Reported 2 months ago
As inflation and labor market conditions cool, most Wall Street analysts predict a Federal Reserve rate cut in September. However, Infrastructure Capital Advisors CEO Jay Hatfield argues against a 50 basis point cut, insisting it will only be 25 basis points due to the Fed's conservative approach. He believes markets won't react negatively to this smaller cut and expects further reductions as the year progresses.
Source: YAHOO
Reported 2 months ago
The state of Texas has filed a lawsuit against General Motors, alleging that the car manufacturer collected and sold driver data from over 14 million vehicles without consent. Texas Attorney General Ken Paxton claims the data, used to create 'Driving Scores' assessing driving habits, could impact insurance premiums and policies. The lawsuit follows an investigation into GM's practices, which purportedly misled consumers about mandatory participation in data collection via OnStar, violating Texas privacy laws.
Source: YAHOO
Reported 2 months ago
Nvidia shares surged over 6% following comments from Goldman Sachs strategist Scott Rubner, who referred to the company as the 'most important stock' of the year. He highlighted the potential for bullish momentum due to Nvidia's upcoming earnings report and the Federal Reserve's Jackson Hole Economic Symposium, which he believes could set the stage for a market rally. However, Rubner also warned investors to prepare for possible challenges in the second half of September before anticipating new market highs in late 2024.
Source: YAHOO
Reported 2 months ago
Car enthusiasts worldwide are set to gather in California for Monterey Car Week, culminating in the Pebble Beach Concours d'Elegance on August 18. Pras Subramanian discusses the vehicles that will be showcased and highlights which automakers, including General Motors, plan to unveil their latest models at the event.
Source: YAHOO
Reported 2 months ago
Boeing has uncovered electrical issues affecting its 737 aircraft, which will delay deliveries further. The company identified a nonconforming component on three delivered planes causing them to be grounded, while production at its Renton factory continues. These issues come on top of previous troubles and production delays, leading to a significant operating loss of $1.4 billion in Q2. Despite this, most analysts maintain a positive outlook on Boeing stock.
Source: YAHOO
Reported 2 months ago
Paramount has announced the closure of its TV studio as part of a wider restructuring strategy, which includes plans to reduce its workforce by 15% over three phases. This decision comes as the company prepares for a merger with Skydance Media and aims to strengthen its financial position.
Source: YAHOO
Reported 2 months ago
Kyndryl's CEO Martin Schroeter discusses the importance of cyber resiliency in the context of increasing reliance on AI technologies. Following a major outage caused by CrowdStrike in July, Kyndryl showcased its capability to quickly restore services for mission-critical systems. As generative AI adoption grows, Kyndryl aims to help businesses navigate the integration of AI while ensuring data security and integrity.
Source: YAHOO
Reported 2 months ago
At the 2024 Made by Google event in Mountain View, California, Google introduced its latest Pixel 9 smartphone lineup, featuring the innovative Pixel 9 Pro Fold. Tech editor Dan Howley discusses the impressive specifications and functionalities of these devices, along with the newly unveiled Pixel Watch 3. Additionally, the event addressed Google's approach to ongoing antitrust allegations concerning its search browser monopoly in smart devices.
Source: YAHOO
Reported 2 months ago
Big Lots announced it will shut down more than 300 stores across the U.S., constituting about a quarter of its locations, following significant financial losses and decreased consumer spending. The retailer's recent earnings report revealed a 10% drop in sales and a quarterly loss of $205 million, prompting the company to reassess its operations and close underperforming stores. Big Lots aims to stabilize its finances and refocus on providing value to its customers.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
In light of recent market volatility, AlphaSimplex Chief Research Strategist Kathryn Kaminski cautions that sustaining strong equity market movement is challenging. During a discussion on Yahoo Finance's Opening Bid, she emphasized the importance of observing earlier market signals to navigate the downturn effectively.
Source: YAHOO
Reported 2 months ago
U.S. stocks saw significant gains on Tuesday, led by tech shares amid cooler-than-expected inflation data and anticipation for the upcoming Consumer Price Index (CPI) report. The Nasdaq climbed approximately 2.4%, while the S&P 500 rose about 1.7%. The Producer Price Index (PPI) indicated only a 0.1% month-over-month increase, suggesting some easing inflation. Companies like Starbucks and Chipotle were also in the spotlight following significant executive changes, impacting their stock performances.
Source: YAHOO
Reported 2 months ago
A recent discussion led by SEI's chief investment officer, Jim Smigiel, highlights a potential 'disappointment' for markets in 2024, specifically regarding expectations for Federal Reserve rate cuts. While current market movements reflect a relief rally after lower-than-expected inflation data, Smigiel notes that inflation remains consistent and warns that the anticipated rate cuts may occur sooner and be less substantial than investors expect, posing a risk to market stability. He emphasizes the need for diversified portfolios and identifies commodities as an attractive investment sector.
Source: YAHOO
Reported 2 months ago
Shares of Nvidia are increasing despite reports that Huawei is nearing the launch of a new AI chip designed to compete with Nvidia in the Chinese market. Market analysts highlight the regulatory challenges Nvidia may face in China.
Source: YAHOO
Reported 2 months ago
Tilray Brands has announced its acquisition of four craft breweries from Molson Coors, aiming to diversify from its cannabis roots and enhance its beer offerings. This purchase includes brands such as Hop Valley Brewing Company and Terrapin Beer Co, which will attract a 30% increase in new customers. This move is part of Tilray's strategy to reinforce its spirits and beverage portfolio amidst declining cannabis sales.
Source: YAHOO
Reported 2 months ago
All major stock indices closed higher on Tuesday, with the Nasdaq Composite rising over 2.4% and the S&P 500 up by 1.68%. This surge followed the release of the Producer Price Index (PPI) report for July, which has contributed to positive market sentiment ahead of the upcoming Consumer Price Index (CPI) report.
Source: YAHOO
Reported 2 months ago
Dell Technologies' stock rose following an upgrade by Barclays from Underweight to Equal Weight, which analysts believe reflects the stock's recovery from previous AI-related setbacks during tech market pullbacks. The change signals potential buying interest from Wall Street.
Source: YAHOO
Reported 2 months ago
This article discusses how to earn $1,000 per month in dividends by investing in high-yield stocks and ETFs, highlighting Main Street Capital, Ares Capital, and Hercules Capital as top picks due to their solid dividend payments and growth. It also features the NEOS S&P 500 and JPMorgan Nasdaq Equity Premium Income ETFs as good options for generating monthly income through covered calls, alongside insights into the challenges of high-yield dividend investing.
Source: YAHOO
Reported 2 months ago
Starbucks has announced Brian Niccol, former CEO of Chipotle, as its new CEO, marking a significant leadership change as company shares jumped 23%. Niccol faces the daunting task of revitalizing Starbucks, which has seen declining sales and increased competition, particularly in the U.S. and China markets. Analysts believe he will have the authority to make necessary changes, but they express skepticism about the immediate impact given the company's entrenched issues. Niccol is expected to leverage his experience in brand revitalization and operational efficiency to navigate these challenges.
Source: YAHOO
Reported 2 months ago
A Texas federal judge, Reed O'Connor, has recused himself from handling a lawsuit brought by Elon Musk's platform X against several advertisers. The decision follows reports that he owns shares of Tesla, another company associated with Musk. The lawsuit alleges that the advertisers conspired to boycott X, negatively impacting its revenue. Following O'Connor's recusal, the case has been reassigned to Judge Ed Kinkeade.
Source: YAHOO
Reported 2 months ago
Deciding whether to take a lump sum or an annuity from a pension is a significant financial choice with lasting consequences. A lump sum provides flexibility and control but comes with investment risks and tax implications. Conversely, an annuity guarantees steady income but offers less flexibility. Factors such as life expectancy, family considerations, risk tolerance, and the financial health of your pension provider should all play a role in determining the best option for your retirement needs.
Source: YAHOO
Reported 2 months ago
Senator Elizabeth Warren has accused Kroger of price gouging as families face increasing challenges affording groceries. In a letter co-signed by Senator Bob Casey, they criticized Kroger's use of electronic shelf labels for potentially allowing dynamic pricing, likening it to surge pricing seen in services like Uber. The senators argue that this practice could exploit consumers by raising prices during high demand, further stressing that large corporations must not profit at the expense of everyday Americans struggling to make ends meet.
Source: YAHOO
Reported 2 months ago
On Wednesday, the release of July's Consumer Price Index (CPI) is expected to show inflation holding steady at 3.0%, sparking investor speculation regarding future Federal Reserve interest rate cuts. With consumer prices estimated to rise slightly and core inflation moderating, analysts anticipate a potential rate cut in September as economic indicators align favorably.
Source: YAHOO
Reported 2 months ago
Tesla is preparing to launch a 1950s-style diner in Los Angeles, as indicated by a recent job posting for a Tesla Diner Experience Specialist. This move follows years of discussion by Elon Musk about integrating a diner with Tesla's charging stations. The diner will feature a drive-in movie theater and aims to provide an exceptional customer experience, with operations expected to run 24/7. Although the exact opening date is unclear, it is expected to be ready by the end of this year.
Source: YAHOO