Reported about 1 month ago
Hungarian Prime Minister Viktor Orban is preparing to abandon his budget consolidation plans to boost spending ahead of what is expected to be a challenging election in 2026. This decision follows a history of increased expenditures, which in the past led to significant economic issues, including inflation and recession. Orban's government aims to execute a spending strategy over the next 18 months, despite Hungary's current stretched budget and concerns from both the public and financial institutions regarding fiscal sustainability.
Source: YAHOO
Reported about 1 month ago
Brazilian Justice Nunes Marques has requested the full Supreme Court to examine a case from the political party Partido Novo, which is challenging the suspension of the social media platform X. This decision was reported in a document released on Thursday.
Source: YAHOO
Reported about 1 month ago
The ADP reported a significant miss in August jobs growth, with only 99,000 private payroll jobs added, falling short of the projected 145,000. As the Bureau of Labor Statistics prepares to unveil its non-farm payroll report, experts discuss the implications of this data for job seekers facing slower wage growth and its potential impact on the Federal Reserve's interest rate strategies.
Source: YAHOO
Reported about 1 month ago
As Nike faces increasing scrutiny over labor conditions in its supply chain, Norway's sovereign wealth fund is backing a resolution for the company to improve working conditions in garment factories ahead of its annual shareholder meeting. The resolution reflects investor concerns about Nike's treatment of garment workers, particularly following reports of wage theft and insufficient health and safety measures. Despite prior engagements from investors, Nike's silence on these serious issues has raised alarms among stakeholders who are advocating for binding agreements with workers in regions notorious for exploitation.
Source: YAHOO
Reported about 1 month ago
Bitcoin is navigating a bullish macro landscape with increasing institutional investments, but its price remains flat amid broader market trends. Analysts warn that if the S&P 500 fails to maintain its bullish momentum, Bitcoin could experience a significant downturn. The upcoming Federal Open Market Committee meeting may influence market direction, creating potential volatility for traders. As retail investor participation dwindles, savvy institutions could manipulate the market dynamics, trapping traders in both bullish and bearish positions. Investors should monitor key support levels, particularly at $50k and $42k, as the future remains uncertain.
Source: YAHOO
Reported about 1 month ago
Colombia is facing significant food and fuel shortages due to ongoing protests by truckers that have resulted in road blockades for four consecutive days. With the capital’s fuel supply dwindling rapidly and food supplies down by 23%, industries reliant on transport are severely impacted, causing food prices to rise. The government is grappling with the economic fallout stemming from recent diesel price increases and is urging the truckers to accept a gradual rise instead of immediate steep hikes.
Source: YAHOO
Reported about 1 month ago
The NFL's media landscape is evolving as it embraces both traditional and digital platforms for broadcasting games. With significant partnerships emerging, such as Amazon Prime for Thursday Night Football and deals with Netflix and Peacock, the league is positioning itself to reach a wider audience while navigating the decline of cable TV. The shift towards streaming reflects consumer preferences, as the NFL continues to prioritize accessibility for fans, resulting in a mix of games available through various outlets. This strategy aims to engage younger audiences and ensure the NFL remains a dominant force in sports media.
Source: YAHOO
Reported about 1 month ago
The ISM Services PMI report for August indicates modest expansion in the services sector, with a score of 51.5, slightly up from July's 51.4. This figure aligns with Wall Street's expectations. While the employment index saw a decline, there was an increase in new orders, suggesting mixed trends in the sector.
Source: YAHOO
Reported about 1 month ago
In August, the US services sector maintained stability with a small increase in the purchasing managers index (PMI) to 51.5, indicating continued growth. However, employment gains decelerated, highlighting a cooling labor market as the unemployment rate rose to 4.3%—the highest in nearly three years. Despite concerns of a potential recession, the economy shows moderate expansion, supported by solid consumer spending. The ISM reported an uptick in new orders, but a decline in services employment points to a slowdown. Economists predict job growth may rebound in August.
Source: YAHOO
Reported about 1 month ago
Russian President Vladimir Putin announced that Russia is ready to continue supplying gas to Europe via Ukraine beyond 2024, despite Ukraine's President Volodymyr Zelenskiy's reluctance to extend the transit contract. Putin emphasized that Russia could redirect these gas volumes to other markets if needed, particularly to Turkey and Asia, while acknowledging potential revenue losses for Gazprom. He also mentioned the operational potential of the Nord Stream 2 pipeline, asserting that Gazprom will increase exports to China and expand its presence in the global liquefied natural gas market despite facing tough US sanctions.
Source: YAHOO
Reported about 1 month ago
OPEC+ has decided to postpone its planned increase in oil production originally set for October and November, following a significant drop in crude oil prices to their lowest levels in nine months, as reported by sources within the producers group.
Source: YAHOO
Reported about 1 month ago
In Turkey, the recent underperformance of newly listed stocks compared to the broader market for the first time in six years has raised concerns about investor demand for initial public offerings (IPOs). The IPO index has only gained 12% this year, which pales in comparison to the 33% increase in the benchmark index. Tighter monetary policies have shifted investor interest back to established stocks and safe deposit accounts, leading to a decline in enthusiasm for IPOs.
Source: YAHOO
Reported about 1 month ago
The US services sector continued to expand at a modest pace for a second consecutive month in August, with the Institute for Supply Management reporting a slight decrease in its services index to 51.5. Despite showing growth, employment figures stagnated, and a significant drop in order backlogs raises concerns over potential adjustments in staffing. Various sectors reported mixed performance, with some like entertainment and transportation seeing growth, while retail and construction sectors struggled due to high costs and declining demand.
Source: YAHOO
Reported about 1 month ago
Economist Daniel Zhao shares insights on the current labor market, indicating a cooling trend and subtle declines in private-sector job openings. With mixed data leading into the crucial jobs report, Zhao notes the Federal Reserve's margin for achieving a soft landing is narrow. He anticipates a 25-basis-point interest rate cut in September, contingent on the jobs report's performance, warning that significant weakness could prompt a more drastic cut.
Source: YAHOO
Reported about 1 month ago
Ford's sales in August surged by 13% compared to the previous year, with a total of 182,985 vehicles sold in the U.S. This increase was fueled by strong truck and hybrid sales, with Ford capturing a 12.6% market share, making it the top-selling brand for the second consecutive month. Notably, Ford's hybrid sales soared by 50% and electric vehicle sales rose by 29%, while its luxury division, Lincoln, also experienced a significant rebound.
Source: YAHOO
Reported about 1 month ago
Nvidia has become an investor in Applied Digital's recent funding round, which raised $160 million. The company, focused on data center operations, plans to offer computing services specifically designed for AI applications.
Source: YAHOO
Reported about 1 month ago
On Thursday, US stocks experienced volatility as investors reacted to disappointing labor market data, with the S&P 500 declining by 0.3% and the Dow Jones dropping over 200 points. The Nasdaq showed a slight gain of 0.2%. Recent data indicated the smallest hiring growth in the private sector since January 2021, prompting speculation regarding potential interest rate cuts by the Federal Reserve. Anticipation surrounds Friday's jobs report, which may impact economic outlooks and policy decisions.
Source: YAHOO
Reported about 1 month ago
Wolfe Research has downgraded General Motors (GM) stock from Outperform to Peer Perform due to concerns regarding the automaker's outlook for 2025. Analysts emphasize that uncertainties surrounding GM's performance were key factors in this decision.
Source: YAHOO
Reported about 1 month ago
Nvidia has denied reports from Bloomberg suggesting that the company received a subpoena from the U.S. Department of Justice related to antitrust issues. In a statement, Nvidia confirmed that they checked with the DOJ and have not been subpoenaed.
Source: YAHOO
Reported about 1 month ago
Investors received conflicting signals about the labor market, with the ADP National Employment Report indicating only 99,000 private sector jobs added in August, far below the expected 145,000 and marking the lowest increase since 2021. Conversely, initial jobless claims were slightly better than expected at 227,000, down from the forecast of 230,000. The data could influence the Federal Reserve's decision regarding interest rate cuts in its upcoming meeting.
Source: YAHOO
Reported about 1 month ago
Verizon Communications has unveiled plans to acquire Frontier Communications in a substantial all-cash deal worth $20 billion. This strategic move aims to significantly broaden Verizon's network coverage across various regions of the United States, particularly in areas where it has limited access.
Source: YAHOO
Reported about 1 month ago
Stocks opened mixed on Thursday as investors reacted to the latest ADP labor data and awaited the upcoming jobs report. Major indices are trying to recover from a turbulent September, with market movements also influenced by commodity pricing, including gold and tech stocks.
Source: YAHOO
Reported about 1 month ago
Tesla shares saw over a 6% increase as the company confirmed its intention to launch Full Self-Driving (FSD) technology in China and Europe, pending regulatory approval. CEO Elon Musk suggested that regulatory clearance for FSD could come by year-end, hinting at a possible rollout of the technology in right-hand drive markets by early 2025. While Wall Street remains cautious about self-driving technologies, investor optimism persists, especially after collaborations with Chinese firms for navigation systems.
Source: YAHOO
Reported about 1 month ago
As skepticism around the AI trade grows, investors are turning their attention to Broadcom's upcoming earnings report for insights on the sector's stability. Following a disappointing performance from Nvidia, Broadcom, a key AI chip supplier, is expected to report a significant increase in AI revenue, potentially calming market fears. Analysts predict strong growth in Broadcom's AI-related sales, making it a favored pick among investors looking for a steady bet in the fluctuating tech landscape.
Source: YAHOO
Reported about 1 month ago
Tesla plans to introduce its Full Self-Driving (FSD) technology in China and Europe in the first quarter of 2025, pending regulatory approval. The announcement has positively impacted the company's stock performance, which has seen a slight increase in pre-market trading.
Source: YAHOO