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
Reported 3 days ago
Despite heightened volatility in the markets due to geopolitical tensions, upcoming elections, and Federal Reserve policies, the US economy is described as 'chugging along' according to MJP Wealth Advisors Chief Investment Officer Brian Vendig. He emphasizes the importance of focusing on long-term fundamentals and suggests retirement investors review their contributions and consider municipal bonds for stability.
Source: YAHOO
Reported 3 days ago
The September jobs report is anticipated to show an increase of 150,000 in nonfarm payrolls, up from 142,000 in August, with the unemployment rate likely remaining at 4.2%. However, hourly wage growth is expected to slightly decline to 0.3% from August's 0.4%. Brad Smith on Wealth! discusses these labor market insights along with other indicators to gauge employment trends.
Source: YAHOO
Reported 3 days ago
Constellation Energy is pursuing taxpayer funds to reopen the Three Mile Island nuclear power plant with the goal of supplying power to Microsoft's data centers. The company is requesting a loan guarantee of $1.6 billion for this initiative.
Source: YAHOO
Reported 3 days ago
Levi Strauss & Co. has cut its full-year outlook, causing its stock to fall, but CFO Harmit Singh expressed optimism about the company's fundamentals during a discussion with Yahoo Finance. He noted that while revenue was at the lower end of expectations, the company's profitability is improving, with significant growth in the women's segment and overall brand strength. Despite challenges in specific regions and the Dockers brand, Singh remains positive about consumer resilience and the denim market's momentum.
Source: YAHOO
Reported 3 days ago
The article explores the differing investment styles of Generation Z and baby boomers, highlighting how each generation's market experiences shape their financial strategies. While boomers adopt a cautious approach due to historical volatility and inflation crises, Gen Z tends to favor high-risk investments, influenced by their experiences during the pandemic and the rise of cryptocurrencies. Research from JPMorgan emphasizes the importance of considering market environments and warns against the excessive allocation of cash, suggesting it may hinder long-term growth.
Source: YAHOO
Reported 3 days ago
Mortgage rates increased slightly this week, with the average for a 30-year fixed-rate mortgage rising to 6.12% as of Thursday, up from a two-year low of 6.08% the previous week. The uptick follows an increase in Treasury yields, influenced by economic conditions and geopolitical tensions. Despite higher rates, homebuyer applications have risen, indicating continued demand in the housing market.
Source: YAHOO
Reported 3 days ago
Oil prices jumped after discussions about potential strikes on Iran's oil facilities were revealed, causing speculation that prices could reach $100 per barrel. Analyst Scott Shelton noted significant buying of $100 options but emphasized that the current spike may be driven more by fear than actual supply constraints, as there remains substantial spare capacity. The restart of oil production in Libya may also influence inventory levels positively.
Source: YAHOO
Reported 3 days ago
Oil prices jumped over 5% on Thursday due to concerns about potential supply disruptions following increased tensions between Israel and Iran, particularly after President Biden hinted at a possible Israeli attack on Iran's oil facilities. West Texas Intermediate futures rose to $73.71 per barrel, while the Brent benchmark closed at $77.76, fueled by fears of further military escalation and potential blockages in key shipping routes like the Strait of Hormuz.
Source: YAHOO
Reported 3 days ago
Stocks slid on Thursday as investors braced for the upcoming jobs report, with the Dow falling 0.4% and the S&P 500 decreasing by nearly 0.2%. Concurrently, escalating tensions in the Middle East spurred a significant 5% rise in oil prices due to fears of supply disruptions related to potential Israeli retaliatory strikes on Iranian oil facilities. The markets are particularly focused on Friday's jobs data, which may indicate cooling in the labor market.
Source: YAHOO
Reported 3 days ago
Google has announced significant updates to its Search and Lens platforms, including the use of AI to organize search results and introduce ads in its AI Overviews feature. The AI-organized results, aimed at providing answers to open-ended queries, will start with recipes and meal ideas, while the Lens app will allow users to ask questions about live objects through visual searches. These changes reflect Google's initiative to enhance its monetization of generative AI technologies, aiming to improve user experience and advertiser engagement.
Source: YAHOO