Reported 2 months ago
Despite the recent turmoil in the tech sector driven by stocks like Nvidia and Apple, expert analyst Gil Luria identifies Apple and Amazon as strong buying opportunities. Luria emphasizes that the current sell-off is mostly a result of algorithmic trading rather than a reflection of diminished value in these companies, highlighting that their potential for growth, especially in AI, remains robust.
Source: YAHOO
Reported 2 months ago
As expectations rise for a 50 basis point interest rate cut by the Federal Reserve in September, amidst signs of economic weakness, analysts are examining the potential effects on both the broader economy and individual financial situations. Experts discuss the implications of such a move during a recent episode of Wealth!
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Bitcoin has faced its worst week since the collapse of the FTX exchange, plummeting 20% and briefly dropping below $50,000. This recent decline followed optimistic investor sentiment sparked by hopeful regulatory prospects and SEC approvals for new ETFs. In contrast, Ether suffered even heavier losses of 27%. Despite the decline, Bitcoin remains up 27% since the beginning of the year, suggesting potential resilience in the crypto market.
Source: YAHOO
Reported 2 months ago
In a significant market sell-off on August 5, 2024, numerous online brokerage firms, including Charles Schwab, Fidelity, and Vanguard, experienced outages affecting thousands of users. Reports peaked around 10 a.m. ET, with customers unable to log into their accounts or access balances. Schwab acknowledged technical difficulties but confirmed the issue was resolved by early afternoon, while Fidelity noted intermittent problems that were also addressed. Vanguard has yet to comment.
Source: YAHOO
Reported 2 months ago
Secretaries of state from five U.S. states have called on Elon Musk to address issues with the AI chatbot Grok on the social media platform X, which has disseminated false information about the upcoming November 5 elections. Concerns over misinformation, particularly surrounding elections, have escalated since Musk's acquisition of Twitter. The officials noted instances where Grok provided inaccurate claims about Vice President Kamala Harris's ballot eligibility. They urged changes to ensure voters receive accurate information during this critical election year.
Source: YAHOO
Reported 2 months ago
Yahoo Finance discusses market corrections and their impacts on stock markets, with particular focus on the Nasdaq Composite's current correction phase driven by recession fears. Wealth host Brad Smith explains the concept and implications of market corrections, providing viewers with expert insights. For more details, viewers can watch the full episode of Wealth.
Source: YAHOO
Reported 2 months ago
Hedge fund Walleye Capital has laid off around a dozen employees, notably the head of equity capital markets and several members of its investment team, as part of a strategic reshuffle. The departures account for less than 3% of the firm's risk exposure, with a plan to appoint a new ECM head soon. Despite the cuts, Walleye anticipates a net gain of 7.3% to 7.7% for its multistrategy fund in the first seven months of the year.
Source: YAHOO
Reported 2 months ago
In July, the US services sector expanded modestly after a significant contraction in June, indicating resilience in the economy despite concerns about job growth and manufacturing. The ISM services index rose to 51.4, suggesting that employment and business activity are on the upswing. While the manufacturing sector remains weak, the rebound in the services index provides a cautiously optimistic outlook amidst looming recession fears.
Source: YAHOO
Reported 2 months ago
Tyson Foods (TSN) shares rose after a strong fiscal third-quarter report described by CEO Donnie King as a 'positive turnaround.' Lockheed Martin (LMT) was upgraded from Hold to Buy by RBC Capital Markets, while Mars is reportedly negotiating a $30 billion acquisition of Kellanova (K).
Source: YAHOO
Reported 2 months ago
Recreational marijuana sales will kick off in Ohio on Tuesday with nearly 100 medical dispensaries ready to sell. This follows the state's approval for adults over 21 to possess, purchase, and grow cannabis for personal use, featuring a regulated framework and a 10% tax on sales, which supports various community initiatives.
Source: YAHOO
Reported 2 months ago
A judge has approved SVB Financial Group’s restructuring plan, allowing the organization to resolve its bankruptcy by distributing assets to creditors. However, a pending dispute with federal regulators over around $1.93 billion in deposits held by the collapsed Silicon Valley Bank remains, as the judge declined to dismiss the FDIC's right to offset amounts owed to SVB.
Source: YAHOO
Reported 2 months ago
Executives from Boeing and Spirit AeroSystems will testify at a National Transportation Safety Board (NTSB) hearing regarding the January incident involving a door plug blowout on an Alaska Airlines 737 MAX 9, which had four missing bolts. The two-day hearing will address manufacturing and inspection processes, safety management, and quality control, with several FAA officials also appearing as witnesses. Boeing has faced scrutiny for its oversight practices and compliance issues, especially after previous fatal incidents involving the 737 MAX.
Source: YAHOO
Reported 2 months ago
During a global stock market selloff on Monday, retail brokerages Schwab and Fidelity faced technical outages affecting some clients, although both firms reported the issues were resolved by early afternoon. More than 15,000 users reported problems at Schwab, while Fidelity confirmed intermittent issues experienced by customers. The outages occurred amid market volatility triggered by disappointing U.S. jobs data and a significant drop in Japanese equities.
Source: YAHOO
Reported 2 months ago
Commodities such as copper, gold, and crude oil saw significant declines as a global financial meltdown escalated. Traders rushed to liquidate profitable positions and place bearish bets in response to alarming US economic data. Copper fell nearly 3.8%, and precious metals like silver dropped over 7%. Concerns about a potential recession are causing hedge funds to shift toward bearish positions, while gold, despite its usual safe-haven status, was also impacted as investors sought liquidity elsewhere.
Source: YAHOO
Reported 2 months ago
Global markets have plunged into selloff mode at the beginning of the week, reminiscent of historic market crashes like Black Monday in 1987. The volatility index has soared dramatically, driven in part by disappointing U.S. jobs data and rising Japanese interest rates, which have impacted asset values and liquidity. Notably, indices such as Japan's Nikkei saw a sharp 12% drop, mirroring significant declines across major global markets, with the S&P 500 and Nasdaq composite also experiencing substantial losses.
Source: YAHOO
Reported 2 months ago
On August 5, 2024, stock market indexes including the Dow Jones, Nasdaq, and S&P 500 saw dramatic declines, paralleling a significant drop in the cryptocurrency market with Bitcoin falling over 10%. This downturn affected several crypto-related stocks such as MicroStrategy, Robinhood, and Coinbase, leading to substantial losses. Yahoo Finance's Josh Schafer provides an analysis of the ongoing sell-off in the crypto sector.
Source: YAHOO
Reported 2 months ago
As the Nasdaq Composite Index experiences a correction, down 10% from its recent peak, investors are presented with a buying opportunity. Three stocks highlighted as worthwhile investments during this pullback include Alphabet, which shows steady growth in its search and cloud businesses; Meta Platforms, which continues to thrive with rising revenues and improved ad monetization; and MercadoLibre, demonstrating robust e-commerce and fintech performance despite the market's downturn.
Source: YAHOO
Reported 2 months ago
As stock markets drop, major tech companies like Microsoft and Alphabet are facing scrutiny over their recent earnings and high AI investment valuations. However, some investors see this pullback as a potential advantage, allowing these companies to stabilize and reassess their strategies for future growth. Yahoo Finance's Josh Schafer discusses the implications for the tech sector.
Source: YAHOO
Reported 2 months ago
In a recent analysis, Truist's Chief Market Strategist Keith Lerner discusses the current market turmoil, emphasizing that major indexes are declining as investors grow concerned about potential delays in rate cuts by the Federal Reserve. Lerner predicts a period of increased market volatility, attributing it to past rapid declines that leave investors in panic mode. He notes a tug-of-war between fear and greed, suggesting that investors should seek opportunities to buy the dip.
Source: YAHOO
Reported 2 months ago
Tyson Foods Inc. shares rose unexpectedly as the company reported quarterly earnings that exceeded analyst estimates, driven by a significant rebound in chicken profits. The company announced earnings of 87 cents per share for the three months ending in June, which is nearly six times higher than the previous year. Tyson's poultry segment achieved $307 million in operating profits, the highest for a fiscal third quarter since 2016, leading to a positive outlook adjustment for 2024. Despite challenges in its beef business, Tyson's overall performance reflects a recovery in the chicken industry aided by declining feed costs and increased consumer demand.
Source: YAHOO
Reported 2 months ago
On August 5, 2024, Wall Street experienced a severe stock market sell-off, with the Dow Jones Industrial Average dropping over 1,000 points and the Nasdaq Composite declining nearly 4%. This downturn was exacerbated by concerns regarding the US economy's health, following a lackluster jobs report and rising fears of a recession. Major tech stocks like Apple, Nvidia, and Tesla saw sharp declines, reflecting a broader trend of panic and volatility across global markets, including significant losses in Asian trading.
Source: YAHOO
Reported 2 months ago
The stock market is experiencing significant declines as investors react to a surprise interest rate hike in Japan and concerns about a weakening US economy. The Nasdaq fell about 3.5%, while the S&P 500 and Dow also saw losses, fueled by fears of rising unemployment and recalibrated expectations for Federal Reserve policy. Analysts suggest that recent sell-offs indicate a broader shift in market sentiment rather than a straightforward collapse, highlighting the sell-off of high-flying tech stocks.
Source: YAHOO
Reported 2 months ago
As equity markets face a significant downturn driven by recession fears, technical analyst Ari Wald recommends focusing on long-term growth opportunities, emphasizing the Nasdaq 100 as a better investment choice over small-cap stocks. With the CBOE volatility index reaching a four-year high, Wald indicates that this pullback could represent a temporary dip in an overall upward trend, suggesting a potential market low on the horizon.
Source: YAHOO
Reported 2 months ago
Palantir's stock (PLTR) experienced a drop on Monday morning amid a broader sell-off in the tech sector, just before the company is set to release its second quarter earnings results later today. Analysts, including Seana Smith and Josh Schafer, discuss the company's earnings expectations and its stock performance so far this year.
Source: YAHOO