Reported 12 days ago
Fed governor Adriana Kugler expressed strong support for a recent 50 basis points rate cut and indicated her willingness for further reductions as inflation shows signs of cooling. In a speech at the Harvard Kennedy School, she emphasized that additional cuts may be appropriate if economic conditions continue to improve, reflecting consensus among many Fed officials who are monitoring inflation and employment data. While some members like Michelle Bowman preferred a smaller cut due to lingering inflation concerns, Kugler reinforced the need to balance disinflation efforts with economic stability.
Source: YAHOO
Reported 12 days ago
A recent analysis reveals that approximately 45% of Americans retiring at 65 may run out of funds, with single women at greater risk. Common pitfalls include inadequate tax planning, inefficient money withdrawals, failing to consider market conditions when withdrawing investments, and avoiding appropriate risk exposure during working years. Retirement experts suggest strategies like utilizing Roth IRAs and diversifying investments to secure financial stability in retirement.
Source: YAHOO
Reported 12 days ago
Elon Musk and Bernie Sanders have found common ground in their call for lower prices of the diabetes and obesity medication Ozempic. At a recent hearing, Sanders criticized drugmaker Novo Nordisk for charging U.S. patients drastically more than their German counterparts and urged the company to treat Americans fairly. Musk, who has been open about his own struggles with weight and is currently using Wegovy, another Novo Nordisk product, echoed Sanders' sentiments, highlighting the need for affordable access to life-saving drugs.
Source: YAHOO
Reported 12 days ago
At the annual Meta Connect event, Meta unveiled its new mixed-reality headset, the Meta Quest 3S, alongside stylish Ray-Ban Meta glasses. Tech Editor Dan Howley from Yahoo Finance provides insights into these innovative products and their market impact.
Source: YAHOO
Reported 12 days ago
The Dow Industrial Average retreated after reaching an all-time high, as investors await Friday's PCE report to gauge potential future Federal Reserve interest rate cuts. Attention is also on Micron Technology, which is set to release its fourth-quarter earnings after market close.
Source: YAHOO
Reported 12 days ago
Disney+ has begun cracking down on password sharing in the US, allowing users to add an extra member outside their household for a fee of $6.99 or $9.99 per month, depending on their subscription type. This move follows similar actions by Netflix and Warner Bros Discovery and comes as Disney looks to boost revenue amid growing pressure from shareholders for profitability. Additionally, Disney+ plans to raise prices across its streaming services later this year.
Source: YAHOO
Reported 12 days ago
Meta has unveiled significant upgrades for its Ray-Ban Meta Glasses, enhancing them with AI capabilities such as real-time translation, contextual awareness, and interaction features that can assist users in everyday tasks, like remembering where they parked or suggesting meals based on grocery items. These glasses, starting at $299, aim to provide smarter functionalities, comparable to smartphone AI applications, and also showcase a limited-edition transparent design revealing their internal components.
Source: YAHOO
Reported 12 days ago
Meta has unveiled impressive new capabilities for its Ray-Ban Meta Glasses, including live translation, contextual suggestions for dinner based on grocery items, and the ability to recognize landmarks. With prices starting at $299, these smart glasses compete with smartphone AI apps and feature a stylish new transparent design showing internal components. These updates highlight Meta's commitment to integrating advanced AI functionality into everyday technology.
Source: YAHOO
Reported 12 days ago
The stock market experienced a downturn as major indexes, including the S&P 500 and Dow Jones Industrial Average, slipped from record highs. The Dow fell about 0.7%, while the S&P 500 declined by approximately 0.2%. Concerns over the economy's health and debates regarding potential Federal Reserve rate cuts contributed to the market's mixed performance, alongside disappointing consumer confidence readings and a decline in new home sales amidst rising mortgage rates.
Source: YAHOO
Reported 12 days ago
In 2017, Jamie Dimon condemned Bitcoin, stating he would fire employees for holding it, calling the cryptocurrency 'stupid' and 'dangerous.' Despite his warnings of an impending collapse, a $1,000 investment in Bitcoin back then would now be worth approximately $14,574, highlighting its significant growth of over 1,357% contrasted with the 127.9% return from investing the same amount in the S&P 500 ETF.
Source: YAHOO
Reported 12 days ago
Target CEO Brian Cornell has successfully navigated the retailer through challenges, including a significant drop in profits due to retail theft, which cost the company $700M in 2022. Since Cornell took the helm in 2014, he has overseen a nearly 50% revenue increase; however, recent declines prompted Target to enhance security measures amid rising theft incidents. Cornell expresses optimism about the ongoing efforts supported by federal and local authorities to improve store safety and accessibility.
Source: YAHOO
Reported 12 days ago
Gold and silver prices have reached significant highs, with gold hitting record levels and silver achieving its highest mark since December 2012. However, market analysts anticipate potential pullbacks in the coming weeks, indicating a moment of 'upside exhaustion.' Investment strategies suggest taking profits now, as historical patterns indicate October is typically a down month for gold prices. Analysts recommend re-entering the market during any resultant dips.
Source: YAHOO
Reported 12 days ago
Ruth Jacks, head of Diverse Segments for Commercial Banking at Wells Fargo, discussed her journey of coming out in the workplace on Yahoo Finance's podcast 'Living Not So Fabulously.' Despite initially feeling the need to hide her LGBTQ identity from colleagues, particularly as she started her career in engineering among predominantly white male peers, Jacks found strength through community support after a personal tragedy. She emphasizes the importance of surrounding oneself with positive influences and encourages others to be open about their true selves.
Source: YAHOO
Reported 12 days ago
Flutter, the owner of FanDuel, forecasts that the US online gambling market will grow to over $63 billion by 2030, surpassing previous estimates of $40 billion. This growth is part of a larger projected North American market valued at $70 billion. The company plans to achieve significant revenue increases and anticipates a $5 billion share repurchase program. Flutter's CEO, Peter Jackson, emphasizes the company's leading position in the US gambling market as a key driver of this growth.
Source: YAHOO
Reported 12 days ago
X, the social media platform formerly known as Twitter, has released its first transparency report since being acquired by Elon Musk, revealing a significant uptick in content moderation. In the first half of the year, the platform suspended about 5.3 million accounts and removed or labeled over 10.6 million posts for violating its rules, a stark increase from the previous year. This report indicates ongoing concerns about the platform's management and content moderation policies under Musk's leadership.
Source: YAHOO
Reported 12 days ago
Ford and General Motors saw their stock prices drop by around 5% following a downgrade from Morgan Stanley analysts, who highlighted challenges such as high inventories, falling prices, and increased competition from both domestic and international automakers, particularly from China. Ford was downgraded to 'equal weight' with a target price cut to $12, while GM was downgraded to 'underweight' with a target price reduced to $42. In contrast, several car dealerships received upgrades due to their advantageous market positioning.
Source: YAHOO
Reported 12 days ago
A significant portion of working Americans feels unprepared for retirement savings, with experts advising a detailed evaluation of future budgets as retirement approaches, especially around age 50. It is important to consider factors like reduced commuting costs, possible relocations, Social Security benefits, and potential pension plans. Financial experts suggest withdrawing around 4% of one's portfolio annually as a sustainable strategy while de-risking investments by shifting funds from stocks to bonds. Alongside saving, individuals are encouraged to pursue life goals that bring joy and fulfillment beyond financial metrics.
Source: YAHOO
Reported 12 days ago
As sports betting becomes more popular in the U.S., many are using betting apps with hopes for quick money. However, this could lead to financial troubles. Janna Herron of Yahoo Finance explains that for each dollar spent on betting, households may cut back two dollars on investments, which can result in increased spending on entertainment and ultimately lead to severe financial issues like overdrafts and credit card debt.
Source: YAHOO
Reported 12 days ago
In a recent interview, Rolls-Royce CEO Chris Brownridge revealed a significant increase in demand for bespoke vehicles, highlighting that clients are increasingly seeking personal and emotional connections in their car designs. During the opening of the luxury automaker’s private office in New York, Brownridge mentioned that clients are motivated by unique possibilities and are requesting features that resonate with their individuality, moving beyond mere status symbols.
Source: YAHOO
Reported 12 days ago
Micron Technology's stock jumped 14% after exceeding analysts' revenue expectations for Q1, projecting $8.5 billion to $8.9 billion due to favorable pricing and strong demand for memory chips in AI data centers. CEO Sanjay Mehrotra noted this as a pivotal moment for the memory and storage sector, marking Micron's best competitive positioning in history. The company's recent performance provides insight into the semiconductor industry's recovery as expectations for AI-related technologies continue to rise.
Source: YAHOO
Reported 12 days ago
Nvidia's stock saw a boost of up to 3% following a report from Bain that forecasts unprecedented investments in AI data centers, potentially leading to costs rising from $1-$4 billion to $10-$25 billion for large facilities in the next five years. The report suggests substantial short-term benefits for data center operators as corporations and governments ramp up spending on technology infrastructure, indicating significant growth for Nvidia, which anticipates $10 billion in revenue from governmental AI investments in 2024.
Source: YAHOO
Reported 12 days ago
Source: YAHOO
Reported 12 days ago
Meta has introduced the Quest 3S mixed-reality headset, priced at $299, during its annual Meta Connect event. The Quest 3S offers the same functionality as the original Quest 3 but with a narrower field of view and a different design, while powered by the same Qualcomm Snapdragon XR2 chip. This new headset targets consumers new to mixed-reality applications, as Meta seeks to improve headset sales that have faced declines recently. The Quest 3 has also seen a price drop to $499, aiming to attract a broader audience in the mixed-reality market.
Source: YAHOO
Reported 12 days ago
Investor Ken Fisher argues that the pursuit of 'capital preservation' may hinder financial growth in retirement, as it often contradicts the necessary investments for long-term growth. He highlights that what many consider safe investments frequently fail to outpace inflation, risking purchasing power. Fisher asserts that while market volatility is perceived as a threat, it is crucial for achieving substantial returns. He advises investors to avoid products promising both safety and growth and instead embrace market fluctuations for better financial outcomes.
Source: YAHOO
Reported 12 days ago
With the holiday travel season approaching, Brian Kelly from The Points Guy shares essential tips for securing the best travel deals. He highlights that airfare prices are currently below 2019 levels and recommends booking Thanksgiving travel about 45 days in advance. For international flights, booking three months ahead is ideal. Kelly emphasizes the importance of considering all fees when calculating total travel costs and suggests using tools like Google Flights to monitor prices.
Source: YAHOO