Reported about 2 months ago
Monterey Car Week concluded with a historic win for a 1934 Bugatti Type 59 Sports, marking the first preservation class vehicle to receive Best of Show at Pebble Beach. While the event attracted over 80,000 attendees and showcased new luxury vehicles from brands like Lamborghini and Lincoln, the auction market underperformed, falling to $370.8 million, down 8% from the previous year. This suggests a potential correction in the classic car market amidst growing trends in customization and bespoke vehicles.
Source: YAHOO
Reported about 2 months ago
Shares of Zim Integrated Shipping Services experienced a notable rise after the company reported its second-quarter earnings, significantly exceeding expectations with a revenue of $1.93 billion and an adjusted earnings per share of $3.08. Market analysts, including Josh Lipton and Julie Hyman, discuss the implications of these results for the company's future.
Source: YAHOO
Reported about 2 months ago
In light of upcoming Federal Reserve discussions, LPL Financial's Quincy Krosby highlights the critical role of labor data revisions in shaping the Fed's policy. As investors await potential rate cuts, Krosby emphasizes that any inaccuracies in payroll data between April 2023 and March 2024 could significantly alter Chairman Jerome Powell's approach to the labor market, suggesting that the perception of a strong job market may need reevaluation.
Source: YAHOO
Reported about 2 months ago
Kroger has filed a lawsuit against the U.S. Federal Trade Commission (FTC), arguing that the regulator's in-house review of its $25 billion merger with Albertsons is unconstitutional. Kroger contends that the case should be heard in federal court instead, and its chairman stated that the company is ready to defend the merger in an appropriate venue. The FTC has expressed concerns that the merger would lead to higher prices for consumers and impact labor market conditions.
Source: YAHOO
Reported about 2 months ago
A recent survey from the Federal Reserve Bank of New York reveals increasing anxiety among Americans about job security, with job satisfaction, wage contentment, and benefits satisfaction all declining in July. The average expected likelihood of unemployment has reached a record high of 4.4%. Despite these concerns, job offer activity remains steady, and the average 'reservation wage' — the minimum wage one would accept — has risen significantly since 2020, although much of this increase is attributed to inflation. While job growth has slowed, especially with only 114,000 jobs added in July, economists suggest this doesn't point to an imminent recession.
Source: YAHOO
Reported about 2 months ago
This article discusses strategies to earn dividends over 6% while diversifying an investment portfolio. It highlights the advantages of diversified real estate investment trusts (REITs) and private credit funds, underlining that while these investments carry risks, they can potentially provide higher returns compared to single-sector REITs. The focus on W.P. Carey as a strong diversified REIT and the Arrived Homes Private Credit Fund as a low-minimum option showcases viable avenues for investors seeking income and diversification.
Source: YAHOO
Reported about 2 months ago
In a recent interview, Palantir Technologies CEO Alex Karp attributed the rise of Donald Trump to the excesses and disconnect of Silicon Valley elites from everyday Americans. He criticized the tech industry's accountability and divisive content, asserting that the Trump phenomenon would not exist without these contributions from the tech community.
Source: YAHOO
Reported about 2 months ago
Beginning August 17, 2024, new rules from the National Association of Realtors (NAR) change how real estate commissions are structured, requiring buyers to enter a representation agreement with agents before touring homes and banning sellers from advertising commission rates. These changes aim to empower consumers and create a more competitive market, although some experts warn they may initially discourage buyers due to potential out-of-pocket costs for agent fees.
Source: YAHOO
Reported about 2 months ago
Goldman Sachs' chief economist, Jan Hatzius, has lowered the probability of a U.S. recession in the next year from 25% to 20%, citing improved economic data and strong corporate earnings. Following a weak jobs report earlier this month, Hatzius' new stance reflects optimism as key metrics, including services sector activity and retail sales, have shown resilience. This shift in outlook suggests the Federal Reserve may only implement a 25 basis point rate cut in September instead of a more aggressive 50 basis points.
Source: YAHOO
Reported about 2 months ago
The two largest railroad companies in Canada, Canadian National and Canadian Pacific, plan to halt operations if an agreement with their unionized workers isn't reached soon, potentially leading to billions in economic losses. With a lockout notice in place affecting over 9,000 employees, industries relying on rail transport, like agriculture and chemicals, are bracing for disruptions from a nationwide work stoppage that could impact grain movements and food security.
Source: YAHOO
Reported about 2 months ago
The S&P 500, Nasdaq, and Dow are maintaining last week's gains as investors await comments from Fed Chair Jerome Powell at the upcoming Jackson Hole meeting. In the tech sector, Advanced Micro Devices (AMD) is making headlines with its $4.9 billion acquisition of ZT Systems, fueling its stock rise. The Democratic National Convention is also set to begin, featuring President Biden and Vice President Kamala Harris.
Source: YAHOO
Reported about 2 months ago
This week, the focus will be on Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium, which could indicate future interest rate cuts. Additionally, several major retailers—including Lowe's, Target, and Macy's—are set to announce quarterly earnings, and the Democratic National Convention will highlight Vice President Kamala Harris's economic agenda.
Source: YAHOO
Reported about 2 months ago
The FAFSA (Free Application for Federal Student Aid) online system continues to experience disruptions, delaying financial aid package distribution for students, crucial for their college funding this fall. Jennifer Finetti from ScholarshipOwl advises students to not rely solely on FAFSA, as upcoming applications will also be delayed, and encourages exploring other financial avenues.
Source: YAHOO
Reported about 2 months ago
Lowe's is expected to report a sales decline in its upcoming fiscal second quarter earnings, echoing Home Depot's disappointing results. Analysts predict a 4% drop in revenue to $23.9 billion and a 13% decrease in adjusted earnings per share. This decline marks the seventh consecutive quarter of reduced sales for Lowe's, attributed to consumer hesitance regarding home improvement amidst economic uncertainties and rising costs.
Source: YAHOO
Reported about 2 months ago
Howard Capital Management's Vance Howard warns traders to brace for a market pullback after a strong week of gains, suggesting that after several days of upward movement, a three- to four-day decline is typical. While he maintains a bullish outlook, he advises traders to consider scaling out of positions before re-entering and encourages long-term investors to remain steadfast. Howard also highlights opportunities in the real estate sector and recommends focusing on fundamentals or investing in ETFs to mitigate risk.
Source: YAHOO
Reported about 2 months ago
The Church of Jesus Christ of Latter-day Saints, managing a $55 billion investment portfolio, recently disclosed its top holdings, which now include Broadcom, a notable AI stock. This portfolio, operated through Ensign Peak Advisors, has faced scrutiny over its tax-exempt status while largely operating like a hedge fund. Other significant holdings include major technology companies like Microsoft, Nvidia, and Apple.
Source: YAHOO
Reported about 2 months ago
A recent survey indicates that 58% of Americans believe the country is facing a retirement crisis. However, experts like David Blanchett argue that the situation may not be as dire as it seems, pointing out the overall financial well-being of retirees thanks to social security and pension systems. He emphasizes the importance of investing in diversified portfolios and maintaining high savings rates to ensure a secure retirement.
Source: YAHOO
Reported about 2 months ago
For the first time, gold bars are valued at over one million dollars, a milestone reached as gold's spot price surpassed $2,500 per troy ounce. Typically weighing around 400 ounces, a standard gold bar's price reflects the current market surge and significant purchases from central banks. With increasing demand and market dynamics, gold continues to establish its value in the financial landscape.
Source: YAHOO
Reported about 2 months ago
Donald Trump's social media company, Trump Media & Technology, has seen its stock prices fall to the lowest levels since going public in March. The shares plummeted by as much as 3.5% during recent trading, marking a 36% decline in just the past month, largely due to weak quarterly results and increased volatility. The platform, Truth Social, was launched post-presidency in 2022 and operates similarly to Twitter. The stock's performance has drawn comparisons to 'meme stocks' influenced by the sentiment of Trump's supporters.
Source: YAHOO
Reported about 2 months ago
Redfin has revealed that real estate investors are increasingly buying homes, with a 3% rise in investor purchases year-over-year during the second quarter, totaling $43 billion. Investors, particularly favoring single-family homes, are capitalizing on strong demand from renters despite challenging affordability for traditional buyers. Notably, San Jose and Las Vegas have seen significant investor activity, with many buying lower-priced homes as an income-generating strategy. With only 5% of investor sales resulting in a loss, the current market continues to offer healthy returns for real estate investors.
Source: YAHOO
Reported about 2 months ago
During recent campaign events, Vice President Kamala Harris and former President Donald Trump presented their economic policies, raising questions about their potential effects on the U.S. economy. Goldman Sachs chief economist Jan Hatzius discussed how Trump's possible return could lead to increased tariffs and inflation, while Harris's policies might restore higher taxes on affluent earners, aligning closely with President Biden's agenda. The implications of these proposals will be explored further at the upcoming Democratic National Convention.
Source: YAHOO
Reported about 2 months ago
GLP-1 weight-loss medications, such as Novo Nordisk's Ozempic, are contributing to an increase in health insurance costs. Yahoo Finance's Senior Health Reporter, Anjalee Khemlani, discusses the reasons behind this rise and what to expect for insurance premiums in 2025.
Source: YAHOO
Reported about 2 months ago
A recent Realtor.com report indicates that renting is currently more affordable than buying in all 50 major metropolitan areas in the U.S. Senior economist Ralph McLaughlin emphasized that this marks the 12th consecutive month of year-over-year rent decreases, particularly notable in pricey markets on the West Coast and Texas. Although rents have decreased by nearly 1.5%, some cities like New York and Birmingham show a narrowing gap in prices, potentially prompting more buyers to enter the market if mortgage rates decrease in the coming months.
Source: YAHOO
Reported about 2 months ago
A recent Redfin report indicates that nearly one in ten homes in the United States is now valued at over $1 million, marking a significant trend in rising housing prices across more than 100 towns. Housing reporter Dani Romero discusses the implications of this trend on the overall housing market.
Source: YAHOO
Reported about 2 months ago
US stocks experienced gains on Monday, following their strongest week in a year, with the Dow Jones rising by over 200 points and the S&P 500 on track for its longest winning streak of 2024. Investors are eagerly awaiting Fed Chair Jerome Powell's speech at the Jackson Hole Economic Symposium, which could influence future interest rate cuts. Market sentiment improved as fears of a recession eased, bolstered by positive economic data. Additional retail earnings, including reports from Lowe's and Target, are anticipated, providing further insights into consumer health.
Source: YAHOO