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
Reported about 2 months ago
US stocks saw gains on Monday, with the S&P 500 and Nasdaq poised for their eighth consecutive winning session, driven by optimism ahead of Fed Chair Jerome Powell's upcoming speech at the Jackson Hole Economic Symposium. Investors are hopeful for indications on potential interest rate cuts after a week of strong market performance raised confidence about economic stability.
Source: YAHOO
Reported about 2 months ago
Attorneys General from nearly 30 U.S. states are pursuing treble damages against Live Nation and its subsidiary Ticketmaster, alleging monopoly practices that inflate concert ticket prices and harm both artists and consumers. The updated lawsuit follows a May initiative aimed at dismantling Live Nation's influence in the live music industry. New York AG Letitia James emphasized the need to protect fans from corporate exploitation in the concert sector. Live Nation, which oversees a significant share of concert promotions and ticketing, plans to contest the claims in court.
Source: YAHOO
Reported about 2 months ago
In a recent speech in North Carolina, Vice President Kamala Harris outlined her economic agenda, emphasizing the need to combat price gouging on food. This term refers to the practice of increasing prices significantly during times of crisis or scarcity. Yahoo Finance reporter Madison Mills discusses the implications of price gouging and the role of supply and demand in determining consumer prices.
Source: YAHOO
Reported about 2 months ago
Over 77% of American households carry debt, prompting financial coach Bernadette Joy to share her 3-part budget strategy on Wealth!. She divides her budget into 'strive', 'revive', and 'survive', suggesting that half of the budget cater to necessities, with the other half split between enjoyable spending and debt repayment. Joy emphasizes viewing all debt as equal and recommends the 'debt snowball' method, where individuals pay off their smallest debts first.
Source: YAHOO
Reported about 2 months ago
In light of the recent tech stock sell-offs, retail investors are actively seeking buying opportunities, especially in semiconductor stocks, signaling a 'buy the dip' mentality. Stephanie Guild from Robinhood emphasizes a long-term perspective among investors, considering not only immediate trends but future potential over the next two decades. Additionally, retail traders are responding to the inclusion of cryptocurrency trading on Robinhood as the 2024 presidential election approaches.
Source: YAHOO
Reported about 2 months ago
UBS analysts expect gold prices to climb to $2,600 per ounce by the end of 2024, driven by potential market volatility risks. The discussion on this bullish forecast was hosted by Seana Smith and Madison Mills, who explored the factors that could trigger this rally.
Source: YAHOO
Reported about 2 months ago
Vice President Harris recently unveiled her economic agenda, projecting a $1.7 trillion increase in the national deficit over the next decade, focusing on her first 100 days if elected. Tax expert John Gimigliano highlights the 'stealth part' of her plan: a commitment to not raise taxes for those earning under $400,000, effectively continuing previous tax policies and preventing scheduled increases that could amount to $4 trillion next year.
Source: YAHOO
Reported about 2 months ago
Billionaire investor Carl Icahn and Icahn Enterprises have settled with the U.S. SEC, agreeing to pay $2 million for failing to disclose that he pledged a majority of the firm's securities as collateral for personal margin loans. This settlement follows accusations from Hindenburg Research of improper financial practices. Although Icahn did not admit wrongdoing, he claimed the allegations were baseless and stated the investigation found no support for the more serious claims against him.
Source: YAHOO
Reported about 2 months ago
Goldman Sachs Chief Economist Jan Hatzius has decreased the likelihood of a recession within the next year from 25% to 20%, citing encouraging retail sales, reduced jobless claims, and robust second-quarter earnings. He anticipates a further cut to 15% if August job reports are favorable. This reduction supports the forecast of modest rate cuts by the Federal Reserve, with expectations of a 25 basis point cut in September and additional cuts in November and December.
Source: YAHOO
Reported about 2 months ago
Source: INVESTORS
Reported about 2 months ago
Following a recent shakeup at JPMorgan Chase, CEO Jamie Dimon has reshuffled the executive team, potentially undermining Daniel Pinto, the bank's president and former frontrunner for CEO. Dimon's appointments of loyalists to key positions, alongside the exit of Pinto's ally, has led to speculation about Pinto's future at the bank, where he is facing diminished influence despite a strong financial incentive to stay until 2026.
Source: YAHOO
Reported about 2 months ago
Despite Starbucks' recent leadership changes boosting its stock, billionaire investors are increasingly turning their focus to Dutch Bros Coffee. Investment firms such as Blackrock and Point72 have significantly increased their stakes in the rising coffee chain known for its friendly service and lower prices. Dutch Bros reported a 30% revenue increase year-over-year and a second consecutive quarter of profit, establishing itself as a viable long-term investment despite market pressures.
Source: YAHOO
Reported about 2 months ago
According to Evercore ISI analyst David Palmer, McDonald's is poised for a comeback with an improvement in US market share prospects for 2025, aided by recent successful promotions like limited-edition collector's cups. Despite the chain experiencing a dip in foot traffic and same-store sales earlier this year, Palmer anticipates that strategic menu updates and improved value messaging will restore customer interest over the next decade. Challenges such as increasing competition and shifts in consumer preferences towards healthier dining options remain, yet Palmer sees significant growth potential driven by initiatives focused on chicken sales and value offerings.
Source: YAHOO
Reported about 2 months ago
Last week's significant data breach at National Public Data compromised the Social Security numbers and other personal data of billions of Americans. To find out if your Social Security number was part of the breach, visit npd.pentester.com, enter your information, and check the list of affected accounts. If your number is included, it's crucial to monitor your financial accounts, set up credit monitoring, and consider a fraud alert or credit freeze to protect your identity.
Source: YAHOO
Reported about 2 months ago
Despite some concerns about a slowing US economy, corporate America is discussing recession less than it has in three years. From mid-June to mid-August, only 28 S&P 500 companies mentioned recession during earnings calls, significantly below historical averages. Economists suggest that the lack of mention indicates confidence in future earnings, even as consumer spending shows mixed signals amidst a cooling economy. Recent data has led Goldman Sachs to lower the likelihood of a recession in the coming year to 20%, reflecting resilience in consumer behavior and earnings growth for many companies.
Source: YAHOO
Reported about 2 months ago
Recent data reveals that the average net worth of American households has exceeded $1 million, primarily influenced by a small percentage of extremely wealthy households. However, the median net worth is significantly lower at $192,900, providing a clearer picture of typical financial realities. Factors such as homeownership and age greatly affect net worth, with homeowners averaging $1.53 million in net worth. Understanding and improving personal financial strategies can aid in wealth accumulation.
Source: YAHOO
Reported about 2 months ago
The stock market is experiencing its longest winning streak, with eight consecutive days of gains, marking a significant recovery since 2003. However, experts are raising concerns about the sustainability of this rally following recent volatility in August. Brian Sozzi of Yahoo Finance discusses insights from strategists and economists regarding the potential fragility of the current market surge.
Source: YAHOO
Reported about 2 months ago
Billionaire Carl Icahn and his company, Icahn Enterprises, have reached a settlement with U.S. regulators for failing to disclose personal loans secured by company securities. The Securities and Exchange Commission (SEC) charged Icahn with not reporting pledges of Icahn Enterprises' securities, which were used as collateral for loans worth billions. As part of the settlement, Icahn will pay a total of $2 million in civil penalties while neither party admits to wrongdoing. This resolution comes amid scrutiny following claims of inflated asset valuations at Icahn Enterprises.
Source: YAHOO
Reported about 2 months ago
HP Inc.'s stock price has dropped following Morgan Stanley's downgrade from Overweight to Equal-Weight, with analysts expressing concerns over valuation related to the recovery of the PC market.
Source: YAHOO
Reported about 2 months ago
Before becoming a billionaire and 'Shark Tank' star, Mark Cuban practiced extreme frugality, choosing to drive old cars costing under $200 and living on macaroni and cheese. Inspired by the book 'Cashing in on the American Dream,' he aimed to save $1 million for an early retirement, emphasizing the importance of living within one's means and investing wisely. Cuban's journey highlights that financial discipline can lead to significant wealth-building.
Source: YAHOO
Reported about 2 months ago
McDonald's shares are experiencing an upward trend after Evercore ISI analysts increased their price target to $320 per share. Analysts express optimism about the company's performance amid the current consumer landscape.
Source: YAHOO
Reported about 2 months ago
The Democratic National Convention (DNC) starts in Chicago this week, where President Biden will hand over the spotlight to Vice President Kamala Harris. Experts suggest that while Harris may benefit from the convention's coverage, she is unlikely to delve deeply into her policies, focusing instead on creating a positive image and addressing economic concerns, particularly around food and housing prices.
Source: YAHOO
Reported about 2 months ago
The Jackson Hole Economic Symposium is set to begin, where Federal Reserve Chair Jerome Powell's speech on August 23 is expected to provide insights into potential interest rate cuts. Economists anticipate a hint towards a 25-basis-point rate cut in September, although Powell might remain vague about future cuts. Analysts warn that if Powell's speech does not indicate any easing, market volatility might increase, leading investors to take a more conservative approach.
Source: YAHOO