Reported 3 days ago
This week, Federal Reserve officials, including Chair Jerome Powell, will provide crucial insights on the US economy. Analysts predict discussions will highlight ongoing uncertainty regarding inflation and growth rates, as uncertainties around government policies persist. The potential for prolonged inflation has been emphasized, raising concerns that a potential recession could be overshadowed by inflationary pressures.
Source: YAHOO
Reported 3 days ago
Economist Benjamin Jones discusses how former President Trump's cuts to scientific research funding could negatively affect economic growth. He emphasizes that investments in science and innovation drive long-term prosperity, improving both the standard of living and health outcomes. The article highlights a significant disconnect between the need for federal funding for research and the administration's push for increased private sector funding, arguing that reducing government support may impede vital discoveries and advancements.
Source: YAHOO
Reported 3 days ago
Job openings fell to the lowest level since last September, with 7.57 million positions available in February, marking a continued cooling in the labor market. The decline in openings, coupled with a slight increase in hires to 5.4 million and a decrease in the quits rate to 2%, suggests growing uncertainty among consumers about future job security. As the Federal Reserve considers potential interest rate cuts, economic growth signals, including a dip in the manufacturing employment index and declining consumer confidence, indicate possible challenges ahead.
Source: YAHOO
Reported 3 days ago
On April 1, 2025, major stock indexes opened lower amid uncertainty surrounding President Trump's impending tariff announcements. Trader apprehension is high, with market movements reflecting concerns about potential tariffs, including reports of a 20% universal tariff plan. The Dow dropped nearly 160 points, while the Nasdaq faced significant declines, particularly in large-cap tech stocks. Market observers are closely watching developments as economic factors continue to unfold.
Source: YAHOO
Reported 3 days ago
In the past year, baby boomers aged 60 to 78 comprised 42% of all homebuyers in the US, surpassing millennials at 29%. A significant difference is that many boomers are buying homes with cash; over half of those aged 70 to 78 did so, compared to the majority of millennials who financed their purchases. This trend highlights the financial advantages of older generations, particularly in the face of high mortgage rates and rising home prices that younger buyers are struggling with.
Source: YAHOO
Reported 3 days ago
Elon Musk is pouring millions into the costly Wisconsin Supreme Court race, seeking to replicate his past political success with Donald Trump. With over $17 million spent on promoting his candidate, Brad Schimel, Musk is actively engaging voters through financial incentives, testing campaign finance laws. The outcome could shift the court's balance towards conservatives, significantly impacting issues such as abortion rights and gerrymandering, while also reflecting Musk's broader political strategy and influence in the state.
Source: YAHOO
Reported 3 days ago
The US auto industry grapples with rising affordability issues due to inflation, supply chain disruptions, and the expensive transition to electric vehicles (EVs). Geoffrey Pohanka, chairman of Pohanka Automotive Group, highlights the complexities of global markets, particularly in China and Europe, where local manufacturers and stringent policies pose additional challenges for automakers.
Source: YAHOO
Reported 3 days ago
In light of President Trump's proposed tariffs aimed at encouraging biopharma manufacturing in the U.S., Jefferies' Michael Yee highlights Vertex, Amgen, and Gilead as top biotech stocks that are less affected due to their limited overseas production. He notes these companies have performed well year-to-date, and while some sector concerns exist, they remain strong defensive investments.
Source: YAHOO
Reported 3 days ago
US stock futures fell as investors braced for President Trump's upcoming announcement regarding new reciprocal tariffs, which is expected to create tension in the markets. Both the S&P 500 and Dow Jones futures dropped by about 0.3%, while the Nasdaq futures declined by 0.2%. March concluded as the worst quarter for the S&P 500 in three years, raising concerns over economic growth as speculation swirls about the potential blanket tariff rates that could impact the US economy struggling with inflation.
Source: YAHOO
Reported 3 days ago
Boeing has lowered its production rate of the 737 MAX to 31 jets per month from 38 due to ongoing delays in fitting wing systems, as reported by The Air Current. The Renton, Washington factory briefly achieved a production rate of 38 but faced increased assembly challenges, prompting the reduction. Boeing aims to eventually increase production back to 38 per month within the year.
Source: YAHOO
Reported 3 days ago
SpaceX is preparing to set up a ground station for its Starlink satellite service in Vietnam, with plans for a broader network of up to 15 stations across the country. This move follows Vietnam's approval for Starlink to operate under a pilot program, permitting full ownership by Elon Musk amidst potential U.S. tariffs. The first station is expected to be operational by mid-2025 in Danang, facilitating internet access and allowing government oversight of online data, crucial for the nation’s regulatory framework.
Source: YAHOO
Reported 3 days ago
A U.S. bankruptcy judge has rejected Johnson & Johnson's proposal to settle lawsuits claiming their baby powder and talc products cause ovarian cancer. This marks the third unsuccessful bankruptcy attempt by J&J to resolve over 60,000 claims against them. The judge determined that J&J does not qualify for bankruptcy, stating the decision is justified despite its difficulty.
Source: YAHOO
Reported 3 days ago
Two Michigan business organizations have urged President Trump to reconsider proposed 25% tariffs on imported vehicles and parts, arguing that it would lead to increased prices, supply chain issues, and significant hardship for the state's auto-dependent workforce. They highlight that the tariffs could disrupt the automotive industry's profitability and disproportionately affect working-class families, while the White House maintains that ongoing investments by automakers could mitigate the impact.
Source: YAHOO
Reported 3 days ago
OpenAI has announced its intention to raise $40 billion in a funding round led by SoftBank Group, aiming to boost AI research and expand its infrastructure at a valuation of $300 billion. The funding will support the company’s ambitious plans, including the establishment of a network of AI-focused data centers under the Stargate project in collaboration with SoftBank and Oracle. OpenAI also intends to transition to a for-profit model to secure this investment, which would significantly raise its standing among valuable private companies.
Source: YAHOO
Reported 3 days ago
The Tennessee Valley Authority (TVA), the largest public utility in the U.S., has appointed Don Moul as its new CEO, replacing retiring Jeff Lyash. Moul, who has been with the TVA since June 2021, will assume his role on April 9. This decision comes after political pressure and changes in the TVA board amid growing calls for increased nuclear energy investment, despite concerns about the research and safety of such technologies.
Source: YAHOO
Reported 3 days ago
In his inaugural address, new Intel CEO Lip-Bu Tan emphasized the importance of direct customer feedback, urging them to be 'brutally honest.' He aims to streamline operations by reducing middle management and empowering engineers to foster innovation. Tan's primary focus will be on attracting top talent back to Intel, which has lost market share to competitors like Nvidia.
Source: YAHOO
Reported 3 days ago
Analysts at Cantor Fitzgerald have called for the dismissal of Health and Human Services Secretary Robert F. Kennedy Jr. They criticize his position on vaccines and express concern over his potential impact on public health leadership, following recent high-profile resignations in federal health agencies. The analysts emphasize the importance of scientifically-backed vaccine safety and hope for a correction in the administration's approach towards public health.
Source: YAHOO
Reported 3 days ago
Christopher Ruddy, founder and CEO of Newsmax, has amassed a fortune of approximately $3.3 billion following the company's public debut, where shares soared 735%. The conservative news network's IPO raised $75 million, with shares closing at $83.51. Ruddy maintains control over 81% of voting power through his class A shares, despite the company reporting a loss of $72 million last year on $171 million in revenue.
Source: YAHOO
Reported 3 days ago
President Donald Trump signed an executive order aimed at reducing ticket scalping and fees associated with attending live events. The order directs the Federal Trade Commission and the Department of Justice to enforce competition laws in the entertainment industry and ensure price transparency in the ticket purchasing process. Artists and fans, represented by singer Kid Rock during the announcement, are concerned about bots buying tickets and reselling them at inflated prices, often depriving the original creators of revenue.
Source: YAHOO
Reported 3 days ago
President Donald Trump has signed an executive order to create a new office, the United States Investment Accelerator, within the Commerce Department to manage the CHIPS and Science Act. This initiative aims to boost corporate investments in semiconductor manufacturing by negotiating better deals and reducing regulatory burdens, despite Trump's prior criticisms of the bipartisan CHIPS Act.
Source: YAHOO
Reported 3 days ago
Wells Fargo's currency strategists foresee the US dollar benefiting from President Trump's trade war, despite its current decline due to market uncertainties. They project a potential rise of 1.5% to 11%, based on the level of tariffs imposed and global responses. The expectation is that increased tariffs will suppress foreign demand and currencies, while inflation pressures may lead to sustained higher interest rates from the Federal Reserve.
Source: YAHOO
Reported 3 days ago
An analysis reveals that out of 107 S&P 500 companies providing first-quarter earnings guidance, 68 have issued negative outlooks, surpassing historical averages. This trend raises concerns for investors as Goldman Sachs increases recession odds due to declining corporate confidence and economic growth. The benchmark S&P 500 closed higher on Monday but has seen a nearly 6% decline in March, marking its worst monthly performance since 2022.
Source: YAHOO
Reported 3 days ago
Freeport-McMoRan has revised its first-quarter gold sales forecast downward by approximately 100,000 ounces, due to shipment delays in Indonesia affecting production. The company faced challenges after a fire damaged its smelter but has resumed concentrate exports following recent regulatory approvals. Copper prices, however, are expected to rise to around $4.40 per pound, up from $3.94 a year prior, with quarterly results scheduled for release on April 25.
Source: YAHOO
Reported 3 days ago
Wall Street showed resilience on Monday, shaking off initial fears related to impending tariff announcements from President Trump, with the S&P 500 closing up 0.55%. The market experienced a turbulent session influenced by global uncertainty, but ultimately managed to recover as investors adjusted portfolios during the month-end and quarter-end period. Concerns about a potential recession have also been raised, amid lower economic growth forecasts.
Source: YAHOO
Reported 3 days ago
United Microelectronics' stock surged nearly 9% following reports of a possible merger with U.S. chipmaker GlobalFoundries. The merger aims to create a company with production capabilities across the U.S., Asia, and Europe, seeking to secure American access to semiconductors amid growing tensions between Taiwan and China.
Source: YAHOO