Reported 10 days ago
China's industrial profits dropped sharply in August, marking the largest decline this year at 17.8% compared to the previous year. This downturn follows a slight increase in July and is attributed to weak market demand, adverse weather conditions, and a high statistical base from last year. The declining profits have exacerbated concerns about an economic recovery, leading to lowered growth forecasts amid stagnant domestic consumer demand. In response, the central bank has implemented significant stimulus measures aimed at boosting the economy.
Source: YAHOO
Reported 10 days ago
In a notable turn of events, Alibaba, JD.com, and Meituan saw their stock prices soar following China's announcement of new economic stimulus measures aimed at supporting struggling sectors. Both JD.com and Meituan recorded over 20% gains in trading, marking their best performance since 2022, while Alibaba gained 15%. The government's comprehensive measures included support for the property market and financial aid for distressed residents, instilling renewed investor confidence in tech companies.
Source: YAHOO
Reported 10 days ago
Oil prices stabilized after a steep drop, but are still on track for a major weekly loss, primarily driven by expectations of increased production from OPEC members, notably Saudi Arabia and Libya. Brent crude hovered around $72 per barrel, down about 3.5% for the week, while West Texas Intermediate fell below $68. Analysts suggest that a compromise in Libya could soon lift an export ban, potentially leading to oversupply in the oil market. Furthermore, ongoing tensions in the Middle East and impacts from Hurricane Helene have contributed to the volatility in oil prices.
Source: YAHOO
Reported 11 days ago
Chinese equities experienced their largest weekly rally since 2008, fueled by substantial investor activity and increased economic stimulus from the government. The CSI 300 Index rose 4.5% on Friday, contributing to a total weekly gain of 16%. This surge in trading overwhelmed the Shanghai stock exchange, highlighting a significant change in investor sentiment as fears of missing out intensified. The rally follows a series of monetary stimulus measures aimed at reviving the struggling housing market and boosting consumption, with hopes for a sustained recovery despite uncertainties surrounding China's broader economic plans.
Source: YAHOO
Reported 11 days ago
Asian stocks have extended their rally, driven by positive sentiment from both China and the US markets. Following significant stimulus measures from the People’s Bank of China and optimism regarding central bank easing, the CSI 300 Index recorded its best week since 2008. Meanwhile, Japan's yen strengthened after election results, and global markets are keenly anticipating upcoming economic data to gauge future interest rate trends.
Source: YAHOO
Reported 11 days ago
Peter Thiel has sold nearly $600 million worth of Palantir Technologies stock this week, pushing his total sales for the year to over $1 billion. Following the sale of more than 16 million shares, Thiel had previously disposed of 20 million shares earlier in the year. Though plans for further sales involving millions of additional shares were disclosed, the reason behind Thiel's sales and his future intentions remain unclear.
Source: YAHOO
Reported 11 days ago
David Rubenstein, co-founder of Carlyle Group and author of 'The Highest Calling,' shares insights from his interviews with past U.S. presidents, including Donald Trump, and discusses the Federal Reserve's expected rate cuts, which he believes will benefit the economy. He anticipates further tax cuts regardless of the election outcome, suggesting they may be more significant if Trump prevails. Rubenstein also highlights the importance of the presidency and its influence on attracting future leaders.
Source: YAHOO
Reported 11 days ago
Recent economic indicators suggest that the U.S. may be emerging from a prolonged economic slump, often referred to as the 'vibecession.' Gas prices are falling and stock markets are surging, contributing to improved consumer sentiment. With the Federal Reserve cutting interest rates, inflation normalizing, and low unemployment rates, there are positive signs for the economy despite ongoing housing challenges such as high prices and a shortage of supply. However, experts believe the housing crisis remains a significant hurdle that will take time to resolve.
Source: YAHOO
Reported 11 days ago
A Florida company led by former 'Apprentice' contestants, United Atlantic Ventures LLC, has sold nearly its entire 5.5% stake in Trump Media & Technology Group, which owns Truth Social. The firm was left with only 100 shares out of approximately 7.53 million. The sale follows a federal ruling in favor of UAV in a legal dispute regarding their investment.
Source: YAHOO
Reported 11 days ago
United Atlantic Ventures LLC, led by former 'Apprentice' contestant Andrew Litinsky, has sold 7.5 million shares of Trump Media & Technology Group. Following the sale, Litinsky now holds only 100 shares in the company.
Source: YAHOO
Reported 11 days ago
While Wall Street's 'Magnificent Seven' includes giants like Nvidia and Tesla, there are also seven private companies capturing investors' attention: SpaceX, OpenAI, Stripe, Databricks, Fanatics, Scale, and Rippling. These firms, which represent about 25% of the private market's valuation, are eluding public investment for longer periods, according to Forge Global CEO Kelly Rodriques. Many external investors are eager to access these names, highlighting their growing influence and size in the market.
Source: YAHOO
Reported 11 days ago
A report by Bain & Company indicates that the market for AI-related hardware and software is set to grow by 40-50% annually, potentially reaching around $990 billion by 2027. Yahoo Finance Host Julie Hyman discusses the findings, highlighting the increasing expenditures from companies of all sizes on generative AI.
Source: YAHOO
Reported 11 days ago
The S&P 500 has closed at an all-time high, marking a significant milestone in the stock market. This achievement comes amid ongoing analysis by financial experts, highlighting key market movements and trends. Josh Schafer from Yahoo Finance discusses these developments with host Josh Lipton, providing insights into what this means for investors.
Source: YAHOO
Reported 11 days ago
On Friday, the market will focus on the release of the August Personal Consumption Expenditures (PCE), which is expected to show core PCE at 0.2% and total PCE at 0.1%. Additionally, Fed Governor Michelle Bowman will speak, following her dissent during last week’s rate cut, while the final consumer sentiment for September is anticipated to rise to 69.4, indicating improved consumer optimism. The Yahoo Finance team will also keep an eye on Hurricane Helene's progression.
Source: YAHOO
Reported 11 days ago
Analyst Tim Nollen discusses the potential impact of Disney's upcoming ESPN direct-to-consumer service set to launch in August 2025, predicting it could significantly accelerate cord-cutting trends in the pay TV market. With sports content being a primary reason many consumers remain subscribed to traditional cable, Nollen suggests that the transition to a direct streaming model may push current cord-cutting rates from 8.5% to potentially 15%. He maintains a neutral stance on Disney's stock until there's more clarity on the new service's success.
Source: YAHOO
Reported 11 days ago
BlackBerry Ltd. reported a $19 million loss in its fiscal second quarter, equivalent to a loss of 3 cents per share. Adjusted earnings came to less than 1 cent per share, while revenue reached $145 million. For the upcoming quarter, the company forecasts earnings could range from a loss to a gain of 1 cent per share and expects revenue between $146 million and $154 million. Full-year projections also indicate losses and revenues between $591 million and $616 million.
Source: YAHOO
Reported 11 days ago
Costco (COST) released its fiscal fourth quarter results, surpassing earnings expectations but reporting revenue of $79.70 billion, which missed the estimated $79.96 billion. Additionally, membership fee income also disappointed investors, prompting closer scrutiny from analysts. Yahoo Finance Senior Reporter Brooke DiPalma elaborates on these results and their implications in the accompanying video.
Source: YAHOO
Reported 11 days ago
United Atlantic Ventures has drastically reduced its stake in Trump Media & Technology from over 7.5 million shares to just 100, following the lifting of selling restrictions. The firm had been one of the top shareholders, but shares have been volatile since Trump Media's market debut in March, leading to decreased value amid ongoing struggles.
Source: YAHOO
Reported 11 days ago
Former President Donald Trump has launched a new business venture by introducing the 'Official Trump Watch Collection' during his 2024 presidential campaign. The collection features watches, with the most expensive priced at $100,000, adorned with 122 diamonds. As Trump continues to blend his political and business interests, critics may question the ethics of monetizing his campaign. Although proceeds from the sales are claimed not to benefit his campaign directly, they operate under a licensed agreement allowing use of his name and image.
Source: YAHOO
Reported 11 days ago
Economist Lauren Saidel-Baker emphasizes that while rate cuts by the Federal Reserve may boost the real estate market, they won't resolve the long-standing housing shortages and affordability crises in the U.S. She points out that the country has under-built homes for over a decade and that new home construction has not kept pace with rising household formation. Ultimately, Saidel-Baker believes that no single policy can effectively address these deep-rooted issues, and ongoing economic pressures will persist.
Source: YAHOO
Reported 11 days ago
U.S. stock markets experienced a significant boost, with the S&P 500 closing at a record high of 5,745.39, thanks in part to positive GDP growth data and strong earnings from Micron Technology. The Dow Jones rose 0.62%, and the tech-heavy Nasdaq also saw gains. Investors reacted favorably to new stimulus measures announced by China to support its economy, while other chip manufacturers like AMD and Qualcomm benefited from Micron's strong performance. Upcoming economic reports are expected to further influence market trends.
Source: YAHOO
Reported 11 days ago
Bain & Company forecasts that the AI product market could grow by 40-50% yearly, reaching around $990 billion by 2027. David Crawford highlights three main growth areas: demand from hyperscalers, enterprise adoption of advanced models, and AI capabilities developed by independent software vendors. As generative AI gains traction, there will be a push for sovereign data ownership and control.
Source: YAHOO
Reported 11 days ago
Shares in China surged following commitments from political leaders to support the nation's economy. Major companies like Alibaba, JD, and Pinduoduo saw significant gains as the People's Bank of China introduced new stimulus measures aimed at revitalizing the struggling economic landscape.
Source: YAHOO
Reported 11 days ago
Costco reported mixed earnings for its fiscal fourth quarter, beating earnings per share estimates at $5.29 but missing revenue expectations at $79.7 billion. The company's same-store sales grew more than anticipated at 6.9%, driven by increased spending on non-food items as inflation eased. Despite the revenue miss, Costco's stock dipped only slightly by 1.4% post-earnings, reflecting overall positive trends, including a 19.5% boost in e-commerce sales.
Source: YAHOO
Reported 11 days ago
Costco's fiscal fourth quarter results were mixed, with earnings of $5.29 per share surpassing Wall Street's expectation of $5.07, while revenue of $79.70 billion fell slightly short of the $79.96 billion consensus estimate. Comparable sales in the U.S. also exceeded analysts' predictions.
Source: YAHOO