Reported 3 months ago
Tariffs between the US and China have decreased more rapidly than Wall Street anticipated, leading to significant stock market gains. This decline, marked by a 90-day tariff pause, resulted in the S&P 500 and Nasdaq Composite indexes rising approximately 5% and 7%, respectively. Economists have noted that the effective US tariff rate is now nearly back to pre-trade war levels, which could provide substantial relief to consumer spending and bolster growth predictions for the latter half of the year.
Source: YAHOO
Reported 3 months ago
Nvidia CEO Jensen Huang stated there is no evidence that the company's AI chips are being diverted to China. He expressed confidence in trade partners and the integrity of their customers in self-monitoring compliance with regulations. Huang emphasized the size and complexity of Nvidia's hardware, making smuggling impractical, and welcomed the potential for increased trade with the Middle East following changes in US trade policies.
Source: YAHOO
Reported 3 months ago
The European Investment Bank (EIB) is initiating a project called 'Tech EU' aimed at enhancing Europe's capabilities in artificial intelligence and semiconductors, targeting €70 billion by 2027. This initiative is designed to improve the EU's competitiveness against global powers such as China and the U.S., ultimately seeking to attract €250 billion in long-term investments, including health technologies and critical commodities.
Source: YAHOO
Reported 3 months ago
A recent report highlights 13 careers that provide good salaries and job security without requiring a college degree, while also being resistant to AI replacement. The analysis from Resume Now emphasizes roles that demand significant human presence and interaction, such as flight attendants, electricians, and chefs. These jobs have median salaries exceeding $50,000 and involve skills that AI cannot easily replicate.
Source: YAHOO
Reported 3 months ago
Labubu, a quirky gremlin-like plush toy from China, has gained immense popularity among Gen Z and beyond, proving resilient despite tariffs and trade tensions. The palm-sized dolls, known for their playful designs, have become status symbols and are highly sought after, resulting in remarkable growth for their distributor, Pop Mart. Fans worldwide are captivated by their charm, leading to long lines at stores and significant online sales, all while the market for collectible toys continues to thrive.
Source: YAHOO
Reported 3 months ago
Palo Alto Networks is set to release its fiscal third-quarter earnings soon, with analysts largely optimistic about the stock's performance. Jefferies recently raised its price target to $225, citing the company's strong growth prospects and limited exposure to macroeconomic risks. Out of 18 analysts, 11 recommend a 'buy', predicting a revenue increase of 15% year-over-year, alongside rising profits.
Source: YAHOO
Reported 3 months ago
OpenAI is set to collaborate with Oracle in the establishment of a large-scale data center in the United Arab Emirates, which could become one of the largest in the world. The planned facility in Abu Dhabi is part of OpenAI's Stargate initiative aimed at enhancing AI infrastructure globally. Expected to span 10 square miles and utilize substantial power, this project indicates a significant move for both companies into the Middle East's AI space, with OpenAI potentially sharing the center's power capacity with multiple firms.
Source: YAHOO
Reported 3 months ago
Japan is considering subsidies for Tesla's electric vehicle charging stations as part of ongoing tariff discussions with the United States. Currently, subsidies are only available for the CHAdeMO charging standard, but the U.S. Trade Representative has raised concerns. Japanese negotiators are open to discussing reductions in U.S. tariffs on Japanese automobiles and parts, while aiming for full removal of these tariffs.
Source: YAHOO
Reported 3 months ago
Market analysts warn that President Trump's proposed tax bill, which could add $4 trillion to the U.S. deficit over the next decade, may lead to rising bond yields and new market volatility. As the bill advances, concerns over government spending sustainability and inflation may prompt bond investors to react, potentially causing yields on the 10-year U.S. Treasury to spike and approach critical thresholds that have historically triggered stock sell-offs. This situation could escalate into a 'nightmare scenario' where the bond market demands intervention from the Federal Reserve to maintain stability.
Source: YAHOO
Reported 3 months ago
BT is reportedly in advanced negotiations to sell its 50% stake in TNT Sports to Warner Bros Discovery, potentially concluding their involvement in sports broadcasting after over a decade. An announcement could occur as soon as next week, coinciding with BT's full-year results release.
Source: YAHOO
Reported 3 months ago
Walmart has warned shoppers that prices will rise due to high tariffs imposed by President Trump, particularly on goods from China. The company expects price increases on various products, including groceries, toys, electronics, and baby gear, starting in late May and continuing into June, impacting its primarily lower- and middle-income customers. The situation has already led to noticeable price hikes on toys and child products, with experts predicting further increases as tariffs remain a burden on the retail giant.
Source: YAHOO
Reported 3 months ago
European officials are uncertain about President Trump's next stance regarding Russia amidst the ongoing war in Ukraine. Recent talks in Turkey between Ukraine and Russia ended without a ceasefire agreement, leaving European leaders disappointed. While there was initial optimism over coordinated sanctions against Russia, Trump's unexpected push for direct talks between Ukraine and Russia has left European allies puzzled, leading them to question his commitment to a tougher approach against Putin.
Source: YAHOO
Reported 3 months ago
Nvidia CEO Jensen Huang announced that the company will not release another chip from the Hopper series for China after the H20 due to U.S. government restrictions. He emphasized that China is vital for Nvidia's growth and hinted at plans to offer a downgraded version of the H20 model to maintain sales in the competitive market.
Source: YAHOO
Reported 3 months ago
Moody's has downgraded the US credit rating from Aaa to Aa1, marking the loss of its last top credit rating and reflecting concerns over increasing debt and deficits. This follows similar actions by Fitch and S&P Global Ratings. The downgrade comes amid ongoing political conflicts around fiscal policies and heightened government spending, contributing to a yearly budget deficit nearing $2 trillion. While the White House criticized the decision as politically motivated, financial markets responded with rising Treasury yields.
Source: YAHOO
Reported 3 months ago
Nissan is reportedly exploring the closure of two assembly plants in Japan and various factories overseas, including in Mexico, as part of a significant cost-cutting strategy. The affected facilities may include Japan's long-established Oppama and Shonan plants, reducing domestic production to three plants. The company aims to consolidate operations globally, and although it has denied any official plans, these potential closures would mark its first domestic plant shutdown since 2001.
Source: YAHOO
Reported 3 months ago
Warren Buffett's Berkshire Hathaway has significantly increased its investment in Constellation Brands, Inc., raising its stake from 5.6 million shares to approximately 12 million, valued at $2.2 billion. This move reflects Buffett's confidence in the company, particularly in light of the growing popularity of its beer brands, such as Corona and Modelo. Following this development, the share price of Constellation Brands surged by over 4.5% in two days.
Source: YAHOO
Reported 3 months ago
Vietnam and the US engaged in direct ministerial-level talks to negotiate the reduction of a 46% tariff on Vietnamese imports, which poses a significant threat to Vietnam's economic growth. The discussions, held in South Korea, follow prior communications between trade officials and aim to strengthen bilateral trade relations. The US has delayed the tariff implementation until July, prompting Vietnam to take steps to decrease its trade surplus and adjust tariffs on goods destined for the US.
Source: YAHOO
Reported 3 months ago
In anticipation of unveiling their extensive tax cut plan, Republicans worked closely with former President Donald Trump, ensuring his influence shaped the legislation titled the 'One Big Beautiful Bill Act.' This bill includes promises from Trump's campaign, such as eliminating taxes on overtime, introducing a $10,000 tax break for auto loans on American-made cars, and creating tax-free 'MAGA accounts' for newborns. As debates continue, the bill aims for over $5 trillion in tax cuts, raising concerns among Republicans about the impact on federal deficits. Despite pushback from various factions within the party, Trump’s active involvement is expected to guide the bill through to completion.
Source: YAHOO
Reported 3 months ago
Source: WSJ
Reported 3 months ago
Source: WSJ
Reported 3 months ago
Fluence Energy, Inc. (FLNC) was upgraded by two analysts this week, with UBS raising its price target from $4.5 to $6 and RBC Capital increasing it from $6 to $7, both maintaining a Neutral rating. The upgrades were influenced by a trade truce between the US and China, boosting potential investor confidence. Despite a recent earnings report that exceeded expectations, Fluence has lowered its guidance due to economic uncertainty related to tariffs. The company's stock has surged over 18% this week as a result.
Source: YAHOO
Reported 3 months ago
South Bow Corporation (NYSE:SOBO) announced its Q1 2025 financial results on May 16, revealing an adjusted EPS of $0.47, surpassing expectations yet down 14.5% year-over-year. Revenue decreased by 8.5% to $498 million, impacted by operational challenges including a pipeline incident. Despite these setbacks, the company reaffirmed its EBITDA guidance for the year and declared a quarterly dividend of $0.50 per share.
Source: YAHOO
Reported 3 months ago
Moody's has downgraded the U.S. sovereign credit rating from 'Aaa' to 'Aa1' due to worries about the nation's escalating debt, which has reached $36 trillion. The decision reflects concerns over persistent fiscal deficits and increasing interest costs, and could complicate President Trump's tax-cutting efforts. Critics have labeled the downgrade as outrageous, arguing it indicates a misperception of U.S. backed bonds. This move follows similar actions by other credit agencies and may lead to higher borrowing costs amid ongoing uncertainty in U.S. financial markets.
Source: YAHOO
Reported 3 months ago
Tesla has implemented a new rule that prevents shareholders owning less than 3% of its shares, roughly equating to 97 million shares or about $34 billion, from suing its officers or directors. This decision comes after a recent law in Texas allowing companies to establish such thresholds to limit shareholder litigation aimed at protecting against abusive lawsuits. Previously, a lawsuit had been initiated by a shareholder holding just nine shares, highlighting a shift in the company's governance structure.
Source: YAHOO