Reported 2 months ago
Intel (INTC) reported its second quarter earnings, revealing a drop in revenue and missing analyst expectations. The chipmaker announced a $10 billion cost-cutting plan that includes laying off 15% of its workforce and suspending dividend payments. Following the news, Intel's shares fell by over 16%. As the company attempts to regain market share lost to AMD and focuses on AI chip development, it faces challenges from increasing competition, especially from Qualcomm’s new chip offerings.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Gold prices have recently soared to new record highs, surpassing $2,500 an ounce, driven by geopolitical tensions and downbeat U.S. economic data. Analysts suggest that ongoing uncertainties, including conflicts in Europe and the Middle East, combined with the possibility of rate cuts by the Federal Reserve, are encouraging investors to flock to gold as a protective asset. Given the current economic landscape, gold could rise further, potentially reaching a trading range of $2,500 to $2,700.
Source: YAHOO
Reported 2 months ago
In the latest episode of Catalysts, hosts Seana Smith and Madison Mills discuss significant trends in AI investments and stock market movements, focusing on Meta Platforms exceeding earnings expectations. They also analyze the stock performance of Volkswagen, ConocoPhillips, and Anheuser-Busch InBev following their earnings reports, and delve into upcoming job data that could influence market conditions.
Source: YAHOO
Reported 2 months ago
Nvidia's stock fell as much as 7% on Thursday, reversing a significant rally from the previous day, in line with a broader decline across the tech sector due to weak economic data. The downturn surprised many following a strong report from AMD that had boosted confidence in AI investments. Despite concerns, analysts maintain that Nvidia remains well-positioned for future growth, benefiting from substantial capital expenditures from major clients like Microsoft and Meta.
Source: YAHOO
Reported 2 months ago
Amazon's upcoming Q2 earnings report will shed light on consumer spending trends, particularly in e-commerce, where the company holds a significant market share. Analyst Ygal Arounian notes that while consumer strength is under pressure from inflation, spending patterns indicate a mixed landscape. Amazon's insights will be crucial for understanding the broader economic context.
Source: YAHOO
Reported 2 months ago
A recent report by Discover Personal Loans highlights that 80% of individuals are anxious about their finances, a trend driven by high inflation and rising everyday costs. Dan Nickele from Discover Personal Loans discusses effective strategies to alleviate financial stress, advising individuals to adopt a positive mindset, create a budget to track expenses, and utilize debt repayment methods such as the debt avalanche and debt snowball techniques. These approaches can help change one's outlook on managing debt and enhance overall financial health.
Source: YAHOO
Reported 2 months ago
With a rise in cyber attacks, especially linked to the upcoming Olympics in Paris, experts suggest safeguarding your data during major events. Ensure unique, strong passwords, enable two-factor authentication, and avoid scanning potentially malicious QR codes to protect yourself from cyber threats.
Source: YAHOO
Reported 2 months ago
Amid rising inflation and high prices for electric vehicles (EVs), many potential buyers are questioning whether now is an optimal time to purchase an EV. Industry expert Erin Keating from Cox Automotive highlights that despite Tesla's market share fluctuations, the overall EV market is stable with notable competitors emerging. She reassures buyers that there are significant incentives and attractive leasing options available for EVs, encouraging consumers to consider their ability to manage an electric vehicle without fear.
Source: YAHOO
Reported 2 months ago
Apple is set to announce its Q3 earnings, with a focus on iPhone sales in China, amidst competition from local brands like Huawei. Analysts predict EPS at $1.35 and revenue at $84.4 billion, a slight growth from last year. However, concerns linger as previous sales in China have declined, with estimates suggesting a 3.1% decrease in revenue compared to last year. Apple's performance in services and iPad sales may offset these losses, with expectations for growth in those sectors.
Source: YAHOO
Reported 2 months ago
As the 2024 Summer Olympics unfold in Paris, U.S. athletes have secured 31 medals, including six golds. This leads to the question of the actual worth of gold medals. Yahoo Finance's Ines Ferré examines the gold content and the financial rewards athletes receive for their victories.
Source: YAHOO
Reported 2 months ago
Arm Holdings saw its shares drop 16% after announcing a lackluster revenue forecast, raising concerns about its ability to capitalize on the AI technology boom. The company expects revenue between $780 million and $830 million for the upcoming quarter, falling short of analysts' expectations. Despite the dip, analysts maintain a majority 'buy' rating, citing strong growth in previous quarters and hopes that investments in artificial intelligence will eventually lead to higher sales.
Source: YAHOO
Reported 2 months ago
A recent report from The Senior Citizens League indicates that the purchasing power of Social Security benefits has decreased by 20% since 2010. Yahoo Finance's Kerry Hannon examines the inflationary effects on these benefits and their impact on retirees.
Source: YAHOO
Reported 2 months ago
U.S. stock markets are experiencing a downturn as concerns grow regarding the Federal Reserve's potential prolonged restrictive interest rates, triggered by disappointing manufacturing and jobless claims data. Investors are particularly focused on upcoming quarterly earnings from tech giants Apple and Amazon, alongside reports from Intel, Snap, and Coinbase due later today.
Source: YAHOO
Reported 2 months ago
Recent earnings reports from e-commerce platforms like eBay, Etsy, and Wayfair provide insights into consumer spending habits amid ongoing inflation. Analyst Ygal Arounian discusses how Etsy is currently positioned in a challenging consumer environment, highlighting shifts in spending towards essentials and discretionary items, indicating that while necessities hold strong, non-essential purchases are experiencing a downturn.
Source: YAHOO
Reported 2 months ago
Former President Donald Trump's net worth has decreased by $900 million since Vice President Kamala Harris entered the presidential race on July 21. Trump's stake in Truth Social, valued at over $4 billion before the announcement, has fallen to about $3.1 billion as the company's share price dropped by approximately 23%. The decline reflects both market volatility and Truth Social's struggles to attract users, as the platform's unique visitors have decreased significantly. Despite this downturn, some experts still consider Trump Media overvalued compared to traditional companies like JetBlue.
Source: YAHOO
Reported 2 months ago
Recent ADP data reveals a slowdown in private job growth for July, with only 122,000 new jobs added, which is below expectations. Career expert Andrew McCaskill highlights that many individuals are choosing to remain in their current roles, marking the end of 'The Great Resignation' and the beginning of 'The Great Stay.' He discusses the competitive nature of the job market and advises job seekers to focus on skill enhancement and clarifying their expectations from potential employers.
Source: YAHOO
Reported 2 months ago
As the Federal Reserve considers its first interest rate cut in September, experts predict that auto loan rates may decrease. Erin Keating from Cox Automotive explains that while the drop in auto loan rates may not be as significant as reductions in credit card rates, any decrease in interest rates could help consumers struggling with affordability manage their finances better.
Source: YAHOO
Reported 2 months ago
Mortgage rates have fallen to their lowest levels since early February, with the 30-year fixed-rate mortgage averaging 6.73%, down from 6.78% a week prior, as the Federal Reserve hints at a potential interest rate cut in September. Despite the drop, mortgage applications have decreased by 2%, reflecting ongoing challenges in affordability, although there are signs of easing home prices and increased housing inventory.
Source: YAHOO
Reported 2 months ago
Recent data from the US Department of Labor indicates that initial jobless claims have risen to 249,000 for the week ending July 27, marking an 11-month high. This surge raises questions about the current state of the labor market and what it means for both workers and job seekers. Wealth! anchor Madison Mills discusses the report and its implications in detail.
Source: YAHOO
Reported 2 months ago
In the current earnings season, the tech and chip sectors are experiencing a volatile market, with some companies reporting strong results yet seeing declines in stock prices. Harvest Portfolio Management's Paul Meeks suggests that investment in AI capital expenditures is a crucial factor, particularly noting that firms like Nvidia are likely to benefit significantly. As Meeks refrains from making further tech investments until the season wraps up, he emphasizes the uncertain nature of the market.
Source: YAHOO
Reported 2 months ago
Bond traders have fully priced in three interest rate cuts from the Federal Reserve this year, following positive economic data indicating a cooling labor market. The 10-year Treasury yield dropped below 4%, the lowest since February, and further data on U.S. employment will be closely monitored. Despite these expectations, financial experts warn that substantial cuts may be excessive without a significant economic downturn.
Source: YAHOO
Reported 2 months ago
ConocoPhillips reported a strong second quarter, posting an adjusted profit of $1.98 per share, surpassing expectations of $1.94. Additionally, the company slightly increased its capital expenditures guidance, indicating positive momentum moving forward.
Source: YAHOO
Reported 2 months ago
Recent data releases reveal increased jobless claims and a slowdown in manufacturing activity, signaling potential weaknesses in the economy as the Federal Reserve considers future interest rate cuts. Jobless claims rose to 249,000, the highest since August 2023, while the manufacturing PMI fell to 46.8, indicating further contraction. Fed Chair Jerome Powell acknowledged the shifting economic landscape, noting the urgency of monitoring both inflation and unemployment trends, as economists suggest that additional rate cuts may be necessary to support the slowing manufacturing sector.
Source: YAHOO
Reported 2 months ago
As the election day approaches, market volatility is a concern, although historical trends suggest that the election outcome may not significantly alter the economy's trajectory in the short term. Wells Fargo's Veronica Willis emphasizes focusing on broader economic expectations rather than short-term electoral effects for market stability.
Source: YAHOO