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
Reported 20 days ago
In August, US housing starts recorded a 9.6% increase, reaching an annualized rate of 1.36 million, marking the fastest pace since April. Despite a previous decline, the increase reflects a rebound in residential construction due to falling borrowing costs and brighter demand prospects. Building permits also rose, indicating future construction activity, although builders remain cautious due to high inventory levels of unsold homes. The latest data suggests a mixed outlook for the housing market as single-family home construction sees a revival while multifamily projects decline.
Source: YAHOO
Reported 20 days ago
US futures are in a holding pattern as markets prepare for the Federal Reserve's pivotal interest rate decision, marking its first cut since 2020. With speculation on whether a 0.5% or 0.25% reduction will occur, futures for the Dow, S&P 500, and Nasdaq 100 saw a slight increase. Investors are keenly watching economic indicators, including a surge in housing starts amid declining mortgage rates, while tech giants like Microsoft and Google are making headlines with significant investments and legal victories.
Source: YAHOO
Reported 20 days ago
The recent shift in automaker strategies towards shared platforms for both electric and gas-powered vehicles, exemplified by Stellantis' investment in the STLA Frame architecture, aims to address uncertainties in the evolving automotive market. This approach allows manufacturers to better respond to fluctuations in EV demand while decreasing costs and enhancing flexibility. As the industry balances the transition between gas and electric vehicles, companies like BMW and Jaguar Land Rover also adopt similar strategies, indicating that shared platforms may gain traction among automakers in the future.
Source: YAHOO
Reported 20 days ago
Tupperware Brands Corporation has filed for Chapter 11 bankruptcy after struggling financially, despite experiencing a brief uptick during the pandemic as more people cooked at home. The company attributes its woes to a challenging macroeconomic environment and an outdated direct sales model which failed to transition into e-commerce despite the rise of online shopping. Acknowledging this failure, Tupperware plans to pursue a turnaround strategy that includes enhancing its digital presence and exploring potential business sales.
Source: YAHOO
Reported 20 days ago
The Federal Reserve's upcoming meeting in September is considered its most uncertain since 2015, as market expectations shift dramatically. Portfolio manager George Cipolloni suggests a potential 50-basis-point rate cut, arguing that a 25-basis-point cut may disappoint and lead to market instability. This uncertainty stems from the need for more data before the next meeting in November, creating a potentially volatile environment.
Source: YAHOO
Reported 20 days ago
According to a recent Citigroup survey of 338 family offices, wealthy families are becoming more optimistic about investments, with 97% expecting positive returns in the next year. The shift towards riskier assets includes direct investments in companies and an increased focus on growth equity and venture capital. While concerns about interest rates have surpassed worries about inflation, over half of the respondents have investments in generative artificial intelligence. The survey also found a majority of investors profited last year, encouraging families to reduce cash holdings.
Source: YAHOO
Reported 20 days ago
As the Federal Reserve prepares for its crucial meeting, expectations grow for the first interest rate cut in four years, aiming for a soft landing for the US economy amidst ongoing inflation concerns. Dan Niles, founder of Niles Investment Management, shares insights on how this rate-easing cycle may affect the market and discusses the investments in AI and Big Tech as investors prepare for market shifts.
Source: YAHOO
Reported 20 days ago
General Mills has announced a smaller-than-anticipated decline in quarterly sales, attributed to better demand following price reductions on some products. Sales fell 1% to $4.85 billion, less than the expected 2.11% drop, even as the company faces challenges from increasing input costs. CEO Jeff Harmening noted a shift towards home-cooked meals among consumers contributing to a slight volume growth in U.S. retail. The firm is optimistic about improving volume trends in fiscal 2025, despite a projected overall growth below long-term targets.
Source: YAHOO
Reported 20 days ago
The Federal Reserve's potential rate cuts could unintentionally worsen the housing market's affordability crisis. While lower rates might ease borrowing costs and stimulate demand, they could also fail to address the fundamental supply issues, thus maintaining high prices. Experts warn that increased demand without enough available homes could complicate the situation further, making it harder for prospective buyers to succeed in a competitive market.
Source: YAHOO
Reported 20 days ago
As the US Federal Reserve embarks on its anticipated rate-cutting cycle, expectations suggest cuts may be less aggressive due to the economy's continued strength. Analysts highlight a potential disconnect between the market's aggressive rate cut pricing and the current economic indicators, which point to a healthy labor market and corporate earnings. While a majority see cuts of either 50 or 25 basis points, some experts warn that deep cuts would only be justified in a recession scenario. Overall, despite the market pricing in significant rate reductions, many believe the Fed will maintain relatively high rates.
Source: YAHOO
Reported 20 days ago
According to market strategist Phil Streible from Blue Line Futures, gold prices are currently factoring in a potential 50 basis point cut from the Federal Reserve, with forecasts suggesting a year-end target of $2,750 and a 12 to 15-month target of $3,000. He emphasizes the importance of a gradual rate reduction process to maintain investor confidence in gold, warning that a smaller cut could trigger a dip in prices.
Source: YAHOO
Reported 20 days ago
Eurozone inflation has decreased to a three-year low of 2.2% as of August 2024, despite still being above the European Central Bank's (ECB) target of 2%. This decline came after the ECB cut interest rates to 3.5% for the second time this year. Meanwhile, inflation across the EU was at 2.4%. The lowest inflation rates were found in Lithuania (0.8%) and Latvia (0.9%), while Romania saw the highest at 5.3%. The ECB maintains its inflation forecasts for the current year at 2.5% and 2.2% for the next year.
Source: YAHOO
Reported 20 days ago
Google successfully challenged a 1.49 billion euro antitrust fine imposed by the EU, related to exclusivity clauses in its online advertising contracts. The EU's General Court annulled the fine, stating that the European Commission made errors in its assessment. This ruling comes amid ongoing scrutiny of Google’s advertising practices, as the company faces additional legal challenges over its dominance in the digital ad market.
Source: YAHOO
Reported 20 days ago
The average 30-year fixed-rate mortgage in the U.S. has fallen to 6.15%, the lowest level in two years, amid expectations of interest rate cuts by the Federal Reserve. This 14 basis point decline has spurred a surge in mortgage applications for both purchases and refinancing, as homeowners seek to take advantage of lower borrowing costs. The current rate is significantly down from previous peaks of nearly 8% and reflects the end of the Fed's rate-hiking campaign, with further cuts anticipated.
Source: YAHOO
Reported 20 days ago
In a significant event for the financial market, the Federal Reserve is expected to lower interest rates for the first time in four years, with potential cuts ranging from 25 to 50 basis points. This decision comes as the Fed aims for a soft landing for the US economy amid ongoing legal challenges faced by tech giants like Google and SpaceX. Today's market activities are highly influenced by this anticipated rate change.
Source: YAHOO
Reported 21 days ago
While gold prices reach record highs, silver is drawing attention with a four-day price surge beyond $31 per ounce. Investors are optimistic as silver, which has slightly outperformed gold this year, may continue to rise, particularly if the gold-silver ratio shifts. Key economic factors and rising demand for silver in chip production amid advancements in artificial intelligence are driving interest in the metal as a potential breakout asset.
Source: YAHOO
Reported 21 days ago
JPMorgan Chase CEO Jamie Dimon stated that any Federal Reserve interest rate cut, whether by 25 or 50 basis points, is unlikely to have a significant effect on the economy. He emphasized that while the Fed's actions are important, they are not as impactful as the underlying real economic conditions. Dimon noted his concerns about ongoing geopolitical events and inflation's persistence, hinting that such factors should be prioritized over rate discussions.
Source: YAHOO
Reported 21 days ago
Fed Chairman Jerome Powell faces a dilemma in communicating interest rate cuts. A 25 basis points reduction is easier to justify, as it allows Powell to maintain that the economy remains strong without the need for aggressive action. In contrast, cutting by 50 basis points could prompt tougher questions regarding the Fed's concerns about economic slowdown.
Source: YAHOO