Reported 3 months ago
As the earnings season concludes, investors and corporate leaders express significant concerns over economic 'uncertainty,' primarily driven by President Trump's trade policies. Executives from various companies indicate that they are unable to provide future guidance due to unpredictable tariff impacts and trade negotiations, with terms like 'uncertainty' being mentioned over 3,100 times across earnings calls this quarter. The ongoing legal challenges to these tariffs further complicate the economic landscape, leaving many executives pessimistic about near-term growth prospects.
Source: YAHOO
Reported 3 months ago
Gap's stock drops significantly after announcing potential tariff costs of up to $300 million, despite better-than-expected first-quarter results. Ulta raises its annual profit outlook due to strong beauty demand, with shares climbing over 11%. Dell also increases its full-year outlook, citing high demand for AI-driven servers, although its stock decreases slightly.
Source: YAHOO
Reported 3 months ago
Costco Wholesale Corp. reported better-than-expected earnings in the third quarter, reflecting its ability to navigate economic turbulence and tariffs while maintaining lower prices for its customers. With earnings per share of $4.28, the retailer's strategies, including shifting sourcing and managing prices item-by-item, have allowed it to remain profitable even as consumer spending patterns shift. Despite the challenges posed by fluctuating tariffs and rising costs, Costco's sales increased by 8% in the latest quarter, bolstered by strong performance in e-commerce and a loyal customer base.
Source: YAHOO
Reported 3 months ago
In the latest analysis from Wall Street, Airbnb has received a downgrade from Truist to 'Sell' due to anticipated soft summer leisure trends, while Zscaler was downgraded by Piper Sandler to 'Neutral' despite strong fiscal Q3 performance. Additionally, several companies, including Rockwell Automation and Unity, received upgrades reflecting their positive market outlooks. Other notable downgrades include Regeneron and Cooper Companies following disappointing results.
Source: YAHOO
Reported 3 months ago
Source: BARRONS
Reported 3 months ago
Canada’s federal government has seen a substantial rise in tariff revenues, with customs duties increasing by 39% in the first quarter of the year due to retaliatory tariffs imposed against U.S. products in response to President Trump’s tariffs. The revenue from these duties reached C$1.95 billion ($396 million), reflecting Canada’s strategy to boost its economic growth amid ongoing trade tensions.
Source: YAHOO
Reported 3 months ago
Source: INVESTORS
Reported 3 months ago
US stock markets saw declines on Friday as tensions between the US and China intensified, particularly concerning new tech restrictions. The S&P 500 dropped by 1%, the Nasdaq fell by 1.6%, and the Dow slipped by 0.6%. This downturn followed reports that the Trump administration plans to expand existing tech sanctions on China. Despite the market's downturn, inflation data indicated a cooling trend, with April's Personal Consumption Expenditures index showing increases in line with expectations.
Source: YAHOO
Reported 3 months ago
Source: BARRONS
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Despite the ongoing drama surrounding U.S. trade tariffs, the global economy is demonstrating unexpected resilience. Recent data indicates modest growth driven by U.S. consumers and foreign sellers who have adjusted their business strategies amidst the uncertainty. Investment banks predict the U.S. will avoid a recession, while the International Monetary Fund has slightly downgraded its global GDP growth forecast. The strength of the global economy, evidenced by robust manufacturing in Europe and resilient output from China, suggests cautious optimism, though ongoing trade negotiations, particularly with China, remain uncertain.
Source: YAHOO
Reported 3 months ago
Source: BARRONS
Reported 3 months ago
Brazilian fintech Meliuz has announced a primary offering of shares to raise 150 million reais (approximately $26.45 million) for the purpose of purchasing bitcoin, with the share pricing set for June 12. The initial offering includes 17,006,803 common shares, which may be increased by up to 200%.
Source: YAHOO
Reported 3 months ago
Source: INVESTORS
Reported 3 months ago
Source: WSJ
Reported 3 months ago
Source: WSJ
Reported 3 months ago
In April, US inflation showed limited growth with a 0.1% increase in the Personal Consumption Expenditures (PCE) Price Index, following a stable March. Consumer spending rose by 0.2%, down from a significant 0.7% increase in the previous month. Analysts suggest concerns over the ongoing trade war could be affecting market confidence, despite reassuring inflation data.
Source: YAHOO
Reported 3 months ago
In April, the U.S. goods trade deficit narrowed significantly by 46.0% to $87.6 billion, as imports plummeted by $68.4 billion. This drop in imports follows a surge in March driven by businesses attempting to avoid impending tariffs. Despite the reduction, uncertainties remain as tariff increases have been postponed, and legal rulings have impacted their implementation.
Source: YAHOO
Reported 3 months ago
Source: WSJ
Reported 3 months ago
Federal Reserve policymakers are expected to maintain their current interest rates amid slowing inflation and cautious consumer behavior. Recent data shows a modest 2.1% year-over-year increase in the Personal Consumption Expenditure price index, suggesting inflation is stabilizing near the Fed's 2% target. However, analysts believe increased tariffs may impact future inflation trends, leading traders to expect the Fed to start gradually cutting rates by September, lowering them to between 3.75% and 4.0% by year-end.
Source: YAHOO
Reported 3 months ago
Source: WSJ
Reported 3 months ago
Source: WSJ
Reported 3 months ago
American Eagle Outfitters' stock plummeted following a disappointing first-quarter report, revealing a loss per share of $0.29, significantly worse than analyst expectations. The retailer anticipates continued declines in sales for the upcoming quarter and has retracted its full-year forecast due to macroeconomic uncertainties and unexpected promotional events. As a result, American Eagle shares fell 9% ahead of market opening, marking a steep decline in their value over the year.
Source: YAHOO
Reported 3 months ago
According to a Societe Generale survey, hedge fund investors are increasingly favoring macroeconomic traders, with half of the 322 respondents considering investments in discretionary global macro hedge funds over the next year. This interest has grown by 9% since the last survey, coinciding with a turbulent market influenced by trade uncertainties. The study also noted a rise in interest for equity market-neutral funds and a steady preference for multi-strategy hedge funds, while crypto funds saw the least interest.
Source: YAHOO
Reported 3 months ago
Groq, a private company led by chip veteran Jonathan Ross, aims to challenge Nvidia's dominance in the AI chip market by offering quicker deployment solutions. Founded in 2016, Groq specializes in language processing units (LPUs) that promise faster and more efficient performance for large language models compared to Nvidia's GPUs. With a recent valuation of $3.5 billion, the company has attracted significant investments, including $640 million from notable firms like BlackRock and Cisco, and has secured a $1.5 billion deal with Saudi Arabia to expand its AI chip operations.
Source: YAHOO