Reported 4 days ago
Jessica Riedl from the Manhattan Institute argues that President Trump's economic policies, particularly his new tax bill, could lead to a $6 trillion increase in the deficit and are unlikely to promote growth. She points out that key pro-growth measures are temporary and that the tariffs and unpredictable nature of the proposed policies may negatively impact investment and manufacturing certainty.
Source: YAHOO
Reported 4 days ago
Tesla's stock has recently experienced a downturn despite a significant recovery over the past month. The decline is attributed to disappointing sales data, particularly in China, where electric vehicle registrations fell sharply. Investors are concerned about the company's market share and what upcoming sales reports will reveal, prompting some to sell their shares.
Source: YAHOO
Reported 4 days ago
Citi CEO Jane Fraser has weighed in on current financial market dynamics, indicating that we are entering a new phase of globalization characterized by strategic self-interest rather than cooperation. She noted that investors are increasingly reevaluating long-held beliefs, with markets reflecting this by pricing greater risks into assets. Fraser pointed out a trend towards diversification among investors, particularly towards Japan, India, and parts of Europe. Despite a recent downgrade of the U.S. credit rating and concerns about the impact of tariffs, she suggested that a slight easing in inflation and temporary tariff reductions provided some market relief, although uncertainty remains as companies navigate these challenges.
Source: YAHOO
Reported 4 days ago
US lawmakers are advancing the GENIUS Act, establishing regulatory frameworks and consumer protections for stablecoins, distinguishing them from the broader cryptocurrency market. Delta Blockchain Fund's Kavita Gupta highlights the bill's emphasis on requiring stablecoin issuers to maintain liquid reserves and adhere to strict transparency and accountability measures. With bipartisan support, the legislation is expected to pass the Senate soon, potentially reshaping the regulatory landscape for stablecoins and boosting investor confidence.
Source: YAHOO
Reported 4 days ago
The union representing about 2,500 submarine designers at Electric Boat in Groton, Connecticut, has tentatively agreed to a new contract that includes significant wage increases of over 30% over five years, avoiding a potential strike. The Marine Draftsmen’s Association had previously threatened to strike if demands for better wages and benefits were not met. The agreement follows negotiations that emphasized the importance of the workers' role in building the U.S. Navy's nuclear submarine fleet. Union members are set to vote on the deal soon.
Source: YAHOO
Reported 4 days ago
New York Federal Reserve President John Williams noted that while investors are reassessing their investments in U.S. assets amid uncertainty, there has been no significant movement away from them. He stated that the U.S. economy is performing well and the Fed's interest rate policy is appropriately restrictive, allowing time for better clarity on future adjustments in rates.
Source: YAHOO
Reported 4 days ago
Following Moody's downgrade of the US credit rating, Treasury yields surged, prompting responses from the Trump administration and Federal Reserve officials. President Trump disagreed with Moody's assessment, highlighting ongoing global confidence in US investments, while Treasury Secretary Scott Beson described the downgrade as a lagging indicator. Federal Reserve members, including Raphael Bostick and Philip Jefferson, noted the potential implications for prices and economic stability, emphasizing the need to monitor the situation closely.
Source: YAHOO
Reported 4 days ago
Tesla's stock fell at the start of the week following a broader market decline triggered by Moody's downgrade of U.S. credit ratings. Despite a positive trend over the past four weeks, recent disappointing sales and registration figures in Europe and China weighed on the electric vehicle maker. Shares were down over 2% in early trading on Monday and have declined roughly 16% since the year's beginning.
Source: YAHOO
Reported 4 days ago
Regeneron has agreed to buy DNA-testing company 23andMe for $256 million after it declared bankruptcy, a significant drop from its $6 billion valuation in 2021. The acquisition will see 23andMe continue its operations under Regeneron, utilizing its database of 15 million DNA samples to aid in drug discovery, while ensuring compliance with privacy policies. Despite past struggles to profit, the deal aims to enhance genetic research and personal health initiatives.
Source: YAHOO
Reported 5 days ago
Hispanic consumers in the U.S., who wield significant buying power estimated at $2.4 trillion, are altering their shopping behaviors in 2025 due to economic uncertainties, rising inflation, and concerns over immigration enforcement. A report from Kantar reveals a notable decline in in-store shopping among Hispanics compared to non-Hispanics, with significant drops in purchases across several categories, including clothing and household items. Retail experts suggest that this shift requires retailers to adapt their strategies to appeal to Hispanic shoppers, who are increasingly valuing online shopping and safety.
Source: YAHOO
Reported 5 days ago
TXNM Energy shares soared to an all-time high following the announcement of their acquisition by Blackstone's infrastructure division for $11.5 billion. Shareholders will receive $61.25 per share, representing a nearly 16% premium to its previous closing price. The deal also includes a plan for Blackstone to invest $400 million to support TXNM's growth, with the transaction expected to close in the second half of 2026.
Source: YAHOO
Reported 5 days ago
President Donald Trump has extended an invitation to Pope Leo XIV, the first American pope, to visit the White House. This gesture was made through a letter delivered by Vice President JD Vance, who recently attended the pope's inauguration. During the inaugural mass, Pope Leo expressed his commitment to fostering peace and reconciliation worldwide.
Source: YAHOO
Reported 5 days ago
The EU antitrust regulators have extended the decision deadline regarding UniCredit's acquisition of Banco BPM following a national authority's request for a takeover of the review process. Originally set for June 4, the new deadline for the decision is June 19, during which the Commission may approve, investigate further, or refer the matter to the national regulator.
Source: YAHOO
Reported 5 days ago
China has urged the U.S. to rectify its actions regarding the prohibition of advanced Chinese AI chips, such as Huawei's Ascend, which it views as discriminatory and harmful to its interests. The Chinese commerce ministry criticized the U.S. for abusing export controls and stated that continued restrictions could damage U.S. industrial competitiveness. This call for action follows a recent truce reached in trade discussions between the two nations.
Source: YAHOO
Reported 5 days ago
At the Computex 2025 conference in Taiwan, Nvidia's CEO Jensen Huang announced advancements in humanoid robotics and the launch of its NVLink technology for customizable AI infrastructure. Qualcomm plans to utilize Nvidia's tech in developing data center CPUs. Meanwhile, Netflix's stock has been downgraded to Neutral by JPMorgan, citing valuation concerns despite a 90% increase over the past year.
Source: YAHOO
Reported 5 days ago
Recent analysis from top Wall Street firms shows significant downgrades for Netflix and Reddit. JPMorgan has downgraded Netflix to Neutral, while Wells Fargo has similarly downgraded Reddit, citing ongoing user disruptions. Other notable movements include upgrades for Charter and United Airlines, reflecting changes in market projections and economic conditions.
Source: YAHOO
Reported 5 days ago
Novavax's shares surged by 25% after the FDA approved its new protein-based COVID-19 vaccine, Nuvaxovid, designed for older adults and those aged 12 to 64 with underlying health conditions. Developed in partnership with Sanofi, which has agreed to pay Novavax $175 million, the vaccine is distinct from others on the market as it does not use mRNA technology. Commercial delivery is expected in the fall for the 2025-2026 vaccination season.
Source: YAHOO
Reported 5 days ago
Walmart shares fell in early trading following President Trump's suggestion that the retailer should absorb tariffs instead of passing costs to customers. CEO Doug McMillon warned that profits may decline this year due to the challenges of narrow retail margins, which make absorbing tariffs difficult. Despite a 9% increase in stock value this year, shares dropped about 2% after Trump's remarks, as he urged Walmart not to blame tariffs for price increases.
Source: YAHOO
Reported 5 days ago
The U.S. Trade Representative, Jamieson Greer, is conducting a second round of hearings regarding port fees imposed on Chinese ships operating in the U.S., aimed at counteracting China's maritime dominance and revitalizing American shipbuilding. Changes from the previous proposal were made following public feedback, but this round is expected to result in fewer significant adjustments. American exporters express concerns that these fees could make their products less competitive, with potential additional costs for shippers as the maritime supply chain navigates these changes.
Source: YAHOO
Reported 5 days ago
Bath & Body Works has appointed Daniel Heaf, the former chief strategy and transformation officer at Nike, as its new CEO, effective immediately. He succeeds Gina Boswell, who has been temporarily absent for surgery since March. The leadership change comes amid challenges in discretionary spending, but the company reported a 3% increase in net sales for the first quarter, meeting analysts' expectations.
Source: YAHOO
Reported 5 days ago
Toyota Industries Corp is reportedly planning to accept a tender offer from Toyota Motor Corp, with details expected to be announced soon. Despite both companies declining to comment on the report, there are indications of Toyota potentially borrowing up to 3 trillion yen to finance the acquisition, which could reshape Japan's corporate landscape.
Source: YAHOO
Reported 5 days ago
Investors should brace for potential negative surprises in the market after Moody's downgraded the US credit rating, citing large fiscal deficits and rising interest costs. As optimism about stock performance resurges amid US-China trade improvements, the upcoming third quarter earnings season may reveal the true impact of tariffs, which analysts expect to be more significant than in the previous quarters. Concerns about profit outlooks have been echoed by executives in recent earnings calls, signaling a possible market shift as tariff effects begin to materialize.
Source: YAHOO
Reported 5 days ago
In the wake of a US-China trade agreement, markets have shown a positive response with significant gains in major indices like the S&P 500 and Nasdaq. However, concerns arise about the sustainability of this rally, particularly regarding corporate earnings and potential impacts from tariffs. Market strategist Adam Parker discusses his cautious outlook in a recent podcast, emphasizing that while initial earnings reports have exceeded expectations, uncertainty looms over future performance, particularly as economic conditions evolve.
Source: YAHOO
Reported 5 days ago
Revolut, the British financial technology company, has unveiled plans to invest €1 billion ($1.1 billion) over the next three years to expand its operations in France. This investment includes the opening of a new office in Paris and the creation of at least 200 jobs. The announcement was made during the 'Choose France' investment summit, where Revolut also expressed intentions to apply for a French banking license to enhance its services tailored for the French market.
Source: YAHOO