Reported about 1 month ago
China is experiencing a deepening deflationary crisis that could jeopardize its economic recovery. Recent data indicates minimal consumer price growth outside food costs, with wages declining and corporate revenues suffering. Experts warn that this could lead households to cut spending further and delay purchases, exacerbating the economic downturn. Calls for immediate policy changes to combat deflation are growing among economists and former officials, highlighting the urgent need for effective measures to stimulate consumer confidence and spending.
Source: YAHOO
Reported about 1 month ago
Apple's iPhone 16 introduces a noticeable change with a new Camera Control button, positioned on the lower right side of the device. This button enables users to quickly launch the camera, mimicking the functionality of DSLR shutter buttons, although some functionalities may require a learning curve. Other subtle improvements include larger screens for Pro models and enhanced AI capabilities, while maintaining consistent pricing this year.
Source: YAHOO
Reported about 1 month ago
Insigneo's chief investment officer, Ahmed Riesgo, believes US equities are already at their peak for the year and has adopted an underweight position on them. He cites ongoing worries in the labor market and predicts a potential recession, though not severe, indicating that a Federal Reserve rate cut may not lead to a market rally as many expect.
Source: YAHOO
Reported about 1 month ago
As Apple introduces the iPhone 16, Julie Hyman analyzes the potential impact on Apple's revenue by comparing the last decade's iPhone earnings with the company's overall financial performance. The discussion highlights what new iPhone sales could contribute amidst the ongoing upgrade cycle.
Source: YAHOO
Reported about 1 month ago
Palantir has expanded its partnership with BP, allowing the latter to utilize Palantir's AI technology to enhance decision-making across its intricate operations. The collaboration aims to improve the performance of BP's operations by providing an integrated view that connects various disciplines and runs simulations based on specific queries, positioning Palantir as a competitive force in the energy sector.
Source: YAHOO
Reported about 1 month ago
U.S. stocks experienced a broad recovery following last week's market volatility and technology sell-offs, with gains observed across various sectors. Yahoo Finance markets reporter Josh Schafer analyzed the positive shifts in trading as investors shift focus away from AI-related influences.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs CEO David Solomon remains optimistic about the firm's performance in 2024 compared to the previous year but warned that the third quarter may face challenges. He highlighted potential pre-tax earnings losses of $400 million due to issues in the consumer business and a projected 10% drop in trading revenue, attributed to market volatility in August. Although investment banking is showing improvement, Solomon noted that several divisions may not match their earlier success, raising concerns for the upcoming quarter.
Source: YAHOO
Reported about 1 month ago
In a recent interview with Yahoo Finance, AMD CEO Lisa Su highlighted the rapid growth and potential of the AI chip market, projecting it to reach $400 billion by 2027. She emphasized AMD's commitment to staying ahead in the competitive landscape by introducing new products annually, starting with the upcoming MI325, and continuing through the MI350 and MI400 series in subsequent years. Su also noted the need for geographic diversity in the U.S. chip sector, as investments climb to enhance AI chip infrastructure.
Source: YAHOO
Reported about 1 month ago
Despite a steep decline in Nvidia's stock, which caused a loss of approximately $400 billion in market value, Goldman Sachs analyst Toshiya Hari maintains a Buy rating on the company, suggesting the recent sell-off is overdone. He pointed out strong demand for accelerated computing and AI, emphasizing the potential for significant growth in the sector by 2025. Investor skepticism remains regarding Nvidia's earnings sustainability, but Goldman believes the company's competitive position and innovation pace will ensure long-term success.
Source: YAHOO
Reported about 1 month ago
At the Goldman Sachs 2024 Communication and Technology Conference, analyst Kash Rangan identified three critical elements impacting software companies: interest rates, the upcoming election, and the role of generative AI. He anticipates a likely Federal Reserve rate cut of 25 basis points, which will ease capital costs for businesses. Rangan emphasizes that post-election, reduced uncertainty will enable companies to advance stalled projects, and he remains optimistic about the long-term potential of generative AI despite current limitations.
Source: YAHOO
Reported about 1 month ago
Disney and DirecTV are embroiled in a contract dispute that has led to the removal of ESPN and other Disney channels from DirecTV's offerings, impacting millions of viewers ahead of the NFL's Monday Night Football. DirecTV seeks a reduced channel package, but Disney is holding firm, reflecting an evolving landscape in the pay TV industry where content providers are asserting more control amid declining linear TV subscriptions. As negotiations continue, DirecTV is attempting to retain subscribers with credits and has filed a complaint with the FCC, signifying a crucial moment for both companies.
Source: YAHOO
Reported about 1 month ago
Oracle reported better-than-expected quarterly results, driven by a 21% increase in cloud services revenue, reaching $5.6 billion. The company forecasts a revenue growth of 8% to 10% for the next quarter, exceeding analysts’ expectations. Oracle's investments in cloud computing are yielding promising results, including partnerships with AWS and Google Cloud, helping it narrow the gap with competitors like Microsoft.
Source: YAHOO
Reported about 1 month ago
Alan Shaw, the CEO of Norfolk Southern, is expected to resign due to an investigation into allegations of misconduct, as reported by the Wall Street Journal. This follows previous controversies during his tenure, including the Ohio train derailment and a boardroom conflict. The investigation centers around an inappropriate workplace relationship. Shares of Norfolk Southern saw a 2.7% increase in aftermarket trading.
Source: YAHOO
Reported about 1 month ago
Chicago has announced a hiring freeze and restrictions on non-essential expenses to tackle an estimated budget shortfall exceeding $1 billion through 2025. The city's budget director indicated a projected deficit of $222.9 million for this year and $982.4 million for the next, highlighting the city's commitment to responsible fiscal management amid financial challenges. Mayor Brandon Johnson, who is preparing his second spending plan, is aiming to balance the budget while maintaining essential services.
Source: YAHOO
Reported about 1 month ago
U.S. stocks bounced back on Monday following the S&P 500's worst week since early 2023, as investors focused on expected interest rate cuts by the Federal Reserve. The S&P 500 rose nearly 1.2%, the Dow Jones gained over 450 points, and the Nasdaq saw an increase of more than 1%. Key sectors leading the recovery included financials, industrials, and energy, with significant gains from companies like Nvidia, Tesla, and Amazon. Attention now shifts to upcoming inflation data that could impact the Fed's policy decisions.
Source: YAHOO
Reported about 1 month ago
At the recent product event, Creative Strategies CEO Ben Bajarin stated that the iPhone 16 is likely to trigger an upgrade cycle due to its appeal among existing customers with older models. He emphasizes that the new device is potentially the best base iPhone ever made and highlights the addition of the Visual Intelligence feature, which will enhance user experience by providing information about photographed objects.
Source: YAHOO
Reported about 1 month ago
JetBlue Airways (JBLU) received a Neutral rating from BofA Securities due to signs of stabilizing air travel demand, leading to a significant increase in its stock value on Monday. Analysts Julie Hyman and Josh Lipton discussed these developments in their report.
Source: YAHOO
Reported about 1 month ago
American consumers are being more selective with their spending, prioritizing value due to economic pressures. According to experts, middle-income shoppers are hesitant about significant purchases and are seeking bargains in everyday items, benefiting retailers like Walmart and Target that offer discounted prices. However, dollar stores such as Dollar General are facing challenges as their target demographic struggles financially, leading to disappointing sales results. This cautious spending behavior indicates a shift in consumer habits influenced by economic conditions.
Source: YAHOO
Reported about 1 month ago
Despite rising tensions between Iran and Israel and the threats of retaliation, oil prices have surprisingly remained low, with West Texas crude falling to around $68 per barrel. The Biden administration's military show of force and efforts to contain regional hostilities appear to have contributed to this stability, providing some relief to American consumers as gasoline prices decrease. Analysts suggest that unless a significant escalation occurs in the Middle East, markets may continue to experience a relatively calm energy landscape.
Source: YAHOO
Reported about 1 month ago
A recent survey by EY reveals a significant decrease in interest among US consumers for electric vehicles (EVs), with only 34% planning to purchase an electrified vehicle as their next car, down from 48% in 2023. The interest in fully electric vehicles has dropped even more sharply, from 22% to just 11%. Key factors affecting this trend include a lack of consumer education regarding EV maintenance costs compared to traditional cars and rising concerns about the overall costs associated with EVs. Despite some improvements in charging infrastructure perceptions, the growing popularity of hybrids could also be contributing to the decline in pure EV sales.
Source: YAHOO
Reported about 1 month ago
Apple announced its iPhone 16 lineup featuring AI enhancements, with prices starting at $799 and options for 6.1 and 6.7 inches. The new devices sport A18 chips with a 16-core neural engine and a customizable action button. Additionally, the launch included the Series 10 Apple Watch starting at $399, featuring advanced health monitoring and a new S10 chip, and AirPods 4 starting at $129, which offer improved audio and interactive capabilities with Siri.
Source: YAHOO
Reported about 1 month ago
Morgan Stanley has again revised its oil price forecast, predicting that Brent crude will average $75 per barrel in Q4 2024 due to significant demand weakness and ongoing price declines. The firm noted that current market conditions are reminiscent of recession-like trends, prompting adjustments along with similar moves from other financial institutions influenced by decreased demand from China. This shift has contributed to a fall in US gasoline prices as well.
Source: YAHOO
Reported about 1 month ago
Apple has officially launched its iPhone 16 series at the 'Glowtime' event, featuring four models including the standard iPhone 16, iPhone 16 Plus, and the premium iPhone 16 Pro and Pro Max. The new lineup is powered by the A18 chip, optimized for Apple's AI features, enhancing performance and introducing innovative camera controls. With improved display sizes and advanced computational photography capabilities, the iPhone 16 series aims to cater to users' demands while the anticipated Apple Intelligence software is set to roll out soon.
Source: YAHOO
Reported about 1 month ago
Shares of Trump Media & Technology Group increased by nearly 5% after a poll indicated a close contest between Donald Trump and Vice President Kamala Harris for the White House. This rise comes after a significant drop in stock value, with Trump's shares now worth over $2 billion as he prepares to potentially sell them later this month.
Source: YAHOO
Reported about 1 month ago
The average cost of undergraduate tuition exceeds $25,000 annually. Winnie Sun, managing director at Sun Group Wealth Partners, shares essential tips for students to manage these expenses effectively. Key strategies include forming a supportive 'money tribe' for accountability, setting budgets and savings goals, monitoring credit card usage, cutting housing and meal expenses through campus jobs, and seeking part-time employment to gain experience while earning extra income. These practices can help students minimize costs and prepare for future employment.
Source: YAHOO