Reported 26 days ago
The Federal Reserve's impending monetary policy meeting is drawing attention as speculation mounts about the size and pace of upcoming interest rate cuts. Investors are weighing the possibility of a 25 or 50 basis point reduction, with concerns about the labor market and economic growth shaping market expectations. The central bank's projections will be critical, as the market anticipates significant cuts by the end of 2024. Any deviations from these expectations could impact stock valuations and bond yields.
Source: YAHOO
Reported 26 days ago
Mark George, the newly appointed CEO of Norfolk Southern, outlines his commitment to enhancing operational performance following years of challenges. In his first public remarks, he expressed dissatisfaction with past inefficiencies and highlighted the need for consistent service excellence. George acknowledges the positive strides made by COO John Orr and plans to implement rigorous processes to identify and rectify operational issues, while also focusing on profitability and smart investments in technology. The company aims to improve its operating ratio and return to a competitive standing within the industry.
Source: YAHOO
Reported 26 days ago
Next week, the Federal Reserve will meet for its September policy discussion, anticipated to announce its first interest rate cut. A US appeals court will address a potential TikTok ban on September 16 due to legislative challenges against its parent company, ByteDance. Additionally, earnings reports from FedEx, Lennar, and General Mills are expected throughout the week, coinciding with the release of August's retail sales data.
Source: YAHOO
Reported 26 days ago
McDonald’s has decided to extend its popular $5 meal deal, which includes options like a four-piece Nuggets, McChicken, or McDouble with small fries and a soft drink, through the fall and into December in most U.S. markets. This decision comes as the fast-food giant aims to attract budget-conscious customers amidst decreasing foot traffic and rising menu prices. Following this announcement, Citi increased its stock price target for McDonald’s, reflecting optimism for positive quarterly results.
Source: YAHOO
Reported 26 days ago
Moderna has pushed back its break-even goal by two years and projected lower sales for 2025, leading to a drop in its stock price. Analyst Michael Yee downgraded the company's stock, citing disappointing guidance for COVID and RSV segments, concerns over cash burn, and a potentially problematic outlook for future revenue and product development in a highly competitive biotech sector.
Source: YAHOO
Reported 26 days ago
Nippon Steel's bid of $14.9 billion for U.S. Steel is under review by the Committee on Foreign Investment in the United States (CFIUS), with a recommendation deadline of September 23. Political pressures mount against the takeover, as key figures, including President Biden and Vice President Harris, express concerns over foreign ownership of a vital American steel company. Should CFIUS decide against an extension, it could either approve the deal with conditions or recommend that the President block it.
Source: YAHOO
Reported 26 days ago
The Biden-Harris administration is taking measures against Chinese retailers Shein and Temu by targeting the de minimis exemption that allows low-value imports to enter the US tariff-free. With potential tariffs looming due to the upcoming 2024 election, US retailers are preparing for price increases and diversifying their supply chains to ensure competitiveness. Experts warn that proposed tariffs could significantly raise costs for American families.
Source: YAHOO
Reported 26 days ago
As 33,000 union workers at Boeing go on strike, portfolio manager Tony Bancroft estimates the company could lose about $100 million per day. While he acknowledges the short-term volatility it causes, Bancroft believes that Boeing will continue to be a significant player in the commercial aerospace sector long-term, provided they resume production efficiently after the strike.
Source: YAHOO
Reported 26 days ago
Donald Trump has announced he has no intention of selling his shares in Trump Media & Technology Group, causing the stock to surge by nearly 12% in one day. Trump emphasized his commitment to maintaining ownership and continuing his presence on Truth Social, despite recent underperformance in the market. The stock, however, remains far from its peak earlier this year, and Trump is nearing the end of a lockup period that has kept him from selling his shares.
Source: YAHOO
Reported 26 days ago
Delta Air Lines has requested the U.S. Transportation Department to delay the resumption of four daily flights to China due to ongoing market challenges. Currently, Delta operates flights to Shanghai from Seattle and Detroit but seeks approval to halt two additional daily flights to Shanghai and two to Beijing. This follows United Airlines' similar request to reduce its daily flights to China.
Source: YAHOO
Reported 26 days ago
Walgreens Boots Alliance has settled charges for $106.8 million related to fraudulently billing the U.S. government for prescriptions that were not dispensed between 2009 and 2020. The Department of Justice stated that Walgreens submitted false claims to Medicare and Medicaid, resulting in improper payments. Although Walgreens did not admit liability, it attributed the issue to a software error and has since taken steps to prevent future billing errors. The settlement also includes payments to whistleblowers who brought the issues to light.
Source: YAHOO
Reported 26 days ago
Unity Software announced the cancellation of its runtime fee, which charged developers based on game downloads, leading Stifel analysts to raise their price target for the stock to $25 per share. This significant change is expected to enhance Unity's appeal in the gaming development market.
Source: YAHOO
Reported 26 days ago
The Biden-Harris administration is intensifying efforts to address the use of the de minimis loophole by Shein and Temu, aiming to prevent these Chinese-owned retailers from avoiding U.S. taxes and tariffs. The move comes amid discussions on expanding tariffs on foreign imports.
Source: YAHOO
Reported 26 days ago
The Congressional Budget Office (CBO) has released a report indicating that the Old-Age and Survivors Insurance (OASI) Trust Fund for Social Security is projected to deplete by 2034, while the Disability Insurance (DI) Trust Fund may run out by 2064. The report suggests that by 2034, revenues will no longer cover benefits, leading to possible solutions such as increasing the payroll tax or reducing benefits. This bleak outlook continues a trend of ongoing concerns regarding the program, which is vital for retirees relying on these funds for income.
Source: YAHOO
Reported 26 days ago
The U.S. Environmental Protection Agency (EPA) found that Archer-Daniels-Midland (ADM) violated federal drinking water rules and its permit during an inspection revealing a leak at an Illinois carbon capture facility. The leak occurred in unauthorized zones, leading to concerns about possible soil and groundwater contamination. ADM acknowledged the corrosion issue and reported it to the EPA, asserting that there was no public health threat. The event highlights ongoing concerns regarding the safety of carbon capture technologies.
Source: YAHOO
Reported 26 days ago
As investors anticipate potential interest rate cuts from the Federal Reserve, Matt Miskin from John Hancock Investment Management outlines three crucial steps the Fed should take: aggressively lower the fed funds rate, maintain a stable labor market with low jobless claims and unemployment, and ensure high-yield spreads remain tight. Miskin suggests that these measures could foster favorable market conditions and affect stock performance, particularly as the Fed begins its rate-easing cycle amid recession fears.
Source: YAHOO
Reported 26 days ago
Despite warnings of economic challenges, Wall Street remains optimistic and is heavily betting that the Federal Reserve will make significant interest rate cuts. This has led to a surge in tech stocks, crypto, and marginalized bonds as traders react to increasing expectations of favorable monetary policy that could support stock market growth. However, some analysts caution that such optimism may be misplaced, as the current market conditions resemble past short-lived bull markets without the backing of a recession.
Source: YAHOO
Reported 26 days ago
Shares of Trump Media & Technology Group surged after former President Donald Trump announced that he has no intention of selling his nearly 115 million shares when a lockup period ends. Despite the company's struggles and a significant drop in stock value since its public debut, Trump's statement boosted investor confidence, leading to a 29% rise in share price during the day.
Source: YAHOO
Reported 26 days ago
In 2024, the U.S. government is projected to spend $1.2 trillion on interest payments, the highest ever recorded, largely due to pandemic-related deficit spending and the Federal Reserve's interest rate hikes. This amount potentially surpasses military spending for the first time, as rising interest payments are expected to reach 3.9% of GDP in the next decade. The outcomes of the upcoming elections may further affect the trajectory of the federal budget and deficit, with various proposals from both parties aiming to adjust taxes and spending.
Source: YAHOO
Reported 26 days ago
U.S. stocks experienced significant gains on Friday, concluding a strong week fueled by rising anticipation of a substantial interest rate cut by the Federal Reserve. The S&P 500 rose 0.5%, the Nasdaq climbed 0.7%, and the Dow Jones increased by 0.5%. Weekly totals showed the Nasdaq's best performance yet with over a 5% gain, while the S&P and Dow rose by 4% and 2%, respectively. Market optimism for a half-point rate cut next week intensified following reports suggesting a close call in the Fed's decision on September 18.
Source: YAHOO
Reported 26 days ago
Uber has partnered exclusively with Waymo to offer driverless rides in Austin and Atlanta, utilizing Waymo's all-electric Jaguar I-PACE vehicles. This collaboration, which starts early next year, allows Uber to manage the fleet while Waymo handles the autonomous driving technology. The partnership is part of Uber's strategy to commercialize autonomous vehicles and enhance investor confidence regarding its expanding market potential.
Source: YAHOO
Reported 26 days ago
Wall Street traders have renewed their confidence in a potential half-point rate cut from the Federal Reserve, resulting in a significant uptick in stock markets this week. A shift towards economically sensitive stocks has outperformed tech giants, suggesting a broader market participation. Experts discuss the implications of the Fed's decisions on small-cap stocks, which may benefit from increased rate sensitivity as interest rates are anticipated to drop.
Source: YAHOO
Reported 26 days ago
On September 13, 2024, U.S. stock indexes surged, with the S&P 500 advancing by 0.5%, nearing its all-time high, supported by easing Treasury yields and growing expectations for a significant interest rate cut by the Federal Reserve next week. The Dow Jones increased by 0.7%, while the Nasdaq composite also rose by 0.7%. Over the week, the S&P 500 gained 4%, and for the year, it has climbed 18%.
Source: YAHOO
Reported 26 days ago
Shares of Trump Media & Technology Group spiked by up to 30% following Donald Trump's declaration that he has 'absolutely no intention of selling' his stake in the company. Despite later losses, the stock still closed 12% higher after a tumultuous seven-week decline amid concerns of large shareholders selling off. Trump's comments come as the lockup period preventing insiders from selling shares is set to expire soon, with Trump's nearly 115 million shares valued at around $2.1 billion.
Source: YAHOO
Reported 26 days ago
US stocks, including the Nasdaq and S&P 500, experienced significant gains, with the Nasdaq rising nearly 6% and the S&P 500 over 4% during the recent trading week, as markets recovered from the volatility seen in early September. This upward trend is highlighted in the latest recap of trading activity.
Source: YAHOO