Reported 2 months ago
Vice President Kamala Harris has reportedly selected Minnesota Governor Tim Walz as her running mate for the 2024 election, with an official announcement anticipated soon. Analysts are discussing the implications of this choice for the campaign, particularly in terms of strategies for securing swing states.
Source: YAHOO
Reported 2 months ago
Recent selloffs in the cryptocurrency market are testing the belief that Bitcoin functions as 'digital gold'. Unlike its previous behavior as a hedge against stock market volatility, Bitcoin has displayed a stronger correlation to stocks and significant price drops, raising questions about its role in investment portfolios. Analysts suggest that while Bitcoin's future potential as digital gold remains, it currently behaves more like a volatile asset subject to market fears and investor panic.
Source: YAHOO
Reported 2 months ago
Hims & Hers Health (HIMS) shares are down despite exceeding Q2 earnings estimates and boosting full-year guidance. FuboTV (FUBO) also faced a drop in stock price following a decrease in subscribers from 1.5 million to 1.45 million, although it surpassed expectations for the quarter. Conversely, Celsius Holdings (CELH) stock has risen due to increased revenue attributed to sales on Amazon and international markets.
Source: YAHOO
Reported 2 months ago
US stock markets are recovering after a sell-off driven by recession fears. Strategists Scott Wren and Seema Shah emphasize that while the market's reaction was understandable, the recession worries were exaggerated. They suggest that the economy's outlook may not be as dire as previously thought, and investors should consider repositioning their portfolios amid this volatility.
Source: YAHOO
Reported 2 months ago
Uber's stock saw a significant increase in pre-market trading after the company reported a 16% rise in revenue year-over-year, totaling $10.70 billion for the second quarter, exceeding estimates. The earnings report also highlighted adjusted earnings of $0.47 per share, surpassing the expected $0.39, indicating strong overall performance for the ride-sharing giant.
Source: YAHOO
Reported 2 months ago
Caterpillar (CAT) has released its second quarter results, showcasing stronger-than-expected earnings, but its revenue failed to meet Wall Street's projections. The company experienced lower volumes, although this was mitigated by higher pricing strategies.
Source: YAHOO
Reported 2 months ago
Palantir Technologies (PLTR) saw its stock rise in pre-market trading on Tuesday following a strong second-quarter earnings report, surpassing revenue expectations with $678 million compared to the anticipated $653 million. The company has also raised its full-year guidance, driven by high demand for its AI products, with CEO Alex Karp noting the significant transformation AI has brought to the business.
Source: YAHOO
Reported 2 months ago
US stock markets opened slightly higher on Monday, aiming to recover from a significant sell-off that occurred the previous day, resulting in a drop of over 1,000 points in the Dow Jones Industrial Average and a loss of $650 billion in market capitalization for major tech stocks.
Source: YAHOO
Reported 2 months ago
Recent sell-offs in mega-cap tech stocks have wiped out $650 billion in market cap, prompting investors to reconsider their positions in the Magnificent Seven and AI trades. Analyst Josh Schafer explores whether this downturn could signal a shift away from these investments or if it's an opportunity to hold for the long-term amidst market turmoil.
Source: YAHOO
Reported 2 months ago
Global markets have faced significant pressure recently, with implications for various currencies. Yahoo Finance's Jared Blikre discusses the effects on the US dollar and the Japanese yen, providing insights into how these fluctuations are shaping the financial landscape.
Source: YAHOO
Reported 2 months ago
US stocks are looking to recover after a significant sell-off, with the Dow Jones dropping over 1,000 points. A recent federal judge ruled that Google's search business violates antitrust laws, labeling it a monopoly. Meanwhile, Palantir's shares are gaining in pre-market trading following strong second-quarter earnings. Investors are keeping a close eye on Federal Reserve interest rate forecasts amidst ongoing market fluctuations.
Source: YAHOO
Reported 2 months ago
Mohamed El-Erian, Allianz's Chief Economic Advisor, warns that the Federal Reserve is lagging in cutting interest rates, suggesting that a premature cut could risk a recession by inducing consumer anxiety. He emphasizes that an intermeeting rate cut would indicate 'total panic' within the market, as economic slowdown is occurring faster than anticipated. El-Erian's insights reflect concerns about the potential for a negative feedback loop within the economy.
Source: YAHOO
Reported 2 months ago
Despite the overall market decline, Mark Newton from Fundstrat Global Advisors highlights potential investment opportunities in sectors like healthcare and industrials that have reached new highs. He suggests that the heavy focus on technology has clouded investors' view, but diversifying could reveal robust market areas. Additionally, Newton expresses optimism about the stabilization of assets like Bitcoin, suggesting that a recovery may be on the horizon.
Source: YAHOO
Reported 2 months ago
US markets are attempting to recover after experiencing their worst day in over two years, part of a global sell-off that particularly impacted Japanese stocks. Investors are increasingly concerned about a potential recession. Key earnings reports from Uber and Caterpillar are anticipated before the market opens, with additional results from Rivian, Reddit, and Airbnb expected later in the day.
Source: YAHOO
Reported 2 months ago
As the election approaches, analysts believe Tesla will thrive regardless of whether Trump or Harris wins the presidency. Alexandra Merz, CEO of L&F Investor Services, stated that Tesla is positioned to succeed under any administration, emphasizing its resilience against political changes.
Source: YAHOO
Reported 2 months ago
In a recent episode from Yahoo Finance, key industry leaders shared their insights on pressing business issues. Lemonade's CEO addressed rising insurance premiums, while T-Mobile's CEO discussed impacts of AI on their services. Other topics included health insurance perspectives on retirement, brand partnerships at the Paris Olympics, and consumer behavior trends in the US and China, concluding with discussions on financial education for college athletes.
Source: YAHOO
Reported 2 months ago
This week's global market chaos was partly triggered by the unwinding of carry trades, a strategy where investors borrow in low-interest currencies like the Japanese yen to invest in higher-return markets. As Japan raised its interest rates, the yen appreciated against the dollar, forcing traders to sell off risky assets to cover increased borrowing costs. While markets have since recovered some losses, the rapid sell-off highlighted the risks associated with this trading strategy, especially in volatile market conditions.
Source: YAHOO
Reported 2 months ago
The Biden administration announces a $2.2 billion investment to overhaul the national power grid, aimed at enhancing resilience against extreme weather events and supporting the increasing demand from data centers. This initiative, which will augment grid capacity by nearly 13 gigawatts, addresses the urgent need to reinforce America's aging electric transmission system as climate challenges intensify.
Source: YAHOO
Reported 2 months ago
Robinhood is expected to report record revenue in the second quarter, benefiting from a surge in trading of meme stocks and cryptocurrencies as retail investors return to the platform. The app saw a significant increase in equity trading volumes while crypto trading also experienced remarkable growth. Analysts project that Robinhood's revenue will rise by about 32%, driven by renewed interest in popular stocks and favorable market conditions for cryptocurrencies.
Source: YAHOO
Reported 2 months ago
Kenvue, the maker of Listerine, outperformed Wall Street's profit and revenue estimates for the second quarter, largely due to better-than-expected sales in its essential health products unit, which includes brands like Band-Aid and Carefree. The company reported $1.26 billion in revenue for this segment, up nearly 5% year-over-year, contributing to total revenue of $4 billion, surpassing analysts' expectations. However, other segments like skin health showed declines, prompting the company to increase its marketing budget to boost those sales.
Source: YAHOO
Reported 2 months ago
A surge in U.S. avocado imports is linked to widespread deforestation in Mexico's Michoacan state, where illegal farming practices threaten local ecosystems and communities. Lawsuits by the Organic Consumers Association allege that major U.S. companies falsely marketed Mexican avocados as sustainable despite environmental violations, sparking concerns over water depletion and organized crime harvesting resources in the region. As the avocado trade flourishes, it brings both economic growth and significant environmental and social challenges to Mexico.
Source: YAHOO
Reported 2 months ago
Caterpillar exceeded Wall Street's profit projections for the second quarter due to rising prices for their key products, despite a decline in demand in North America and other regions. The company's shares climbed 4% following an announcement of an adjusted profit per share of $5.99, outperforming analysts' estimates. However, there are concerns regarding softer order volumes, particularly in international markets like China, which have affected overall sales.
Source: YAHOO
Reported 2 months ago
Major brokerages, including JPMorgan, Citigroup, and Wells Fargo, have revised their forecasts to expect a 50 basis-point cut in interest rates by the Federal Reserve in September, following an unexpectedly high unemployment rate in July. This rise in unemployment, which reached 4.3%, has raised concerns over economic stability and potential recession risks, leading some financial institutions to predict multiple rate cuts before year-end.
Source: YAHOO
Reported 2 months ago
Gold prices remained steady as global stock markets regained stability after a significant selloff. Despite a sharp decline on Monday, gold is still up over 15% this year, bolstered by continued central bank purchases and positions seen as hedges against economic instability. Analysts from Goldman Sachs emphasize the metal's value as a portfolio hedge amid geopolitical and financial uncertainties.
Source: YAHOO
Reported 2 months ago
A ransomware attack targeting the data systems of Paris' Grand Palais and other museums in the Réunion des Musées Nationaux network was reported, impacting around 40 museums across France. Despite the breach, no disruptions were noted at the Summer Olympic events, which continue as scheduled.
Source: YAHOO