Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Alamos Gold's CEO, John McCluskey, forecasts that gold prices could soar to at least $2,650 by the end of the year, driven by safe-haven demand amid geopolitical tensions, increased central bank purchases, and concerns over US debt. While the market witnessed a recent record high for gold, the company reported strong production and decreasing costs.
Source: YAHOO
Reported 2 months ago
The recent July jobs report indicated weaker-than-expected job growth in the US, with only 114,000 jobs added and unemployment rising to 4.3%. This situation has sparked discussions about the Sahm Rule, an economic indicator developed by Claudia Sahm, which signals a potential recession. The Sahm Rule is gaining attention as it relates to the current job market data.
Source: YAHOO
Reported 2 months ago
Arm Holdings has become a key player in the AI chip market, recently receiving a price target upgrade of $190 from Morgan Stanley, suggesting a potential 27% upside. After overcoming past challenges, Arm's revenues are booming due to the increasing demand for AI-powered services. With a significant market share and projected growth in the AI chip sector, investors may find Arm a compelling opportunity despite its high valuation.
Source: YAHOO
Reported 2 months ago
Senator Mark Kelly, a potential vice presidential pick for Kamala Harris, could resonate with voters anxious about inflation. Serving since 2020, Kelly has a history of supporting measures aimed at reducing gas and drug prices, reflecting his awareness of economic challenges. Known for his military and NASA background, his moderate policies may appeal to a wider electorate in the key swing state of Arizona, even as he faces the challenge of distinguishing himself in a crowded political landscape.
Source: YAHOO
Reported 2 months ago
Google has pulled an Olympics advertisement after backlash over its portrayal of AI assisting a child in writing a fan letter. Initially defending the ad as a means to inspire creativity, Google decided to phase it out following negative feedback. Critics expressed concern that the ad undermined a child's creativity and highlighted broader fears about AI's impact on creative jobs. This move follows similar criticism faced by Apple for a comparable ad earlier in the year.
Source: YAHOO
Reported 2 months ago
Character.AI has entered into a licensing agreement with Google, allowing the tech giant access to its chatbot technology. This deal also brings back Character.AI co-founders Noam Shazeer and Daniel De Freitas to Google, where they previously worked. Concurrently, Character.AI's general counsel Dominic Perella will step in as interim CEO. This partnership follows similar moves by Microsoft and Amazon, sparking regulatory scrutiny over big tech's acquisition of AI startups.
Source: YAHOO
Reported 2 months ago
Major stock indexes experienced a sharp decline following a disappointing jobs report for July. This downturn has triggered the Sahm-rule recession indicator while also influencing expectations for potential interest rate cuts by the Federal Reserve. Analysts are closely monitoring these developments for their impact on market dynamics.
Source: YAHOO
Reported 2 months ago
As the trading week concludes, investors should prepare for a busy upcoming week with significant earnings reports from major companies such as Walt Disney, Paramount, and Warner Bros. in the media sector, and key players like Eli Lilly and Novo Nordisk in healthcare. Additionally, financial markets will keep an eye on comments from Richmond Fed President Tom Barkin, scheduled for Thursday.
Source: YAHOO
Reported 2 months ago
Tesla's attorneys have requested a Delaware judge to overturn a decision that invalidated Elon Musk's expansive pay package, which could amount to $56 billion. The judge previously ruled that Musk manipulated negotiations with non-independent directors. Despite this, Tesla shareholders reaffirmed the pay package in a recent vote, which defense attorneys argue reflects shareholder democracy. The judge expressed skepticism, noting no precedent exists for such post-trial votes in Delaware law.
Source: YAHOO
Reported 2 months ago
Meta Platforms Inc. is in talks with Hollywood stars like Judi Dench, Awkwafina, and Keegan-Michael Key, offering them millions for the rights to record and use their voices in artificial intelligence projects. The negotiations have faced challenges, as Meta seeks extensive usage rights, while representatives for the actors demand stricter limits. This initiative is part of Meta's plans to develop AI tools ahead of its Connect 2024 event, with potential applications including a digital assistant chatbot.
Source: YAHOO
Reported 2 months ago
As markets grapple with disappointing jobs data, Essex Investment Management's Nancy Prial discusses the resilience of small caps in a potentially slowing economy. She highlights that while concerns about recession persist, a less severe downturn combined with decreasing inflation and lower interest rates may create favorable conditions for small caps to thrive.
Source: YAHOO
Reported 2 months ago
The utilities sector has shown resilience during recent market volatility, with analyst Bret Kenwell noting factors like projected earnings growth, attractive valuations, and the likely upcoming interest rate cuts as catalysts for further gains. Despite current trends favoring small caps, Kenwell anticipates a rotation back to major tech stocks soon, reflecting ongoing investor interest in stable sectors like utilities.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
AMC Entertainment saw a rise in after-hours trading, having reported second-quarter earnings that matched revenue estimates and showed a smaller-than-expected loss per share. CEO Adam Aaron noted that despite a slow start due to Hollywood strikes, the quarter ended strongly thanks to the success of Disney’s 'INSIDE OUT 2'. Key figures included revenue of $1.03 billion and an adjusted loss per share of $0.43, which was better than the projected loss of $0.50.
Source: YAHOO
Reported 2 months ago
Chevron reported a revenue of $51.18 billion for Q2 but failed to meet earnings expectations, resulting in a downgrade to 'Hold' from 'Buy.' The earnings per share came in at $2.55, below the anticipated $2.93, and concerns over a protracted delay in acquiring Hess due to an ongoing arbitration case with ExxonMobil contributed to the downgrade. In contrast, ExxonMobil had a successful quarter by exceeding its earnings expectations.
Source: YAHOO
Reported 2 months ago
The US stock market experienced a significant downturn on Friday, with all three major indexes dropping sharply as investors reacted to a series of disappointing economic indicators and poor earnings reports from major tech firms like Amazon and Intel. The Dow plunged nearly 1,000 points, while the S&P 500 and Nasdaq Composite faced steep declines, raising concerns about the overall health of the economy and its potential impact on future Federal Reserve rate cuts.
Source: YAHOO
Reported 2 months ago
Despite concerns stemming from recent earnings reports and indications of a cooling labor market, Baird Investment Strategist Ross Mayfield asserts that the U.S. is not on the verge of a recession. He emphasizes the possibility of a 50 basis point rate cut by the Federal Reserve as discussions for their September meeting approach. Mayfield suggests that while the sell-off in stocks may have further to decline, he remains optimistic about market recovery.
Source: YAHOO
Reported 2 months ago
The Sahm rule, formulated by economist Claudia Sahm, traditionally indicates a U.S. recession when the unemployment rate averages half a percentage point above its lowest point in the past year. Recent job reports suggest a rise in unemployment from 4.1% to 4.3%, meeting the rule's criteria; however, economists believe the rule may not apply currently due to unique economic conditions shaped by the COVID-19 pandemic and resulting labor market fluctuations. Despite the rise in unemployment, layoffs remain historically low, with many companies reluctant to cut staff after experiencing labor shortages. Sahm has indicated that a recession is not imminent, pointing to normalization in the labor market.
Source: YAHOO
Reported 2 months ago
Following a disappointing July jobs report, JPMorgan and Citigroup have projected the Federal Reserve will implement a 50 basis points rate cut in September. UBS's Jason Draho also anticipates a total of 100 basis points in cuts, beginning with the September adjustment. For further insights, check out the full episode of Market Domination.
Source: YAHOO
Reported 2 months ago
Intel's stock price plummeted over 26% in a single day, marking its worst trading performance in 40 years, following disappointing second-quarter earnings and news of workforce reductions. The company anticipates third-quarter revenues between $12.5 billion and $13.5 billion, falling short of expectations. As part of a restructuring strategy, Intel is cutting 15% of its workforce and suspending dividend payments, all while facing stiff competition in the PC chip market and a significant overhaul to reclaim its position in the industry.
Source: YAHOO
Reported 2 months ago
US stocks saw significant losses on Friday, with the Nasdaq entering correction territory and the Dow falling over 600 points following a disappointing July jobs report. The report indicated slower job growth and an increase in unemployment, raising fears of a potential recession and speculation that the Federal Reserve may have delayed necessary rate cuts. Major technology stocks, particularly in the semiconductor sector, also experienced sharp declines.
Source: YAHOO
Reported 2 months ago
The stock market has experienced a significant drop following disappointing labor reports, with the S&P 500 falling 3.2% and the Nasdaq Composite dropping 4.7%. Weak economic indicators suggest a potential recession, raising investor concerns and prompting a reevaluation of economic strategies. Defensive sectors performed better, while bond yields fell as expectations for Federal Reserve interest rate cuts increased significantly.
Source: YAHOO
Reported 2 months ago
Nvidia's stock fell nearly 2% as the chip sector faced a significant downturn, led by a shocking 26% drop in Intel's shares after it announced disappointing results and job cuts. The tech market was pressured by a weaker jobs report indicating slowing growth and rising unemployment. The broader tech index, including Nvidia, is set to end the week in negative territory, raising concerns over the sustainability of AI investments amid scrutiny from the Justice Department.
Source: YAHOO
Reported 2 months ago
The recent weak jobs report has triggered the Sahm Rule, a historically accurate recession indicator, signaling potential economic downturn. However, its creator, Claudia Sahm, urges calm, highlighting positive economic indicators such as growing household income and consumer spending. She believes this time could differ due to varying labor market conditions and emphasizes that while concerns exist, it's essential to avoid panic as the economy shows some resilience. Sahm also suggests that an interest rate cut from the Fed may be necessary to support labor market stability.
Source: YAHOO