Reported 15 days ago
The US and China have officially signed a new trade deal, as announced by President Trump. While the agreement is confirmed, uncertainties linger regarding access to rare earth minerals, essential for US manufacturing. The deal's implications and the approaching July 9 tariff deadline are still unfolding, with officials suggesting that this deadline may not be as critical as initially perceived.
Source: YAHOO
Reported 15 days ago
Nike's shares surged significantly following its Q4 earnings report, which exceeded expectations despite a 12% drop in sales. Analysts reacted positively, raising their price targets based on improvements in revenue and inventory management. CEO Elliot Hill emphasized a turnaround plan, and investor optimism grew with potential relief from tariff pressures linked to China sourcing. Overall, the report indicated a cautious yet optimistic outlook for Nike's performance moving forward.
Source: YAHOO
Reported 15 days ago
In a recent discussion on Market Domination, Charles Sizemore, chief investment officer at Sizemore Capital Management, expressed his concerns about the current market's complacency and high valuations. He emphasized the uncertainty surrounding corporate profit growth amid ongoing economic challenges, suggesting that investors should focus on short-term trades or income-generating investments, particularly in conservative business development companies like Main Street Capital, which offers attractive yields.
Source: YAHOO
Reported 15 days ago
As the AI boom drives market enthusiasm, Intel may emerge as a significant player in the AI supply chain. Thomas Hayes of Great Hill Capital highlights Intel's readiness with manufacturing capabilities at a critical juncture, positioning it as a potential contributor to growing demand alongside Nvidia and others in the industry.
Source: YAHOO
Reported 15 days ago
Chinese copper smelters have reached a surprising agreement with Antofagasta to process copper concentrate at a processing fee of $0, marking a record low for the industry. This deal comes amidst a severe shortage in copper concentrate supply, which is crucial for the production increasingly needed for clean energy technologies. Despite the low fees, smelters have not significantly cut production due to revenue from byproducts offsetting some losses.
Source: YAHOO
Reported 15 days ago
The U.S. economy contracted by 0.5% in the first quarter, a decrease that was more severe than previously estimated.
Source: YAHOO
Reported 15 days ago
A key inflation metric increased in May, indicating that prices continue to rise persistently, even as Americans reduce their spending.
Source: YAHOO
Reported 15 days ago
The U.S. dollar is hovering close to a 3.5-year low against the euro and sterling as traders bet on potential rate cuts by the Federal Reserve amid ongoing trade negotiations and geopolitical tensions. With President Trump's upcoming decision on a more dovish Fed chair in focus, the dollar index has dropped significantly, prompting expectations for further easing. Meanwhile, emerging market currencies have shown strength as investors seek alternatives.
Source: YAHOO
Reported 15 days ago
Asian share prices soared to their highest level in over three years, spurred by a surge on Wall Street, while the U.S. dollar struggled due to concerns about the Federal Reserve's independence and expectations of upcoming rate cuts. Despite geopolitical tensions and trade uncertainties, global stock indexes are poised for a positive week, with significant gains in the Nikkei index and overall positive economic developments calming investor fears.
Source: YAHOO
Reported 15 days ago
A recent Reuters poll indicates that China's factory activity is projected to decline for the third consecutive month in June amid ongoing trade tensions with the U.S. The official purchasing managers' index (PMI) is expected to register at 49.7, slightly up from May but still below the growth threshold of 50. Weak domestic demand and a struggling property market contribute to this situation, prompting manufacturers to hesitate in addressing their inventories. Despite efforts to reform the economy from a manufacturing base to consumer-driven growth, analysts warn that significant changes may take years and could strain short-term economic performance.
Source: YAHOO
Reported 15 days ago
The Bank of Japan (BOJ) is increasingly cautious about further interest rate hikes, relying on obscure measures of underlying inflation that suggest weak consumer demand, despite headline inflation hitting multi-year highs. The BOJ's current measures of underlying inflation remain below its 2% target, complicating its communication and efforts to reset inflation expectations. With concerns about domestic consumption and global economic conditions, the BOJ has paused rate hikes but faces criticism for potential delays in addressing inflation risks.
Source: YAHOO
Reported 15 days ago
Redwood Materials has introduced an energy storage business, Redwood Energy, utilizing retired EV batteries to support AI data centers, beginning with a partnership with Crusoe. This innovative setup is part of a larger strategy to capitalize on the company's vast collection of used batteries, which it processes and repurposes to generate sustainable power. The company aims to roll out significant grid-scale storage solutions, potentially surpassing its core recycling operations in growth, while addressing a key challenge in the energy storage market.
Source: YAHOO
Reported 15 days ago
Prenuptial agreements aren't just for the wealthy; they're beneficial for anyone with assets, debts, or businesses before marriage. As societal views shift, younger generations increasingly recognize the value of prenups for protecting personal finances. Whether addressing asset distribution or debt responsibilities, these agreements ensure clarity and security for both partners, especially for those entering second marriages or with varying financial backgrounds.
Source: YAHOO
Reported 15 days ago
Audos, a new New York-based startup studio founded by Henrik Werdelin and Nicholas Thorne, plans to leverage AI to help launch 100,000 companies a year, democratizing entrepreneurship for everyday individuals without technical skills. The platform offers AI tools and a unique revenue-sharing model, rather than traditional equity stakes, to support business founders with customer acquisition and product development. Despite concerns about long-term costs and competition, Audos aims to empower non-traditional entrepreneurs and evolve the entrepreneurial landscape amidst economic changes.
Source: YAHOO
Reported 15 days ago
Mexico's bank regulator has intervened to temporarily manage three financial institutions following money laundering accusations from US authorities. The decision aims to safeguard customers amid potential implications for these banks. In response, the affected firms, including CIBanco and Intercam, have pledged cooperation. This intervention reflects ongoing concerns about the integrity of Mexico's banking system, particularly as the country deals with a legacy of banking scandals and demands for increased regulatory oversight.
Source: YAHOO
Reported 15 days ago
Nike shares surged after the company's quarterly earnings exceeded Wall Street expectations, reinforcing plans to address potential tariff impacts. Key price levels to monitor include resistance at $71, with additional thresholds at $79 and $89, as well as support near $59. Analysts suggest the stock's price momentum could build further in the upcoming trading sessions.
Source: YAHOO
Reported 15 days ago
Microsoft shares reached new all-time highs, fueled by optimism around its role in the AI field, with recent analyst upgrades raising price targets. The stock has shown strong momentum, maintaining a narrow ascending channel and indicating potential further gains. Key support levels to watch are at $468 and $425, as investors eye a projected upside target of $565 based on technical analysis.
Source: YAHOO
Reported 15 days ago
Woolworths, Australia's largest supermarket chain, has announced plans to close its majority-owned online platform MyDeal by the end of September to cut operating losses stemming from its marketplace division. The decision comes as a response to competitive market pressures, with the company projecting closure costs of up to A$100 million and significant impairment charges related to the website's assets. Analysts believe the shutdown will lead to a reduction in forecasted losses for Woolworths' MarketPlus segment.
Source: YAHOO
Reported 15 days ago
Asian markets are experiencing a significant rebound as investors shake off previous trade jitters and respond positively to solid growth prospects. The MSCI Asia equities index has climbed 25% to reach a four-year high, encouraged by a weakening dollar and investor confidence in Trump's flexible trade policies. The surge in demand for equity sales, especially in IPOs, has further marked the revival, with over $90 billion raised across the region this year. Despite potential volatility on the horizon due to trade negotiations, the region's economic resilience is evident, supported by significant inflows into Asian sovereign bonds.
Source: YAHOO
Reported 15 days ago
Minneapolis Fed President Neel Kashkari stated that while recent U.S. inflation data appears positive, the effects of tariffs may be postponed, necessitating a cautious approach to interest rate decisions. He noted that businesses are hesitant to pass on increased costs due to potential fluctuations in tariffs and emphasized the need for further assessment of tariffs' overall impact on the economy amidst ongoing trade negotiations.
Source: YAHOO
Reported 15 days ago
Goldman Sachs analysts have indicated that the options market reflects only a 4% chance of a disruption in oil supply through the Strait of Hormuz following the recent Iran-Israel ceasefire. After initial concerns raised Brent crude futures to $81.40, prices fell below $68 due to diminished geopolitical fears. Analysts predict a 60% likelihood that Brent crude will remain in the $60s over the next three months, with a potential price increase to $90 in case of a supply disruption.
Source: YAHOO
Reported 15 days ago
Travis Kalanick, the founder of Uber, is pursuing the acquisition of Pony AI's U.S. division, potentially with assistance from Uber itself, as reported by The New York Times. Pony AI, which went public last year with a market cap of approximately $4.5 billion, has been preparing for a sale since 2022. If successful, this acquisition would mark Kalanick's return to the autonomous vehicle sector since his departure from Uber in 2017.
Source: YAHOO
Reported 15 days ago
Core inflation in Tokyo decreased in June, influenced by temporary utility bill cuts, yet it remained above the Bank of Japan's 2% target. Rising service prices and high food costs, especially for staples like rice, reflect persistent inflationary pressures in Japan's economy. Market experts anticipate that this data will prompt the BOJ to consider further interest rate hikes in the near future.
Source: YAHOO
Reported 15 days ago
Oil prices steadied at the end of a turbulent week, shifting focus from Middle Eastern conflicts to U.S. tariff negotiations and potential easing of sanctions on Iran. West Texas Intermediate hovered around $65 a barrel, while Brent settled near $68. Following initial price spikes due to recent attacks on Iran, prices dropped after Tehran's responses didn't impact energy infrastructure and a ceasefire was declared. Key upcoming events include an OPEC+ meeting and a U.S. decision regarding 'Liberation Day' tariffs.
Source: YAHOO
Reported 15 days ago
US stock futures increased as investors anticipate an imminent interest rate cut from the Federal Reserve. The Dow Jones, S&P 500, and Nasdaq saw modest gains amid growing confidence following recent economic data indicating a softening labor market. Additionally, speculations surrounding President Trump's search for a new Fed Chair added to the optimism, while the upcoming PCE inflation report is highly awaited for clues on future rate adjustments.
Source: YAHOO