this rally: deregulation, lower taxes, and inflation. However, he warns that trade wars, stemming from Trump's proposed tariffs, could pose significant risks to stock market stability, a concern that the market may not be fully addressing.
Source: YAHOO
Reported 17 days ago
Airbnb reported a narrow beat in third-quarter revenue, but profits fell short due to increased marketing expenses aimed at international growth. Shares dropped 4% in after-hours trading as the company faced lower bookings early in the quarter. Although nights booked grew by 8%, the company missed profit expectations, and its outlook for revenue in the fourth quarter indicates modest growth.
Source: YAHOO
Reported 17 days ago
Donald Trump reacts personally to Federal Reserve policy decisions, especially following the recent 25-basis-point rate cut. Experts, like Jon Hilsenrath, note this could lead to a slower rate-cutting pace, with expectations for another cut in December but the cycle concluding by mid-2025. Trump is pressing for Fed Chair Jerome Powell's resignation, yet Powell remains committed to his term. The Fed's primary goal, amidst the political backdrop, is to achieve its inflation target while managing rate cuts.
Source: YAHOO
Reported 17 days ago
Lyft shares surged nearly 23% after outperforming expectations in third quarter revenue. CEO David Richard expressed confidence in future growth attributed to high rider numbers and driver hours, emphasizing a focus on customer satisfaction driving profitable growth. He highlighted Lyft's strong commuter demand, the new 'Price Lock' feature, and partnerships like DoorDash, suggesting that competitor scale won't disadvantage them against Uber.
Source: YAHOO
Reported 17 days ago
The stock market surged on Thursday, with the S&P 500 and Nasdaq reaching new all-time highs after the Federal Reserve announced a 25 basis point interest rate cut and Donald Trump's election victory sparked optimism among investors. Tech stocks led the rally, with companies like Nvidia and Amazon showcasing significant gains. Fed Chair Jerome Powell indicated that upcoming policy decisions would remain unaffected by the election results, emphasizing a balanced approach to economic goals.
Source: YAHOO
Reported 17 days ago
Block's stock dropped after it missed Q3 revenue estimates, while Affirm raised its full-year forecasts despite reporting Q1 figures. DraftKings also saw its stock fall due to a wider-than-expected loss of $0.60 per share in its earnings report.
Source: YAHOO
Reported 17 days ago
Despite reporting third-quarter losses, Rivian's stock fell short of revenue expectations with a loss of $0.99 per share, while Lucid improved slightly with a revenue beat and a narrower loss of $0.28 per share. Both electric vehicle manufacturers saw their stocks rise in after-hours trading, as analysts discuss their earnings and future production plans.
Source: YAHOO
Reported 17 days ago
After the Federal Reserve's recent interest rate cut, analysts highlight the bond market's need to account for rising inflation risks linked to Donald Trump's reelection. Strategist Michael Pond notes that the market is already reacting to concerns about tariffs and structural inflation, as evidenced by a significant rise in inflation expectations. However, he points out that the market seems unconcerned about potential deficits and tighter labor conditions that may also arise.
Source: YAHOO
Reported 17 days ago
As November 8 approaches, investors should pay attention to Federal Reserve commentary, notable earnings from Paramount, and Nvidia's inclusion in the Dow Jones Industrial Average, replacing Intel. These developments could significantly influence market sentiment.
Source: YAHOO
Reported 17 days ago
Upstart's Q3 earnings exceeded expectations, with revenue hitting $162 million and a narrower adjusted loss of $0.06 per share. CEO Dave Girouard attributes the company's return to growth to their advanced AI models enhancing lending decisions. He expresses optimism for continued development in the AI lending sector as banks increasingly adopt these technologies.
Source: YAHOO
Reported 17 days ago
The 2024-2025 NCAA basketball season has kicked off, with notable players like Duke's Cooper Flagg making headlines for both on-court performance and lucrative off-court endorsements. This week's Yahoo Finance Sports Report also highlights the growing influence of female basketball players such as Paige Bueckers and Juju Watkins, as well as an exclusive interview with NASCAR President Steve Phelps about the league's groundbreaking media rights agreements.
Source: YAHOO
Reported 17 days ago
Ford shares have fallen following a downgrade from Outperform to Market Perform by Bernstein analyst Daniel Roeska, who cited mixed third-quarter earnings and significant discounting from competitors like Stellantis and Ram as major concerns. Roeska expressed confidence in Ford's truck business but warned that pricing pressures could affect the company in the first half of 2025.
Source: YAHOO
Reported 17 days ago
Pinterest's stock fell significantly in after-hours trading despite exceeding Q3 earnings expectations, reporting $898.4 million in revenue and adjusted earnings of $0.40 per share. The decline is attributed to disappointing sales guidance for Q4, causing investor concern about the company's future performance.
Source: YAHOO
Reported 17 days ago
Nvidia's stock surged to a record high following Donald Trump's election victory, making it the first company in history to surpass a market value of $3.6 trillion. As investor optimism grew over potential tax cuts and reduced regulations, Nvidia's shares rose 2.2%, closing with a market capitalization of $3.65 trillion, overtaking Apple's previous record. The tech sector, particularly AI, continues to see significant growth, with Nvidia expected to report substantial quarterly revenue increases.
Source: YAHOO
Reported 17 days ago
Airbnb's Q3 earnings report shows a revenue of $3.73 billion, slightly exceeding estimates, while adjusted earnings of $2.13 per share fell short of forecasts. Despite this, the company's stock rose after it raised its fourth quarter guidance, fueled by growth in gross bookings and nights booked.
Source: YAHOO
Reported 17 days ago
On November 7, 2024, the Nasdaq Composite and S&P 500 indices reached record highs as they continued to rally after recent elections, while the Dow Jones Industrial Average remained practically unchanged. The market reacted to the Federal Reserve's announcement of a 25-basis-point interest rate cut earlier in the day, with market analysts monitoring sector performances and the Russell 2000 along with bond market trends.
Source: YAHOO
Reported 17 days ago
Vistra Corp. shares surged after the company announced significantly better-than-expected earnings for the third quarter and revealed it is in initial discussions with hyperscalers about powering AI data centers. The stock has more than tripled in value this year.
Source: YAHOO
Reported 17 days ago
Rivian's third-quarter revenue fell short of expectations, reaching $874 million compared to the anticipated $980 million, while the company's losses widened due to supply chain disruptions. Despite projecting a larger annual loss, Rivian remains optimistic about achieving a 'modest gross profit' in Q4 and has maintained its delivery outlook, forecasting between 50,500 and 52,000 vehicles for the year.
Source: YAHOO
Reported 17 days ago
Shares of MercadoLibre (MELI) dropped in afternoon trading after the company's Q3 results revealed strong revenue but disappointing profit figures. Although the Latin American e-commerce giant generated $5.31 billion in revenue, exceeding estimates, its adjusted earnings per share of $7.83 fell short of the expected $9.99.
Source: YAHOO