Reported 2 months ago
Source: WSJ
Reported 2 months ago
The Vanguard Information Technology ETF (VGT) boasts a history of strong performance, with an average annual return of 20.63% over the past decade. While it offers exposure to leading tech companies like Microsoft, Apple, and Nvidia, and presents a higher potential for creating wealth compared to other ETFs, it also carries greater risk due to market volatility. Investing consistently could yield substantial returns, but it's essential to assess personal risk tolerance before diving in.
Source: YAHOO
Reported 2 months ago
Susan Wojcicki, the former CEO of YouTube and a key figure at Google since 1999, died at the age of 56 after a two-year battle with lung cancer. Her husband, Dennis Troper, confirmed her passing, highlighting her dedication to philanthropy despite her illness. Pichai, Google's CEO, praised her contributions to technology and her commitment to making the world a better place. Wojcicki led YouTube for nine years after previously serving as senior vice president for ad products at Google.
Source: YAHOO
Reported 2 months ago
Brazilian authorities are investigating the cause of a plane crash in Vinhedo that killed all 61 people aboard, including 57 passengers and 4 crew members. The Voepass ATR 72 aircraft was reportedly encountering potential icing conditions before the crash occurred. Rescuers are working to identify the victims, while experts warn that meteorological factors alone may not explain the crash's specifics. The investigation will also include a criminal probe to fully understand the incident.
Source: YAHOO
Reported 2 months ago
In uncertain market conditions, dividend-yielding stocks become attractive to investors. This article highlights insights from top Wall Street analysts on three defensive stocks known for high dividend yields: Altria Group (7.84%), Conagra Brands (4.70%), and Kraft Heinz (4.61%). While analysts maintain mixed ratings and price targets for these companies, they emphasize the current high-interest rate environment as an opportunity for income-seeking investors.
Source: YAHOO
Reported 2 months ago
Recent economic data, particularly the July jobs report showing a rise in unemployment and a slowdown in job creation, has led some economists, including those from J.P. Morgan, to increase the likelihood of a recession by year-end to 35%. While the Sahm rule indicates early recession signs, some analysts argue that broader economic indicators do not align with this prediction. Bank of America also highlights stable market conditions pointing away from a recession despite prevailing concerns.
Source: YAHOO
Reported 2 months ago
Tesla has stopped accepting orders for the cheapest Cybertruck version priced at $61,000, focusing instead on immediate sales of the $100,000 variant. Despite high initial reservations, demand appears lower than expected, with Tesla sold nearly 4,800 units in July. Deliveries for the truck, influenced by its unique design, began in November 2023 after several delays. The company is currently monitoring inventory closely amid shifting consumer interest.
Source: YAHOO
Reported 2 months ago
In Las Vegas, hackers gathered at the DEF CON conference to evaluate the security of a new online voting system called Secure Internet Voting (SIV), which enables voting via smartphones and computers. Despite its potential, SIV faces challenges due to widespread skepticism about online voting security, prompting its founder to advocate for advancements in technology that could make online voting more secure than traditional methods. Concerns persist over foreign cyberattacks targeting upcoming elections, leading SIV to offer prize money for identifying system vulnerabilities.
Source: YAHOO
Reported 2 months ago
Recent reports indicate that while consumers are still spending, they are becoming more selective in their choices. Major companies like McDonald's and Starbucks have seen declines in sales, prompting concerns about a potential recession. However, the overall economy remains strong, with significant job growth and wages surpassing inflation. Consumers are shifting toward establishments that offer better value and service, as seen with rising sales at dining locations like Texas Roadhouse. This behavioral change suggests a sector rotation rather than a decrease in consumer spending capacity.
Source: YAHOO
Reported 2 months ago
Goldman Sachs Chief Economist Jan Hatzius reveals that analysts have repeatedly misjudged the economy over the past five years, particularly during and after the COVID pandemic. He underscores three major forecasting errors: the underestimation of a V-shaped recovery post-pandemic, the unexpected inflation surge in 2021, and the belief that a recession was necessary to manage inflation. Hatzius also highlights lessons learned about market imbalances and labor market indicators, expressing cautious optimism that inflation can be reduced to target levels without leading to a recession.
Source: YAHOO
Reported 2 months ago
JPMorgan Chase has requested a U.S. court to dismiss its lawsuit against VTB Bank, claiming it was coerced into doing so after a Russian court injunction. The lawsuit originated from a dispute over $439.5 million in frozen assets linked to U.S. sanctions following Russia's invasion of Ukraine. JPMorgan asserts that VTB's actions influenced its decision in a manner not aligned with its interest.
Source: YAHOO
Reported 2 months ago
Prospect Capital Corp. has defended its 20-year track record against criticism regarding its payment-in-kind arrangements and reliance on individual investors for funding. The firm claims to have diverse funding sources and considers PIK arrangements as suitable for some borrowers. Despite concerns raised by analysts about its private credit fund and the sustainability of its hefty dividends, Prospect emphasizes its robust screening processes, low non-accrual loans, and strong credit ratings.
Source: YAHOO
Reported 2 months ago
As Vice President Kamala Harris and Minnesota Governor Tim Walz embark on their campaigns, their fiscal records highlight possible policy directions. While Harris is expected to align closely with President Biden's proposed tax increases and deficit reduction, her own fiscal record is less defined. In contrast, Walz has an established record of tax credits, increased taxes on high earners, and new funding initiatives in Minnesota, such as a significant child tax credit and a payroll tax for paid leave.
Source: YAHOO
Reported 2 months ago
Trump Media and Technology Group, the owner of Truth Social, announced a loss of $16.4 million for the second quarter, with revenue dropping 30% to $836,900 compared to the previous year. The losses were partly due to legal expenses related to a merger and costs associated with launching a new streaming service. Despite these challenges, the company claims to have no debt and sufficient capital to continue operations.
Source: YAHOO
Reported 2 months ago
Citigroup announced that its wealth management division will sell its trust administration and fiduciary services as part of a larger strategy to enhance focus on wealth structuring advice. This decision aligns with CEO Jane Fraser's efforts to improve the bank's performance and streamline operations in key growth areas.
Source: YAHOO
Reported 2 months ago
Activist investor Starboard Value has reportedly acquired a stake in Starbucks, aiming for the coffee company to address its declining stock price. While the size of the investment is undisclosed, Starbucks has faced recent sales challenges, particularly in the U.S. and China. Starboard has not yet communicated any demands to Starbucks, as the company is already in discussions with another activist investor, Elliott Investment Management.
Source: YAHOO
Reported 2 months ago
Recent market activity saw stocks experiencing significant volatility, culminating in a sell-off followed by relative stability. Nancy Tengler, CEO and CIO of Laffer Tengler Investments, stated that this pullback was overdue, offering an opportunity to invest in high-quality stocks. Despite concerns about future fluctuations, Tengler remains optimistic about a recovery driven by generative AI's impact on the economy.
Source: YAHOO
Reported 2 months ago
The FDA has rejected the use of MDMA as a treatment for PTSD, marking a significant setback for advocates seeking to use psychedelics for mental health. The agency requested further studies to address safety and efficacy concerns after a review uncovered significant limitations in the drug's application. Lykos Therapeutics, the manufacturer, expressed disappointment but plans to appeal. The decision follows a trend of increasing scrutiny on the use of MDMA and supports the continuation of psychedelic research for therapeutic purposes.
Source: YAHOO
Reported 2 months ago
Activist investor Starboard Value has acquired a stake in Starbucks, as reported by the Wall Street Journal. The move raises questions about how Starboard might influence Starbucks' future, especially amid challenges with sales in China.
Source: YAHOO
Reported 2 months ago
Streaming companies like Disney and Paramount recently reported earnings, showcasing some profitability, especially Disney's streaming segment. However, analysts note these companies struggle to compete with Netflix and face pressure from declining legacy businesses, which impacts their stock performance. Despite optimistic trends in streaming, maturity in the market is still a concern as they work to improve their overall business models.
Source: YAHOO
Reported 2 months ago
Anduril Industries, a defense tech start-up, recently raised $1.5 billion, pushing its valuation to $14 billion, and positioning it alongside major defense firms like Lockheed Martin. With the global defense sector booming due to conflicts in Europe and the Middle East, experts assert that the nature of warfare is shifting toward AI-driven and autonomous systems, signaling a significant evolution in military technology.
Source: YAHOO
Reported 2 months ago
Boeing has been awarded a $2.56 billion contract by the United States Air Force for the development and support of two rapid prototype E-7A AEW&C Wedgetail aircraft. The contract encompasses lifecycle development, training, and support for the U.S. E-7A fleet, following a deal announced last month.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Intel's stock price dropped 3.8% on Friday, continuing its significant downturn as the company announced the postponement of its Intel Innovation conference until 2025. This news follows disappointing second-quarter results and a decision to lay off 15% of its workforce as part of a cost-cutting plan. With the stock down 42% in the past month and 61% year-to-date, investor confidence has wavered amid growing competitive pressures and uncertainties about its future in the AI sector.
Source: YAHOO
Reported 2 months ago
The financial landscape is changing as positive economic news now directly benefits stocks, contrasting the previous notion where 'bad news was good news.' In a recent analysis, Yahoo Finance's Josh Schafer discusses the implications of upcoming economic reports, such as the CPI and retail sales, and their potential effects on the stock market.
Source: YAHOO