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
Reported 28 days ago
CNN has banned conservative writer Ryan Girdusky after he made a contentious remark during an on-air discussion with panelist Mehdi Hasan regarding a September attack involving pagers. Girdusky's comment, 'I hope your beeper doesn't go off,' was interpreted as insensitive and led to an apology from the host, Abby Phillip, and his subsequent removal from the network. CNN emphasized its stance against racism and bigotry, declaring that such behavior will not be tolerated.
Source: YAHOO
Reported 28 days ago
Consensys, a cryptocurrency firm, announced on Tuesday that it will be reducing its workforce by 20%, affecting 162 of its 828 employees. The company cites ongoing macroeconomic pressures, regulatory challenges from the SEC, and rising interest rates as factors contributing to this decision. CEO Joseph Lubin highlighted that regulatory overreach has resulted in significant job losses and financial burdens for the industry, while also noting the adverse impact of heightened inflation and a lack of regulatory frameworks in some markets.
Source: YAHOO
Reported 28 days ago
The Dutch Authority for the Financial Markets (AFM) is collaborating with the European Securities and Markets Authority to improve pre-trade controls for algorithmic trading, aiming to prevent erroneous orders from disrupting markets. New rules under MiFID II require traders to verify order factors before execution. AFM is also partnering with the University of Oxford to study trading models and manipulation risks. The growing complexity of AI in trading necessitates a better understanding of algorithms' triggers, underscoring the need for ongoing regulatory advancements.
Source: YAHOO
Reported 28 days ago
Microsoft's GitHub has partnered with Google and Anthropic to integrate their AI models into its coding assistant, GitHub Copilot, which is widely used by software developers. Initially, users will access Google’s Gemini and Anthropic's Claude 3.5 Sonnet for interactive queries, with plans for full integration into the Copilot service. While OpenAI models will remain the default, developers can switch to other options if preferred. GitHub is also introducing an AI project called Spark, enabling users to build applications using plain English prompts. This move reinforces GitHub's aim to provide customers with diverse AI tools while enhancing the coding experience.
Source: YAHOO
Reported 28 days ago
CEOs of Goldman Sachs and Morgan Stanley predict a rise in corporate dealmaking in 2025, with Morgan Stanley's Ted Pick stating it will be a global trend and Goldman Sachs' David Solomon echoing similar expectations. Additionally, Apollo Global Management's Marc Rowan believes a potential Trump presidential victory could further stimulate merger and acquisition activities.
Source: YAHOO
Reported 28 days ago
The EU is set to start imposing duties on imports of electric vehicles from China beginning Thursday, October 31, 2024.
Source: YAHOO
Reported 28 days ago
As major tech companies like Alphabet and Microsoft prepare to announce their earnings, experts discuss investor expectations. Barclays' Venu Krishna notes that earnings moderation is anticipated, and any beat of 5% to 6% over Wall Street's estimates would be acceptable, while exceeding those expectations would be exceptional. He cautions that with high investor expectations, anything below this threshold could lead to disappointment, as at times, Big Tech's performance has shown increased correlation with overall market trends.
Source: YAHOO
Reported 28 days ago
Job openings in the U.S. fell to 7.44 million in September, marking the lowest level since January 2021 and exceeding expectations of 8 million. Economists note a cooling labor market ahead of the Federal Reserve's interest rate decision on November 7, while hiring slightly increased to 5.55 million. The quits rate also declined to 1.9%, reflecting less confidence among workers and a reduction in job opportunities.
Source: YAHOO
Reported 28 days ago
Check Point Software Technologies' CEO Gil Shwed highlights the inadequacy of simply detecting cyberattacks in light of recent earnings reports. Despite a 7% revenue increase, he notes a significant rise in cyberattacks, with a global increase of 75% and 56% in the US. He stresses that the focus should shift from detection to prevention as modern, sophisticated attacks can easily infiltrate and damage organizations, marking a crucial turning point in cybersecurity strategies.
Source: YAHOO
Reported 28 days ago
Bitcoin has surpassed the $71,000 mark, driving a rally in crypto stocks like Coinbase, MicroStrategy, and Riot Platforms. Hosts Seana Smith and Josh Schafer analyze the implications of this surge in the cryptocurrency market, especially as it coincides with the upcoming US presidential election.
Source: YAHOO