Oil prices rise on US inventories drawdown expectations, CPI focus
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Oil prices rose on Wednesday on expectations for higher demand as the U.S. dollar weakened and a report showed U.S. crude and gasoline inventories fell while the release of inflation data may point to a more supportive economic outlook. Brent crude futures were up 51 cents, or 0.6%, at $82.89 a barrel at 0630 GMT. U.S. West Texas Intermediate crude futures (WTI) rose 55 cents, or 0.7%, to $78.57 a barrel. U.S. crude oil inventories fell 3.104 million barrels in the week ended May 10, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 1.269 million barrels and distillates rose by 673,000 barrels. U.S. government inventory data is due later on Wednesday and are likely to also show a drop in crude stockpiles as refineries increase their runs to meet increased fuel demand heading into the peak summer driving season. "Expectations of another drawdown in U.S. oil inventories should support oil prices," ANZ Research said in a note. U.S. consumer price index (CPI) data is also due on Wednesday and should give a clearer indication whether the Federal Reserve may cut interest rates later this year, which could spur the economy and boost fuel demand. Oil prices also found support from a softer U.S. dollar and stimulus measures from China, said independent market analyst Tina Teng, with a weaker greenback making dollar-denominated oil cheaper for investors holding other currencies. Teng was referring to China's plans to raise 1 trillion yuan ($138.39 billion) in long-term special treasury bonds this week to raise funds to stimulate key sectors of its flagging economy, which is the world's largest oil importer. Prices were also supported by concerns around Canadian oil supply, a key exporter to the U.S. A large wildfire is approaching Fort McMurray, the hub for Canada's oil sands industry that produces 3.3 million barrels per day of crude, or two-thirds of the country's total output.

#OilPrices #UsInventories #Cpi #EconomicOutlook

https://finance.yahoo.com/news/oil-prices-wildfires-canada-us-003439971.html


Biden investments will restore manufacturing capacities: USW leader
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President Biden has signed off a new round of tariffs on China to restore manufacturing capacities and compete with China's overwhelming manufacturing output. The United Steelworkers (USW) International VP Roxanne Brown discusses the impact of China's manufacturing encroachments on domestic steel plants and local communities. Brown highlights that President Biden's investment policies, along with tariffs, will help domestic industry grow in the long term. She anticipates steel prices to level out as capacity returns to manufacturing hubs and confidence returns to the US economy. The Biden administration's industrial policies have had a positive impact on increasing capacity and hours of work in various sectors, including critical materials, mining, paper, and glass. Brown believes that the next decade looks promising for America's steel sector due to the foundation laid by the bipartisan Infrastructure Law, the Inflation Reduction Act, and the Chips and Science Act.

#Biden #Manufacturing #China #Tariffs #Steel #DomesticIndustry

https://finance.yahoo.com/video/biden-investments-restore-manufacturing-capacities-234000398.html


Oil extends fall on signs of weak fuel demand, strong dollar
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Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in the world's biggest economy. Brent crude futures slid 25 cents, or 0.3%, to $82.54 a barrel by 0505 GMT, while U.S. West Texas Intermediate crude futures were at $78.07 a barrel, down 19 cents, or 0.2%. China's producer price index (PPI) contracted in April, suggesting that business demand remained sluggish. Both benchmarks settled about $1 lower on Friday as Fed officials debated whether U.S. interest rates are high enough to bring inflation back to 2%. Oil prices also fell amid signs of weak demand, as U.S. gasoline and distillate inventories rose in the week ahead of the start of the U.S. driving season. Refiners globally are struggling with slumping profits for diesel as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand. The market remained supported by expectations that OPEC+ could extend supply cuts into the second half of the year. Iraq, the second-largest OPEC producer, is committed to voluntary oil production cuts agreed by OPEC and is keen to cooperate with member countries on efforts to achieve more stability in global oil markets. The oil rig count in the U.S. fell by three to 496 last week, their lowest since November.

#OilPrices #FuelDemand #FederalReserve #InterestRateCuts #Inflation #Opec #Iraq #OilRigCount

https://finance.yahoo.com/news/oil-extends-decline-signs-weak-004830876.html


Bond Traders Wait for CPI to Fuel — or Doom — the Market’s Rally
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The release of the April consumer-price index on Wednesday is poised to provide the biggest test yet of the rally that started this month when Federal Reserve Chair Jerome Powell swatted away worries that the central bank may raise interest rates again. This year’s previous CPI reports fueled bond-market selloffs as faster-than-expected readings fanned worries that the Fed’s gains against inflation have stalled. The CPI is expected to show slowing in inflation. The core rate — which is seen as the best gauge of underlying pressures, because it excludes volatile food and energy costs — is expected to have risen by 0.3% in April from a month earlier, down from 0.4% in March, according to forecasters surveyed by Bloomberg. The overall index is seen rising by 3.4% from a year earlier, compared with the 3.5% increase in March.

#BondMarket #Cpi #FederalReserve #InterestRates #Inflation

https://finance.yahoo.com/news/bond-traders-wait-cpi-fuel-190000912.html


Inflation and consumer spending updates ahead: What to know this week
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The article discusses the upcoming economic updates for the week, including inflation and consumer spending data. The S&P 500 rallied during the previous week, with the Nasdaq Composite rising just under 1% and the S&P 500 popping almost 2%. The Dow Jones Industrial Average rose more than 2% and closed higher for eight straight sessions. In the week ahead, investors will be watching for the April inflation reading, which is expected to show an annual gain of 3.4% for headline CPI and 3.6% for core CPI. The article also highlights the importance of retail sales data and provides an overview of the earnings reports expected from Walmart, Home Depot, and Alibaba. The author notes that the market is currently pricing in less than two interest rate cuts this year, and a positive inflation report could push the number of expected rate cuts higher. The article concludes by discussing the market's reaction to economic data and the correlation between the S&P 500 and economic surprise.

#Inflation #ConsumerSpending #EconomicUpdates #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #RetailSales #EarningsReports #InterestRateCuts

https://finance.yahoo.com/news/inflation-and-consumer-spending-updates-ahead-what-to-know-this-week-133436286.html


Stock market today: Dow pops for 7th straight day as S&P 500 climbs back above 5,200
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US stocks rose Thursday as more evidence showed the US labor market continued to cool, reviving hopes for a rate cut by the fall. The Dow Jones Industrial Average (DJIA) rose about 0.9%, or almost 350 points, extending its winning streak to seven trading sessions. The S&P 500 (^GSPC) gained 0.5%, moving back above the 5,200 closing level for the first time since April 9. The tech-heavy Nasdaq Composite (^IXIC) rose 0.2%. Weekly jobless claims data released on Thursday came in at 231,000, an increase of 22,000 from the prior week and the highest level since August. In the corporate world, a downbeat annual revenue forecast from Arm cast doubt on the hopes for AI growth that have boosted chip stocks. The chip designer's shares fell around 2%, with sector peers Nvidia and AMD also down slightly. Real Estate and Utilities led the sector action, while Technology and Communications Services lagged the S&P 500. Mortgage rates slipped for the first time in over a month, with the 30-year fixed mortgage rate hitting 7.09%. Economic data is softening, but 'we're still a long way from recession'. Warner Bros. Discovery 'always looking at opportunities' amid Paramount buyout talks. Roblox shares fell roughly 21% after the gaming platform slashed its annual bookings forecast, raising concerns of lower player engagement. S&P 500 breaks back above 5,200. Major averages in green territory, Dow jumps 200 points. Jobless claims hit highest level since August 2023. The one line of caution in Tapestry's earnings report. Ahead of key CPI data release next week, one grocer weighs in. Hard to poke holes in Robinhood's quarter.

#StockMarket #DowJones #S&p500 #UsLaborMarket #RateCut #WeeklyJoblessClaims #Arm #AiGrowth #ChipStocks #RealEstate #Utilities #Technology #CommunicationsServices #MortgageRates #EconomicData #Recession #WarnerBrosDiscovery #ParamountBuyoutTalks #Roblox #Tapestry #CpiData #Robinhood

https://finance.yahoo.com/news/live/stock-market-today-dow-pops-for-7th-straight-day-as-sp-500-climbs-back-above-5200-200020212.html


Technology crushing human creativity? Apple's 'disturbing' new iPad ad has struck a nerve online
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Apple's new iPad Pro ad, which shows a hydraulic press crushing creative instruments and promoting the thinness of the device, has received criticism for being tone-deaf and for symbolizing technology crushing human creativity. Critics argue that the ad comes at a time when many people feel uncertain about the impact of technological advances on their work and routines. The commercial has also been seen as a departure from Apple's previous marketing approach, which focused on uplifting creativity and individuality. The ad has sparked discussions about the negative impact of big tech on creatives. The new iPad Pro features a thinner design, a new M4 processor, upgraded storage, and dual OLED panels. Apple is aiming to boost demand for iPads after a 17% decline in sales during the January-March period.

#Apple #IpadPro #Advertising #Technology #Creativity

https://finance.yahoo.com/news/technology-crushing-human-creativity-apples-174552294.html


Stock market today: Wall Street limps toward second straight day of losses before the bell
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Wall Street is heading for a second consecutive day of losses as more corporate earnings are released and ahead of the government's weekly layoffs data. Futures for the S&P 500 and Dow Jones Industrial Average are down, while Airbnb, Beyond Meat, and Robinhood are experiencing significant stock movements. Companies have been reporting stronger profits for Q1 2024 than expected, and hopes for interest rate cuts by the Federal Reserve have helped the US stock market recover from a rough April. In Europe, the FTSE 100 reversed course to a 0.4% gain after the Bank of England maintained its key interest rate at 5.25% but hinted at a possible rate reduction. In Asia, the Nikkei 225 index was down 0.3% and China reported renewed growth in exports and imports. US benchmark crude oil rose to $79.58 per barrel, and the euro dropped to $1.0731.

#StockMarket #WallStreet #Earnings #InterestRates #Ftse100 #BankOfEngland #Nikkei225 #China #CrudeOil #Euro

https://finance.yahoo.com/news/stock-market-today-asian-shares-073719739.html


Dollar firm as US CPI data looms; hawkish BOJ policymakers pause yen slide
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The dollar held mostly steady as traders await next week's US inflation data and its implications for Federal Reserve policy. The yen found support in the Bank of Japan's summary of opinions, which showed board members were overwhelmingly hawkish at their April policy meeting. The market remains biased for the upside for dollar/yen due to the chasm between Japan's ultra-low yields and those in the United States. Market focus will soon shift to the April US producer price index (PPI) and consumer price index (CPI) for signs of inflation. The Bank of England is likely to take another step towards its first interest rate cut in four years as inflation falls. China's exports and imports returned to growth in April, potentially delaying rate cuts. Bitcoin rose 0.09% to $61,618.12.

#Dollar #UsCpiData #Boj #Yen #Inflation #FederalReserve #BankOfJapan #InterestRates #BankOfEngland #ProducerPriceIndex #ConsumerPriceIndex #China #Exports #Imports #Bitcoin

https://finance.yahoo.com/news/dollar-holds-ground-key-inflation-014359990.html


Stock market today: Dow aims for 6th day of gains while Nasdaq slips
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US stocks were mixed on Wednesday as investors weighed a fresh batch of earnings reports and the possibility of a corporate America-spurred revival. The Dow Jones Industrial Average rose 0.3%, while the S&P 500 ticked down just below the flat line. The tech-heavy Nasdaq Composite edged down about 0.2%. Federal Reserve policymaker Neel Kashkari signaled that rates are likely to stay at historic highs for a while, dampening the rally. Uncertainty about corporate earnings also gave some investors pause. Uber's forecast for a key bookings metric missed the mark, while Shopify shares plunged after forecasting its slowest quarterly revenue growth in two years. Quarterly updates from AMC Entertainment and Robinhood will be watched for signs of a meme stock-like surge. Warner Bros. Discovery will report first-quarter earnings, with investors closely watching for updates on NBA media rights. The Atlanta Fed GDPNow indicator projects 4.2% economic growth in Q2, up from a prior forecast of 3.3%. Reddit stock rose after its first-ever quarterly earnings report, while Tesla slid after reports of a DOJ probe into securities or wire fraud. US stocks opened lower, and the 10-year Treasury yield edged higher. Reddit's quarter showed adjusted operating profitability for the first time, low capital expenditures, accelerating international sales, and favorable ad market commentary.

#StockMarket #DowJones #Nasdaq #EarningsReports #FederalReserve #InterestRates #CorporateEarnings #Uber #Shopify #AmcEntertainment #Robinhood #WarnerBrosDiscovery #NbaMediaRights #AtlantaFedGdpnow #Reddit #Tesla #DojProbe #10yearTreasuryYield

https://finance.yahoo.com/news/live/stock-market-today-dow-aims-for-6th-day-of-gains-while-nasdaq-slips-121113345.html


US Dollar Flexes Muscles Against Other Major Currencies: Is Now The Time To Buy?
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The U.S. dollar has exhibited remarkable strength against major currencies, hitting significant highs against the euro and the Japanese yen. Federal Reserve Chair Jerome Powell's remarks signaling a potential need for sustained higher interest rates amid persistent inflationary pressures have contributed to the dollar's surge. Retail sales figures for March exceeded expectations, further bolstering confidence in the U.S. economy. The U.S. GDP grew at an annualized rate of 1.6% in the first quarter of 2024, falling short of economists' expectations. U.S. inflation levels remained high, with consumer spending rising by 2.5% during the same period. Market sentiment regarding future rate cuts has shifted, with traders now anticipating fewer rate reductions than previously expected. Geopolitical tensions, particularly in the Middle East, have fueled demand for the dollar as a safe-haven asset. The dollar's popularity as a safe haven asset has risen, dominating other asset classes such as cryptocurrencies. The US Dollar Index has gained 4.24% so far this year.

#UsDollar #CurrencyExchange #FederalReserve #Inflation #Gdp

https://finance.yahoo.com/news/us-dollar-flexes-muscles-against-140011608.html


China's manufacturing won't fix consumer demand: Fmr. Australian PM
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Former Prime Minister of Australia Kevin Rudd, currently the Ambassador of Australia to the US, explains at the 2024 Milken Conference that China's economic woes are due to a problem on the demand side of the economy, not the supply side. He expresses concern about China's medium-term growth trajectory and highlights China's industrial policy in areas such as electric vehicles, electronic devices, and semiconductors. Ambassador Rudd also mentions China's abundance of data and its impact on AI and data collection. The article does not provide specific dates or numbers.

#China #Manufacturing #ConsumerDemand #EconomicGrowth #IndustrialPolicy

https://finance.yahoo.com/video/chinas-manufacturing-wont-fix-consumer-232550502.html


Will There Be Stimulus Checks in 2024?
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During the COVID-19 pandemic, the US government provided stimulus relief payments totaling $814 billion. As of now, there are no plans for another round of stimulus checks in 2024. Last year, there were rumors of a fourth round of stimulus payments, but the government has confirmed that all Economic Impact Payments have been distributed. Despite the improved economy, many Americans are still feeling the financial impact of the pandemic, with inflation and financial despair lingering. However, individuals will need to explore other ways to improve their financial situation as there are no indications of additional stimulus checks at this time.

#StimulusChecks #Covid19 #FinancialAid #EconomicImpact #Inflation

https://finance.yahoo.com/news/stimulus-checks-2024-110106023.html


Asian Stocks Eye Positive Start as China Returns: Markets Wrap
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Asian equity markets are expected to have a strong open as China returns from a three-day holiday and the softer-than-expected US jobs report revives bets that the Federal Reserve will cut rates this year. US stock futures edged higher, and contracts in Australia and Hong Kong point to gains on Monday. A gauge of Chinese shares listed on the Nasdaq rose 5.5% last week, indicating a strong open when mainland markets reopen. Japanese markets are closed for a holiday. Global stocks rose for a second week, and US Treasuries rallied following the payrolls release. Weaker-than-estimated data points last week sent the US version of Citigroup’s Economic Surprise Index to the lowest since February 2023. The positive sentiment comes after a cooldown in wages appeased investors worrying about “stagflation” or a recession. Oil rose in early trading after Israel closed the Kerem Shalom humanitarian crossing into Gaza on Sunday following a rocket barrage fired by Hamas. Traders will also be mindful of a swath of central bank meetings this week, led by a likely hawkish Reserve Bank of Australia on Tuesday. Chinese activity data as well as inflation readings in key emerging markets are also due.

#AsianStocks #China #UsJobsReport #FederalReserve #UsTreasuries #Citigroup’sEconomicSurpriseIndex #Wages #Stagflation #Recession #Oil #Israel #Hamas #CentralBankMeetings #ReserveBankOfAustralia #ChineseActivityData #Inflation

https://finance.yahoo.com/news/asian-stocks-eye-positive-start-223227877.html


Berkshire Hathaway annual shareholders meeting: Warren Buffett takes stage without Charlie Munger for first time
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Warren Buffett takes the stage at the Berkshire Hathaway annual shareholders meeting without Charlie Munger for the first time. Munger passed away late last year at the age of 99. Buffett, along with Berkshire vice chairs Greg Abel and Ajit Jain, answered questions from shareholders. Buffett discussed the company's decision to pare its holdings of Apple and the growing pile of cash and Treasury holdings. He also expressed caution about AI and reiterated his commitment to investing in the United States. Buffett revealed that the two stocks Munger argued hardest for were BYD and Costco. Berkshire's first quarter earnings showed a record operating profit, but investment gains were down due to Apple's decline. Berkshire also lightened up its Apple holdings during the first quarter.

#BerkshireHathaway #WarrenBuffett #CharlieMunger #AnnualShareholdersMeeting #Apple #Byd #Costco #Investments #Ai #UnitedStates

https://finance.yahoo.com/news/live/berkshire-hathaway-annual-shareholders-meeting-warren-buffett-takes-stage-without-charlie-munger-for-first-time-132011030.html


This week in Bidenomics: No stag, no 'flation, just consternation
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Federal Reserve Chair Jerome Powell dismisses the idea of stagflation in the US economy, citing inflation at 3.5% and unemployment at 3.9%. However, consumer confidence has fallen for three months in a row, and stock market investors are uncertain about the trajectory of inflation. The soft jobs report for April, with 175,000 jobs added (65,000 less than expected), suggests a weakening labor market, which could be good for inflation. If the deflationary trend continues, it may lead to modest Fed rate cuts and bullish stock market conditions. Despite record job growth and a rebound from the COVID pandemic, voters have not given President Biden credit for the economy's positive aspects and have focused on inflation. There are signs that workers are noticing a tightening labor market, which could impact Biden's reelection prospects.

#Bidenomics #Stagflation #Inflation #Unemployment #ConsumerConfidence #StockMarket #JobsReport #FederalReserve #PresidentBiden

https://finance.yahoo.com/news/this-week-in-bidenomics-no-stag-no-flation-just-consternation-192404618.html


Acting Labor Secy. talks April jobs data and overtime pay rule
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April's jobs report data reveals an addition of 175,000 jobs added to the US economy, below estimates of 240,000. Annual wage growth also slowed. Acting Labor Secretary Julie Su discusses the steps the Biden administration is taking to aid the American worker, including new legislation to enable accessibility to overtime pay. Secretary Su states that April's job growth is a continuation of the strong, steady job growth seen since President Biden came into office. The new overtime pay rule aims to restore fair pay for a hard day's work and ensure that millions more Americans who work over 40 hours in a week receive the pay they deserve. Secretary Su also addresses the obstacles preventing women from rejoining the US labor market full-time.

#JobsReport #OvertimePay #BidenAdministration #AmericanWorker

https://finance.yahoo.com/video/acting-labor-secy-talks-april-151822854.html


US hiring slows more than expected in sign of cooler market
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The United States added 175,000 jobs in April, missing analyst expectations significantly. The unemployment rate edged slightly higher from 3.8 percent in March to 3.9 percent last month. While hiring has decelerated, the number of jobs added in April remains well above 100,000. Wage growth came in at 0.2 percent in April, slipping below 4.0 percent for the first time since 2021. The Federal Reserve is ready to respond to an unexpected weakening in the jobs market. The underlying economic story is that businesses, especially small, bank-dependent firms, are feeling the pressure from sustained high real interest rates.

#UsEconomy #JobMarket #Unemployment #WageGrowth #FederalReserve

https://finance.yahoo.com/news/us-hiring-slows-more-expected-131254476.html


U.S. Department of Energy Selects Perma-Fix to Participate in Nationwide DD&R Small Business IDIQ Contract
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Perma-Fix Environmental Services, Inc. has been selected by the U.S. Department of Energy (DOE) Office of Environmental Management (EM) to participate in a 10-year, small business set-aside, multiple-award Indefinite Delivery/Indefinite Quantity (IDIQ) contract. The contract is for providing nationwide Deactivation, Decommissioning and Removal (DD&R) services for EM sites, the National Nuclear Security Administration (NNSA), Office of Naval Reactors (ONR), and the Office of Science (SC). The Perma-Fix team is one of fourteen small businesses selected and will be eligible to compete for firm fixed price and cost reimbursement task orders with a maximum ceiling of $2 billion over a 10-year period. Mark Duff, President and CEO of Perma-Fix, expressed honor at being chosen and highlighted the company's reputation, technical capabilities, and track record in addressing environmental challenges. Perma-Fix Environmental Services, Inc. is a nuclear services company that provides nuclear and mixed waste management services, including management and treatment of radioactive and mixed waste for hospitals, research labs, federal agencies, and the commercial nuclear industry. The company operates four nuclear waste treatment facilities and provides nuclear services nationwide.

#UsDepartmentOfEnergy #PermafixEnvironmentalServices #NuclearWasteManagement #Dd&r #Contract

https://finance.yahoo.com/news/u-department-energy-selects-perma-123000462.html


Stock market today: Wall Street advances in premarket ahead of key US jobs report
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Wall Street is expected to make gains ahead of the release of the US employment report, which is expected to show a slowdown in hiring from March. The US economy is in a tight spot, hoping to remain strong enough to avoid a recession but not so strong that it worsens inflation. In equities trading, Apple rose 6% after raising its dividend and announcing a $110 billion share buyback. Expedia fell 12.2% after beating Wall Street targets but lowering its full-year bookings guidance. In Asian trading, Hong Kong's Hang Seng jumped 1.5% and technology shares saw gains after fresh moves by Chinese leaders to energize the economy.

#StockMarket #UsJobsReport #WallStreet #UsEconomy #Apple #Expedia #HongKongHangSeng

https://finance.yahoo.com/news/stock-market-today-asian-shares-065639151.html


Oil prices set for steepest weekly drop in 3 months
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Oil prices edged up on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for the steepest weekly losses in three months on demand uncertainty and easing tensions in the Middle East reducing supply risks. Brent crude futures for July rose 24 cents to $83.91 a barrel by 0514 GMT. U.S. West Texas Intermediate crude for June was up 19 cents, or 0.3%, to $79.19 per barrel. Both benchmarks were on track for weekly losses as investors worried about the prospect of higher-for-longer interest rates curbing growth in the U.S., the top global oil consumer, and in other parts of the world. Brent headed for a 6.3% weekly decline, while WTI moved towards a loss of 5.6% on the week. Three sources from OPEC+ producers said the group could extend its voluntary oil output cuts of 2.2 million barrels per day beyond June if oil demand fails to pick up, but the group has yet to begin formal talks ahead of the June 1 meeting.

#OilPrices #Opec+ #DemandUncertainty #MiddleEastTensions #SupplyRisks

https://finance.yahoo.com/news/oil-steadies-heads-weekly-drop-005149579.html


Stock market today: Stocks climb as Fed rate-hike fears fade, with Apple on deck
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US stocks rose as investors set aside rate worries after the Federal Reserve's policy decision. The S&P 500 rose roughly 0.9%, the Dow Jones Industrial Average gained about 0.8%, and the Nasdaq Composite led the gains, up 1.5%. Apple's stock rose more than 3% in after-hours trade after the company reported better-than-expected quarterly results, increased its dividend, and announced plans to authorize a $110 billion share repurchase program. The April jobs report, due Friday, is in full focus as Wall Street watches for any signs of cracks in the strong labor market story. Home prices in major US metro areas rose or stayed flat for the first time in nearly two years due to low supply. Carvana's stock soared 34% after the online car platform posted a surprise profit for its latest quarter. Semiconductor stocks, including Qualcomm and ASML, were among the biggest gainers in the tech sector. Bitcoin rebounded to $59,000 following a record daily outflow from spot bitcoin ETFs. Paramount Global's stock jumped 10% after Sony Pictures Entertainment and Apollo Global Management expressed interest in purchasing the media giant for $26 billion. Homebuyers are turning to adjustable-rate mortgages as rates hover above 7% for the third straight week. The Fed's decision to hold rates steady brought relief to the bond market, with the 10-year Treasury yield declining to its lowest level in three weeks. The unemployment rate is defying traditional economic indicators, holding under 4% for the 27th straight month. Markets showed signs of relief after Fed Chair Jerome Powell downplayed the likelihood of an interest-rate hike. Carvana, Qualcomm, and Peloton were among the trending tickers on Yahoo Finance. The tech sector, particularly semiconductor stocks, rose on Thursday. Bitcoin rebounded after a record outflow from spot bitcoin ETFs. Carvana's stock soared after the online car platform posted a surprise profit. Apple's earnings report is highly anticipated. The Fed's decision to hold rates steady brought relief to the bond market. Home prices rose or stayed flat in major US metro areas for the first time in nearly two years. Homebuyers are turning to adjustable-rate mortgages as rates remain high. Paramount Global's stock jumped after Sony Pictures Entertainment and Apollo Global Management expressed interest in purchasing the media giant. The unemployment rate remains low despite low labor churn. Markets celebrated the Fed's decision to hold rates steady. Carvana's stock jumped after the company reported better-than-expected quarterly results. Semiconductor stocks, including Qualcomm and ASML, rose in the tech sector. Bitcoin rebounded after a record outflow from spot bitcoin ETFs. Apple's earnings report is highly anticipated. The Fed's decision to hold rates steady brought relief to the bond market. Home prices rose or stayed flat in major US metro areas for the first time in nearly two years. Homebuyers are turning to adjustable-rate mortgages as rates remain high. Paramount Global's stock jumped after Sony Pictures Entertainment and Apollo Global Management expressed interest in purchasing the media giant. The unemployment rate remains low despite low labor churn.

#StockMarket #FederalReserve #Apple #JobsReport #HomePrices #Carvana #SemiconductorStocks #Bitcoin #ParamountGlobal #UnemploymentRate

https://finance.yahoo.com/news/live/stock-market-today-stocks-climb-as-fed-rate-hike-fears-fade-with-apple-on-deck-133130849.html


Wall Street ends higher as Fed signals dovish bias; jobs report eyed
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U.S. stocks rallied on Thursday as investors weighed the Federal Reserve's more dovish-than-expected interest rate guidance on Wednesday against a plethora of mixed earnings and economic data. The tech-heavy Nasdaq led the way, advancing 1.5% with a healthy boost from chip stocks after Qualcomm reported quarterly sales and profit above analysts' expectations. Data released on Thursday included muted jobless claims, a drop in planned layoffs, a surge in quarterly labor costs, and a sharp deceleration in productivity, all of which throws focus on Friday's closely watched April employment report. The Dow Jones Industrial Average rose 322.37 points, or 0.85%, to 38,225.66. The S&P 500 gained 45.81 points, or 0.91%, at 5,064.2 and the Nasdaq Composite added 235.48 points, or 1.51%, at 15,840.96. Among individual stocks, Qualcomm advanced 9.8% following its earnings beat. Shares of used car platform Carvana surged 33.8% on its upbeat profit forecast. But disappointing profit guidance sent DoorDash's stock down 10.3%. Etsy shares slid 15.0% after the online marketplace missed Wall Street expectations for first-quarter gross merchandise sales and profit. Peloton dropped 2.5% after the fitness equipment maker's CEO stepped down and the company announced a 15% cut to its global workforce.

#WallStreet #FederalReserve #InterestRates #Earnings #EconomicData

https://finance.yahoo.com/news/futures-climb-fed-allays-rate-102402525.html


Stocks Mixed After Fed With Apple Results in Focus: Markets Wrap
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Stock futures traded mixed on Thursday and Treasury yields edged lower after Federal Reserve Chair Jerome Powell downplayed the prospect of further interest-rate hikes. The yen resumed losses after a sudden jump hinted at intervention. European equity contracts were little changed while US futures on the S&P 500 advanced. Bloomberg’s index of the dollar fell for a second day, reflecting the drop in US yields following the Fed’s decision. Traders are looking to other catalysts, such as euro-area manufacturing data and Apple Inc.’s quarterly results later on Thursday. In corporate news, Shell Plc announced a $3.5 billion share buyback and reported profit that beat estimates. ArcelorMittal SA, the world’s biggest steelmaker outside China, also posted earnings that exceeded projections. Apple’s figures due after the US market closes will give investors a better sense of how the iPhone maker is weathering a sales slump, due in part to a sluggish China market. The yen slid as much as 1.1% against the dollar, after having surged late Wednesday in New York. The renewed decline suggests investors are skeptical that Japanese authorities will be able to prevent the currency from weakening, given the country’s wide interest-rate differential with the US. In commodities, oil clawed back losses from Wednesday. Gold advanced.

#StockMarket #FederalReserve #AppleInc #InterestRates

https://finance.yahoo.com/news/asian-stocks-fall-yen-steadies-230908599.html


Credit Market Risk Eases as Powell Quells Future Rate-Hike Fears
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Credit traders took comfort in Federal Reserve Chair Jerome Powell's assurances that the central bank isn't planning to lift interest rates further, sending a gauge for fear of corporate defaults to lower levels. The Federal Open Market Committee unanimously decided to hold interest rates steady for the sixth consecutive meeting. The spread on the Markit CDX North American Investment-Grade Index tightened as much as 1.89 basis points to 51.932 basis points, before widening slightly. The average spread on blue-chip bonds was 87 basis points. The drop in risk premiums is being driven by relentless demand for corporate bonds from investors as issuance tapers after borrowers sold a record amount of new debt in the first quarter. For risk premiums to go sustainably higher there would need to be suggestions about rate hikes from the Fed. Interest rates staying higher for longer have actually helped keep demand for credit strong, and many investors believe that a delay in rate cuts amid still positive economic growth is a supportive enough backdrop for tighter credit spreads.

#CreditMarket #FederalReserve #InterestRates

https://finance.yahoo.com/news/credit-market-risk-eases-powell-200128468.html


New Russia sanctions target weapons development and countries assisting in sanctions evasion
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The U.S. has imposed sanctions on hundreds of firms and individuals tied to Russia's weapons development program, as well as Chinese firms accused of helping Russia evade sanctions and individuals tied to the death of Russian dissident Alexey Navalny. The sanctions target Russia's military-industrial base, chemical weapons programs, and entities in third countries that assist Russia in acquiring weapons components. The Senate has also approved legislation barring imports of Russian uranium, and President Joe Biden is expected to sign the bill into law. The sanctions aim to disrupt and degrade Russia's war efforts and supply networks. The announcement also includes sanctions on firms in China, Azerbaijan, Belgium, Slovakia, Turkey, and the United Arab Emirates for assisting Russia in acquiring technology and equipment. The penalties aim to block them from using the U.S. financial system and prohibit American citizens from dealing with them. The sanctions come after Biden signed a $95 billion war aid measure that includes assistance for Ukraine, Israel, Taiwan, and other global hot spots.

#Russia #Sanctions #WeaponsDevelopment #China #Ukraine #UnitedStates

https://finance.yahoo.com/news/russia-sanctions-target-weapons-development-173127134.html


Stock market today: S&P 500 slips with Fed's Powell in the spotlight
==========

US stocks were mixed as disappointing earnings dented AI hopes while investors awaited the Federal Reserve's policy decision and clues to the chances of rate cuts. The S&P 500 fell about 0.1%, while the Dow Jones Industrial Average rose about 0.2%. The Nasdaq Composite was little changed. After-hours results from AMD and server maker Super Micro Computer took the shine off hopes for an AI-fueled boost to the sector. Stocks are coming off their worst month this year after a rise in US labor costs. The Fed is expected to keep rates at a 23-year high, and investors are focused on Chair Jerome Powell's clues about when and whether easing might begin. Job openings ticked lower in March as hiring also decreased, reflecting a slight cooling in the US labor market. AMD shares fell more than 7% after reporting in-line revenue estimates, disappointing AI growth outlook, and falling short of Wall Street's expectations. Starbucks shares plunged 12% premarket after the company reported a disappointing quarter and outlook. The company's new products, such as the lavender latte, aren't resonating with consumers, and the company feels confused about how to bring back steady sales growth. The US manufacturing sector contracted in April, with the Institute for Supply Management's Manufacturing PMI reading at 49.2. Prices paid for manufacturers rose for the fourth straight month, with this sub-index expanding to a measure of 60.9. Job openings in March decreased, and the quits rate fell to its lowest level since August 2020.

#StockMarket #S&p500 #FederalReserve #Ai #LaborMarket #Amd #Starbucks #UsManufacturing

https://finance.yahoo.com/news/live/stock-market-today-sp-500-slips-with-feds-powell-in-the-spotlight-113149861.html


Wealth in America: 25 Cities Where the Rich Are Getting Richer
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The article discusses the wealth growth among rich Americans in 25 U.S. cities. The U.S. economy is currently robust with tempered inflation, increased consumer spending, and low unemployment percentages, which may be contributing to the wealth accumulation of the rich. The top city where the rich are getting richer is Los Altos, California, with a mean household income of $400,817 in 2022. California dominates the list with 11 cities, followed by Washington with 4 cities. The East Coast also has 9 cities on the list, with Massachusetts being the most popular state. Texas is the only Southern state represented. The article provides a detailed breakdown of the top 10 cities and their income growth percentages. The data was collected from the 2022 American Community Survey and is up to date as of April 29, 2024.

#Wealth #Income #Cities #RichAmericans #EconomicGrowth

https://finance.yahoo.com/news/wealth-america-25-cities-where-120028787.html


OSARO Achieves SOC 2 Type II Compliance, Prioritizing Customer Data Security
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OSARO, a robotics AI software company, has become the first in the e-commerce fulfillment sector to achieve Service Organization Control (SOC) 2 Type II compliance. The compliance was evaluated by an approved third-party AICPA auditing firm, which attested that OSARO achieved SOC 2 Type II compliance. The effort was coordinated by OSARO's VP of operations, Gemma Ross, in collaboration with Rhymetec, an independent provider of cybersecurity, compliance, and data-privacy solutions. This achievement demonstrates OSARO's commitment to protecting customer data and maintaining rigorous security policies and procedures. OSARO delivers robotic piece-picking solutions for e-commerce, offering smarter automation and low-risk adoption. Its intelligent robots enable goods-to-robot (G2R) use cases in automated warehouses. For more information, visit [OSARO's website](https://www.osaro.com/).

#Osaro #Soc2TypeIiCompliance #DataSecurity #Robotics #Ecommerce

https://finance.yahoo.com/news/osaro-achieves-soc-2-type-100000662.html


Returns on Capital Paint A Bright Future For Shaver Shop Group (ASX:SSG)
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Shaver Shop Group (ASX:SSG) has a return on capital employed (ROCE) of 23%, which is higher than the industry average of 18%. Over the past five years, the returns on capital employed have grown considerably, and the amount of capital employed has increased by 33%. This indicates that the company has profitable initiatives that it can continue to reinvest in, suggesting a bright future for Shaver Shop Group.

#ShaverShopGroup #Asx:ssg #ReturnOnCapitalEmployed #Roce #ProfitableInitiatives #Reinvestment

https://finance.yahoo.com/news/returns-capital-paint-bright-future-230507371.html


British motor premiums see modest rise in first quarter of 2024
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The cost of car insurance in the UK rose 1% in the first quarter of 2024, according to a survey by the Association of British Insurers' (ABI) Motor Insurance Tracker. The average claim paid rose 8% to reach a record of £4,800 ($6,004.80) in the first quarter compared to the same period last year. Motor premiums in Britain jumped 23% in 2023 compared to the previous year. Insurers have been absorbing growing costs and keeping prices relatively stable. The ABI tracker analyzes nearly 28 million policies sold a year and the claims paid against these policies.

#CarInsurance #Uk #Premiums #AssociationOfBritishInsurers #MotorMarket

https://finance.yahoo.com/news/british-motor-premiums-see-modest-230241772.html


25 Richest Billionaires in Real Estate Industry
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This article provides a list of the 25 richest billionaires in the real estate industry, ranked by their net worth as of April 27. The global real estate market was worth $379.7 trillion in 2022, with the residential sector accounting for the highest share. The market has faced a turndown in investments, but experts are hopeful for a rebound driven by clarity about monetary policies. Affordability of housing remains a key concern. Some major players in the market include Simon Property Group, Sun Hung Kai Properties, and Welltower Inc. The list includes billionaires like Wang Jianlin, Wu Yajun, Radovan Vitek, Edward Roski Jr, Robert Ng, Philip Ng, Fredrik Lundberg, Jeff Greene, Law Kar Po, Igor Olenicoff, Ivar Tollefsen, Leonard Stern, Francis Choi, Alexander Otto, David Reuben, Stephen Ross, Mangal Prabhat Lodha, Kwong Siu-hing, Manuel Villar, and Joseph Lau.

#RealEstate #Billionaires #NetWorth #MarketTrends #Investments

https://finance.yahoo.com/news/25-richest-billionaires-real-estate-201433198.html


Elon Musk visits China as Tesla seeks self-driving technology rollout
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Tesla CEO Elon Musk arrived in Beijing on an unannounced visit to discuss the rollout of Full Self-Driving (FSD) software and permission to transfer data overseas. Musk met with Premier Li Qiang, who praised Tesla's development in China as a successful example of U.S.-China economic and trade cooperation. Tesla has not yet made FSD available in China, its second-largest market, but Musk said it may be available soon. Musk is seeking approval to transfer data collected in China abroad to train algorithms for autonomous driving technologies. The surprise visit is seen as a major moment for Tesla by equity analysts at Wedbush. Rival Chinese automakers are rolling out similar software. Musk's visit came after he canceled a planned visit to India. Tesla has sold over 1.7 million cars in China and its Shanghai factory is its largest globally.

#ElonMusk #Tesla #SelfdrivingTechnology #China

https://finance.yahoo.com/news/exclusive-elon-musk-heading-china-050308985.html


Stock market today: Alphabet and Microsoft jump to push Wall Street higher
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Alphabet and Microsoft have pushed the U.S. stock market higher, with the S&P 500 rising 0.6% and the Nasdaq composite up 1.2%. Google's parent company jumped more than 10% after exceeding analysts' profit expectations. Stocks have been under pressure due to fading hopes for interest rate cuts. Global shares mostly rose despite concerns about the economic outlook and inflation. The Bank of Japan kept its benchmark interest rate unchanged. Japan's Nikkei 225 added 0.8%. Traders are betting on one or two interest rate cuts by the Fed this year. In energy trading, benchmark U.S. crude edged up to $83.85 a barrel.

#StockMarket #Alphabet #Microsoft #WallStreet #S&p500 #Nasdaq #Profit #InterestRates #GlobalShares #BankOfJapan #Nikkei225 #Fed #EnergyTrading

https://finance.yahoo.com/news/stock-market-today-asian-benchmarks-072155652.html


Exxon profit drops 28%, falls short of estimates
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Exxon Mobil Corp reported a 28% year-on-year drop in first quarter profits, missing analysts' estimates. The company posted first-quarter earnings of $8.22 billion, or $2.06 per share, compared to $11.43 billion net profit a year ago. Profit per share fell 6% shy of Wall Street analysts' consensus. Weaker refining margins and lower natural gas prices offset volume gains. The results were the second highest for a first quarter in the past decade. Results were boosted by lower costs and higher volumes from Exxon's Guyana operations. Exxon's capital spending last quarter was the lowest in seven quarters. Exxon's acquisition of Pioneer Natural Resources is expected to wrap up in coming weeks. Exxon is in a dispute with Chevron and Hess over assets in Guyana. Exxon has claimed preemption rights over Hess' Guyana assets. That claim is being considered by an international arbitration panel.

#ExxonMobil #Profit #FirstQuarter #Estimates #RefiningMargins #NaturalGasPrices #VolumeGains #GuyanaOperations #PioneerNaturalResources #Chevron #Hess #AssetsInGuyana #InternationalArbitrationPanel

https://finance.yahoo.com/news/exxon-misses-q1-profit-despite-103000851.html


BNP Paribas Plans to Cut 50 Roles Across Its UK Unit
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BNP Paribas is planning to cut 50 roles across its unit in the UK as part of its efforts to curb costs. The bank has started consultations with the employees and is working to offer them different roles within the organization. The cuts come as CEO Jean-Laurent Bonnafe seeks €400 million in cost savings. Lower expenses helped lift the bank's profit above analysts' expectations in Q1. The bank attributed the decline in trading to a strong performance a year earlier and its bias toward Europe, which was more impacted by lower volatility.

#BnpParibas #Costcutting #UkUnit

https://finance.yahoo.com/news/bnp-paribas-plans-cut-50-101647896.html


Pimco Says BOJ May Raise Rates Higher Than Markets Expect
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Pacific Investment Management Co. (Pimco) predicts that the Bank of Japan (BOJ) may raise interest rates three more times, even after last month's historic hike. Sachin Gupta, a portfolio manager at Pimco, believes that the recent rate hike is just the beginning of the adjustment of monetary policy in Japan. Gupta suggests that the BOJ may raise rates higher than the market expects, possibly up to 0.75%. He also sees Japan's tightening cycle possibly extending to 2025. The views of Pimco are supported by data showing that Japan's inflation rate has consistently met or exceeded the BOJ's 2% target for the past two years. Strong wage increases resulting from negotiations with unions are also adding to the pressure. The BOJ is expected to keep its interest rate settings unchanged in its upcoming policy decision. Pimco is underweight Japan bonds but is more bullish about other developed-market bonds, such as gilts, European government bonds, and notes from Canada, Australia, and New Zealand. The US is seen as having a more resilient economy, which makes other duration globally more attractive on a relative basis.

#BankOfJapan #InterestRates #Pimco #MonetaryPolicy #Inflation #JapanBonds #Gilts #EuropeanGovernmentBonds #Canada #Australia #NewZealand #UsEconomy

https://finance.yahoo.com/news/pimco-says-boj-may-raise-231007007.html


Chipotle CFO said diners will keep burritos in their budget, as US GDP growth slows
==========

Chipotle CFO Jack Hartung expects Americans to continue spending on Chipotle even as overall spending slows down. In the first quarter, US GDP growth expanded 1.6%, slower than expected. However, Chipotle's Q1 earnings report showed revenue growth of 14.1% to $2.7 billion, with same-store sales increasing by 7%. Limited-time offers like the carne asada bowl helped boost results. For 2024, Chipotle expects sales growth of mid- to high-single digits. Wall Street analysts believe Chipotle's value proposition and sales momentum will continue, with second-quarter same-store sales and traffic higher than the first quarter. Chipotle's Board of Directors has proposed a 50-for-one stock split, pending shareholder approval on June 6, to make the stock more accessible to retail investors.

#Chipotle #Cfo #UsGdpGrowth #ConsumerSpending #EarningsReport #LimitedtimeOffers #StockSplit #WallStreetAnalysts

https://finance.yahoo.com/news/chipotle-cfo-said-diners-will-keep-burritos-in-their-budget-as-us-gdp-growth-slows-194652484.html


Uncover Hong Kong’s Heritage This May with Cultural Festivals and All-New Pyro & Drone Shows
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Hong Kong is hosting a series of cultural festivals in May, including the Cheung Chau Bun Festival, Tin Hau Festival, Buddha's Birthday, and Tam Kung Festival. The Cheung Chau Bun Festival features a parade and bun scrambling competition, while the Tin Hau Festival celebrates the goddess of the sea with religious rituals and performances. Buddha's Birthday is marked by a bathing ceremony at the Po Lin Monastery and a celebration carnival at Victoria Park. The Tam Kung Festival pays homage to the deity of seafarers and fishermen with processions and opera performances. Additionally, there will be a pyrotechnic display and a drone show at Victoria Harbour to enhance the festivities. Travelers are encouraged to visit Hong Kong in May to experience the rich heritage and culture of the city.

#HongKong #CulturalFestivals #CheungChauBunFestival #TinHauFestival #Buddha'sBirthday #TamKungFestival #PyrotechnicDisplay #DroneShow

https://finance.yahoo.com/news/uncover-hong-kong-heritage-may-100200034.html


Tough times for Argentine factories as consumers penny-pinch
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Argentina's factories are struggling as consumers, hit by sky-high inflation and shrinking income, buy fewer goods. Annual inflation is approaching 290 percent and wage-earners are losing about a fifth of their purchasing power. In February, Argentina's economic activity slumped for a fourth straight month as President Javier Milei's budget-slashing plans took hold. The figure dropped by 3.2 percent year-on-year and by 0.2 percent from January. Eight sectors recorded an annual decline, including construction, manufacturing, wholesale, and retail. Small- and medium-sized businesses (SMEs) are struggling to pay salaries and rent, with manufacturing output among SME members dropping by nearly 12 percent year-on-year last month. Steel company Acindar has stopped production for a month at four plants due to a 40-percent drop in sales. The International Monetary Fund has forecasted a 2.8 percent contraction in Argentina's economy this year. Some 600 SMEs that exported manufactured goods have closed since last year. The government has slashed subsidies for transport, fuel, and energy, leading to thousands of public servants losing their jobs.

#Argentina #Factories #ConsumerSpending #Inflation #EconomicDecline

https://finance.yahoo.com/news/tough-times-argentine-factories-consumers-011010255.html


Government of Canada provides $25,000 to support delivery of EXCELerate2024: GroYourBiz with the Speed of Collaboration
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The Government of Canada has provided $25,000 in funding to the GroYourBiz Institute for Global Connections to support the delivery of EXCELerate2024: GroYourBiz with the Speed of Collaboration conference. The conference, dedicated to women entrepreneurs, will take place from April 24-26. The funding from the Pacific Economic Development Agency of Canada (PacifiCan) aims to empower women entrepreneurs and provide valuable opportunities for collaboration and learning. The conference includes speakers, roundtable discussions, networking opportunities, and a gala reception. PacifiCan's investment demonstrates the government's support for small businesses in British Columbia. Women make up 39% of business owners in British Columbia, the second-highest percentage among Canadian provinces.

#GovernmentOfCanada #Funding #WomenEntrepreneurs #Conference #Pacifican #BritishColumbia

https://finance.yahoo.com/news/government-canada-provides-25-000-183000061.html


Billionaire Diane Hendricks: How She Became America’s Richest Self-Made Woman
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Diane Hendricks is the richest self-made woman in America with a net worth of $20.9 billion. She is the chair of ABC Supply, a wholesale distributor of roofing, siding, and windows. Hendricks co-founded the company with her late husband in 1982. Under her leadership, ABC Supply made significant acquisitions, including rival Bradco in 2010 and building materials distributor L&W Supply in 2016. The company now has over 900 branch locations and generated $18.5 billion in annual revenue as of 2022. Before founding ABC Supply, Hendricks and her husband made their living through rental properties. They purchased and renovated 200 older homes, renting them out to college students. ABC Supply started with the purchase of two struggling building supply stores and focused on providing exceptional customer service. Within five years, the company had 50 stores and made about $140 million in sales. During the Great Recession, when the real estate market collapsed, Hendricks seized the opportunity to acquire rival Bradco at fire-sale prices. She took on a big risk by giving up 40% of her stake in ABC, but was able to buy it back within four years. Hendricks' success is attributed to her willingness to get her hands dirty, her focus on customer service, and her ability to find opportunities in downswings.

#DianeHendricks #AbcSupply #SelfmadeWoman #Wealth

https://finance.yahoo.com/news/billionaire-diane-hendricks-she-became-140008353.html


Germany makes slight upgrade to economic growth forecast
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The German government has slightly raised its growth forecast for this year, with growth of 0.3% now expected. In February, the government had downgraded its forecast to just 0.2%. Economy Minister Robert Habeck said there are signs of a slight economic upturn in the course of the year, while inflation is expected to decline. The increase in consumer prices should fall from 5.9% last year to 2.4% in the current year, bolstering household purchasing power and helping private consumption recover. The German government is forecasting GDP growth of 1% in 2025. Business associations have called for significant relief for companies, and Habeck has spoken out in favor of a growth package. The pro-business Free Democrat Party recently caused a stir with demands for relief for the economy and restrictions on the welfare state, which was met with criticism from Chancellor Olaf Scholz's center-left Social Democrats.

https://finance.yahoo.com/news/germany-makes-slight-upgrade-economic-135952088.html


Germany nudges up growth forecast, ailing economy at 'turning point'
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The German government slightly increased its 2024 growth forecast to 0.3 percent, up from a previous prediction of 0.2 percent. The economy ministry cited improvements in key indicators, such as factory output and business activity, as signs of a 'turning point' for the economy. The ministry also lowered its inflation forecast for this year to 2.4 percent and expects it to fall below two percent next year. Despite the positive outlook, officials warn that Germany's growth is still slower than other developed economies and faces deep-rooted problems such as an ageing population and labour shortages.

#Germany #Economy #GrowthForecast #EconomicIndicators #Inflation

https://finance.yahoo.com/news/german-forecast-offer-signs-ailing-032539107.html


US closes $362 million loan to CelLink for vehicle wiring plant
==========

The United States has closed a $362 million loan to CelLink Corp to help finance the construction of a plant in Texas to make components for electric vehicle assembly. The financing is for the development of lighter, more efficient flexible circuit wiring harnesses for automotive and other industries. Once operational, the plant is expected to produce enough wiring harnesses to support the manufacture of about 2.7 million EVs per year and more than 1,200 jobs. The Texas facility will eventually hold up to 25 manufacturing lines that will be brought online in stages over the next several years depending on demand.

#Us #Cellink #Loan #VehicleWiringPlant #ElectricVehicle #AutomotiveIndustry #Manufacturing

https://finance.yahoo.com/news/us-closes-362-million-loan-130712655.html


US Orders for Business Equipment Tick Up After Downward Revision
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Orders placed with US factories for business equipment rose modestly in March, with the value of core capital goods orders increasing 0.2% after a downwardly revised 0.4% advance in February. Bookings for all durable goods rose 2.6%, and excluding transportation equipment, orders climbed 0.2%. The gain in overall durables orders included increases in motor vehicles and computers and electronic products. New orders for capital goods were much stronger on the back of firmer commercial aircraft and defense-related bookings. The second-straight increase in core capital goods orders points to some stabilization in equipment investment. Core capital goods shipments rose 0.2% after falling in February. Recent purchasing managers surveys have sent mixed signals for US manufacturing, with the Institute for Supply Management's manufacturing gauge showing factory activity expanded in March for the first time since September 2022, while the S&P Global flash April PMI contracted for the first time in four months.

#UsFactoryOrders #BusinessEquipment #CapitalGoods #DurableGoods #Manufacturing #Investment

https://finance.yahoo.com/news/us-orders-business-equipment-tick-130101483.html


Germany makes slight upgrade to economic growth forecast
==========

The German government has slightly raised its growth forecast for this year, with growth of 0.3% now expected. In February, the government had downgraded its forecast to just 0.2%. Economy Minister Robert Habeck said there are signs of a slight economic upturn in the course of the year, while inflation is expected to decline. The forecast also predicts that consumer prices will fall from 5.9% last year to 2.4% this year, boosting household purchasing power and aiding in the recovery of private consumption. The German government is forecasting GDP growth of 1% in 2025.

#Germany #EconomicGrowth #Forecast #Inflation #ConsumerPrices #Gdp

https://finance.yahoo.com/news/germany-makes-slight-upgrade-economic-130038831.html


Ukrainian-American Organization Demands Immediate FCC Investigation into SpaceX; Citing Musk’s Meddling in Ukraine, Erratic Behavior, and Illegal Drug Use
==========

The Ukrainian Congress Committee of America (UCCA) has demanded an immediate investigation into SpaceX by the Federal Communications Commission (FCC), citing Elon Musk's meddling in Ukraine, erratic behavior, and illegal drug use. The UCCA called on the FCC to determine if restrictions should be placed on Musk's control of Starlink or if the company's license should be revoked. The organization accuses Musk of using Starlink to support the military of a foreign power engaged in an illegal war and committing war crimes. The filing also alleges that Musk has engaged in illegal drug use, including LSD, cocaine, ecstasy, ketamine, and psychedelic mushrooms. The UCCA's filing seeks to hold SpaceX accountable and calls for a halt to all Starlink applications and for Musk to step down from any management or decision-making authority concerning the Starlink system.

#UkrainianCongressCommitteeOfAmerica #Fcc #Spacex #ElonMusk #Starlink #Ukraine #IllegalDrugUse #WarCrimes

https://finance.yahoo.com/news/ukrainian-american-organization-demands-immediate-123000792.html


A new law could ban TikTok in 2025. Here's what happens next.
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The Senate voted 79-18 to advance a bill that gives China's ByteDance up to one year to divest TikTok or face a US ban. President Joe Biden is expected to sign the bill. The bill gives the company 270 days to sell, with the possibility of an extension up to a year. The law is part of the ongoing US-China trade war and is seen as a response to national security concerns. TikTok denies the charges and says it would never share US data. ByteDance is 60% owned by institutional investors who may want to keep the app in the American market. The law could face legal challenges, including on first amendment grounds and for unfairly targeting a single company.

#Tiktok #Bytedance #UschinaTradeWar #NationalSecurity #Divestment #Ban #Legislation #PresidentJoeBiden

https://finance.yahoo.com/news/a-new-law-could-ban-tiktok-in-2025-heres-what-happens-next-111917426.html


German retirees will get an inflation-busting pension increase this year
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Germany's Cabinet has approved a 4.57% rise in retirees' pensions from this summer, well above the current rate of inflation. The increase will take effect on July 1, the first time since 2000 that pensions in Europe's biggest economy have risen by more than the annual inflation rate, which in March stood at 2.2%. An increase last year of 4.39% in the former West Germany and 5.86% in the formerly communist east completed efforts to bring pension levels in the two parts of the once-divided country level more than 20 years after reunification. Germany has a population of 84 million, including more than 21 million retirees.

#GermanPensions #Retirees #Inflation #Germany

https://finance.yahoo.com/news/german-retirees-inflation-busting-pension-103604272.html


Oil prices steady after rallying on US stock decline, business data
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Oil prices steadied above $88 a barrel on Wednesday after rallying in the previous session on a surprise fall in U.S. crude stocks and a drop in business activity in the world's largest oil consumer. Brent crude futures fell 24 cents, or 0.27%, to $88.18 a barrel by 1024 GMT. U.S. West Texas Intermediate crude futures lost 33 cents, or 0.4%, to $83.03 a barrel. Perceived de-escalation between Iran and Israel could remove another $5-10 a barrel of "the still elevated geopolitical risk premium" in coming months, Goldman Sachs analysts said in a note, putting a $90 a barrel ceiling on Brent. U.S. business activity cooled in April to a four-month low, with S&P Global saying on Tuesday that its flash Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 50.9 this month from 52.1 in March. U.S. crude inventories fell by 3.237 million barrels in the week ended April 19, according to market sources citing American Petroleum Institute figures. Meanwhile, the Israel-Hamas conflict continues to rage with some of the heaviest shelling in weeks on Tuesday, while sources on Wednesday said Israel is preparing to evacuate Rafah ahead of a promised assault on the city.

#OilPrices #UsStockDecline #BusinessData

https://finance.yahoo.com/news/oil-prices-inch-data-shows-011927506.html


SES AI, Hyundai Motor and Kia Agree to Enter the Next Phase of Their Joint Development Contract
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SES AI Corporation, Hyundai Motor, and Kia Corporation have signed an agreement to enter the next phase of their joint development agreement (JDA) to start developing B samples. Hyundai Motor and Kia will build a dedicated B-sample cell development, assembly, and testing facility in Ui-Wang, South Korea, and SES AI will build and operate one of the largest capacity Li-Metal lines in the world within this new facility. This collaboration is the first of its kind in the Li-Metal battery industry and represents an important milestone in achieving commercial production. SES AI is the first Li-Metal battery company in the world to have two B-sample development JDAs underway. SES AI, Hyundai Motor, and Kia teamed up in 2021 to collaborate on a range of technologies, including Li-Metal batteries for UAM as well as EV applications.

#SesAi #HyundaiMotor #KiaCorporation #LimetalBatteries #JointDevelopmentAgreement #BSamples #Uiwang #SouthKorea #CommercialProduction #ElectricVehicles #UrbanAirMobility

https://finance.yahoo.com/news/ses-ai-hyundai-motor-kia-100000956.html


Lenovo Advances Hybrid AI Innovation to Meet the Demands of the Most Compute Intensive Workloads
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Lenovo Group announced a new suite of purpose-built AI-centric infrastructure systems and solutions to advance Hybrid AI innovation from edge to cloud. Lenovo is delivering GPU-rich and thermal efficient solutions for compute intensive workloads. Lenovo TruScale provides flexibility, scale, and support for customers to on-ramp demanding AI workloads completely as-a-service. Lenovo is collaborating with AMD to deliver the ThinkSystem SR685a V3 8GPU server for compute-demanding AI workloads. Lenovo also introduced the ThinkAgile MX455 V3 Edge Premier Solution with AMD EPYC processors for AI inferencing and real-time data analysis at the edge. Lenovo and AMD unveiled the ThinkSystem SD535 V3 server node for intensive transaction processing. Lenovo has introduced Lenovo AI Advisory and Professional Services to help businesses navigate the AI landscape and deploy AI solutions. Lenovo is a global technology company with a focus on delivering smarter technology for all.

#Lenovo #Ai #Gpu #Amd #Thinksystem #AiInfrastructure #AiSolutions #AiAdoption

https://finance.yahoo.com/news/lenovo-advances-hybrid-ai-innovation-100000195.html


USPS commits to rerouting Reno-area mail despite bipartisan pushback and mail ballot concerns
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The USPS announced on Tuesday it will follow through with its plan to reroute Reno-area mail processing to Sacramento. Postmaster General Louis DeJoy has cast the permanent measure as a cost-saving move, but federal, state, and local lawmakers have complained about a lack of transparency in the process that could slow mail throughout the region. Democratic Secretary of State Cisco Aguilar previously said moving operations could slow the processing of mail ballots and potentially disenfranchise thousands of Nevada voters. The USPS stated that the business case supported moving the processes to California, as most of the mail processed in Reno is destined elsewhere. The Reno facility will stay open as an area that prepares mail before it's sent out. USPS will invest $13.4 million in the facility for renovations. There is no set date for implementation of the rerouting plan. Lawmakers have expressed concerns about traffic delays and harsh weather conditions in the Sierra Nevada region between Reno and Sacramento. Northern Nevada's congressional delegation, including Democratic U.S. Sen. Jacky Rosen, Democratic U.S. Sen. Catherine Cortez Masto, and Republican U.S. Rep. Mark Amodei, have opposed the move. Republican Gov. Joe Lombardo and the Washoe County Commission have also expressed opposition. Rosen and Lombardo have vowed to continue fighting against the decision.

#Usps #MailRerouting #Reno #Sacramento #Nevada #MailBallots #LouisDejoy #CiscoAguilar #Costsaving #Transparency #TrafficDelays #SierraNevada #CongressionalDelegation #JackyRosen #CatherineCortezMasto #MarkAmodei #JoeLombardo #WashoeCountyCommission

https://finance.yahoo.com/news/usps-commits-rerouting-reno-area-020018370.html


Senate passes bill forcing TikTok's parent company to sell or face ban, sends to Biden for signature
==========

The Senate has passed legislation that would require TikTok's parent company, ByteDance, to sell the social media platform or face a ban. The bill, included as part of a larger $95 billion package, gives ByteDance nine months to sell TikTok, with a possible three-month extension if a sale is in progress. The legislation also prohibits ByteDance from controlling TikTok's algorithm. The bill now goes to President Joe Biden, who has expressed support for the TikTok proposal. The passage of the legislation reflects concerns over Chinese threats and the ownership of TikTok, which is used by 170 million Americans. Critics argue that a comprehensive federal data privacy law would be a better way to protect U.S. consumers.

#Tiktok #Bytedance #Senate #JoeBiden #China #DataPrivacy

https://finance.yahoo.com/news/senate-passes-bill-forcing-tiktoks-014240267.html


Stock market today: S&P 500, Nasdaq notch big gains as Tesla kicks off 'Magnificent 7' earnings
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US stocks secured gains across the board on Tuesday, with the tech-heavy Nasdaq Composite surging about 1.6% and the benchmark S&P 500 rising about 1.2% after staging a comeback from a six-day run of losses on Monday. Tesla rose as much as 8% in after-hours trading after the company suggested its future vehicle lineup would include more affordable models. The update comes as the electric vehicle giant missed earnings expectations on both the top and bottom lines. Tesla's earnings will likely be a catalyst for the S&P 500, given the stock's weight in the index. Shares have been hit hard after a disappointing delivery outlook, the cancellation of plans for a long-awaited sub-$30,000 model, and a strategy switch to robotaxis, among other headwinds. Tesla's earnings set the stage for highly anticipated results from Meta and Alphabet later in the week. Meanwhile, Donald Trump is set to nab a $1.1 billion 'earnout' bonus from DJT stock if current trading levels hold until the end of the close. The US economy showed signs of a 'wobble' in April, with the flash US composite PMI coming in at its lowest reading in four months. Homebuilder PulteGroup reported Q1 results that beat Wall Street estimates, citing a chronic housing shortage in the US as an opportunity for growth. US stocks opened higher on Tuesday ahead of a slew of key earnings reports. IPO research shows that about 89% of investors expect to see resumed activity in the US IPO market from April to December 2024. GM's stock is up almost 5% after the company's big earnings beat and full-year guidance lift. PepsiCo maintained its sales and profit outlook for 2024, but the stock bid down on quarterly volume declines at the Frito Lay North America and North America Beverage business.

#StockMarket #Tesla #Earnings #S&p500 #Nasdaq #Meta #Alphabet #DonaldTrump #DjtStock #UsEconomy #Pultegroup #Ipo #Gm #Pepsico

https://finance.yahoo.com/news/live/stock-market-today-sp-500-nasdaq-notch-big-gains-as-tesla-kicks-off-magnificent-7-earnings-200142781.html


UnitedHealth says hackers possibly stole large number of Americans' data
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UnitedHealth Group announced that hackers stole health and personal data of potentially a "substantial proportion" of Americans from its systems in February. The intrusion at its Change Healthcare unit, which processes about 50% of U.S. medical claims, caused widespread disruption in payment to doctors and health facilities. The stolen data includes files with protected health information or personally identifiable information, which could cover a substantial proportion of people in America. The theft occurred despite a ransom payment. The cybercriminal gang behind the breach, known as AlphV or BlackCat, has not responded to multiple requests for comment. Another hacker group, Ransomhub, claimed to have received the data from a disgruntled affiliate of BlackCat.

#Unitedhealth #Hackers #DataBreach #ChangeHealthcare #RansomPayment #Cybersecurity

https://finance.yahoo.com/news/unitedhealth-says-hack-could-impact-215612097.html


Bond Demand Evaporates in Taiwan as Inflation Risks Mount
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Taiwan's government bonds are falling out of favor as traders fear stubborn inflation may pressure policymakers to hike interest rates. The yield on Taiwan's benchmark 10-year notes has risen 46 basis points this year, with a spike in March as the central bank unexpectedly raised borrowing costs. The bid-to-cover ratio for last week's 10-year bond auction was at 1.17, the lowest since Bloomberg started tracking the data in 2000. Taiwan's bonds face particular pressure under a resilient economy, with a blowout exports figure and higher electricity rates as key inflation risks. The global rush for AI technology has been a boon for Taiwan, with last month's exports surging nearly 19%. The economy is expected to expand 3.2% this year. Concerns are that inflation may rise with the electricity price increase and strong consumer demand. Taiwanese bonds are at an unfavorable position compared to most Asian central bank peers, which are still expected to lower rates later this year.

#Taiwan #GovernmentBonds #Inflation #InterestRates #Economy

https://finance.yahoo.com/news/bond-demand-evaporates-taiwan-inflation-093237347.html


U.S. stocks end higher with Big Tech earnings in view
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U.S. stocks bounced back on Monday after multiple sessions of selloffs as investors eyed key corporate results this week that should provide more insight on the health of the economy. The Dow gained nearly seven-tenths of a percent, the S&P 500 nearly nine-tenths and the Nasdaq climbed more than one percent. Prior to Monday’s rebound, geopolitical tensions and investors’ rate-cut re-evaluations in light of hotter-than-expected inflation and jobs data contributed to a six-session decline by the S&P and Nasdaq. Markets are now gearing up for quarterly results from some of the so-called Magnificent Seven Big Tech companies this week, including Tesla, Meta Platforms, Alphabet and Microsoft. Shares of Alphabet, Amazon and Apple gained between one-half to one-and-a-half percent on Monday. Nvidia jumped more than 4% to rebound from a 10% drop in the previous session. But Tesla shares dropped nearly 3.5% as the electric vehicle maker cut prices in a number of its major markets, including China and Germany, following price reductions in the United States. Investors this week will also be closely watching Friday’s key personal consumption expenditures or PCE report - the Federal Reserve’s preferred inflation gauge - for clues about the central bank’s monetary policy path.

#UsStocks #BigTech #Earnings #Dow #S&p500 #Nasdaq #Tesla #MetaPlatforms #Alphabet #Microsoft #Inflation #JobsData #Investors #Market #FederalReserve

https://finance.yahoo.com/video/u-stocks-end-higher-big-215900673.html


Stock market today: S&P 500 snaps 6-day losing streak ahead of Big Tech earnings rush
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The S&P 500 rose 0.9% to break a six-day losing streak and climb back above the 5,000 level. The Dow Jones Industrial Average also gained 0.7%. The Nasdaq Composite rebounded 1.1%, led by shares of Nvidia, which rebounded more than 4% after sinking 10% on Friday. Tesla shares fell more than 3% as investors reacted to the EV maker's price cuts on vehicles in China. Bitcoin climbed more than 2% over the past 24 hours following the cryptocurrency's recent halving. UBS downgraded six of the 'Magnificent 7' stocks, including Apple and Nvidia, from Overweight to Neutral. President Biden's recent call for a tripling of tariffs on Chinese steel was just the latest example of how voters will have a choice this fall that is one of degree as opposed to changes in direction when it comes to China trade. Stocks opened higher on Monday, following their worst week of the year, as investors await a flood of earnings.

#StockMarket #S&p500 #BigTech #Earnings #Tesla #Bitcoin #Ubs #ChinaTrade

https://finance.yahoo.com/news/live/stock-market-today-sp-500-snaps-6-day-losing-streak-ahead-of-big-tech-earnings-rush-200132702.html


Vanguard favors inflation protection amid rising price pressure risks
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Vanguard executive Roger Hallam recommends increasing inflation protection in investment portfolios due to recent U.S. data and global risks of a rebound in price pressures. Middle East tensions could lift transportation costs and oil prices, making the strategy attractive for international investors. Vanguard's base scenario is for a 'deferred landing' for the U.S. economy, with continued economic growth and higher inflation but not high enough for the Federal Reserve to hike interest rates again. However, there are 'tail risks' such as a rebound in inflation or weakening economic growth. Vanguard expects inflation and economic growth to continue driving Treasury yields in the next few months, but concerns over the U.S. government deficit and debt burden could gain prominence ahead of the U.S. presidential election in November.

#Vanguard #InflationProtection #InvestmentPortfolios #UsData #PricePressures #MiddleEastTensions #OilPrices #TreasuryInflationprotectedSecurities #UsBondYields #FederalReserve #InterestRateCuts #CorporateBonds #UsTreasuries #Credit #EconomicGrowth #TreasuryYields #UsGovernmentDeficit #DebtBurden #UsPresidentialElection

https://finance.yahoo.com/news/vanguard-recommends-increasing-inflation-protection-191429553.html


Stocks rebound, AI in Big Tech, Tesla: Trading Takeaways
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Stock market indices are seeing a solid day of green after a tumultuous start to the second quarter. The S&P 500 has snapped its six-day losing streak shared with the Nasdaq Composite. Yahoo Finance Markets Reporter details the biggest trends moving stocks ahead of earnings for Big Tech companies, including whether AI will be giving tech companies another big push this earnings season and everything on Tesla's plate as the EV maker is set to report quarterly results on Tuesday, April 23.

#StockMarket #BigTech #Tesla #Ai #Earnings

https://finance.yahoo.com/video/stocks-rebound-ai-big-tech-204052948.html


Wall St stocks end higher with major corporate earnings in view
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Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the U.S. economy's health. All 11 S&P 500 sectors closed higher, with technology and financial stocks leading gains. Markets were gearing up for quarterly results from megacap companies this week, including some of the so-called Magnificent Seven stocks such as Tesla, Meta Platforms, Alphabet, and Microsoft. Money markets are pricing in only about 41 basis points (bps) of rate cuts this year, down from about 150 bps seen at the beginning of the year, according to LSEG data. According to preliminary data, the S&P 500 gained 44.25 points, or 0.89%, to end at 5,011.48 points, while the Nasdaq Composite gained 169.30 points, or 1.11%, to 15,451.31. The Dow Jones Industrial Average rose 261.11 points, or 0.69%, to 38,247.51. Tesla shares dropped as the electric vehicle maker cut prices in a number of its major markets, including China and Germany, following price reductions in the United States. Cardinal Health fell sharply after the drug distributor said its contracts with UnitedHealth Group's OptumRx, one of its largest customers, will not be renewed when they expire at the end of June.

#WallStreet #Stocks #CorporateEarnings #S&p500 #Nasdaq #InterestRateCuts #Inflation #FederalReserve #TechnologyStocks #FinancialStocks #MegacapCompanies #Tesla #MetaPlatforms #Alphabet #Microsoft #RateCuts #MoneyMarkets #PceData #DowJonesIndustrialAverage #ElectricVehicle #China #Germany #UnitedStates #CardinalHealth #UnitedhealthGroup #Optumrx

https://finance.yahoo.com/news/futures-recover-friday-sell-off-101650561.html


US business equipment borrowings fell 7% in March, ELFA says
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U.S. companies borrowed 7% less to finance equipment investments in March compared to a year ago, according to the Equipment Leasing and Finance Association (ELFA). In March, companies signed up for new loans, leases, and lines of credit worth $9.3 billion, which is an 18% increase compared to the previous month. ELFA President and CEO Leigh Lytle expects equipment and software investment to pick up in the latter part of the year when the Federal Reserve is expected to begin its rate cuts. ELFA's leasing and finance index, based on a 25-member survey, showed that credit approvals for U.S. companies in January came in at 77%, up from 76% the previous month. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, reported that its confidence index for April stood at 52.9, indicating a positive business outlook.

#UsBusinessEquipment #Elfa #EquipmentLeasing #Finance #Investment

https://finance.yahoo.com/news/us-business-equipment-borrowings-fell-190336658.html


US News & World Report Publishes Op-Ed from Arbor Day Foundation CEO
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The article highlights the need for multi-faceted climate solutions like trees and forests. Dan Lambe, CEO of the Arbor Day Foundation, authored an op-ed published by U.S. News & World Report discussing the importance of trees and forests in addressing climate change. Lambe argues that while technological climate solutions like direct air capture are important, trees and forests offer a more versatile and cost-effective approach by capturing carbon, restoring ecosystems, preserving biodiversity, and fostering human well-being.

#ClimateChange #Trees #Forests #CarbonCapture #Ecosystems #Biodiversity #HumanWellbeing

https://finance.yahoo.com/news/us-news-world-report-publishes-185400950.html


Short sellers pocket record weekly profit from Big Tech selloff
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Traders who bet against the "Magnificent 7" group of big U.S. tech stocks booked their biggest-ever weekly profit of more than $10 billion last week, with the biggest gains coming from their short position in shares of Nvidia and Tesla. The chip designer shed almost 14% last week to clock its worst weekly fall in over 19 months, helping short sellers rake in more than $3 billion in profit. Tesla, whose shares have lagged peers in the coveted group this year, also tumbled by an equal margin, leading to $3 billion in profits for short sellers. Bets against Microsoft and Apple yielded $1 billion in profit each last week. The tech-heavy Nasdaq and the benchmark S&P 500 suffered six straight sessions of declines last week, their longest losing streak since October 2022, as the evidence of U.S. economic resilience and still-high inflation diminished hopes of an interest rate cut anytime soon. Overall, the "Magnificent 7" shed close to $1 trillion in market capitalization last week. Tesla, Meta Platforms, Alphabet, and Microsoft will be in focus this week as the companies gear up to deliver their quarterly numbers.

#ShortSelling #BigTech #Magnificent7 #Nvidia #Tesla #Microsoft #Apple #Nasdaq #S&p500 #MarketCapitalization #QuarterlyNumbers

https://finance.yahoo.com/news/short-sellers-pocket-record-weekly-144257339.html


Gold Retreats as Middle East Tensions Ease Following Strikes
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Gold fell more than 2% to trade near $2,345 an ounce after a five-week rally, the longest such streak in more than a year. Israel and Iran have traded attacks, raising concerns about an all-out war in the region, but Tehran has downplayed the impact and significance of Israel's recent strike. The fact that Iran downplayed Israel's response and signaled no retaliation has taken some risk premium out of the market. Traders are also focusing on US economic data, with the personal consumption expenditures price index projected to show the annual rate rose to 2.6% last month. Gold remains almost 15% higher so far this year, supported by central bank buying and demand from Asia. Spot gold slipped 2.0% to $2,343.48 an ounce, while silver sank about 4.3% after a four-week surge. Palladium and platinum also traded lower.

#Gold #MiddleEast #Tensions #Strikes

https://finance.yahoo.com/news/gold-backtracks-middle-east-tensions-020343999.html


Analysis-US bond bulls lean into latest selloff despite inflation scare
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A sharp selloff in U.S. bonds prompts some investors to consider allocating more funds to lock in higher yields ahead of interest rate cuts by the Federal Reserve. Treasury yields have soared in recent weeks after solid economic data and rebounding price pressures pushed out expectations of when the Fed would start cutting rates. However, many investors see lower bond prices as an opportunity to increase duration and buy bonds that benefit most from an interest rate move. Some investors are optimistic about the duration trade and believe rates will not go up much more. Others are less optimistic on inflation falling and expect lower yields in the next 12 months. Traders of futures tied to the Fed's policy rates expect less than two interest rate cuts in 2024. The peak in yields last year preceded a rally in bonds, but this time around, confidence that price pressures are easing is lower.

#UsBonds #InterestRates #FederalReserve #Inflation #Investors

https://finance.yahoo.com/news/analysis-us-bond-bulls-lean-100233633.html


Analysis-'Overdue' pullback in US stocks to test dip-buyers' resolve
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The S&P 500 is down more than 5% from its March 28 closing high, its biggest retreat since October. The factors that drove the S&P 500 to a 10% gain in the first quarter remain in place and will support stocks over the long term. Sellers have had the upper hand for the last week, with the S&P 500 falling for its sixth straight session on Friday. Some investors are buying on weakness, while others are waiting for more clarity on inflation, geopolitical tensions, and corporate earnings. A pullback is 'long overdue' and could fall by as much as 10% from its March 28 high. Strong starts to a year are often followed by sizable retreats, after which the stock market typically rights itself and continues higher. Clients of BofA sold $800 million in U.S. equities in the latest week, the third straight week they were net sellers. Some volatility-sensitive funds that bought equities as markets marched higher have already started selling and could dump more stocks if markets grow more turbulent. Investors are also watching the level of the Cboe Volatility Index. The coming week’s earnings from some of the market’s biggest names could offer support to stocks or further exacerbate the selloff. Investors will also focus on Friday's release of the monthly Personal Consumption Expenditures Price index, a crucial piece of inflation data before the Fed's April 30-May 1 meeting. Stronger-than-expected inflation has eroded a key driver of the bull market. Tim Ghriskey, senior portfolio strategist for Ingalls & Snyder in New York, said he has been 'doing some buying on the dip in very aggressive portfolios' but remains concerned about incoming inflation data.

#UsStocks #StockMarket #Pullback #Dipbuyers #S&p500 #Inflation #GeopoliticalTensions #CorporateEarnings

https://finance.yahoo.com/news/analysis-overdue-pullback-us-stocks-050451896.html


Oil prices retreat as US crude build, rate cut concerns come to the fore
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Oil prices fell at Asia's open on Monday, dragged down by a renewed focus on market fundamentals. Brent futures fell 54 cents, or 0.6%, to $86.75 a barrel. The front month U.S. West Texas Intermediate (WTI) crude contract for May fell 12 cents to $83.02 a barrel. U.S. crude inventories rose by 2.7 million barrels, nearly double analysts' expectations of a 1.4 million barrel rise. On Saturday, the U.S. House of Representatives passed an aid package for Ukraine and Israel containing measures that would let the federal government expand sanctions against Iran and its oil production. Iran is the third largest producer in OPEC. ANZ analysts said in a note that volatility in the Middle East will keep oil markets "jittery".

#OilPrices #UsCrude #BrentFutures #WtiCrude #CrudeInventories #Iran #Opec #Sanctions

https://finance.yahoo.com/news/oil-prices-retreat-us-crude-005038387.html


Jaspreet Singh: Why Americans Will Run Out of Money
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Financial expert Jaspreet Singh explains why Americans are running out of money due to high inflation, leading to increased spending on rent, groceries, and travel. This depletion of savings forces individuals and families to dig into other sources, leading to long-term instability. Singh recommends saving for emergencies, investing during market downsides, and finding other ways to fund your lifestyle without debt. The impact of Americans going broke and accumulating debt goes beyond the individual, as it can also take a toll on the economy, leading to less consumer spending and potential downsizing of businesses.

#Inflation #Savings #Debt #Economy

https://finance.yahoo.com/news/jaspreet-singh-why-americans-run-000010691.html


US commerce secretary downplays chip in advanced Huawei phone
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US Commerce Secretary Gina Raimondo downplayed the chip in the advanced Huawei Mate 60 Pro phone, stating that it is not as advanced as American chips. Raimondo argued that this demonstrates the effectiveness of US curbs on shipments to Huawei. The Huawei Mate 60 Pro, powered by a sophisticated chip, was released in August 2023 and was seen as a symbol of China's technological resurgence. However, Raimondo stated that the chip is years behind what the US has, asserting that the US has the most sophisticated semiconductors in the world. The US has been trying to deprive Beijing of advanced semiconductor chips and tools over concerns of strengthening China's military capabilities. Huawei was added to the entity list in 2019, and its US suppliers have received licenses worth billions of dollars to continue selling to the company. The Biden administration is conducting a review of the chip that powers the Huawei phone, but details of the review are limited.

#UsCommerceSecretary #Huawei #SemiconductorChips #UschinaTechWar

https://finance.yahoo.com/news/us-commerce-secretary-downplays-chip-230249164.html


16 Best Places To Retire in the US That Feel Like Europe
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Many Americans dream of retiring in Europe, though not everyone can pull it off. For those who can’t, one solution is to find a place that has a European vibe without actually being in Europe. Here are 16 of the best places to retire in the U.S. that feel like Europe based on insights by The Parking Spot: Charleston, South Carolina; Helen, Georgia; Hermann, Missouri; Holland, Michigan; Leavenworth, Washington; Montpelier, Vermont; New Orleans, Louisiana; Newport, Rhode Island; New Ulm, Minnesota; Pella, Iowa; Philadelphia, Pennsylvania; Portland, Oregon; Santa Barbara, California; Solvang, California; St. Augustine, Florida; Tarpon Springs, Florida.

#Retirement #Europe #Us #Travel

https://finance.yahoo.com/news/16-best-places-retire-us-184450432.html


Tesla cuts price of Full Self-Driving software by a third to $8,000
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Tesla has reduced the price of its Full Self-Driving (FSD) software from $12,000 to $8,000 in the United States. CEO Elon Musk believes that self-driving technology will be a significant source of revenue for the company. However, Tesla has faced challenges in achieving full self-driving capability, with increasing regulatory and legal scrutiny. Musk recently announced that Tesla will unveil its robotaxis on August 8. The company has also lowered the monthly subscription price for FSD from $199 to $99. Tesla's driver assistant features, known as Autopilot or FSD, require active driver supervision and are not fully autonomous. In addition to reducing the price of FSD, Tesla has also been cutting prices on its auto lineup in major markets, including China.

#Tesla #FullSelfdriving #Fsd #ElonMusk #SelfdrivingTechnology

https://finance.yahoo.com/news/tesla-cuts-price-full-self-040341205.html


US luxury properties still a hot investment for the wealthy
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While home buying for most of the US has decreased in the month of March, there still seems to be an interest among wealthier Americans for luxury home purchases. Knight Frank Global Head of Research Liam Bailey explains that despite rising interest rates, luxury markets have seen prices for residential property rise over the past six to nine months due to limited inventory. The report also reveals that 22% of wealthy individuals plan to invest in residential property this year, and 19% in commercial property. The luxury real estate market has become more globalized, with US buyers impacting demand and pricing in markets such as London, Lisbon, Spain, and Italy. The office market has split into two, with a high demand for best-in-class offices and a lack of quality stock available. The weaker sector of the office market is struggling. Wealth creation is back, with more wealthy individuals globally due to the performance of equity markets and cryptocurrencies.

#LuxuryProperties #Wealthy #HomeBuying #ResidentialProperty #CommercialProperty #InterestRates #Inventory #GlobalizedMarket #OfficeMarket #WealthCreation

https://finance.yahoo.com/video/us-luxury-properties-still-hot-130043047.html


At US$63.40, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?
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Fortinet, Inc. (NASDAQ:FTNT) has seen significant share price movement on the NASDAQGS, rising to highs of US$73.07 and falling to lows of US$60.62. The current trading price of US$63.40 may be undervalued, providing an opportunity to buy. Fortinet's intrinsic value is $102.89, indicating potential for future growth. Shareholders may consider accumulating more holdings in the stock, while potential investors may find it a good time to enter. However, it's important to consider other factors such as financial health and risks before making investment decisions.

#Fortinet,Inc #Nasdaq:ftnt #StockValuation #InvestmentOpportunities

https://finance.yahoo.com/news/us-63-40-time-put-110015381.html


Energean Full Year 2023 Earnings: Misses Expectations
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Energean's full year 2023 earnings missed expectations. The company reported revenue of US$1.42 billion, up 93% from FY 2022. Net income was US$184.9 million, up by US$167.7 million from FY 2022. The profit margin increased to 13% from 2.3% in FY 2022. EPS was US$1.04, up from US$0.097 in FY 2022. Oil equivalent production was 44.731 MMboe. Revenue missed analyst estimates by 3.7% and EPS missed estimates by 34%. The primary driver of revenue was the Israel segment, contributing 66% of total revenue. Cost of sales amounted to 54% of total revenue. Non-operating costs were the most substantial expense at US$364.8 million. Energean's shares are down 3.4% from a week ago. Revenue is forecasted to grow 13% p.a. on average for the next 3 years. Energean is showing 3 warning signs in their investment analysis.

#Energean #Earnings #Revenue #NetIncome #ProfitMargin #Eps #OilEquivalentProduction

https://finance.yahoo.com/news/energean-full-2023-earnings-misses-075715129.html


Tesla cuts prices nearly $2,000 in China, in line with US cuts
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Tesla has cut prices in China by nearly $2,000 across its line-up in China, in line with its price cuts in the United States. The starting price of the revamped Model 3 was reduced by 14,000 yuan ($1,930) to 231,900 yuan ($32,000) in China. Similar cuts were made to the Model Y, Model S, and Model X. Tesla reported a decline in global vehicle deliveries in the first quarter, and the company has been slow to refresh its models. Elon Musk postponed a planned trip to India to meet Prime Minister Narendra Modi.

#Tesla #China #ElectricVehicles #PriceCuts #Model3 #ModelY #ModelS #ModelX #ElonMusk #NarendraModi

https://finance.yahoo.com/news/tesla-cuts-prices-across-line-024312843.html


IMF's Gopinath says high U.S. demand fueling growth, higher interest rates
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The United States needs to raise revenues to bring down high budget deficits even though they are helping to fuel global growth by stoking domestic U.S. demand, according to International Monetary Fund (IMF) First Deputy Managing Director Gita Gopinath. Gopinath made the statement at a fiscal forum during the IMF and World Bank spring meetings. She mentioned that U.S. deficits are projected to rise for years, leading to higher interest rates and a stronger dollar, which create complications for the world.

#Imf #UsDemand #Growth #InterestRates #BudgetDeficits

https://finance.yahoo.com/news/imfs-gopinath-says-high-u-165622221.html


Repare Therapeutics Inc.'s (NASDAQ:RPTX) market cap dropped US$21m last week; Private equity firms bore the brunt
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Repare Therapeutics Inc.'s market cap dropped by US$21m last week, resulting in losses for private equity firms who hold a 34% stake in the company. The top 5 shareholders own 54% of the business, with institutional ownership at 24%. Hedge funds own 30% of Repare Therapeutics shares, and BVF Partners L.P. is the largest shareholder with 24% of shares outstanding. Insiders hold shares worth US$1.4m. The general public, with an 11% ownership, has some influence over the company. Private equity firms, with a 34% stake, could influence the Repare Therapeutics board. Analyst sentiments and risks should also be considered when evaluating the company.

#RepareTherapeuticsInc #Nasdaq:rptx #MarketCap #PrivateEquityFirms #OwnershipStructure

https://finance.yahoo.com/news/repare-therapeutics-inc-nasdaq-rptx-134349435.html


After VW plant victory, UAW sets its sights on Mercedes in Alabama
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The United Auto Workers (UAW) has won its first unionization vote at an auto factory in the U.S. South and is now aiming to win a second victory at a Mercedes plant in Alabama. The UAW's success at the Volkswagen (VW) plant in Tennessee is expected to provide momentum for its campaign to expand the union outside of Detroit to the U.S. South and West. The UAW is focusing on 13 non-union auto companies, including Toyota and Tesla. The Mercedes plant vote is scheduled for mid-May and is expected to be a tougher fight than at VW. The UAW says a 'supermajority' of the roughly 5,200 eligible workers at the Mercedes assembly plant in Vance, Alabama, and a nearby battery plant in Woodstock support it. The UAW's campaign may face opposition from Republican governors who have opposed the union's efforts, citing job security and higher labor costs for automakers.

#UnitedAutoWorkers #Unionization #Volkswagen #Mercedes #Alabama

https://finance.yahoo.com/news/vw-plant-victory-uaw-sets-130658877.html


Insider Stock Buying Reaches US$696.4k On Rio2
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Multiple insiders, including Alexander Black, have purchased shares of Rio2 Limited (CVE:RIO), with a total value of US$696.4k. Insider buying is seen as a positive sign for shareholders. Over the past year, Rio2 insiders have been buying shares and not selling. In the last quarter, insiders collectively bought CA$651k worth of shares. Insider ownership of Rio2 stands at 18% of the company, indicating alignment between management and smaller shareholders. The recent insider purchases, combined with notable insider ownership, suggest that insiders believe the share price is undervalued. However, it's important to consider the company's lack of profitability and potential risks before making any investment decisions.

#InsiderTrading #StockMarket #Rio2Limited

https://finance.yahoo.com/news/insider-stock-buying-reaches-us-124543692.html