Reported about 2 months ago
Source: WSJ
Reported about 2 months ago
Federal Reserve Chair Jerome Powell is set to speak next Friday at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, where he will provide an updated assessment of the U.S. economic conditions and monetary policy. This appearance comes between the Fed's July and September meetings, amid discussions of potential interest rate cuts due to easing inflation and labor market conditions.
Source: YAHOO
Reported about 2 months ago
Brazil's President Luiz Inacio Lula da Silva intends to submit all four nominations for the central bank board simultaneously, featuring Gabriel Galipolo as a prominent candidate for the presidency. This move could significantly shift the balance of the bank's interest rate-setting committee in favor of Lula's administration if the Senate approves his choices, which are anticipated to take office in 2025.
Source: YAHOO
Reported about 2 months ago
Federal authorities are allocating nearly $10 million to promote the use of ropeless fishing gear in the lobster and crab industries to protect the endangered North Atlantic right whale. This funding will support the development of ropeless technology, as the whale population dwindles to fewer than 360 individuals due to threats from fishing gear entanglement and ship collisions. Improvements in whale distribution modeling will also be funded to aid conservation efforts.
Source: YAHOO
Reported about 2 months ago
According to NAHB CEO Jim Tobin, the building industry is poised for significant growth in the coming years, with mortgage rates trending lower and a potential for increased market activity as the Federal Reserve may cut interest rates. He emphasizes the need for a focus on increasing housing supply to meet existing demand, especially as the 2024 presidential election approaches, which could bring shifts in regulatory environments affecting the housing market.
Source: YAHOO
Reported about 2 months ago
Portfolio manager Erin Browne discusses recent market stabilization following positive retail sales and jobless claims data. She forecasts potential Federal Reserve rate cuts beginning in September, alongside a cautious outlook on increased volatility due to the upcoming US presidential election. Browne also suggests investing in infrastructure and semiconductor sectors as earnings are expected to rise leading into 2025.
Source: YAHOO
Reported about 2 months ago
Edgar Bronfman Jr. is reportedly preparing a bid for National Amusements, the parent company of Paramount Global, amid a 45-day 'go-shop' period during which Paramount can consider other offers following an earlier agreement with Skydance Media.
Source: YAHOO
Reported about 2 months ago
Despite warnings of a consumer slowdown, the cruise sector shows resilience, with Carnival and Royal Caribbean providing optimistic forecasts due to heightened demand. Analyst Paul Golding praises Royal Caribbean as a leading choice for investors, highlighting its effective debt management and plans for substantial capacity growth. He anticipates an 8% increase in capacity this year alone, indicating strong prospects in the cruising market.
Source: YAHOO
Reported about 2 months ago
Six Flags Entertainment announced plans to introduce seven new roller coasters in 2025, including the thrilling Wrath of Rakshasa with a 171-foot drop. Following this investment update, shares of Six Flags rose over 3%. Additionally, the company will expand its all-park passport offering, allowing unlimited admissions and parking across all 42 Six Flags parks.
Source: YAHOO
Reported about 2 months ago
Canada's largest pension fund, the Canada Pension Plan Investment Board (CPPIB), has successfully reduced borrowing costs by adopting a predictable bond issuance schedule. This strategy mirrors approaches used by provincial governments and has led to increased investor loyalty. CPPIB has been able to issue new bonds at lower premiums and has seen significant growth in trading volumes, placing it on par with provincial issuers in terms of liquidity.
Source: YAHOO
Reported about 2 months ago
Mortgage rates have increased slightly this week, with the average 30-year fixed rate reaching 6.49%, up from 6.47% the prior week. This remains the lowest level in over a year as markets await potential interest rate cuts from the Federal Reserve in its upcoming policy meeting. Yahoo Finance's Dani Romero discusses the implications for home buyers and sellers.
Source: YAHOO
Reported about 2 months ago
Applied Materials (AMAT) reported strong third-quarter earnings, surpassing Wall Street forecasts with adjusted earnings of $2.12 per share and net sales of $6.78 billion. For the upcoming fourth quarter, the company anticipates net sales between $6.53 billion and $7.33 billion and adjusted earnings of $2.00 to $2.36 per share.
Source: YAHOO
Reported about 2 months ago
The Biden administration announced that its new drug price negotiation policy will save Americans $7.5 billion in the first year, lowering costs for senior citizens and the government. The measure will reduce prices for key medications significantly, with cuts ranging from 38% to 79%, particularly benefiting diabetes and heart failure treatments. Critics highlight that actual savings may be muted due to existing private rebates. The policy marks a significant shift, allowing Medicare to negotiate drug prices for the first time, potentially cutting the federal deficit by $237 billion over the next decade.
Source: YAHOO
Reported about 2 months ago
On August 15, 2024, major U.S. stock indexes surged as signs emerged of a resilient economy, with the S&P 500 up 1.6%, Dow Jones up 1.4%, and Nasdaq up 2.3%. Retail spending increased and unemployment claims dropped, boosting investor confidence. Strong performance from Walmart after it raised its sales forecast further fueled market optimism, as Wall Street anticipates a Federal Reserve interest rate cut next month.
Source: YAHOO
Reported about 2 months ago
Internal documents indicate that Autodesk Inc. continued a controversial sales strategy despite pledging to stop and ignoring warnings about associated risks. The engineering software company offered discounts to certain clients who paid upfront for multi-year contracts, raising concerns among employees about long-term revenue implications and financial modeling accuracy. This practice persisted even after an internal review and resulted in executive changes, including the replacement of its CFO amid an ongoing accounting probe.
Source: YAHOO
Reported about 2 months ago
The stock market saw considerable gains on Thursday, with the Nasdaq Composite increasing by 2.3% and the Dow Jones Industrial Average climbing over 550 points. This surge was driven by encouraging economic data, including July’s US retail sales and a decrease in initial jobless claims from the previous week.
Source: YAHOO
Reported about 2 months ago
Traders are increasingly optimistic about Alaska Air Group's $1.9 billion acquisition of Hawaiian Holdings after the DOJ extended its merger review deadline to August 20, 2024. This move has led to a significant rise in Hawaiian shares, now just $2 below Alaska's bid price. Investors believe that the extensions may indicate a potential settlement between the parties, alleviating fears of a DOJ lawsuit that had previously plagued the deal.
Source: YAHOO
Reported about 2 months ago
Recent reports indicate that U.S. retail sales are exceeding expectations, showcasing a resilient consumer base amidst ongoing inflationary pressures. Michelle Meyer from Mastercard Economics highlights an 8% increase in online shopping in July, particularly in apparel. This shift in consumer behavior suggests a move toward more balanced and stable shopping patterns post-pandemic, as households manage personal finances and time more effectively.
Source: YAHOO
Reported about 2 months ago
Tapestry Inc. (TPR) shares jumped after the company's second-quarter earnings exceeded analyst expectations, driven largely by robust demand for the Coach Tabby bag. As the owner of well-known brands such as Kate Spade, Stuart Weitzman, and Coach, Tapestry reported impressive revenue and profit figures, signaling strong performance in the luxury goods market.
Source: YAHOO
Reported about 2 months ago
In a recent discussion, experts analyzed the rebound in bond investing, fueled by expectations of Federal Reserve interest rate cuts in late 2024. Positive jobless claims and retail sales data, along with favorable inflation trends, have encouraged investors to return to the bond market, viewing it as a hedge against equity risks. While some believe many rate cuts are already factored into market pricing, there remains optimism about opportunities in T-bills and floating rate bonds.
Source: YAHOO
Reported about 2 months ago
Wall Street is edging closer to record highs after experiencing one of its best trading days of the year, with the S&P 500 rising by 1.6% and the Dow Jones Industrial Average gaining over 550 points.
Source: YAHOO
Reported about 2 months ago
Walmart continues to excel in the retail market, reporting second-quarter earnings that surpassed expectations in both revenue and profit while raising its full-year guidance. Analyst Michael Baker highlights Walmart's ability to capture market share through its focus on value, convenience, and store improvements, contrasting its strong performance with competitors like Target, which face more challenging market conditions.
Source: YAHOO
Reported about 2 months ago
In a stark contrast of performance, JD.com reported nearly double the profit for Q2 compared to estimates, whereas Alibaba's revenue fell short of expectations. This diverging trend occurs amidst heightened competition from the emerging e-commerce platform, Temu, owned by PDD Holdings.
Source: YAHOO
Reported about 2 months ago
United Airlines CEO Scott Kirby expressed optimism regarding Boeing's recovery after a productive meeting with the company's new CEO, Kelly Ortberg. Kirby noted a renewed confidence in Boeing's direction, especially after past frustrations related to the grounding of 737 MAX 9 jets. He praised Ortberg's background and approach, emphasizing the importance of his commitment to understanding employee and customer needs.
Source: YAHOO
Reported about 2 months ago
Following the release of strong economic data, traders have lowered their bets on significant rate cuts from the Federal Reserve for the remainder of the year. Treasury yields rose sharply as positive retail sales and jobless claims diminished expectations for aggressive monetary easing. Analysts noted increased volatility in the bond market as traders reassess the likelihood of rate changes in September, with less than 30 basis points priced into the market for that timeframe.
Source: YAHOO