Reported 7 days ago
In the third quarter of 2024, the stock market saw a shift as investors became cautious about AI investments, leading to a broader rally across various sectors beyond big tech. With signs of economic strength and recent interest rate cuts from the Federal Reserve, stocks from utilities, industrials, and financials outperformed technology stocks, indicating a potential sustainable recovery in the market.
Source: YAHOO
Reported 7 days ago
The S&P 500 reached a record high close and marked its best September performance since 2019, despite a volatile day on Wall Street. Most of the session saw trading in the red, but all three major indexes managed slight gains after comments from Federal Reserve Chairman Jerome Powell hinted at smaller future rate cuts.
Source: YAHOO
Reported 7 days ago
In the face of challenges in the automotive industry, analyst Daniel Roeska highlights Ford's resilience and potential for growth, particularly with its Ford Pro business and resurgence in the European EV market. He asserts that owning Ford shares is beneficial as the company is likely to exceed earnings expectations by 2025.
Source: YAHOO
Reported 7 days ago
Federal Reserve Chairman Jerome Powell stated that the central bank is committed to maintaining a robust economy, indicating that interest rate cuts will be executed gradually. Following a recent 50 basis point cut, he anticipates two more reductions of 25 basis points in 2024, contingent on economic performance. Powell described the job market as solid, with low layoffs and stable unemployment, emphasizing that the Fed’s goal is to ensure sustained economic strength while achieving its 2% inflation target.
Source: YAHOO
Reported 7 days ago
The US stock market closed September and the third quarter with record highs, driven by optimism over Federal Reserve actions aimed at sustaining economic growth. The S&P 500 and Nasdaq both achieved new records, while the Dow also posted significant gains over the past three months. Investors are now focused on the upcoming September jobs report, seen as crucial for market momentum, especially as the Fed signals a cautious approach to future rate cuts.
Source: YAHOO
Reported 7 days ago
Frontier Group's stock received an upgrade from Raymond James, changing its rating from 'underperform' to 'market perform.' Analysts Julie Hyman and Josh Lipton discuss the implications of this upgrade for investors in the latest episode of Market Domination.
Source: YAHOO
Reported 7 days ago
Stellantis (STLA) shares are dropping following the automaker's warning about worsening global auto industry conditions and a reduction in its 2024 forecasts. In response, Stellantis intends to implement cost-cutting measures and discounts, signaling broader issues within the automotive sector.
Source: YAHOO
Reported 7 days ago
X, formerly known as Twitter, is now valued at less than 25% of the $44 billion Elon Musk paid for it, according to a Fidelity report. The social media platform's valuation has dropped to $9.4 billion, with shares worth just $5.5 million for Fidelity. As advertising revenues continue to decline and the company moves its headquarters, the situation remains bleak for the social media giant.
Source: YAHOO
Reported 7 days ago
Sandy Villere, a portfolio manager at Villere & Co., discusses the potential for investors to capitalize on market volatility surrounding the upcoming presidential election. He contends that historically, markets perform well after interest rate cuts, and advises investors to consider buying quality companies at reasonable prices, particularly in consumer-facing sectors and large-cap value stocks, as the Fed signals confidence in the economy.
Source: YAHOO
Reported 7 days ago
In a speech at the National Association for Business Economics meeting, Federal Reserve Chairman Jerome Powell stated that the US economy is in 'solid shape' and emphasized that the Fed is not bound to a preset course regarding interest rates. While he anticipates continued rate cuts, future reductions may be less drastic than the recent 50 basis point cut made in September.
Source: YAHOO
Reported 7 days ago
The long-awaited $16 billion rail tunnel project connecting New York City and New Jersey has secured its final federal funding of $3.8 billion, completing a $12 billion federal contribution to the Hudson Tunnel project. The funding will aid in alleviating congestion under the Hudson River by constructing a new tunnel and upgrading an existing 100-year-old one, with completion expected by 2038. The project is set to begin tunnel boring this year, and officials express optimism about moving forward after years of political hurdles.
Source: YAHOO
Reported 7 days ago
This week's economic reports, particularly the monthly jobs data, are expected to have a significant impact on stock market performance. Analysts believe that positive reports indicating a strong labor market and consumer spending could lead to bullish outcomes for equities, especially if they suggest that the Federal Reserve's recent interest rate cuts are part of a healthy economic strategy rather than a reaction to potential downturns. Key indicators include nonfarm payroll additions and manufacturing sector activity, with markets looking for signs of resilience amid economic challenges.
Source: YAHOO
Reported 7 days ago
Epic Games has sued Google and Samsung in federal court, claiming their 'Auto Blocker' feature on Samsung devices restricts third-party app installations, thereby maintaining Google's dominance in Android app distribution. The lawsuit argues this feature, which defaults to allow only apps from authorized sources, violates antitrust laws and hinders competition. Epic seeks to ensure a fair market for developers and consumers, asserting that the current setup entrenches existing monopolies.
Source: YAHOO
Reported 7 days ago
Tesla managers in Germany have begun visiting sick employees at home to address rising absenteeism, with some workers reacting negatively to the visits. The effort stems from a significant increase in sick leave at the Grünheide factory, which has been attributed to the company's perception of employees taking advantage of Germany's sick leave policies. Union officials argue that harsh working conditions and long hours are the real issues behind the rising sick leave, calling for improvements in workplace culture.
Source: YAHOO
Reported 7 days ago
Cruise, General Motors' autonomous vehicle division, has been fined $1.5 million by the National Highway Traffic Safety Administration (NHTSA) for failing to fully report a pedestrian crash in October 2023. This incident led to a suspension of its driverless services and the revocation of its operating license in California. As part of a consent order, Cruise is required to submit a corrective action plan and will have to report quarterly to the NHTSA on its progress and compliance efforts over the next two years.
Source: YAHOO
Reported 7 days ago
Nvidia's stock faced a downturn after reports revealed that the Chinese government is pressuring local businesses to stop using its H20 chips for AI development. This strategy aims to enhance China's presence in the domestic AI market in light of impending US restrictions. Analysts discuss the implications further in a recent episode of Market Domination.
Source: YAHOO
Reported 7 days ago
According to Investopedia, achieving the American Dream now requires approximately $4.4 million over a lifetime, up from last year’s estimate of $3.4 million. The report outlines essential expenses beyond basics like housing and healthcare, accounting for desires such as retirement savings, children's education, and lifestyle choices. Editor Caleb Silver emphasizes the need for individuals to bridge the gap between their earnings and necessary funds through investments, highlighting that personal financial planning is crucial for realizing individual dreams.
Source: YAHOO
Reported 7 days ago
The auto industry faces challenges as Stellantis lowers its projections due to heightened competition from China, leading to a dip in European carmaker stocks. Meanwhile, Chinese stocks experienced a significant rally, the largest since 2008, following new stimulus measures announced by the People's Bank of China aimed at boosting its struggling economy.
Source: YAHOO
Reported 7 days ago
The Biden Administration's one-year grace period for student loan payments is about to end, affecting approximately 6.7 million borrowers who will need to start making monthly payments again. Student loan expert Mark Kantrowitz highlights that borrowers can still opt for forbearance, but cautions that this will lead to continued interest accrual. He advises borrowers to resume payments if possible to avoid escalating debt.
Source: YAHOO
Reported 7 days ago
As the fall travel season begins, experts suggest it may be a smarter time to travel for those who found summer trips too costly. Kerry Hannon, a Senior Columnist at Yahoo Finance, discusses popular fall destinations and strategies to secure the best deals.
Source: YAHOO
Reported 7 days ago
As the Federal Reserve's recent interest rate cuts begin to reduce consumer borrowing costs, small businesses are projected to emerge as 'dark horses' in the holiday shopping season. With significant impact from lowered credit card APRs, increased consumer confidence, and a booming stock market, small businesses are expected to see heightened investment and shopping activity this season. However, shoppers should remain cautious about debt as online commerce grows.
Source: YAHOO
Reported 7 days ago
SpaceX's Crew-9 mission successfully reached the ISS, marking a significant milestone as it not only conducted experiments but also rescued two stranded astronauts. Once considered a startup, SpaceX has transformed into a dominant player in the space industry, outperforming rivals like Boeing through innovative engineering and cost-effective solutions, as noted by industry expert Chad Anderson.
Source: YAHOO
Reported 7 days ago
The US Customs and Border Protection has announced that the fees for the Global Entry program will rise from $100 to $120, effective October 1st. Senior reporter Alexandra Canal from Yahoo Finance details the implications for applicants, including information on renewals for current members and advice for those interested in joining.
Source: YAHOO
Reported 7 days ago
In a discussion on Wealth, Anthony Saccaro, president of Providence Financial & Insurance Services, emphasizes the essential role of financial planning in guiding individuals towards their goals and providing stability during uncertain times. He highlights two significant benefits of having a financial plan: it establishes a clear target for financial objectives and maintains composure in turbulent financial situations. Saccaro warns against the common mistake of not adjusting investments according to life stages, particularly affecting older, retired individuals.
Source: YAHOO
Reported 7 days ago
The Federal Communications Commission (FCC) is investigating a significant outage affecting Verizon's mobile network, which saw thousands of users across major cities like Chicago and Seattle reporting issues. The outage, peaking with over 105,000 reports at its height, left many iPhone users stuck in 'SOS' mode. Verizon stated that its engineers are addressing the problems and service restoration has begun. The FCC aims to determine the cause and extent of these disruptions.
Source: YAHOO