Broadening US market rally gets boost from dovish Fed
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The broadening US market rally is being boosted by a dovish Federal Reserve, as investors look beyond growth and technology stocks. Sectors such as financials, industrials, and energy are outperforming the S&P 500's year-to-date gain of 9.7%, easing concerns about the market's reliance on a small group of stocks. The Fed's confidence in tamping down inflation and cutting interest rates this year has increased investor confidence in the economy's resilience. The Magnificent Seven group of megacap stocks, which includes Apple, Nvidia, and Amazon.com, accounted for 40% of the S&P 500's gain, compared to over 60% last year. The wider rally indicates less concentration and susceptibility to correction. While some megacap stocks have performed well, others, such as Apple and Tesla, have declined. The Department of Justice's allegations against Apple for monopolizing the smartphone market highlight regulatory risks for Big Tech. The broadening trend could be affected if the economy falters or overheats. Some investors expect a pullback after the S&P 500's 27% gain since late October, while others believe the trend will continue.

#UsMarket #FederalReserve #Stocks #S&p500 #Economy #Inflation #InterestRates

https://finance.yahoo.com/news/broadening-us-market-rally-gets-224650088.html


11 Best ASX Stocks To Buy Now
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The article discusses the 11 best ASX stocks to buy now. The Australian stock exchange (ASX) is one of the largest stock exchanges in the world, with a market capitalization of $1.5 trillion. The most valuable publicly traded company in Australia is BHP Group Limited, followed by Commonwealth Bank of Australia, CSL Limited, National Australia Bank Limited, and Westpac Banking Corporation. The article highlights the advanced nature of Australia's business sector, including the presence of a prosperous biotechnology sector. The ASX stocks are sensitive to macroeconomic indicators such as interest rates and inflation. The Australian economy has experienced high inflation and slow GDP growth, but has managed to avoid the weak picture seen in other developed countries. The Royal Bank of Australia is expected to hold interest rates at 4.35% due to higher inflation. The S&P/ASX 200 index has gained 11% over the past year, but investors remain cautious about China, Australian interest rates, and economic growth. The article provides a list of the top ASX stocks to buy, including Immutep Limited, Incannex Healthcare Inc., Benitec Biopharma Inc., Mesoblast Limited, Kazia Therapeutics Limited, and Opthea Limited.

#AsxStocks #AustralianStockExchange #AustralianEconomy #BiotechnologySector

https://finance.yahoo.com/news/11-best-asx-stocks-buy-115552280.html


Evergrande's liquidators say company, SJ and Tianji withdraw Chapter 15 applications in US
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Evergrande liquidators announced that the company, SJ, and Tianji have withdrawn their Chapter 15 bankruptcy protection applications in the US. The Chinese property company stated that new applications will be made if necessary and appropriate. The announcement was made in a filing to the Hong Kong Stock Exchange.

#Evergrande #Bankruptcy #Chapter15 #Withdrawal #Us #Liquidators

https://finance.yahoo.com/news/evergrandes-liquidators-company-sj-tianji-112057882.html


The Fed’s massive economic upgrade: Chart of the Week
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The Federal Open Market Committee (FOMC) has revised its expectations for economic growth, projecting 2024 growth at 2.4%, almost double the previous forecast from three months ago. The FOMC's bullish growth projections, along with an optimistic outlook for three rate cuts this year, have helped push stocks to new highs. The Fed sees a strong job market, a healthy consumer, and worker productivity as factors supporting the economy. Fed Chair Jay Powell stated that a strong economy and stock market are not incompatible with the Fed's mandate. The only concern is that high interest rates make money expensive, pushing companies towards efficiency rather than growth. The Fed will consider cutting rates when convincing inflation data is available.

#FederalReserve #EconomicGrowth #Fomc #InterestRates #StockMarket

https://finance.yahoo.com/news/the-feds-massive-economic-upgrade-chart-of-the-week-123035274.html


Biden to tout government investing $8.5 billion in Intel's computer chip plants in four states
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The Biden administration has reached an agreement to invest $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico, and Oregon. President Biden plans to visit Intel's campus in Chandler, Arizona to talk about the investment. Commerce Secretary Gina Raimondo said the deal would put the United States in a position to produce 20% of the world's most advanced chips by 2030. The funding announcement comes during the 2024 presidential campaign, with Biden highlighting his economic policies and job growth. The investment is part of the bipartisan 2022 CHIPS and Science Act. Intel's projects would create thousands of jobs and the company plans to claim tax credits from the Treasury Department. The funding will be used to build new chip plants, modernize existing ones, and establish advanced packaging facilities.

#Biden #Intel #ComputerChips #Investment #Manufacturing #JobGrowth

https://finance.yahoo.com/news/biden-tout-government-investing-8-094644054.html


Marcos Warns on China Threat, Says He’s Not ‘Poking the Bear’
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Philippines President Ferdinand Marcos Jr. warns of the growing threat to his nation from China's claims in the South China Sea. Marcos emphasizes that his government's efforts to assert sovereignty over disputed areas are not meant to start a conflict. The standoff between the Philippines and China over contested reefs and islands has become a critical flashpoint in the region. Marcos has tightened ties with the US military and other US allies, and the US has strongly backed the Philippines in the South China Sea. Marcos says his nation cannot accept China's vast claims and hopes to avoid invoking the mutual defense treaty with the US. He also discusses the Philippine economy, charges of changing the constitution to prolong his term, key challenges and geopolitical shocks, and the potential impact of a second Donald Trump presidency.

#Philippines #China #SouthChinaSea #FerdinandMarcosJr. #Us #Geopolitics #Economy

https://finance.yahoo.com/news/marcos-warns-china-threat-says-115018654.html


Using Banuba SDKs Gives Businesses an Advantage in the Case of TikTok Ban
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If the US Congress ends up banning TikTok, companies using Banuba Video Editor SDK/API will get an edge over their competitors. Examples of countries where TikTok is already forbidden (e.g. India) show that this will likely spur startups and established players to fill the void. A video editing SDK will allow building short video-related features in hours if not minutes, thus allowing developers to shorten their time-to-market. Banning TikTok will likely cause a similar "gold rush," as the companies scramble to attract their share of users looking for the same experience as the now-forbidden app used to give. Startups researching how to build an app like TikTok could use a tool like Banuba Video Editor SDK to get an edge over their competitors.

#BanubaSdks #TiktokBan #VideoEditing #ShortVideoPlatforms

https://finance.yahoo.com/news/using-banuba-sdks-gives-businesses-234600230.html


Stock market today: Wall Street rises toward records ahead of a big week for central banks
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The S&P 500 is 1.1% higher in morning trading, coming off its first back-to-back weekly loss since October. The Dow Jones Industrial Average is up 144 points, or 0.4%, and the Nasdaq composite is 1.7% higher. The highlight for Wall Street this week will likely be the Federal Reserve's meeting on interest rates, which ends on Wednesday. The Bank of Japan will announce its latest decision on interest rates on Tuesday. The Bank of England will announce its latest decision on rates later in the week. Nvidia rose 2.6% as it kicked off its annual conference for developers. Hertz Global Holdings skidded 7.5% to bring its loss for the year so far to 32.4%. Boeing sank another 1.6% to bring its loss for the year to 31.1%. In the bond market, the yield on the 10-year Treasury was holding steady at 4.31%. Japan's Nikkei 225 jumped 2.7%.

#StockMarket #WallStreet #CentralBanks #InterestRates

https://finance.yahoo.com/news/stock-market-today-asian-stocks-075846846.html


Starcore Reports Q3 Results
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Starcore International Mines Ltd. (TSX: SAM) has filed the results for the third quarter ended January 31, 2024. The company reported an improvement in earnings from mining operations due to increased production of metal and better metal prices overall. The financial highlights for the three-month period include cash and short-term investments of $3.6 million, gold and silver sales of $6.8 million, earnings from mining operations of $0.8 million, and a loss of $0.2 million. The production highlights for the same period include equivalent gold production of 2,514 ounces, mine operating cash cost of US$1,674/EqOz, and all-in sustaining costs of US$2,156/EqOz for the nine months ended January 31, 2024. Salvador Garcia, a director of the company and Chief Operating Officer, is the qualified person on the project. Starcore International Mines is engaged in precious metals production with a focus on Mexico and has recently acquired a project in Côte d'Ivoire. The company advocates value-driven decisions and is committed to corporate social responsibility.

#StarcoreInternationalMinesLtd. #Tsx:Sam #Q3Results #MiningOperations #MetalProduction #FinancialHighlights #ProductionHighlights #PreciousMetals #CôteD'ivoire #CorporateSocialResponsibility

https://finance.yahoo.com/news/starcore-reports-q3-results-063000740.html


C.K. McWhorter Honoring Excellence Of Rolex: McWhorter Family Trust Recognizes Rolex as a Paragon of Timepiece Craftsmanship By Granting Illustrious Trust Warrant
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The McWhorter Family Trust recognizes Rolex as a paragon of timepiece craftsmanship by granting an illustrious trust warrant. C.K. McWhorter, along with his wife Whitney McWhorter and children Cass McWhorter, Scout McWhorter, Daelyn McWhorter, and Shiloh-Vincent-Alexander-McWhorter, honors Rolex's dedication to artisanal heritage and uncompromising excellence. The addition of Rolex to the McWhorter Family Trust's portfolio signifies a deliberate expansion of investments in luxury assets. C.K. McWhorter strategically acquires Rolex as part of a long-term investment approach. The financial engagement with Rolex is discreet and exempt from SEC reporting requirements. Rolex demonstrates a commitment to ESG strategies, including environmental stewardship, social responsibility, and governance and community engagement. The endorsement of Rolex by the McWhorter Family Trust represents a commitment to upholding excellence and fostering enduring partnerships. C.K. McWhorter reaffirms the dedication to celebrating craftsmanship, heritage, and the pursuit of ultimate luxury. The McWhorter Family Trust and Rolex embark on a shared mission to shape the future of luxury.

#Rolex #LuxuryAssets #TimepieceCraftsmanship #Investment #EsgStrategies

https://finance.yahoo.com/news/c-k-mcwhorter-honoring-excellence-171600359.html


US Economy Scores a Win From the Bear Market in Natural Gas
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The dramatic collapse of US natural gas prices is boosting the nation's economy. Consumer gas bills fell about 9% in February compared to a year earlier. The drop in gas prices has helped to cap nearly a year of steady declines in consumer gas bills. The decline in gas prices is also expected to benefit other sectors of the economy, such as companies that use natural gas for production and manufacturing. The US natural gas market has experienced a significant price drop, with futures falling under $2 per million British thermal units last month. This is a stark contrast to two years ago when prices skyrocketed to a 14-year high. The surge in prices at that time was exacerbated by Russia's invasion of Ukraine and the global scramble for supplies. However, the high prices helped cure the supply problem, and US production has since soared to a record. The continued outlook for the market is expected to be discussed at the CERAWeek by S&P Global energy conference in Houston next week. Many market watchers expect prices to remain subdued for the next few months. Lower natural gas prices provide relief for consumers and businesses, particularly in the manufacturing sector, where lower energy costs offer a competitive advantage.

#UsEconomy #NaturalGas #EnergyPrices #ConsumerGasBills #ManufacturingSector

https://finance.yahoo.com/news/us-economy-scores-win-bear-123000125.html


S&P 500 Falls as $5.3 Trillion Options Test Looms: Markets Wrap
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The stock market fell as big tech sold off and a pile of options expiring Friday threatened to trigger sudden price swings. Wall Street is facing a quarterly episode ominously known as triple witching in which derivatives contracts tied to stocks, index options and futures are scheduled to mature — compelling traders en masse to roll over their existing positions or to start new ones. About $5.3 trillion are set to expire, according to Rocky Fishman, founder of derivatives analytical firm Asym 500. The options episode comes at a critical juncture for markets positioning for next week’s Federal Reserve policy meeting. A recent pickup in inflation isn’t likely to shift officials’ forecasts for three interest-rate cuts this year and four in 2025, according to economists surveyed by Bloomberg News. The S&P 500 dropped to around 5,110, with trading volume that was 25% above the average of the past month. The Nasdaq 100 fell about 1%. Adobe Inc. sank on a weak sales outlook. Nvidia Corp. headed toward a 10th straight weekly gain, with its artificial intelligence conference just days away. Treasury 10-year bonds were set for their worst week this year.

#StockMarket #Options #TripleWitching #Derivatives #FederalReserve #Inflation #S&p500 #Nasdaq100 #AdobeInc. #NvidiaCorp. #TreasuryBonds

https://finance.yahoo.com/news/asian-shares-fall-us-stock-224136556.html


Billionaire Paul Tudor Jones and Insiders Love These 10 Stocks
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Billionaire Paul Tudor Jones believes the US stock market's performance in the next 12 to 24 months will depend on the fiscal situation and policy response of the next US President. He also thinks that AI could save us from the current economic 'mess' but is concerned about the threats posed by AI. Jones focuses on trading a 'basket' of stocks like the S&P 500 and has big stakes in companies like NVIDIA Corp, Exxon Mobil Corp, and Salesforce Inc. In his portfolio, there are 10 stocks that have seen heavy insider buying activity over the past 12 months, including Wave Life Sciences, Iovance Biotherapeutics, Aon PLC, Scholar Rock Holding, and Asana Inc.

#PaulTudorJones #StockMarket #InsiderBuying #Ai #NvidiaCorp #ExxonMobilCorp #SalesforceInc #WaveLifeSciences #IovanceBiotherapeutics #AonPlc #ScholarRockHolding #AsanaInc

https://finance.yahoo.com/news/billionaire-paul-tudor-jones-insiders-121824032.html


Morning bid: Markets under pressure, China house prices eyed
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Asian markets are likely to come under downward pressure at the open on Friday, following the sharp rise in U.S. bond yields and the dollar the previous day on the back of yet another hotter-than-expected U.S. inflation report. Wall Street's late slide on Thursday - the S&P 500 and Nasdaq both shed 0.3% - could tempt investors to play safe ahead of the weekend and steer Asian equities away from what would be their seventh weekly rise in eight. The MSCI Asia ex-Japan index would need to avoid falling 0.5% or more to notch a weekly gain. Japan's Nikkei 225, on the other hand, goes into Friday's session down more than 2% on the week and on track for its worst week this year. The pullback in Japanese stocks should come as little surprise - the Nikkei hit a record high above 40,000 points last week and the Bank of Japan next week could deliver its first interest rate hike in 17 years. The Asia and Pacific economic calendar on Friday includes South Korean trade figures and import and export prices, New Zealand's manufacturing PMI for February, and Japan's 'tertiary index' gauge of conditions in the services sector. Japanese news agency Jiji reported on Thursday that the BOJ has started to make arrangements to end its negative interest rate policy next week. The main indicator though will probably be Chinese house prices for the month of February. They fell at an annual rate of 0.7% in January, the biggest decline in almost a year, and have been declining almost every month since April 2022. A turnaround in the embattled property sector is needed for the broader economy to get going again, and to convince investors that the market and economic nadir has passed. Curiously, China's economic surprises index this week rose to its highest level since October, begging the question: strong data, or lousy expectations to begin with? Maybe a bit of both. A reasonably bullish case, however, could be made for Asian risk assets on Friday. Even though the U.S. 10-year yield and dollar had their biggest rises in a month and Fed rate cut expectations were pared back, Wall Street only fell 0.3%. Chipmakers and tech stocks across the region could also get a boost from Apple supplier Foxconn saying on Thursday that it expects a significant rise in revenue driven by booming demand for artificial intelligence servers.

#AsianMarkets #U.s.BondYields #U.s.InflationReport #AsianEquities #Nikkei225 #BankOfJapan #ChineseHousePrices #PropertySector #AsianRiskAssets #Chipmakers #TechStocks #Foxconn

https://finance.yahoo.com/news/morning-bid-markets-under-pressure-215007941.html


Analysis-US stocks may not be in a bubble, but a pullback could be near
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The benchmark S&P 500 index is up over 25% in the last five months, with 16 record highs this year. Bullish investors argue the gains are based on solid fundamentals, while some believe a pullback is due. The last time the S&P 500 slid more than 5% was in October. Some indicators, such as the weekly relative strength index (RSI), are flashing a warning. Growing investor optimism and high bullish sentiment also raise concerns. However, differences with past bubbles are noted, such as the technology sector's three-year outperformance being in line with the 30-year average. The new issue market has also been comparatively muted. BofA Global Research recently raised its year-end target on the S&P 500 to 5,400 from 5,100.

#UsStocks #S&p500 #MarketRally #Bubble #Pullback

https://finance.yahoo.com/news/analysis-us-stocks-may-not-050755244.html


Bitcoin Billionaire Launches AI Trading System for Spain
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Bitcoin Billionaire has launched an AI trading system tailored for Spain and other Spanish-speaking countries. The platform aims to facilitate access to cryptocurrencies and offers cutting-edge tools and insights for successful trading. The AI-powered system detects opportunities for customers to buy at low prices and sell at higher prices, maximizing profits. The platform has received positive reviews from customers who have made substantial gains. It offers a wide range of cryptocurrencies for trading and has a solid client support team. Bitcoin Billionaire's AI trading system can be accessed at https://bitcoinbillionaire.es/

#Bitcoin #Cryptocurrency #AiTradingSystem #Spain

https://finance.yahoo.com/news/bitcoin-billionaire-launches-ai-trading-012900899.html


Europe’s Answer to US Treasuries Is Headed to €1 Trillion
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Europe’s safest securities looks set to grow beyond €1 trillion ($1.1 trillion) for the first time on record. The European Union has signaled it will issue new notes in the coming days, adding to the €995 billion pile of euro bonds outstanding from the region’s four biggest supranational issuers. The notes represent an attractive alternative to German bonds, offering a small pick-up in yield for a similar level of risk. Speculation is mounting that EU bonds will soon be included in major indexes, adding to their appeal and paving the way for further sales and investment. The growth of supply from the four issuing entities almost doubled over the past decade. The bulk of EU bonds came from sales over the past four years to fund the region’s post-pandemic recovery. The availability of high-rated assets is important given Europe’s past efforts to develop sovereign bond-backed securities never got off the ground. The relatively speedy growth across the bloc’s four major supranationals is helping boost demand among global buyers.

#Europe #Bonds #Eu #UsTreasuries #Yield #Investment

https://finance.yahoo.com/news/europe-answer-us-treasuries-brink-081052708.html


Iron Ore’s Split With Stocks Shows China’s New Economy in Favor
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Iron ore prices have plunged while stocks have recovered in China, signaling a split between the old and new economies. The stock market has benefited from government-led buying and looser monetary policy, as well as showing enthusiasm for emerging industries. On the other hand, iron ore's decline is due to challenges in the traditional economy and disappointing fiscal measures from Beijing. The government's push to squeeze the property sector has changed the model for iron ore, which used to be a proxy for construction-intensive growth. The expected correction in China's construction activity has yet to begin, and there are concerns that new starts won't adequately replace property completions. The National People's Congress did not include stronger stimulus measures to support the government's 5% growth target, disappointing investors. However, there are signs of a more high-tech economy emerging, with sectors like electric vehicles, semiconductor chips, solar power, and artificial intelligence gaining favor. Iron ore's future depends on government measures to boost consumption and the possibility of supply factors affecting prices.

#IronOre #Stocks #China #Economy #Construction #PropertySector #EmergingIndustries

https://finance.yahoo.com/news/iron-ore-split-stocks-shows-073024457.html


NewHydrogen CEO Steve Hill Discusses the Need for Efficient Hydrogen Production Methods with Chair of Environmental Studies at Rhodes College
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NewHydrogen CEO Steve Hill spoke with Dr. Will Eckenhoff, Associate Professor of Chemistry and Chair of Environmental Studies at Rhodes College, about the need for efficient hydrogen production methods. Dr. Eckenhoff discussed his research on catalysts for splitting water into hydrogen and oxygen, including a new paper accepted for publication in Inorganic Chemistry. They also discussed the challenges of transitioning to a hydrogen-based economy, the potential of light-driven and electro catalytic hydrogen production, and the development of a hydrogen distribution network. Mr. Hill mentioned the need to overcome the rate-limiting factor in electrolysis and the potential of using heat to generate the necessary reaction. They also discussed the potential applications and challenges of battery technology and hydrogen fuel cells in vehicles, with electric vehicles being suitable for short commutes and hybrid technology or hydrogen fuel cells being more appropriate for long-distance trucking. The conversation concluded with a discussion on the future of energy technology, including fusion energy and the mass production of green hydrogen.

#HydrogenProduction #EfficientMethods #Catalysts #WaterSplitting #Hydrogen-basedEconomy #Light-drivenHydrogenProduction #ElectroCatalyticHydrogenProduction #HydrogenDistributionNetwork #BatteryTechnology #HydrogenFuelCells #ElectricVehicles #FusionEnergy #GreenHydrogen

https://finance.yahoo.com/news/newhydrogen-ceo-steve-hill-discusses-073000808.html


Japan’s Economy Avoids Recession One Week Before BOJ Meeting
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Japan revised economic data higher, avoiding a technical recession. Gross domestic product expanded at an annualized pace of 0.4% in the final three months of last year, reversing a 0.4% retreat initially reported. Capital investment figures were revised to reflect 2% growth. The Bank of Japan expects the economy to continue recovering moderately and may end its negative interest rate policy this month or next. The majority of economists expect the BOJ to hike rates in March or April. Consumer spending declined by 0.3% and household spending declined by 6.3% in January. The focus is now on annual pay negotiations between companies and labor unions, with results expected on March 15. Prime Minister Fumio Kishida is monitoring consumption and wages to judge whether the country has overcome deflation.

#Japan #Economy #Boj #Recession #Gdp #InterestRates

https://finance.yahoo.com/news/japan-economy-avoids-recession-one-000509035.html


Powell: Rate cuts likely if economy 'evolves' on disinflation path
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Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee, stating that interest rate cuts will be considered if disinflation spreads throughout the US economy. Powell's comments were made during a Capital Hill hearing. Yahoo Finance Fed Reporter Jennifer Schonberger provided further details on Powell's statements, including the Fed's outlook for its Basel III capital requirements. The article was written by Luke Carberry Mogan.

#FederalReserve #JeromePowell #InterestRateCuts #Disinflation #UsEconomy #SenateBankingCommittee #BaselIiiCapitalRequirements

https://finance.yahoo.com/video/powell-rate-cuts-likely-economy-165253237.html


Fed's Powell aims to dial back rates sometime in 2024
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Federal Reserve Chair Jerome Powell begins his testimony to Congress Wednesday morning in a series of hearings spanning two days. Powell is testifying before the House Financial Services Committee today and the Senate Banking Committee tomorrow, on Thursday. Lawmakers will grill Powell on the state of the US economy and the Fed's progress in combating persistent inflation. Jennifer Schonberger, a Yahoo Finance Fed Reporter, outlines Powell's plans to address future interest rate cuts as the Fed balances its dual mandate regarding inflation and labor market trends.

#FederalReserve #JeromePowell #InterestRates #Inflation #LaborMarket

https://finance.yahoo.com/video/feds-powell-aims-dial-back-143640805.html


Gold holds near all-time-high levels ahead of Fed testimony
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Gold is holding near all-time-high levels as markets await Federal Reserve Chair Jerome Powell's testimony, which is expected to reveal clues on a potential June rate cut. Spot gold reached a historic high of $2,141.59 per ounce in the prior session, while U.S. gold futures fell 0.3% to $2,135.20. The increasing expectations of interest rate cuts, weaker U.S. economic data, and fears of a stock market correction have led to strong demand for alternative assets like gold and bitcoin. Traders see a 69% chance of a June Fed rate cut. Investors are also focused on Powell's first day of semi-annual congressional testimony on the state of the U.S. economy. In other metals, spot silver rose 0.1% to $23.70, platinum was up 0.9% to $888.38 per ounce, and palladium gained over 1% to $958.93.

#Gold #FederalReserve #InterestRateCuts #StockMarket #AlternativeAssets

https://finance.yahoo.com/news/gold-holds-above-2-100-052804896.html


Wall St set for lower open as megacaps slide ahead of economic data
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Wall Street is set to open lower as megacap stocks slide ahead of economic data and key events this week, including appearances from Federal Reserve Chair Jerome Powell. The benchmark S&P 500 hit a fresh intraday record high on Monday before closing slightly lower in anticipation of Powell's testimony before lawmakers on Wednesday and Thursday. Apple slid 2.2% premarket after a research report showed iPhone sales in China fell 24% year-on-year in the first six weeks of 2024. Other megacap growth and technology stocks also declined, with Tesla down 2.5% after its European Gigafactory near Berlin halted production after a suspected arson attack. A reading on the U.S. services sector for February and factory orders data for January due at 10:00 a.m. ET could provide further insight into the health of the U.S. economy and the outlook for rates. Traders see a 65.5% chance of the first rate cut this year arriving in June. Target jumped 7.7% in premarket trading after the big-ticket retailer forecast annual comparable sales largely above estimates. At 8:20 a.m. ET, Dow e-minis were down 96 points, or 0.25%, S&P 500 e-minis were down 15.25 points, or 0.3%, and Nasdaq 100 e-minis were down 93.5 points, or 0.51%.

#WallStreet #MegacapStocks #EconomicData #FederalReserve #JeromePowell #S&p500 #Apple #Tesla #U.s.ServicesSector #FactoryOrders #InterestRates #Target

https://finance.yahoo.com/news/futures-ease-ahead-economic-data-102144257.html


Fed’s Powell to Double Down on ‘No Rush to Cut’ Message
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Federal Reserve Chair Jerome Powell is expected to reiterate his message that there is no rush to cut interest rates, especially after recent inflation data showed persistent price pressures. Powell will deliver his semiannual monetary policy testimony to a House committee on Wednesday and a Senate panel on Thursday. He and his colleagues have stated that they can afford to be patient in deciding when to cut rates given the strength of the US economy. Democrats are likely to question Powell on why borrowing costs are being kept high, potentially risking damage to the economy.

#FederalReserve #JeromePowell #InterestRates #Inflation #UsEconomy

https://finance.yahoo.com/news/fed-powell-double-down-no-210000077.html


Yellen visits US lithium site in Chile, eyes progress on green transition
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U.S. Treasury Secretary Janet Yellen visited U.S. lithium producer Albemarle in Chile, emphasizing the benefits of expanded U.S.-Chilean ties in improving energy security and achieving climate goals. Yellen highlighted the rising demand for clean energy, which could generate $3 trillion in global investment opportunities through 2050. The visit is part of the Biden administration's efforts to diversify U.S. supply chains and reduce dependence on China for critical minerals. Chile, as the world's largest producer of copper and the second largest producer of lithium, plays a crucial role in the green transition. Yellen praised Chile's ambitious climate agenda, including its green grid and plans for 100% EV sales by 2035. She also mentioned Albemarle's investment in Chile and the planned expansion of U.S. lithium production. The visit aims to strengthen economic ties and collaboration between the two countries.

#JanetYellen #Albemarle #Chile #CleanEnergy #SupplyChains #LithiumProduction #GreenTransition

https://finance.yahoo.com/news/yellen-visits-us-lithium-chile-191015668.html


Oil Declines as Build-Up in US Crude Inventories Spurs Caution
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Oil prices slipped as US crude inventories expanded for the fifth straight week. The 4.2-million barrel build was smaller than expected. The Federal Reserve's inflation gauge is due later, which will influence the dollar and energy demand. Crude is set for a second monthly gain, supported by supply cuts from OPEC. Concerns about the demand outlook remain, with China's consumption growth likely to slow. Timespreads are in a bullish pattern, indicating a relatively tight market.

#Oil #UsCrudeInventories #FederalReserve #EnergyDemand #Opec #China'sConsumptionGrowth

https://finance.yahoo.com/news/oil-extends-decline-build-us-000032858.html


Generative AI is having a throw-everything-at-the-wall moment
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Generative AI is experiencing a surge in new products and services, with companies announcing various applications of the technology. However, not all generative AI software is expected to be as groundbreaking as OpenAI's ChatGPT. The industry is currently in a phase of experimentation, trying to determine the use cases and potential of generative AI. This trend is reminiscent of the dot-com boom in the late '90s and early 2000s, where companies rushed to adopt new technologies without a clear understanding of their purpose. While some generative AI capabilities may seem unnecessary, the market will eventually determine which products succeed and which ones fail. The abundance of generative AI products can also lead to confusion among customers, as they struggle to differentiate between various offerings. Additionally, some companies engage in AI-washing, falsely marketing their products as generative AI or AI-powered. As the generative AI revolution continues, more products and services are expected to be launched, and the industry will see which ones gain traction.

#GenerativeAi #Openai #Chatgpt #TechIndustry #Dot-comBoom #Product-marketFit #Ai-washing

https://finance.yahoo.com/news/generative-ai-is-having-a-throw-everything-at-the-wall-moment-191404611.html


Black-owned businesses can help close the racial wealth gap. US needs more of them, study says.
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Creating and supporting more Black-owned businesses is one step to reducing the racial wealth gap in the US, according to a new study. Black-owned businesses drive the highest percentage increases in employees, revenue, and payroll but make up just 2.7% of employers. More Black-owned businesses would mean more Black-held jobs, researchers say, which would go a long way toward closing the economic gap in which the average white household owns $215,000 more wealth than the average Black household. The history of Black businesses in the US is rife with violence and racism. After slavery, Jim Crow segregation laws meant white businesses could refuse Black customers. In what was known as the Red Summers of 1917-1919, many Black-owned businesses were decimated during mob violence and racial terrorism. Today, Black-owned businesses span a range of industries, with healthcare social assistance services being the most common. However, their growth is hindered by a lack of access to capital. Corporate partnerships and impact investments can play a role in fostering the growth of Black-owned businesses. One example is the partnership between Audible and Equal Space in Newark, NJ, which provides resources for startups and coaching for tech companies.

#Black-ownedBusinesses #RacialWealthGap #UsEconomy #AccessToCapital #CorporatePartnerships #ImpactInvestments

https://finance.yahoo.com/news/black-owned-businesses-can-help-close-the-racial-wealth-gap-us-needs-more-of-them-study-says-154857069.html


Chinese commerce minister meets with US trade representative at WTO conference in Abu Dhabi
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China's commerce minister, Wang Wentao, expressed Beijing's "solemn concerns" over US tariffs and Taiwan-related issues in the economic and trade domain during a meeting with US Trade Representative Katherine Tai on Monday. The US side raised concerns regarding China's excess capacity of steel on the global market and the imbalances caused by Beijing's "state-led, non-market approach to trade policy". On the eve of the four-day conference, the USTR office published a 80-page report on China's membership in the WTO, calling China "the biggest challenge to the international trading system". Tariffs and Taiwan remain two major sore points in relations between the world's two largest economies. Meanwhile, the US and Taiwan have moved closer in the economic fields. Last year, the two sides signed a deal which included measures meant to accelerate trade between the markets. During a separate high-level discussion on trade and sustainable development on the first day of the WTO conference, Tai targeted "non-market economic policies" - an apparent jab at China without naming the country specifically. Thanks to the rapid development built upon government subsidies and a complete manufacturing infrastructure system, Chinese companies now have a near-monopoly in the global production of solar panels and lithium batteries, a key component for electric vehicles. The country also became the world's largest exporter of EVs in 2023.

#China #Us #Trade #Wto #Tariffs #Taiwan #Steel #SolarPanels #LithiumBatteries #ElectricVehicles

https://finance.yahoo.com/news/chinese-commerce-minister-meets-us-093000587.html


Stock market today: Stocks step back from record highs ahead of inflation data this week
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US stocks took a breather on Monday after closing out a dizzying week at record highs as investors braced for a looming inflation update that could put that rally to the test. The Dow Jones Industrial Average closed down 0.2% while the S&P 500 fell 0.4% on the heels of notching new closing highs last week. The Nasdaq Composite fell 0.1% following a stellar week for tech stocks. Inflation data in the coming days will test the staying power of the breakout rally that followed Nvidia's. Berkshire Hathaway closed in on a $1 trillion market value after the Warren Buffett-led conglomerate posted a record annual profit for the second year in a row. Domino's Pizza shares popped 6% after the restaurant and delivery chain lifted its dividend and beat fourth quarter sales estimates. Shares of crypto platform Coinbase gained 16% as Bitcoin hovered above $54,000 per token.

#StockMarket #InflationData #DowJones #S&p500 #NasdaqComposite #BerkshireHathaway #Domino'sPizza #Coinbase #Bitcoin

https://finance.yahoo.com/news/stock-market-today-stocks-step-back-from-record-highs-ahead-of-inflation-data-this-week-210130293.html


New England Journal of Medicine Publishes Phase III Data Showing Xolair Significantly Reduced Allergic Reactions Across Multiple Foods in People With Food Allergies
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The New England Journal of Medicine has published Phase III data from the NIH-sponsored OUtMATCH study, which showed that treatment with Xolair (omalizumab) significantly increased the amount of peanuts, tree nuts, egg, milk, and wheat that people with food allergies could consume without experiencing allergic reactions. The study included 180 patients aged 1 to 55 years old who were unable to tolerate certain food proteins. The results demonstrated that Xolair reduced the occurrence of moderate to severe allergic reactions across multiple foods. The U.S. FDA recently approved Xolair as the first and only medicine for children and adults with one or more food allergies. Food-related anaphylaxis is estimated to result in 30,000 medical events treated in U.S. emergency rooms each year. Xolair is the first and only FDA-approved medicine to reduce allergic reactions in people with food allergies.

#Xolair #FoodAllergies #AllergicReactions #PhaseIiiData #NewEnglandJournalOfMedicine #Nih-sponsoredStudy #FdaApproval

https://finance.yahoo.com/news/england-journal-medicine-publishes-phase-190000429.html


15 States With the Worst Unemployment Benefits in 2024
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This article discusses the 15 states in the United States with the worst unemployment benefits in 2024. The national unemployment rate in 2023 was 3.7%, but there were 19.8 million layoffs in the past year. Many companies, including tech giants like Amazon, Microsoft, Salesforce, and Alphabet, have announced significant job cuts. Media, retail, and automotive industries have also reported layoffs. Unemployment benefits vary by state, and this article focuses on the states with the lowest benefits. The 15 states with the worst unemployment benefits in 2024, ranked in descending order, are Connecticut, Maine, Arkansas, Virginia, District of Columbia, Tennessee, South Carolina, New Hampshire, California, and Delaware. The article provides details about each state's unemployment benefits, including the duration and amount of benefits, as well as the unemployment rates in each state. It also mentions the challenges and criticisms faced by some states' unemployment benefits systems.

#UnemploymentBenefits #JobCuts #Layoffs #States #Economy

https://finance.yahoo.com/news/15-states-worst-unemployment-benefits-140228630.html


20 Most Trustworthy Cities in the US
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The article discusses the 20 most trustworthy cities in the US based on venture capital scores. It highlights the importance of trust in business and the role of small businesses in the American economy. The study found that smaller states tend to have higher percentages of trusted businesses, while states like Nevada and California have lower percentages. The article also mentions the states with the most integrity and the most trusted companies in the US, including Walmart and JP Morgan Chase. It provides specific information about each of the 20 trustworthy cities, including Phoenix, Miami, Columbus, Nashville, San Diego, Pittsburgh, Philadelphia, Dallas, Atlanta, Denver, Houston, Seattle, Las Vegas, Washington D.C., Austin, and more. The article concludes by mentioning other related articles about cities and providing additional information about Insider Monkey's stock picks.

#TrustworthyCities #SmallBusinesses #VentureCapital #UsEconomy #Consumer-businessRelationships

https://finance.yahoo.com/news/20-most-trustworthy-cities-us-154919654.html


Nvidia Spurs Stock Rally; Japan, Europe at Records: Markets Wrap
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Global stocks rally as Nvidia's blowout sales forecast reinforces investor conviction in generative AI use. Japan's Nikkei 225 Index closes above a peak last achieved in 1989. Stoxx Europe 600 index surpasses its January 2022 closing high. Nvidia's first-quarter revenue likely to hit $24 billion. Euro-area private-sector activity hits an eight-month high. Treasuries steady after a selloff. Mercedes-Benz Group AG plans for an accelerated $3.2 billion buyback. Rolls Royce Holdings Plc reports higher-than-expected profit. BE Semiconductor Industries NV sees fourth-quarter revenue rise 16%. Nestle SA forecasts a slowdown in revenue growth. Delivery Hero SE fails talks to sell its Foodpanda business. Lloyds Banking Group Plc sets aside £450 million for possible compensation and other costs linked to a UK review of car finance. West Texas Intermediate crude climbs above $78 per barrel mark. Gold climbs above $2,029 per ounce. Bitcoin steadies after a drop. The Stoxx Europe 600 rises 0.6%. S&P 500 futures rise 1.1%. Nasdaq 100 futures rise 2%. The MSCI Asia Pacific Index rises 1.1%. The MSCI Emerging Markets Index rises 0.9%. The Bloomberg Dollar Spot Index falls 0.3%.

#StockMarket #Nvidia #Japan #Europe #GenerativeAi

https://finance.yahoo.com/news/asia-mixed-nvidia-lifts-us-230532675.html


Stock market today: US futures slide as earnings take center stage
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US stock futures fell on Tuesday, setting up for more losses as investors looked to big retailer earnings to provide insight into consumer resilience amid doubts about the odds of a "spring interest-rate cut." Futures on the S&P 500 and the Dow Jones Industrial Average slipped around 0.4% to kick off a holiday-shortened week. Contracts on the tech-heavy Nasdaq 100 dropped roughly 0.6% after the three gauges closed a turbulent week. Earnings are front of mind as markets reopen after the Presidents' Day shutdown, with quarterly reports from leading US retailers Walmart and Home Depot on the docket. Walmart's results are seen as a bellwether of consumer spending, and investors are watching closely for clues to the health of the US economy after last week's data challenged the idea the economy is headed for a future where inflation falls to the Federal Reserve's 2% target without a severe downturn. Looming large are Wednesday's earnings from Nvidia, seen as a potential turning point for markets. In corporate news, Discover Financial Services shares popped almost 13% in premarket trading on news that Warren Buffett-backed Capital One plans to buy the credit card issuer in a $35 billion deal that would create the sixth-largest US bank by assets. China's central bank also cut its key mortgage rate by a record amount in a bid to halt a worsening property crisis.

#StockMarket #UsFutures #Earnings #ConsumerResilience #Interest-rateCut

https://finance.yahoo.com/news/stock-market-today-us-futures-slide-as-earnings-take-center-stage-115556523.html


US asset managers ready for turn in China sentiment with products stacked up
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Despite three straight years of losses in Chinese markets and anti-Beijing rhetoric from Washington, some US asset managers are introducing products in the hope that Chinese stocks will rebound. The Institute of International Finance estimates $80 billion of outflows from Chinese portfolios last year, and the CSI 300 Index has fallen 43% from its record high. US fund managers argue that valuations make China hard to ignore, with the CSI 300 index currently trading at 12 times trailing 12-month earnings compared to the S&P 500 index's valuation of 24 times 12-month earnings. However, fund managers face economic and political challenges in China's markets, including US scrutiny of Chinese investments and an unpredictable regulatory environment. Some funds have closed due to the dour sentiment, while others are positioning themselves to profit if China rebounds.

#UsAssetManagers #ChinaSentiment #ChineseMarkets #ChineseStocks #Valuations #FundManagers

https://finance.yahoo.com/news/us-asset-managers-ready-turn-060814288.html


12 Best Blue Chip Stocks To Invest In According to Hedge Funds
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The article discusses the best blue chip stocks to invest in according to hedge funds. It highlights the importance of investing in high-quality blue chip stocks that can weather economic volatility. Russell Investments warns of elevated risks in 2024 due to the expected exhaustion of consumer savings. The article lists 12 blue chip stocks with the highest number of hedge fund investors, including Eli Lilly and Co, UnitedHealth Group Inc, JPMorgan Chase & Co, Berkshire Hathaway Inc, Apple Inc, Mastercard Inc, and Visa Inc. It provides details on each stock's performance, hedge fund ownership, and recent developments.

#BlueChipStocks #HedgeFunds #Investing

https://finance.yahoo.com/news/12-best-blue-chip-stocks-154713860.html


Top 15 Democratic Socialist Countries In Europe
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This article discusses the top 15 democratic socialist countries in Europe and provides an overview of social democracy. It mentions countries like Sweden, Denmark, Norway, Finland, and Germany that prioritize social welfare and workers' rights while maintaining market economies. It also highlights the differences between social democratic parties and democratic socialist parties, with the latter advocating for more radical policies. The article mentions famous democratic socialists like Bernie Sanders, Jeremy Corbyn, and Alexandria Ocasio-Cortez. It also acknowledges the failures of socialist countries like Russia and Venezuela due to authoritarian governance and mismanagement. The article further discusses the success of democratic socialist countries, particularly the Nordic countries, in various indicators of national performance. It mentions Alphabet Inc's investments in Norway's data infrastructure and Microsoft Corp's expansion in Europe. The article then provides a list of the top 15 democratic socialist countries in Europe based on rankings from the 2024 Social Progress Index and government expenditure percentages. It includes brief descriptions of each country's performance and characteristics. The article concludes by suggesting readers to check out the top 5 democratic socialist countries in Europe.

#DemocraticSocialism #SocialDemocracy #Europe #SocialWelfare #MarketEconomy #SocialistParties #FamousDemocraticSocialists #FailedSocialistCountries #NordicCountries #AlphabetInc #MicrosoftCorp #Top15DemocraticSocialistCountries

https://finance.yahoo.com/news/top-15-democratic-socialist-countries-181857008.html


Too early to call impact of layoffs on macro economy
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The article discusses the impact of recent layoffs on the macro economy. While there have been numerous news headlines about companies announcing layoffs, it is important to consider the broader context. Layoffs are a common occurrence in the economy, and the number of layoffs reported in the news may just reflect an ongoing phenomenon. The 1.6 million layoffs represent only 1.0% of total employment, and many people who are laid off return to work quickly. Additionally, the national layoff data is a bit stale, but the Labor Department's weekly tally of initial claims for unemployment insurance benefits shows that initial claims have been trending at levels historically associated with economic growth. While there is a case to be made that the economy may be closer to the end of the economic expansion, it is premature to conclude that the layoffs reported in the news are anything outside of what would be ordinary in an economic boom. The article also highlights that the stock market and the economy are not the same thing, and the metrics that define the U.S. economy may not always move hand-in-hand with the stock market. The article concludes by mentioning that Goldman Sachs has raised its year-end target for the S&P 500, reflecting an improved earnings outlook.

https://finance.yahoo.com/news/too-early-to-call-impact-of-layoffs-on-macro-economy-145756728.html


Stock market today: US futures point to bounce-back from inflation hit
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US stock futures rose on Wednesday, looking to find a footing after hotter-than-expected inflation data drove a selloff and dashed hopes for interest-rate cuts before the summer. Dow Jones Industrial Average (DJIA) futures added 0.2%, signaling a bounce back for the blue-chip index from a 500-point drop and its worst day since March 2022. Futures on the S&P 500 (^GSPC) put on roughly 0.4%, while those on the tech-heavy Nasdaq 100 jumped 0.5% — also on the heels of sharp declines. Shares in Microsoft and Apple were recovering somewhat in premarket after the rate-sensitive tech megacaps sank in the stock rout. Meanwhile, the 10-year Treasury yield pulled back slightly from the previous day's jump to trade around 4.29%.

#StockMarket #UsFutures #Inflation #DowJones #S&p500 #Nasdaq100 #Microsoft #Apple #10-yearTreasuryYield

https://finance.yahoo.com/news/stock-market-today-us-futures-point-to-bounce-back-from-inflation-hit-130130969.html


Yahoo Finance Chartbook: 6 charts show inflation is easing as spending holds up — but risks remain
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Inflation remains a top story on Wall Street as investors await interest rate cuts from the Federal Reserve. The next inflation reading, the January Consumer Price Index (CPI), will come out on Tuesday. Six charts show how inflation has declined faster than predicted while consumer spending has been strong, putting the Fed's goal of a 'soft landing' within reach. However, it's unclear whether inflation has come down for good. Wall Street strategists believe that the Fed needs to see sustained inflation at 2% before lowering interest rates. They expect the decline in inflation to be led by slower inflation in services, including housing. The Fed won't wait for core PCE inflation to hit 2% before lowering rates. Some strategists warn that another wave of inflation could occur in late spring/summer 2024.

#Inflation #FederalReserve #InterestRates #ConsumerSpending #WallStreet

https://finance.yahoo.com/news/yahoo-finance-chartbook-6-charts-show-inflation-is-easing-as-spending-holds-up--but-risks-remain-170806054.html


Traders See New Zealand Policy Error Risk in Rate-Hike Bet
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Swap traders are bracing for a possible interest-rate increase by the Reserve Bank of New Zealand in the coming months. Overnight indexed swap contracts are pricing in about a 50% chance RBNZ Governor Adrian Orr will lift the cash rate by a quarter point to 5.75% in the first half of the year. Traders had priced in a better than 60% chance of an RBNZ hike before data on Tuesday showed New Zealand inflation expectations sank to a 2-1/2-year low this quarter. Talk of a New Zealand rate hike gained momentum after ANZ Bank economists last week forecast the central bank would increase rates twice this year. Over in the US, rates traders have slashed wagers on a March rate cut from the Fed to a roughly 10% chance, after fully pricing in one at end-2023, amid signs that the US economy is holding up better than expected.

#InterestRates #ReserveBankOfNewZealand #RateHike #InflationExpectations #UsEconomy

https://finance.yahoo.com/news/traders-bet-policy-error-zealand-023907345.html


Biden calls on snack companies to stop shrinkflation
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U.S. President Joe Biden called on snack companies to stop shrinkflation, which is when businesses cut product sizes but keep prices the same. Biden described the practice as 'a rip-off' and urged companies to do the right thing. Although inflation appears to be slowing, the economy remains Americans' overall top concern. Biden did not name any specific companies but showed several brands in a video, including Gatorade, Doritos, Breyers, and Tostitos. Since taking office, Biden has advocated for lower supermarket prices and has pushed for lower drug costs and reduced fees in various industries.

#JoeBiden #Shrinkflation #Inflation #ConsumerPrices #SupermarketPrices #ProductSizes #Businesses #Brands

https://finance.yahoo.com/news/biden-calls-snack-companies-stop-171303583.html


Why the 1960s can help us understand our confusing economic mood
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The article explores how the economic boom and public pessimism of the 1960s can help us understand the current economic mood. The 1960s saw a combination of economic expansion and social unrest, with the economy not becoming a central concern until inflation became a problem later in the decade. The article draws parallels between the 1960s and the present day, highlighting the role of the economy in shaping public consciousness and the division among economists regarding the reasons for public dissatisfaction with the economy. It also discusses the impact of social issues and politics on the assessment of the nation's finances. The article mentions the University of Michigan consumer sentiment survey, which shows an improvement in consumer confidence but still remains below pre-pandemic levels. It also explores how the economy shaped the 1960s and the current era, with both periods marked by social changes and economic challenges such as rising consumer prices. The article concludes by discussing the possibility of 2024 being remembered like 1968, a year of social upheaval, and the lessons that can be drawn from both eras.

#1960s #EconomicMood #EconomicBoom #PublicPessimism #Inflation #SocialUnrest #ConsumerConfidence #SocialChange #Pandemic #RisingConsumerPrices #2024 #SocialUpheaval

https://finance.yahoo.com/news/why-the-1960s-can-help-us-understand-our-confusing-economic-mood-163052769.html


Inflation, retail sales, and corporate earnings: What to know this week
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The S&P 500 closed above 5,000 for the first time ever on Friday. The week ahead will bring a reading on inflation and consumer spending. Investors will also be watching corporate earnings reports, including those from John Deere and Shopify. The Consumer Price Index (CPI) for January is expected to show an annual gain of 2.9% for headline CPI and 3.7% for core inflation. The January retail sales report is expected to show a decline of 0.2%. Stellantis, the parent company of Chrysler and Fiat, is set to report earnings. Earnings reports have been positive overall, with 83% of US companies beating estimates. Economic data to watch includes the New York Fed one-year inflation expectations, NFIB Small Business Optimism, and MBA Mortgage Applications. Earnings reports to watch include Airbnb, Coca-Cola, Marriott International, and Wendy's.

https://finance.yahoo.com/news/inflation-retail-sales-and-corporate-earnings-what-to-know-this-week-150037590.html


Stock market today: US futures muted as S&P 500 closes in on 5,000 landmark
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US stock futures edged lower on Thursday as investors cheered chipmaker Arm's outlook and looked for fresh impetus in the latest batch of corporate results. S&P 500 futures slipped 0.1%, after the major benchmark closed just a few points shy of hitting 5,000 for the first time ever. Dow Jones Industrial Average futures were just below the flatline, while those on the tech-heavy Nasdaq 100 dipped 0.2%. Shares in Arm soared over 25% in premarket trading, boosting hopes that AI and techs will keep buoying the market. Disney shares rose almost 8% as investors welcomed its earnings beat and deals with Taylor Swift and Fortnite maker Epic Games. Danish shipping giant Maersk's warning about a freight slowdown rattled investors, with its shares slumping 15% after the company said it will suspend share buybacks. Consumer prices in China fell by the most since 2009 amid the global financial crisis. Traders have scaled back on bets on a March interest rate cut thanks to caution from central bank officials. Richmond Fed president Tom Barkin is set to add his comments on Thursday, while the weekly jobless claims report due later could also move the needle on policy expectations given December's blockbuster jobs report.

#StockMarket #UsFutures #S&p500 #Arm #CorporateResults #DowJonesIndustrialAverage #Nasdaq100 #Ai #Tech #Disney #TaylorSwift #EpicGames #Maersk #FreightSlowdown #China #ConsumerPrices #InterestRateCut #CentralBankOfficials #RichmondFed #JoblessClaimsReport

https://finance.yahoo.com/news/stock-market-today-us-futures-muted-as-sp-500-closes-in-on-5000-landmark-124045485.html


Powell pledges to keep the Fed above politics in 2024. It's never that simple.
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Federal Reserve Chair Jerome Powell pledges to keep the Fed independent of politics in 2024, but history suggests it's never that straightforward. Powell's predecessors had to navigate monetary policy decisions amid rising political pressure. The 'Great Inflation' era in the 1970s and early 80s saw political forces delaying and undermining anti-inflation policies. However, the political acceptance of harsh measures during the 1980 election allowed Paul Volcker to successfully fight inflation. Other examples include Alan Greenspan's relationship with the Bush family and Ben Bernanke's PR offensive in 2008. Powell, a Republican, cites his bipartisan record as evidence of his ability to navigate politics. However, former President Donald Trump has criticized Powell and suggested he will do something to help the Democrats. Powell emphasizes the Fed's non-political nature and integrity.

#FederalReserve #JeromePowell #Politics #MonetaryPolicy #Inflation #Election #PaulVolcker #AlanGreenspan #BenBernanke #DonaldTrump

https://finance.yahoo.com/news/powell-pledges-to-keep-the-fed-above-politics-in-2024-its-never-that-simple-090015842.html


Stock market today: US stocks close lower as early rate cut hopes fade
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US stocks closed lower as Federal Reserve Chair Jerome Powell dashed hopes of an early interest rate cut. The S&P 500 ended the session down 0.3%, the Dow Jones Industrial Average shed about 0.7%, and the Nasdaq Composite fell 0.2%. Powell's comments in a '60 Minutes' interview reiterated the central bank's cautious approach to rate cuts. Traders scaled back their bets on rate cuts, causing US bonds to sink and the 10-year Treasury yield to rise to 4.17%. Investors are now looking to quarterly corporate earnings reports for inspiration.

#UsStocks #InterestRateCut #FederalReserve #S&p500 #DowJones #NasdaqComposite #CorporateEarnings

https://finance.yahoo.com/news/stock-market-today-us-stocks-close-lower-as-early-rate-cut-hopes-fade-210114813.html


Why Wall Street is still bullish on stocks even with March rate cut hopes dashed
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Federal Reserve Chair Jerome Powell stated that inflation is coming down, growth has been strong, and the labor market is strong, which is good news for the stock market. Strategists believe that the timing of the Federal Reserve's interest rate cut is not as important as the fact that there will be an easing of policy, creating a positive environment for companies. Consensus estimates project interest rates to end 2024 around 4%, indicating that the bullish outlook for stocks in 2024 and 2025 remains unchanged. Short-term investors are more concerned about the timing of the rate cut, while long-term investors focus on underlying fundamentals like earnings. Overall, Wall Street remains optimistic about stocks despite dashed hopes for a March rate cut.

#WallStreet #Stocks #InterestRateCut #FederalReserve #Economy

https://finance.yahoo.com/news/why-wall-street-is-still-bullish-on-stocks-even-with-march-rate-cut-hopes-dashed-113017736.html


Stock market today: S&P 500 hits record high after jobs report, tech earnings thrill investors
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The S&P 500 rose 1.1% to reach a record high after a strong January jobs report and positive earnings from tech giants. The jobs report showed that the economy added 353,000 jobs in January, surpassing expectations. The unemployment rate remained unchanged at 3.7%. Tech giants Amazon and Meta (formerly Facebook) reported strong earnings, boosting investor sentiment. The S&P 500 and Nasdaq Composite gained 1.1% and 1.7% respectively. The positive earnings reports from tech companies contrasted with disappointing results from Apple. The Federal Reserve's rate path may be influenced by the strong labor market. The first rate cut is now expected in May. The stock market rally was also fueled by a surge in Meta's stock, which is on track for the biggest single-day market cap gain in history. Chevron and ExxonMobil reported better-than-expected earnings, with Chevron posting record annual worldwide and US production. The S&P 500 and Nasdaq Composite reached record highs, while the Dow Jones Industrial Average climbed 0.4%. The labor market recovery from the COVID-19 pandemic is now complete, with every major sector of the US economy fully recovered. The US economy added 353,000 nonfarm payroll jobs in January, exceeding expectations. Average hourly earnings rose 0.6% over last month and 4.6% over last year. The Federal Reserve is unlikely to cut rates in March, according to Chairman Jerome Powell. Apple CEO Tim Cook expressed excitement about the company's upcoming AI initiatives. The positive earnings reports from tech giants have raised investor expectations for outstanding results. The blowout jobs report showed a significant uptick in wage growth, which could offset inflationary pressures. The blowout jobs report and strong earnings from tech giants powered the market to a winning finish. The S&P 500 rose 1.1% to reach a record high, while the Dow Jones Industrial Average climbed 0.4% and the Nasdaq Composite gained 1.7%.

#StockMarket #S&p500 #JobsReport #TechEarnings

https://finance.yahoo.com/news/stock-market-today-sp-500-hits-record-high-after-jobs-report-tech-earnings-thrill-investors-143400775.html


Latest jobs report signals that interest rates are unlikely to drop anytime soon
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The latest jobs report showed that 353,000 jobs were added in January, exceeding expectations. This indicates that the U.S. economy remains strong. However, it also suggests that there is no rush for the Federal Reserve to cut interest rates. Fed Chair Jerome Powell stated that a rate cut in March is unlikely due to high inflation. Economists predict that a rate cut in May is also unlikely. The jobs report revealed some concerns, such as an acceleration in average hourly earnings without a corresponding change in hours worked. Despite these concerns, the consensus among analysts is that higher interest rates will persist for the time being.

#JobsReport #InterestRates #U.s.Economy #FederalReserve #Inflation

https://finance.yahoo.com/news/latest-jobs-report-signals-interest-184357993.html


BOE Chief Economist Warns UK Rate Cuts Are Still ‘Some Way Off’
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Bank of England Chief Economist Huw Pill stated that the first interest rate reduction in the UK is still 'some way off' despite indications that borrowing costs have likely peaked. Pill emphasized the need for policy to remain restrictive until inflation has been squeezed out of the system. The remarks tempered expectations of rapid rate cuts this year, causing investors to drop bets for a full percentage point of reductions by December. The BOE's forecasts indicate that lower borrowing costs will soon be necessary to prevent a recession, but Pill stated that those projections are conditional on inflation evolving as expected. The Monetary Policy Committee's recent vote to maintain the key rate at 5.25% was deeply divided, with one member wanting to lower rates to 5% and two voting to raise them to 5.5%. Pill expressed concern about weak activity in the UK, while Governor Andrew Bailey stated that the economy appeared to be picking up.

#BankOfEngland #UkInterestRates #HuwPill #MonetaryPolicyCommittee #Inflation #EconomicForecast

https://finance.yahoo.com/news/boe-chief-economist-warns-uk-144535823.html


Stock market today: Stocks mostly rise after jobs report whopper, tech earnings
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Stocks mostly rose in the stock market today following a blowout January jobs report and strong tech earnings. The S&P 500 rose 0.4%, the Dow Jones Industrial Average slipped 0.2%, and the Nasdaq Composite gained almost 1%. The jobs report exceeded expectations, with the economy adding 353,000 jobs in January and the unemployment rate remaining unchanged at 3.7%. Tech giants Amazon and Meta reported strong earnings, while Apple fell due to concerns about its China business. The US labor market has now fully recovered from losses seen during the pandemic, with every major sector of the economy back to pre-COVID levels. The positive jobs report and earnings results may impact the Federal Reserve's rate path.

#StockMarket #JobsReport #TechEarnings

https://finance.yahoo.com/news/stock-market-today-stocks-mostly-rise-after-jobs-report-whopper-tech-earnings-143400377.html


What January's hot jobs data could signal for the Fed
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The US economy added 353,000 jobs in January, exceeding expectations of 185,000. Wage growth also rose above expectations, reaching its fastest pace since July 2023. The strong jobs data indicates the continued momentum of the US economy. However, it has sparked concerns about the Federal Reserve's policy path and potential inflationary pressures. The Federal Reserve Chair, Jay Powell, recently mentioned that they were no longer worried about a wage growth spiral, but the current wage growth numbers contradict that statement. The hot job market and wage growth could potentially lead to higher inflation and impact the Fed's decision on interest rates. The timing of a potential rate cut is uncertain, but the market remains optimistic about a rate cut before the end of the first half of the year.

#UsEconomy #JobsData #FederalReserve #Inflation #InterestRates

https://finance.yahoo.com/video/januarys-hot-jobs-data-could-145534433.html


US Payrolls Surge by 353,000 at Start of Year, Wages Also Jump
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US employers added 353,000 workers in January, the most in a year, and wages increased at the fastest pace since March 2022, according to a Bureau of Labor Statistics report. The unemployment rate remained at 3.7%. The strong jobs report is likely to delay any Federal Reserve interest-rate cuts. The data raise questions about the gradual downshift in hiring that had tempered wage growth and helped bring inflation down. Fed officials are hoping for strong employment growth while also seeking more moderate pay gains and confirmation that inflation will continue to slow. The report also noted that severe winter weather in January led to a decline in hours worked and the most employees not working due to bad weather in almost three years.

#UsPayrolls #Wages #LaborMarket #FederalReserve #UnemploymentRate #Inflation

https://finance.yahoo.com/news/us-payrolls-surge-353-000-135051845.html


PGA Tour Inks $3 Billion Deal With Fenway, Steve Cohen Group
==========

The PGA Tour has approved an investment of up to $3 billion by Strategic Sports Group (SSG) in a new commercial entity. The deal, led by John Henry's Fenway Sports Group, will feature an initial investment of $1.5 billion, with a further $1.5 billion potentially injected by SSG's consortium of investors. The transaction values the new entity at about $12 billion. The deal does not currently include Saudi Arabia's Public Investment Fund (PIF), but ongoing talks are taking place for PIF to make an investment in the future. Almost 200 PGA Tour members will have the opportunity to become equity holders in the new company, PGA Tour Enterprises. Other parties in the consortium include Steve Cohen's family office Cohen Private Ventures, Avenue Sports Fund, and various sports team owners.

#PgaTour #StrategicSportsGroup #FenwaySportsGroup #SteveCohen #Investment

https://finance.yahoo.com/news/pga-tour-said-approve-3-131511348.html