Reported 12 days ago
President-elect Donald Trump is expected to appoint prominent critics of China to top positions in his administration, signaling a potential deterioration in US-China relations. Senator Marco Rubio, likely to become secretary of state, has been sanctioned by Beijing, while Mike Waltz is set to be national security adviser. These appointments align with Trump's history of tough rhetoric toward China, raising concerns about heightened tensions and economic repercussions, particularly regarding proposed tariffs on Chinese goods.
Source: YAHOO
Reported 12 days ago
Billionaire Ken Griffin, CEO of Citadel, has notably reduced his investment in Nvidia, selling millions of shares throughout 2024, while simultaneously increasing his stake in Amazon. Despite concerns over Nvidia's stock performance, the company remains a leader in AI tech due to its GPUs. Conversely, Amazon showcases strong growth in e-commerce, advertising, and cloud services, leveraging AI for enhanced efficiency and revenue. Investors are advised to consider both stocks, with potential buying opportunities based on Griffin's strategic moves.
Source: YAHOO
Reported 12 days ago
As Donald Trump's new administration prepares, expectations for a loosening of merger and acquisition regulations may be misguided. Historical data indicates that Trump's first term was as rigorous as Joe Biden's, featuring significant merger challenges from the DOJ and FTC. While Trump might lean towards negotiating rather than litigating, scrutiny of mergers, especially in the tech sector, is likely to continue. The appointment of new FTC leadership could signal a shift, but expectations for a dramatic reduction in merger regulations might prove overly optimistic.
Source: YAHOO
Reported 12 days ago
Australian business confidence soared to its highest level in nearly two years in October, driven by resilient sales and eased input costs, according to a National Australia Bank survey. The business conditions index remained at +7, while the confidence index rose by 7 points to +5, marking significant improvement. Despite some dips in employment intentions, the overall results indicate a positive shift in sentiment, coinciding with a rise in consumer confidence and expectations of lower borrowing costs.
Source: YAHOO
Reported 12 days ago
Asian shares saw a slight increase as U.S. stocks continued their upward trend, with the S&P 500 reaching a record high. Japanese markets led the gains, while stocks in Australia and South Korea experienced declines. Investors are reacting to a lack of expected stimulus from China and are optimistic about future U.S. economic prospects, fueled by the policies of President-elect Donald Trump. Bitcoin soared past $89,000, and significant economic data from the U.S. is emerging this week.
Source: YAHOO
Reported 12 days ago
In November, Australia saw a rise in consumer sentiment and a significant boost in business confidence, the highest since early 2023, indicating relief from inflation pressures. A National Australia Bank survey reported a 7-point rise in business confidence and a 5.3% increase in consumer sentiment, suggesting convergence after two years of divergence. As concerns over interest rate hikes ease and the economic outlook improves, both household and corporate sentiments reflect a more optimistic future despite some jitters following the recent US election.
Source: YAHOO
Reported 12 days ago
Korea Zinc Co. has reported a decrease in its third-quarter operating profit but has not provided an expected update on its $1.8 billion share sale, which is currently under investigation by the financial authorities. The company faces internal conflicts among major shareholders and has seen its stock price decline despite a recent surge since September.
Source: YAHOO
Reported 12 days ago
Oil prices experienced their largest decline in two weeks, influenced by weak demand forecasts from China, a stronger US dollar, and fears of oversupply. Brent crude fell below $72, and West Texas Intermediate hovered around $68. Concerns persist about a potential global supply surplus next year as OPEC's market report is expected to provide further insights. Experts indicate a bearish sentiment in the oil market, driven by the strong dollar and demand uncertainties.
Source: YAHOO
Reported 12 days ago
Wellpath Holdings Inc., a leading provider of health-care services in U.S. prisons, has filed for Chapter 11 bankruptcy due to unsustainable debt levels and rising labor costs. The company, based in Nashville, TN, reported assets and liabilities between $1 billion and $10 billion, marking a significant challenge within the private equity-owned prison-services sector. This comes amid increasing scrutiny and pressures on the industry.
Source: YAHOO
Reported 12 days ago
Two men, Connor Riley Moucka from Canada and John Erin Binns from Turkey, have been indicted for allegedly hacking into the networks of at least 10 organizations, including a company similar to Snowflake Inc. They are accused of stealing sensitive data worth $2.5 million in Bitcoin, compelling victims to pay ransom, and accessing billions of records containing personal and financial information. The cyberattacks occurred between November 2023 and October 2024, using a tool branded as 'rapeflake' to breach the cloud systems.
Source: YAHOO
Reported 12 days ago
Gold remains close to a one-month low after a significant drop, driven by the strengthening dollar following Donald Trump's presidential win. The dollar has reached its highest levels in a year, influencing a decline in gold prices by over 4% since the election. Despite the current downturn, gold is still up more than 25% this year, supported by the Federal Reserve's easing measures and global economic uncertainties. Investors are awaiting upcoming inflation data that could impact future interest rates.
Source: YAHOO
Reported 12 days ago
Intudo Ventures, an Indonesian venture capital firm, has raised $75 million for its fourth fund, a reduction from its previous fund as the startup industry in Southeast Asia faces challenges. The firm, founded in 2017, aims to invest in over a dozen Indonesian startups, focusing on their global expansion, with initial investments between $1 million and $10 million, given the current market conditions and reduced startup valuations.
Source: YAHOO
Reported 12 days ago
The New York Times Tech Guild has ended a week-long strike that began just before the U.S. presidential election, announcing their return to work while negotiations over pay and job security continue. Over 600 tech workers protested during this period, highlighting the lack of progress in contract discussions which have been ongoing for more than two years. The guild emphasized the importance of their contributions and the support they have from subscribers nationwide.
Source: YAHOO
Reported 12 days ago
Southwest Airlines is offering buyouts and extended leaves to airport workers to address overstaffing, which it attributes to delays in new plane deliveries from Boeing. The airline aims to reduce its workforce by 2,000 by year-end, focusing on ground operations roles while excluding pilots and flight attendants. The decision follows pressure from a hedge fund to improve profitability amidst a significant drop in stock prices since early 2021.
Source: YAHOO
Reported 12 days ago
The founders of Shopify and Slack have partnered with Peter Thiel's Valar Ventures to support Neo Financial in a C$360 million fundraising round. This Canadian fintech company offers credit cards, mortgages, and savings accounts and is anticipating significant growth, having reported revenues between C$75 million and C$100 million last year.
Source: YAHOO
Reported 12 days ago
Australian consumer sentiment saw a significant increase in November, marking the second consecutive month of growth and reaching a 2.5-year high, according to a recent survey. The Westpac-Melbourne Institute index reported a 5.3% rise from October, with future financial outlooks surpassing the 100 mark for the first time since the pandemic. While pessimists still outnumber optimists, the gap is closing as consumers feel less pressure on finances and gain confidence in the economic outlook, aided by stable interest rates from the Reserve Bank of Australia. Encouragingly, consumer expectations for mortgage rates to decline also hit their highest levels since 2016, signalling a positive trend ahead of the holiday shopping season.
Source: YAHOO
Reported 12 days ago
Bitcoin's remarkable surge beyond $89,000 has elevated the overall crypto market value to surpass its peak during the pandemic, fueled by speculations of a boom under the incoming Trump administration. Since the US elections on November 5, Bitcoin has risen approximately 30%, with investors optimistic about Trump's more crypto-friendly policies, contributing to a broader increase in digital assets now valued at about $3.1 trillion.
Source: YAHOO
Reported 12 days ago
Grab Holdings Ltd. saw its shares rise by up to 15% in late US trading after the Southeast Asian ride-hailing giant revised its earnings forecast to between $308 million and $313 million for the year, exceeding previous estimates. The company's third-quarter earnings of $90 million surpassed analysts' expectations, with revenue also up 17% to $716 million. Despite fierce competition and reduced customer spending in the region, Grab is focusing on maintaining profitability while its user base expands.
Source: YAHOO
Reported 12 days ago
Crude oil prices have declined as demand forecasts from China continue to weaken, leading to concerns about long-term impacts on the global oil market. CIBC Private Wealth energy trader Rebecca Babin notes that expectations for Chinese demand have been revised downward throughout the year, citing a lack of fiscal stimulus and potential tariffs. Additionally, U.S. oil companies are focusing on profitability amid moderate crude pricing, suggesting that explosive growth in production is unlikely without significant price support.
Source: YAHOO
Reported 12 days ago
Dan Alamariu, Chief Geopolitical Strategist at Alpine Macro, believes that the economic policies of a potential Trump administration will not negatively impact stock market growth. He argues that Trump will govern in a manner that avoids inflation and deficit expansion, crucial for maintaining political viability ahead of the 2026 midterms. Alamariu's insights suggest that Trump's approach will likely align with bolstering the economy rather than hindering market performance.
Source: YAHOO
Reported 12 days ago
Valuations are on the rise as 2024 progresses, leading to increased market index projections and strategic forecasts. Ed Yardeni of Yardeni Research suggests that earnings could grow rapidly without triggering a recession, raising the S&P 500 target for 2025 to 7,000, with potential peaks of 10,000 by the end of the decade. Yahoo Finance's Julie Hyman discusses the factors driving these rising valuations.
Source: YAHOO
Reported 13 days ago
Bitcoin continues its upward trend, reaching over $86,000, with predictions from Asymmetric CEO Joe McCann that it could hit $100,000 following Donald Trump's reelection. McCann highlights structural market forces and growing momentum from the Trump administration’s support for the crypto industry, indicating strong buying interest both domestically and internationally.
Source: YAHOO
Reported 13 days ago
Josh Lipton and Julie Hyman discuss the opinion of Doug Ramsey, CIO of the Leuthold Group, who believes that the current stock market is experiencing a bubble based on historical metrics. As the S&P 500 and Dow Jones hit new record highs, Ramsey highlights that current trading levels exceed historical norms typically seen in bubble conditions. He expresses skepticism regarding sustaining earnings growth for large-cap stocks and indicates a shift towards value-oriented investments and smaller companies.
Source: YAHOO
Reported 13 days ago
Yahoo Finance hosts its annual Invest event in New York City, featuring discussions with industry leaders like Marc Rowan and Brian Moynihan on significant investment topics. The program aims to engage investors with insights on the economy and market dynamics.
Source: YAHOO
Reported 13 days ago
The S&P 500 has closed above 6,000 and the Dow Jones above 44,000, both achieving record highs amid a FOMO rally sparked by Donald Trump's reelection. Bitcoin surged past $88,000, boosting crypto stocks as market analysts, including Ed Yardeni, raise their year-end price target for the S&P 500 to 7,000.
Source: YAHOO