Reported 14 days ago
Caroline Ellison, a former executive of the crypto firm FTX, is due for sentencing after pleading guilty to fraud and testifying against founder Sam Bankman-Fried. Meanwhile, Bytedance will close TikTok Music by the end of November, urging users to move their playlists to other services. Additionally, Levi's hints at a collaboration with Beyoncé as part of a new initiative.
Source: YAHOO
Reported 14 days ago
China's central bank has unveiled new stimulus measures aimed at combating deflation and energizing the economy. However, Charles Schwab's chief global investment strategist, Jeffrey Kleintop, cautions that these initiatives may not effectively support consumer needs, which represent a significant portion of the economy. He highlights that while there is urgency in the proposals, past attempts have not yielded lasting results, raising concerns about the long-term market impact.
Source: YAHOO
Reported 14 days ago
Intel has launched two new artificial intelligence chips, the Xeon 6 CPU and Gaudi 3 AI accelerator, aiming to enhance its data center business and compete with rivals AMD and Nvidia. The announcement coincides with rumors of potential acquisitions by Qualcomm and investments from Apollo Global Management in Intel. Despite the new chips promising improved performance, Intel's stock has fallen significantly this year, leading the company to redesign its strategy and seek major clients like Amazon and Microsoft.
Source: YAHOO
Reported 14 days ago
Homeowners insurance is essential for protecting your largest investment, but it does not cover everything. While it generally includes damage from incidents like fire, theft, or vandalism, there are significant exclusions. These include floods, water backups, earthquakes, issues due to neglect, and damages from certain pets or home business operations. It's crucial to understand what is not covered and to consider additional policies or amendments for specific risks.
Source: YAHOO
Reported 14 days ago
After a recent rate cut, Wall Street is optimistic about the S&P 500, as it reaches new highs and strategists are raising their price targets. Yahoo Finance's Josh Schafer discusses the implications of these changes for the market and the US economy.
Source: YAHOO
Reported 14 days ago
Home prices in the US reached their highest level ever in July, with the S&P Case-Shiller National Home Price Index experiencing a 0.2% increase from June, marking six consecutive monthly gains. Despite a downward trend in mortgage rates, affordability remains a significant challenge for buyers, as prices increased 5% year-over-year, with certain metropolitan areas like New York seeing even higher gains. However, sales activity remains subdued, as both buyers and sellers are hesitant amidst high prices and limited inventory.
Source: YAHOO
Reported 14 days ago
9月份，美國消費者信心指數出現三年來最大的降幅，讀數為98.7，低於8月份的105.6，顯示人們對於冷卻的勞動市場感到不安。此次調查的結果反映出消費者對現有商業和勞動市場條件的評價變得負面，且對未來商業與收入的看法亦變得愈加悲觀。隨著失業率持續攀升，顯示出招聘計劃減少的趨勢。
Source: YAHOO
Reported 14 days ago
The People's Bank of China has introduced a new stimulus package aimed at revitalizing the economy, resulting in a significant rally in Chinese stocks that has also positively impacted European luxury brands like LVMH and Hermès, as investors predict a surge in luxury goods demand in China.
Source: YAHOO
Reported 14 days ago
TikTok has announced it will close its music streaming service, TikTok Music, on November 28, just two years after its launch, as it shifts its focus towards collaborating with established platforms like Spotify and Apple Music. Users are encouraged to transfer their playlists by October 28, while the decision comes amid issues with record labels and a broader strategic change from competing with third-party services.
Source: YAHOO
Reported 14 days ago
Irene Tunkel, chief US equity strategist at BCA Research, argues that the Federal Reserve's ability to achieve a soft landing is more reliant on luck than skill. Tunkel emphasizes that while the economy currently appears stable, fragility in the job market raises concerns about its sustainability. Despite the Fed's recent 50 basis point rate cut, which has led to a surge in stock market indices, maintaining economic balance remains a complex challenge that could require a change in policy direction.
Source: YAHOO
Reported 14 days ago
In the latest financial news, Snowflake plans to raise $2 billion from convertible bonds and initiate a $575 million share buyback. Starbucks has been downgraded to Underperform by Jefferies, citing an overreaction to its new CEO. Meanwhile, shares of Trump Media continue to decline following a significant drop of over 10%, with investors awaiting updates on sales after a recent lockup period ended.
Source: YAHOO
Reported 14 days ago
Billionaire David Tepper sold 84% of his investment in Nvidia amid concerns about a potential AI bubble and increasing competition, instead directing his funds towards JD.com, China's second-largest e-commerce company, which he sees as a historically cheap cyclical stock with strong long-term growth potential. Tepper's strategy highlights a shift from a high-priced tech stock to an undervalued consumer cyclical stock amid a volatile market.
Source: YAHOO
Reported 14 days ago
In light of recent economic data and the Federal Reserve's first interest rate cut in four years, Wolfe Research's chief economist Stephanie Roth emphasizes the importance of the labor market over inflation. She argues that a weakening labor market poses a greater risk of recession than elevated inflation, suggesting that upcoming payroll figures will significantly influence the Fed's cutting decisions. Roth anticipates further interest rate cuts, foreseeing a potential decrease to 3% by the end of 2025.
Source: YAHOO
Reported 14 days ago
The People's Bank of China (PBOC) has announced a new stimulus package aimed at revitalizing the economy, marking its second largest effort since the pandemic. Following this news, Chinese stocks experienced a significant rally in pre-market trading. Yahoo Finance's Jared Blikre provides analysis on market reactions and the implications of this stimulus on global markets.
Source: YAHOO
Reported 14 days ago
Barclays has revised its forecast for Tesla's third-quarter deliveries to 470,000 vehicles, exceeding Wall Street's estimate of 461,000, which has positively impacted Tesla's stock price. Analyst Dan Levy points to two driving forces behind this increase: solid fundamentals and growing excitement over electric vehicles and artificial intelligence as the company approaches its October 10th robotaxi event. However, he expresses concern about Tesla's high valuation which may create discomfort among investors.
Source: YAHOO
Reported 14 days ago
The article discusses two stocks, Celsius Holdings and Dave & Buster's, which are currently undervalued despite facing recent challenges. Celsius, down significantly from its peak, has experienced slowed growth and reduced orders from PepsiCo, while Dave & Buster's has seen declining sales but is revamping its strategy. Both stocks present potential investment opportunities for those looking to buy while prices are low.
Source: YAHOO
Reported 14 days ago
Snapchat has announced its plans to integrate Google Gemini, Alphabet's artificial intelligence technology, to enhance its chatbot capabilities. This development is expected to impact both Snap and Alphabet significantly.
Source: YAHOO
Reported 14 days ago
Members of the machinists union have continued their strike after rejecting Boeing's 'final offer', which proposed a 30% pay raise over four years and an increased ratification bonus. The previous offer was a 25% pay increase. Yahoo Finance reporter Pras Subramanian provides further details on the situation.
Source: YAHOO
Reported 14 days ago
Visa stock has experienced a decline following reports that the Justice Department intends to pursue a lawsuit against the company due to antitrust concerns. Hosts Seana Smith and Brad Smith analyze the situation in detail.
Source: YAHOO
Reported 14 days ago
Elon Musk announced on X that his companies, including Tesla and SpaceX, are exploring investment opportunities in Argentina, which is a major lithium producer essential for electric vehicle batteries. Musk has expressed admiration for President Javier Milei's libertarian approach and hosted him at a Tesla factory earlier this year.
Source: YAHOO
Reported 14 days ago
The Dow Jones Industrial Average reached a new record shortly after the market opened, alongside gains in the S&P 500 and Nasdaq Composite. Investors expressed optimism following the recent Federal Reserve rate cut, contributing to the positive market sentiment. Expert analysts discussed the market movements on Yahoo Finance's Morning Brief.
Source: YAHOO
Reported 14 days ago
Billionaire investor David Tepper has dramatically increased his stake in ride-hailing company Lyft by 1,600%, buying 7.5 million shares last quarter. As the ride-sharing market is expected to surpass $200 billion by 2029, there are growing signs of recovery within Lyft's operations, with recent earnings reports showing an uptick in rides and profitability. Despite its smaller size compared to Uber, Tepper's investment suggests that Lyft could be a deep-value buying opportunity for investors seeking growth in a revitalizing economy.
Source: YAHOO
Reported 14 days ago
Stock futures are on the rise as investors await guidance from Federal Reserve officials regarding US monetary policy this week. China's stock market is experiencing its largest rally in over four years following new stimulus measures, including interest rate cuts. Meanwhile, Boeing workers have rejected the company's latest contract offer, which included a significant pay raise, causing the strike to continue into its second week.
Source: YAHOO
Reported 14 days ago
Federal Reserve governor Michelle Bowman expressed her concerns regarding the recent decision to cut interest rates by 50 basis points, arguing that such a significant reduction could signal economic fragility. She believes a more modest 25 basis point cut would be prudent, as rapid rate decreases may lead markets to expect similar future cuts while risking inflation due to unleashed pent-up demand. Despite other Fed leaders supporting the larger cut based on inflation trends and labor market conditions, Bowman remains cautious, emphasizing the risks of sustaining price stability amid high inflation and a robust job market.
Source: YAHOO
Reported 14 days ago
Donald Trump's proposal to eliminate income taxes on Social Security benefits has garnered significant voter support, with a recent poll indicating that 83% of respondents favor the plan. Although popular among retirees frustrated by existing taxes on their benefits, the proposal raises alarms about potential impacts on the already ailing Social Security system and federal budget. Critics argue that the $1.5 trillion tax cut could exacerbate the program's projected shortfalls within the next decade, while alternative plans suggest modifications that wouldn't carry such a hefty financial burden.
Source: YAHOO