Reported about 2 months ago
As earnings season continues, investors should pay attention to quarterly results from major retail companies such as Target, TJX Companies, and Macy's, which will offer insights into consumer trends. In addition, the release of the Federal Reserve's July FOMC meeting minutes will shed light on interest rate expectations. Important housing and labor market data, including Mortgage Applications and payroll revisions, are also set to be released.
Source: YAHOO
Reported about 2 months ago
Investors are closely monitoring impending payroll revisions from the Bureau of Labor Statistics, which could significantly alter Wall Street's understanding of job data from the past year. Expert Julie Hyman discusses the implications of these revisions and how they may affect market trends.
Source: YAHOO
Reported about 2 months ago
Waymo's self-driving taxi service has reached a significant milestone by doubling its paid rides to 100,000 per week within just three months. The expansion of services to cities like Los Angeles, San Francisco, and Phoenix comes alongside an additional $5 billion investment from parent company Alphabet into their autonomous driving initiatives.
Source: YAHOO
Reported about 2 months ago
As traders await interest rate decisions from Thailand and Indonesia, markets are currently in a phase of consolidation. With the Federal Reserve's potential rate cuts on the horizon, U.S. Treasury yields are declining, and the dollar weakens. Both Thailand and Indonesia are expected to hold their rates steady, despite inflation and growth pressures, while Asian currencies exhibit some recovery against the dollar.
Source: YAHOO
Reported about 2 months ago
A federal judge in Texas has blocked a Federal Trade Commission (FTC) rule aimed at banning noncompete agreements signed by workers, stating that the FTC lacks the authority to impose such a sweeping prohibition. The judge criticized the FTC for not providing sufficient evidence to justify the ban on nearly all noncompete agreements, labeling the rule as arbitrary. The decision comes after a temporary hold in July while review was ongoing, with the FTC indicating it may consider an appeal.
Source: YAHOO
Reported about 2 months ago
Keysight Technologies reported its third-quarter results, exceeding revenue and profit estimates, driven by higher order volumes. Despite a year-on-year revenue decline, the company generated $1.22 billion, surpassing analyst expectations. Orders rose slightly to $1.25 billion from the previous year, and Keysight's adjusted profit per share was $1.57, beating estimates of $1.54. Looking ahead, Keysight anticipates continued growth in the second half of the year.
Source: YAHOO
Reported about 2 months ago
Sunrun, a solar energy and battery storage provider, has achieved a milestone of 1 million household customers, making it a leader in the industry. CEO Mary Powell attributes the company's success to its adaptability in response to rising interest rates and increasing utility costs. Despite challenges faced by the broader solar market, Sunrun has expanded its offerings to include battery storage and electric vehicle charging, positioning itself strongly in the evolving clean energy landscape.
Source: YAHOO
Reported about 2 months ago
A new study reveals that an increasing number of sports bettors are tapping into their brokerage accounts to fund their gambling habits, often withdrawing twice as much as they invest in sports betting. BYU finance professor Jason Kotter highlights that this trend could severely impact long-term savings, particularly for financially constrained households. He notes that the trend is widespread across various brokerage platforms including Robinhood and Vanguard.
Source: YAHOO
Reported about 2 months ago
As the trading day ends, Yahoo Finance's Jared Blikre highlights key market trends, focusing on leading and lagging sectors, meme stock activity, and a notable rise in gold prices reaching record highs. For in-depth analysis, viewers are encouraged to watch the full segment.
Source: YAHOO
Reported about 2 months ago
Toll Brothers has raised its profit margin expectations for the fiscal year as falling mortgage rates boost demand for luxury homes. The company aims to deliver between 10,650 and 10,750 homes in the year, while anticipating a gross margin of 28.3% on home sales. Despite a slight decline in purchase contracts compared to analyst expectations, the firm remains optimistic about continuous demand driven by favorable market conditions.
Source: YAHOO
Reported about 2 months ago
Jack Henry forecasts a higher profit for fiscal 2025 than analysts expected, driven by strong demand for its financial technology services despite economic uncertainty. The company's CEO highlighted record revenue and operating income for fiscal year 2024, with a projected profit per share between $5.78 and $5.87, exceeding the anticipated $5.76. For the April-June period, revenue grew 4.7% to $559.9 million, with notable increases in processing and service revenue.
Source: YAHOO
Reported about 2 months ago
Following a sharp rally bringing stocks close to all-time highs, the equity markets faced a decline amidst signs of overexuberance. The S&P 500 saw substantial gains over a short period, but a surge in bullish sentiment has led analysts to caution against potential market corrections. Key indicators like a drop in equity valuations and upcoming Federal Reserve signals on interest rate cuts add to the uncertainty. Market experts warn that the current momentum could set the stage for a tech-driven pullback as the market enters a volatile period.
Source: YAHOO
Reported about 2 months ago
West Virginia Governor Jim Justice is fighting to prevent the foreclosure of his renowned Greenbrier Hotel as he runs for the U.S. Senate. The hotel is set to be auctioned off next week due to unpaid debts, and about 400 employees risk losing their health coverage unless $2.4 million in owed contributions are paid. Justice's family has not contributed to employee health funds for four months, raising concerns among health care providers and union officials regarding the jeopardy of workers' benefits.
Source: YAHOO
Reported about 2 months ago
Kenan Advantage Group (KAG) has acquired TransVac, a Louisiana-based bulk tank hauler that specializes in transporting chemicals and petroleum products. This acquisition enhances KAG's operations in Louisiana and Arkansas, adding a specialized fleet and storage capabilities. TransVac comes with a qualified workforce, all drivers being hazmat-certified, further strengthening KAG's position as the largest tank trucking company in North America.
Source: YAHOO
Reported about 2 months ago
After a tragic yacht accident off the coast of Sicily, British entrepreneur Mike Lynch and five other passengers are feared dead. The search efforts by the Italian coast guard, which included military assistance, have been hampered by challenging conditions. Lynch, recently acquitted of fraud charges, was celebrating with family and friends when the yacht was struck by a tornado. While the rescue operations have concluded, officials continue to investigate the incident.
Source: YAHOO
Reported about 2 months ago
Warner Bros Discovery announced a planned investment of at least $8.5 billion to build a new production facility in Las Vegas, contingent on receiving tax incentives from the state. The studio, in partnership with the University of Nevada, Las Vegas and Birtcher Development, will feature comprehensive film and television production capabilities on a 34-acre campus at the Harry Reid Research and Technology Park, addressing the rising production costs facing the industry.
Source: YAHOO
Reported about 2 months ago
Elon Musk's acquisition of Twitter has been deemed a potentially disastrous leveraged buyout for banks, reminiscent of the pre-Lehman Brothers crisis era. The $44 billion deal, which relied significantly on borrowed funds, has now left investment banks struggling to offload associated debt due to unfavorable market conditions and Twitter's poor financial performance. As Musk faces mounting pressure to restructure the debt, concerns are rising among Tesla shareholders about the potential impact on Tesla's stock as Musk may be forced to sell shares to cover Twitter's financial issues.
Source: YAHOO
Reported about 2 months ago
Wells Fargo has appointed Fadi Aboosh, previously a managing director at TD Securities, as a managing director in its financial sponsors group, focusing on infrastructure funds. Aboosh, who joined TD in 2011, will be based in New York under the guidance of Malcolm Price, the head of financial sponsors at the bank. This move is part of Wells Fargo's strategy to enhance its corporate and investment banking capabilities.
Source: YAHOO
Reported about 2 months ago
The industrial sector is diverse and has recently faced challenges, including a 0.6% decline in production due to Hurricane Beryl. Brian Sponheimer of Gabelli Funds emphasizes that different industries within the sector, such as energy, aerospace, and AI, have thrived while areas like mining and machinery have lagged. He suggests that companies like Deere & Co. and CNH Industrial present attractive investment opportunities amid these varying market conditions.
Source: YAHOO
Reported about 2 months ago
Emerging-market assets showed a mixed performance with some currencies gaining while others lost ground as global risk appetite diminished before the Federal Reserve's Jackson Hole meeting. The Indonesian rupiah and Hungarian forint performed well, but the Brazilian real and Mexican peso declined significantly. Investors are anticipating potential interest rate cuts from the Fed, while the overall climate appears cautious following recent highs in global risk indicators.
Source: YAHOO
Reported about 2 months ago
In South Florida, an increasing number of seniors are 'unretiring' due to high living costs, with over 25% of seniors in Fort Lauderdale still working. This trend reflects a national pattern, as many older Americans face affordable housing issues and rising expenses that make supplementing retirement income necessary. Although some seek social interaction through work, economic necessity remains the primary motivator.
Source: YAHOO
Reported about 2 months ago
Eli Lilly's shares have surged following a study revealing that its weight-loss drug tirzepatide reduces diabetes risk by 94%. This promising result is opening new market opportunities for the drug, with analysts predicting potential uses in Alzheimer's treatment as well. Mizuho strategist Jared Holz highlights that the findings could lead to widespread adoption of the drug, further boosting its market prospects.
Source: YAHOO
Reported about 2 months ago
Edgar Bronfman Jr. has officially proposed a $4.3 billion bid for Paramount Global, seeking to take control from the Redstone family and counter an existing agreement with Skydance Media. His plan includes purchasing National Amusements for $2.4 billion, along with a $1.5 billion investment to reduce Paramount's debt. In his strategy, Bronfman aims to eliminate Paramount's dual-class shareholder structure, providing better terms for non-Redstone investors. The bid comes as Paramount faces challenges adapting to the shift towards streaming.
Source: YAHOO
Reported about 2 months ago
The dollar is experiencing a slump, leading to increases in other major currencies, notably the euro and British pound, which have reached their highest levels for 2024. This decline, attributed to speculation regarding potential interest rate cuts by the Federal Reserve, has pushed the euro to approximately $1.1130 and the pound to $1.3052, while also resulting in gains for the Swiss franc. Traders are closely monitoring forthcoming economic indications from Federal Reserve officials during an annual symposium.
Source: YAHOO
Reported about 2 months ago
The stock market saw a retreat on Tuesday, ending an 8-day winning streak as the S&P 500, Dow Jones, and Nasdaq all closed in the red. Investors are now focused on Fed Chair Jerome Powell's upcoming speech at Jackson Hole this Friday, which could hint at a potential September rate cut. The market response follows recent positive economic indicators, but declines in some sectors, including Lowe's, raise concerns about consumer demand.
Source: YAHOO