Reported 3 months ago
The Republican Party's recent tax and spending bill aims to reshape the Affordable Care Act (ACA) by introducing multiple reforms that could significantly reduce the number of insured Americans. Key changes include eliminating automatic annual coverage renewals, complicating off-cycle sign-ups, and imposing stricter rules on insurance subsidies, which experts suggest may leave about 4 million more people uninsured. While conservatives argue these measures address fraud concerns, critics warn that they could inadvertently lead to more Americans losing their health coverage.
Source: YAHOO
Reported 3 months ago
A growing number of housing economists are forecasting a decrease in home prices this year, with Redfin predicting a 1% drop and Zillow anticipating a 1.4% decline. This shift comes amid a weaker than expected spring for home sales, where increased inventory and rising mortgage rates contribute to a disconnect between sellers' expectations and buyers' willingness to purchase. While some markets continue to see price increases, others are experiencing declines, indicating a potential shift in the real estate landscape.
Source: YAHOO
Reported 3 months ago
The recent bond market sell-off has raised questions about the effectiveness of the traditional 60/40 portfolio allocation strategy. Financial advisor Jamilah McCluney suggests that despite market volatility, this allocation remains viable. She emphasizes the importance of a diversified approach, highlighting sectors such as gold and utilities as potential safe investments. Additionally, while tax cuts may initially boost consumer spending, concerns about social program cuts and rising interest rates may create longer-term uncertainty.
Source: YAHOO
Reported 3 months ago
President Trump has renewed his threats against Apple, warning of 25% tariffs on iPhones made abroad, echoing similar warnings he has issued since 2016. Despite these threats, no iPhones are currently manufactured in the U.S., and Trump's history shows he often does not follow through on such proclamations. Market reactions to his comments were evident as Apple’s stock dropped over 2%. Trump's current focus on tariffs appears influenced by recent investments in Indian manufacturing by companies like Foxconn.
Source: YAHOO
Reported 3 months ago
Quantum stocks such as D-Wave Quantum (QBTS) are experiencing a pullback after a recent rally, while MNTN's shares surged by 60% following its successful IPO. Despite Workday (WDAY) exceeding Q1 earnings expectations, its stock fell 11% due to disappointing subscription revenue forecasts, reflecting lower client spending.
Source: YAHOO
Reported 3 months ago
US stock markets, including the Dow Jones, Nasdaq, and S&P 500, fell at the market open after President Trump announced potential 50% tariffs on the EU. The markets observed significant declines across major sectors, particularly in consumer discretionary and technology, with key companies like Apple and Nvidia experiencing notable drops. Analysts are closely monitoring the impact of these tariffs on market dynamics.
Source: YAHOO
Reported 3 months ago
As President Trump's tariffs take effect, retailers like Walmart anticipate price hikes for consumers, while automakers, notably Ford, are set to increase the cost of certain models. Microsoft will also raise prices on Xbox products. Conversely, Home Depot has committed to keeping prices stable for its customers.
Source: YAHOO
Reported 3 months ago
President Trump has escalated trade tensions by threatening Apple with a 25% tariff if iPhones are not made in the U.S. He also proposed a 50% tariff on European Union imports starting June 1, citing difficulties in negotiations. Meanwhile, U.S.-China trade talks appear to be continuing as officials from both nations seek to maintain communication despite recent disputes.
Source: YAHOO
Reported 3 months ago
Target Corp. is experiencing its lowest analyst ratings since 2018 following disappointing earnings and a challenging economic climate. Major investment firms have downgraded their recommendations amidst concerns over declining consumer spending and tariffs. Target's shares have plummeted about 30% this year, significantly impacting its market capitalization. Analysts express uncertainty about the company's growth prospects, highlighting increased competition and the backlash against its diversity initiatives.
Source: YAHOO
Reported 3 months ago
Gold is on track for its largest weekly increase in over a month, rising towards $3,330 an ounce, driven by investor anxiety over the US fiscal deficit following Moody’s downgrade of the country’s credit rating. The metal's appeal has surged amid fears that President Trump's tax reforms will exacerbate the deficit, alongside consistent demand from central banks and geopolitical tensions. Despite a rising yield on US Treasuries, gold's relationship with yields has weakened, maintaining support for its price increase.
Source: YAHOO
Reported 3 months ago
Oil prices have continued to decline this week, with Brent crude falling below $64 a barrel, amid concerns over a potential trade war as US President Donald Trump proposed a 50% tariff on the EU. This drop in prices is compounded by the possibility of OPEC+ increasing oil supply quotas, alongside rising US commercial oil stockpiles. Market sentiment has turned bearish due to these factors, and a virtual meeting is scheduled for June 1 to discuss future supply levels.
Source: YAHOO
Reported 3 months ago
President Trump is escalating his trade war by threatening Apple with a 25% tariff if the company does not manufacture iPhones in the U.S. He has also proposed a sweeping 50% tariff on EU imports starting June 1, citing difficulties in negotiations. The EU has responded with a new trade proposal that includes phased tariff cuts and cooperation on energy and digital infrastructure, while preparing potential retaliatory measures worth $108 billion if discussions fail.
Source: YAHOO
Reported 3 months ago
Guests attending a dinner hosted by Donald Trump at his golf club faced protests from around 100 demonstrators who yelled 'Shame!' as they arrived. The event coincided with Bitcoin reaching record highs, and featured notable guests including NBA player Lamar Odom and crypto entrepreneur Justin Sun. Critics condemned the gathering for potential conflicts of interest, while Trump reiterated his commitment to making the U.S. a leader in cryptocurrency. The dinner was exclusive to top holders of Trump's memecoin, with many attendees reportedly coming from foreign exchanges.
Source: YAHOO
Reported 3 months ago
Tariffs imposed by the U.S. administration are severely impacting Japanese auto suppliers, compelling companies like Kyowa Industrial to diversify into medical devices. Industry leaders express deep concerns over the future, as the auto supply chain faces pressure amid competition from electric vehicle makers. Auto manufacturers such as Toyota, Nissan, and Ford are urged to support their suppliers while navigating the uncertainty brought by trade barriers, which could lead to higher vehicle prices and diminished sales in the U.S.
Source: YAHOO
Reported 3 months ago
Australia is experiencing relief from inflation through an influx of affordable Chinese goods from e-commerce platforms like Alibaba's Taobao and JD.COM. This shift aids consumers and policymakers as inflation slows and interest rates are cut. With a significant reliance on imports, the Reserve Bank of Australia anticipates that these cheap imports may lower inflation further, especially as the U.S. sees rising prices. The recent entry of these platforms into the Australian market aligns with broader trends of Chinese goods seeking new markets amid domestic economic slowdowns.
Source: YAHOO
Reported 3 months ago
US stock futures rose slightly as Wall Street reflects on President Trump's trade and tax policies. The Dow increased by 0.2%, while the S&P 500 futures also added around 0.2%. Despite easing trade tensions, concerns over high tariff rates and muted growth forecasts led to a market pullback earlier in the week. Major discussions around upcoming Nvidia earnings and legislative changes in the Senate will be pivotal for investor sentiment moving forward.
Source: YAHOO
Reported 3 months ago
Mexico's state-owned oil company, Pemex, is set to restructure its operations and potentially lay off more than 3,000 employees to achieve savings of approximately 10.5 billion pesos ($543.40 million). This move comes amid its status as the world's most indebted energy firm and follows a leadership change in its exploration and production sector.
Source: YAHOO
Reported 3 months ago
A U.S. judge has temporarily blocked President Donald Trump’s initiative to shut down the Department of Education, which included drastic staff cuts. The ruling by District Judge Myong Joun stated that such reductions would severely hinder the department's ability to fulfill its legal obligations, prompting the reinstatement of employees to manage federal student loans and uphold civil rights laws. The Trump administration plans to appeal the decision, arguing for the plan’s justification.
Source: YAHOO
Reported 3 months ago
On May 23, market watchers should focus on the latest US new home sales data, where forecasts predict a decline to an annualized rate of 695,000 amidst rising mortgage rates. Additionally, commentary from Federal Reserve leadership, including Governor Lisa Cook and Kansas City Fed President Jeffrey Schmid, will provide insights into monetary policy. The day also marks the release of 'Mission: Impossible – The Final Reckoning,' the highly anticipated eighth film in the franchise.
Source: YAHOO
Reported 3 months ago
The Republican-led Federal Trade Commission has voted to dismiss a lawsuit against PepsiCo, originally filed during the Biden administration. The suit, which claimed PepsiCo offered unfair price advantages to Walmart over other vendors, relied on the rarely enforced Robinson-Patman Act. The current FTC chairman criticized the lawsuit as a partisan move and indicated a desire to focus on more significant issues, while PepsiCo expressed satisfaction with the dismissal.
Source: YAHOO
Reported 3 months ago
A national security panel has provided a divided recommendation to President Trump regarding Nippon Steel's bid for U.S. Steel, although most members believe the associated security risks can be managed. The Committee on Foreign Investment in the U.S. submitted their findings after Nippon Steel increased its investment offer to $14 billion to secure approval. Trump now has 15 days to review the recommendations and decide on the deal's fate, previously blocked by Biden over national security concerns.
Source: YAHOO
Reported 3 months ago
UBS Global Wealth Management has increased its year-end target for the S&P 500 from 5,800 to 6,000 and set a target of 6,400 for June 2026. The firm also raised its 2025 earnings per share forecast for the S&P 500 to $260, anticipating a rise to $280 in 2026, citing better-than-expected first quarter earnings and improved GDP growth outlook.
Source: YAHOO
Reported 3 months ago
Sources indicate that Phillips 66 will begin laying off most workers at its Los Angeles-area refinery in December, following the announcement of its closure in October 2025. The facility, which employs about 600 people, has more than half of its workforce represented by the United Steelworkers Union. Some workers will be transferred to a marine oil terminal, while the company has pledged assistance during the transition.
Source: YAHOO