Reported 28 days ago
Agriculture giants Cargill and Bunge are slowing their soybean purchases due to uncertainty surrounding US biofuels policy, particularly a new clean-fuel tax credit set to begin in January. This uncertainty is causing biofuels producers to hold off on soyoil purchases, impacting demand for soybeans. With the upcoming presidential elections and the unclear future of the 45Z credit, the industry faces a challenging environment. As a result, soybean supplies are being increasingly diverted to food export markets instead of renewable fuel production.
Source: YAHOO
Reported 28 days ago
In an enlightening discussion, Yahoo Finance's Brian Sozzi interviews Michael and Adam Dell, who share their unique perspectives on the future of artificial intelligence. Michael Dell, the founder of Dell Technologies, provides insights from his experience in technology infrastructure, while Adam Dell, CEO of Domain Money, discusses the role of modern technology in financial advising. The brothers' conversations highlight their innovative visions and aspirations for AI's impact on various sectors.
Source: YAHOO
Reported 28 days ago
Donald Trump's social media company, Trump Media & Technology Group, has seen its stock rally by 324% over the past five weeks, adding over $7.9 billion in value, as predictions of his potential victory in the upcoming election gather momentum. The surge has been fueled by increased trading activity, despite the company’s lackluster business performance and a close national polling race between Trump and Kamala Harris. Retail traders' speculative bets on Trump's chances are blurring the lines between gambling and trading, reflecting in other companies associated with Trump's brand.
Source: YAHOO
Reported 28 days ago
As Wall Street gears up for a packed earnings season, attention is drawn to Alphabet and AMD as they release their third-quarter reports today. Other notable companies reporting include Snap, Reddit, Visa, Chipotle, and Electronic Arts. Yahoo Finance will feature insights from several industry leaders throughout the day.
Source: YAHOO
Reported 28 days ago
A Pentagon watchdog report claims Boeing overcharged the U.S. Air Force for spare parts, including a staggering 7,943% markup on soap dispensers for C-17 transport planes, resulting in nearly $1 million in overpayments. The Inspector General urged the Air Force to enhance internal controls to prevent future overpayment issues, while Boeing defended its pricing, stating the parts were modified to meet military standards.
Source: YAHOO
Reported 28 days ago
Broadcom Inc. shares surged nearly 4% after reports emerged that OpenAI is collaborating with the company to develop a new artificial intelligence chip, utilizing Broadcom and Taiwan Semiconductor Manufacturing Co. for production. OpenAI is shifting away from plans to create its own factories due to high costs and time, instead opting to enhance its processing capabilities through partnerships as demand for AI computing power explodes.
Source: YAHOO
Reported 28 days ago
A financial first aid kit is a crucial resource designed to prepare individuals for emergencies involving their finances. Winnie Sun, managing director of Sun Group Wealth Partners, highlights its importance on Yahoo Finance, emphasizing that the kit should include necessary documents such as tax filing papers, a living trust, and contact information for financial advisors. Inspired by a personal experience during a family medical emergency, Sun encourages everyone to organize important financial information in one accessible location, ensuring loved ones can effectively manage finances during a crisis.
Source: YAHOO
Reported 28 days ago
Investors are keen to buy municipal bonds before a projected drop in supply due to upcoming elections, with JPMorgan and Baird highlighting this strategy. They anticipate tax-exempt issuance will decrease significantly, presenting a potential opportunity to invest before yields possibly fall by the end of 2024. While some firms express caution, others are actively participating in the market, as indicated by increased inflows into municipal ETFs.
Source: YAHOO
Reported 28 days ago
The cryptocurrency market is currently experiencing volatility due to election uncertainty, with discussions surrounding Bitcoin's potential rise past $70,000. In a recent conversation, futurist Armando Pantoja highlighted that the outcome of the election could significantly influence Bitcoin's price trajectory, suggesting that once the electoral results are settled, a surge in Bitcoin's value is likely. He noted significant resistance levels at $70,000 and beyond, depending on who wins the election, with a Trump victory potentially accelerating the price rise.
Source: YAHOO
Reported 28 days ago
Citi has initiated a significant strategic shift by migrating various software applications to Google Cloud, focusing on advanced analytics, high-performance computing, and customer service improvements through AI technologies. As part of a broader modernization effort led by CEO Jane Fraser, this move aims to enhance operational efficiency and support Citi's global business framework. The collaboration includes the use of Google's Vertex AI for generative AI model deployment and Agent Assist to streamline customer service operations. While concerns about cloud security and vendor dependence persist, the partnership emphasizes flexibility, scalability, and adherence to local regulatory standards.
Source: YAHOO
Reported 28 days ago
As Bitcoin surpasses the $70,000 mark, investors are questioning whether it's the right time to buy or if postponing could provide better opportunities. BitLab Academy's Kelly Kellam stated that any time could be a good moment to invest in Bitcoin, stressing that waiting for an ideal moment is often futile. He highlighted the unpredictability of global events impacting the market and encouraged investors who believe in Bitcoin's long-term performance to seize current opportunities, warning that significant chances to buy under $70,000 may be dwindling.
Source: YAHOO
Reported 28 days ago
As Medicare's open enrollment period approaches, significant changes to Medicare Advantage plans will take effect in 2025. Financial expert Terry Savage highlights the need for beneficiaries to explore the implications of the $2,000 drug coverage cap beyond its surface, including potential eliminations of certain drugs and increased co-pays for other medications. She advises comparing plans on Medicare.gov, focusing on total yearly costs, monthly premiums, and specific drug coverage to ensure beneficiaries select the most suitable plan by the December 7 deadline.
Source: YAHOO
Reported 28 days ago
Javier Milei's early presidency has sparked cautious optimism among business leaders in Argentina after his administration's move to devalue the peso and implement austerity measures. Changes such as easing import controls and reducing financial unpredictability have improved the business climate, leading to increased sales and investor interest. However, despite recent positive trends, executives remain cautious about future growth, emphasizing the need for sustainable recovery amidst ongoing economic challenges.
Source: YAHOO
Reported 28 days ago
In August, US home prices rose 4.2% year-over-year, reaching record levels, as reported by the S&P CoreLogic Case-Shiller National Home Price Index. Despite a monthly increase of 0.3%, higher mortgage rates, now above 6.5%, continue to influence the housing market.
Source: YAHOO
Reported 28 days ago
The European Union has approved tariffs on Chinese-made electric vehicles (EVs) following a controversial investigation, with rates ranging from 7.8% for Tesla to 35.3% for other non-cooperative manufacturers. The tariffs will last for five years, starting immediately, but the EU remains open to negotiating alternatives with China. In retaliation, Beijing has initiated its own investigations into EU products. Furthermore, companies can request individual duty reviews or challenge the measures in court.
Source: YAHOO
Reported 28 days ago
The European Union has introduced increased tariffs on Chinese-manufactured electric vehicles, reaching up to 45.3%, following a controversial trade investigation. This move comes as China expresses disapproval and retaliates with probes into EU products, raising concerns about an escalating trade conflict. While some EU nations support these tariffs, others, including Germany, are advocating for diplomatic negotiations to resolve trade tensions while protecting their industries.
Source: YAHOO
Reported 28 days ago
Moncler reported a 3% decrease in third-quarter sales, slightly exceeding analyst expectations, as demand weakens across all major markets. The luxury outerwear brand faced challenges due to reduced consumer spending, particularly in China. Despite a successful Golden Week, total revenue of 635.5 million euros fell short of the projected 645 million euros. The company noted a 9% drop in wholesale revenue, impacting its key sales period, and experienced widespread sales declines across regions, indicating a volatile market environment.
Source: YAHOO
Reported 28 days ago
Goldman Sachs analyst Chris Shibutani highlights the importance of Pfizer's new R&D head, Dr. Mikael Dolsten, in the company's efforts to redefine its post-pandemic growth strategy. After outperforming Q3 expectations with a 23% revenue increase, Pfizer faces scrutiny from activist investors questioning its spending and acquisitions. Shibutani emphasizes that innovation will be key to navigating future success in the biopharma industry.
Source: YAHOO
Reported 28 days ago
Ford's stock declined nearly 9% after the automaker reported Q3 earnings that exceeded revenue estimates but provided a lowered profit forecast for 2024, expecting adjusted EBIT to be around $10 billion. The company faced challenges including supply disruptions and a one-time billion dollar charge related to EVs, while rival GM continued to raise its profit guidance. Ford announced significant revenue contributions from its traditional and commercial vehicle lines, but still anticipates losses in its electric vehicle division.
Source: YAHOO
Reported 28 days ago
OpenAI has teamed up with Broadcom and TSMC to develop its first in-house chip aimed at enhancing its AI systems. While initially considering building a network of foundries for chip manufacturing, the company has opted to focus on custom chip design, diversifying its supply by incorporating AMD chips alongside Nvidia chips to meet its expanding infrastructure needs. This strategic shift reflects OpenAI's efforts to manage rising costs and secure a reliable chip supply in a competitive tech landscape.
Source: YAHOO
Reported 28 days ago
As the US presidential election approaches, the US dollar is seeing significant gains as investors view it as a reflection of the 'Trump trade'. With mounting bets on a Trump victory and its potential impacts on tariffs and inflation, market expert Steve Dooley highlights that financial forecasts now suggest a Trump win could positively influence the dollar's trajectory.
Source: YAHOO
Reported 28 days ago
Starbucks is discontinuing its line of olive oil drinks known as Oleato to simplify its menu, effective November 7. The decision comes as new CEO Brian Niccol aims to streamline offerings and improve service speed after a period of declining same-store sales. The drinks, introduced in early 2023 and promoted by former CEO Howard Schultz, received mixed reviews and were reportedly not popular among baristas.
Source: YAHOO
Reported 28 days ago
The European Union will start imposing duties on electric vehicle imports from China due to failed trade negotiations, escalating tensions over Chinese subsidies affecting the European market. The tariffs, which will remain for five years unless an alternative solution is reached, range from 7.8% for Tesla to 35.3% for state-owned SAIC vehicles. This move has faced criticism, particularly from Germany, where there are concerns about its impact on free trade and the auto industry.
Source: YAHOO
Reported 28 days ago
In its latest earnings report, McDonald's exceeded profit and revenue expectations, largely due to its value offerings catering to cost-conscious consumers. Analyst Sean Dunlop discusses the company's strategic focus on value meals and promotions like the $5 Meal Deal, but warns that the fast-food chain faces significant challenges in price competitiveness against grocery stores as wage growth outpaces food inflation.
Source: YAHOO
Reported 28 days ago
Several major consumer brands are releasing their quarterly earnings reports this week, including Meta, PayPal, Visa, and Chipotle. Host Brad Smith discusses how everyday consumers influence these earnings and market dynamics.
Source: YAHOO