Reported about 1 month ago
US Treasuries experienced a significant selloff for the third consecutive day as expectations for Federal Reserve interest rate cuts wane. The benchmark 10-year yield rose to its highest level since July, driven by concerns regarding the bond market and a robust US economy. Meanwhile, speculation regarding the upcoming elections has contributed to rising yields, as traders adjust their rate cut predictions amidst mixed economic signals.
Source: YAHOO
Reported about 1 month ago
Boeing reported a staggering $6.2 billion loss in the third quarter, attributed to increased operational costs from ongoing strikes and past program changes. CEO Kelly Ortberg admitted that trust in the company has diminished, emphasizing the need for a cultural shift, financial stabilization, and improved performance in order to restore the company's reputation and future prospects. Meanwhile, IAM union members are voting on a new contract proposal that includes significant wage increases and bonuses.
Source: YAHOO
Reported about 1 month ago
Investors on Wall Street are anxious ahead of the upcoming earnings reports from Tesla and IBM, as US stocks face pressure. Meanwhile, the chip sector is experiencing significant movements, with Arm Holdings issuing a termination notice to Qualcomm over licensing issues. Taiwan Semiconductor Manufacturing Company has denied US investigation claims involving Huawei, and Nvidia's CEO announced that a design flaw in the latest AI chips has been resolved.
Source: YAHOO
Reported about 1 month ago
Apple introduces ChatGPT integration and Visual Intelligence in its latest developer beta for iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2. This initiative allows Siri to access ChatGPT for enhanced responses while ensuring user privacy. Visual Intelligence offers features like scanning for information, summarizing text, and generating real-time data from the camera. Additionally, the new Writing Tools help users enhance their text and create unique images using AI. With these updates, Apple aims to entice customers to upgrade, as it prepares for the next major sales cycle.
Source: YAHOO
Reported about 1 month ago
Starbucks' preliminary earnings reveal sharp declines in both revenue and same-store sales in the US and China, with traffic numbers described as the worst ever recorded, even surpassing those seen during the 2008 Financial Crisis, according to analyst Peter Saleh. Concerns about customer engagement and marketing strategies are highlighted as potential areas for improvement as the company prepares for its upcoming official earnings announcement.
Source: YAHOO
Reported about 1 month ago
Kurt Reiman from UBS Global Wealth Management advises investors to prepare for increased market volatility surrounding the upcoming election. He suggests avoiding large portfolio changes but recommends considering tactical adjustments such as investing in gold, which serves as a hedge against volatility, and the utilities sector, which can benefit from rising AI demand. With a potentially contested election outcome that may take weeks to determine, making more measured investment decisions can help insulate portfolios during this uncertain period.
Source: YAHOO
Reported about 1 month ago
American Airlines has been fined $50 million by the federal government after an investigation revealed multiple violations of regulations protecting disabled passengers, particularly those who use wheelchairs. The findings showed the airline mishandled and damaged thousands of wheelchairs and failed to provide adequate assistance, prompting Transport Secretary Pete Buttigieg to emphasize the end of tolerating such poor treatment. The fine requires American Airlines to invest $25 million to improve wheelchair handling and infrastructure.
Source: YAHOO
Reported about 1 month ago
The article discusses three major mistakes that could hinder the Democratic Party in the upcoming 2024 presidential election. These include the influence of Bernie Sanders' progressive policies, recent actions against fossil fuels, and the handling of immigration policies under President Biden. It highlights how these decisions have alienated moderate voters and questions whether Vice President Kamala Harris can regain their support while maintaining her base.
Source: YAHOO
Reported about 1 month ago
As the US presidential election approaches, the housing market is facing challenges with existing home sales dropping to a 14-year low due to high mortgage rates. Expert Jeff Taylor discusses how the policies proposed by candidates Kamala Harris and Donald Trump could influence the market, particularly in providing assistance for homebuyers and maintaining tax incentives. While he predicts increased housing activity in 2025 regardless of the election outcome, Taylor emphasizes the need for greater supply and lower interest rates to ensure long-term stability and affordability in the housing sector.
Source: YAHOO
Reported about 1 month ago
The US Treasury market is experiencing rising risks as the term premium on 10-year Treasury notes climbs significantly, reflecting investors’ concerns over economic conditions and political factors. The term premium, which measures the extra yield for holding long-term debt instead of rolling over shorter-term securities, has increased to its highest level since last November. This increase is attributed to a combination of factors, including inflation pressures, a tight presidential race, and potential fiscal challenges, contributing to a bearish sentiment in the bond market.
Source: YAHOO
Reported about 1 month ago
Defined contribution plans, such as 401(k)s, may not offer sufficient retirement security compared to traditional pension plans, especially as people live longer. Experts argue that insufficient savings can lead to a risk of running out of money in retirement, with early poor market returns posing a threat to financial stability. Unlike defined contribution plans, pensions provide predictable income, crucial for long-term financial security.
Source: YAHOO
Reported about 1 month ago
Amidst the uncertainty of the Federal Reserve's interest rate plans, F/m Investments senior portfolio manager Pete Baden argues that it is a 'great time' to enter the bond market. He suggests that upcoming rate cuts present a 'second opportunity' for investors to secure favorable yields. Baden highlights the relative safety of US Treasury Bonds, advocating that they provide a refuge during economic downturns, while advising caution with high-yield corporate bonds in a struggling economy.
Source: YAHOO
Reported about 1 month ago
Oil prices fell over 1% on Wednesday as US inventory data revealed a substantial increase in crude stockpiles, contrary to expectations. West Texas Intermediate settled at $70.77 while Brent closed at $74.96 per barrel. The rise in US inventories, along with easing concerns over Middle East conflicts, contributed to the price drop, following a previous 4% increase. Traders are now focusing on potential oversupply issues in light of upcoming production changes by OPEC and its allies.
Source: YAHOO
Reported about 1 month ago
Source: BARRONS
Reported about 1 month ago
As Medicare's open enrollment begins, there's a growing call for candidates to prioritize this crucial healthcare program in their campaigns. Experts, including Yahoo Finance's Janna Herron, highlight significant challenges for Medicare, such as funding sustainability and escalating costs, urging candidates like Kamala Harris and Donald Trump to present clear strategies for reform if elected.
Source: YAHOO
Reported about 1 month ago
JPMorgan CEO Jamie Dimon is reportedly contemplating a position in the Harris administration, according to a New York Times report. During a discussion on Yahoo Finance, expert Bill Cohan commented on Dimon's neutral political stance and expressed skepticism about his ability to influence voter support for Kamala Harris, highlighting the polarized nature of the current political landscape.
Source: YAHOO
Reported about 1 month ago
The CDC is currently investigating an E. coli outbreak linked to McDonald's Quarter Pounders, prompting the fast-food giant to remove affected items from its menu. Despite a 10% drop in stock following the news, analyst Peter Saleh suggests that the situation is more contained than Chipotle's past outbreaks. McDonald's efforts to mitigate the fallout depend on limiting further consumer illnesses and restoring confidence in their food safety.
Source: YAHOO
Reported about 1 month ago
Jennifer Lopez and Ben Affleck's luxurious Beverly Hills estate, listed at $68 million, has been on the market for over 100 days without a buyer. Real estate experts suggest this delay is typical for high-end properties, which often remain unsold for six months or more. Having purchased the mansion for $60.8 million and invested significantly in renovations, the couple may face hefty losses if the property sells for the projected $58-60 million, alongside a mansion tax of over $3 million.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs and Apple have been ordered to pay $89.8 million by the Consumer Financial Protection Bureau (CFPB) for failing to meet their legal obligations to Apple Card customers. The CFPB revealed that Apple did not properly forward consumer disputes to Goldman Sachs, and Goldman failed to meet federal investigation requirements. As part of the total penalties, Goldman will pay $64.8 million while Apple will contribute $25 million, with the regulator also taking measures to restrict Goldman's future credit card offerings.
Source: YAHOO
Reported about 1 month ago
The article discusses the significant wage disparities faced by LGBTQ+ individuals, revealing that only 1 in 25 LGBTQ+ men hold high-paying jobs compared to their non-LGBTQ+ counterparts. In a recent episode of 'Living Not So Fabulously,' hosts David and John Auten-Schneider interview financial adviser Ari Linder, who explains why LGBTQ+ workers often choose careers focused on social good at the expense of financial stability. Linder emphasizes the importance of understanding the unique challenges within the community, advocating for financial planning as a path to freedom and empowerment.
Source: YAHOO
Reported about 1 month ago
Boeing has reported significant losses totaling $3 billion in its aerospace and defense sectors for 2024, including a $6.17 billion net loss for the third quarter alone. As NASA increasingly relies on SpaceX for astronaut transportation to the International Space Station, Boeing's Starliner program faces delays due to mechanical issues, raising concerns about its competitiveness in the space industry.
Source: YAHOO
Reported about 1 month ago
As Americans vote early, experts predict a divided government regardless of who wins the presidency in 2025, which may limit the new administration's ability to implement policies. Kurt Reiman from UBS notes that while the next president will inherit a strong economy, high deficits and potential conflicts within party lines will create challenges.
Source: YAHOO
Reported about 1 month ago
Shares of Trump Media & Technology Group (DJT) have surged by 12% over the past two trading sessions, fueled by growing investor speculation regarding Donald Trump's potential success in the upcoming presidential election. This increase occurs alongside employee complaints about workplace concerns and mismanagement within the company.
Source: YAHOO
Reported about 1 month ago
Existing home sales in September dropped to their lowest level since 2010, with a decline of 1% from August, totaling a seasonally adjusted annual rate of 3.84 million. Despite lower mortgage rates, potential buyers are hesitant to enter the market due to high home prices and uncertainty surrounding the upcoming elections. With a 3.5% decrease in year-over-year sales and first-time buyers making up only 26% of transactions, experts predict that sales for the year may remain below last year's figures.
Source: YAHOO
Reported about 1 month ago
Recent data reveals that existing home sales have fallen to 3.84 million units in September, marking a 14-year low and falling short of projections. Economists emphasize that high interest rates are exerting downward pressure on the housing market, which remains 'frozen' and marked by low affordability. However, there is cautious optimism for a recovery in 2025 as pressures on the housing market may begin to ease, despite concerns regarding elevated market valuations and slowing economic growth.
Source: YAHOO