Reported 3 days ago
President Donald Trump has pardoned Changpeng 'CZ' Zhao, the founder of Binance, who had previously pleaded guilty to money laundering charges related to his cryptocurrency exchange, serving four months in prison. White House Press Secretary Karoline Leavitt stated that the pardon was an exercise of constitutional authority against the Biden Administration's stance on cryptocurrency. This decision follows reports of a lucrative crypto venture connected to the Trump family, which raised questions about potential conflicts of interest.
Source: YAHOO
Reported 3 days ago
President Trump has pardoned Binance founder Changpeng Zhao, facilitating his return to the U.S. and pledging to make the country a global hub for cryptocurrency. The decision, influenced by months of discussions between Zhao and the Trump family, signifies a shift from the Biden Administration's previous stance on crypto regulation. Zhao thanked Trump and expressed commitment to fostering a favorable environment for digital assets, while Trump's administration has already implemented supportive measures for the industry, including executive orders and regulatory changes.
Source: YAHOO
Reported 3 days ago
Molina Healthcare's stock dropped over 20% after the company reported disappointing third-quarter earnings, with adjusted EPS of $1.84 missing expectations significantly due to increased medical costs. The company's medical care ratio (MCR) was alarming at 92.6%, exceeding prior year figures and suggesting broader issues as many customers utilized their ACA plans. Concerns are mounting as federal subsidies that make ACA plans affordable are set to expire, possibly reducing enrollment and increasing costs for remaining clients. Molina's future hinges on stabilizing medical costs and adjusting their financial outlook for the upcoming quarter.
Source: YAHOO
Reported 3 days ago
US stocks rose on Thursday with the Dow, S&P 500, and Nasdaq seeing increases as oil prices spiked due to sanctions on Russian producers. While Tesla's quarterly earnings disappointed, the Nasdaq led gains with a 0.7% rise, and American Airlines performed well amid positive earnings guidance. The upcoming earnings report from Intel is highly anticipated, while developments in US-China trade talks also added some assurance to the market.
Source: YAHOO
Reported 3 days ago
IBM reported better-than-expected earnings and raised its sales forecasts, but shares fell as investors reacted to slowing growth in its cloud and software divisions. Despite a 15% gain in adjusted earnings per share and a 9% increase in revenue for the third quarter, market focus on declining software performance led to a 1.5% drop in stock price, highlighting high investor expectations ahead of other tech earnings reports.
Source: YAHOO
Reported 3 days ago
High mortgage rates are projected to remain elevated through 2026, according to the Mortgage Bankers Association and Fannie Mae, potentially reaching 6.5% and 6% respectively. This persistent increase in borrowing costs is significantly impacting the U.S. housing market, stifling real estate activity and reducing home affordability. Experts suggest that easing these rates to around 5.75% could help revitalize the market, but current forecasts indicate a tough economic road ahead, with high rates dampening economic growth and limiting homebuyer mobility.
Source: YAHOO
Reported 3 days ago
Oil prices surged after the U.S. imposed new sanctions on Russia's oil industry, aiming to pressure President Putin to negotiate and end the war on Ukraine. With crude oil prices climbing, experts anticipate that consumers may soon see higher gas prices, possibly starting next week. The impact of these sanctions on fuel prices is expected to ripple throughout the economy, affecting various products and services.
Source: YAHOO
Reported 3 days ago
Source: YAHOO
Reported 3 days ago
The average long-term U.S. mortgage rate has dropped to 6.19%, marking the lowest level in more than a year and aiding sluggish home sales. This is the third consecutive week of declines, influenced by the Federal Reserve's interest rate policies and an easing economic outlook. While sales of previously occupied homes hit a near 30-year low last year, recent reductions in mortgage rates have sparked some recovery in sales. However, potential inflationary pressures and budget deficits could limit how much further rates can decline.
Source: YAHOO
Reported 3 days ago
Tesla is recalling more than 63,000 Cybertrucks in the U.S. because their front lights are too bright, potentially distracting other drivers and increasing collision risks. The recall involves models from 2024 to 2026 and affects vehicles manufactured between November 2023 and October 2025. Although no accidents or injuries related to the issue have been reported, Tesla plans to issue a free software update to resolve it. This recall follows previous investigations into other safety issues with Tesla's self-driving features.
Source: YAHOO
Reported 3 days ago
The Trump administration is not in discussions to acquire equity stakes in quantum computing firms, according to sources. While several companies are seeking federal funding in exchange for equity, a Commerce Department spokesperson clarified that no negotiations are currently taking place. The administration is open to other funding forms, emphasizing a need for good returns for taxpayers.
Source: YAHOO
Reported 3 days ago
AT&T's COO, Jeff McElfresh, criticized T-Mobile's claims about its network coverage in the U.S. during a recent interview, stating that T-Mobile's assertions are misleading. Despite AT&T missing earnings expectations, they reported growth in mobile and fiber subscribers. McElfresh emphasized AT&T's commitment to transparency and reliability, revealing plans for a new campaign that aims to clarify misconceptions about network performance and pricing in the competitive landscape.
Source: YAHOO
Reported 3 days ago
During Tesla's earnings call, CEO Elon Musk made a controversial appeal for a $1 trillion pay plan, emphasizing his need for strong influence over the company's future 'robot army.' He expressed concerns about potentially losing control if he proceeds with building the robots, stating that compensation should reflect the level of voting control he possesses. Musk criticized proxy adviser firms opposing his pay proposal and highlighted that shareholder approval is crucial for maintaining his role as CEO during a pivotal time for Tesla.
Source: YAHOO
Reported 3 days ago
Source: YAHOO
Reported 3 days ago
Hasbro is navigating tariff challenges by increasing prices on select popular products, as CEO Chris Cocks explained in a recent interview. Despite these adjustments, the company aims to keep half of its offerings under $20 while implementing a $1 billion cost-savings plan. Hasbro's revenue rose 8% to $1.39 billion in Q3, and the company remains optimistic about future sales, bolstered by new product launches targeting high-end and collectible markets. However, families in lower income brackets exhibit more price sensitivity, creating a divided consumer landscape.
Source: YAHOO
Reported 3 days ago
Mortgage rates have fallen to their lowest level in over a year, with the average 30-year rate now at 6.19% and the 15-year rate at 5.44%. This decline follows a drop in the 10-year Treasury yield below 4%, influenced by market reactions to a potential government shutdown and expectations of future rate cuts from the Federal Reserve. As a result, existing home sales have seen a slight increase, suggesting that lower rates are encouraging more buyers to enter the market.
Source: YAHOO
Reported 3 days ago
President Donald Trump has pardoned Changpeng Zhao, founder of Binance, the world's largest cryptocurrency exchange, who previously served prison time for failing to prevent criminal activities on the platform. The pardon follows Zhao's significant support for the Trump family's crypto ventures and aims to rectify what the Trump administration describes as overreach by the Biden administration against the cryptocurrency industry. Zhao expressed gratitude for the pardon, marking a notable shift in regulatory attitudes towards crypto as Trump continues to prioritize the industry's growth.
Source: YAHOO
Reported 3 days ago
Mortgage rates in the U.S. have dropped to their lowest point in over a year, with the average 30-year fixed rate falling to 6.19%. This decrease offers a glimmer of hope for potential homebuyers frustrated by high borrowing costs, as lower rates and easing home prices enhance housing affordability. Experts suggest that the downward trend in mortgage rates may continue, driven by expectations of an upcoming Federal Reserve rate cut and signs of a sluggish economy.
Source: YAHOO
Reported 3 days ago
Freddie Mac announced that the average rate for a 30-year mortgage has decreased to 6.19% this week, marking the lowest level observed in more than a year.
Source: YAHOO
Reported 3 days ago
Microsoft’s Copilot has been updated to include a new customizable avatar named Mico, designed to make interactions feel more personal. Unlike the infamous Clippy, Mico changes its expression and color based on user interactions and focuses on being empathetic while providing honest feedback. The update also introduces collaborative chat features, memory capabilities for referencing past conversations, and the ability to link multiple services for a more integrated digital experience. Microsoft aims to enhance the usefulness of Copilot while facilitating meaningful user interaction.
Source: YAHOO
Reported 3 days ago
Tensormesh has raised $4.5 million in seed funding to develop a commercial version of the LMCache utility, which can reduce AI inference costs significantly. The company's innovative approach retains key-value caches after queries, thereby improving efficiency and inference power, particularly for chat interfaces and agentic systems. As the demand for AI infrastructure grows, Tensormesh aims to streamline the complex process for companies looking to enhance their AI capabilities.
Source: YAHOO
Reported 3 days ago
Dan Ives from Wedbush Securities explains that Tesla CEO Elon Musk's ambitious pay package, valued at up to $1 trillion, is linked to Tesla's goal of becoming a leader in robotics. Ives believes that within two to three years, robots will become commonplace in homes, fulfilling various tasks and enhancing Tesla's position in the robotics and autonomous technology sectors.
Source: YAHOO
Reported 3 days ago
Intel is set to release its quarterly earnings after the market closes today, with analysts expecting a modest profit following previous losses. The stock has surged over 80% this year, largely due to recent government support and a new partnership with Nvidia, raising investor expectations. However, there are concerns about whether this enthusiasm is justified, as analysts maintain neutral ratings pending more customer commitments, especially from potential major clients like Microsoft.
Source: YAHOO
Reported 3 days ago
Shares of quantum computing firms surged after reports that the Trump administration is considering taking equity stakes in these companies in exchange for federal funding. Companies like IonQ, Rigetti, D-Wave Quantum, and Quantum Computing are reportedly involved in discussions, prompting stocks to rise between 5% and 14%. While investor interest in cutting-edge technology grows, caution is advised due to the volatility and unconfirmed nature of these reports.
Source: YAHOO
Reported 3 days ago
On October 23, major U.S. equities mainly advanced as investors monitored trade developments with China and corporate earnings. IBM's shares fell due to lower-than-expected software revenue, while Tesla also experienced a decline after missing profit estimates. Molina Healthcare suffered the worst performance in the S&P 500 after reporting disappointing earnings. In contrast, Honeywell's shares rose significantly following an optimistic profit outlook, and several quantum computing stocks surged amid government talks for potential investments.
Source: YAHOO