Reported 1 day ago
The U.S. dollar showed stability after a trade agreement with Vietnam raised optimism for future deals, while traders closely monitored the upcoming U.S. payrolls report. The British pound remained under pressure due to fiscal concerns related to Finance Minister Rachel Reeves, as the market anticipated the impact of recent private payroll declines on Federal Reserve interest rate decisions. With the U.S. dollar index slightly higher, focus shifts to labor statistics that could influence monetary policy amid rising worries about recession.
Source: YAHOO
Reported 1 day ago
U.S. chip design software companies Synopsys and Cadence have announced the lifting of export restrictions to China, following a resolution of a dispute over rare earth materials. The companies will restore access to their software and services for Chinese clients, while Siemens also received similar notifications. This development comes after ongoing tensions, including prior trade restrictions impacting various sectors, and aims to stabilize supply chains and trade relations between the U.S. and China.
Source: YAHOO
Reported 1 day ago
Oil prices fell as worries about weak U.S. demand, uncertain tariffs, and an anticipated output increase from OPEC+ weigh on the market. Brent crude futures decreased to $68.58 a barrel, while U.S. West Texas Intermediate crude dropped to $66.94 amid fears of higher tariffs potentially affecting fuel demand. Additionally, a survey indicated that China's service activity slowed, and U.S. crude inventories unexpectedly rose, further raising concerns about demand during the peak summer driving season. Market participants are cautious ahead of the upcoming U.S. jobs report.
Source: YAHOO
Reported 1 day ago
Beijing is increasingly concerned about US trade negotiations aimed at isolating Chinese companies from international supply chains. As the US pushes for new trade deals with partners like Vietnam and India, which include restrictions on Chinese content, China warns of retaliatory measures if its interests are compromised. The situation is exacerbated by potential US export controls on high-tech equipment and rising trade tensions with Europe, further complicating China's position in global trade dynamics.
Source: YAHOO
Reported 1 day ago
Gold prices dipped following a three-day increase, with attention shifting to upcoming US jobs data that could influence the Federal Reserve's interest rate decisions. After gaining over 2% earlier in the week, gold is trading around $3,345 an ounce. Investors are concerned about a potential slowdown in employment growth, evidenced by a recent drop in US company hiring, which may prompt the Fed to consider rate cuts. Overall, gold has strengthened amid geopolitical tensions and increased central bank purchases, while concerns over the US deficit and trade negotiations continue to loom.
Source: YAHOO
Reported 1 day ago
OpenAI has firmly condemned Robinhood's recent sale of 'OpenAI tokens,' clarifying that these tokens do not represent equity in the company. The CEO, Sam Altman, stated that OpenAI did not partner with Robinhood and does not endorse this initiative, emphasizing that any transfer of their equity requires approval which was not granted in this case. Robinhood's attempt aims to provide investors indirect exposure to OpenAI's shares through a special purpose vehicle, but OpenAI warned that these tokens do not equate to ownership of actual shares.
Source: YAHOO
Reported 1 day ago
Oil prices fell after a significant rise, as traders focused on the outcomes of US trade talks with Vietnam and the upcoming OPEC+ meeting. Brent crude remained around $69 a barrel following a 3% increase, as sentiment was buoyed by trade optimism. However, analysts caution that this positive trend may be temporary, particularly with OPEC+ expected to increase oil supply quotas amid rising US crude stockpiles.
Source: YAHOO
Reported 1 day ago
Nikola Todorovic, co-founder of Wonder Dynamics, will join the AI Stage at TechCrunch Disrupt 2025 in San Francisco, where he will discuss the intersection of AI and creativity in the film industry. As a visual effects expert, Todorovic's work focuses on empowering artists with innovative tools like Autodesk Flow Studio, which simplifies high-end visual effects. His session will explore the future of AI in media and is part of a larger gathering of over 10,000 tech leaders.
Source: YAHOO
Reported 1 day ago
Activist investor Starboard Value has acquired over a 9% stake in online travel company Tripadvisor, valued at approximately $160 million, leading to a 7% increase in the company's stock price during after-hours trading. Tripadvisor's shares have fallen about 15% over the past year, prompting its board to explore various options, including a potential sale. Starboard is known for advocating operational changes at its investments and is expected to make a 13D regulatory filing soon.
Source: YAHOO
Reported 1 day ago
House Republican leaders are struggling to secure the necessary votes to advance Donald Trump's significant tax and spending package. Despite initial resistance, Speaker Mike Johnson expresses optimism that some Republican holdouts may eventually support the bill. The legislation, which includes tax cuts and other controversial measures, has faced opposition from both fiscal conservatives and moderate lawmakers concerned about cuts to Medicaid. Trump has publicly urged Republicans to unite and pass the bill, emphasizing its importance to his legislative agenda.
Source: YAHOO
Reported 1 day ago
US stock futures showed slight gains as investors await the June jobs report, which could influence future interest rate cuts. The S&P 500 and Dow futures rose about 0.1%, while Nasdaq futures climbed roughly 0.2%. Market sentiment remains cautious amid trade negotiations and President Trump's stalled tax bill, highlighting the looming July 9 tariff deadline.
Source: YAHOO
Reported 1 day ago
Gamblers are alarmed by a proposed $1.1 billion tax hike in the GOP's tax bill that could reduce their net winnings and impose taxes even when they break even or incur losses. The bill, part of Trump's extensive tax reform legislation, would limit loss deductions from 100% to 90%, raising concerns among both professional and amateur gamblers. As the bill progresses to the House, representative Dina Titus is among those seeking a solution to this potential blow to the gaming industry.
Source: YAHOO
Reported 1 day ago
On Thursday, July 3, investors should keep an eye on the June jobs report, which is expected to reveal a drop in nonfarm payrolls to 110,000 and an uptick in unemployment to 4.3%. Atlanta Fed President Raphael Bostic will provide commentary, while Freddie Mac will release weekly mortgage rates, currently at 6.7%, as the housing market adjusts to high prices.
Source: YAHOO
Reported 1 day ago
Despite a disappointing first-quarter earnings report for fiscal 2026, Constellation Brands saw its stock rise nearly 5% on Wednesday. The company's net sales fell short of analyst expectations, declining to just under $2.52 billion, and adjusted profits dropped 12%. However, investors were encouraged by positive growth projections for the beer category, which is expected to grow flat to 3% in the fiscal year, contrasting with significant declines in wine and spirits sales.
Source: YAHOO
Reported 1 day ago
Lucid Motors reported a 6% increase in vehicle sales, delivering 3,309 cars in Q2 2025, while producing 3,863 vehicles, making notable progress in a challenging EV market. Despite this growth, Lucid faces a significant gap in its goal of 20,000 annually, needing to ramp up production of its new Gravity SUV, which began in December 2024. CEO Marc Winterhoff cited supply chain issues and a focus on quality as reasons for slower production, while emphasizing strong interest in the Gravity model. Further details on production numbers will be shared in the upcoming earnings report.
Source: YAHOO
Reported 1 day ago
The United States has removed restrictions on ethane exports to China, signaling a positive development in the U.S.-China trade relations. After imposing a license requirement on ethane exports as a response to slowed shipments of rare earth materials from China, the U.S. has now allowed producers to resume shipments. This comes after resolving related issues from last week, and ethane shipments, which are crucial for both U.S. producers and Chinese petrochemical manufacturers, are expected to recover to normal levels.
Source: YAHOO
Reported 1 day ago
Bunge Global has completed its long-awaited merger with Viterra, backed by Glencore, officially closing the $34 billion deal two years after its announcement. This merger creates a new agri-business powerhouse that aims to compete with industry leaders like Archer-Daniels-Midland and Cargill amid challenging market conditions. Bunge's CEO Greg Heckman will continue leading the combined company, which will significantly enhance its grain exporting and oilseed processing capabilities.
Source: YAHOO
Reported 1 day ago
Electric vehicle manufacturer Lucid reported a 38% increase in second-quarter deliveries, totaling 3,309 vehicles, but this still missed analyst estimates of 3,611. The company's sales were impacted by rising interest rates, leading consumers to favor cheaper hybrid and gasoline vehicles. Lucid's production also fell short of projections, producing 3,863 vehicles in the quarter, while it maintained its annual production targets despite economic challenges. The success of new models like the Gravity SUV and a mid-size car aimed at a $50,000 price point is critical for the company's future.
Source: YAHOO
Reported 1 day ago
Exxon Mobil and QatarEnergy's Golden Pass LNG has requested U.S. regulatory permission to re-export liquefied natural gas (LNG) from October 1, as it approaches production at its Texas facility, which has faced delays and cost overruns. The company plans to import LNG to cool its still-under-construction plant, marking a crucial step towards production, and could become the ninth U.S. LNG exporter by late 2025.
Source: YAHOO
Reported 1 day ago
Donald Trump's ambitious tax and spending legislation hit a stalemate in the House as he attempts to sway Republican hardliners critical of its $3.4 trillion price tag. Procedural votes were postponed while fiscal conservatives refined their demands, leading to uncertainty regarding the bill's passage before the July 4 deadline. Meanwhile, moderates express concerns over proposed cuts to Medicaid, complicating negotiations further and risking extended delays in finalizing the legislation.
Source: YAHOO
Reported 1 day ago
Michael Gibson, the director of the U.S. Federal Reserve's supervision and regulation division, has accepted a voluntary buyout and will retire at the end of the month after 33 years at the Fed. His retirement follows a message indicating that fellow deputy directors also plan to retire later this year. Gibson reassured staff about the organization's stability during leadership changes, as the Federal Reserve seeks to reduce its workforce by about 10% in alignment with broader federal workforce reduction goals.
Source: YAHOO
Reported 1 day ago
On July 2, 2025, the S&P 500 rose 0.5% to achieve a record close for the second time this week after a U.S.-Vietnam trade deal was announced. However, shares of health insurer Centene dropped 40% after it withdrew its full-year guidance due to increased patient illness and enrollment issues, dragging down other health insurance stocks. Meanwhile, Coinbase saw a 5.7% increase following its acquisition of token-management platform Liquifi, and Moderna shares rose after positive trial results for its flu vaccine. Mixed employment data further highlighted a softening labor market.
Source: YAHOO
Reported 1 day ago
Shares of several retail companies including Nike, Wayfair, and Under Armour rose significantly after President Trump announced a trade agreement with Vietnam. Nike, which sources half of its shoes from Vietnam, saw a 4% increase in stock value, while Wayfair's shares jumped over 8%. The deal involves Vietnam agreeing to a 20% tariff on goods shipped to the U.S., a move that avoided a higher 46% tariff set to commence soon.
Source: YAHOO
Reported 1 day ago
On July 2, 2025, as Wall Street hits new record highs fueled by tech stocks and a U.S.-Vietnam trade deal, investors are bracing for the crucial June jobs report. With uncertainty after weak private payroll data and an expected addition of 110,000 jobs, a disappointing report could escalate expectations for interest rate cuts. This comes amidst a backdrop of fiscal concerns and potential new tariffs, with U.S. markets poised for early closures ahead of the Independence Day holiday.
Source: YAHOO
Reported 1 day ago
Brazil's Embraer announced the delivery of 61 aircraft in Q2 2025, marking a 30% increase from the same period last year, including 19 commercial jets and 38 executive jets, the latter reflecting a 41% rise. The company anticipates delivering between 77 and 85 commercial planes and 145 to 155 executive jets throughout the year.
Source: YAHOO