Reported about 5 hours ago
In Thursday's trading session, major stock indexes experienced significant gains, with the Nasdaq Composite jumping 2.5% after the Federal Reserve's recent interest rate cuts. The Dow Jones Industrial Average and S&P 500 also achieved record highs, reflecting a positive market response.
Source: YAHOO
Reported about 5 hours ago
Source: YAHOO
Reported about 5 hours ago
The Federal Reserve's recent half-percentage-point interest rate cut initially caused concerns about a potential economic slowdown; however, Fed Chair Jerome Powell successfully reassured investors that the decision was aimed at maintaining economic stability. Following his remarks, stocks surged to new record highs, with significant gains in major tech companies, indicating resilience in the market despite ongoing concerns about labor market conditions.
Source: YAHOO
Reported about 6 hours ago
Intel reassured investors that it has no intentions of divesting its majority ownership in Mobileye, leading to a rise in Mobileye's stock price. The announcement comes as Intel seeks to generate additional capital.
Source: YAHOO
Reported about 6 hours ago
Shares of Skechers are dropping after the company reported higher-than-expected pressures in the Chinese market for the remainder of 2024. Market analysts Julie Hyman and Josh Lipton discuss the challenges faced by Skechers in China and review its stock performance over the past year.
Source: YAHOO
Reported about 6 hours ago
Mortgage rates have dropped to an average of 6.09% after the Federal Reserve's recent rate cut, marking the lowest level since early February 2023. This decline, however, was largely anticipated by the markets, with mortgage applications seeing a significant increase as potential buyers react to the better affordability. Economists predict that while the rate cut may have a positive effect on housing demand, mortgage rates might not fall significantly lower in the near future.
Source: YAHOO
Reported about 6 hours ago
Target has announced the appointment of Jim Lee, previously of PepsiCo, as its new chief financial officer, effective September 22. Following this news, shares of Target (TGT) experienced a notable increase, as discussed by market analysts Julie Hyman and Josh Lipton.
Source: YAHOO
Reported about 6 hours ago
The average rate for a 30-year fixed mortgage has decreased to 6.09%, marking the lowest level since February 2023. This decline has been analyzed by housing experts, providing insights into the market dynamics affecting mortgage rates.
Source: YAHOO
Reported about 6 hours ago
In response to the Federal Reserve's decision to cut interest rates by 50 basis points, former Kansas City Fed President Thomas Hoenig expressed disappointment, suggesting that the Fed may be prematurely celebrating the move. He discusses the implications of this cut on the labor market and inflation, emphasizing the need for caution in monetary policy.
Source: YAHOO
Reported about 6 hours ago
Source: YAHOO
Reported about 6 hours ago
Source: YAHOO
Reported about 7 hours ago
Nvidia and AMD stocks led a tech rally on Thursday, with Nvidia rising over 5% and AMD increasing nearly 7% after the Federal Reserve cut interest rates by 50 basis points. The tech-heavy Nasdaq experienced a 2.5% increase, reflecting investor confidence following Fed Chair Jerome Powell's optimistic assessment of the US economy. Despite recent challenges, Nvidia continues to thrive from the AI boom, seeing a remarkable 172% increase over the past year, while AMD shares are up approximately 55%. However, concerns loom regarding future restrictions following upcoming US presidential elections.
Source: YAHOO
Reported about 7 hours ago
Source: YAHOO
Reported about 7 hours ago
Source: YAHOO
Reported about 7 hours ago
As the Federal Reserve embarks on its first interest rate cutting cycle in four years, Citi's head of US equity strategy, Scott Chronert, discusses the current 'transition phase' of the stock market. He notes that while the shift from a hawkish Fed signals a change, the market remains under restrictive monetary conditions. Chronert warns of potential downside risks for economically sensitive sectors as the market adapts to these new dynamics while navigating the upcoming Q3 earnings reports.
Source: YAHOO
Reported about 7 hours ago
In light of the Federal Reserve's recent interest rate cut, Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), emphasizes the agency's commitment to ensuring that everyday consumers benefit from these changes rather than just wealthier individuals. He highlights the need for streamlined refinancing processes to alleviate the financial burden from high interest rates on loans and credit cards that have accrued since 2022. The CFPB also intends to tackle 'junk fees' that hinder refinancing attempts, aiming to provide a clearer and more equitable financial landscape for households.
Source: YAHOO
Reported about 7 hours ago
In a recent interview, JetBlue Airways CEO Joanna Geraghty asserted that the airline is undervalued, emphasizing its strengths and the importance of aligning with activist investors like Carl Icahn. Despite the termination of its merger agreement with Spirit Airlines, Geraghty stated that JetBlue is concentrating on returning to profitability and enhancing customer experience, while maintaining a strong commitment to safety and employee transparency.
Source: YAHOO
Reported about 7 hours ago
As the Federal Reserve begins its rate easing cycle, experts suggest that homeowners may soon have opportunities to refinance at lower rates. With mortgage rates decreasing, the lock-in effect that has kept many homeowners from listing their properties could finally break. It is a favorable moment for buyers and homeowners to leverage their equity and consult with mortgage professionals to secure advantageous rates, especially considering the significant number of homeowners who might not have refinanced yet due to previously lower rates.
Source: YAHOO
Reported about 8 hours ago
The Nasdaq, along with the Dow Jones and S&P 500, surged as investors reacted positively to the Federal Reserve's recent 50 basis point interest rate cut. Major chip stocks like Nvidia and AMD soared over 5%. Attention is also on FedEx as it prepares to release its first-quarter earnings later today, while notable mentions include Tesla, Meta Platforms, and PayPal Holdings.
Source: YAHOO
Reported about 8 hours ago
T-Mobile CEO Mike Sievert outlined ambitious growth plans at a recent analyst event, targeting a 5% annual revenue growth rate through 2027 and $10 billion in adjusted operating profits compared to 2023. The company also committed to $50 billion in dividends and stock buybacks. Sievert highlighted the success of the Sprint merger and emphasized continued customer growth as T-Mobile surpassed 100 million postpaid subscribers. The demand for Apple's iPhone 16 is expected to impact T-Mobile's guidance for the upcoming year.
Source: YAHOO
Reported about 8 hours ago
As the Federal Reserve initiates interest rate cuts, Matt Stucky from Northwestern Mutual urges investors to review their financial strategies and portfolio allocations. With approximately $6.3 trillion in money market funds, he cautions against blindly seeking returns similar to recent yields, advising a strategic approach to cash allocations. While the tech sector has led market growth this year, he warns of potential recession risks, emphasizing the importance of diversification to mitigate risks in uncertain economic conditions.
Source: YAHOO
Reported about 8 hours ago
The Federal Reserve recently initiated its interest rate easing cycle with a significant 50-basis-point cut. This decision is particularly relevant for homebuyers who have been hesitant due to high mortgage rates. The cut could signal a shift in the housing market, as mortgage rates have begun to decline over recent months, making it a potentially favorable time for those looking to purchase a home.
Source: YAHOO
Reported about 8 hours ago
In a recent segment of Yahoo Finance's Investing 101, Tiffany Aliche shared valuable tips for young professionals on budgeting effectively while saving for retirement and managing debts and necessary expenses like rent. She emphasized the importance of dividing income across various accounts to build emergency savings and avoid relying solely on credit cards in case of unexpected expenses.
Source: YAHOO
Reported about 8 hours ago
T-Mobile CEO Mike Sievert discussed the company’s positive momentum as it moves into the AI era, emphasizing their successful network strategies and recent acquisitions. He highlighted T-Mobile's collaboration with OpenAI to enhance customer service by predicting customer needs, aiming for a significant reduction in calls to human agents. Sievert also acknowledged the impact of the economic environment and demand for new devices like the iPhone 16.
Source: YAHOO
Reported about 9 hours ago
Former President Donald Trump joined a chorus of political voices condemning the Federal Reserve's unexpected interest rate cut, suggesting it reflects broader economic weaknesses. As the Fed's easing measures coincide with a politically charged election season, analysts are questioning the potential for perceived political biases in its decisions.
Source: YAHOO