Reported about 1 month ago
The tech stocks known as the Magnificent Seven are now underperforming compared to the rest of the S&P 500, as reported by Charles Schwab and Bloomberg. Monthly performance changes highlight this shift, showcasing their decline in relative strength.
Source: YAHOO
Reported about 1 month ago
Cohesity CEO Sanjay Poonen emphasizes that the software sector is shifting towards digital transformation, with cybersecurity and AI as top priorities. He advocates for improved data recovery methods, stressing that companies should be able to recover data in hours rather than days, while recognizing the resilience of the sector despite recent tech outages.
Source: YAHOO
Reported about 1 month ago
Investors in AI stocks often focus on giants like Nvidia and Microsoft, but Cory Johnson from The Futurum Group suggests considering smaller and mid-cap companies as well. He notes that these smaller firms are achieving comparable results, despite differing market reactions. With growing interest beyond the well-known 'Magnificent Seven,' Johnson highlights the importance of exploring broader opportunities in AI investing.
Source: YAHOO
Reported about 1 month ago
Nvidia has received a subpoena from the U.S. Department of Justice as part of an ongoing antitrust investigation. Bloomberg reports that regulators are scrutinizing the AI chip manufacturer for potentially making it difficult for clients to switch to other suppliers and penalizing those who do not exclusively use Nvidia's AI chips.
Source: YAHOO
Reported about 1 month ago
The U.S. Securities and Exchange Commission (SEC) announced that six credit rating agencies will collectively pay over $49 million due to violations of recordkeeping regulations. Agencies including Moody's, S&P, and Fitch admitted to serious failures in maintaining electronic communications. Moody's and S&P will pay $20 million each, while Fitch will pay $8 million among others. This crackdown is part of ongoing efforts by the SEC to enforce proper records maintenance among firms, particularly regarding the use of messaging apps.
Source: YAHOO
Reported about 1 month ago
As the trading day wraps up on September 4, investors should keep an eye on the upcoming JOLTS data, which is expected to show a decline in job openings to 8.1 million. Other key reports, including US Auto Sales and Mortgage Applications, will also be released. Furthermore, several notable companies, such as Dick's Sporting Goods, Dollar Tree, C3.ai, and Hewlett Packard Enterprise, are set to announce their quarterly earnings.
Source: YAHOO
Reported about 1 month ago
The Federal Reserve is closely watching the upcoming August jobs report, which is expected to influence interest rate cuts in their September meeting. Citi's Chief US Economist Andrew Hollenhorst suggests a potential 50-basis-point cut but emphasizes that the labor market shows signs of weakness, with the unemployment rate having trended upwards for months. The report could provide critical insights for the Fed, as loosening labor conditions and slowing inflation may give them the necessary leverage to adjust rates.
Source: YAHOO
Reported about 1 month ago
Kamala Harris is set to announce a new proposal for a $50,000 tax credit aimed at supporting small businesses, significantly increasing the current tax deduction for startup costs from $5,000 to $50,000. This initiative is part of her broader goal to encourage 25 million new small business applications over the next four years while simplifying the registration process. The announcement comes as Harris positions herself against Donald Trump, appealing to voters concerned about small business growth amid rising economic challenges.
Source: YAHOO
Reported about 1 month ago
Oil prices have sharply declined, erasing all gains from 2024, due to a significant oversupply in the market. Experts like Dan Dicker emphasize that U.S. demand growth is insufficient to balance the increased supply both domestically and globally from OPEC+. This trend is mirrored across various commodities, including copper and lithium, even as stock markets rise.
Source: YAHOO
Reported about 1 month ago
The stock market opened September in a downturn as major indexes dropped significantly, led by losses in technology stocks, particularly Nvidia, which fell nearly 10%. The Dow Jones Industrial Average lost over 600 points, while the Nasdaq Composite sank 3.3%, highlighting investor concerns ahead of a crucial jobs report and the Federal Reserve's potential interest rate cuts.
Source: YAHOO
Reported about 1 month ago
In July, global semiconductor sales rose by 18.7% year-over-year to reach $51.3 billion, as reported by the Semiconductor Industry Association (SIA). This increase highlights a growing demand for AI chips, particularly from major tech companies like Qualcomm and Intel, as discussed by Yahoo Finance's tech editor Dan Howley and the Market Domination team.
Source: YAHOO
Reported about 1 month ago
As September begins, major stock indices face a broad pullback, with investor sentiment weighed down by historical trends of the month. Keith Gangl from Gradient Investments reassures that the current 2% dip shouldn't cause panic, as markets remain up nearly 20% for the year. He attributes the decline to profit-taking and advises investors to reassess their positions, particularly suggesting a shift away from overexposed tech stocks to more diverse opportunities in the market.
Source: YAHOO
Reported about 1 month ago
On the first trading day of September, US stocks experienced significant declines, with the Dow dropping 600 points (approximately 1.5%), the S&P 500 declining by 2.1%, and the Nasdaq Composite falling nearly 3.3%. This downturn was noted to align with historical trends indicating September as a challenging month for equities, particularly impacting chip stocks such as Nvidia and Broadcom.
Source: YAHOO
Reported about 1 month ago
September has historically been the worst month for stock performance, averaging a negative return over the past 98 years. Despite this trend, the S&P 500 has seen more positive returns than negative in September over the last century, particularly in presidential election years. While factors like increased selling volume and bond offerings have been suggested as reasons for September's underperformance, many of these explanations lack solid evidence. Investors may want to reconsider selling in this month, as historical data shows that stocks have often risen more than they’ve fallen during this time.
Source: YAHOO
Reported about 1 month ago
Alphabet's stock is declining after Morgan Stanley lowered its price target from $205 to $190, attributing this decision to ongoing legal challenges with the US Department of Justice regarding antitrust allegations. Analyst Brian Nowak indicated that these issues may take years to resolve, which could negatively affect the company's long-term prospects.
Source: YAHOO
Reported about 1 month ago
CleanSpark's shares have fallen after the company reported mining 478 bitcoins in August, a decrease from 494 in July. In addition, the company plans to double its authorized shares for issuance. Market experts, Julie Hyman and Josh Lipton, discuss the implications of these developments in a recent episode.
Source: YAHOO
Reported about 1 month ago
Polestar, the electric vehicle manufacturer, has announced the appointment of Jean-Francois Mady as its new Chief Financial Officer, effective October 21. Mady, who previously worked as the senior vice president of global accounting operations and finance transformation at Stellantis, is expected to strengthen Polestar's financial strategy as the company's shares saw a significant increase following the announcement.
Source: YAHOO
Reported about 1 month ago
Constellation Brands, known for its popular beer brands and spirits, has reduced its 2025 earnings forecast to between $3.05 and $7.92 per share from an earlier estimate of $14.63 to $14.93. The company will incur a $1.5 billion to $2.5 billion charge due to struggles in its wine and spirits division, although it did raise the lower end of its earnings per share forecast.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs has lowered its price target for copper while encouraging investors to focus on gold, highlighting recent positive price movements and increased ETF inflows as central banks increase their gold purchases.
Source: YAHOO
Reported about 1 month ago
U.S. gasoline futures have dropped nearly 6% to their lowest point since December 2021, influenced by the end of the summer driving season and a broader decline in oil prices. With October gasoline futures settling at $1.98 per gallon, analysts predict further decreases could bring retail gasoline prices to levels not seen since 2021. This sharp decline is attributed to weak demand and high inventory levels, as well as falling crude oil prices, which settled at $70.34 per barrel.
Source: YAHOO
Reported about 1 month ago
The stock market had a rough start to September, with the Dow Jones Industrial Average losing over 600 points, reflecting a 1.5% decline. The S&P 500 and Nasdaq Composite fell 2.1% and 3.3%, respectively, led by a significant drop in Nvidia shares following a disappointing earnings report. Investors are concerned about a volatile month ahead, amid anticipation of crucial economic data, including the upcoming jobs report, which could impact Federal Reserve interest rate decisions.
Source: YAHOO
Reported about 1 month ago
A massive hotel strike in the U.S. has expanded with approximately 200 hotel workers in Baltimore joining the movement against major chains Hilton, Hyatt, and Marriott. The strike, involving around 10,200 workers across 25 hotels from Boston to Hawaii, is driven by demands for higher wages, better working conditions, and the restoration of services cut during the pandemic. Union leaders argue that while the hotel industry is recovering post-COVID and making record profits, workers must still endure financial struggles.
Source: YAHOO
Reported about 1 month ago
Analyst Stacy Rasgon from Bernstein maintains an Outperform rating on Broadcom (AVGO), emphasizing its strong position in the AI sector while acknowledging the challenges faced by its core business. With a major earnings report anticipated, Rasgon believes Broadcom's software segment, VMWare, could drive future growth, and highlights that the company's stock is currently undervalued compared to the broader semiconductor market.
Source: YAHOO
Reported about 1 month ago
Warren Buffett has reduced Berkshire Hathaway's stakes in Apple and Bank of America, yet remains the largest shareholder in Bank of America. Despite these reductions, he is still expected to hold approximately $100 billion in Apple stock, reinforcing that, while significant, these changes should not overly concern investors, according to Portfolio Wealth Advisors' Lee Munson.
Source: YAHOO
Reported about 1 month ago
A historic influx of blue-chip companies is tapping into the US corporate bond market, with 29 firms, including Ford and Barclays, seizing the opportunity to issue debt before the upcoming presidential election. Anticipating lower interest rates, they aim to borrow approximately $125 billion in September, driven by decreased borrowing costs and strong investor demand. This surge marks the busiest sales day in bond market history.
Source: YAHOO