Reported about 1 month ago
The United Arab Emirates has pledged a 10-year investment framework worth $1.4 trillion in the United States after discussions with President Trump. This investment aims to enhance the UAE's presence in sectors such as AI, semiconductors, and energy, including a new aluminum smelter project expected to significantly boost U.S. aluminum production. The commitment highlights the UAE's efforts to strengthen economic ties with the U.S. and transition towards diversification beyond oil.
Source: YAHOO
Reported about 1 month ago
France is advocating for the European Union to deploy its anti-coercion instrument as a response to potential US tariffs, marking the first time this powerful trade measure could be utilized against the US. With President Trump threatening sweeping tariffs from April 2, EU nations, including France, are considering retaliation measures to counteract what they see as unfair economic coercion. The EU's response is still under discussion as officials prepare for the upcoming US tariffs.
Source: YAHOO
Reported about 1 month ago
The Social Security Fairness Act, recently enacted by the Biden administration, is expected to expedite the insolvency of the Social Security Old-Age and Survivors Insurance trust fund by approximately six months, according to Wharton professor Olivia Mitchell. The Act, which eliminated certain provisions that previously reduced benefits for public sector employees, is projected to leave the fund unable to provide full benefits beyond 2033, necessitating substantial cuts thereafter. Experts caution that unless comprehensive reforms are initiated, the challenges facing the trust fund will deepen.
Source: YAHOO
Reported about 1 month ago
With rising fears of recession affecting US stock markets, Mindy McIntosh, CEO of McIntosh & Associates, discusses how financial advisors are helping their clients navigate this volatile environment. She emphasizes the importance of addressing client concerns about inflation, taxes, and market corrections by making strategic adjustments to portfolios, including exploring options like private equity, alternative indexing, and real estate investments to mitigate risks.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Following the Federal Reserve's neutral stance on interest rates, Wall Street has redirected its attention to President Trump's tariffs and their potential impacts on corporate earnings. The recent market rally has faltered as concerns about how tariffs might influence consumer spending and economic activity remain prevalent. Investors are cautiously awaiting further developments, particularly as the bulk of tariff plans have been postponed until April 2. The market is also facing pressures from a decline in major technology stocks, raising concerns about a broader downturn.
Source: YAHOO
Reported about 1 month ago
Federal Reserve Governor Christopher Waller expressed his disagreement with the decision to slow the pace of reducing securities holdings, emphasizing that the banking system still has ample reserves exceeding $3 trillion. He argued that maintaining the current rate of balance sheet runoff is crucial for normalizing monetary policy, and suggested that a strategy be developed to manage potential short-term strains instead of halting reductions.
Source: YAHOO
Reported about 1 month ago
Micron Technology Inc. faced an 8% drop in shares following a disappointing margin forecast, overshadowing its positive quarterly revenue outlook attributed to AI semiconductor demand. Despite being a key supplier of high-bandwidth memory for AI, the company's projected gross margin fell short of expectations due to declining prices in consumer memory chips and an oversupplied NAND Flash market. Although revenue estimates remain high due to AI demand, the challenging industry environment is impacting profitability.
Source: YAHOO
Reported about 1 month ago
Deere (DE) stock has seen a minor decline but is considered a defensive choice in light of tariff uncertainties. Analysts highlight Deere's strong positioning due to its U.S. operations, as 75% of its products are assembled domestically. This characteristic may shield the company from tariff impacts and appeal to investors seeking safer options in the current market landscape.
Source: YAHOO
Reported about 1 month ago
Despite plummeting sales and cautious sentiment on Wall Street, Tesla's retail investors are purchasing shares at an extraordinary pace, contributing $8 billion over 13 consecutive days. This surge comes as CEO Elon Musk's fans remain enthusiastic, undeterred by a 17% drop in stock value. Analysts have lowered profit and sales expectations, citing increased competition and negative brand sentiment, yet some maintain buy ratings, attributing potential growth to advancements in robotics and AI.
Source: YAHOO
Reported about 1 month ago
Alnylam Pharmaceuticals has received expanded US approval for its heart drug, Amvuttra, aimed at treating transthyretin amyloid cardiomyopathy (ATTR-CM), allowing it to compete against Pfizer’s established products. While Amvuttra presents a promising treatment option with claims extending beyond its competitors, including a focus on urgent heart failure, its high price and the need for injections every three months pose challenges against Pfizer’s more affordable and convenient oral medications. Analysts predict significant market potential for Alnylam, yet its ability to unseat Pfizer remains uncertain.
Source: YAHOO
Reported about 1 month ago
Elon Musk held an unexpected all-hands meeting at Tesla, where he attempted to calm fears among employees and investors as the company's stock faces significant decline and growing protests. He acknowledged the vandalism against Tesla vehicles, emphasizing the company's future growth plans, including advancements in autonomous driving and new product launches. Musk urged stakeholders to remain optimistic and hold onto their Tesla stock, citing the potential for the fleet to expand significantly.
Source: YAHOO
Reported about 1 month ago
Korean Air is set to finalize a significant $32.7 billion deal for Boeing aircraft and GE Aerospace engines, as South Korea's industry minister visits the US to bolster bilateral ties. The agreement includes orders for 20 Boeing 777-9 and 20 787-10 planes, with options for 10 more, alongside spare engines and maintenance services. This move comes amid growing concerns regarding US trade policies and aims to enhance cooperation in various sectors between the two nations.
Source: YAHOO
Reported about 1 month ago
The U.S. Secret Service met with General Motors executives to discuss advancements in next-generation armored SUVs essential for the evolving security needs of presidential transportation. This follows a $14.8 million contract awarded to GM for developing the new presidential limousine, known as 'The Beast,' with potential expanded funding up to $40.8 million through 2029. The meeting underscored the agency's commitment to enhancing the protective fleet amidst ongoing security challenges.
Source: YAHOO
Reported about 1 month ago
A surge in vandalism against Tesla vehicles and showrooms, fueled by anger towards Elon Musk, has drawn sharp reactions from the GOP, with officials labeling the attacks as domestic terrorism. Protests organized by the group Tesla Takedown are set to escalate, with upcoming demonstrations planned globally. Amidst this growing backlash, Tesla's reputation and stock prices have plummeted, raising concerns about the brand's future as political tensions rise around it.
Source: YAHOO
Reported about 1 month ago
Israeli Defense Minister Israel Katz announced that the country will permanently annex land in Gaza if Hamas fails to release hostages, following recent military escalations and the breakdown of a ceasefire. This threat comes amid rising tensions and protests within Israel against the government's handling of the situation and its legal actions regarding its intelligence agency's leadership. Hamas continues to hold hostages from an earlier attack, complicating talks mediated by international parties.
Source: YAHOO
Reported about 1 month ago
BuildOps has raised $127 million in a late-stage funding round, achieving a $1 billion valuation. The company aims to scale its operations to meet the increasing demand for its AI-enabled software platform used by commercial contractors. Led by Meritech Capital Partners with participation from investors like Schneider Electric and Fika Ventures, BuildOps focuses on growth and product development, targeting strategic acquisitions, while profitability remains a secondary concern for now.
Source: YAHOO
Reported about 1 month ago
Tether, the largest stablecoin issuer, is in discussions with a Big Four accounting firm to conduct an audit of its reserves, emphasizing the urgency for improved transparency. CEO Paolo Ardoino expressed optimism that the audit process will be facilitated by the current U.S. administration's favorable stance towards cryptocurrency. Tether has over $140 billion in its dollar-pegged tokens and recently appointed a CFO to lead this financial audit initiative.
Source: YAHOO
Reported about 1 month ago
Nike Inc. saw its shares fall as much as 9.3%, dropping its market value below $100 billion for the first time since the Covid-19 pandemic. The company's earnings report indicated that revenue and profitability would continue to face challenges, resulting in a more than 60% decline in stock price from its November 2021 peak. Despite these setbacks, some analysts maintain confidence in new CEO Elliott Hill's ability to lead a turnaround.
Source: YAHOO
Reported about 1 month ago
Quantum Computing (QUBT) shares dropped significantly after the company reported a substantial fourth-quarter loss driven by merger-related expenses. The net loss of $0.47 per share was over five times greater than the previous year, with revenue also down by 17%. Although shares briefly surged earlier due to positive news from competitor D-Wave Quantum, they ultimately fell 14% at market opening, reflecting a sharp decline in value over the past few months.
Source: YAHOO
Reported about 1 month ago
U.S. natural gas prices increased slightly as record levels of gas flowed to LNG export plants, despite remaining near a three-week low due to high output and mild weather reducing heating demand. Gas futures for April delivery settled at $3.980 per million British thermal units, with expectations of low demand allowing for increases in storage levels. The U.S. has seen a significant rise in LNG exports, becoming the world's largest supplier in 2023, boosting overall demand and prices in the global market.
Source: YAHOO
Reported about 1 month ago
Nvidia Corp.'s stock is on high alert for traders after forming a 'death cross', where its 50-day moving average fell below the 200-day average, typically indicating potential losses. Following a less-than-optimistic keynote by CEO Jensen Huang, the shares are down over 13% this year, as concerns grow about AI spending amid uncertain economic conditions. With few catalysts ahead, investors are worried about Nvidia's growth promises and the broader artificial intelligence market.
Source: YAHOO
Reported about 1 month ago
Morgan Stanley analyst Adam Jonas, a notable Tesla bull, has downgraded his delivery estimates for the company due to increased competition, an aging product lineup, and a negative brand sentiment among consumers. Despite seeing potential for significant upside, he cautioned that Tesla's stock could be volatile, with projections indicating a possible decline to $200 or a rise to $800 within the next year. Factors contributing to the stock's underperformance include reduced sales in key markets and prevalent insider selling.
Source: YAHOO
Reported about 1 month ago
Heathrow Airport has closed following a fire at a nearby electrical substation that led to a significant power outage. This closure has resulted in over 1,300 flight cancellations and created travel chaos worldwide. Consequently, travel and leisure stocks in both the US and UK are facing pressure.
Source: YAHOO