Reported 11 days ago
Cathie Wood of Ark Invest is selling her Tesla shares and investing heavily in Amazon, a shift reflected in her strategy of taking profits amid Tesla's recent stock surge. Over the past few weeks, Wood has sold significant amounts of Tesla stock while purchasing more than 395,000 shares of Amazon, which she views as a strong long-term opportunity due to its diverse business and AI growth potential. Despite the sales, Wood remains bullish on Tesla, reinforcing her commitment to both companies.
Source: YAHOO
Reported 11 days ago
Food inflation continued to rise in October, with the Bureau of Labor Statistics noting a 1.1% increase in grocery prices compared to a year ago and a 0.1% increase from September. The cost of dining out surged by 3.8%, while egg prices jumped 30.4% year-over-year despite a monthly decrease. Beef prices saw a slight annual rise of 1.9% but fell by 1.1% month-over-month. Influenced by adverse weather and supply challenges, overall food prices remain under pressure.
Source: YAHOO
Reported 11 days ago
The October Consumer Price Index (CPI) showed a slight increase in prices, aligning with expectations. Economists Claudia Sahm and Nathan Sheets discussed the implications for the U.S. economy and the Federal Reserve's interest rate policies. They noted that while inflation is improving, it is a slow process, and challenges remain in achieving the Fed's target rate. The discussion also touched on potential inflationary effects of former President Trump's reelection and policies, emphasizing that future administration moves will determine economic outcomes.
Source: YAHOO
Reported 11 days ago
Source: BARRONS
Reported 11 days ago
US stocks saw an uptick as traders absorbed October's inflation data, which aligned with expectations showing a 2.6% annual increase and a 0.2% rise for the month. The results boosted hopes for a potential quarter-point rate cut by the Federal Reserve in December, with market probabilities for such a cut rising significantly. Key indices posted gains, while Tesla's shares surged after positive news regarding Elon Musk's appointment. However, concerns linger about future rate cuts due to inflation rates remaining above the Fed's target.
Source: YAHOO
Reported 11 days ago
US stocks, including the Dow Jones Industrial Average, rose on Wednesday following the release of October's Consumer Price Index (CPI), which aligned with economists' predictions. Market analysts discussed the implications for various indices and asset classes like small caps, Treasury yields, gold, and bitcoin.
Source: YAHOO
Reported 11 days ago
Source: BARRONS
Reported 11 days ago
Spirit Airlines' stock has significantly declined following a report indicating that the budget airline isclose to filing for bankruptcy. The Wall Street Journal has revealed that negotiations for a merger with Frontier Airlines have collapsed, prompting Spirit to collaborate with creditors on a bankruptcy plan that could lead to a filing within a few weeks.
Source: YAHOO
Reported 11 days ago
President-elect Donald Trump has selected Tesla CEO Elon Musk and former Republican candidate Vivek Ramaswamy to lead his proposed Department of Government Efficiency. This initiative aims to curb federal spending across various agencies.
Source: YAHOO
Reported 11 days ago
The October Consumer Price Index (CPI) report indicates a slight rise in inflation, aligning with economists' forecasts. This development raises questions about the Federal Reserve's upcoming decisions, especially in light of warnings from Minneapolis Fed President Neel Kashkari regarding potential implications of unexpected inflation increases on monetary policy.
Source: YAHOO
Reported 11 days ago
The October Consumer Price Index (CPI) reported a 0.2% rise month-over-month and a 2.6% annual increase, aligning with predictions. Meanwhile, Bitcoin reached a new record high of over $89,000. President-elect Donald Trump announced the appointment of Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency.
Source: YAHOO
Reported 11 days ago
Bank of America (BAC) shares have surged by 10% following Donald Trump's presidential win, driven by expectations for reduced banking regulations and a strengthening US consumer economy, according to CEO Brian Moynihan.
Source: YAHOO
Reported 11 days ago
When selling a house for a profit, such as $435,000, capital gains taxes may apply. However, individuals can exempt up to $250,000 and married couples up to $500,000 of this profit when selling their primary residence. If you exceed these exemptions, you will owe taxes on the gains over the limit, which could place you in a higher tax bracket depending on your total income. It's advised to consult a financial advisor to navigate these rules effectively.
Source: YAHOO
Reported 11 days ago
Inflation saw a slight increase in October, with the Consumer Price Index (CPI) rising 0.2% from the previous month and 2.6% year-over-year. The core CPI, excluding food and energy prices, increased by 0.3% since September and 3.3% from a year ago, consistent with Bloomberg's consensus estimates.
Source: YAHOO
Reported 11 days ago
The latest inflation data from October shows that consumer prices increased by 2.6% year-over-year, matching forecasts and keeping the Federal Reserve on course for a potential interest rate cut in December. The Consumer Price Index rose 0.2% from the previous month, consistent with previous estimates, while core prices rose 0.3%. Despite ongoing inflation pressures, the Fed remains focused on its dual mandate of maximum employment and price stability, with markets anticipating a significant likelihood of a rate cut following these findings.
Source: YAHOO
Reported 11 days ago
CyberArk (CYBR) reported quarterly earnings of $0.94 per share, significantly exceeding the consensus estimate of $0.45, and showcasing a year-over-year increase from $0.42. The company also achieved revenues of $240.1 million for the quarter, beating expectations by 2.65% and increasing from $191.24 million a year earlier. CyberArk has consistently outperformed consensus EPS and revenue estimates over the past four quarters and is currently rated as a Strong Buy by Zacks Rank, suggesting it may continue to outperform the market.
Source: YAHOO
Reported 11 days ago
Income investors are advised to avoid Medical Properties Trust and Walgreens Boots Alliance, two companies that, despite offering relatively high dividend yields, face significant operational challenges. Medical Properties Trust has struggled with tenant issues and recent dividend cuts, while Walgreens has decreased its payouts amid ongoing financial struggles and competition from companies like Amazon. Both stocks may not be reliable for dividend-seeking investors due to their troubled financial positions.
Source: YAHOO
Reported 11 days ago
The Federal Reserve is under scrutiny as it faces possible pressure from President Trump, who is returning to office. Fed Chair Jerome Powell remains firm against any attempts to influence him, as markets anticipate future interest rate cuts from the Fed. Deutsche Bank's chief US economist warns that failing to deliver these cuts could impact global investors.
Source: YAHOO
Reported 11 days ago
In early November, Congresswoman Marjorie Taylor Greene bolstered her investment portfolio by acquiring shares in six companies, including AMD, Apple, Berkshire Hathaway, Digital Realty Trust, Meta Platforms, and Tesla. Her focus on artificial intelligence stocks reflects her bullish stance on the sector, as demonstrated by her repeated purchases in 2024. Greene's strategy includes a mix of high-growth AI companies and stable investments like Berkshire Hathaway, showcasing her aim to secure financial footing alongside her political ambitions.
Source: YAHOO
Reported 11 days ago
The October Consumer Price Index report reveals a slight rise in inflation, aligning with economist expectations, leading investors to speculate on the Federal Reserve's next moves. In related news, President-elect Donald Trump has appointed Tesla CEO Elon Musk to head a new Department of Government Efficiency.
Source: YAHOO
Reported 11 days ago
Micron's stock has dropped 3% after Edgewater Research lowered its price forecasts for NAND and DRAM, indicating a further softening outlook for the company in the first half of 2025. This news led to a premarket trading decline of $2.85, bringing shares down to $105.80.
Source: YAHOO
Reported 11 days ago
IBM CEO Arvind Krishna, speaking at the Yahoo Finance Invest conference, suggests that the development of AI will follow a trajectory similar to that of the internet, with an initial excitement leading to varied applications over time. He emphasizes that not all AI use cases will emerge at once, mirroring the phases of social media, B2B, and e-commerce growth experienced in the past.
Source: YAHOO
Reported 11 days ago
Rivian's stock rose over 15% following the announcement of a $5.8 billion investment from Volkswagen, aimed at enhancing their joint venture focused on electric vehicle technology. This strategic funding arrives as Rivian seeks to improve profitability and expand its offerings with an affordable R2 SUV amidst ongoing challenges like parts shortages and increasing competition in the EV market. The partnership is expected to alleviate some capital concerns for Rivian and position it favorably against rivals, despite uncertainties in U.S. EV policy.
Source: YAHOO