Reported about 1 month ago
France's leftist coalition has condemned President Emmanuel Macron for rejecting their candidate for prime minister, claiming it undermines democracy following an inconclusive election. Macron, asserting his authority, refused the nomination, citing a lack of parliamentary support for a left-wing government. The situation has sparked calls for protests and highlighted divisions within the leftist coalition regarding their response to Macron's decision.
Source: YAHOO
Reported about 1 month ago
The recent federal court ruling against the Venu Sports streaming service, a joint venture among ESPN, Fox, and Warner Bros. Discovery, has cast doubt on its launch and the future of sports streaming options for consumers. The ruling raises significant antitrust concerns and suggests a potential shift in how networks bundle sports programming, as the industry grapples with competition from various platforms and user-generated content. Legal proceedings regarding this case are expected to continue, impacting the overall landscape of sports media rights and consumer choices.
Source: YAHOO
Reported about 1 month ago
A cybersecurity firm, Lumen Technologies, reported that a Chinese hacking group exploited a previously unknown vulnerability in the Versa Director software to compromise several internet companies in the US and abroad. The hacking campaign, associated with a group nicknamed 'Volt Typhoon', reportedly began as early as June 12 and aims to surveil the customers of the targeted companies. Despite the ongoing allegations, the Chinese government has consistently denied any involvement in cyber espionage.
Source: YAHOO
Reported about 1 month ago
Treasury yields are rising as investors await the upcoming Personal Consumption Expenditure (PCE) index. WisdomTree's Kevin Flanagan notes that the Federal Reserve's planned interest rate cuts, which could begin at unprecedented levels, will heavily influence fixed income investments. He emphasizes the need for data-driven decisions, pointing out that the labor market is cooling but not drastically declining, suggesting the fixed income market may be overreacting.
Source: YAHOO
Reported about 1 month ago
Italian Prime Minister Giorgia Meloni is working to address a €12 billion budget deficit through cost-cutting measures and delayed retirements. The coalition faces the challenge of securing about €25 billion for the 2025 budget, amid rising tensions within the government as partners grapple over tax cuts and spending commitments. With a fiscal plan due by mid-September, Meloni's administration must balance voter promises with fiscal responsibility to appease both the EU and internal coalition partners.
Source: YAHOO
Reported about 1 month ago
BBVA's Colombian unit has successfully issued ordinary shares worth 877 billion pesos (approximately $218 million) through the Colombian stock exchange. The initial tranche included 3.24 billion shares priced at 270 pesos each, with an additional 152.7 million shares expected to be issued later. The funds raised will be used to bolster capital for growth in the region.
Source: YAHOO
Reported about 1 month ago
Bargain seekers are finding appealing options in the municipal bond market, with underwriters offering competitive terms as they aim to attract investors. Current yields on state and local government bonds are at their lowest since late 2023, with significant bond sales expected ahead of the presidential election. Analysts from JPMorgan foresee the next two months as potentially the best time to purchase bonds this year, noting that recent municipal deals have been well-received due to their attractive pricing.
Source: YAHOO
Reported about 1 month ago
Traders anticipate that Nvidia's upcoming earnings report could lead to a historic $300 billion swing in the company’s shares, with options pricing indicating a potential 9.8% move. This would mark the largest expected earnings move for any company in history, significantly impacting the broader market, where Nvidia has already contributed substantially to the S&P 500's gains this year. The high volatility and investor sentiment around artificial intelligence developments are driving these expectations.
Source: YAHOO
Reported about 1 month ago
The Bank of Montreal's shares fell 6.9% after the bank reported lower-than-expected earnings and higher provisions for credit losses linked to its commercial loans. BMO's adjusted profit of C$2.64 per share missed analysts' estimates and the bank anticipates ongoing challenges in credit performance due to exposure in sectors like commercial real estate and manufacturing. Analysts are concerned that these issues will continue to negatively impact the bank's earnings.
Source: YAHOO
Reported about 2 months ago
As Wall Street anticipates an interest rate cut from the Federal Reserve, strategist Thomas Hayes advises investors to prepare their portfolios for potential volatility. He notes that previous trends indicate the weeks following the Fed's first cut typically see reduced volatility, despite upcoming election-related market fluctuations. Hayes emphasizes that now is the time for investors to seize opportunities as markets respond to upcoming earnings reports.
Source: YAHOO
Reported about 2 months ago
Following a significant work stoppage that halted most of Canada's rail network, operations resumed for Canadian National and Canadian Pacific Kansas City after a labor dispute was sent to binding arbitration. Although labor disruptions are barred during this arbitration, the Teamsters Canada Rail Conference plans to challenge the government's decision in court, leaving the timeline for new contracts uncertain. The situation has highlighted Prime Minister Trudeau's difficult balancing act between labor support and protecting the economy, especially as the country's supply chain waits to recover from the disruptions.
Source: YAHOO
Reported about 2 months ago
Consumer confidence in the U.S. has surged to a six-month high due to improved economic outlooks, despite growing anxiety over the labor market as unemployment rises to near three-year highs. While inflation expectations have fallen, leading to anticipated interest rate cuts by the Federal Reserve, consumers remain cautious about future job availability and their income prospects, suggesting potential shifts in spending behavior.
Source: YAHOO
Reported about 2 months ago
Wall Street's main indices experienced little movement as investors remained cautious ahead of Nvidia's earnings report and important economic data. The S&P 500 and Nasdaq traded in a tight range, with Nvidia's shares gaining moderately despite initial losses. Analysts anticipate Nvidia's revenue to have more than doubled, while market sentiment is also influenced by the potential for interest rate cuts by the Federal Reserve. Despite tech stocks showing slight gains, overall trading was characterized by a mix of declines in consumer discretionary stocks and uncertainty about future economic conditions.
Source: YAHOO
Reported about 2 months ago
Cerebras Systems has launched a new tool for AI developers that leverages its large chips, promising a more cost-effective alternative to Nvidia processors for running applications. The Sunnyvale-based company claims its Wafer Scale Engines deliver performance unmatched by traditional GPUs while maintaining high accuracy. With pricing starting at 10 cents per million tokens, Cerebras aims to capture a significant share of the growing AI inference market as it prepares for a potential public offering.
Source: YAHOO
Reported about 2 months ago
Shares of Brazilian mining company Vale increased by about 3% after the announcement of Gustavo Pimenta's appointment as the new CEO, replacing Eduardo Bartolomeo. Analysts believe that this leadership change, which aims to stabilize the company's strategy following a tumultuous succession process, will positively impact Vale's stock, which has been down 16% this year. Pimenta, who was previously the CFO, enjoys a strong reputation in the investment community and is expected to enhance investor confidence.
Source: YAHOO
Reported about 2 months ago
Source: INVESTORS
Reported about 2 months ago
Cerebras Systems Inc., a startup based in Silicon Valley, has launched a new chip designed to outperform Nvidia in artificial intelligence computing. The chip will be offered alongside computing systems for data centers, as well as a pay-as-you-go service. Cerebras' founder, Andrew Feldman, claims that their technology can revolutionize the AI industry, comparing it to the transition from dial-up to high-speed internet. However, Cerebras still faces significant competition from established players like Nvidia and Intel as it looks to carve its share of a rapidly expanding market.
Source: YAHOO
Reported about 2 months ago
Shares of Super Micro Computer Inc. fell after Hindenburg Research announced it is shorting the company, citing serious accounting concerns and issues with undisclosed related-party transactions. Despite the stock's peak performance this year, the report has raised scrutiny over Super Micro's practices, particularly in light of their significant role in the artificial intelligence sector. Super Micro's stock fell as much as 8.7% before stabilizing at a 2% decline.
Source: YAHOO
Reported about 2 months ago
Philip Morris International plans to invest $232 million to expand its Owensboro, Kentucky factory that produces ZYN nicotine pouches, aiming to enhance production capacity by 40% and create 450 jobs. This move is part of the company's strategy toward a smoke-free future and meets the rising demand for smokeless alternatives, as nicotine pouches become a popular choice for consumers transitioning from traditional tobacco products. The expansion is expected to be completed by the second quarter of 2025.
Source: YAHOO
Reported about 2 months ago
Goldman Sachs and Morgan Stanley are adjusting their crude oil price forecasts downward as OPEC+ intends to boost production in October amid rising tensions in the Middle East between Israel and Hezbollah. Yahoo Finance's Ines Ferré discusses these changes and their implications for oil producers.
Source: YAHOO
Reported about 2 months ago
Warren Buffett is making headlines by investing $35 billion in a renewable energy initiative that remains unproven, all while significantly backing fossil fuel companies like Chevron and Occidental Petroleum. Despite concerns about the economic feasibility of carbon capture technology, Buffett believes successful investments in this area could sustain the oil and gas industry. His long-term strategy indicates confidence in evolving energy solutions, setting him apart from current market trends.
Source: YAHOO
Reported about 2 months ago
In a letter to the US House Judiciary Committee, Meta CEO Mark Zuckerberg expressed concerns that White House officials pressured the company to censor content related to COVID-19 in 2021.
Source: YAHOO
Reported about 2 months ago
Cathie Wood, the CEO of Ark Invest, continues to make bold investments in disruptive companies despite many of her funds being down this year. Recently, she added to her holdings in DraftKings, Shopify, and Tempus AI, capitalizing on their growth potential. DraftKings has seen impressive user growth, Shopify is rebounding with strong revenue figures, and Tempus AI is gaining traction in the AI healthcare space after a successful earnings report.
Source: YAHOO
Reported about 2 months ago
The US labor market plays a significant role in shaping the Federal Reserve's decisions, especially regarding interest rate changes. Its effects also ripple through corporate earnings and investor portfolios, highlighting the interconnectedness between labor dynamics and financial markets. Madison Mills discusses these impacts in detail.
Source: YAHOO
Reported about 2 months ago
As investor confidence builds for a possible interest rate cut during the Fed's September meeting, HSBC chief US economist Ryan Wang suggests that a 25 basis point cut is likely. He emphasizes the importance of labor market conditions and argues that there is enough time for the Fed to proceed cautiously and make incremental adjustments rather than taking aggressive actions.
Source: YAHOO