Reported 21 days ago
Prime Minister Justin Trudeau has announced a plan requiring Canada's oil and gas industry to reduce emissions by 35% from 2019 levels by implementing a cap-and-trade system. This initiative, aimed at reaching net-zero emissions by 2050, has sparked backlash from provinces like Alberta, with leaders threatening legal challenges. The plan includes incentives for companies to invest in pollution-reducing projects, but criticisms arise over its potential impact on the economy and energy prices, while the government maintains growth in production levels.
Source: YAHOO
Reported 21 days ago
Trex CEO Bryan Fairbanks discussed the positive implications of potential interest rate cuts for the repair and remodel industry amid a challenging housing market. With first-time homebuyers at a historic low, Fairbanks believes that decreased mortgage rates will encourage more home sales, leading to increased spending on renovations.
Source: YAHOO
Reported 21 days ago
Investors are currently avoiding major investments as they prepare for significant events that could sway the market, such as the US presidential election and the Federal Reserve's policy decision. On Monday, the markets closed down, with the S&P 500 dropping 0.28% and the Dow Jones Industrial Average falling over 250 points. Piper Sandler Chief Investment Strategist Michael Kantrowitz highlighted that volatility is expected, but investors are hesitant to place large bets given the close nature of the electoral race.
Source: YAHOO
Reported 21 days ago
In light of the upcoming elections, various strategies are being suggested to help individuals cope with anxiety during this period. Emphasizing the importance of focusing on what can be controlled, experts recommend implementing practical approaches to mitigate stress as voting day approaches.
Source: YAHOO
Reported 21 days ago
Sensata Technologies (ST) reported Q3 earnings of $0.86 per share, matching analyst expectations but down from $0.91 a year ago. Revenues were $982.83 million, slightly missing estimates and lower than last year's $1 billion. The company has struggled this year, with shares down 8.2%, and currently holds a Zacks Rank of #4 (Sell), indicating potential underperformance in the near term.
Source: YAHOO
Reported 21 days ago
In the past week, diesel futures have experienced significant volatility, yet the benchmark retail price for diesel has decreased, falling by 3.7 cents to $3.536 per gallon, the lowest since late September. The futures market saw a sharp initial decline followed by a rise, while retail prices lagged behind these changes. Key events influencing the market include geopolitical tensions and OPEC's production decisions, as well as varying projections for global oil demand.
Source: YAHOO
Reported 21 days ago
A recent poll by Iowa's renowned pollster J. Ann Selzer indicates Vice President Kamala Harris leading Donald Trump, shaking Wall Street's confidence in a Trump victory. The unexpected results have shifted market predictions, with the U.S. dollar dropping and currencies like the Mexican peso gaining strength. Trump's economic policies, once seen as a potential market overhaul, are now viewed with skepticism, causing declines in U.S. Treasury yields and crypto prices. Trump's stock in his media company rose despite the political turbulence, marking a complex reaction from the markets.
Source: YAHOO
Reported 21 days ago
Rick Dreiling has resigned as CEO of Dollar Tree after nearly two years, with Michael Creedon Jr. stepping in as interim CEO. This change comes amid health issues faced by Dreiling and a significant drop in the company’s stock this year. Despite the leadership change, Dollar Tree reaffirmed its third-quarter forecasts and continues to explore strategic options, including potential sales within its Family Dollar segment.
Source: YAHOO
Reported 21 days ago
As the US presidential election approaches, major stock indexes experienced declines, with Wall Street preparing for the outcome on November 5. Yahoo Finance's Josh Schafer highlights key market movements and trades to observe in the minutes following the election results, focusing on anticipated shifts in stock performance.
Source: YAHOO
Reported 21 days ago
Itau Unibanco has revised its portfolio growth expectations upward after reporting an 18% increase in its third-quarter net recurring profit, amounting to 10.68 billion reais. The largest private lender in Latin America anticipates its credit portfolio to grow between 9.5% and 12.5%, significantly higher than previous estimates. This positive adjustment comes as the bank completes its overhaul of the personal credit segment, which has led to improved performance indicators, including a reduction in delinquency rates and an increase in return on equity.
Source: YAHOO
Reported 21 days ago
Palantir Technologies' shares experienced a spike in after-hours trading following the company’s strong quarterly results. Analyst Malik Ahmed Khan from Morningstar praised the company’s performance but maintained a Sell rating on the stock, expressing concerns about its valuation compared to future growth expectations. He acknowledged Palantir’s solid position in the AI space but emphasized the need for cautious assessment of its margins and growth outlook over the next five to ten years.
Source: YAHOO
Reported 21 days ago
Source: INVESTORS
Reported 21 days ago
A Turkish national, Taskin Torlak, was arrested in Miami while attempting to travel back to Turkey, accused of conspiring to illegally trade Venezuelan oil and violating U.S. sanctions. He allegedly led a scheme since November 2020 to sell oil from Venezuela and Iran by disguising the origins of the shipments and evading detection by U.S. authorities. Torlak is charged with conspiring against the International Emergency Economic Powers Act and received significant payments from Venezuela's state oil company in the process.
Source: YAHOO
Reported 21 days ago
AIG surpassed Wall Street profit estimates for the third quarter, benefiting from robust underwriting and investment returns. The company's net premiums written in general insurance rose 6% to $6.38 billion, with a notable performance in Commercial Lines. Despite facing $417 million in catastrophe losses, AIG's adjusted after-tax income increased to $1.23 per share, exceeding analyst expectations. This reflects resilience in a challenging environment marked by significant industry losses due to climate-related disasters.
Source: YAHOO
Reported 21 days ago
On November 5, the 2024 presidential election will take place with Vice President Kamala Harris facing former President Donald Trump. Key earnings reports are expected from companies such as Ferrari, Yum! Brands, and GlobalFoundries. Additionally, the latest US trade deficit data will be released, and Boeing workers will vote on a new contract proposal.
Source: YAHOO
Reported 21 days ago
Source: INVESTORS
Reported 21 days ago
A consortium of financial technology and cryptocurrency companies, including Robinhood, Kraken, and Galaxy Digital, has introduced the Global Dollar Network, featuring a new stablecoin called USDG pegged to the U.S. dollar. This initiative aims to enhance the global usage of stablecoins and is designed to provide economic benefits to its participants. USDG will be issued by Paxos in Singapore and is facing competition from dominant players like Tether and USD Coin. The network promotes access for anyone interested in joining, to foster broader adoption of stablecoin technology.
Source: YAHOO
Reported 21 days ago
Wynn Resorts reported lower-than-expected quarterly profits and revenues, primarily driven by a sluggish casino business in Las Vegas, which saw a 1.9% drop in revenue to $607.17 million. The company's total revenue for Q3 amounted to $1.69 billion, falling short of analysts' expectations of $1.73 billion, and its adjusted profit per share of 90 cents was also below projections.
Source: YAHOO
Reported 21 days ago
The future of the CHIPS Act, aimed at boosting U.S. semiconductor manufacturing, is now uncertain due to political tensions as the presidential election approaches. Initially passed with bipartisan support, the Act has become contentious, with House Speaker Mike Johnson suggesting potential repeal under a Trump administration, which led Vice President Kamala Harris to defend its importance for U.S. competitiveness against China. Major semiconductor companies are in limbo as they await federal grants, with only one company receiving funding so far, raising concerns about the effectiveness and speed of the initiative.
Source: YAHOO
Reported 21 days ago
US stocks experienced a decline on Monday, led by the Dow Jones Industrial Average, as investors prepared for a pivotal week with the presidential election and a Federal Reserve policy meeting imminent. The market uncertainty stems from the closely contested race between Kamala Harris and Donald Trump, with expectations of increased volatility and significant implications for the economy based on the election outcome.
Source: YAHOO
Reported 21 days ago
NXP Semiconductors has projected its fourth-quarter revenue to be below analysts' estimates due to uncertain demand and economic weakness, particularly in Europe and the Americas. The company's shares fell 5% following this announcement. NXP anticipates a mid-point revenue of $3.10 billion, lower than the expected $3.36 billion, as it faces declining sales in the industrial and IoT markets while experiencing slight growth in automotive and mobile sectors.
Source: YAHOO
Reported 21 days ago
Source: BARRONS
Reported 21 days ago
NXP Semiconductors experienced its largest decline in over three months after revealing a disappointing fourth-quarter forecast, largely driven by a slowdown in automotive sales and weak industrial demand. The company projects fourth-quarter revenue of $3 to $3.2 billion, falling short of analyst expectations, while its automotive segment reported a 3% sales drop compared to the previous year. Analysts noted that the ongoing industrial weakness and cautious consumer behavior, particularly in the U.S. and Europe, further contributed to the grim outlook.
Source: YAHOO
Reported 21 days ago
Source: INVESTORS
Reported 21 days ago
Emerging currencies from regions including Latin America and Eastern Europe rallied as traders adjusted their strategies before the highly contentious US elections. Notably, recent polls suggesting Vice President Kamala Harris's rise in swing states influenced this shift, causing currencies like the Brazilian real and Mexican peso to gain. While some analysts speculate on possible market reactions, uncertainties remain about the election's outcome and its impact on monetary policy.
Source: YAHOO