Reported about 1 month ago
According to Piper Sandler's Craig Johnson, the current bull market, which originated in October 2022, is still young and has the potential to continue rising. With the S&P 500 recently reaching new highs, Johnson believes factors such as lowered interest rates, a stabilizing yield curve, improved financials, and broad market participation suggest further upward movement. Historical trends indicate that new record highs often lead to even more gains, although uncertainties such as elections, geopolitical tensions, and premature rate cuts could pose risks.
Source: YAHOO
Reported about 1 month ago
Elon Musk has ramped up his financial support for Donald Trump's 2024 presidential campaign, contributing a total of $132 million, including $56 million in just the first two weeks of October. This surge in donations coincides with Musk's announcement to offer $1 million daily to registered voters signing his super PAC's petition. However, there are concerns about how Musk's involvement might affect Trump's re-election efforts, particularly in light of his controversial communications with Russian officials.
Source: YAHOO
Reported about 1 month ago
Companies are delaying merger and acquisition plans due to uncertainty surrounding the upcoming US presidential election. Notable mergers, like ConocoPhillips with Marathon Oil, are seeing timelines extended into 2025 or later, influenced by potential changes in antitrust enforcement policies depending on the election outcome.
Source: YAHOO
Reported about 1 month ago
US Treasuries faced a tumultuous week, with volatility reaching a yearly high as yields surged over 4.2% for the first time since July. The expected upcoming events, including a jobs report, the US election, and a Federal Reserve meeting, indicate potential for further instability in the bond market. Analysts suggest that rising inflation expectations and political uncertainties are contributing to the shifts in bond yields, which may test 5% in the next six months. However, investor sentiment remains cautious due to election risks, leading to a mixed outlook on future investment strategies.
Source: YAHOO
Reported about 1 month ago
On Friday, US stocks closed with mixed results, as the tech-heavy Nasdaq Composite rose about 0.6%, nearing a record high amidst ongoing uncertainty regarding the Federal Reserve's interest rate policy. Although the Nasdaq managed to achieve the only weekly gain among major indexes, both the Dow Jones Industrial Average and the S&P 500 faced losses. Investors are now focused on the upcoming earnings from major tech companies and the implications of the October jobs report.
Source: YAHOO
Reported about 1 month ago
Lyft has agreed to a $2.1 million settlement to resolve U.S. Federal Trade Commission allegations that it misrepresented potential earnings to prospective drivers. The FTC accused Lyft of using misleading advertisements that exaggerated earnings based on the top-performing drivers, which led many drivers to believe they could earn more than was realistic. As part of the settlement, Lyft must ensure future claims about earnings are based on actual typical pay and clearly communicate the terms of any earnings guarantees.
Source: YAHOO
Reported about 1 month ago
As the US presidential election approaches, JPMorgan Chase CEO Jamie Dimon has not publicly endorsed any candidate, although he reportedly supports Kamala Harris and may consider a Treasury Secretary role if she wins. The article discusses whether Dimon will break his political silence and make a public endorsement in the days leading up to the election, while notable figures like Mark Cuban and Paul Krugman weigh in on his potential cabinet fit.
Source: YAHOO
Reported about 1 month ago
On October 25, 2024, U.S. stock markets closed mixed, with the Nasdaq Composite gaining 0.56%, while the Dow Jones Industrial Average dropped by 0.61%. The S&P 500 finished slightly below the flatline. Analysts discussed the day's market movements alongside an examination of this week's sector performance.
Source: YAHOO
Reported about 1 month ago
The recently blocked acquisition of Capri Holdings by Tapestry has led to a drop in Capri's stock, raising concerns about its performance. Bernstein analyst Aneesha Sherman pointed out that the odds of the deal proceeding have significantly decreased, which she believes is beneficial for Tapestry. As Capri's financial situation worsens, there may be limited upside unless it divests its Jimmy Choo and Versace brands.
Source: YAHOO
Reported about 1 month ago
Centene's shares rose after exceeding third-quarter earnings estimates, while HCA Healthcare and Universal Health Services saw declines in their stocks following disappointing earnings results. Market experts Julie Hyman and Josh Schafer discuss the wider trends in the healthcare industry revealed by these earnings.
Source: YAHOO
Reported about 1 month ago
VW's Scout Motors has unveiled two electric vehicles, the Terra pickup and the Traveler SUV, which both feature a traditional body-on-frame construction. These EVs can accelerate from 0-60 mph in just 3.5 seconds and are equipped with a range-extender hybrid option called 'Harvester,' allowing for over 500 miles of range when the gasoline generator is utilized. Designed in Michigan and built in South Carolina, the vehicles will be priced starting under $60,000, with preorders already generating strong initial interest.
Source: YAHOO
Reported about 1 month ago
The New York Stock Exchange (NYSE) announced plans to extend trading hours on its digital platform to 22 hours daily, allowing investors to trade U.S. stocks and ETFs from 1:30 a.m. ET to 11:30 p.m. ET on weekdays. This change aims to meet growing global demand for U.S. securities and is pending regulatory approval. Currently, extended trading occurs from 4 a.m. to 8 p.m. ET, with regular trading hours from 9:30 a.m. to 4 p.m. ET.
Source: YAHOO
Reported about 1 month ago
Deckers Outdoors (DECK) shares rose significantly after the company reported better-than-expected earnings and raised its outlook, driven by the popularity of its Hoka and Ugg brands. Analysts and market hosts discussed the positive performance alongside other shoe brands like Skechers and ON, highlighting trends in the apparel industry.
Source: YAHOO
Reported about 1 month ago
Newell Brands (NWL), the parent company of well-known brands such as Sharpie and Yankee Candles, saw its stock prices soar after raising its full-year outlook. Financial analysts Julie Hyman and Josh Schafer discussed the implications for investors during a recent segment on Market Domination.
Source: YAHOO
Reported about 1 month ago
Chipotle has achieved significant growth by prioritizing the well-being and career development of its employees. The story of the Armendariz sisters exemplifies this strategy; they started as crew members and have ascended to prominent roles within the company, showcasing how a clear career progression and supportive work environment can lead to success. With initiatives like tuition reimbursement and stock options, Chipotle aims to retain talent, reduce turnover, and cultivate a positive workplace culture, resulting in substantial revenue growth and expansion plans.
Source: YAHOO
Reported about 1 month ago
The Biden administration has launched a new student debt relief proposal targeting borrowers at risk of default, potentially helping up to 8 million individuals. This plan aims to automatically discharge loans for those deemed likely to default within two years and offers an application process for others facing financial hardships. Despite ongoing legal challenges to previous debt relief efforts, advocates praise this initiative as essential for aiding troubled borrowers.
Source: YAHOO
Reported about 1 month ago
Private equity firm Blackstone is in advanced negotiations to purchase minority stakes in interstate natural gas pipelines from EQT Corp for approximately $3.5 billion. This deal would assist EQT in reducing its significant debt incurred from its recent acquisition of pipeline operator Equitrans Midstream. If finalized, EQT will maintain operational control of the pipelines, while Blackstone aims to enhance its energy infrastructure portfolio, which includes significant assets like the controversial Mountain Valley Pipeline.
Source: YAHOO
Reported about 1 month ago
Tether's CEO, Paolo Ardoino, stated on October 25, 2024, that there is no indication the company is under investigation, despite a report from the Wall Street Journal suggesting U.S. authorities are looking into potential violations related to sanctions and anti-money laundering. The report claims that investigations are focusing on whether Tether has been used for illegal activities like drug trafficking and terrorism. Tether has faced scrutiny for years regarding potential bank fraud and is reportedly under consideration for sanctions by the Treasury Department.
Source: YAHOO
Reported about 1 month ago
Chinese hackers compromised Verizon's systems, targeting phones used by individuals connected to Kamala Harris' campaign, as well as those associated with Donald Trump and JD Vance. Investigations are underway to assess the data potentially accessed from these devices. Although the Trump campaign was informed of the breach, they did not confirm the specific targeting of their phones. The situation has raised concerns about foreign cyber interference in U.S. elections.
Source: YAHOO
Reported about 1 month ago
Bank of Canada Governor Tiff Macklem stated that the federal government's decision to reduce immigration targets will have a modest effect on economic growth but limited impact on inflation. While the decrease in population growth may slow GDP growth due to fewer consumers, it will also contract the labor supply, leaving price pressures largely unchanged. Macklem emphasized that the inflation forecast remains unaffected by population growth changes, and the central bank has already considered a slowdown in growth in its predictions.
Source: YAHOO
Reported about 1 month ago
In San Francisco, municipal-bond bankers are optimistic despite Citigroup's recent exit from the market, thanks to a surge in new state and local government bond sales this year, which have exceeded $423 billion, representing a 40% increase from last year. Industry experts highlight the influx of new regional and minority firms, noting that the market could set a record pace for sales in 2025. While concerns about liquidity persist among borrowers, smaller firms are stepping up to fill the gap left by larger banks.
Source: YAHOO
Reported about 1 month ago
Elon Musk has drastically increased his financial support for the GOP, contributing $56 million in recent donations, bringing his total spending for the year to over $132 million. Despite his significant backing, Kamala Harris's campaign has outperformed Trump’s in small donor contributions, raising $97 million compared to Trump's $16 million in the first half of October. Musk, now the second-largest GOP donor, is intensifying his involvement in the campaign as Election Day approaches, although surveys suggest his association may not be positively influencing all voters.
Source: YAHOO
Reported about 1 month ago
Senior banking executives from the European Union have urged governments to refrain from interfering with bank consolidation efforts, emphasizing the need for a unified financial market to enhance competitiveness. This discussion follows UniCredit's recent move to acquire a stake in Commerzbank amidst concerns from Germany. The executives argue that such decisions should be left to shareholders rather than politicians, who may not fully understand the financial landscape.
Source: YAHOO
Reported about 1 month ago
Nexus Capital Management has been approved as the leading bidder to acquire Big Lots Inc. after securing $765 million in financing aimed at supporting its bid. A federal judge confirmed that this deal, which could still attract higher offers before the deadline on October 28, will help pay down a significant amount of Big Lots' debt and potentially preserve numerous jobs. The situation is part of an effort to revitalize the troubled discount retailer amidst bankruptcy proceedings.
Source: YAHOO
Reported about 1 month ago
At the IMF and World Bank annual meetings in Washington, Managing Director Kristalina Georgieva emphasized the urgent need for governments to enhance their fiscal capacity due to high fiscal pressures, while advising central banks to be cautious and data-driven regarding the timing of interest rate cuts.
Source: YAHOO