Reported about 23 hours ago
The APEC summit in Gyeongju, South Korea, is set to conclude as leaders from 21 nations celebrate a temporary trade truce between U.S. President Trump and Chinese leader Xi Jinping. The summit, overshadowed by their bilateral meeting, focused on trade and investment solutions amidst tensions surrounding North Korea's nuclear ambitions. South Korea, as host, aims for a joint declaration to promote free trade despite ongoing disagreements among member countries.
Source: YAHOO
Reported about 23 hours ago
As the global oil market faces a significant supply glut, Exxon Mobil is pursuing expansion projects, continuing to invest in growth despite low oil prices, while Chevron focuses on maximizing cash flow from existing operations to navigate the downturn. This divergence in strategy comes after both companies reported better-than-expected quarterly results, showcasing contrasting paths where Exxon aims for long-term growth and Chevron seeks to stabilize and generate immediate cash.
Source: YAHOO
Reported about 23 hours ago
Alphabet and Amazon reported better-than-expected third-quarter profits, largely due to increased valuations of their investments in AI startup Anthropic. Alphabet's profit was enhanced by $10.7 billion from equity securities linked to Anthropic, while Amazon's profit jumped 38%, aided by a $9.5 billion pretax gain from its stake in the company. These financial boosts underscore the growing impact of generative AI investments on major corporations.
Source: YAHOO
Reported 1 day ago
President Trump's efforts to bolster the U.S. coal industry face challenges as coal exports drop significantly due to tariffs imposed by China. A recent government report indicates a 14% decline in domestic coal exports this year, primarily attributed to China halting its coal imports from the U.S. Despite attempts to support the industry through regulatory rollbacks and financial pledges, rising natural gas prices, not Trump’s policies, have contributed to a modest increase in coal production. Analysts remain uncertain if upcoming trade discussions will positively impact coal exports.
Source: YAHOO
Reported 1 day ago
House Oversight Committee Chairman James Comer has asked former US Attorney Alex Acosta to clarify his recent testimony regarding the investigation into Jeffrey Epstein, particularly concerning any financial crimes associated with Epstein's 2007 plea deal. A report citing emails from Epstein's Yahoo account revealed that Acosta's office had investigated Epstein for potential money laundering, despite Acosta's recollection of the investigation being mainly focused on sex crimes. Democratic committee members are calling for subpoenas to banks linked to Epstein to better understand his financial activities.
Source: YAHOO
Reported 1 day ago
This week witnessed a notable earnings season where approximately 87% of stocks beat earnings expectations and 83% exceeded revenue forecasts, marking the ninth consecutive quarter of earnings growth. BD8 Capital Partners CEO Barbara Doran highlighted strong corporate guidance, especially in sectors like entertainment and travel, despite some signs of stress among lower-income consumers. The demand for artificial intelligence (AI) remains robust, with predictions for substantial growth in AI chip sales, suggesting ongoing opportunities in the market, particularly for innovative companies like Uber, Eli Lilly, and Crowdstrike.
Source: YAHOO
Reported 1 day ago
Pfizer has initiated a lawsuit to stop Novo Nordisk's unsolicited bid for the drugmaker Metsera, which Novo announced could be valued at up to $9 billion. Pfizer argues that Novo's offer, which competes with Pfizer's own nearly $5 billion bid from September, poses significant regulatory risks and amounts to an illegal attempt to stifle competition. Metsera is currently developing treatments for obesity and diabetes but has no products available on the market.
Source: YAHOO
Reported 1 day ago
KBW analysts have downgraded Berkshire Hathaway (BRK-B, BRK-A) to a Sell rating just before the company's upcoming earnings report, citing concerns over declining revenues and margins across various business segments, including GEICO and railroads. Analyst Meyer Shields highlights that profitability is being threatened by factors such as dampened rate increases, rising claim filings, and deteriorating market conditions for catastrophe reinsurance. Additionally, investment income may decrease with falling interest rates, and upcoming changes in tax credits for alternative energy could further impact long-term earnings potential.
Source: YAHOO
Reported 1 day ago
Three Federal Reserve officials expressed disagreement with the decision to cut interest rates, arguing that the Fed is responding too soon to inflation concerns. While the rate cut aims to preserve jobs amid ongoing trade uncertainties and sluggish growth, officials like Beth Hammack and Lorie Logan emphasize that inflation remains significantly above the Fed's 2% target, creating a complex dilemma between fostering employment and maintaining price stability.
Source: YAHOO
Reported 1 day ago
Alaska Airlines has announced a partnership with Accenture to audit its IT systems after a significant global outage linked to Microsoft's Azure platform disrupted services, leading to the cancellation of over 400 flights and impacting more than 49,000 passengers. The airline will provide an updated fourth-quarter forecast in December, once it fully assesses the financial repercussions of the disruptions.
Source: YAHOO
Reported 1 day ago
Polestar has received notice from Nasdaq for not adhering to its listing rules by failing to maintain a minimum share price of $1, as the company's stock continues to decline amid fierce competition in the electric vehicle market. The company's shares closed at 84 cents, down approximately 20% this year. Polestar has 180 days to comply with regulations or may receive a further extension, marking their second encounter with potential delisting due to previous compliance issues.
Source: YAHOO
Reported 1 day ago
During a recent earnings call, Coinbase CEO Brian Armstrong casually named key cryptocurrency terms which had been betted on in prediction markets, revealing how easily these markets can be manipulated. This event raises questions about the integrity of mention markets, which allow bets on public statements, and their susceptibility to influence from the very figures being observed. As industry regulation evolves, it remains to be seen how to effectively govern these emerging market dynamics.
Source: YAHOO
Reported 1 day ago
Four Federal Reserve officials indicated a preference for keeping interest rates steady due to inflation concerns, casting doubt on a potential December rate cut. Kansas City Fed President Jeff Schmid highlighted the need to stabilize rates amid rising inflation, while Dallas Fed President Lorie Logan and Cleveland Fed President Beth Hammack echoed similar sentiments. They emphasized that inflation, while lower than its peak, remains above the Fed’s 2% target, warranting caution in monetary policy adjustments.
Source: YAHOO
Reported 1 day ago
On October 31, 2025, the U.S. stock market finished strong, buoyed by Amazon's better-than-expected profits, contributing to the S&P 500's 0.3% rise, nearing its all-time high. The S&P 500, Dow Jones, and Nasdaq recorded gains for the day, while the Russell 2000 saw a slight decline. The S&P 500 marked its third consecutive winning week and sixth winning month, signaling its longest monthly winning streak since 2021.
Source: YAHOO
Reported 1 day ago
The US economy is increasingly reliant on artificial intelligence (AI), with major tech companies now accounting for a third of the stock market's value. As investment in AI reaches $400 billion in 2025, concerns are growing over the potential risks of an economic downturn should the technology fail to deliver expected results. While some economists believe AI's impact differs from the dot-com bubble, others warn of significant consequences for global markets if predictions do not materialize.
Source: YAHOO
Reported 1 day ago
On October 31, 2025, Amazon's stock surged nearly 10% to an all-time high driven by strong earnings from its cloud computing business, while the S&P 500 index rose 0.3% overall. In contrast, DexCom's shares fell nearly 15% after the company's cautious revenue forecast for 2026 overshadowed its third-quarter performance, alongside other mixed results across various companies.
Source: YAHOO
Reported 1 day ago
Chevron's CFO Eimear P. Bonner stated that the company's growth strategy is materializing following its acquisition of Hess, increasing oil production significantly. During a discussion with Yahoo Finance, Bonner highlighted Chevron's focus on cash generation from upstream projects, strong quarterly earnings, and future plans amidst fluctuating oil prices and geopolitical tensions, particularly in Venezuela.
Source: YAHOO
Reported 1 day ago
US stocks rebounded on Friday, with the Dow, S&P 500, and Nasdaq all closing higher, capping off a successful month fueled by strong earnings from Amazon and other tech giants. The Nasdaq rose 0.6% for the day, marking its second consecutive month of over 4% gains. Amazon shares soared nearly 10% after exceeding analyst expectations, while Apple also hit a record high amid favorable results. Market optimism was further supported by easing concerns over interest rates after recent Federal Reserve meetings.
Source: YAHOO
Reported 1 day ago
Two federal judges decided that the Trump administration's pause on food-aid benefits during the government shutdown is likely illegal, ordering the use of contingency funds to ensure the Supplemental Nutrition Assistance Program (SNAP) remains operational. With over 42 million Americans relying on SNAP, the judges highlighted the immediate need for benefits amid growing food insecurity, urging officials to consider alternative funding to maintain support while Congress works on a budget deal.
Source: YAHOO
Reported 1 day ago
US stock markets rallied on Friday, with the S&P 500 and Nasdaq closing the month on a high note, largely driven by Amazon’s impressive quarterly results. Amazon shares surged nearly 10% after surpassing earnings expectations, particularly boosted by growth in its cloud services. The Nasdaq gained 0.6%, while the S&P 500 rose 0.3%. Overall, strong performances from major tech firms and easing concerns about interest rates contributed to the upward trend in the markets.
Source: YAHOO
Reported 1 day ago
Tesla's board is urging shareholders to support CEO Elon Musk's compensation package, potentially worth up to $1 trillion, at the upcoming annual meeting on November 6. This package includes strict operational goals, such as achieving an $8.5 trillion market cap within the next decade. While the company leadership is actively campaigning for approval, some influential investors have expressed opposition, raising concerns about the package's fairness.
Source: YAHOO
Reported 1 day ago
For the first time in seven years, Bitcoin is experiencing a monthly loss in October, following significant market uncertainty. The decline, approximately 5%, comes amidst a volatile atmosphere impacted by U.S. trade policies and investor concerns over high stock valuations. Despite this downturn, Bitcoin remains over 16% up for the year, attributed partly to shifts in regulatory attitudes towards cryptocurrencies under Trump's administration.
Source: YAHOO
Reported 1 day ago
Meta has signed three agreements this week to purchase nearly 1 gigawatt of solar power, bringing its total solar purchases to over 3 gigawatts this year. The recent deals include two in Louisiana for 385 megawatts and a larger agreement for 600 megawatts from a solar farm in Texas. While the Louisiana deals focus on offsetting carbon emissions, experts express concern over the effectiveness of environmental attribute certificates, suggesting that companies should invest in new renewable energy capacity instead.
Source: YAHOO
Reported 1 day ago
US Treasury yields increased this week as traders reduced their bets on a Federal Reserve rate cut in December, following hawkish comments from Chair Jerome Powell and signs of economic resilience. The yield on 10-year notes fell to about 4.09% after starting below 4%. Despite a recent rate reduction, Powell's remarks signaled that further easing is uncertain, leading to a reassessment of market expectations. Investors are also waiting for more economic data impacted by a government shutdown, while strong corporate bond sales added pressure on Treasuries.
Source: YAHOO