Reported 3 days ago
Former Atlanta Fed President Dennis Lockhart anticipates a 25 basis points cut in the Federal Reserve's interest rate in November, emphasizing the current strength of the labor market despite some concerns about potential weaknesses. The market is closely watching the upcoming jobs report for further clarification on the Fed's monetary policy direction.
Source: YAHOO
Reported 3 days ago
Tesla's stock has dipped as the company plans a $783 million debt sale, which has raised concerns among investors. Meanwhile, a report revealed Tesla's intention to launch four new battery models by 2026, including one for its robotaxi project. Compounding these issues, Tesla has announced a recall of 27,000 Cybertrucks due to a camera malfunction, negatively affecting investor confidence ahead of its upcoming robotaxi event on October 10th.
Source: YAHOO
Reported 3 days ago
The Dow Jones Industrial Average dropped 184 points on Thursday, while the S&P 500 and Nasdaq Composite closed slightly lower. Investors are waiting for the September jobs report due Friday, which could offer new insights into the economy and future Federal Reserve policies.
Source: YAHOO
Reported 3 days ago
Red Lobster's new CEO, Damola Adamolekun, highlighted that the popular Endless Shrimp promotion, aimed at boosting customer traffic, resulted in financial turmoil and chaos within the restaurant chain, leading to significant losses and even bankruptcy. After enduring a challenging few months, Adamolekun is focused on revitalizing the company through restaurant improvements and menu adjustments, while emphasizing the need for a more sustainable promotional strategy.
Source: YAHOO
Reported 3 days ago
The stock market experienced a downturn on Thursday, with the Dow Jones Industrial Average dropping about 0.4% and the S&P 500 falling nearly 0.2%, as investors awaited the impending jobs report. Meanwhile, escalating tensions in the Middle East led to a 5% spike in oil prices, fueled by fears of supply disruptions from a potential Israeli retaliatory strike against Iran. With the monthly jobs data set for release on Friday, market focus remains on the health of the labor market.
Source: YAHOO
Reported 3 days ago
Shares of EVgo, a leading electric vehicle charging company, jumped 60% after the Department of Energy pledged a conditional $1.05 billion loan to help expand its charging network. The news has generated significant market interest and discussions among financial experts.
Source: YAHOO
Reported 3 days ago
In 2025, taxpayers in 24 states will be able to file their taxes directly with the IRS through the expanded Direct File program, which was initially piloted in 2024. This initiative enables over 30 million people to submit their tax returns without commercial software, potentially claiming various credits. The program's expansion aims to streamline the tax process and reduce reliance on commercial tax preparation services.
Source: YAHOO
Reported 3 days ago
McDonald's will introduce the Chicken Big Mac in the US starting October 10, following its successful launch in the UK where it sold out quickly. This sandwich features two tempura chicken patties, the classic Big Mac sauce, pickles, shredded lettuce, and American cheese. The fast-food giant aims to boost sales with more chicken offerings, responding to customer demand and shifting market dynamics.
Source: YAHOO
Reported 3 days ago
Southwest Airlines board member Rakesh Gangwal has purchased 3.6 million shares for approximately $108 million, reflecting strong insider confidence in the airline's future. This investment comes amid ongoing activist investor pressure from Elliot Management, raising discussions about the stock's potential and market implications.
Source: YAHOO
Reported 3 days ago
Nvidia's stock experienced a significant rise following CEO Jensen Huang's remarks regarding the unprecedented demand for its upcoming Blackwell AI processors, which he described as 'insane'. The strong market interest in Nvidia's AI computing hardware has fueled this rally.
Source: YAHOO
Reported 3 days ago
Tensions between Israel and Iran are rising following a missile attack, creating concern in the oil market. Israeli strikes on Iran's Kharg Island, a critical oil export hub, could severely disrupt crude exports, causing prices to jump significantly. Analysts suggest that if attacks occur, oil prices could rise by $10 to $15 per barrel, with potential long-term implications for global oil supply, particularly if the Strait of Hormuz is affected.
Source: YAHOO
Reported 3 days ago
Oil prices surged more than 5% on Thursday, driven by concerns of potential supply disruptions following President Biden's comments on Israeli military actions against Iran. West Texas Intermediate futures rose to $73.71 per barrel, while Brent crude increased to $77.76, fueled by fears that retaliatory strikes could target Iranian oil facilities, exacerbating already tense conditions in the Strait of Hormuz.
Source: YAHOO
Reported 3 days ago
Tesla Inc. is preparing to market a $783 million debt sale that is backed by car leases, joining a trend in the automotive asset-backed securities market. Managed by Societe Generale, this would be Tesla's second transaction this year, following a $750 million deal earlier. The move comes amid a spike in ABS activity, attributed to falling interest rates and narrowing spreads, positioning Tesla alongside other major U.S. automakers in utilizing the ABS market.
Source: YAHOO
Reported 3 days ago
A federal judge in Georgia has allowed President Biden's broader student debt relief plan to proceed, transferring the case to a Missouri court. This development could potentially lead to more than 20 million Americans receiving relief from their student loans. While many borrowers may see adjustments to their loan amounts rather than full forgiveness, there is cautious optimism regarding the possibility of relief being implemented soon.
Source: YAHOO
Reported 3 days ago
As the September jobs report approaches, expert Andy Challenger discusses the U.S. labor market, noting that job cuts in 2024 are consistent with last year's figures. He describes the current job landscape as 'relatively calm', with a stable hiring rate and no significant changes in layoffs or hires, indicating moderate workforce adjustments.
Source: YAHOO
Reported 3 days ago
Constellation Brands reported mixed earnings results for the second quarter, with the CEO noting that tough macroeconomic conditions have negatively affected consumer demand and pressured the company's operations and profit margins. Analysts are evaluating the beverage giant's financial performance against the broader challenges in the alcohol industry.
Source: YAHOO
Reported 3 days ago
Nvidia's stock rose nearly 5% as CEO Jensen Huang announced 'insane' demand for the company's Blackwell chips, which are now in full production despite earlier design issues. This surge follows concerns around delays but comes amid strong confidence in artificial intelligence market growth. Analyst recommendations remain highly positive, with expectations of further stock price increases.
Source: YAHOO
Reported 3 days ago
As a significant port strike on the East and Gulf Coasts persists, major retailers like Walmart, Target, and Nike face potential disruptions to their operations. With perishable goods at risk and holiday inventory running low, these companies are preparing for possible shortages and increased costs. Retail experts suggest that if the strike lasts longer than anticipated, the impact could be felt deeply in margins and sales as they struggle to source goods while managing supply chain challenges.
Source: YAHOO
Reported 3 days ago
The upcoming September jobs report is anticipated to show a rise of 150,000 in nonfarm payrolls while the unemployment rate remains steady at 4.2%. Key indicators suggest a cooling labor market, but no significant weakening that would lead the Federal Reserve to consider a major interest rate cut in November. Economic analysts expect growth in employment to improve slightly from August, with broader signs indicating stable hiring rather than mass layoffs.
Source: YAHOO
Reported 3 days ago
As the 2024 presidential election nears, housing affordability remains a pressing issue for many Americans. The debate intensifies around who can effectively address the housing crisis, with Vice President Kamala Harris and former President Donald Trump presenting their strategies to restore home-buying opportunities in a challenging market.
Source: YAHOO
Reported 3 days ago
Doom spending is a financial behavior where individuals spend excessively to cope with anxiety, leading to more money worries. Yahoo Finance expert Rachelle Akuffo discusses this phenomenon and offers tips to help avoid falling into this spending trap, emphasizing the importance of managing financial fears instead of trying to spend them away.
Source: YAHOO
Reported 3 days ago
U.S. stock markets are experiencing a decline following an increase in initial jobless claims. Concurrently, oil prices are surging in response to President Biden's comments regarding potential military actions involving Iran, particularly connected to attacks on Israel. The housing market is also feeling pressure as mortgage rates rise, while attention now shifts to the upcoming jobs report that may influence the Federal Reserve's decisions on interest rates.
Source: YAHOO
Reported 3 days ago
EVgo Inc. saw its shares rise by 64% after receiving a conditional loan guarantee of up to $1.05 billion from the U.S. Department of Energy. The funding is intended to support the expansion of its electric vehicle charging network, enabling the installation of 7,500 fast charging stalls across various states, including Arizona and California, as part of the Biden administration's push for a national electric vehicle charging network.
Source: YAHOO
Reported 3 days ago
The U.S. government and Microsoft have taken action against a Russian hacking group known as Star Blizzard, which aimed to infiltrate Western think tanks, journalists, and government officials through sophisticated phishing emails. Over 100 website domains linked to Star Blizzard were seized following a lawsuit, as part of a broader effort to counter cyberattacks from Russia. Authorities allege the group has a history of targeting sensitive information and have been active since at least 2017.
Source: YAHOO
Reported 3 days ago
Levi Strauss & Co.'s CFO, Harmit Singh, discussed the ongoing port strike and its possible effects on the company's operations, particularly in December. Although the company has taken measures to mitigate disruptions by balancing shipments between coasts and air freighting new products, Singh warned that prolonged strikes could affect the holiday shopping experience for consumers.
Source: YAHOO