Reported about 2 months ago
Nvidia has seen a significant recovery of over 30% since the early August tech sell-off, leading a broader rally in the tech sector. As more companies begin to outperform the S&P 500, the summer rally appears to be expanding, with prominent players like the Magnificent Seven at the forefront. Yahoo Finance reporter Josh Schafer analyzes this trend in the context of the current market dynamics.
Source: YAHOO
Reported about 2 months ago
Recent gold price rallies point to potential recession fears, as experts note growing interest in gold among investors ahead of expected Federal Reserve rate cuts. According to Chris Mancini from Gabelli Funds, central banks, especially in China, are maintaining strong demand, but the primary driver of the gold price increase comes from significant ETF purchases linked to falling interest rates.
Source: YAHOO
Reported about 2 months ago
Retail earnings present a mixed picture of consumer behavior, with major retailers like Target and Walmart exceeding expectations, indicating strong demand, while companies like Macy's disappoint, highlighting potential weakness in discretionary spending. Yahoo Finance's Brooke DiPalma discusses various factors influencing spending patterns.
Source: YAHOO
Reported about 2 months ago
The business sector is pushing back against the Federal Trade Commission (FTC) following a federal judge's decision to block a controversial ban on non-compete agreements. This ban was challenged by the U.S. Chamber of Commerce and led to additional legal battles, including Kroger's lawsuit arguing the FTC's merger challenges lack constitutional authority. The developments highlight a tense standoff as the FTC aims to curb perceived anti-competitive practices, while businesses seek to protect their contractual rights and decision-making autonomy.
Source: YAHOO
Reported about 2 months ago
Divers searching the wreckage of the superyacht Bayesian, which sank off Sicily during a storm, have recovered four bodies, while two people remain missing. The yacht capsized rapidly after being struck by a suspected waterspout. Investigators are looking into the circumstances surrounding the fast sinking as rescue efforts continue in challenging underwater conditions.
Source: YAHOO
Reported about 2 months ago
Analyst Oliver Chen from TD Cowen noted that while Target's recent Q2 earnings exceeded expectations, consumer behavior remains inconsistent as they seek value amidst inflationary pressures. Chen, maintaining a Hold rating on Target, expressed cautious optimism about improvements in target sectors like apparel but emphasized the need for ongoing stability in consumer spending to fully endorse the stock. He highlighted the contrasting performance in the retail sector, underscoring the importance of value for success in the current market.
Source: YAHOO
Reported about 2 months ago
Toll Brothers (TOL) shares surged on Wednesday after exceeding fiscal Q3 earnings expectations and raising full-year guidance. Conversely, La-Z-Boy (LZB) stock dipped despite also surpassing earnings estimates, attributing the decline to reduced consumer spending. Additionally, podcast host Alex Cooper has signed a lucrative $125 million multi-year deal with Sirius XM, transitioning from Spotify.
Source: YAHOO
Reported about 2 months ago
In August 2024, market volatility peaked, but has since eased as tech stocks drove a recovery in equities. Keith Lerner, Truist's Co-Chief Investment Officer, noted that the recent market pullback aligns with historical patterns, suggesting up to three potential corrections by year's end, but reaffirmed that the overall trend remains bullish.
Source: YAHOO
Reported about 2 months ago
Target and Macy's are feeling the impact of decreased consumer spending, with Target reporting better-than-expected earnings but cautious full-year guidance, while Macy's sales fell short of estimates. Target's growth can be attributed to price reductions and discount initiatives, but the overall pressure on consumers is evident, particularly affecting Macy's, which saw a significant decline in same-store sales.
Source: YAHOO
Reported about 2 months ago
Mark Reuss, GM's president, shared insights on Cadillac's evolving electric vehicle strategy, emphasizing the launch of the Opulent Velocity concept at Monterey Car Week. He indicated a shift from a strict 2030 full electrification plan to offering diverse powertrain options based on market demand. Reuss also highlighted strong sales of the Cadillac Lyriq and discussed the exciting development behind the new Corvette ZR1.
Source: YAHOO
Reported about 2 months ago
Rescue crews are actively involved in the recovery operations off the coast of Sicily, where they have begun unloading body bags from vessels searching for those lost in the sinking of a superyacht.
Source: YAHOO
Reported about 2 months ago
Ford is revamping its electric vehicle strategy by canceling the launch of a large, three-row electric SUV and delaying its next-generation electric truck to 2027. The company will focus on more affordable EVs and hybrid technology for larger models, and it plans to introduce new pickup trucks and a commercial van in the coming years. These changes are part of a broader effort to address high EV costs while pushing back $12 billion in related spending.
Source: YAHOO
Reported about 2 months ago
Ford is delaying the development of its electric vehicle plant and has decided to cancel the production of a new three-row electric SUV. This decision will result in significant losses for the company, which is also adjusting its timeline for electric truck productions.
Source: YAHOO
Reported about 2 months ago
Bitcoin's price is currently consolidating near past highs, but historical cycles suggest that the bull run is far from over. With significant whale accumulation and rising global liquidity, institutional confidence is growing. Furthermore, the increasing adoption of Bitcoin by major hedge funds, combined with a potential weakening of the U.S. dollar, indicates a robust environment for a price surge in the coming months.
Source: YAHOO
Reported about 2 months ago
Argentina is set to join a US-led initiative aimed at attracting investments in critical minerals like copper and lithium, as it seeks to create supply chains independent of China. The announcement will come during a visit by US Under Secretary of State Jose Fernandez, with Argentina looking to capitalize on its vast resources. The Minerals Security Partnership currently includes 14 countries and the EU, focused on enhancing investment opportunities while adhering to strict environmental standards.
Source: YAHOO
Reported about 2 months ago
Peabody Energy Corp.'s shares jumped over 7% after Thomist Capital Management LP revealed a 9.96% ownership stake and recommended the coal company use part of its $1.45 billion cash to repurchase shares and optimize asset value. The stock rose to $24.22 following this announcement, coinciding with a merger between Arch Resources Inc. and Consol Energy Inc.
Source: YAHOO
Reported about 2 months ago
TJX Companies' shares rose significantly following the release of its second quarter earnings, which exceeded analysts' expectations on both revenue and profits. Additionally, the retailer, which owns TJ Maxx and HomeGoods, raised its profit forecast for the year.
Source: YAHOO
Reported about 2 months ago
Lucid Motors CEO Peter Rawlinson announced that customers are pre-ordering the new Lucid Gravity SUV, which he believes has a market potential six times larger than the Lucid Air sedan. He claimed that Lucid has taken over from Tesla in terms of technology, asserting that Tesla has become distracted.
Source: YAHOO
Reported about 2 months ago
U.S. stocks, including the S&P 500, opened higher on Wednesday, pushing the index back above 5,600, following a slightly down session the previous day. Investors are looking ahead to comments from Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium on Friday, amid recent market volatility.
Source: YAHOO
Reported about 2 months ago
The National Highway Traffic Safety Administration (NHTSA) has announced that Tesla will recall more than 9,000 Model X SUVs because of a potential issue with a roof trim piece that may separate and pose a crash risk.
Source: YAHOO
Reported about 2 months ago
US stocks saw a slight uptick as the S&P 500 and Nasdaq Composite rose by approximately 0.2% ahead of the Federal Reserve's minutes release and upcoming employment data expected to influence interest rate decisions. Notable earnings reports from retailers Target and Macy's had mixed impacts on investor sentiment, with Target's strong performance leading to a sharp rise in its shares while Macy's faced a decline. Market participants remain cautious in anticipation of potential rate cuts, particularly after Jerome Powell's upcoming speech at the Jackson Hole symposium.
Source: YAHOO
Reported about 2 months ago
Former President Barack Obama and First Lady Michelle Obama rallied support for Kamala Harris at the Democratic National Convention, highlighting the potential for increased enthusiasm among donors and voters, as analyzed by Yahoo Finance expert Rick Newman. The convention continues with speeches from notable figures including Bill Clinton and Nancy Pelosi.
Source: YAHOO
Reported about 2 months ago
Occidental Petroleum's stock has fallen to $56.17, a price point that typically prompts major purchases from Warren Buffett's Berkshire Hathaway. However, the firm has remained below this threshold all month, raising questions about Buffett's strategy and whether he will increase his nearly 30% stake, worth $16.1 billion. The decline is compounded by external pressures, including stock sales by former shareholders.
Source: YAHOO
Reported about 2 months ago
Traditional expectations around who pays for weddings are evolving, with many modern couples taking on the majority of expenses themselves. As the average age of first-time brides and grooms rises, the dynamics of wedding funding are shifting, leading to candid discussions about finances between couples and their families. While historically, it's been common for brides' families to bear most costs, today it can vary widely, influenced by personal preferences, cultural norms, and financial situations.
Source: YAHOO
Reported about 2 months ago
In a significant update from Wall Street analysts, American Express (AXP) has been downgraded to Neutral by BofA, citing challenges in the spending environment despite a favorable long-term view. Conversely, Texas Instruments (TXN) received a Buy upgrade from Citi due to expectations of margin recovery and substantial earnings growth potential. Other notable upgrades include Corning (GLW) and Consensus Cloud Solutions (CCSI), while downgrades also affected companies like Cogent (CCOI) and Triumph Group (TGI).
Source: YAHOO