Reported about 1 month ago
Oracle's stock skyrocketed over 13% to an all-time high of $199.87 following strong fiscal fourth quarter results, with revenue of $15.9 billion and earnings per share of $1.70 exceeding analyst expectations. The company expects robust demand for its AI cloud services, raising its revenue forecast for fiscal 2026 to at least $67 billion. Analysts have responded positively, with several raising price targets for the stock up to $240. Oracle aims to invest significantly in its Stargate AI project amidst challenges from ongoing trade issues.
Source: YAHOO
Reported about 1 month ago
President Trump faces a contradiction in his desire for lower interest rates while imposing tariffs that could raise inflation. Despite recent inflation data showing stability, Trump and his allies criticize the Federal Reserve for not cutting rates. However, economic experts argue that the Fed must maintain its stance to avoid exacerbating inflation, which could rise due to Trump's tariffs. The Fed's reputation and market stability depend on navigating these complex interactions, cautioning against immediate rate cuts without seeing the full impact of tariffs.
Source: YAHOO
Reported about 1 month ago
Recent anxieties over the safety of US government bonds have been alleviated as a strong demand was observed during a 30-year bond auction, resulting in lower yields. Despite concerns about the implications of Trump's tax bill on the federal deficit, the Treasury Department successfully sold $22 billion worth of these bonds, highlighting restored investor confidence for now. Previous auctions also indicated solid demand, suggesting that while fears affected the bond market, U.S. Treasuries remain a favored investment, at least temporarily.
Source: YAHOO
Reported about 1 month ago
The US dollar is currently experiencing a decline amid recent economic data and potential tariffs from President Trump. Market strategist Art Hogan discusses the implications of these factors on the dollar and bond markets, noting that a weaker dollar may benefit American multinationals with international sales. As businesses prepare for earnings reports, the upcoming budget bill and trade negotiations will play crucial roles in shaping market performance.
Source: YAHOO
Reported about 1 month ago
AMD has launched its new MI350 line of AI chips, including the MI350X and MI355X, aiming to rival Nvidia's Blackwell processors by offering significantly improved performance and memory capacity. Alongside these chips, AMD introduced the AMD Developer Cloud, allowing developers cloud access to its powerful AI processors without needing to invest in hardware. This comes as both companies face challenges related to export controls affecting their businesses.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Boeing's stock plummeted by over 4% after an Air India plane, a Boeing 787-8 Dreamliner, crashed shortly after takeoff near Ahmedabad, resulting in 241 fatalities. The incident marked the first deadly accident involving the Dreamliner since 2011. Boeing CEO Kelly Ortberg expressed condolences and stated that the company is ready to assist in the investigation. The crash poses a significant setback for Boeing, which had seen a strong performance in shares earlier in the year.
Source: YAHOO
Reported about 1 month ago
Wedbush analysts have termed Oklo a 'clear leader' in the surging demand for nuclear energy, particularly following the company's recent contract with the Department of Defense to power an Air Force base. The analysts raised their price target for Oklo shares significantly, citing the growing need for clean energy as data centers expand. Oklo's innovative business model positions it well to benefit from this upswing in energy demand, reinforced by supportive government initiatives.
Source: YAHOO
Reported about 1 month ago
The International Monetary Fund (IMF) announced that its upcoming global growth forecast in July will consider recent trade developments, both positive and negative, but will not predict a similar GDP downgrade as the World Bank. IMF spokesperson Julie Kozack highlighted beneficial changes, such as recent tariff reductions between the U.S. and China, while also acknowledging ongoing uncertainties in trade negotiations. The IMF's next World Economic Outlook will be updated by the end of July, and the economic landscape remains complex with mixed indicators affecting growth expectations.
Source: YAHOO
Reported about 1 month ago
Bitcoin has now surpassed $100,000 for over a month, during which U.S. Treasury Secretary Scott Bessent projected a potential $2 trillion market for stablecoins. Expert Andy Baehr highlights this period of stability as investors and lawmakers increasingly recognize the role of stablecoins in the market. While the short-term direction remains uncertain, long-term optimism around Bitcoin and stablecoins appears strong, with institutional interest growing steadily.
Source: YAHOO
Reported about 1 month ago
BlackRock CEO Larry Fink has confirmed that he does not intend to leave the company anytime soon, despite recent executive departures. He emphasized the importance of leadership development and mentioned that they are actively preparing the next generation of leaders at BlackRock. Fink also highlighted recent significant investments made by the firm.
Source: YAHOO
Reported about 1 month ago
President Trump's latest tax and spending bill is poised to disadvantage American critical minerals companies by eliminating a crucial tax credit that supports the domestic production of vital materials like nickel and rare earths, essential for advanced technology and defense. This comes as lawmakers debate the bill, which prioritizes tax cuts and defense spending, putting companies at risk of closure without government support amid rising competition from China.
Source: YAHOO
Reported about 1 month ago
The average long-term mortgage rate in the US has decreased slightly to 6.84% for the second consecutive week, though borrowing costs remain high. Compared to last year's average of 6.95%, this week's decline is modest, driven by factors such as the Federal Reserve's interest policies and treasury yields. While rising rates have dampened the housing market, mortgage applications recently saw an uptick due to increased inventory, suggesting potential changes in buyer activity.
Source: YAHOO
Reported about 1 month ago
In a press conference, President Trump stated that he would not fire Federal Reserve Chair Jerome Powell but indicated he might need to take action to push for lower interest rates. Trump criticized Powell for not reducing rates and expressed his frustration over rising oil prices.
Source: YAHOO
Reported about 1 month ago
In today's stock market, Oracle stood out as the top performer in the S&P 500 after exceeding profit and sales forecasts, buoyed by rising demand for its cloud infrastructure. Meanwhile, Boeing's shares plummeted following a tragic crash of one of its 787 aircraft in India. Overall, U.S. equities displayed mixed results, with the S&P 500 and Nasdaq gaining ground while the Dow Jones dropped. Other notable movements included a surge in CureVac shares after its acquisition by BioNTech and declines for GameStop and Oxford Industries.
Source: YAHOO
Reported about 1 month ago
The average long-term mortgage rate in the US has decreased to 6.84%, marking a second consecutive slight decline.
Source: YAHOO
Reported about 1 month ago
The International Monetary Fund (IMF) has expressed its approval of recent economic measures taken by Argentina's central bank and finance ministry ahead of an upcoming visit. These measures, part of President Javier Milei's economic plan, aim to boost reserves through various reforms, including easing monetary controls and floating the peso. The IMF is set to assess the country's progress on these initiatives during its visit at the end of June, indicating a collaborative effort to stabilize Argentina's economy.
Source: YAHOO
Reported about 1 month ago
Health and Human Services Secretary Robert F. Kennedy Jr. has appointed eight new members to the Advisory Committee on Immunization Practices, many of whom are skeptical about COVID-19 vaccines. This panel influences U.S. vaccine policy, which could lead to financial implications for Americans, as changes in vaccine recommendations may affect insurance coverage and potentially increase out-of-pocket costs for certain vaccines.
Source: YAHOO
Reported about 1 month ago
Boeing, once a leader in the aerospace industry, faces significant challenges following a string of incidents, including its first fatal crash of the Boeing 787 Dreamliner. The company has been under pressure since the 737 Max crises, which led to a downturn in stock and reputation. Despite efforts to recover its safety culture and management, recent crashes, regulatory issues, and labor strikes have further dimmed its prospects as an eminent American manufacturer.
Source: YAHOO
Reported about 1 month ago
The upcoming $22 billion Treasury auction of 30-year government bonds is set to gauge investor appetite for U.S. debt, particularly amid concerns over weak demand from foreign investors. A poor showing could heighten anxieties about America's debt burden and the efficacy of Trump's fiscal policies, leading to increased borrowing costs and potential economic consequences. The auction is seen as a critical indicator of market sentiment regarding long-term U.S. debt, especially following a Moody's downgrade and ongoing uncertainty around trade policies and inflation.
Source: YAHOO
Reported about 1 month ago
US wholesale inflation increased by 0.1% in May, raising the annual rate to 2.6%, driven by higher goods prices but tempered by muted tariff impacts. Despite expectations for a larger increase, economists suggest that the overall pressures from tariffs may not yet fully reflect in prices. Core PPI saw a slight rise of 0.1%, and while durable consumer goods prices rose by 0.4%, analysts caution against overinterpreting the data due to volatility and potential future revisions. The Federal Reserve faces challenges, but is expected to maintain current rates in the near term.
Source: YAHOO
Reported about 1 month ago
Micron Technology announced a $200 billion investment to enhance semiconductor production in the U.S., with $150 billion allocated for new fabs across Idaho and New York, and $50 billion for research and development. The company has received significant funding, including $6.4 billion from the CHIPS Act, aiming to create thousands of American jobs and ensure a secure domestic semiconductor supply, positioning America as a leader in technology.
Source: YAHOO
Reported about 1 month ago
Economists warn that President Trump's tax and spending bill could add nearly $3 trillion to the national debt, exacerbated by ongoing tariff policies. While the White House projects more optimistic forecasts, independent economists highlight a significant $11 trillion gap in estimated revenues. As the nation approaches crucial deadlines related to tariffs and trade negotiations, the disconnect between these perspectives remains unresolved.
Source: YAHOO
Reported about 1 month ago
Source: YOUTUBE
Reported about 1 month ago
Temasek has partnered with Microsoft, BlackRock, and MGX to invest in and expand artificial intelligence infrastructure through the AI Infrastructure Partnership. This consortium aims to invest initially over $30 billion in AI-related projects, focusing on essential data centers and energy facilities for AI applications. Temasek's involvement signifies its commitment to future technological shifts, as the consortium seeks to mobilize up to $100 billion, primarily targeting the United States.
Source: YAHOO