Reported about 2 months ago
JD.com, the Hong Kong-listed Chinese e-commerce giant, is projected to see its shares rise by 6.5% after reporting quarterly profits that exceeded forecasts, largely attributed to effective price cuts that attracted budget-conscious consumers.
Source: YAHOO
Reported about 2 months ago
New York City Mayor Eric Adams has been subpoenaed as part of a corruption investigation led by the Justice Department, which reportedly examines potential illegal foreign contributions to his campaign, particularly linked to the Turkish government. Adams's legal team claims they are cooperating with the investigation and have found no evidence of wrongdoing, while additional subpoenas have also targeted City Hall and Adams's election committee.
Source: YAHOO
Reported about 2 months ago
Oil prices experienced slight declines in early Asian trading but are still on track for a second consecutive weekly gain, driven by positive economic data from the US that eased recession fears. Brent crude futures dropped to $80.88 per barrel, while West Texas Intermediate fell to $77.93 per barrel. The optimism stems from strong retail sales and a decrease in unemployment claims in the US, although market focus will now shift to geopolitical tensions and fundamental demand signals, especially with mixed indications from the US and China.
Source: YAHOO
Reported about 2 months ago
The US dollar remained near a two-week high against the yen, boosted by robust economic data that alleviated recession fears. Retail sales rose by 1.0%, exceeding forecasts, while unemployment claims were lower than expected. The dollar index slightly eased but followed a significant rally, and analysts suggest a 'soft landing' for the economy, with traders anticipating potential Federal Reserve rate cuts.
Source: YAHOO
Reported about 2 months ago
Oil markets steadied at the end of a volatile week, trading near $81 for Brent crude, backed by strong U.S. retail sales and job data. This stability came despite ongoing concerns regarding Iranian threats to Israel and a sluggish demand outlook from China. The market showed signs of resilience with a bullish backwardated structure in Brent contracts as global geopolitical tensions linger.
Source: YAHOO
Reported about 2 months ago
A yen-focused carry trade, which previously caused market turmoil, is regaining traction as hedge funds and other investors return to borrowing yen to invest in higher-yielding assets. Following a drop in the yen's value against the dollar and recent economic data, interest in carry trades has surged, with many traders betting on a further weakening of the currency. The dynamic is influenced by potential actions from the Bank of Japan on interest rates and Federal Reserve policies, making the strategy appealing even amid concerns from past volatility.
Source: YAHOO
Reported about 2 months ago
In a surprising turn of events, Singapore's non-oil domestic exports climbed by 15.7% year-on-year in July, significantly surpassing the 1.2% increase anticipated by analysts. This growth follows a revised decline of 8.8% in June. The increase was driven by robust electronics and non-electronics exports, with notable gains in shipments to Malaysia, the United States, and China.
Source: YAHOO
Reported about 2 months ago
Alibaba Group is set to allow Chinese investors to buy its shares, potentially attracting up to $20 billion in new funds amid an upgrade to its primary listing in Hong Kong. This move, planned for late August, comes as Alibaba faces challenges with diminishing revenues and increasing competition, yet analysts believe this new access could stabilize its stock performance and help regain investor confidence.
Source: YAHOO
Reported about 2 months ago
Alibaba's long-anticipated link to China's stock exchanges may inject nearly $20 billion into the company's shares, potentially stabilizing its performance amid a struggling economy and increased competition. This move, planned amid regulatory pressures and geopolitical tensions, would allow mainland investors to buy Alibaba stocks, which have underperformed compared to rivals like Tencent. As shareholder approval approaches, analysts are optimistic that this new access could bolster investor sentiment and lead to a revival in Alibaba's stock price.
Source: YAHOO
Reported about 2 months ago
Former President Donald Trump held a press conference where he made several exaggerated claims regarding the economy and personal attacks on Vice President Kamala Harris. He suggested that inflation and price hikes had cost households significantly more than estimates indicate, misrepresented job data about foreign-born workers, and made incorrect statements about crime laws and election outcomes. Despite his assertions, the economy has shown signs of strength, contradicting his claims of an impending collapse.
Source: YAHOO
Reported about 2 months ago
Medical Properties Trust's stock jumped over 5% on Thursday following the announcement of its $86 million sale of 11 healthcare properties in Colorado to University of Colorado Health. This positive news contrasted with the stock's year-long unpopularity, driven by financial challenges, including a recent dividend cut. The REIT plans to use proceeds from the sale to reduce debt and bolster its finances.
Source: YAHOO
Reported about 2 months ago
Applied Materials has projected fourth-quarter revenue slightly above analysts' expectations, anticipating increased demand for chip-making equipment driven by AI technologies. However, the company's shares fell 2.8% in after-hours trading following a significant day of gains, influenced by mixed sales reports from China and the variability in their revenue forecast.
Source: YAHOO
Reported about 2 months ago
Source: WSJ
Reported about 2 months ago
Stanley Druckenmiller, the billionaire investor, has recently reduced his stake in Nvidia by 88% while expressing caution about the AI industry's current market hype. He has introduced new positions in companies such as Philip Morris and MercadoLibre, demonstrating a shift in his investment strategy towards real estate and emerging markets, while maintaining a disciplined approach to investing.
Source: YAHOO
Reported about 2 months ago
In a strong market rebound, the S&P 500 and Nasdaq have fully recovered losses from August, driven by robust economic signals from consumer spending and labor market data. Walmart's positive earnings report and stronger-than-expected retail sales helped boost investor confidence, leading to notable gains across major indices. The S&P 500 rose over 1.6% while the Nasdaq jumped more than 2.3%, marking a significant shift from recent market declines.
Source: YAHOO
Reported about 2 months ago
Warren Buffett's Berkshire Hathaway disclosed selling over 389 million shares of Apple in Q2 but still retains 400 million. The firm also cut investments in several companies while increasing its stakes in Chubb Limited and Occidental Petroleum, and made new investments in Ulta Beauty and Heico. Elon Musk commented on Berkshire's substantial $277 billion cash reserves, suggesting implications for the market as T-bill returns decline.
Source: YAHOO
Reported about 2 months ago
Kroger plans to reduce grocery prices by $1 billion after finalizing its $25 billion merger with Albertsons. The company had already pledged to decrease prices by $500 million at Albertsons locations. The merger faces legal challenges that could affect its completion, with a trial scheduled to start on September 30.
Source: YAHOO
Reported about 2 months ago
A wrongful death suit against Disney serves as a cautionary tale for consumers regarding the significance of understanding terms before agreeing to them. In this case, the family of a woman who died after eating at a Disney Springs restaurant claims that Disney should be held accountable, despite the company's argument that a prior subscriber agreement required disputes to go to arbitration. Consumer advocates emphasize the need for clearer contracts in an age when users rapidly consent to complex terms without fully comprehending their implications.
Source: YAHOO
Reported about 2 months ago
Lenovo reported a 20% increase in revenue in the first fiscal quarter, largely attributed to a significant growth in services and infrastructure, with AI integration playing a crucial role in their product development. North America President Ryan McCurdy emphasized that 47% of revenue comes from non-PC sectors, showcasing a diverse business model while maintaining leadership in the PC market. He mentioned that 80+ AI-ready platforms are being developed, indicating a strong commitment to incorporating AI across all products.
Source: YAHOO
Reported about 2 months ago
For the first time, Medicare has negotiated lower prices for ten high-cost prescription drugs, set to take effect in 2026, with reductions of nearly 79%. The affected medications include Stelara, Xarelto, Eliquis, and others, providing significant savings for beneficiaries enrolled in Medicare Part D. This unprecedented move was detailed by Yahoo Finance's health reporter, Anjalee Khemlani, with insights from Dr. Meena Seshamani.
Source: YAHOO
Reported about 2 months ago
As markets prepare for August 16, 2024, attention will be on the July housing starts and building permits report, expected to show a slight decline from June. Additionally, insights on monetary policy will be provided by Chicago Fed President Austan Goolsbee. Vice President Kamala Harris will also present her economic policy proposals, which may address grocery price controls.
Source: YAHOO
Reported about 2 months ago
Anduril Industries plans to build a new factory, Arsenal One, to enhance weapons production for the U.S. defense sector. Co-Founder Trae Stephens stated that traditional defense platforms are outdated amid evolving warfare and escalating geopolitical tensions. The factory will adopt a 'Tesla-like approach' emphasizing innovation, efficiency, and scalability to meet the growing demand for low-cost autonomous systems, leveraging upfront investment in necessary capabilities and infrastructure.
Source: YAHOO
Reported about 2 months ago
Source: INVESTORS
Reported about 2 months ago
Klarna CEO Sebastian Siemiatkowski discusses the company's expansion into retail banking services and its mission to disrupt traditional banks. Highlighting Klarna's status as a licensed bank in Europe, Siemiatkowski emphasizes their aim to deliver consumer-friendly services that save time and money, especially in the US where payment fees are significantly higher. He believes leveraging detailed consumer transaction data will enhance the advice and insights provided to customers.
Source: YAHOO
Reported about 2 months ago
Consumer perceptions of the economy are significantly influenced by their income levels, with recent data from Goldman Sachs indicating that higher-income consumers feel more optimistic compared to their lower-income counterparts. This divergence in sentiment is explored further in various analyses and discussions on recent market trends.
Source: YAHOO