Reported about 1 month ago
WisdomTree Asset Management has agreed to pay $4 million to settle SEC charges for misleadingly marketing funds as environmentally friendly while they actually invested in fossil fuels and tobacco companies. This settlement highlights the SEC's ongoing efforts to combat 'greenwashing' in the investment management industry.
Source: YAHOO
Reported about 1 month ago
Federal Reserve Bank of Kansas City President Jeffrey Schmid has expressed a preference for a slower pace of interest rate reductions, highlighting the need for caution given the uncertain economic landscape. In his recent remarks, he emphasized the importance of achieving a more normalized policy cycle through modest adjustments to support sustainable economic growth and stability, while also considering potential impacts on financial market volatility. Schmid's approach aligns with sentiments from other Fed officials advocating for gradual, rather than aggressive, rate cuts as the economy continues to evolve.
Source: YAHOO
Reported about 1 month ago
United Parcel Service (UPS) has received an unusual sell recommendation from Barclays due to declining earnings expectations and increasing competitive pressures from Amazon and FedEx. Analyst Brandon Oglenski downgraded UPS, indicating that reduced parcel demand and a potential shrinking relationship with Amazon pose short- and long-term risks for the company. Following this downgrade, UPS shares fell 3.4%, continuing a challenging year for the company marked by a 16% stock price decline.
Source: YAHOO
Reported about 1 month ago
WisdomTree Asset Management has agreed to pay $4 million to the SEC for failing to adhere to its commitment of providing exchange-traded funds that excluded fossil fuels and tobacco investments. The funds, marketed from March 2020 to November 2022, included companies involved in coal mining and tobacco retail, violating their stated environmental, social, and governance (ESG) principles. While WisdomTree did not admit or deny the SEC's findings, they acknowledged deficiencies in their screening process. The affected funds were liquidated in February and averaged $119 million in assets during their existence.
Source: YAHOO
Reported about 1 month ago
Citi Research has increased its three-month gold price outlook to $2,800 per ounce from $2,700, attributing this to potential U.S. labor market declines, possible Federal Reserve interest rate cuts, and increased physical and ETF buying. The bank's 6 to 12-month forecast also sees gold prices reaching $3,000. Despite weakening demand from China and rising U.S. interest rates, gold has performed exceptionally well, with prices surging due to uncertainties surrounding the U.S. presidential election and tensions in the Middle East.
Source: YAHOO
Reported about 1 month ago
Grupo Argos and Grupo SURA, two leading Colombian conglomerates, have begun studying potential alternatives for their closely intertwined ownership structures. Shareholders have approved the assessment, allowing the companies to explore new corporate arrangements without conflicts of interest. This move follows recent market actions from rival Grupo Gilinski, highlighting the necessity for change within the organizations.
Source: YAHOO
Reported about 1 month ago
Walmart's mandate requiring corporate employees to relocate to its headquarters in Arkansas has led to the resignation of Cheryl Ainoa, the chief technology officer of Sam’s Club. Ainoa, who has been with the company for nearly five years, chose not to move to Bentonville to retain her job. This controversial policy has already led to layoffs and has impacted many employees, as Walmart aims to centralize its workforce.
Source: YAHOO
Reported about 1 month ago
During the ongoing third quarter earnings season, Fidelity's Jurrien Timmer emphasizes that election volatility should not be a primary concern for investors. While the market recently faced a decline following the strong rally of major tech stocks, Timmer reassures that current market conditions are more stable compared to the 1990s. He notes that the performance of most S&P 500 stocks remains positive, suggesting a less concentrated and more resilient market. Furthermore, he indicates that while election outcomes can influence markets, they have minimal impact over a complete four-year cycle.
Source: YAHOO
Reported about 1 month ago
General Motors (GM) is scheduled to release its third-quarter earnings report on October 22, with CFO Paul Jacobson set to discuss the results in an interview with Yahoo Finance. Additionally, GE Aerospace and Lockheed Martin will also report quarterly results, and commentary from Federal Reserve Bank of Philadelphia President Patrick Harker will be available on Tuesday morning.
Source: YAHOO
Reported about 1 month ago
Olivia Nuzzi has split from New York Magazine after it was revealed that she had a personal relationship with a political source while covering the 2024 campaign. Despite an internal review finding no evidence of bias or inaccuracy in her reporting, both Nuzzi and the magazine agreed that parting ways was the best decision. Nuzzi expressed regret for not disclosing the relationship sooner.
Source: YAHOO
Reported about 1 month ago
On October 21, 2024, Bitcoin surged past $69,000 but subsequently corrected to around $67,510 due to market volatility. This initial spike may have been influenced by macroeconomic factors, including the potential return of former President Donald Trump in the 2024 U.S. elections, which historically boosts Bitcoin confidence. Despite concerns from some investors about the sharp decline, analysts suggest that this behavior is typical for the cryptocurrency market, with overheating and technical resistance likely contributing to the drop. Many experts remain optimistic about Bitcoin's long-term prospects, citing support levels and potential for future gains.
Source: YAHOO
Reported about 1 month ago
Disney plans to appoint a successor to interim CEO Bob Iger by early 2026, as Iger's contract expires at the end of that year. The company has appointed former Morgan Stanley CEO James Gorman as the board chairman starting January 2025. Iger intends to mentor the new CEO, ensuring a successful transition after his previous forced return to leadership.
Source: YAHOO
Reported about 1 month ago
As many Americans face difficulties paying off credit, auto, and commercial real estate debts, major U.S. banks are ramping up their loan loss reserves. With past-due credit card debt exceeding pre-pandemic levels and rising auto loan delinquencies, financial institutions like Wells Fargo and Bank of America are bracing for increased bad loans driven by high interest rates and ongoing economic pressures. While banks remain stable overall, rising delinquencies, particularly among low-income consumers, could signal deeper financial strains if economic conditions worsen.
Source: YAHOO
Reported about 1 month ago
Federal Reserve officials emphasized a cautious approach to interest rate reductions, suggesting that any cuts should be gradual and modest to allow time for assessment of economic conditions. Kansas City Fed president Jeff Schmid and Minneapolis Fed president Neel Kashkari highlighted the importance of a deliberate strategy to mitigate job market risks and inflation uncertainties. The Fed recently cut rates for the first time in over four years, with expectations of further modest cuts in the coming months.
Source: YAHOO
Reported about 1 month ago
Kansas City Fed President Jeffrey Schmid emphasized a cautious and gradual approach to interest rate cuts as inflation nears the Fed's 2% target and the labor market stabilizes. He advocates for measured adjustments to avoid unnecessary market volatility, indicating that the current policy may not be overly restrictive. Schmid noted strong economic growth and healthy consumer spending, suggesting that any future rate reductions should be carefully evaluated to ensure they do not destabilize financial markets.
Source: YAHOO
Reported about 1 month ago
The benchmark diesel price saw its largest weekly decline this year, dropping 7.8 cents to $3.553 per gallon, reversing a four-week upward trend. This shift was influenced by market movements alleviating fears of military escalation between Iran and Israel, despite ongoing speculation surrounding the potential impact on oil production and exports. Analysts indicate that while demand for oil continues, supply factors suggest a stable market, with expectations for future oil demand growth to remain subdued.
Source: YAHOO
Reported about 1 month ago
As 2024 nears its end, down payment assistance (DPA) programs are expanding to support first-time homebuyers, with a recent report showing a total of 2,444 programs across the U.S. This marks a 1.2% increase from the previous quarter and an 8% increase year-over-year, with California leading in program availability. On average, first-time buyers can expect around $17,000 in assistance, which is critical for overcoming the hurdle of saving for a down payment.
Source: YAHOO
Reported about 1 month ago
After decades of low interest rates, the Bank of Japan's recent hikes are leading an increasing number of zombie companies—firms unable to sustain debt payments—to the brink of bankruptcy. Over 5,000 bankruptcies were reported between April and September, with many of these companies relying on government support to survive. This shift may pave the way for healthier businesses, as Japan grapples with a labor shortage and an economy in need of revitalization.
Source: YAHOO
Reported about 1 month ago
Tesla is set to release its Q3 earnings report on October 23, and investor interest is high due to the company's recent performance. Analysts are keen to see specific plans related to affordable electric vehicles under $30,000 and long-term developments in the Cybercab initiative. This report follows a period where Tesla's delivery numbers and a robotaxi event have not significantly impacted stock performance.
Source: YAHOO
Reported about 1 month ago
The F3: Future of Freight Festival will take place from November 19-21 in Chattanooga, Tennessee, gathering over 1,500 industry leaders. Attendees can expect keynotes from notable speakers, including J.B. Hunt CEO Shelley Simpson and engaging Rapid-Fire Demos showcasing the latest in freight technology. The festival will also host networking events, including a party featuring live music by Stone Temple Pilots.
Source: YAHOO
Reported about 1 month ago
McDonald's has agreed to host former President Donald Trump at a Pennsylvania restaurant, but clarified that it does not endorse any candidates in the presidential race. The company's franchisee facilitated Trump's visit, emphasizing that McDonald's values inclusivity. The event sparked mixed reactions, including calls for a boycott, yet marketing experts suggest the publicity generated may ultimately benefit the brand.
Source: YAHOO
Reported about 1 month ago
In a surprising political move, Elon Musk has pledged to donate $1 million each day to Donald Trump's voters to help gather support for his campaign. This comes as competition heats up in the presidential race, with Vice President Kamala Harris raising a record $1 billion in campaign funds. Yahoo Finance discusses the ongoing financial battle between the candidates.
Source: YAHOO
Reported about 1 month ago
Blackstone and Apollo Global Management are increasingly targeting investment-grade loans, moving beyond their traditional focus on distressed debt. Blackstone has grown its investment-grade private credit assets significantly to over $90 billion, while Apollo's 'high grade capital solutions' has originated around $100 billion in recent years. With insurers seeking yield from private markets, both firms aim to capture more market share from traditional banks, offering businesses flexible lending options at competitive rates.
Source: YAHOO
Reported about 1 month ago
In a recent discussion, Emily Roland from John Hancock Investment Management highlighted the current bond market's attractiveness amidst rising Treasury yields and diminishing equity returns. She cautioned that investors often make the mistake of holding cash during interest rate-easing cycles instead of investing in bonds, suggesting that now may be the best time to pivot towards bonds for competitive returns, especially since bond rates currently outpace market earnings and dividend yields.
Source: YAHOO
Reported about 1 month ago
Netflix's stock reached an all-time high of over $772 following strong third-quarter earnings that exceeded Wall Street's expectations. While analysts praise the company's diverse revenue streams, including a successful ad-supported tier and measures against password sharing, concerns about its high valuation and slower revenue growth forecast for 2025 persist. Investors hope for imminent price hikes to fuel stock momentum.
Source: YAHOO