Reported 21 days ago
U.S. business inventories rose by 0.4% in July, slightly above economists' expectations of 0.3%, indicating that inventory investment may support economic growth in the third quarter. This increase follows a 0.3% rise in June and marks a 2.5% year-over-year gain. The rise in inventories is considered crucial for GDP growth, especially as a wider trade deficit could be impacting the economy. Retail inventories excluding autos rose by 0.5%, while wholesale inventories climbed by 0.2%.
Source: YAHOO
Reported 21 days ago
Intel shares increased nearly 4% following a multibillion-dollar deal to produce custom AI chips for Amazon Web Services, providing relief to shareholders after a significant drop in stock value this year. This partnership is seen as a critical step for Intel as it aims to improve its struggling contract manufacturing business and regain market credibility, although analysts emphasize the need for further gains to fully recover.
Source: YAHOO
Reported 21 days ago
Bond traders are increasingly betting that the Federal Reserve will enact a half-point cut in interest rates this week, driven by recent economic data suggesting consumer resilience. As the Fed's decision looms, the market is pricing in significant expectations for rate reductions, with analysts indicating a potential need for clarification on future cuts as recent retail sales and industrial production figures exceeded predictions.
Source: YAHOO
Reported 21 days ago
The average retail price of diesel fuel has dropped for the 10th straight week, declining by 2.9 cents to $3.526 per gallon. Over this period, prices have fallen a total of 33.9 cents, and are now approximately $1.10 lower than a year ago. Despite a recent low in futures markets, the overall bearish sentiment persists, with UBS revising its oil price forecasts downward.
Source: YAHOO
Reported 21 days ago
US manufacturing output increased by 0.9% in August, driven by a substantial 9.8% rise in motor vehicle production, following a drop in July. Despite this rebound, overall manufacturing remains challenged by high borrowing costs, and output is only up 0.2% compared to the previous year. The Federal Reserve anticipates easing policy to support recovery, as industrial capacity utilization rose to 78.0% in August.
Source: YAHOO
Reported 21 days ago
In August, US retail sales unexpectedly rose by 0.1%, contrary to economists' predictions of a 0.2% drop. While consumer spending is showing signs of slowing, it is not occurring rapidly, and auto sales also reflect resilient consumer demand despite higher interest rates. Experts believe this data will likely be revised, and the Federal Reserve will consider it cautiously when deliberating interest rate adjustments.
Source: YAHOO
Reported 21 days ago
Eli Lilly, currently valued at around $830 billion, is anticipated to be the first healthcare company to break into the trillion-dollar market capitalization club. With a focus on GLP-1 weight loss drugs and Alzheimer's treatments, alongside a partnership with OpenAI to integrate AI in healthcare, Eli Lilly is positioned for significant growth and innovation in the medical field. As the demand for its products soars, especially in light of the obesity crisis and the expanding market for Alzheimer's treatments, its trajectory suggests a promising future as a leading player in the industry.
Source: YAHOO
Reported 21 days ago
The Federal Deposit Insurance Corporation (FDIC) has proposed new regulations requiring banks to strengthen recordkeeping for accounts held by fintech companies to ensure consumers have timely access to their funds. This comes after the bankruptcy of Synapse Financial Technologies, which led to the freezing of thousands of accounts. Additionally, the FDIC has updated its guidelines for bank mergers to enhance scrutiny on larger institutions, amid increasing regulatory focus on the banking sector.
Source: YAHOO
Reported 21 days ago
Tupperware Brands (TUP) shares dropped over 50% in one day amid reports of an impending bankruptcy filing, potentially occurring within the week. The company is struggling with $700 million in debt and has been trying to manage its financial difficulties. This situation has raised concerns about its future in the market.
Source: YAHOO
Reported 21 days ago
Sam's Club has announced an increase in its minimum wage to $16 per hour starting November, up from $15, alongside raises of 3% to 6% for nearly 100,000 employees based on tenure. This move aims to retain workers amid competition with Costco, which pays a minimum of $19.50 per hour. The increase reflects a broader trend in the retail industry to enhance wages in a tight labor market, and aims to foster a stable workforce for better customer service.
Source: YAHOO
Reported 21 days ago
In a recent dinner at Nobu, Oracle's Larry Ellison and Tesla's Elon Musk implored Nvidia CEO Jensen Huang for more graphics processors (GPUs), emphasizing their urgent need for AI development amid skyrocketing demand. With Oracle and Tesla both investing billions in GPUs to enhance their cloud infrastructures and self-driving technologies, the scarcity of chips is impacting their growth plans, highlighting the intense competition for Nvidia's supplies among tech giants.
Source: YAHOO
Reported 21 days ago
Accenture has announced a six-month delay for the majority of its staff promotions, moving the announcement from December to June. This shift reflects the ongoing struggles within the consulting industry as companies reduce spending. The firm cited the need for better visibility into client demand before making promotion decisions. Accenture is among several firms responding to economic uncertainty, having already cut jobs after a hiring spree during the pandemic.
Source: YAHOO
Reported 21 days ago
Shares of Shopify (SHOP) surged after Redburn Atlantic upgraded the company to a 'Buy' rating and increased its price target to $99 per share, highlighting the company's growth in social e-commerce as a key factor. Morning Brief hosts Seana Smith and Brad Smith discuss this positive outlook and Shopify's social media integration strategies.
Source: YAHOO
Reported 21 days ago
Microsoft's shares are surging in pre-market trading after the company's board approved a $60 billion share buyback and raised the dividend by 10% to $0.83 per share, effective November 21. Morning Brief hosts Seana Smith and Brad Smith provide further insights and analyze the stock's performance over the past two years.
Source: YAHOO
Reported 21 days ago
U.S. stocks, including the Nasdaq Composite, opened higher on Tuesday, September 17, 2024, with a gain of over 0.8%. This positive movement occurs as Federal Reserve officials gather for their two-day FOMC meeting, which may lead to announcements about interest rate changes on September 18. Market analysts are also monitoring the U.S. dollar index along with gold and silver prices.
Source: YAHOO
Reported 21 days ago
August retail sales increased by 0.1%, surpassing Wall Street predictions of a decline. A Bank of America survey indicated that 79% of investors expect a soft landing for the economy amid the Federal Reserve's upcoming interest rate cuts. Additionally, Intel's shares rose following news of the company spinning off its foundry business into a separate entity.
Source: YAHOO
Reported 22 days ago
Retail sales in August surpassed Wall Street predictions, increasing by 0.1% despite expectations of a decrease. This data arrives as the Federal Reserve's policy meeting begins, with widespread anticipation of an interest rate cut due to slowing economic growth and easing inflation. Excluding auto and gas sales, the increase was 0.2%, slightly below estimates. The stronger sales suggest that consumer spending remains robust, alleviating recession fears.
Source: YAHOO
Reported 22 days ago
The Apple Watch Series 10 introduces significant updates, including larger displays, a slimmer design, and improved battery charging, while adding new software features like sleep apnea detection and a Vitals app to monitor health metrics. While users of older models will notice a marked improvement, those with newer Series 7 or 8 watches may not find it essential to upgrade, as they can also access the latest watchOS 11 features.
Source: YAHOO
Reported 22 days ago
Meta has launched Instagram Teen Accounts to protect teenage users from inappropriate content and interactions. This update includes limitations on messaging, tagging, and visibility on the platform, along with new features such as sensitive content controls and reminders for app usage. The changes come in response to increasing criticism from state attorneys general regarding the impact of social media on teen mental health, highlighting issues like anxiety and depression linked to excessive use of these platforms.
Source: YAHOO
Reported 22 days ago
With the expiration of a lock-up agreement, former President Donald Trump is now poised to sell his shares in Trump Media & Technology Group (TMTG), the parent company of Truth Social. Holding over 57% of TMTG, which is valued at over $3 billion, Trump's decisions could significantly influence the stock price and shareholder sentiment. Although he stated he has no immediate plans to sell his shares, any move he makes will be closely watched by investors, especially given the stock's volatility and its dependence on his political appeal.
Source: YAHOO
Reported 22 days ago
Alphabet Inc. shares have fallen over 20% in recent months due to increasing regulatory uncertainty and recent antitrust rulings, making them an attractive buy for investors. With the stock trading at about 18 times forward earnings, significantly lower than its peers, some analysts see the current valuation as an opportunity despite ongoing legal challenges. While concerns about future earnings and competition grow, many financial experts maintain a cautious optimism about Alphabet's prospects.
Source: YAHOO
Reported 22 days ago
Stifel analyst Ruben Roy discussed AMD's recent mergers and acquisitions, which include nearly $1 billion in software-focused buys, suggesting that the company aims to enhance its competitive position in the chip industry against Nvidia. He noted that AMD's acquisitions are geared towards quickly integrating systems to meet the growing demand for capacity, positioning the company as a potential number two to Nvidia’s dominance.
Source: YAHOO
Reported 22 days ago
Upstart, a lending company that has seen its stock plummet by 91%, could experience significant growth if the Federal Reserve decides to lower interest rates in its upcoming meeting. The company's reliance on personal and auto loans has made it vulnerable to rising rates, leading to decreased demand and deep losses. However, a reduction in rates could stimulate consumer borrowing, potentially boosting Upstart's business and stock value. Analysts urge caution, emphasizing the need for management to adapt for long-term sustainability.
Source: YAHOO
Reported 22 days ago
As the Federal Reserve begins its two-day policy meeting, financial markets are anticipating an interest rate cut. Notably, tech giants Microsoft and Intel are seeing significant stock increases, with Microsoft raising its dividend and Intel planning to spin off its foundry business. Meanwhile, investors are also reacting to key economic data, including retail sales figures released today.
Source: YAHOO
Reported 22 days ago
Source: YAHOO