Reported 19 days ago
Asian stocks experienced volatility as investors awaited details of U.S. President Trump's impending tariff plans, raising concerns about a potential global trade war. With existing tariffs on aluminium, steel, and automotive goods already unsettling markets, the latest proposed duties are expected to intensify investor anxiety. Economic indicators suggest a contraction in U.S. manufacturing and declining job openings, further exacerbating market uncertainty. Gold prices remain elevated as a safe-haven asset amid broader concerns over economic stability.
Source: YAHOO
Reported 19 days ago
As traders await U.S. President Donald Trump's tariff announcements on April 2, dubbed 'Liberation Day', the dollar shows slight firmness while other currencies remain stable. Key currencies like the euro and sterling see little change leading up to the news that could introduce sweeping tariffs impacting global trade. Concerns about escalating trade tensions and the potential economic fallout are keeping markets on edge.
Source: YAHOO
Reported 19 days ago
Australia's Star Entertainment is exploring a refinancing opportunity with U.S. casino group Bally's Corp after a failed A$940 million proposal from Salter Brothers Capital. The company's financial struggles and regulatory issues have led to a suspension of its shares, with reports indicating it has only a week of cash left to operate. Star's attempts to meet liquidity needs through the Salter proposal fell short, prompting the search for alternative support from Bally's.
Source: YAHOO
Reported 19 days ago
Oil prices stabilized in thin trading on Wednesday following a decline driven by concerns over new U.S. tariffs expected to exacerbate a global trade war, potentially impacting crude demand. Brent crude remained at $74.49 a barrel, while U.S. West Texas Intermediate rose slightly to $71.23. Market analysts anticipate that the impending announcement on tariffs could either push prices up or down, with risks leaning towards a decline if the measures underwhelm.
Source: YAHOO
Reported 19 days ago
Recent forecasts indicate that international travel to the U.S. is expected to decline by 9.4% this year, nearly doubling earlier predictions due to growing anger over the Trump administration's tariffs and rhetoric. High-profile incidents at U.S. borders and tensions with countries like Canada and Ukraine have further deterred potential visitors, leading to significant financial losses in the tourism sector. The forecast suggests a particularly harsh impact on border states and an overall drop in spending by foreign visitors.
Source: YAHOO
Reported 19 days ago
Oil prices remained steady as traders braced for impending US tariff announcements, following a significant rally last month. Brent crude traded below $75 while West Texas Intermediate hovered above $71, with uncertainty prevailing regarding the potential impacts of tariffs on global markets. President Trump is expected to unveil a variety of tariff measures, potentially affecting supply chains and geopolitical dynamics, particularly concerning Russia and Iran. Additionally, US crude inventories have reportedly risen, indicating possible shifts in the market.
Source: YAHOO
Reported 19 days ago
Michael Klein, a veteran in Brazilian retail, has proposed to reclaim his role as chairman of Casas Bahia, a company founded by his father in the 1950s. With a stake of 10.4%, he has requested a shareholders meeting to remove the current chairman, Renato Nascimento, and emphasizes the need for strategic leadership to adapt to modern consumer demands while maintaining executive continuity.
Source: YAHOO
Reported 19 days ago
US stock futures saw an uptick as Wall Street prepared for President Trump's impending announcement of new tariffs that could reshape global trade dynamics. Futures for the Dow Jones and S&P 500 rose 0.2%, while Nasdaq futures increased by 0.3%. The announcement, expected on Wednesday, has created uncertainty regarding the specific duties and their potential economic impact, with investors anxious about both opportunities and retaliatory reactions from trading partners. Fresh economic data and the upcoming March jobs report are anticipated to further illuminate the economic landscape.
Source: YAHOO
Reported 19 days ago
After a successful IPO, Newsmax stock has soared from $10 per share to nearly $200, creating significant wealth for early investors. Despite its growth and newfound capital for expansion, the channel faces legal challenges and concerns over its financial stability, leading some analysts to label it as a 'meme stock.' The stock's meteoric rise has caught the attention of investors, including notable figures like President Trump, as it positions itself closer to established competitors like Fox News in market capitalization.
Source: YAHOO
Reported 19 days ago
Austan Goolsbee, President of the Chicago Federal Reserve, emphasized that while key economic indicators show a solid U.S. economy with a strong labor market and declining inflation, the potential introduction of new tariffs by President Trump could disrupt this stability. He indicated that tariffs could either increase production costs or frighten consumers and businesses into reducing spending and investment, potentially leading to renewed inflation or a slowdown. Goolsbee highlighted the need for caution as the situation develops, amidst mixed signals from soft data regarding business and consumer sentiment.
Source: YAHOO
Reported 19 days ago
Australian shipbuilder Austal has experienced a remarkable 35% surge in shares over the past three months, driven by U.S. defense spending policies. This growth contrasts with a broader market decline, as the company benefits from its defense contracts with the Australian and U.S. navies. The Australian government announced an acceleration of A$1 billion in defense spending amid rising geopolitical tensions, contributing to a record order book of A$14.2 billion for Austal by the end of 2024. Investor interest in the company remains strong, indicated by a recent stake purchase by South Korean firm Hanwha.
Source: YAHOO
Reported 19 days ago
According to a report from the Wall Street Journal, Visa has proposed approximately $100 million to Apple to replace Mastercard as the tech company's credit card partner. This move comes as several financial institutions, including American Express and Barclays, compete for the partnership after Apple ended its collaboration with Goldman Sachs, which began in 2019.
Source: YAHOO
Reported 19 days ago
Tesla is currently experiencing considerable disruption, largely due to CEO Elon Musk's involvement with the Trump administration and major changes in its product lineup. Analysts note that the transition to the new Model Y is impacting sales and that negative sentiment surrounding the brand is a significant challenge. While the market outlook remains cautious for the short term, there may still be potential for recovery in the long run as the company continues to innovate.
Source: YAHOO
Reported 19 days ago
In a volatile trading session, the S&P 500 and Nasdaq Composite showed resilience despite the uncertainty surrounding President Trump's tariff news. Analysts discussed the implications of a bear trap for traders, highlighting the difference between hard and soft data in market sentiment. As April approaches, historical seasonality suggests potential for positive returns, with much depending on maintaining upward momentum this month.
Source: YAHOO
Reported 19 days ago
The Winklevoss twins, billionaires and founders of the Gemini cryptocurrency exchange, are exploring a potential resolution to a lawsuit from the U.S. Securities and Exchange Commission (SEC) concerning their Gemini Earn program, which allegedly operated without proper registration. A recent joint motion in federal court requested a 60-day extension to negotiate a possible settlement or other outcomes. This case follows the SEC's larger efforts to regulate the cryptocurrency industry, signaling a shift in oversight levels.
Source: YAHOO
Reported 19 days ago
Tesla's shares began April positively, recovering slightly after a challenging first quarter where the stock lost over a third of its value due to declining sales and political controversies. As the company prepares for first-quarter delivery reports, investors should monitor crucial support levels around $225 and $186, with resistance levels near $360 and $421, to gauge potential future movements in the stock.
Source: YAHOO
Reported 19 days ago
Hims & Hers Health shares surged on Tuesday after the telehealth platform announced the inclusion of Eli Lilly's weight-loss medication Zepbound and diabetes treatment Mounjaro, both priced at $1,899 monthly. This addition marks a significant boost as Hims stock has more than doubled in the past year, even amidst recent market fluctuations related to the FDA's comments on diabetes drug shortages.
Source: YAHOO
Reported 19 days ago
Lineage Inc. has finalized its acquisition of Bellingham Cold Storage and its three warehouses located in Washington, expanding its network in the Pacific Northwest to 40 locations. This deal enhances Lineage's capacity, adding 85,000 pallet positions and 24 million cubic feet of space, and allows for improved supply chain solutions in the seafood and agriculture sectors.
Source: YAHOO
Reported 19 days ago
Major automakers reported a sharp increase in sales in March, with nearly 1.6 million vehicles sold in the U.S., a 13.6% rise, boosting first-quarter sales to over 3.9 million. Companies like GM, Ford, and Toyota saw notable gains, particularly in electric vehicle sales. However, concerns loom as President Trump's 25% tariffs on auto imports take effect, potentially impacting future sales and costs.
Source: YAHOO
Reported 19 days ago
Stablecoin issuer Circle has submitted its filing to go public on the New York Stock Exchange, aiming to trade under the ticker CRCL. The company, valued at over $5 billion, did not disclose share numbers or expected pricing. Founder Jeremy Allaire emphasized that this move reflects their commitment to transparency and accountability.
Source: YAHOO
Reported 19 days ago
As President Trump reinstates aggressive tariffs on imports, particularly affecting American farmers, commentators predict a repeat of the bailouts seen during his first term. The administration, already preparing for the fallout from retaliatory tariffs by other countries, plans to offer support to the agricultural sector, which is likely to face economic challenges similar to those experienced in 2018 and 2019. Despite Trump's optimistic rhetoric on domestic sales, many farmers are skeptical about their ability to recover from the anticipated economic impacts.
Source: YAHOO
Reported 19 days ago
Newsmax's stock (NMAX) experienced a staggering 735% increase following its IPO, raising the value of founder Christopher Ruddy's stake to $8.4 billion. Market analysts caution investors against pursuing such volatile stock movements, despite the substantial wealth generated by this surge.
Source: YAHOO
Reported 19 days ago
Goldman Sachs estimates that foreign boycotts driven by U.S. protectionist policies could reduce the U.S. GDP by $28 to $83 billion in 2025, affecting consumer goods, especially American alcohol in Canada. The report highlights a significant drop in tourist visits and a 70% decrease in passenger bookings on Canada-U.S. routes, raising concerns over broader economic impacts and prompting Wall Street firms to lower growth forecasts for the U.S. economy.
Source: YAHOO
Reported 19 days ago
Commerce Secretary Howard Lutnick is threatening to withhold promised Chips Act grants unless chip companies increase their investment in US projects. Analyst Patrick Moorhead discusses the implications for major players like Intel and TSMC, noting that while some companies have committed substantial funds, the politicization of the Chips Act may affect future funding and commitments.
Source: YAHOO
Reported 19 days ago
Newsmax's stock (NMAX) skyrocketed by 180% on Tuesday, following a staggering 735% increase on Monday after its IPO, raising $75 million at a share price of $10. The rapid trading pushed the company's market capitalization to $20.8 billion, with shares closing at $234. Despite facing ongoing legal challenges and scrutiny, CEO Christopher Ruddy expressed that this funding will support their growth initiatives and digital expansion.
Source: YAHOO