Reported about 2 months ago
On August 26, 2024, the stock market saw flat trading at midday, with the S&P 500 down 0.2% and the Nasdaq Composite losing 0.8%. Notably, PDD Holdings, the parent company of Temu, fell nearly 30% after reporting second-quarter revenue that missed forecasts, while Planet Fitness saw a gain after receiving a favorable analyst upgrade. MIRA Pharmaceuticals surged by 15% due to promising results in neuropathic pain treatment, contrasting with declines in the semiconductor sector where major players like Nvidia experienced losses.
Source: YAHOO
Reported about 2 months ago
Oil prices are rising sharply due to recent geopolitical tensions following an Israeli attack on Hezbollah in Lebanon. In addition, Apple has announced that it will hold its latest iPhone event on September 9, 2024, potentially unveiling the iPhone 16.
Source: YAHOO
Reported about 2 months ago
As Labor Day weekend approaches, travelers should prepare for potential airport disruptions, such as recent IT outages at Seattle-Tacoma International Airport. AAA Travel's Paula Twidale advises travelers to download their airline's app, use FlightAware for tracking flights, arrive early, and consider purchasing travel insurance to cover any unexpected delays or cancellations.
Source: YAHOO
Reported about 2 months ago
During the Labor Day travel period, over 17 million travelers are expected to pass through airports, according to the TSA. AAA Travel's Paula Twidale advises that while airports will be busy with a mix of commuters and travelers, there are still opportunities to save on travel costs by being flexible with flight options, such as considering connecting flights or off-peak hours.
Source: YAHOO
Reported about 2 months ago
As Nvidia prepares to release its second quarter earnings on August 28, market strategist David Boole discusses the implications for the stock and its connection to major market indexes. He highlights that options trading could impact Nvidia’s stock price by nearly 10%, emphasizing its importance as a proxy for the S&P 500. Boole recommends specific trades, suggesting a range between a $115 put and a $140 call due to current market expectations.
Source: YAHOO
Reported about 2 months ago
Oil prices experienced a significant increase, with West Texas Intermediate rising over 3% to $77.42 per barrel and Brent climbing almost 3% to $81.43, fueled by a halt in Libyan oil production due to internal disputes and heightened tensions in the Middle East following Israeli airstrikes against Hezbollah. Experts warn that these tensions could lead to disruptions in global oil supply, despite recent trends showing a decrease in U.S. gasoline prices.
Source: YAHOO
Reported about 2 months ago
Following a recent conference, analysts have adjusted Micron Technology's stock price targets due to flat shipment forecasts for DRAM and NAND memory amid strong AI demand and changing market dynamics. While some firms maintain a buy rating, notable revisions were made, including Needham reducing its target to $140 from $150. Micron's CFO highlighted the company’s strong position in AI-driven products, despite a challenging outlook for non-AI markets.
Source: YAHOO
Reported about 2 months ago
Medical Properties Trust (MPT) has announced a significant 47% reduction in its quarterly dividend, dropping from $0.15 to $0.08, indicating financial struggles and market concerns. This marks a 73% decrease since the start of 2023. Despite selling facilities to manage debt and generate liquidity, the company's stock has plummeted over 75% in five years, leading to downgrades in its credit ratings. Investors should be cautious as MPT navigates these challenges before a potential recovery.
Source: YAHOO
Reported about 2 months ago
Both Donald Trump and Kamala Harris risk inflating the economy again with their proposed policies. Analysts warn that Trump's tariffs and strict immigration measures could lead to higher consumer prices, costing families significantly, while Harris's plans for price controls and help for first-time homebuyers may also inadvertently drive up costs. As both candidates' strategies could spur inflation, the Federal Reserve may need to reconsider its approach to interest rates in response to these risks.
Source: YAHOO
Reported about 2 months ago
In a recent podcast, Suze Orman explained the 'Social Security tax torpedo', which causes retirees to face significant tax implications when they withdraw from traditional retirement accounts. Orman advocates for Roth IRAs, emphasizing that they do not require minimum distributions and withdrawals do not increase taxable income for Social Security benefits. She asserts that prioritizing Roth accounts can help retirees keep more of their Social Security income tax-free, suggesting this strategy could be crucial for effective retirement planning.
Source: YAHOO
Reported about 2 months ago
The National Labor Relations Board (NLRB) found that Chipotle Mexican Grill may have unlawfully withheld raises from its unionized workers in Michigan, prompting a potential formal complaint against the company. Workers at the Lansing location, who unionized in 2022, allege the company wrongfully claimed they were ineligible for pay increases due to their union status. Chipotle had previously settled another case with the NLRB for $240,000 over similar claims.
Source: YAHOO
Reported about 2 months ago
Shares of PDD Holdings fell 28% after the company reported second-quarter revenue growth of 86%, amounting to $13.4 billion, which fell short of expectations of $14.04 billion. Despite impressive earnings per share and margin improvements, management's cautious outlook on intensified competition and potential profitability decline raised concerns among investors, leading to today's significant sell-off.
Source: YAHOO
Reported about 2 months ago
Federal Reserve Chair Jerome Powell has indicated that the central bank is poised to cut interest rates, which could significantly impact investor portfolios and savings. Yahoo Finance expert Kerry Hannon discusses what these rate cuts mean for Americans' financial situations.
Source: YAHOO
Reported about 2 months ago
ExxonMobil projects that global oil demand will remain over 100 million barrels per day until 2050, driven by population growth and increased energy consumption, according to their Global Outlook report.
Source: YAHOO
Reported about 2 months ago
The stock market experienced mixed trading on Monday, with the S&P 500 dropping 0.3% and the Nasdaq down about 0.7%, largely due to falling shares of tech giants like Nvidia, which slipped over 2% ahead of its earnings report. The focus is on Nvidia's upcoming results, pivotal for the sentiment surrounding AI investments, and the potential for interest rate cuts by the Federal Reserve later this year as traders remain cautious. Meanwhile, oil prices rose by around 3% amid geopolitical tensions in the Middle East.
Source: YAHOO
Reported about 2 months ago
In a recent episode of 'Financial Freestyle,' Brandon Copeland, a former NFL player, discusses his financial literacy journey that began during his NFL career and was shaped by his experience on Wall Street. He shares key lessons learned from day trading, including the importance of not letting greed dictate investment decisions and the value of real estate investment, which has contributed to his current portfolio valued at $203 million. Copeland's story highlights the diverse paths to financial education and empowerment.
Source: YAHOO
Reported about 2 months ago
China is significantly boosting its production of legacy chips, which are essential semiconductors with nodes of 28 nanometers or larger. This surge in output has raised alarms in the U.S. about potential flooding of the global market with inexpensive alternatives, which could disrupt the chip industry's pricing and impact national security. Yahoo Finance's Akiko Fujita discusses these implications with experts.
Source: YAHOO
Reported about 2 months ago
This article discusses the upcoming stock splits for the week of August 26 to August 30, including several companies undertaking reverse splits to comply with market requirements. Companies such as BiomX, ESS Tech, BYND Cannasoft, and others, are implementing these splits to improve liquidity and share affordability for retail investors.
Source: YAHOO
Reported about 2 months ago
IBM is set to shut down its research and development operations in China, impacting around 1,000 employees, as reported by the Wall Street Journal.
Source: YAHOO
Reported about 2 months ago
Wall Street anticipates significant movement in US stocks as Nvidia approaches its latest earnings report on August 28. Options trading indicates that Nvidia's stock could swing by 9.9%, impacting nearly $300 billion of its market cap. Analysts suggest a close correlation between Nvidia's performance and broader market reactions, forecasting a potential 1.2% shift in the S&P 500. The outcome could determine investor sentiment across the tech sector and influence stock strategies moving forward.
Source: YAHOO
Reported about 2 months ago
Retiring at 45 with $3 million is feasible, potentially providing an annual income of $120,000 through a safe withdrawal rate, but it requires significant savings discipline. Key challenges include accumulating that wealth, navigating 401(k) withdrawal penalties, securing health insurance before Medicare eligibility, and managing inflation. While retirement can offer more leisure and personal fulfillment, careful financial planning and possibly consulting with a financial advisor are essential to ensure sustainability over the long term.
Source: YAHOO
Reported about 2 months ago
In a recent article, the author explains why they won't be purchasing their next set of tires at Costco. While the store offers quality name-brand tires, the author finds alternatives more suitable due to their low driving frequency and budget constraints. They highlight that Walmart offers a more affordable option that meets their minimal driving needs, making Costco tire prices seem excessive in comparison.
Source: YAHOO
Reported about 2 months ago
Bloomin' Brands, the parent company of popular restaurant chains such as Outback Steakhouse, has announced the appointment of Michael Spanos, the COO of Delta Air Lines, as its new CEO starting this September. Current CEO David Deno will assist in a transitional role until the end of the year. The news has coincided with a decline in Bloomin' Brands' stock price.
Source: YAHOO