Reported 8 days ago
The Nasdaq and S&P 500 opened lower on Friday as positive momentum from President-elect Trump's victory wanes, influenced by Federal Reserve Chair Jerome Powell's suggestion that there is no rush to lower interest rates.
Source: YAHOO
Reported 8 days ago
Warren Buffett's Berkshire Hathaway has recently acquired significant stakes in Domino's Pizza and Pool Corp., investing $550 million for a 3.6% share in Domino's and $152 million for a 1% stake in Pool Corp, showcasing Buffett's optimism in consumer markets, especially in food and retail.
Source: YAHOO
Reported 8 days ago
Source: INVESTORS
Reported 8 days ago
U.S. stock futures drop as traders revise rate cut expectations following strong retail sales data and comments from Fed Chair Jerome Powell. Hedge funds are reducing their holdings in major tech companies like Amazon and Apple, while interest in Tesla and Rivian rises amidst concerns over potential changes to electric vehicle tax credits under President-elect Trump.
Source: YAHOO
Reported 8 days ago
At 67, having $2.5 million in cash and a $500,000 IRA may position you well for retirement, but careful financial planning is crucial. This includes balancing income sources like Social Security, IRA withdrawals, and investment returns against living expenses. Strategies such as downsizing or utilizing tax-efficient investing techniques can help extend retirement savings. Consulting with a financial advisor is recommended to ensure a secure retirement plan that accounts for potential risks and costs.
Source: YAHOO
Reported 8 days ago
General Motors is set to lay off nearly 1,000 workers globally, primarily in the U.S., as part of a strategy to streamline operations and reduce costs while focusing on electric vehicles and software development. The automaker aims to cut $2 billion to $4 billion in losses related to EVs in the upcoming year, following previous layoffs in its software division and a manufacturing plant.
Source: YAHOO
Reported 8 days ago
Hundreds of hospitality workers at Virgin Hotels Las Vegas have gone on strike, marking the Culinary Workers Union's first open-ended strike in 22 years. The workers are demanding a new contract with higher wages and better benefits, as negotiations have stalled over pay disputes. As the union continues its fight, striking workers are picketing outside the casino, supported by the union's compensation for strike days. The dispute highlights ongoing tensions between the union and the casino, with Virgin Hotels attempting to negotiate a viable agreement.
Source: YAHOO
Reported 8 days ago
General Motors is laying off approximately 1,000 employees worldwide, primarily white-collar workers, as part of its strategy to reduce expenses and enhance competitiveness in the saturated automobile market. The company aims to streamline operations and has acknowledged challenges in transitioning to electric vehicles. With EV sales increasing, GM is focused on maintaining efficiency and achieving its goal of reducing fixed costs by $2 billion by the year's end.
Source: YAHOO
Reported 8 days ago
Elon Musk's SpaceX is set to initiate a tender offer in December, aiming to sell shares at $135 each, which would value the company at over $250 billion. The move comes as Musk anticipates greater influence and favorable treatment from the government following Donald Trump's election victory. This could also boost Musk's Mars transportation goals and accelerate NASA's Artemis program to focus on Mars missions.
Source: YAHOO
Reported 8 days ago
Bitcoin soared to a record high of $93,480 following the recent elections, fueled by investor optimism that Donald Trump's presidency will favor cryptocurrencies. Despite a slight pullback to $88,185, the cryptocurrency has seen a 32% increase since November 5. With Trump’s pro-digital asset stance, investors are hopeful for a regulatory landscape that could bolster the industry, although caution remains regarding potential market volatility.
Source: YAHOO
Reported 8 days ago
Following a stronger-than-expected fiscal Q4 earnings report, analysts reassess their stock price targets for Applied Materials, contemplating the implications of a subdued outlook for non-AI chip demand in the upcoming year. Despite Applied Materials benefitting from significant investments from major cloud-service providers, concerns arise over the impact of export restrictions to China and a challenging forecast for ongoing sales. Analysts predict a slight decline in wafer front-end equipment sales and have lowered their price targets, reflecting a cautious sentiment amid evolving market dynamics.
Source: YAHOO
Reported 8 days ago
Retail sales in October rose 0.4%, indicating strong consumer spending despite some price increases and challenges from last month’s hurricanes. Significant gains were seen in auto sales and electronics. As the holiday shopping season approaches, a solid but not as robust spending is expected compared to last year, with some consumers still feeling the impact of high food prices. The overall economic outlook remains positive, with consumer confidence rising and spending patterns reflecting a willingness to engage in the market.
Source: YAHOO
Reported 8 days ago
U.S. retail sales saw a slight increase in October, surpassing forecasts as households spent more on automobiles and electronics, indicating economic resilience at the start of the fourth quarter. The Commerce Department reported a 0.4% rise in sales following a revised 0.8% gain in September. This positive data suggests potential reassessment of interest rate cuts by the Federal Reserve, as solid consumer spending supports growth amid concerns about inflation and economic stability.
Source: YAHOO
Reported 8 days ago
Aluminum prices surged following China's announcement to cancel a tax rebate on over 5 million tons of aluminum exports. This move, aimed to influence global metal markets amidst rising trade tensions, allows Chinese producers to potentially shift costs to overseas buyers and may increase exports of higher value-added aluminum products. The cancellation also saw shares of aluminum producers outside China rise.
Source: YAHOO
Reported 8 days ago
The Invest 2024 event organized by Yahoo Finance gathered key industry leaders, including Federal Reserve President Neel Kashkari and Bank of America CEO Brian Moynihan, to provide insights for investors amid global uncertainties. Discussions focused on the effects of geopolitics on the bond market, the defense sector's future, and innovative investment strategies. Notable speakers included Apollo Global Management's Marc Rowan and Macy's Tony Spring, sharing valuable perspectives on navigating the market.
Source: YAHOO
Reported 8 days ago
Costco gas stations offer unique features that many may not be aware of, such as one-way traffic flow for easier access, the exclusion of Executive member rewards on gas purchases, and the high-quality TOP TIER gas that helps maintain your vehicle. While the prices are attractive, customers should consider using cash back credit cards to maximize their rewards on fuel purchases.
Source: YAHOO
Reported 8 days ago
In 2024, exchange-traded funds (ETFs) experienced an unprecedented surge in inflows, surpassing $913 billion, marking the highest annual inflow on record. Fueled by a robust bull market and significant investor interest post-Trump's election victory, the total US ETF assets exceeded $10 trillion for the first time. This year has seen over 600 new ETF products launched, with a notable demand for actively managed and crypto ETFs. While mutual funds faced net outflows, ETFs proved to be the favored investment vehicle, offering liquidity and low fees.
Source: YAHOO
Reported 8 days ago
The Virgin Hotels Las Vegas has experienced a walkout, signaling the first open-ended strike in over two decades for Nevada's largest labor union, highlighting tensions in the hospitality industry.
Source: YAHOO
Reported 8 days ago
Analysis reveals that Rachel Reeves's planned increase in National Insurance taxes could lead to the loss of 100,000 jobs as companies struggle under financial strain. Deutsche Bank predicts this impact will be worse than the government's forecast, as increased payroll costs force firms to reduce hiring and cut pay raises. Consequently, consumer prices are also expected to rise, contributing to inflationary pressures on the economy.
Source: YAHOO
Reported 8 days ago
Larry Fink is directing BlackRock Inc. to invest aggressively in private markets, aiming to emulate past successes in response to an influx of capital in this sector. This year, BlackRock has committed approximately $16 billion to establish itself as a major infrastructure investor and is in talks to acquire HPS Investment Partners and a stake in Millennium Management. However, the company also announced a retreat from long-term private equity investments. With a focus on capturing private asset growth akin to the rise of passive investment strategies, BlackRock is positioning itself to compete effectively against leading players in the private market landscape.
Source: YAHOO
Reported 8 days ago
The EU Commission reported that while the eurozone is moving past stagnation and on track for modest growth, U.S. protectionist trade policies pose significant risks. European Economic Commissioner Paolo Gentiloni emphasized that potential tariffs under the incoming U.S. administration could harm both economies. The eurozone is expected to grow by 0.8% this year and 1.3% next year, amid recovering consumer purchasing power and easing inflation, yet the growth remains vulnerable to external shocks.
Source: YAHOO
Reported 8 days ago
This article highlights three top oil stocks for investors looking to use $500 effectively: Chevron, which offers diversified and stable dividends, ideal for conservative investors; Devon Energy, an upstream player that provides variable dividends tied to energy prices, suitable for aggressive investors; and Enterprise Products Partners, a midstream company known for its high yield and consistent performance, best for conservative income seekers. Each stock has distinct characteristics catering to different investment strategies.
Source: YAHOO
Reported 8 days ago
U.S. equity funds experienced a significant influx of investor interest for the week ending November 13, 2024, driven by optimism surrounding Donald Trump's potential return to the presidency and its anticipated positive impact on corporate earnings. Investors poured a record $37.37 billion into these funds, marking the largest weekly net purchase since January 2014, particularly favoring small-cap and large-cap equities. Additionally, U.S. bond funds continued to see strong demand, while money market funds also recorded substantial inflows.
Source: YAHOO
Reported 8 days ago
In the latest edition of 'Pomp’s Playbook,' Yahoo Finance highlights key financial developments in sports, including DraftKings facing a $250 million revenue hit due to NFL betting trends favoring bettors, the National Women's Soccer League experiencing growth in fan engagement, and the upcoming boxing match between Mike Tyson and Jake Paul on Netflix, which is critical for Netflix's live sports strategy.
Source: YAHOO