Reported about 2 months ago
As inflation shows signs of cooling, investors should consider focusing on high-quality assets with robust balance sheets instead of high-risk investments. Emily Roland from John Hancock Investment Management emphasizes the importance of finding companies that can maintain strong margins as profit growth slows down. While mega-cap tech appears to be a promising area, it's crucial for investors to remain cautious in this shifting economic environment.
Source: YAHOO
Reported about 2 months ago
Optimism among Democrats regarding Vice President Kamala Harris's presidential prospects has led to a slight increase in U.S. consumer sentiment, rising from 66.4 in July to 67.8 this month, according to the University of Michigan's index. While expectations for the future improved, current economic assessments dipped slightly. Notably, a higher percentage of consumers now view Harris as the superior economic candidate compared to Republican nominee Donald Trump. Despite lingering concerns over inflation and overall low sentiment levels historically, consumer spending has remained strong, contributing to economic growth.
Source: YAHOO
Reported about 2 months ago
Germany's ruling coalition has reached a final agreement on the draft budget for next year, which will be sent to parliament for review. After weeks of disputes over financing, Chancellor Olaf Scholz's administration has outlined a budget plan featuring net new borrowing of €51.5 billion, maintaining compliance with constitutional limits. Despite facing a projected financing gap of €12 billion, the coalition hopes to bridge this through stronger economic growth and tax revenues.
Source: YAHOO
Reported about 2 months ago
In a recent discussion, economist Tiffany Wilding emphasized the importance of careful communication by the Federal Reserve regarding its interest rate decisions, as current economic indicators do not point to a recession. Following the July jobs report and initial jobless claims, there are concerns about rising unemployment; however, Wilding noted that this is driven by improved labor supply rather than job losses. As the economy stabilizes post-pandemic, she advised against aggressive interest rate cuts, suggesting the Fed should maintain a positive outlook on economic performance.
Source: YAHOO
Reported about 2 months ago
Bryant Riley, co-founder and majority shareholder of B. Riley Financial, has informally proposed to purchase the remaining shares of the struggling investment firm at $7 each, representing a nearly 40% premium over the recent closing price. This bid is contingent upon approval from independent directors and shareholders, as the firm faces significant challenges including a suspended dividend and an SEC investigation. Riley emphasized his commitment to maintaining financial disclosures and transparency amid the ongoing scrutiny.
Source: YAHOO
Reported about 2 months ago
Vice President Kamala Harris will outline her economic strategy in Raleigh, N.C., aiming to address pressing issues for American families such as housing costs and grocery prices. Her plan includes proposals for a first-time homebuyer credit of $25,000, a federal ban on food price gouging, and efforts to cap insulin costs. While the campaign seeks to maintain momentum ahead of the Democratic National Convention, the plan faces early criticism for lacking detail in several key areas, and opposition from former President Donald Trump, who dismisses it as inadequate.
Source: YAHOO
Reported about 2 months ago
Bayer's stock rose significantly after a US appeals court sided with the company regarding Roundup's cancer claims. Meanwhile, Bank of America downgraded Estée Lauder due to consumer challenges in China and the US, while H&R Block's shares soared after exceeding fourth-quarter earnings expectations.
Source: YAHOO
Reported about 2 months ago
The preliminary reading of the University of Michigan Consumer Sentiment Index for August shows an increase to 67.8, surpassing expectations of 66.9 and rising from July's 66.4. The current economic conditions rating decreased to 60.9 from 62.7, while the expectations index rose to 72.1 from 68.8.
Source: YAHOO
Reported about 2 months ago
In early August, US consumer sentiment increased to 67.8 from 66.4 in July, marking its first rise in five months. This uptick was fueled by optimism regarding personal finances and election dynamics, particularly following President Biden's announcement not to seek re-election. Despite this increase, concerns about inflation and borrowing costs persist, with many consumers continuing to rely on credit and savings for spending.
Source: YAHOO
Reported about 2 months ago
Hunter Point Capital is in the process of raising $425 million through a new investment vehicle, which will be backed by its existing fund. This initiative aims to provide cash returns to investors by issuing notes linked to its Hunter Point Capital Fund I, which holds interests in various private equity firms. With the current slow pace of deal-making, private equity firms are increasingly seeking alternative capital sources to facilitate payouts to investors.
Source: YAHOO
Reported about 2 months ago
In August 2024, U.S. consumer sentiment rose to 67.8, buoyed by political developments, particularly the Democratic Party's nomination of Kamala Harris following Joe Biden's withdrawal from the presidential race. While sentiment among Democrats increased significantly, Republican sentiment fell to its lowest since last November. Despite these shifts in political dynamics, inflation expectations remained steady, with one-year inflation projected at 2.9% and five-year expectations at 3.0%.
Source: YAHOO
Reported about 2 months ago
Real estate mogul Grant Cardone suggests potential homebuyers should postpone their purchases until the Federal Reserve lowers interest rates to 4%. He believes that this drop would motivate sellers to reduce home prices, making buying more accessible. However, current rates exceed this target significantly, and despite his advice, many face challenges in the housing market due to rising prices and strict lending standards.
Source: YAHOO
Reported about 2 months ago
Toscafund Asset Management has hired Ryan Squillante as the new head of its North America operations, aiming to leverage the anticipated rise in equity capital markets. Previously associated with Irving Investors, Squillante brings significant experience to the role. The London-based firm has also expanded its team by hiring two additional portfolio managers to further enhance its market presence as it prepares for an influx of IPOs and secondary offerings expected in the coming months.
Source: YAHOO
Reported about 2 months ago
Greece and Turkey are battling severe wildfires fueled by soaring temperatures reaching 42C (108F) and strong winds from the Aegean Sea. Key regions like Athens, Attica, Peloponnese, and several islands are at high risk, prompting evacuations in areas like Panagia and nearby border regions. Both countries are grappling with the increasing frequency and intensity of such extreme weather events due to climate change, with Turkey also struggling to manage fires near Izmir. The plight of local communities and ongoing firefighting efforts underscore the severe impact of this summer's heatwave.
Source: YAHOO
Reported about 2 months ago
According to a recent survey by the University of Michigan, US consumer sentiment has seen a slight increase this month, largely driven by improved optimism among Democratic respondents.
Source: YAHOO
Reported about 2 months ago
The latest housing starts report reveals a significant decline in privately owned housing starts, dropping 6.8% from June and 16% from the previous year, with single-family units taking the most hit. However, housing completions showed a slight increase, raising concern for long-term market dynamics despite more inventory potentially easing immediate housing shortages. The number of building permits also fell, indicating a slowdown in construction activity ahead.
Source: YAHOO
Reported about 2 months ago
Following Cisco's recent earnings report that exceeded expectations, analysts have adjusted their stock price targets. While some firms express renewed optimism, raising their targets—such as New Street to $57—others remain cautious, citing challenges like high inventory levels. Cisco's focus on AI-related growth and stable customer demand contributed to a notable rise in its shares, reflecting positive shifts in its business outlook.
Source: YAHOO
Reported about 2 months ago
Edgar Bronfman Jr., currently the chairperson of FuboTV and former CEO of Warner Music Group, is reportedly preparing an offer for Paramount Global and its parent company, National Amusements, according to the Wall Street Journal. This development could have significant implications for Paramount's future.
Source: YAHOO
Reported about 2 months ago
In the week leading up to August 14, US equity funds faced substantial withdrawals totaling $8.92 billion, marking the largest outflow since June 12. This trend reflects investor caution amid ongoing economic slowdown fears and market volatility, as funds shifted towards safer options like money markets and government bonds, which saw inflows of $16.1 billion and $3.35 billion, respectively. Notably, US large-cap equity funds saw $6.08 billion in outflows, while bond funds continued to attract investment.
Source: YAHOO
Reported about 2 months ago
The US Department of Commerce has awarded Texas Instruments (TXN) up to $1.6 billion in grants to construct semiconductor manufacturing facilities in Texas and Utah. The total investment for the project is projected to reach $18 billion by 2029, marking a significant commitment in the competitive semiconductor industry.
Source: YAHOO
Reported about 2 months ago
Stocks saw a slight decline as trading began on Friday, with major indices opening below their previous flatlines. The technology sector, however, is leading a rally within the Nasdaq Composite and S&P 500 as analysts discuss market movements and volatility levels.
Source: YAHOO
Reported about 2 months ago
Canada's housing starts unexpectedly surged to an annualized rate of 279,509 units in July, the highest level since June 2023 and surpassing economists' expectations of 245,000 units. This 15.7% monthly increase was primarily seen in multi-unit buildings, particularly driven by construction in Ontario, where starts rose 59%. Despite this positive momentum and government efforts to improve affordability, housing starts remain below levels seen in 2021 and 2022, and Canada still faces a significant housing shortage.
Source: YAHOO
Reported about 2 months ago
The Nasdaq Composite and S&P 500 are rebounding following downward pressures on tech stocks earlier in August, with significant gains seen in major firms like Nvidia. Yahoo Finance's Josh Schafer discusses why this resurgence is happening and whether investors should consider re-entering the tech sector, as it leads the market rally.
Source: YAHOO
Reported about 2 months ago
Billionaire investor Bill Ackman has acquired 3 million shares of Nike, worth $229 million, after a significant dip in the company's stock, which fell nearly 30% in the first half of 2024. This move follows a history of successful investments by Ackman in Nike, despite the company's recent struggle with sales leading to substantial financial revisions and changes in analyst ratings.
Source: YAHOO
Reported about 2 months ago
Stock futures are showing a decline as the market prepares for Friday's opening, following a Thursday rally driven by strong retail sales and lower jobless claims. The tech sector is a key player in this rebound, especially with Nvidia's significant gains. Meanwhile, Vice President Kamala Harris is set to discuss her economic agenda, focusing on reducing inflation and essential costs for consumers.
Source: YAHOO