Reported 21 days ago
China has lodged a complaint with the World Trade Organization against the European Union's anti-subsidy tariffs on Chinese electric vehicles, which it claims violate WTO rules. The EU recently announced import duties of up to 35% on these vehicles, arguing they undercut local prices, while China insists the move is an abusive protectionist measure targeting its growing green technology exports.
Source: YAHOO
Reported 21 days ago
J.B. Hunt Transport Services has announced a significant reshuffle in its executive management team as it prepares for a potential uptick in the freight market. Nick Hobbs retains his role as chief operating officer while also becoming president of highway services, overseeing key businesses amid ongoing operational losses in the brokerage segment. Other notable appointments include Brad Hicks as president of the dedicated unit and David Keefauver as executive vice president of people. These changes, effective December 1, aim to align the company's leadership strengths to enhance service delivery and capture market opportunities.
Source: YAHOO
Reported 21 days ago
The IRS has announced that starting January 1, 2025, workers will be able to contribute an additional $500 annually to their retirement accounts, raising the contribution limit for 401(k), 403(b), government 457 plans, and the Thrift Savings Plan to $23,500.
Source: YAHOO
Reported 21 days ago
Source: YAHOO
Reported 21 days ago
A lockup period preventing Peter Thiel's venture capital firm from selling its stake in Oklo Inc., a nuclear technology developer backed by Sam Altman, is set to end, allowing the firm to begin divesting shares. Oklo's stock has experienced significant volatility and is currently valued at about $2.5 billion, providing substantial returns for early investors since its public listing earlier this year. As interest in the nuclear industry surges, potential sales from major investors could further impact the stock's movement.
Source: YAHOO
Reported 21 days ago
In a recent discussion, Smead Capital Management CEO Cole Smead highlighted the importance of expanding one's 'circle of competence' to invest effectively, akin to Warren Buffett's approach. As Berkshire Hathaway adjusts its investments, including reducing stakes in companies like Apple and Bank of America, Smead emphasizes that understanding various industries allows investors to navigate beyond Wall Street's mainstream options. By continuously learning and studying different businesses, investors can enhance their competency and make informed investment choices over time.
Source: YAHOO
Reported 21 days ago
U.S. stock markets are facing significant pressure ahead of the presidential election, compounded by anticipation of the Federal Reserve's interest rate decision this week. Meanwhile, new Starbucks CEO Brian Niccol shares his insights on the company's future during an interview with Yahoo Finance, while Nvidia's stock fluctuates following the news of its upcoming inclusion in the Dow Jones Industrial Average.
Source: YAHOO
Reported 21 days ago
US equity funds experienced their largest weekly outflows in over a month, totaling $5.83 billion, amid market volatility and anticipation of the Federal Reserve's interest rate decision. Investors are closely monitoring stocks related to Trump and Harris trades ahead of Election Day. Additionally, Southwest Airlines appointed Rakesh Gangwal as its new board chair.
Source: YAHOO
Reported 21 days ago
Source: YAHOO
Reported 21 days ago
The southern US is set to surpass Canada in softwood lumber capacity for the first time since at least 1970, largely due to increasing US tariffs on Canadian lumber and challenges faced by Canadian producers. With import duties raised by nearly 81% and the potential for further increases, the Canadian lumber sector, particularly in British Columbia, is under severe strain. This shift highlights the impact of trade policies on industry dynamics, positioning the US region as a growing competitor while Canada’s lumber industry struggles to maintain its long-standing dominance.
Source: YAHOO
Reported 21 days ago
Plug Power's stock surged nearly 20% after the Federal Energy Regulatory Commission rejected a proposal to increase power capacity from a nuclear plant to supply energy to an Amazon data center. This development sparked investor interest in Plug Power's potential to contribute to the growing demand for data center energy through its hydrogen production efforts. However, the company is still navigating profitability challenges in the hydrogen market.
Source: YAHOO
Reported 21 days ago
Franklin Resources Inc. saw its shares drop by 7.7% following a report from the Commodity Futures Trading Commission regarding an investigation into Western Asset Management Co. The firm has experienced $53 billion in outflows since it was revealed that Co-Chief Investment Officer Ken Leech is under investigation for potentially favoring certain clients in trading practices. This news came as Franklin reported disappointing earnings, further alarming investors amid ongoing federal inquiries.
Source: YAHOO
Reported 21 days ago
November is a crucial month for stocks due to the intersection of pre-election volatility and seasonal trends, as explained by Yahoo Finance's Jared Blikre. This month marks the beginning of a historically profitable period for equities that lasts until April, influenced by investor sentiments and strategies observed in the market.
Source: YAHOO
Reported 21 days ago
Dock employers in British Columbia initiated a lockout on Monday after a union announced a potential strike, halting trade at Canada's busiest ports. The move affects a variety of freight activities and is expected to disrupt C$800 million in trade daily. This action follows a history of labor disputes in the region, which have previously caused significant economic impacts.
Source: YAHOO
Reported 21 days ago
As the presidential election approaches, many Americans are resorting to 'doom spending'—shopping to cope with anxiety about economic uncertainties. A survey revealed that 27% of respondents engage in this behavior, driven by stress over the election and overall economic concerns. This trend is particularly evident among younger generations, who face mounting debt and financial instability. While this spending may provide temporary relief, it raises concerns about the long-term financial implications for individuals who are already struggling.
Source: YAHOO
Reported 21 days ago
The National Association of Realtors (NAR) reports that the share of first-time homebuyers has dropped to a historic low of 24% of sales, marking the lowest level since tracking began in 1981. Despite this downturn, research VP Jessica Lautz notes that first-time buyers are older, with a median age of 38, and have higher incomes. Looking ahead, there are signs of improvement with lower interest rates and increased housing inventory, potentially encouraging more first-time buyers in the future.
Source: YAHOO
Reported 21 days ago
Source: BARRONS
Reported 21 days ago
In response to a sluggish mortgage market, Rocket Mortgage has launched a new initiative called '24 Takeoff', offering brokers a 24 basis point credit on eligible loans until November 17. This incentive comes as mortgage rates rise above 7% and demand decreases, and aims to enhance partnerships with brokers across various loan types including conventional, VA, and FHA. The company also announced training opportunities for brokers to gain insights from industry veterans.
Source: YAHOO
Reported 21 days ago
As the US presidential election approaches, experts warn that the country's fiscal deficit will remain a significant issue regardless of whether Vice President Kamala Harris or former President Donald Trump wins. Investors are bracing for market volatility and analyzing how each candidate's policies may affect the economy, national debt, and fiscal policy. Roth Capital Partners' chief economist, Michael Darda, provided insights into the implications for the US economy during a recent discussion on Yahoo Finance.
Source: YAHOO
Reported 21 days ago
Constellation Energy saw a 12.5% drop in its stock, alongside significant declines in other nuclear stocks, after regulators rejected a proposal to supply power from Talen Energy to an Amazon AI data center. Despite this setback, Constellation has had a strong year overall, with stock prices increasing over 90%. The Federal Energy Regulatory Commission raised concerns about the deal's impact on grid reliability and public energy costs, highlighting ongoing regulatory challenges for the nuclear industry.
Source: YAHOO