Reported about 2 months ago
Libya's presidential council has dismissed the influential central bank governor, Sadiq al-Kabir, and appointed Mohamed Abdul Salam al-Shukri as his replacement. This decision, taken amid the ongoing political turmoil in the oil-rich country, is seen as a move that could further exacerbate tensions between the rival factions controlling different regions of Libya. The council's action has been criticized as illegitimate by the eastern parliament and the Supreme Council of State, who assert that appointments of sovereign body heads should be their prerogative.
Source: YAHOO
Reported about 2 months ago
As the Democratic National Convention unfolds in Chicago, key economic issues are at the forefront, particularly grocery prices and tariffs proposed by Donald Trump. Kamala Harris, who is set to be the party's nominee, emphasizes a populist economic message in her campaign and has recently released a cost-of-living plan addressing housing and grocery expenses. Meanwhile, Trump faces criticism for his tariff strategies, which Democrats argue could burden American families with higher costs. The convention aims to highlight these critical economic themes as the election approaches.
Source: YAHOO
Reported about 2 months ago
July's jobs report indicated a rising unemployment rate, raising recession fears as per the Sahm Rule. However, economist Tiffany Wilding of PIMCO argues that the current economic data, including retail sales and jobless claims, show resilience in the labor market, which may alleviate recession worries. She points to factors like immigration and overall labor market balance that contribute to the unemployment rise. Wilding suggests these insights can help the Federal Reserve adapt its monetary policy moving forward.
Source: YAHOO
Reported about 2 months ago
Alex Karp, CEO of Palantir Technologies, has firmly defended the company's partnerships with military and law enforcement organizations, rejecting calls for apologies amidst criticism. In a recent interview, he emphasized Palantir's consistent pro-Western stance, particularly regarding its support for Ukraine and Israel, while also expressing his backing for President Biden and Vice President Harris. Karp noted the company's significant revenue growth, reporting a 27% increase year-over-year, as Palantir continues to thrive in the AI sector.
Source: YAHOO
Reported about 2 months ago
Goldman Sachs analyst Toshiya Hari reaffirmed a 'conviction buy' rating on Nvidia, with a price target of $135, as the company prepares to release its fiscal second-quarter earnings next week. Despite recent delays associated with Nvidia’s upcoming Blackwell processors, demand from large cloud service providers remains strong. Analysts expect Nvidia to report an adjusted earnings of 64 cents per share and nearly 90% year-over-year revenue growth to $25.6 billion, indicating a positive outlook for the AI-focused company's performance.
Source: YAHOO
Reported about 2 months ago
In a crucial week for Wall Street, Goldman Sachs has cut its recession risk outlook ahead of the Federal Reserve's Jackson Hole Symposium, where insights into potential interest rate cuts will be revealed. Concurrently, retail earnings from major companies like Lowe's, Target, and Ross will highlight consumer focus, while the Democratic National Convention in Chicago will see President Biden and Vice President Kamala Harris address the nation, outlining economic priorities for the upcoming election.
Source: YAHOO
Reported about 2 months ago
US stocks are holding steady after a strong week, as investors await a key speech from Fed Chair Jerome Powell at the Jackson Hole symposium. Futures for the S&P 500 and Dow Jones remained flat near record highs, while the Nasdaq 100 slipped slightly. Confidence in the economy's resilience is leading traders to speculate on potential Federal Reserve rate cuts, with a significant chance of a 0.25% reduction projected for the upcoming meeting.
Source: YAHOO
Reported about 2 months ago
With investment funds pulling back from the copper market, physical buyers are dominating as demand in China and other markets is expected to weaken further. A significant rally earlier in the year, driven by anticipated shortages, has reversed as manufacturing activity remains sluggish, leading to a surplus in stocks and plummeting prices. Analysts project further surpluses in the coming years, with prices potentially falling back towards $8,000 unless global demand picks up significantly.
Source: YAHOO
Reported about 2 months ago
Elderly couples wondering if their $100K IRA can be protected from nursing home expenses should consider Medicaid eligibility requirements, which have strict asset limits that may disqualify them. Options like Medicaid-compliant annuities, home equity, and specialized trusts can help, but they often come with restrictions that can limit access to funds and affect care quality. It's essential to weigh the need for asset protection against the potential impact on healthcare options and quality of life.
Source: YAHOO
Reported about 2 months ago
A rising number of American workers are opting to claim Social Security benefits early, even while continuing to work, driven by economic uncertainties and inflation. Although claiming benefits at age 62 can result in monthly checks being 30% lower than those received at full retirement age, many feel compelled to do so due to circumstances like job insecurity or personal crises. Financial advisors emphasize the importance of understanding the trade-offs before making this decision, especially regarding potential tax implications and the long-term impact on retirement income.
Source: YAHOO
Reported about 2 months ago
Estee Lauder has announced the retirement of long-time CEO Fabrizio Freda as the company forecasts disappointing results for 2025, expecting sales growth to fall short of analysts' expectations. The global beauty market is grappling with reduced demand, particularly in China, prompting a 5% drop in the company's shares. Freda, who has been with Estee since 2008, will stay on until a successor is appointed while the company adapts to economic challenges.
Source: YAHOO
Reported about 2 months ago
Southwest Airlines is gearing up for a confrontation with Elliott Investment Management, which seeks significant changes in the airline's leadership due to concerns over its underperformance. CEO Bob Jordan is rallying support from investors and employees, characterizing Elliott's intentions as hostile. While Southwest acknowledges the need for business improvements, it stands firm against replacing its leadership amid ongoing financial struggles since the pandemic. Analysts express concerns that Elliott's proposed changes might jeopardize the airline's longstanding brand identity.
Source: YAHOO
Reported about 2 months ago
AMD has announced its plan to acquire server manufacturer ZT Systems for $4.9 billion as part of its effort to enhance its portfolio of AI chips and hardware amidst rising competition from Nvidia. The acquisition will be financed with 75% cash and the remainder in stock. With this move, AMD aims to integrate ZT Systems' engineering expertise to accelerate the development and distribution of AI graphics processing units at the scale required by major cloud service providers. The deal is expected to close in the first half of 2025.
Source: YAHOO
Reported about 2 months ago
This article discusses two AI stocks, Super Micro Computer and Tesla, which Wall Street analysts believe have significant upside potential. Super Micro has a chance to rise by 165% as it expands its AI-driven infrastructure, despite recent earnings challenges. Meanwhile, Tesla could see its valuation increase by nearly 366% due to its advancements in autonomous driving technology and strong growth in its energy-storage sector, even as it faces competitive pressures. Investors are encouraged to consider small stakes in these promising companies.
Source: YAHOO
Reported about 2 months ago
Hedge funds have rapidly sold off industrial stocks at the highest levels in five years while continuing to buy energy stocks for the fourth consecutive week, according to a Goldman Sachs report. This shift indicates a strategic bet on an expected economic recovery linked to potential U.S. interest rate cuts. Hedge funds are now heavily invested in oil, gas, and energy supplies, reflecting optimism for these sectors amid broader market changes.
Source: YAHOO
Reported about 2 months ago
Bitcoin has faced significant declines in August, dropping about 10%, while global stocks are rallying back toward record highs. Analysts attribute part of this downturn to the potential sale of seized Bitcoin by the US government, which may exert downward pressure on prices. Contrastingly, the demand for crypto investments appears to be weakening, as reflected by negative funding rates for Bitcoin futures, indicating decreased enthusiasm from traders.
Source: YAHOO
Reported about 2 months ago
The article discusses a diversified portfolio of 12 stocks and ETFs that can generate approximately $10,000 per month in dividend income. It highlights the significance of dividend stocks, especially during economic cycles where interest rates are low, as these stocks generally outperform non-dividend payers. Notable investments mentioned include ZIM Integrated Shipping Services, ARMOUR Residential REIT, and JPMorgan Equity Premium Income ETF, offering varied yields that cater to income-seeking investors.
Source: YAHOO
Reported about 2 months ago
Market strategist Jill Carey Hall highlights two key requirements for a sustainable rally in small-cap stocks: renewed confidence in Federal Reserve rate cuts and evidence of fundamental growth in earnings. While there's been some positive movement in the market, expectations for small-cap earnings recovery remain doubtful, though there are opportunities with undervalued, profitable companies showing signs of recovery.
Source: YAHOO
Reported about 2 months ago
Federal Reserve Chairman Jerome Powell is anticipated to deliver a steadfast message at the Jackson Hole Economic Symposium, emphasizing that while inflation is decreasing, interest rates will likely remain unchanged due to robust economic performance. Dreyfus-Mellon Asset Management's economist Vincent Reinhart characterizes Powell's stance as a form of 'tough love', reinforcing the Fed's commitment to restrictive policies until inflation meets target levels.
Source: YAHOO
Reported about 2 months ago
Peloton Interactive's stock has plummeted 98% since its peak in early 2021, despite the Nasdaq Composite index performing well. Once a pandemic favorite, Peloton's sales have drastically fallen as gyms reopened, leading to significant operational losses. Efforts to revive sales, such as partnering with retailers and enhancing its app, have not yielded positive results. Given its current low P/S ratio and ongoing struggles, it is suggested that investors should avoid buying into this potentially value-trap stock.
Source: YAHOO
Reported about 2 months ago
Taiwan Semiconductor Manufacturing Company (TSMC) is expected to join Nvidia in the trillion-dollar valuation club due to its dominant position in chip fabrication, accounting for about 60% of the foundry market. With significant growth anticipated in AI-related investments from major tech companies, TSMC's advanced manufacturing capabilities and expected revenue increases make it a prime candidate for substantial future expansion. Analysts project TSMC will continue to thrive, benefiting from rising demand and a strong outlook for earnings growth.
Source: YAHOO
Reported about 2 months ago
The Nasdaq Composite has experienced a downturn, dropping 6.5% from its peak, causing many investors to seek buying opportunities. Datadog, an AI-driven cloud monitoring company, has seen its stock fall 39% from its all-time high despite strong fundamentals, with a majority of Wall Street analysts recommending a buy. Datadog's innovative technology is crucial for businesses to prevent downtime and improve efficiency, and its AI segment is rapidly growing, indicating potential for significant future revenue increase. Investors may want to consider buying Datadog stock while it remains undervalued.
Source: YAHOO
Reported about 2 months ago
In a recent interview, real estate mogul Grant Cardone suggested that Florida and Texas might greatly benefit from a Kamala Harris presidency due to their pro-property owner policies. He criticized Harris for imposing stricter regulations and higher taxes in states she influences, arguing that this could push investments towards states with friendlier business environments. Cardone believes the housing situation is worsening across major cities but maintains that Texas and Florida could remain attractive for property owners, despite a cooling housing market.
Source: YAHOO
Reported about 2 months ago
Billionaire hedge fund manager David Tepper bought 5,000 shares of United Parcel Service (UPS) in Q2 2024, increasing his stake, while he sold nearly 10.9% of his shares in Energy Transfer. Tepper's decision seems to reflect a shift toward UPS amid its potential recovery, even as both stocks offer attractive dividend yields. Analysts suggest UPS is a worthy investment for income seekers, while Energy Transfer remains appealing due to its growth and valuation.
Source: YAHOO
Reported about 2 months ago
Warren Buffett and his team at Berkshire Hathaway have recently made significant stock sales, as revealed in their latest Form 13F filing. The report highlights a notable reduction in their holding of Apple by nearly 50%, along with complete divestment from Paramount Global and Snowflake, amidst ongoing concerns over higher corporate tax rates and changing market conditions. Other notable reductions include stakes in Chevron, Capital One Financial, and T-Mobile, among others, reflecting a strategic shift in Buffett's investment approach during the June-ended quarter.
Source: YAHOO