Reported 20 days ago
Recent labor data indicates potential weaknesses in the U.S. labor market, prompting the Federal Reserve to reconsider its monetary policy. The U-6 unemployment rate, which includes underemployed individuals, is currently at 8.0%. Experts suggest that the Fed should consider deeper rate cuts than currently anticipated to support economic growth, as the restrictive monetary policy does not seem beneficial. With treasury yields rising in response to this changing outlook, the financial community is closely monitoring developments.
Source: YAHOO
Reported 20 days ago
The Federal Reserve has reduced interest rates by 50 basis points, marking its first cut in four years as it seeks to ensure a smooth landing for the US economy. This decision holds significant implications for various economic sectors, including US stocks and the housing market. The article also highlights noteworthy guests providing insights on the effects of the rate cut.
Source: YAHOO
Reported 20 days ago
In the latest episode of 'Living Not So Fabulously,' Todd Sears, CEO and founder of OUTLeadership, discusses how he turned a layoff into a launching pad for helping LGBTQ+ professionals thrive in corporate environments. The conversation highlights his focus on encouraging organizations to improve equality while benefiting their bottom lines, emphasizing the importance of open discussions about money and career growth in achieving lasting financial success.
Source: YAHOO
Reported 20 days ago
During the Dreamforce event, Salesforce CEO Marc Benioff criticized Microsoft's Copilot, claiming that their approach has not delivered results for customers. He introduced 'Agentforce,' a new line of AI sales agents poised to outperform traditional systems, emphasizing a goal of deploying one billion AI agents by 2026. Benioff expressed confidence in Salesforce's path forward, especially as they aim to enhance profitability through their AI solutions amid fluctuating market conditions.
Source: YAHOO
Reported 20 days ago
Futures contracts betting on the Federal Reserve's funds rate have surged to record highs ahead of the anticipated rate-easing cycle that is expected to commence during the Fed's September meeting. Market analysts are closely monitoring the situation as the decision and press conference are set to take place this Wednesday.
Source: YAHOO
Reported 20 days ago
As weight loss drug manufacturers prepare to discuss pricing with lawmakers, including Senator Bernie Sanders, experts are examining the pharmaceutical market's pricing strategies in the US compared to other countries. Notable companies like Pfizer, Eli Lilly, and Novo Nordisk are expected to introduce pill options for their weight loss drugs, which could significantly impact the market landscape.
Source: YAHOO
Reported 20 days ago
Amazon announced plans to raise hourly wages for its U.S. fulfillment and transportation employees by at least $1.50, bringing base pay to over $22 an hour. The company also aims to spend more than $2.2 billion on these increases and will provide free Prime memberships as benefits. This move follows growing pressure from workers for better pay and conditions, particularly after the formation of the Amazon Labor Union. The wage hikes will begin this month, aiming to aid recruitment and retention ahead of the holiday season.
Source: YAHOO
Reported 20 days ago
During Salesforce's Dreamforce conference, CEO Marc Benioff addressed the critical topic of AI regulation. He emphasized the importance of understanding both what actions are beneficial and those that could be harmful, acknowledging the unpredictability of AI's future. Additionally, California Governor Gavin Newsom signed new legislation aimed at regulating the use of AI-generated content to combat misinformation, highlighting the pressing need for effective regulation in the rapidly advancing tech landscape.
Source: YAHOO
Reported 20 days ago
Economist Judy Shelton, a former Trump adviser, discusses her proposed reforms for the Federal Reserve, advocating for a return to monetary policies reminiscent of former Chair Paul Volcker's era. She expresses concerns over excessive liquidity and suggests that the central bank should reevaluate its approach to interest rate cuts while preventing inflation. Shelton also suggests that Elon Musk could effectively identify inefficiencies in the Fed's spending practices.
Source: YAHOO
Reported 20 days ago
Commodity prices, including crude oil, gold, and silver, are being closely monitored as traders await updates on the Federal Reserve's interest rate decisions and their potential impact on demand. Yahoo Finance's Ines Ferré provides insights into the current market conditions and prices.
Source: YAHOO
Reported 20 days ago
Tupperware Brands has filed for Chapter 11 bankruptcy due to economic challenges, while the UAW prepares to vote on a potential strike against Stellantis, alleging contract violations. Additionally, all independent directors of 23andme have resigned as CEO Anne Wojcicki intends to take the company private, following a $30 million settlement over a data breach impacting certain user groups.
Source: YAHOO
Reported 20 days ago
Truist co-chief investment officer Keith Lerner suggests that tech stocks are likely to rise even more in the fourth quarter of 2024, despite potential volatility. He highlights ongoing earnings momentum and believes that as seasonal earnings reports unfold, tech will outperform in a cooling economy, drawing investors back to this bullish sector.
Source: YAHOO
Reported 20 days ago
Meta Platforms successfully dismissed a shareholder lawsuit alleging fraud over its handling of Apple’s privacy policy changes, which purportedly diminished the appeal of Facebook and Instagram for advertisers. U.S. District Judge Yvonne Gonzalez Rogers ruled that claims of concealment regarding former COO Sheryl Sandberg and the impact of the platform's Reels feature lacked substantiation. As the court found no evidence of federal securities law violations, the lawsuit was dismissed with prejudice.
Source: YAHOO
Reported 20 days ago
General Mills experienced a decline in profit and sales in its first fiscal quarter compared to the previous year, prompting a drop in its stock price during after-hours trading. This resulted in discussions around the company's earnings report and its recent foray into the pet food market.
Source: YAHOO
Reported 20 days ago
Shares of Roku have surged following upgrades from JPMorgan and Seaport Research. JPMorgan raised its price target for Roku from $80 to $90 while maintaining an Overweight rating, and Seaport Global increased its target from $74 to $85 with a Buy rating. The Morning Brief team discusses these favorable projections and reflects on Roku's performance over the past year.
Source: YAHOO
Reported 20 days ago
In anticipation of Federal Reserve interest rate cuts, Oppenheimer's Chief Investment Strategist, John Stoltzfus, expresses optimism about sectors such as technology, communication services, consumer discretionary, and financials. He aligns with JPMorgan's CEO Jamie Dimon, suggesting the impact of the rate cut won't be significant while recognizing the Fed's effective management.
Source: YAHOO
Reported 20 days ago
Shares of Intuitive Machines (LUNR) have surged after the company announced a nearly $5 billion contract with NASA. Morning Brief hosts Brad Smith and Madison Mills discuss the implications and details of this significant deal.
Source: YAHOO
Reported 20 days ago
In an interview ahead of the Federal Reserve's anticipated rate cut, Comerica Bank's chief economist Bill Adams expressed confidence in the economy's current state, predicting a 25 basis point cut while emphasizing that he does not foresee a recession in the near future. He pointed out the unique factors impacting the labor market and noted that forward guidance from the Fed will be more critical than immediate policy decisions. Adams cautioned that fiscal policy is largely influenced by congressional actions, especially in light of upcoming presidential elections.
Source: YAHOO
Reported 20 days ago
A European Union court has ruled in Google's favor, allowing the tech giant to challenge and overturn a €1.7 billion antitrust fine related to its online advertising practices. Experts discuss the implications of the ruling and the ongoing legal battles that Google faces in the U.S.
Source: YAHOO
Reported 20 days ago
US stocks opened flat on Wednesday as investors await the Federal Reserve's anticipated interest rate decision. Market indices remained steady, while analysts like Brad Smith and Jared Blikre discussed sector movements and volatility trends in today's morning briefing.
Source: YAHOO
Reported 20 days ago
At a recent conference, JPMorgan Chase CEO Jamie Dimon expressed that potential Federal Reserve rate cuts, whether 25 or 50 basis points, are 'not earth-shattering' and termed them a 'minor thing.' Despite his concerns about the economic vulnerabilities and skepticism about inflation dropping to 2%, he supports the Fed's monetary policy easing. Dimon also criticized the slow process of implementing new capital regulations for banks, arguing that it should have been completed sooner.
Source: YAHOO
Reported 20 days ago
Donald Trump stated he has no intention of selling his shares in Trump Media & Technology Group (DJT), but will be able to do so starting Thursday after a six-month lockup period expires. His stake, which is now valued at approximately $2 billion, has experienced significant volatility, dropping about 60% since the company went public in March. The stock's performance has been closely linked to political developments, including Biden's withdrawal from the presidential race.
Source: YAHOO
Reported 20 days ago
On September 18, 2024, the U.S. stock market experienced gains after the Federal Reserve announced a half-percentage-point cut to interest rates, marking its first reduction since 2020. The Nasdaq Composite rose about 0.5%, while the S&P 500 and Dow Jones increased by 0.3%. The Fed's decision was largely anticipated, with forecasts indicating two additional cuts later in the year, reflecting a focus on sustaining economic stability amid declining inflation.
Source: YAHOO
Reported 20 days ago
The Federal Reserve is set to announce its highly awaited interest rate decision today, signaling a possible cut in rates for the first time in four years. Yahoo Finance's Senior Fed Reporter Jennifer Schonberger discusses what investors should anticipate from this policy decision and its implications for future monetary policy. The announcement is scheduled for 2 p.m. ET, followed by a press conference with Fed Chair Jerome Powell.
Source: YAHOO
Reported 20 days ago
US stock futures and Treasury yields are rising ahead of the Federal Reserve's expected interest rate cuts, with speculation on whether it will be 25 or 50 basis points. In a separate development, Google's antitrust victory in the EU has overturned a previously imposed $1.7 billion fine.
Source: YAHOO