Reported 3 months ago
Marriott International's second quarter results showed mixed outcomes, with revenue of $6.44 billion falling short of expectations, despite adjusted earnings per share surpassing projections. The company's decision to lower its full-year growth guidance for room revenue led to a decline in its stock price during Wednesday's trading.
Source: YAHOO
Reported 3 months ago
Arm Holdings' shares plummeted 11% after the company released a cautious revenue forecast despite reporting a 39% increase in first-quarter revenue, primarily due to significant licensing deals. Investors remain concerned about slower returns from the booming AI sector compared to rivals like Nvidia, leading to a substantial market value drop. Although Arm benefits from licensing activity linked to AI, it cautions that substantial earnings from these deals may take years to materialize.
Source: YAHOO
Reported 3 months ago
Meta, the parent company of Facebook and Instagram, reported earnings of $5.16 per share on revenue of $39.07 billion, surpassing analysts' expectations for Q2. However, the company forecasts significant capital expenditure growth in 2025 due to increased infrastructure costs, as indicated by CFO Susan Li. Meta's Family of Apps revenue also exceeded estimates at $38.72 billion. Meanwhile, the Reality Labs segment continues to face challenges, recording a loss of $4.49 billion.
Source: YAHOO
Reported 3 months ago
Nvidia's stock rose by over 12% on Wednesday after better-than-expected quarterly results from AMD alleviated fears about the AI sector's future. Enhanced investment from Big Tech companies like Microsoft in AI infrastructure also contributed to the rally. Morgan Stanley upgraded Nvidia to a 'Top Pick' following a significant previous decline, citing strong earnings prospects despite some competitive and market concerns. Nvidia's stock has increased more than 135% this year, significantly outperforming the Nasdaq.
Source: YAHOO
Reported 3 months ago
Qualcomm Inc. forecasts strong revenue for the current quarter, predicting between $9.5 billion and $10.3 billion, as demand for smartphones rebounds. The company reported a profit of $2.33 per share for the previous quarter, with growth in phone-related revenue and a significant surge in automotive sales. This positive outlook signals a potential recovery in the smartphone industry, particularly supported by increased consumer spending in China.
Source: YAHOO
Reported 3 months ago
Boeing has appointed former Collins Aerospace CEO Robert Kelly Ortberg as the new chief executive, succeeding Dave Calhoun. Analysts anticipate that Ortberg's extensive background in aerospace and defense will bring about positive changes within the embattled company, which has faced significant controversies and financial losses. He begins his role on August 8, 2024, amid hopes for a turnaround in Boeing's fortunes.
Source: YAHOO
Reported 3 months ago
After the Federal Reserve decided to keep interest rates unchanged, strategist Ann Berry expressed skepticism about a potential rate cut in September. She noted that there were no clear catalysts indicating a rate reduction and emphasized concerns over the Fed's large balance sheet and ongoing fiscal policies, suggesting that rates may remain stable rather than decreasing.
Source: YAHOO
Reported 3 months ago
Source: INVESTORS
Reported 3 months ago
Grayscale has launched its Bitcoin Mini Trust ETF, trading under the ticker BTC, with an expense ratio of just 0.15%. This new product offers a lower-cost option for investors seeking Bitcoin exposure and is essentially a spin-off of the Grayscale Bitcoin Trust (GBTC). With increasing interest in cryptocurrency ETFs, the Mini Trust aims to provide a more accessible investment vehicle, amidst a highly competitive market.
Source: YAHOO
Reported 3 months ago
The Federal Reserve has paused interest rate hikes following 11 increases aimed at combatting inflation, which peaked at 9.1% in June 2022. With rates currently stable, checking and savings accounts see slight increases in interest rates, while high-yield savings accounts and CDs benefit more significantly. Conversely, personal loans and mortgage rates remain elevated, with the average credit card interest surpassing 21%. As consumers adapt, it's advisable to shop for the best savings rates and prioritize credit card payments due to the high interest.
Source: YAHOO
Reported 3 months ago
The Federal Reserve has chosen to keep interest rates steady, with mixed opinions on its approach. EY's chief economist, Greg Daco, advocates for a forward-looking stance, highlighting the need for revisions in monetary policy due to a cooling labor market and inflation nearing the 2% target. In contrast, Jeff Klingelhofer from Thornburg Investment Management believes the Fed acted correctly, warning against premature assumptions of disinflation amidst economic weakness. Their discussion examines the consequences of maintaining current interest rates and the potential of artificial intelligence in market growth.
Source: YAHOO
Reported 3 months ago
The US Federal Reserve has decided to keep interest rates steady at 5.25% to 5.5%, with indications from officials suggesting that potential rate cuts may occur later this year, depending on inflation trends. Fed chair Jerome Powell expressed cautious optimism, noting that if inflation continues to decline as expected, a rate cut could be on the agenda for the September meeting. The labor market is stabilizing, further influencing the Fed's considerations as it balances its dual mandate of controlling inflation and supporting employment.
Source: YAHOO
Reported 3 months ago
A 28-year-old motorcyclist was killed in Seattle when a Tesla Model S in 'Full Self-Driving' mode collided with him. The 56-year-old driver, who was reportedly using his phone at the time, has been arrested for vehicular homicide. This incident raises concerns about the limitations of Tesla's camera-only technology, which is heavily reliant on active driver supervision despite the company's claims. The National Highway Traffic Safety Administration is investigating the incident, marking a critical point for Tesla's self-driving technology amidst ongoing scrutiny.
Source: YAHOO
Reported 3 months ago
The Federal Reserve is currently maintaining interest rates but remains open to a potential cut in September. Fed Chair Jerome Powell is expected to provide insights on future monetary policy during the upcoming Jackson Hole Symposium. Former Atlanta Fed President Dennis Lockhart suggests that while opinions may vary among officials, there is overall strategic alignment within the committee regarding current policies.
Source: YAHOO
Reported 3 months ago
In the wake of recent earnings reports, Microsoft and AMD illustrate contrasting outcomes in the AI sector. Microsoft's stock fell 7% after a disappointing performance in its AI software sales and slowing Azure revenue growth, while AMD's shares surged over 3% thanks to booming chip sales in its Data Center segment. Investors are focused on the returns from substantial AI infrastructure investments, with AMD benefiting from increased demand for its AI chips as Microsoft's capital expenditures grow.
Source: YAHOO
Reported 3 months ago
The Federal Reserve kept interest rates unchanged on Wednesday but hinted at the possibility of a rate cut in September, citing progress on inflation and a slowing job market. Fed Chair Jerome Powell indicated that it is getting closer to the appropriate time for an adjustment, stating that the data could support a decision as soon as the next meeting. The current benchmark rate remains at a range of 5.25%-5.50%.
Source: YAHOO
Reported 3 months ago
The Federal Reserve decided to keep interest rates steady at 5.25%-5.50% during its latest meeting, but Chairman Jerome Powell indicated that a rate cut could be imminent if inflation continues to decline and economic conditions allow. The Fed is nearing confidence to lower rates, citing recent progress in moving towards its 2% inflation target. While acknowledging that key data will dictate future decisions, Powell suggested that cuts could be on the table for the upcoming September meeting.
Source: YAHOO
Reported 3 months ago
Research indicates that former President Donald Trump's critiques of specific industries lead to significant stock market downturns, a phenomenon dubbed the 'Trump dump.' This includes notable losses in the semiconductor and renewable energy sectors following his remarks. Experts warn that another Trump presidential term could further jeopardize market stability, as his economic policies have previously shown a tendency to cause sell-offs.
Source: YAHOO
Reported 3 months ago
In a recent appearance on Wealth!, Churchill Asset Management's Alona Gornick highlighted the unique opportunities in the private credit market, especially direct lending, which is essentially a simple, negotiated private loan between borrowers and capital providers. As the competitive landscape evolves, understanding the dynamics of private credit can be beneficial for investors looking to diversify their portfolios.
Source: YAHOO
Reported 3 months ago
The Federal Reserve decided to keep the federal funds rate unchanged at the July meeting, maintaining a target range of 5.25% to 5.5%. The committee noted improved balance in the risks to employment and inflation goals, indicating progress towards its 2% inflation target. The decision was unanimous, with alternate voting from Chicago Fed President Austan Goolsbee due to the retirement of Loretta Mester.
Source: YAHOO
Reported 3 months ago
Paul Pelosi, husband of Nancy Pelosi, recently acquired 10,000 shares of Nvidia, valued between $1 million and $5 million, while selling 5,000 shares of Microsoft in a bid to adjust his portfolio. These transactions come amid growing scrutiny of stock trading by members of Congress, leading to proposed legislation aimed at limiting such activities. Despite past criticism, Nancy Pelosi has shown some openness to restrictions on Congressional trading.
Source: YAHOO
Reported 3 months ago
In a recent episode of Catalysts, hosts Seana Smith and Madison Mills highlighted significant developments in the US housing market and semiconductor industry. Pending home sales increased by 4.8% in June, defying economist expectations, while the Federal Reserve's interest rate decision looms. They also discussed the rise of major stocks like Delta Air Lines, Altria Group, Mastercard, and Boeing, which announced a new CEO. Notably, AMD's strong earnings report has triggered a rally in the chip sector, as CFRA Research's Angelo Zino indicates continued AI-driven momentum in semiconductor stocks.
Source: YAHOO
Reported 3 months ago
As President Biden navigates his final months in office and the looming presidential election, escalating tensions in the Middle East present significant challenges. The recent killing of a top Hamas leader has heightened fears of Iranian retaliation, while Israel’s ongoing conflict with Hezbollah raises the stakes for U.S. involvement. These developments could complicate Biden's efforts to stabilize the region and have implications for Vice President Harris's electoral prospects. The president is tasked with managing these crises while preparing for what may be a contentious election period.
Source: YAHOO
Reported 3 months ago
The Morning Brief highlights significant events affecting the markets, including Boeing's decision to appoint Robert Kelly Ortberg as CEO following a turbulent year marked by mid-flight incidents and federal investigations. Meanwhile, escalating conflicts in the Middle East, particularly after the assassination of Hamas leader Ismail Haniyeh, have led to a rise in crude oil prices, drawing investor attention amid ongoing geopolitical tensions.
Source: YAHOO
Reported 3 months ago
US stocks experienced significant gains on Wednesday as investors reacted to the Federal Reserve's decision to maintain interest rates with hints of a potential cut in September. The Nasdaq rose over 2.6%, driven by a tech resurgence, particularly Nvidia, which soared more than 12% after a strong earnings report from AMD. Meanwhile, oil prices climbed due to geopolitical tensions in the Middle East, further adding to market volatility.
Source: YAHOO