Reported 11 days ago
US stock futures experienced a notable increase on Thursday, buoyed by strong economic indicators and a promising earnings report from Micron Technology, which raised its revenue forecast due to high demand for chips used in AI. Additionally, China's commitment to boost its struggling economy through new fiscal measures contributed to the optimistic sentiment, pushing futures for the Dow Jones, S&P 500, and Nasdaq up significantly. Traders also anticipate a potential interest rate cut from the Federal Reserve, further enhancing positive market conditions.
Source: YAHOO
Reported 11 days ago
The number of Americans filing for unemployment benefits fell to a four-month low last week, indicating a healthy labor market, as new data showed stronger corporate profits in Q2. Initial claims dropped to 218,000, lower than economists had predicted, while ongoing claims also saw a slight increase, suggesting a mixed picture for employment. Despite downward trends in job openings and hiring, the economy's resilience puts doubt on further significant interest rate cuts by the Federal Reserve.
Source: YAHOO
Reported 11 days ago
Oil prices fell over 3% following reports that Saudi Arabia intends to raise oil production, abandoning its $100-per-barrel price target. Brent crude settled down by 2.53% to $71.60, while U.S. West Texas Intermediate dropped by 2.90% to $67.67. This decision comes as OPEC+ prepares for an output increase in December, despite current market fluctuations fueled by overproduction concerns and weak demand recovery.
Source: YAHOO
Reported 11 days ago
The US economy registered a stronger-than-expected growth of 3% in the second quarter of 2024, surpassing economists' forecasts of 2.9%. This figure, confirmed by the Bureau of Economic Analysis, remains unchanged from previous estimates. The data indicates robust economic activity, with continued indications of stability in the labor market, despite recent interest rate cuts by the Federal Reserve aimed at sustaining growth.
Source: YAHOO
Reported 11 days ago
Micron Technology's stock surged 17% after reporting a first quarter revenue outlook of $8.5 billion to $8.9 billion, exceeding analyst predictions of $8.3 billion. The CEO highlighted increasing demand for memory chips, driven by the AI sector, and strong recovery in traditional markets. As Micron prepares for fiscal 2025, it anticipates significant growth in the high-bandwidth memory market, further reassuring investors amid a recovering semiconductor sector.
Source: YAHOO
Reported 11 days ago
Meta has unveiled its pioneering augmented reality glasses, Orion, at the Connect event, showcasing an ambitious prototype aimed at merging digital and real-world experiences. Despite the excitement, many questions linger regarding the project's feasibility and financial viability, as insiders reveal only a handful of working prototypes exist amidst escalating development costs and technical obstacles. CEO Mark Zuckerberg acknowledges the challenges but remains hopeful, dubbing Orion a 'time machine' that offers a glimpse into a promising future.
Source: YAHOO
Reported 11 days ago
Micron Technology's stock soared over 13% following a strong revenue forecast driven by high demand for its high-bandwidth memory chips, essential for generative AI technologies. This surge added over $14 billion to Micron's market capitalization, reflecting optimism for the tech sector as other chip companies also initially saw gains, despite some pullbacks due to a U.S. Department of Justice inquiry into a major client. Analysts noted a significant rebound in Micron's projected gross margins, further reinforcing positive market sentiment.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Accenture reported better-than-expected quarterly results, highlighted by a $4 billion share buyback, driven by robust demand for generative AI services. The company's generative AI bookings reached $3 billion for the year, significantly outperforming other business segments. Despite a 3.3% rise in shares following the announcement, future growth forecasts fell short of analyst expectations. Analysts predict a slow recovery for the IT services sector, affecting discretionary spending patterns.
Source: YAHOO
Reported 11 days ago
Silver prices soared to their highest since 2012, reaching $32.71 an ounce, while gold hit a new record of $2,685.58 as market expectations for Federal Reserve interest-rate cuts prompted a rally in precious metals. This year, silver has gained 37%, and traders anticipate increased industrial demand, especially as China's economy strengthens.
Source: YAHOO
Reported 11 days ago
Southwest Airlines has updated its forecast for revenue per available seat miles (RASM) for the third quarter, now expecting an increase of 2% to 3%, up from a previous outlook of flat to a decline of 2%.
Source: YAHOO
Reported 11 days ago
In a discussion with Melissa Pegus, a serial entrepreneur and investor, the key to startup success is highlighted as the ability to pivot quickly. Pegus explains that founders must seek substantial capital and achieve essential milestones while being ready to adjust their strategies in response to market demands. The conversation also touches on the significance of networking, fundraising, and the necessity of planning for exit strategies, underlining that a startup's journey involves not just innovation, but also flexibility and community connection.
Source: YAHOO
Reported 11 days ago
Whole Foods CEO Jason Buechel announced a significant price reduction on private-label items to counter competition from supermarkets. The grocery chain has increased promotions and reduced prices on about 25% of its products. These changes aim to attract inflation-sensitive shoppers while maintaining product quality and standards. Buechel highlighted the importance of adapting to consumer needs amid rising food prices, as Whole Foods expands its presence with new store openings in the coming year.
Source: YAHOO
Reported 11 days ago
In light of the booming AI industry, three tech stocks are highlighted for their potential over the next decade. Nvidia leads the AI chip market with a significant share and ongoing demand. Broadcom specializes in application-specific integrated circuits for AI, projecting substantial revenue growth. CrowdStrike stands out in cybersecurity, leveraging AI to enhance its security platform, which has shown promising customer adoption despite its higher valuation. These companies offer strong long-term prospects amidst ongoing competition in the tech sector.
Source: YAHOO
Reported 11 days ago
Accenture Plc reported fourth-quarter sales of $16.41 billion, surpassing analyst expectations. The company achieved adjusted EPS of $2.79 and generated $20.1 billion in new bookings during the quarter. Accenture declared a 15% increase in quarterly cash dividend and announced a $4 billion share buyback program. The company anticipates first-quarter revenues of $16.85 billion–$17.45 billion for fiscal 2025, along with an expected adjusted EPS range of $12.55–$12.91.
Source: YAHOO
Reported 11 days ago
Enbridge, a Canadian pipeline and utility company, has a remarkable track record of paying dividends for over 69 years and has continuously increased its dividend for the past 29 years. With a current dividend yield of 6.5%, Enbridge operates with a low-risk business model and a strong financial foundation, allowing it to comfortably pay and potentially increase its dividends in the future. The company boasts a robust pipeline of $24 billion in secured capital projects, expected to drive earnings growth, making it an appealing investment for those seeking dependable income.
Source: YAHOO
Reported 11 days ago
This article discusses two prominent high-yield dividend stocks: Verizon and Pfizer. Verizon offers a robust dividend yield of 6.07% with a strong market position and an 18-year history of dividend increases. Pfizer, with a 5.69% yield, is facing challenges yet maintains a solid pipeline of potential blockbuster drugs. Both stocks present attractive opportunities for investors seeking steady passive income.
Source: YAHOO
Reported 11 days ago
Wall Street indexes rose on Thursday, driven by Micron's strong revenue forecast, which reignited excitement around artificial intelligence. The S&P 500 reached a record high as optimism spread across the semiconductor sector, supported by positive labor market data. Investors are also bracing for potential interest rate cuts amidst strong economic signals.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Micron Technology's strong earnings report drives a rally in semiconductor stocks, lifting shares by over 10%. This uptick reflects broader market sentiment as investors keenly await fresh GDP and jobless claims data, which could impact future monetary policy decisions from the Federal Reserve.
Source: YAHOO
Reported 11 days ago
Micron Technology's stock is surging after the company reported better-than-expected fourth quarter earnings, driven primarily by strong sales in high bandwidth memory (HBM) chips. Following this performance, analysts are adjusting their price targets upwards, with forecasts reflecting confidence in Micron's competitive positioning in the semiconductor market, especially amidst a broader trend towards AI technologies. The company projected significant revenue growth from HBM sales in the upcoming fiscal year, despite a slump in traditional PC and smartphone chip sales.
Source: YAHOO
Reported 11 days ago
Donald Trump's legal team is appealing a significant $454 million civil fraud verdict connected to his financial disclosures in New York, arguing that the penalty, which incurs about $112,000 in interest daily, was improperly levied and filed too late by state authorities. The appeal, with critical timing ahead of the impending election, could take months to resolve, further complicating Trump's financial landscape as he navigates other substantial debts and fluctuating wealth linked to his media ventures.
Source: YAHOO
Reported 11 days ago
Source: YAHOO