Reported about 1 month ago
Reports indicate that two Trump allies, Marjorie Taylor Greene and Rob Bresnahan, purchased Tesla shares in May just before tensions escalated between President Trump and Elon Musk, resulting in a decline in Tesla's stock price. Both lawmakers attribute the trades to their financial advisers, claiming they were unaware of the transactions until disclosed. Greene and Bresnahan have traded Tesla stock multiple times this year amidst ongoing discussions about the ethics of congressional stock trading.
Source: YAHOO
Reported about 1 month ago
US stocks edged closer to their historic highs as Wall Street closely monitors the outcome of ongoing US-China trade negotiations. The S&P 500 increased by 0.5%, buoyed by positive sentiments from discussions aimed at resolving trade tariffs that have caused economic uncertainties. Despite some companies like Designer Brands facing negative impacts on forecasts due to trade-related concerns, others, such as Tesla, saw gains, indicating mixed market reactions amid an atmosphere of cautious optimism.
Source: YAHOO
Reported about 1 month ago
Moody's Ratings has issued a warning about the potential liquidity and asset quality risks arising from the influx of retail investors into the private credit sector. This shift, driven by asset managers creating funds to attract 'Main Street' investors, raises concerns over transparency and underwriting standards as the demand for high-quality assets grows amid a tight supply. Furthermore, the evolving regulatory landscape could exacerbate these vulnerabilities, particularly if rapid capital deployment leads to mismatches between liquidity and investor expectations.
Source: YAHOO
Reported about 1 month ago
US stocks saw a modest increase as optimism grew from ongoing US-China trade talks, with the S&P 500 and Nasdaq nearing their all-time highs. The Dow closed up approximately 0.2%, the S&P 500 rose about 0.5%, and the Nasdaq climbed around 0.6%. Investors remain cautious as they monitor trade developments, especially regarding US access to China's rare earth minerals, amid various contentious issues. Additionally, the market awaits the upcoming Consumer Price Index report for further insight into inflation.
Source: YAHOO
Reported about 1 month ago
Tesla's stock has experienced a significant increase as the company is officially recognized as an autonomous vehicle operator in Austin, Texas, just ahead of its robotaxi service launch set for June 12. Following three consecutive days of stock gains, the positive momentum is also attributed to a cooling feud between CEO Elon Musk and former President Trump, who recently made conciliatory remarks regarding Musk.
Source: YAHOO
Reported about 1 month ago
The Consumer Price Index (CPI) report for May is anticipated to show a slight increase in inflation, with predictions of rising prices driven by ongoing tariff impacts. Forecasts suggest a rise in headline inflation from 2.3% in April to 2.4% in May, while core inflation, excluding food and energy, is expected to edge up from 2.8% to 2.9%. This report reflects the ongoing effects of President Trump's tariffs, with significant rates still applied to Chinese goods and certain industries. Analysts are cautiously monitoring these developments, as tariffs may continue to influence consumer prices in the coming months.
Source: YAHOO
Reported about 1 month ago
Kevin Mahn, CIO of Hennion & Walsh, highlights RTX Corporation's (formerly Raytheon) strong position in the defense sector, particularly in missile defense systems. With the U.S. defense budget potentially reaching $1 trillion, Mahn believes RTX will capture a significant portion of these funds due to its competitive advantages. In contrast, he advises against investing in Vertical Aerospace (EVTL), citing its lack of defense approval and poor financial performance.
Source: YAHOO
Reported about 1 month ago
Chinese imports into the US are declining significantly, but goods from China are still reaching American stores by passing through other Southeast Asian nations like Vietnam, Thailand, and Indonesia. While this trend is beneficial for shoppers due to lower prices, it highlights potential loopholes in President Trump’s tariff strategy, which imposes high taxes on Chinese goods but much lower rates on imports from other countries. This shift is reminiscent of previous trade patterns during Trump's first term, prompting concerns that the administration may respond with increased tariffs on these transshipment nations.
Source: YAHOO
Reported about 1 month ago
The ongoing debate in Congress regarding the Trump administration's 'big beautiful bill' raises questions about its implications for retirement finances, particularly in areas such as tax deductions for seniors and the future of Social Security. In the latest episode of 'Decoding Retirement,' host Robert Powell and wealth expert Lisa Featherngill discuss potential outcomes from the bill, including new deductions and retirement strategies amidst uncertainty about Social Security's solvency and spending adjustments retirees may need to consider.
Source: YAHOO
Reported about 1 month ago
As student loan payments resume, Americans need to prioritize effective strategies to manage their debt. Jan Miller, president of Miller Student Loan Consulting, outlines various repayment options, including income-based plans, standard payments, and potential forgiveness programs, tailored to different borrower scenarios, such as those with federal or private loans. Understanding personal financial situations and available resources is crucial for making informed decisions about repayment.
Source: YAHOO
Reported about 1 month ago
U.S. Treasury Secretary Scott Bessent has reportedly emerged as a contender to succeed Federal Reserve Chair Jerome Powell, according to Bloomberg News. However, the White House has denied these claims. Bessent, who is overseeing Trump's trade policy and regulatory reforms, joins other candidates such as former Fed official Kevin Warsh. Formal interviews for Powell's successor have not yet begun.
Source: YAHOO
Reported about 1 month ago
Treasury Secretary Scott Bessent is emerging as a leading candidate to succeed Jerome Powell as chair of the Federal Reserve, amid discussions among advisors in the Trump administration. President Trump has indicated he will select a replacement soon, with Bessent's involvement in key economic initiatives enhancing his candidacy. While other candidates like Kevin Warsh are also considered, Bessent's recognized competence in managing economic policies positions him as a formidable contender, despite uncertainties about his recusal from the selection process.
Source: YAHOO
Reported about 1 month ago
JPMorgan has updated its projections for municipal bond sales in 2025 to $560 billion as discussions around President Trump's tax and spending bill continue in the Senate. Analysts, including Sylvia Yeh from Goldman Sachs, discuss the potential implications for municipal bond investors and the appeal of investing in municipal bonds, given attractive yield environments and strong credit fundamentals, despite residual risks related to other policies.
Source: YAHOO
Reported about 1 month ago
Shell's decision to advance to Phase 2 of LNG Canada will hinge on the availability of other opportunities, according to President Stastia West. LNG Canada, the nation's first LNG export facility, is a collaboration among Shell, Petronas, PetroChina, Mitsubishi Corporation, and Kogas, with its first shipments anticipated by mid-2025.
Source: YAHOO
Reported about 1 month ago
Walgreens and entrepreneur Kourtney Kardashian are among those evaluating Rite Aid's assets following the pharmacy chain's recent bankruptcy filing. Brand management companies like Authentic Brands, WHP Global, and Marquee Brands are also interested in Rite Aid's intellectual property and loyalty programs. Kardashian has shown particular interest in Rite Aid's Thrifty ice cream brand, which has a notable history. The deadline for bids on remaining assets is set for June 18.
Source: YAHOO
Reported about 1 month ago
The Bank of Mexico is anticipated to implement a 50 basis points interest rate cut this month, even as inflation has risen above its target, reaching 4.42%. Analysts remain divided, with some cautioning against further cuts given the potential risks posed by inflation. Despite a slowing economy and a recent downgrade in GDP growth forecasts, economists believe the bank continues to view current monetary restrictions as excessive relative to inflation rates.
Source: YAHOO
Reported about 1 month ago
Shares of Designer Brands, the parent company of DSW, fell over 20% after reporting disappointing first-quarter earnings and withdrawing its fiscal outlook for 2025 due to macroeconomic uncertainty and declining consumer sentiment. The company's adjusted loss was significantly worse than expected, and net sales declined by 8% year-over-year. CEO Doug Howe noted the need to focus on preserving margins and controlling costs amid this volatility.
Source: YAHOO
Reported about 1 month ago
OpenAI has entered a deal with Google Cloud to enhance its computing capacity for training AI models like ChatGPT, despite ongoing competition with Google's Gemini model. This collaboration marks a shift from OpenAI's previous reliance on Microsoft for computing resources, as Google aims to address rising cloud demand while still supporting its rival in the AI industry.
Source: YAHOO
Reported about 1 month ago
Italian bank UniCredit is set to gain EU antitrust approval for its acquisition of Banco BPM by agreeing to sell 206 branches, mainly in northern Italy, to address competition concerns. The European Commission is reviewing the bid and will make a decision by June 19, with additional conditions imposed by the Italian government regarding loan-to-deposit ratios and securities holdings.
Source: YAHOO
Reported about 1 month ago
Morgan Stanley is seeking investors for a $5 billion debt offering for Elon Musk's xAI Corp. due to decreased demand stemming from Musk's public feud with Donald Trump. Despite initial high interest, the demand hasn't exceeded $5 billion, prompting Morgan Stanley to approach smaller lenders. Musk's recent merger of xAI with his platform X has reignited enthusiasm, yet investor caution is growing as Trump's threats to terminate contracts with Musk’s firms linger.
Source: YAHOO
Reported about 1 month ago
Amazon's stock has broken out amid positive developments, including tariff relief and a strong push in cloud AI technology, signaling strong market performance.
Source: INVESTORS
Reported about 1 month ago
Starbucks has announced a price reduction averaging 5 yuan ($0.70) for its tea-based drinks in China, its second-largest market. The initiative aims to attract customers amidst fierce competition and a challenging consumer environment. The price cut, which will lower the cost of frappuccinos, iced teas, and tea lattes, aligns with growing demand for non-coffee options, especially in the summer. This strategic shift reflects the company's response to local competitors and China's ongoing deflation in consumer prices.
Source: YAHOO
Reported about 1 month ago
J.M. Smucker's stock price fell 12.7% following a disappointing earnings report that revealed a sales miss despite beating earnings expectations. The company reported a net loss of $6.85 per share while forecasting weak fiscal 2026 earnings but an anticipated return to sales growth. Analysts caution that J.M. Smucker is not among the best investment options currently.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO