US House to vote on long-awaited $95 billion Ukraine, Israel aid package
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The Republican-controlled U.S. House of Representatives is set to vote on a $95 billion legislative package providing security assistance to Ukraine, Israel, and Taiwan. The package includes $60.84 billion for Ukraine, $26 billion for Israel, and $8.12 billion for the Indo-Pacific. The House Speaker, Mike Johnson, chose to push forward the measure despite objections from hardline members of his majority. The bill has bipartisan support and is expected to pass in the House. Senate Majority Leader Chuck Schumer has urged senators to be ready to work over the weekend if the bill passes in the House.

#Ukraine #Israel #Taiwan #AidPackage #UsHouse

https://finance.yahoo.com/news/us-house-vote-long-awaited-100000116.html


Senate passes reauthorization of key US surveillance program after midnight deadline
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The Senate has voted to reauthorize a key US surveillance law known as Section 702 of the Foreign Intelligence Surveillance Act. The legislation, approved with bipartisan support, extends the program for two years and now awaits President Joe Biden's signature. The surveillance tool, first authorized in 2008, allows the US government to collect the communications of non-Americans located outside the country without a warrant for the purpose of gathering foreign intelligence. The reauthorization faced opposition from privacy advocates and national security hawks, but proponents argue that the program is crucial in disrupting terror attacks and foreign espionage. The Biden administration had expected the program's authority to remain operational for at least another year, but officials stressed the importance of congressional authorization to prevent communications companies from ceasing cooperation. The reauthorization includes reforms to protect Americans' privacy and civil liberties.

#UsSurveillanceProgram #Section702 #ForeignIntelligenceSurveillanceAct #JoeBiden #ChuckSchumer #MarcoRubio #MerrickGarland #Privacy #NationalSecurity

https://finance.yahoo.com/news/senate-passes-reauthorization-key-us-044701884.html


Fed report cites inflation, US election as key financial stability risks
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The Federal Reserve's latest survey of U.S. central bank contacts identifies persistent inflation and higher-for-longer interest rates as key risks to financial stability. Geopolitical troubles and the 2024 U.S. presidential election are also mentioned as potential sources of shocks. The survey results were included in the Fed's Financial Stability Report, which examines leverage and risk-taking in the economy. The report shows little evidence of widespread risks to the financial system, despite borrowing costs remaining high. However, concerns about policy uncertainty related to trade policy, foreign policy issues, and the U.S. elections were noted. The banking system is described as sound and resilient, with strong capital and liquidity levels. Some areas of concern include declining values for commercial real estate and rising leverage among larger hedge funds.

#FederalReserve #Inflation #InterestRates #FinancialStability #GeopoliticalTensions #UsElections #TradePolicy #ForeignPolicy #BankingSystem #CommercialRealEstate #HedgeFunds

https://finance.yahoo.com/news/fed-report-cites-inflation-us-200429677.html


Donald Trump Lost $1 Million In Crypto In The Last 7 Days: Will He Sell?
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Donald Trump's crypto portfolio has seen a loss of over $1 million in the past seven days. Trump began accumulating cryptocurrency in late 2022 through the sale of Trump Digital Trading Cards non-fungible tokens (NFTs). He earned over 1,700 Ethereum (ETH) and Wrapped ETH (WETH) from the project. Trump's largest position is in MAGA Coin (TRUMP), a meme coin that has gained attention. The value of TRUMP tokens received by Trump has fluctuated, reaching highs of over $6.7 million and currently worth around $3 million. In the past week, TRUMP has lost over 15% of its value, contributing to Trump's overall loss. It is unclear whether Trump will sell his position, but the recent losses raise the question of the future of the TRUMP coin.

#DonaldTrump #Crypto #Cryptocurrency #MagaCoin #Trump #Nft #Ethereum #Eth #WrappedEth #Weth

https://finance.yahoo.com/news/donald-trump-lost-1-million-171151902.html


Short sellers recoup losses as rally in US stocks loses steam
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Short sellers have recouped losses of more than $25 billion in the last 30 days as the rally in US stocks loses steam. The receding bets of an early interest rate cut by the US Federal Reserve triggered a selloff in the equity market, allowing short sellers to cover a portion of their heavy losses from last year. The benchmark S&P 500 index is down about 5% in April and off by a similar margin from its record high. Overall US & Canadian equity short exposure fell by $50 billion to $1.08 trillion in the last 30 days. Short positions on MicroStrategy and chip stocks were profitable, while short positions on Exxon Mobil, Alphabet, and Amazon.com were least profitable.

#ShortSellers #UsStocks #InterestRateCut #EquityMarket #S&p500 #Microstrategy #ChipStocks #ExxonMobil #Alphabet #Amazoncom

https://finance.yahoo.com/news/short-sellers-recoup-losses-rally-170840588.html


Biden administration restricts oil and gas leasing in 13 million acres of Alaska's petroleum reserve
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The Biden administration has announced restrictions on new oil and gas leasing on 13 million acres of a federal petroleum reserve in Alaska. The decision aims to protect wildlife such as caribou and polar bears as the Arctic continues to warm. The restrictions were first proposed last year and are part of a larger plan to close nearly half of the reserve to oil and gas leasing. Existing leases and authorized operations are not affected by the decision. The administration also recommended rejecting a state corporation's application for a road in the northwest part of the state to allow mining of critical mineral deposits. Republican lawmakers, including Alaska Senators Dan Sullivan and Lisa Murkowski, criticized the decisions, calling them an attack on the state's economy and national security interests. Environmentalists praised the decision as a commitment to conservation and addressing the climate crisis.

#BidenAdministration #OilAndGasLeasing #Alaska #PetroleumReserve #WildlifeProtection #ClimateChange #Environmentalists #RepublicanLawmakers

https://finance.yahoo.com/news/biden-administration-restricts-oil-gas-090240598.html


What Grocery Prices Tell You About the Economy, According to Experts
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Grocery prices have increased 25% in the last four years due to inflation. Changes in grocery prices reflect the rate of inflation and can indicate the state of the economy. Other expenses like fuel, utilities, and rent can also provide clues about economic trends. Higher fuel costs can affect transportation expenses and the prices of goods and services. Increases in utilities and rent can put a strain on household budgets, potentially slowing down consumer spending. Understanding grocery prices and other everyday costs can help individuals make more informed choices about financial planning and investment strategies. The reported inflation data may not provide the entire picture of inflation figures since some items could bring the overall number down. Grocery prices have gone up significantly, with a 12% jump in 2022 and American families spending 25% more on groceries than before the pandemic. Shrinkflation, where consumers get less for the same price, is also impacting grocery prices. Rising prices can suggest increased production costs or issues with the supply chain, both of which can point to inflationary pressures. Monitoring grocery prices and other expenses can help individuals navigate uncertain economic times and plan their finances accordingly.

#GroceryPrices #Economy #Inflation #Expenses #ConsumerSpending #FinancialPlanning #InvestmentStrategies

https://finance.yahoo.com/news/grocery-prices-tell-economy-according-170140338.html


Wall Street 'fear gauge' flashes as volatility dogs US stocks
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The Cboe Volatility Index (VIX), also known as Wall Street's 'fear gauge,' has reached its highest level in half a year as U.S. stock investors remain defensive. The VIX broke above 20 as tensions between Iran and Israel escalated, the highest since late October. The increase in volatility is attributed to interest rate anxiety and geopolitical tensions. The S&P 500 is down nearly 5% from its late March record closing high. The VIX has not closed above 20 for 121 straight days, the longest streak since 2018. Market participants are concerned about near-term threats to the market, as indicated by the VIX trading 1.26 points higher than its May futures. However, the VIX remains below levels that have historically marked a crescendo of investor fears.

#WallStreet #FearGauge #Volatility #UsStocks #Vix #S&p500 #InterestRates #GeopoliticalTensions #InvestorConfidence

https://finance.yahoo.com/news/wall-street-fear-gauge-flashes-165441361.html


Last Prisoner Project Mobilizes Largest Coalition of Bipartisan Cannabis Advocates to Washington, DC during Cannabis Summit
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Last Prisoner Project (LPP) has mobilized the largest coalition of bipartisan cannabis advocacy, industry, and grassroots organizations to convene in Washington D.C. during the 420 Unity Day of Action. The coalition called for the full legalization of cannabis, the removal of criminal penalties, and retroactive relief. Advocates were joined by elected officials such as Sen. Ron Wyden, Rep. Earl Blumenauer, Rep. Ayanna Pressley, and Rep. Ilhan Omar, who spoke at various events. The coalition also called on lawmakers to support legislation that would federally legalize cannabis and provide funding for state-level expungement programs. The activism concluded with a candlelight vigil in front of the White House to honor those harmed by cannabis criminalization. Throughout the week, advocates were joined by celebrity voices such as Rosario Dawson and M-1 of Dead Prez. The weekend events include educational panels, a fireside chat with a Last Prisoner Project Board Member, and a concert headlined by Wu-Tang Clan and Redman. The Last Prisoner Project is dedicated to freeing those incarcerated due to the War on Drugs and helping them rebuild their lives.

#Cannabis #Advocacy #CriminalJusticeReform #Bipartisan #WashingtonDc #420UnityDayOfAction

https://finance.yahoo.com/news/last-prisoner-project-mobilizes-largest-155900602.html


Fed's Goolsbee: Progress in inflation fight has 'stalled'
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Chicago Fed President Austan Goolsbee says the progress the central bank had been making in bringing down inflation has 'stalled.' Goolsbee thinks it 'makes sense' to wait on rate cuts. Goolsbee's pivot is notable given that he has been one of the members of the Federal Reserve.

#FederalReserve #Inflation #RateCuts

https://finance.yahoo.com/video/feds-goolsbee-progress-inflation-fight-150047119.html


Futures fall as Middle East tensions simmer, Netflix slumps
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U.S. stock index futures slipped on Friday as investors turned risk-averse following reports of an escalation in the Middle East conflict. Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes. The CBOE Volatility index, also known as Wall Street's "fear gauge", was up 1.83 points at 19.83, its highest level in more than five months. On the earnings front, Netflix slumped 6.3% in premarket trading following the streaming video pioneer's lackluster second-quarter forecast. Shares of other streaming services providers such as Walt Disney and Roku dropped 1.3% and 1.5%, respectively. The S&P 500 and the Nasdaq closed lower for the fifth straight session on Thursday, as economic data and comments from Fed officials suggested that the U.S. central bank was unlikely to cut interest rates in the near future. Equities were rattled this week as investors readjusted their expectations over by how much the Fed would cut rates this year. Money markets are now pricing in about 40 basis points of cuts from the central bank, down from around 150 bps seen at the beginning of 2024. Most megacap growth stocks also slipped, with Apple, Nvidia, Meta Platforms and Tesla down between 0.4% and 1.9%. Shares of Paramount Global jumped 10.7% after a person familiar with the matter told Reuters that Sony Pictures Entertainment and Apollo Global Management are discussing making a joint bid for the company.

#StockMarket #MiddleEastTensions #Netflix

https://finance.yahoo.com/news/futures-fall-middle-east-tensions-094423203.html


Thames Water Lenders Face 40% Losses If It’s Nationalized
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Lenders to Thames Water could face losses of up to 40% if the UK government nationalizes the water utility. The highly indebted company, which supplies a quarter of people in England, is in crisis after its parent company Kemble Water Holdings refused to inject more money into the business. Thames Water postponed a key update to its business plan, originally scheduled for Friday, and is required to submit its plan to the regulator under a five-yearly price review process. Internal government planning has considered the possibility of nationalization, with some bondholders facing losses of 35% to 40% and the majority facing smaller losses of 5% to 10%. The government has sought to play down the chances of nationalization and wants Thames Water to resolve its financial difficulties without taxpayer support.

#ThamesWater #Nationalization #UkGovernment #Lenders #Debt

https://finance.yahoo.com/news/thames-water-lenders-face-40-220212245.html


Take Five: Dancing to the dollar's beat
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Inflation has caused central bankers to reconsider rate cuts, making the Federal Reserve's rate cuts in the first half of the year unlikely. Japan's finance minister wants to stem the yen's slide without intervention. Asian currencies have been hit hard by the strong dollar, and emerging Asia central banks may face difficulties. The flash PMIs of April business activity will reveal if inflation is returning. Earnings reports from tech giants like Tesla, Meta, Microsoft, and Alphabet are expected. European banks are moving off the naughty list as interest rate rises have benefited them, but upcoming ECB rate cuts may impact their earnings.

#Inflation #CentralBanks #RateCuts #EarningsReports #TechGiants #AsianCurrencies #FlashPmis #InterestRates #EcbRateCuts #EuropeanBanks

https://finance.yahoo.com/news/five-dancing-dollars-beat-071127154.html


Stocks Drop, Treasuries Climb Amid Mideast Tension: Markets Wrap
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US equity futures fell in early Asian trading as risk sentiment turned, weighing on the region’s equities. Oil prices resumed a selloff and investors retreated to the dollar. Contracts for the S&P 500 fell more than 1% Friday, placing the US benchmark on track for a sixth consecutive decline should the underlying index end Friday lower. Japanese stocks fell around 2%, while those in Australia and South Korea dropped more than 1%. Treasury yields fell, with the 10-year’s nearing 4.5%. The yen was slightly firmer against the greenback. US-listed shares of Taiwan Semiconductor Manufacturing Co. dropped 4.9% after the company revised down the revenue growth outlook for the semiconductor industry. New York Fed President John Williams said while it’s “not” his baseline expectation to hike interest rates, it’s possible — if warranted. His Atlanta counterpart Raphael Bostic said he doesn’t think it will be appropriate to ease until toward the end of 2024. The market’s biggest worry right now is inflation, which is re-accelerating and throwing cold water on the idea of any rate cuts in 2024. Most emerging market currencies fell on Thursday, with the Mexican peso among the laggards as rising volatility derails carry trade positions that has propelled the currency higher for the past few months. Gold advanced amid growing political risks and demand from central banks and Chinese consumers. Israel received its first-ever sovereign downgrade as S&P Global Ratings lowered its credit rating to A+ from AA- on heightened geopolitical risks for the region.

#Stocks #Treasuries #MideastTension #Equities #OilPrices #Dollar #S&p500 #JapaneseStocks #AustralianStocks #SouthKoreanStocks #TreasuryYields #Yen #TaiwanSemiconductorManufacturingCo #InterestRates #Inflation #EmergingMarketCurrencies #MexicanPeso #Gold #Israel #S&pGlobalRatings

https://finance.yahoo.com/news/asian-stocks-set-drop-hawkish-221827457.html


U.S. Steel deal security review to proceed normally, White House says
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The White House has stated that the national-security review of the deal for Japan's Nippon Steel to acquire U.S. Steel will proceed as normal. President Joe Biden has expressed opposition to the sale, but it remains unclear if he will take any additional steps to block the deal. The White House economic adviser emphasized the importance of the steel industry to national security and supply chain resilience. U.S. Steel and Nippon Steel have both stated that U.S. Steel will remain an American company even after the acquisition. U.S. Steel shares closed down 0.5% at $38.94, while Nippon Steel shares closed up 0.9% to 3,463 yen in Tokyo.

#UsSteel #NipponSteel #Acquisition #NationalSecurity #SupplyChainResilience

https://finance.yahoo.com/news/white-house-says-u-steel-163031782.html


Exclusive-Northrop Grumman working with Musk's SpaceX on U.S. spy satellite system
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Aerospace and defense company Northrop Grumman is collaborating with SpaceX on a classified spy satellite project. The program aims to enhance the U.S. government's ability to track military and intelligence targets from low-Earth orbits, providing high-resolution imagery. Northrop Grumman's involvement reflects a desire to avoid putting too much control of the program in the hands of one contractor. Northrop Grumman is providing sensors for some of the SpaceX satellites and will test those satellites at its own facilities. The National Reconnaissance Office awarded SpaceX a $1.8 billion contract for the project, and SpaceX has launched roughly a dozen prototypes and is providing test imagery to the NRO. The satellite network will have superior resolution and will address concerns about gathering imagery in other countries' airspace. Once fully deployed, the network will be equipped with various sensors and relay satellites for transmitting data across the network.

#NorthropGrumman #Spacex #SpySatellite #UsGovernment #LowearthOrbits #HighresolutionImagery #NationalReconnaissanceOffice #Nro

https://finance.yahoo.com/news/exclusive-northrop-grumman-working-musks-144135155.html


US Yields Rise as Solid Data Keeps Lid on Fed Bets: Markets Wrap
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Treasury yields edged higher after solid economic data spurred bets the Federal Reserve will be in no rush to cut interest rates. Initial applications for US unemployment benefits remained subdued last week, consistent with a healthy job market. Separately, the Philadelphia Fed gauge of manufacturing activity topped estimates. Micron Technology Inc. is poised to get $6.1 billion in grants from the Commerce Department to help pay for domestic factory projects. Taiwan Semiconductor Manufacturing Co. delivered a better-than-projected revenue outlook and stuck with plans to spend as much as $32 billion in 2024. Infosys Ltd. forecast tepid sales growth for the year. D.R. Horton Inc. increased sales expectations for its full fiscal year. Alaska Air Group Inc. expects second-quarter profits will top analyst estimates. Las Vegas Sands Corp. said renovations at an entertainment center and a hotel in Macau will crimp results this year. EBay Inc.’s embrace of artificial intelligence has turned the stock’s most bearish analyst into its biggest fan. Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter. Ally Financial Inc.’s profit fell short of estimates. Elevance Health Inc. raised its outlook for the year on first-quarter results that offered some relief to investors after a cyberattack against a rival roiled the health-insurance sector.

#UsYields #FederalReserve #EconomicData #TreasuryYields #UnemploymentBenefits #MicronTechnology #TaiwanSemiconductorManufacturing #Infosys #DrHorton #AlaskaAirGroup #LasVegasSands #Ebay #Blackstone #AllyFinancial #ElevanceHealth

https://finance.yahoo.com/news/asian-shares-pressured-chipmakers-focus-221436462.html


Morning Bid: Recoiling oil and dollar sow calm as tech earnings loom
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A sharp retreat in oil prices and a rare joint warning from major economies against excessive dollar strength have helped calm restive markets just as Big Tech earnings start to hit. Despite the Middle East tensions and punchy U.S. economic readouts, U.S. crude prices turned tail and have now recoiled some 6.5% from Friday's 2024 highs to levels last seen before Israel's attack on Iran's Syrian consulate on April 1. Surging U.S. crude inventories, poor economic numbers from China for March and a U.S. warning about releasing more of its Strategic Petroleum Reserve if necessary have all reined in oil. The dollar, similarly, has come off the boil - partly after a warning shot from Japan, South Korea and the United States about potentially destabilising currency moves in Asia. The steadier bond and currency complex helped soothe edgy stock markets around the world as first quarter corporate earnings stream in and attention switches to major tech sector updates.

#OilPrices #DollarStrength #TechEarnings #StockMarkets

https://finance.yahoo.com/news/morning-bid-recoiling-oil-dollar-100428297.html


THE FEDERAL GOVERNMENT'S HYPOCRISY WHEN DEALING WITH NICOTINE PRODUCTS IS SECOND TO NONE
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Imperial Tobacco Canada criticizes the federal government's recent excise increases on cigarettes and vaping products, calling out their justification and challenging the Liberal Party of Canada's real intentions when it comes to nicotine. The government is accused of being addicted to cigarette taxes and the excise increase is expected to fuel the illegal and untaxed market. Currently, one third of cigarettes in Canada are sold illegally, resulting in a loss of over $2.5 billion in tax revenues annually. The government is accused of driving consumers to untaxed cigarettes without providing solutions or dedicating resources to enforce existing regulations. Imperial Tobacco Canada suggests a public inquiry to investigate the government's support and encouragement of the illegal tobacco trade. With vaping, the concern is that increased taxes may deter adult smokers from switching to a less harmful alternative. The federal government is criticized for being disconnected from reality and lacking a real policy to deal with nicotine products. Canadian nicotine users are urged to consider this when electing the next government.

#NicotineProducts #ExciseIncreases #Cigarettes #VapingProducts #IllegalMarket #TaxRevenues #UntaxedCigarettes #GovernmentRegulations #PublicInquiry #HarmReduction #FederalGovernment #ImperialTobaccoCanada

https://finance.yahoo.com/news/federal-governments-hypocrisy-dealing-nicotine-100000692.html


Critics of India's Modi migrate online as mainstream media stays deferential
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As India's general election approaches, critics of Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) are finding their voices online rather than in mainstream media. Online platforms like YouTube, Facebook, and Instagram have become popular outlets for individuals to express their criticism of Modi and the BJP. YouTuber Dhruv Rathee's video accusing Modi of behaving like a dictator has garnered over 27 million views. Other voices critical of Modi are also active on social media, particularly in the Hindi language. Despite the online criticism, opinion polls still predict Modi and the BJP will win the election. However, the online criticism indicates an appetite for critical content and may mobilize those who already oppose the BJP.

#India #GeneralElection #NarendraModi #BharatiyaJanataParty(bjp) #OnlineCriticism #SocialMedia

https://finance.yahoo.com/news/critics-indias-modi-migrate-online-094625076.html


Global Steel Rebars Market Report 2024: The U.S. Market is Estimated at $8.9 Billion, While China is Forecast to Grow at 4.6% CAGR
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The global market for Steel Rebars is projected to reach a size of US$357.1 Billion by 2030, growing at a CAGR of 4% over the analysis period 2023-2030. Deformed Steel Rebars is projected to reach US$266.2 Billion by the end of the analysis period. The Steel Rebars market in the U.S. is estimated at US$8.9 Billion in 2023. China is forecast to reach a market size of US$172.7 Billion by 2030 with a CAGR of 4.6%. Other noteworthy markets include Japan and Canada, each forecast to grow at 2.3% and 3% respectively over the 2023-2030 period. Germany is forecast to grow at approximately 2.6% CAGR within Europe. The report provides insights from domain experts and influencers in the industry.

#SteelRebars #MarketReport #GlobalMarket #China #Us #Cagr

https://finance.yahoo.com/news/global-steel-rebars-market-report-085900532.html


UN says solutions exist to rapidly ease debt burden of poor nations
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Rebeca Grynspan, the UN's trade and development chief, stated that the heavy debt burden facing developing countries can be alleviated through readily available measures. In 2022, developing countries paid almost $50 billion more to their external creditors than they received in fresh disbursements. Grynspan emphasized that the small and medium-sized countries are the ones in distress, spending more on debt than on human development. Currently, there are 52 countries either in debt distress or on the brink of it. Grynspan plans to address the issue during the meetings of the International Monetary Fund and World Bank. She called for an internationally-agreed, stable mechanism for debt restructuring and highlighted the need for immediate relief for countries suffering from cascading crises during the COVID-19 pandemic. Grynspan suggested removing surcharges that 17 countries pay to the IMF, which would free up $2 billion. She also supported the idea of providing guarantees to lower interest rates in developing countries and accelerating the IMF's Resilience and Sustainability Trust. Other proposals included swapping debt for nature and automatically suspending interest payments for countries affected by natural disasters.

https://finance.yahoo.com/news/un-says-solutions-exist-rapidly-054211182.html


Japan Inc makes a renewed U.S. push as China fears mount
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Japanese companies are increasingly focusing on the United States as concerns about Chinese demand and Beijing's influence over supply chains grow. Companies such as Yaskawa Electric, Asahi, Renesas Electronics, and Honda have expressed interest in expanding in the U.S. or have announced plans to do so. While Japan remains tied to China through trade and manufacturing operations, Tokyo has pledged to limit supply-chain exposure to China. The caution is due to economic security risks, pessimism about Chinese demand, and a weakening economy. Japanese automakers are particularly interested in the U.S. market as their sales decline in China. Toyota plans to boost investment in its EV battery plant in North Carolina, while Honda will invest in transforming its Ohio plants into an EV hub. However, Japan Inc remains heavily reliant on China as a manufacturing base and market. Last year, mainland China was Japan's largest source of imports and its second-largest export market. The United States was its top export market. Some companies see the U.S. market as a better long-term option, while others are unable to leave the Chinese market due to their reliance on it.

#JapanInc #China #UnitedStates #SupplyChains #Trade #Manufacturing #Automakers #EvBattery #Investment

https://finance.yahoo.com/news/analysis-japan-inc-makes-renewed-081418124.html


Biden gets Trumpy on trade
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President Joe Biden has begun the process of hiking US tariffs on Chinese steel and aluminum imported to the United States, borrowing a move from former President Donald Trump. Biden wants to triple the tariff, from 7.5% to 22.5%, claiming that China undercuts market prices by subsidizing its domestic manufacturers. He also plans to prevent China from importing metals through third parties and investigate unfair Chinese practices in the shipbuilding industry. While Trump imposed tariffs on hundreds of billions of dollars of imports during his presidency, Biden's approach is more targeted, focusing on protecting specific sectors of the US economy. The new steel and aluminum tariffs are likely to have a minimal impact, as China only accounts for a small percentage of imported steel and aluminum. Many economists hope that Biden will not make extensive use of tariffs, as they can cause distortions and raise costs for industries. However, protectionism is becoming a political necessity as politicians compete to protect manufacturing jobs. Trump has criticized Biden's approach and has proposed even higher tariffs if he is elected for another term.

#JoeBiden #DonaldTrump #Tariffs #UschinaTrade #Protectionism

https://finance.yahoo.com/news/biden-gets-trumpy-on-trade-210820760.html


Stock market today: Tech leads stock slide, Nvidia falls almost 4%
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US stocks fell on Wednesday, with the S&P 500 ending down about 0.6% and the tech-heavy Nasdaq Composite leading the losses, falling over 1%. Nvidia fell almost 4% and Meta slid over 1%. The tech sector was the worst-performing sector in the S&P 500, falling nearly 1.5%. Stocks have struggled to reprise their early-year rally, buffeted most recently by worries over heightened tensions in the Middle East and uncertainty over the timing and depth of rate cuts. United Airlines shares rose more than 17% after posting better-than-expected quarterly results. ASML fell more than 7% after missing order estimates. Oil futures fell roughly 3% as the risk of a widening conflict in the Middle East appeared to ease. Mortgage demand picked up for the second consecutive week even though rates rose during that period. The S&P 500 closed lower for a fourth straight day, marking its first four-day losing streak since late December into the start of 2024. Investors increasingly expect a 'no landing' scenario for the US economy, in which inflation doesn't reach the Fed's 2% target, but the US economy keeps growing. Higher rates haven't always been a problem for stocks, as the S&P 500's monthly return has actually delivered its best annualized average returns when the 10-year Treasury yield was higher. Earnings season is under scrutiny as companies that miss estimates for both earnings per share and revenue have seen a negative stock reaction of more than 10% the next day. United Airlines stock rose more than 10% after reporting better-than-expected quarterly results. US stocks rebounded in early trade on Wednesday, with the S&P 500 and Dow Jones Industrial Average both up roughly 0.4%. Netflix shares have had a great ride this year, up 27% year to date. Investors are still hoping for rate cuts in 2024. Tesla shares have had an awful start to 2024, down about 90% from their October 2020 peak. Shares of Zoom and Peloton hit fresh lows.

#StockMarket #Tech #Nvidia #Meta #UnitedAirlines #Asml #OilFutures #MortgageDemand #UsEconomy #EarningsSeason #Netflix #Tesla #Zoom #Peloton

https://finance.yahoo.com/news/live/stock-market-today-tech-leads-stock-slide-nvidia-falls-almost-4-200416367.html


Biden Calls China ‘Xenophobic,’ Ramping Up 2024 Campaign Rhetoric
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President Joe Biden called China 'xenophobic' and highlighted their economic woes during a campaign stop in Pennsylvania. He mentioned that China has a population with more people in retirement than working and that they are not importing anything. Biden also called for higher tariffs on Chinese steel and aluminum and criticized Trump's policies towards Beijing. He vowed to continue efforts to deny China advanced technology like computer chips. Chinese officials have recently sought to boost investor confidence overseas, but foreign businesses' direct investment into China slumped to a 30-year low in 2023. Imports into China have been weak due to falling commodity prices and weak domestic demand.

#Biden #China #Xenophobic #Tariffs #Steel #Aluminum #Technology #Imports

https://finance.yahoo.com/news/biden-calls-china-xenophobic-ramping-205516808.html


BofA CEO explains inflation is shifting consumer spending
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Bank of America CEO Brian Moynihan discusses the bank's better-than-expected first quarter earnings and the state of the US consumer. Moynihan notes that US consumer activity is slowing down but not stopping, and that consumers are spending on discretionary purchases and necessary purchases at about the same levels as before the pandemic. He believes the Federal Reserve is winning the fight against inflation, but it will take time. Moynihan also explains why Bank of America's credit card business is seeing success.

#BankOfAmerica #Inflation #ConsumerSpending #UsConsumer #FederalReserve

https://finance.yahoo.com/video/bofa-ceo-explains-inflation-shifting-200706977.html


Why You Should Replace Daily Work Tasks With AI To See If Your Paycheck Is at Risk
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Since OpenAI’s ChatGPT launched in November 2022, fear of job security has increased among the workforce. The chatbot is capable of numerous tasks and some workers may be in danger of being replaced with AI. Some of the jobs in peril include teachers, coders, writers, day traders, graphic designers, accountants, and customer service agents. According to a recent report by the McKinsey Global Institute, activities that account for up to 30 percent of hours currently worked across the US economy could be automated by 2030. The report projects an additional 12 million occupational shifts will take place through 2030 as a result of AI. AI can be an advantageous powerful tool and boost productivity, but it can also threaten the livelihood of many. AI can streamline tasks to help increase efficiency, but it can't do everything. There still has to be a person using and coordinating all those AIs, along with doing the abstract thinking that, for now, remains the sole domain of humans.

#Ai #JobSecurity #Workplace #Automation

https://finance.yahoo.com/news/why-replace-daily-tasks-ai-194010491.html


CAUT calls on the Alberta government to scrap Bill 18
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The Canadian Association of University Teachers (CAUT) is urging the Government of Alberta to withdraw or amend Bill 18, which would give the government the power to review federal research funds received by university-based researchers. CAUT argues that the bill threatens scientific integrity, academic freedom, and could result in the loss of millions of dollars in funding for the province's researchers. CAUT is working with its member academic staff associations to explore potential legal challenges if the bill becomes law.

#Caut #AlbertaGovernment #Bill18 #ScientificIntegrity #AcademicFreedom #ResearchFunding

https://finance.yahoo.com/news/caut-calls-alberta-government-scrap-180000413.html


Exclusive-US plans to restore tariffs on dominant solar technology, sources say
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The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs. The request comes as Qcells is seeking to protect a pledged $2.5 billion expansion of its U.S. solar manufacturing presence against competition from cheaper Asian-made products. The solar division of Korean conglomerate Hanwha Corp outlined the request in a formal petition to the U.S. Trade Representative on Feb. 23. No decision has been made on the timeline of the expected reversal. Duties on imports of bifacial panels, the main technology in utility-scale solar projects, would be a boon to the more than 40 solar equipment factories planned since U.S. President Joe Biden signed his landmark climate change law, the Inflation Reduction Act, in 2022. The top U.S. solar trade group, the Solar Energy Industries Association, lobbied for the bifacial exemption. Qcells, which has two factories in Georgia, is the largest U.S. producer of silicon-based solar products. In its petition, the company asked Biden to revoke an exemption of so-called bifacial panels from duties first imposed by Republican former President Donald Trump in 2018 and extended by Biden, a Democrat, in 2022. The tariffs on imported modules started at 30% and currently stand at 14.25%. They are due to expire in 2026. Bifacial panels can generate electricity on both sides. The technology was nascent when the tariffs were first imposed but now accounts for 98% of imported modules, according to the petition. Qcells' request is supported by seven other solar manufacturers with U.S. factories - First Solar, Heliene, Suniva, Silfab, Crossroads Solar, Mission Solar and Auxin Solar - according to the petition documents. Georgia U.S. Senators Jon Ossoff and Raphael Warnock, both Democrats, have also advocated for elimination of the bifacial exemption.

#SolarEnergy #Tariffs #Trade #SolarPanels #HanwhaQcells

https://finance.yahoo.com/news/exclusive-us-plans-restore-tariffs-174552592.html


Tesla asks shareholders to reinstate Musk's $56 billion pay package, approve move to Texas
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Tesla has asked its shareholders to vote on two big requests in its latest proxy statement: to move Tesla's state of incorporation to Texas and to ratify CEO Elon Musk's 2018 pay package. The decision to move Tesla's state of incorporation to Texas comes after a Delaware chancery court rescinded Musk's pay package earlier this year. Musk's pay package was worth around $56 billion. Tesla board chair Robyn Denholm stated that the time is right for Tesla to move its corporate home to Texas, where the company has been headquartered since December 2021. Proxy adviser firms Glass Lewis and ISS have not yet recommended whether shareholders should vote for or against the proposals.

#Tesla #ElonMusk #Shareholders #PayPackage #Texas

https://finance.yahoo.com/news/tesla-asks-shareholders-to-reinstate-musks-56-billion-pay-package-approve-move-to-texas-164421795.html


Trudeau’s Ex-Finance Minister Criticizes Capital Gains Tax Hike
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Bill Morneau, former finance minister under Prime Minister Justin Trudeau, criticized the idea of hiking the capital gains tax, stating it would stunt Canada's economic growth. He called the move 'very troubling for many investors.' The federal budget unveiled a measure to raise the capital gains tax inclusion rate to two-thirds from one-half, applicable to all gains made by corporations and trusts. The measure is projected to raise C$19.4 billion over five years. Morneau expressed concerns about the growth of the country and the negative impact on long-term economic growth and investment. He also criticized the amount of new spending in the budget and the lack of effort to reduce spending. Ontario Finance Minister Peter Bethlenfalvy also criticized the move to raise tax revenue, stating that taxing one's way to prosperity is not possible.

#Canada #CapitalGainsTax #EconomicGrowth #FederalBudget #TaxRate

https://finance.yahoo.com/news/trudeau-ex-finance-minister-criticizes-164500699.html


Microsoft’s $13 Billion OpenAI Deal to Avoid Formal EU Probe
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Microsoft's $13 billion investment into OpenAI Inc. is set to avoid a formal investigation by European Union merger watchdogs. The European Commission has decided that the tie-up doesn't merit a formal probe because it falls short of a takeover and that Microsoft doesn't control the direction of OpenAI. The EU's antitrust arm said in January it was reviewing whether Microsoft's involvement with OpenAI should be vetted after a mutiny at the ChatGPT creator exposed deep ties between the two firms. Microsoft's $13 billion OpenAI investments piqued the interest of regulators, including the UK's Competition and Markets Authority and the US Federal Trade Commission. The EU said it would look at Microsoft's investments as part of a broader examination into anticompetitive risks brought by Big Tech involvement in next-generation AI technologies.

#Microsoft #Openai #EuMergerInvestigation #AiTechnologies

https://finance.yahoo.com/news/microsoft-13-billion-openai-deal-160149352.html


Stock market today: Tech leads stocks lower amid mixed earnings, rate cut worries
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US stocks were mixed on Wednesday, struggling to mount a comeback as investors' interest rate worries coincide with a fresh slate of corporate earnings. The S&P 500 and the Dow Jones Industrial Average were down about 0.1%, while the tech-heavy Nasdaq Composite slipped roughly 0.3%. Stocks have struggled to reprise their early-year rally, buffeted most recently by worries over heightened tensions in the Middle East and uncertainty over the timing and depth of rate cuts. Investors increasingly expect a 'no landing' scenario for the US economy, where inflation doesn't reach the Fed's 2% target, but the US economy keeps growing. United Airlines shares rose 12% after posting better-than-expected quarterly results. Earnings season is under scrutiny as companies that miss estimates for both earnings per share and revenue have seen a negative stock reaction of more than 10% the next day. Tesla shares have fallen 27% year to date, and investors are concerned about the company's outlook for the back half of the year. Zoom and Peloton shares hit fresh lows as people return to the office and gyms. Tesla has had an awful start to 2024, with layoffs, estimate cuts, delayed Cybertruck deliveries, and the scrapping of the promised cheap Tesla.

#UsStocks #InterestRateWorries #CorporateEarnings #Inflation #UnitedAirlines #EarningsSeason #Tesla #Zoom #Peloton

https://finance.yahoo.com/news/live/stock-market-today-tech-leads-stocks-lower-amid-mixed-earnings-rate-cut-worries-133303778.html


Tennessee VW workers begin voting in key test for union
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Volkswagen employees in Tennessee have started voting in a three-day election to determine whether the United Auto Workers (UAW) union will represent them. If successful, this would make Volkswagen the first foreign carmaker to unionize in the American South. The UAW has historically struggled to gain traction in the region, but hopes are high due to the success of last fall's strikes at Detroit's 'Big Three' carmakers. The UAW has targeted 13 companies with nearly 150,000 workers in an ambitious organizing campaign, primarily focused on the American South. Tennessee Governor Bill Lee and other Republican governors have denounced the UAW campaign, while Volkswagen has taken a neutral stance and stated that it respects its workers' right to decide on union representation.

#Volkswagen #UnitedAutoWorkers #Uaw #LaborUnion #Tennessee #AmericanSouth

https://finance.yahoo.com/news/tennessee-vw-workers-hold-key-013845540.html


LinkUp Launches Compass, a Visual Multitool for Job Market Insight
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LinkUp, the leading provider of global job market data, has launched Compass, a digital toolset for analyzing labor demand in real time. Compass allows users to query a large dataset through an intuitive interface and provides interactive visual renderings of LinkUp's raw data. The platform is powered by LinkUp's comprehensive dataset of job openings sourced directly from employer websites since 2007. The initial release of Compass includes the U.S. Macro Dashboard, which offers monthly and weekly labor demand data, providing insights on U.S. job growth faster than traditional reports. LinkUp plans to release additional products on its Compass platform, including offerings focused on individual employers and specific industry verticals. The goal is to provide accurate insights on the job market at unprecedented speed.

#JobMarket #LaborDemand #DataAnalysis #Visualization #Linkup #Compass

https://finance.yahoo.com/news/linkup-launches-compass-visual-multitool-150500313.html


Strong Q4 FY23 Numbers and Guidance Pushed CRH plc (CRH) in Q1
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CRH plc (CRH), a building materials manufacturer and distributor, saw a strong rally in its stock after delivering strong Q4 FY23 numbers and providing FY24 guidance that was 5% ahead of consensus expectations. The company is expected to benefit from the exceptional growth in U.S. infrastructure spending, with the Infrastructure Investment and Jobs Act, Inflation Reduction Act, and the Chips and Science Act adding roughly $2 trillion in investment to aging U.S. infrastructure. CRH plc has a market capitalization of $54.899 billion and was held by 65 hedge fund portfolios at the end of Q4. The portfolio of L1 Long Short Fund, an investment management firm, returned 7.4% in Q1 2024 compared to 5.3% for the S&P/ASX 200 AI index.

#CrhPlc #BuildingMaterials #Q1Performance #Guidance #UsInfrastructureSpending

https://finance.yahoo.com/news/strong-q4-fy23-numbers-guidance-140946146.html


US auto sector 'whipsawed' by politicians, Ford chairman says
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The U.S. auto industry needs regulatory certainty from politicians in Washington and the back and forth as the White House changes hands doesn't help, but the adoption rate of electric vehicles will continue to grow, Ford Motor's executive chairman Bill Ford said on Wednesday. The growth rate on EV sales has slowed, but globally they are being adopted quickly and Ford will follow even as it hedges it bets with its gasoline-powered and hybrid electric vehicles. Michigan is a key battleground state in the election this fall and both Biden and Trump have been speaking to voters, including many industry workers, about the challenges the U.S. auto sector faces. Bill Ford said when he talks with politicians in Washington, he gets very different viewpoints from the two parties. Ford Motor on Tuesday resumed shipments of its F-150 Lightning electric pickup after an undisclosed quality issue led to a nine-week halt starting in February. Ford CEO Jim Farley has said the U.S. automaker was committed to scaling up its EV business profitably. It lost nearly $4.7 billion on its EV business in 2023 and projected it will lose $5 billion to $5.5 billion this year.

#UsAutoIndustry #ElectricVehicles #FordMotor #BillFord #JoeBiden #DonaldTrump

https://finance.yahoo.com/news/us-auto-sector-whipsawed-politicians-140643150.html


This Tampa woman says she has to ‘starve’ herself just to ‘survive’ in the US — why she’s not alone
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Sammy, a server in Tampa, went viral on TikTok for expressing her struggles with the high cost of living in the US. After taxes and other expenses, she is left with only $30,000 per year to cover food, insurance, and other necessities. Sammy's situation is not unique, as a 2024 Pew Research Center study found that over 90% of Americans are concerned about the cost of food and consumer goods. The USDA's latest report on food security revealed that 12.8% of American households experienced food insecurity in 2022. The price of food has increased by 25% between 2019 and 2023. Some TikTokers have been sharing grocery hacks and ways to stretch food until the next paycheck. Relocating to tax-free states like Florida is becoming a common strategy for Americans who want to keep more of their income. Some individuals are even leaving the US altogether in search of a better quality of life and lower cost of living. Adalia Aborisade, a TikToker, moved to Mexico in 2020 and claims to have a better quality of life despite a lower income.

#CostOfLiving #FoodInsecurity #Taxes #Tiktok #Usda

https://finance.yahoo.com/news/tampa-woman-says-she-starve-134100550.html


Tesla wants shareholders to reinstate $56 billion pay package for Musk rejected by Delaware judge
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Tesla will ask shareholders to reinstate a $56 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric car maker’s corporate home from Delaware to Texas. In January, Chancellor Kathaleen St. Jude McCormick ruled that Musk is not entitled to a landmark compensation package awarded by Tesla’s board of directors that is potentially worth about $55.8 billion over 10 years starting in 2018. Musk has already moved his privately held brain implant company, Neuralink, from Delaware to Nevada. Tesla's board wrote that if there is any significant vote against future executive pay packages, 'we will consider our stockholders' concerns, and the compensation committee will evaluate whether any actions are necessary to address those concerns.'

#Tesla #ElonMusk #CompensationPackage #Shareholders #Delaware #Texas

https://finance.yahoo.com/news/tesla-ask-shareholders-reinstate-pay-112125905.html


Tesla again seeks shareholder nod for Musk's 2018 pay voided by judge
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Tesla is seeking shareholder approval for CEO Elon Musk's $56 billion pay package that was set in 2018 but rejected by a Delaware judge in January. The compensation includes no salary or cash bonus but sets rewards based on Tesla's market value rising to as much as $650 billion over the next 10 years. Musk's pay was rejected by Kathaleen McCormick of Delaware's Court of Chancery, who called it an 'unfathomable sum' that was unfair to shareholders. Tesla disagrees with the court's decision and is urging shareholders to vote in favor of the pay package. The electric automaker is also asking shareholders to approve its decision to move the company's state of incorporation from Delaware to Texas.

#Tesla #ElonMusk #Shareholders #ExecutiveCompensation #Delaware #Texas

https://finance.yahoo.com/news/tesla-asks-shareholders-vote-musks-110946547.html


FTC Preparing Objections to Tapestry’s Capri Deal, NYT Says
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US regulators are preparing to block fashion company Tapestry Inc.'s $8.5 billion takeover of Capri Holdings Ltd., according to the New York Times. The Federal Trade Commission (FTC) is expected to discuss the case this week and may decide to file a lawsuit. The potential lawsuit could prevent the creation of a US-based luxury conglomerate to compete with European fashion companies. Tapestry sells luxury goods under the Coach, Kate Spade, and Stuart Weitzman brands, while Capri controls high-end labels Michael Kors, Versace, and Jimmy Choo. The combined companies would be the fourth-largest luxury company in the world and second-largest in the Americas. Capri's stock price has fallen in recent trading sessions due to concerns that the FTC might block the deal. Shares of Tapestry rose 1.9% before US markets opened, while Capri's fell 2.5%.

#Ftc #Tapestry #CapriHoldings #LuxuryGoods #FashionCompanies

https://finance.yahoo.com/news/ftc-preparing-objections-tapestry-capri-114434818.html


Biden to call for tripling tariffs on Chinese metals
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President Joe Biden will call for tripling tariffs on Chinese steel and aluminum when he speaks to union members in Pennsylvania. The Biden administration says China is overproducing goods to export to the U.S., driving down prices and hurting the American economy. The current average tariff on steel and aluminum from China is 7.5%, and Biden is calling on the Office of the U.S. Trade Representative to triple the tariff rate. Critics argue increased tariffs would raise consumer prices and inflation. Biden has been ramping up his economic rhetoric against China, following in the footsteps of former President Donald Trump. The push for higher tariffs on China is aimed at resonating with blue-collar voters in Pennsylvania.

#Biden #China #Tariffs #Steel #Aluminum

https://finance.yahoo.com/news/biden-call-tripling-tariffs-chinese-110000081.html


Wall Street says a Wall Street revival is finally here
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Bank of America, Goldman Sachs, Citigroup, Morgan Stanley, and JPMorgan Chase all reported first-quarter jumps in investment banking, with revenues up 26.6% from a year ago. Bank of America saw the biggest jump of 34%, followed by 32% increases at Goldman and Citigroup. CEOs are optimistic about the turnaround, with Morgan Stanley boss Ted Pick describing the pipeline as growing and Goldman CEO David Solomon stating that the capital markets are reopening. The rebound in investment banking comes at a time when higher interest rates are impacting traditional consumer banking margins. Last year was a disappointing year for dealmaking, but executives are now more optimistic, citing the need for companies to grow or restructure following the pandemic and pressure from limited partners for private equity firms to return more capital. Trading revenue also rose for the five big Wall Street banks in the first quarter, with equities performing better than fixed income. Bank executives are cautious about hyping expectations for trading, but changing expectations for the US and global economy have increased client activity at these banks.

#WallStreet #InvestmentBanking #Revenues #Ceos #Turnaround #HigherInterestRates #Dealmaking #TraditionalConsumerBanking #PrivateEquity #LimitedPartners #TradingRevenue #Equities #FixedIncome #ClientActivity

https://finance.yahoo.com/news/wall-street-says-a-wall-street-revival-is-finally-here-080059304.html


Dollar edges down but still close to 5-1/2 month high, Fed, Middle East in focus
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The dollar edged down but was still within striking distance of its 5-1/2-month high on Wednesday, keeping the yen rooted near 34-year lows after Federal Reserve officials reiterated interest rates are likely to stay higher for longer. Recent data suggested the U.S. economy was on a different track to that which the Fed had forecast, which led investors to cut their bets on future rate cuts. Risks of a broadening Middle East conflict added to the dollar's short-term appeal as a safe-haven asset. The U.S. and its allies planned fresh sanctions against Iran over its unprecedented attack on Israel, seeking to dissuade Israel from a major escalation as its war cabinet was set to meet again on Wednesday to decide a response. The dollar was slightly lower versus the euro at $1.0628 on Wednesday, not far from the five-and-half-month high of $1.06013 it touched on Tuesday. Against a basket of currencies, the dollar was last at 106.22, just shy of the five-month peak of 106.51 touched on Tuesday. The yen last hovered just below 154.79 per dollar, its weakest level in 34 years. Market participants raised the bar of a possible intervention by the Bank of Japan (BOJ) to prop up the Japanese currency, now mentioning the 155 level from previous 152, even if they believed the BOJ could step in at any time. Hedge funds have built up their biggest bet against the yen in 17 years, raising the prospect that when Japan's embattled currency does rebound, the short-covering rally could be a powerful one. The dollar's strength has cast a shadow across the currency market, with emerging markets in Asia scrambling to stem the decline in their currencies, with the prospect of rate cuts this year in the region swiftly evaporating.

#Dollar #FederalReserve #MiddleEast #InterestRates #SafehavenAsset #Sanctions #Iran #Israel #Euro #Yen #BankOfJapan #CurrencyMarket #EmergingMarkets #Asia

https://finance.yahoo.com/news/dollar-steady-yen-fragile-fed-014158036.html


UK inflation slows by less than expected to 3.2% in March
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British consumer price inflation slowed to 3.2% in March, down from 3.4% in February, according to the Office for National Statistics. The Bank of England and economists had forecast an annual rate of 3.1%. Core inflation, which excludes energy, food, and tobacco prices, also slowed to 4.2% from 4.5% in February. Services inflation eased slightly to 6.0% in March from 6.1% the previous month.

#UkInflation #ConsumerPriceInflation #OfficeForNationalStatistics #BankOfEngland #Economists #CoreInflation #ServicesInflation

https://finance.yahoo.com/news/uk-inflation-rate-slows-3-060335284.html


Japan records a trade deficit for the third straight fiscal year despite recovering exports
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Japan recorded a trade deficit of 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, marking the third straight fiscal year of deficit. The costs of energy and other imports rose, and the yen remained weak. The biggest trade deficits were in the Middle East, mainly Saudi Arabia and the United Arab Emirates, as well as Australia and Indonesia. Japan had a trade surplus with the U.S. and some European countries. Annual exports to China declined slightly, but the latest monthly data show exports to China recovering, growing 12% from the previous year. The recent decline in the value of the Japanese yen affected the trade balance, as it cost more in yen to import and boosted the value of exports when converted to yen. Data for the month of March showed Japan marked a trade surplus of 366.5 billion yen ($2.4 billion), as exports grew 7% from a year ago, while imports declined nearly 5%. Exports to the U.S. in March grew more than 8%. By product category, Japan imported food, while exporting autos, auto parts, and electrical machinery.

#Japan #TradeDeficit #Exports #Imports

https://finance.yahoo.com/news/japan-records-trade-deficit-third-030602981.html


Asian Stock Gauge Poised to Erase 2024 Gains as Worries Mount
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Asia’s stock benchmark is on track to erase all of its gains for the year as worries about higher interest rates and geopolitical tensions trigger losses across the region. The MSCI Asia Pacific Index fell as much as 0.4%, with consumer discretionary and industrials among the biggest drags. The measure was set to close below 169.39, the level reached on the last trading day of 2023, as Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates. The repricing of Fed rate bets, a stronger dollar, a flare-up in Middle East tensions, and a slow economic recovery in China are creating headwinds for the Asian gauge, which had gained more than 5% at one point in 2024. Stocks in mainland China and Hong Kong were also a drag on the regional benchmark Tuesday after mixed economic data that showed retail sales and industrial output fell short of estimates, while growth in gross domestic product exceeded estimates in the first quarter.

#StockMarket #Asia #MsciAsiaPacificIndex #InterestRates #GeopoliticalTensions #FederalReserve #JeromePowell #China #EconomicRecovery

https://finance.yahoo.com/news/asian-stock-gauge-poised-erase-004308040.html


Gold Holds Near Record as Traders Overlook Delayed Cuts Scenario
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Gold held near a record-high as investors weighed a shift in messaging from Federal Reserve chief Jerome Powell, who said the US central bank will likely keep rates on hold for longer than originally planned. The precious metal is up about 15% so far this year, driven by haven demand amid escalating geopolitical tensions. Despite a surge in Treasury yields and a stronger dollar, gold remains in a weeks-long uptrend. Long-standing supports, including robust buying by central banks and increased demand from Chinese consumers, are also underpinning prices. Spot gold was steady at $2,381.99 an ounce, close to its all-time high of $2,431.52 reached on Friday.

#Gold #FederalReserve #JeromePowell #HavenDemand #GeopoliticalTensions #TreasuryYields #Dollar #CentralBanks #ChineseConsumers

https://finance.yahoo.com/news/gold-holds-near-record-traders-003521442.html


EverWind Praises Federal Government’s Clean Energy Leadership
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EverWind Fuels, North America’s leading green fuels developer, praises the federal budget for its ongoing commitment to ensuring Canada maintains an edge in the global clean energy space. Key items in the budget include a retooled and extended Clean Fuels Fund, the Indigenous Loan Guarantee Program, and the introduction of the Clean Hydrogen Investment Tax Credit and the Clean Technology Manufacturing Investment Tax Credit. EverWind acknowledges the Mi'kmaq people as the caretakers of the land and is committed to working with them. EverWind is developing green hydrogen projects in Atlantic Canada and a green fuels project in Newfoundland & Labrador.

#CleanEnergy #Budget2024 #GreenFuels #Canada #CleanFuelsFund #IndigenousLoanGuaranteeProgram #CleanHydrogenInvestmentTaxCredit #CleanTechnologyManufacturingInvestmentTaxCredit #Mi'kmaq

https://finance.yahoo.com/news/everwind-praises-federal-government-clean-223000656.html


Smartmatic, One America News settle election defamation lawsuit
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Smartmatic has settled a defamation lawsuit against One America News (OAN) over false claims that the voting technology company rigged the 2020 U.S. presidential election. The terms of the settlement are confidential, but Smartmatic voluntarily dismissed its lawsuit against OAN. Smartmatic estimated that OAN's false claims caused significant damage to its business value. OAN is a right-wing television network that positioned itself to the right of Fox News and Newsmax. Smartmatic still has pending lawsuits against Fox News and Newsmax over their election coverage. The company is seeking $2.7 billion in damages from the Fox lawsuit. Last year, Dominion Voting Systems reached a $787.5 million settlement with Fox News over similar claims. OAN faced financial setbacks when Verizon and AT&T's DirecTV stopped carrying its programming. The case is Smartmatic USA Corp et al v Herring Networks Inc in the U.S. District Court, District of Columbia.

#Smartmatic #OneAmericaNews #Election #DefamationLawsuit

https://finance.yahoo.com/news/smartmatic-one-america-news-settle-185818715.html


Biden uses new speech to argue Trump's tax plans are a political liability
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Joe Biden argues that Donald Trump's tax plans would be politically toxic and a liability in the upcoming election. Biden claims that another round of tax cuts for the richest Americans and corporations would increase the federal deficit by $5 trillion over 10 years. He also states that these plans would worsen inflation and anger voters who believe that the wealthy and corporate America are not paying their fair share. Biden's campaign is linking tax policy with issues such as abortion and defending democracy, hoping to win over voters. However, it remains to be seen if voters will agree, as Biden still faces low approval ratings and is trailing Trump in key swing states. Trump's tax cuts, which expire in 2025, will be a major issue in the 2024 campaign. Biden plans to allow the tax cuts to expire for households earning over $400,000, while Trump wants to extend or make them permanent. The debate also includes corporate taxes, with Biden proposing to raise the statutory rate to 28% and Trump wanting to cut it to 15%. Biden's focus on taxes extends to the 2017 tax cuts and Trump's plans to repeal high-income tax provisions in the Affordable Care Act. Trump believes that his tax cuts and deregulation led to a strong economy and promises a return to those policies. He has also been fundraising from billionaires who support his tax approach. The outcome of the election will determine the future of tax policy in the United States.

#Biden #Trump #TaxPlans #PoliticalLiability #Election

https://finance.yahoo.com/news/biden-uses-new-speech-to-argue-trumps-tax-plans-are-a-political-liability-090053765.html


Stock market today: Dow leads markets higher as earnings roll in, Powell comments on inflation
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US stocks searched for direction on Tuesday as the Dow looked to snap a six-day losing streak. The Dow Jones Industrial Average (DJIA) edged higher in afternoon trading, climbing about 0.5%, or more than 150 points. Both the S&P 500 and tech-heavy Nasdaq Composite reversed earlier losses to rise about 0.3% and 0.5%, respectively. Yields jumped on the heels of Powell's comments with the 2-year note briefly touching above 5% — its highest level since November. The 10-year Treasury yield, which touched 2024 highs on Monday, climbed about 5 basis points to trade around 4.68%. Meanwhile, earnings reports flooded in before the bell. UnitedHealth shares added about 5% after the healthcare group beat quarterly profit estimates, even as it said it expects to take a $1.6 billion hit from a February cyberattack. Investors were also digesting more big bank results: Bank of America reported that first quarter profit dropped 18% year over year as a key revenue source weakened, while Morgan Stanley stock rose as it topped expectations. Elsewhere, BNY Mellon posted a loss while Johnson & Johnson reported a sizable losses on Monday as hot retail sales data fueled expectations that interest rates will stay higher for longer this year. Consensus is now for no interest rate cut until September as the strength of the economy gives reason for the Federal Reserve to take its time, though some believe politics could push policymakers to act earlier.

#StockMarket #DowJones #Earnings #Inflation

https://finance.yahoo.com/news/live/stock-market-today-dow-leads-markets-higher-as-earnings-roll-in-powell-comments-on-inflation-181845637.html


The Biden administration recruits 15 states to help enforce airline consumer laws
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The Biden administration is enlisting the help of officials in 15 states, including California, New York, and Illinois, to enforce consumer-protection laws covering airlines. The U.S. Department of Transportation will allow state attorney general offices to investigate complaints about airline service and refer cases to the Transportation Department for enforcement. The states will have access to the Transportation Department's consumer-complaint system and will be trained on federal consumer laws. The agreement aims to improve the Department's capacity to hold airlines accountable and protect passengers. Only two of the state officials who signed the agreement are Republicans, and the Department hopes to recruit more states. Congress has not yet granted states the power to enforce airline consumer-protection laws.

#BidenAdministration #AirlineConsumerLaws #ConsumerProtection #UsDepartmentOfTransportation #TransportationSecretaryPeteButtigieg #StateAttorneyGeneralOffices #FederalConsumerLaws #PassengerRights #Enforcement #Congress

https://finance.yahoo.com/news/biden-administration-recruits-15-states-170204605.html


Stock market today: Stocks wobble as earnings roll in
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US stocks searched for direction in afternoon trading on Tuesday as the Dow looked to snap a six-day losing streak. The Dow Jones Industrial Average (DJIA) edged higher, climbing about 0.5%, or more than 150 points. Both the S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) reversed earlier losses with the benchmark index trading mostly flat while the Nasdaq rose about 0.1%. Bond yields remain at multi-month highs, coupled with tensions in the Middle East following Iran's weekend attacks on Israel. After the 10-year Treasury yield touched 2024 highs on Monday, the yield climbed about 4 basis points to trade around 4.66% on Tuesday. Earnings reports flooded in before the bell. UnitedHealth shares added about 5% after the healthcare group beat quarterly profit estimates, even as it said it expects to take a $1.6 billion hit from a February cyberattack. Investors were also digesting more big bank results: Bank of America reported that first quarter profit dropped 18% year over year as a key revenue source weakened, while Morgan Stanley stock rose as it topped expectations. Elsewhere, BNY Mellon posted a profit beat while Johnson & Johnson reported a sizable losses. Trump Media & Technology Group, the parent company of Donald Trump's social media platform Truth Social, fell about 12% on Tuesday after the company announced it's launching a new live TV streaming platform. Stocks extended declines in mid-morning trading on Tuesday after markets initially eyed a broader comeback earlier in the session. New residential construction, including single-family and multifamily homes, tumbled by the largest amount in four years as rising mortgage rates weaken housing activity. Housing starts fell 14.7% month over month in March, dropping from a 1.55 million units annualized pace to 1.32 million units annualized. Shares of Live Nation, the parent company of Ticketmaster, fell about 7% early Tuesday after the Wall Street Journal reported the Department of Justice (DOJ) is preparing to file an antitrust lawsuit against the company as soon as next month. The Dow rose about 200 points on Tuesday as markets eyed a broader comeback to snap a six-day losing streak. BNY Mellon CEO Robin Vince commented on interest rates and markets, stating that geopolitical risks, high inflation, fiscal challenges, and the issuance of US Treasuries are factors affecting the path of interest rates. Starbucks shares fell 11.3% amid concerns of falling store traffic in the US. JPMorgan's strategy team warned of a potential market correction due to hot growth and inflation data, compounded by geopolitical developments and elevated investor positioning.

#StockMarket #Earnings #DowJones #S&p500 #NasdaqComposite #BondYields #MiddleEastTensions #Unitedhealth #BankOfAmerica #MorganStanley #BnyMellon #Johnson&Johnson #TrumpMedia&TechnologyGroup #HousingStarts #LiveNation #InterestRates #Starbucks #MarketCorrection

https://finance.yahoo.com/news/live/stock-market-today-stocks-wobble-as-earnings-roll-in-165336338.html


US homebuilding takes a step back; manufacturing turning the corner
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U.S. single-family homebuilding tumbled in March, with single-family housing starts dropping 12.4% to a seasonally adjusted annual rate of 1.022 million units. Permits for future construction of single-family houses fell to a five-month low. The housing recovery appears to be losing steam as home builder expectations of lower interest rates have faded. The average rate on the 30-year fixed-rate mortgage has drifted up towards 7%. Manufacturing, on the other hand, appears to be turning the corner, with production at factories increasing 0.5% in March.

#UsHomebuilding #Manufacturing #HousingMarket #InterestRates #MortgageRates #HousingStarts #Construction #Economy

https://finance.yahoo.com/news/us-single-family-housing-starts-124731843.html


Bill Gates Is Raking In Over $1.26 Million Per Day In Dividend Income. Here Are The 5 Stocks Paying Him The Most
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Bill Gates, the eighth richest person in the world, is expected to receive $463.2 million in dividend income this year. His investment strategy focuses on companies with strong dividend yields. The five stocks paying him the most are Canadian National Railway Co, Microsoft Corp, Waste Management Inc, Caterpillar Inc, and Deere & Co. These investments contribute over $413 million to Gates's annual dividend income, which amounts to $1,129,150.74 per day. It's important for individual investors to remember that replicating Gates's strategy may not align with their personal financial goals or risk tolerance.

#BillGates #DividendIncome #Stocks

https://finance.yahoo.com/news/bill-gates-raking-over-1-154351537.html


Portugal's far-right Chega vows legal action over 10-year Facebook curbs
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Portugal's far-right party Chega plans to take legal action against Meta Platforms' decision to restrict its Facebook account for 10 years. Chega, the third-largest political party in Portugal, had its account restricted for 3,649 days due to activity that 'disrespected our community standards'. The party will challenge the decision, claiming that Meta did not provide an opportunity to appeal. Chega's leader, Andre Ventura, called the decision 'unacceptable censorship' and urged supporters to show their indignation. Chega has a significant presence on social media, with 199,000 followers on Facebook and over 280,000 followers on TikTok.

#Portugal #Farright #Chega #Facebook #MetaPlatforms #LegalAction #Censorship

https://finance.yahoo.com/news/portugals-far-chega-vows-legal-150932125.html


Smaller US manufacturers warm to Biden's big industrial plan, survey shows
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A survey of 150 producers shows that nearly 49% believe President Joe Biden is more likely to bring about an American manufacturing renaissance, compared to just over 31% who gave that accolade to Republican candidate Donald Trump. About 15% favor an unnamed third-party candidate. Biden's industrial policy, aimed at boosting semiconductors, electric vehicles, green technologies, and other sectors, has not yet produced many manufacturing jobs. Randy Altschuler, CEO of Xometry, a Maryland-based company that provides digital sourcing services for industrial producers, said that federal investments have yet to filter down to smaller producers, but they will benefit further down the road as high-profile projects create demand for goods and services needed to complete and supply those factories. The political divide over industrial policy has narrowed in recent years, with some Republicans, like Senator Marco Rubio, advocating for a strong industrial policy while criticizing the Biden initiatives. However, the National Association of Manufacturers Political Action Committee has directed nearly three-quarters of its contributions to Republican candidates in this election cycle.

#UsManufacturing #BidenAdministration #IndustrialPolicy #Survey #Manufacturers #JoeBiden #DonaldTrump #RandyAltschuler #Xometry #Semiconductors #ElectricVehicles #GreenTechnologies #RepublicanParty #NationalAssociationOfManufacturers

https://finance.yahoo.com/news/smaller-us-manufacturers-warm-bidens-120200889.html


Stock market today: Dow futures jump over 200 points as earnings roll in
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Dow futures jumped over 200 points as earnings reports lifted the market. The Dow Jones Industrial Average (DJIA) futures gained 0.6%, while futures on the S&P 500 and Nasdaq 100 also revived. United Health beat profit estimates, Bank of America reported a drop in profit, and Morgan Stanley topped expectations. Bond yields continued to rise, reaching 2024 highs. Tensions in the Middle East between Israel and Iran are being closely watched. BNY Mellon's CEO discussed interest rates and markets, mentioning geopolitical risks, high inflation, fiscal challenges, and debt sustainability in the US. Starbucks' upcoming earnings report is expected to be impacted by falling store traffic and high prices. Market futures have been volatile, with investors hoping for a June interest rate cut.

#StockMarket #DowFutures #Earnings #InterestRates #Inflation #MiddleEastTensions

https://finance.yahoo.com/news/live/stock-market-today-dow-futures-jump-over-200-points-as-earnings-roll-in-114633862.html


Flexible morals: A key reason American voters support divisive misinformation
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New research from Rice Business and MIT Sloan finds that American voters hold opposing politicians to strict standards of factuality but support their favorite politicians as long as their statements express a “deeper truth” they support. The study suggests that partisan voters are both factually and morally flexible, allowing their favorite politicians to share misinformation that aligns with their grievances. The researchers conducted six online surveys of American voters, which showed that voters care more about truth when evaluating favored politicians but care more about facts when evaluating disfavored ones. The study highlights the importance of recognizing moral flexibility in political decision-making and behavior.

#AmericanVoters #Misinformation #MoralFlexibility #PoliticalDecisionmaking

https://finance.yahoo.com/news/flexible-morals-key-reason-american-110500071.html


Futures ease as bond yields stay elevated amid Middle East tensions
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U.S. stock index futures edged lower on Tuesday, weighed by elevated Treasury yields as investors remained wary of the conflict in the Middle East. The yield on the 10-year government bond last stood at 4.6468%. Several policymakers including Federal Reserve Chair Jerome Powell are slated to speak later in the day. San Francisco Fed President Mary Daly said there was "no urgency" to cut U.S. interest rates. Financial firms will be in the spotlight, with Bank of America, Morgan Stanley, and BNY Mellon scheduled to report their quarterly numbers before the opening bell. Tesla shed 2.1% in premarket trading after falling over 5% in the last session. At 5:38 a.m. ET, Dow e-minis were down 72 points, or 0.19%, S&P 500 e-minis were down 8.75 points, or 0.17%, and Nasdaq 100 e-minis were down 20.75 points, or 0.12%.

#StockMarket #BondYields #MiddleEastTensions #FederalReserve #BankOfAmerica #MorganStanley #BnyMellon #Tesla

https://finance.yahoo.com/news/futures-ease-bond-yields-stay-101332729.html


Morning Bid: Red hot retail readout drives US economy and dollar
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The red hot U.S. retail readout for March has underlined the sheer strength of the economic expansion there and is super-charging the dollar around the world. China's first-quarter GDP annual growth of 5.3% did surpass expectations but March industry and retail growth missed forecasts. The dollar's main index hit a five-month high on Tuesday and has now gained 4% in just six weeks. Monday's news of a surprise March U.S. retail sales surge saw economists revise up their first-quarter U.S. economic growth estimates to just under 3% annualised. With the International Monetary Fund's Spring meeting getting underway in Washington this week, Fed Chair Jerome Powell is due to speak on Tuesday - as is European Central Bank head Christine Lagarde and Bank of England governor Andrew Bailey. The IMF also releases its updated World Economic Outlook later on Tuesday and markets will keenly watch its forecasts for U.S. growth for this year and next. The upshot is a restive U.S. Treasury market, where 10-year Treasury yields hit 4.66% on Monday for the first time since November and held those gains today. With the first quarter U.S. corporate earnings season kicking into gear, stock market volatility is on the rise again too. The VIX 'fear index' hit its highest of the year on Tuesday too at 19.56 - coincidentally the average of the past 35 years since the index's inception. Bourses across Asia and Europe were down more than 1% on Tuesday too.

#UsEconomy #RetailSales #Dollar #EconomicGrowth #FederalReserve #InternationalMonetaryFund

https://finance.yahoo.com/news/morning-bid-red-hot-retail-100318414.html


Dollar Heads for Best Run in Year in Bet on Fed Delaying Cuts
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The dollar is on track for its best rally in over a year as investors bet on the Federal Reserve delaying interest rate cuts. The Bloomberg Dollar Spot Index has climbed for a fifth day, reaching its highest level since November. The rally was sparked by strong US retail sales data and reduced expectations for Fed rate cuts following high US inflation data. Traders are now pricing in a start to easing in September and a reduction of 42 basis points by year-end. This view diverges from other major central banks, such as the European Central Bank, which has signaled rate cuts in June.

#Dollar #FederalReserve #InterestRateCuts

https://finance.yahoo.com/news/dollar-heads-best-run-bet-093106775.html


Equities sink, oil rallies on fears of Iran-Israel conflict
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Stock markets fell and oil prices climbed on growing fears of a wider war in the Middle East after Israel's army chief vowed a response to Iran's attack on his country. Israeli army chief General Herzi Halevi warned that Iran's attack would be met with a response. The selling came after Wall Street's three main indexes tanked in response to forecast-beating US retail sales data. Traders were also digesting figures showing Chinese expansion easily beat expectations in the first three months of the year but retail and industrial data came in well below par. Oil prices rose in Asian trade, having slipped Monday on hopes for a de-escalation following US calls for Israeli Prime Minister Benjamin Netanyahu to "take the win" and forgo a counterattack. Hong Kong, Seoul, Taipei, and Manila were all down more than two percent, while Tokyo shed 1.9 percent. Shanghai, Sydney, Singapore, and Jakarta sank more than one percent each. London, Paris, and Frankfurt were all down more than one percent at the open. Investors appeared to ignore figures showing China's economy grew 5.3 percent in the first three months of the year, well above the 4.6 percent predicted in an AFP survey of analysts. Other data reinforced worries about the outlook, with industrial production and retail sales coming in well below forecasts. The losses in Asia followed a big sell-off on Wall Street, which was dragged down by tech giants including Amazon, Apple, and Alphabet. That came after figures showed March retail sales beat expectations in yet another indication that the US economy remains strong despite two-decade-high interest rates. Investors are now betting on just two reductions this year, compared with six penciled in at the beginning of January.

#Equities #Oil #Iran #Israel #StockMarkets #MiddleEast #UsRetailSales #InterestRates #China #TechGiants

https://finance.yahoo.com/news/equities-sink-oil-rallies-fears-034100301.html


12 Best Dividend Stocks with High Upside Potential
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This article discusses 12 best dividend stocks with high upside potential. The current state of the US economy is uncertain with many analysts gravitating toward the idea of a recession occurring this year. Dividend stocks offer reliability in uncertain market conditions. In 2022, dividend stocks experienced a relatively minor drop compared to the overall decline of the S&P 500. Dividend-paying companies achieved an annual average return of 9.17% from 1973 to 2023, compared to 4.27% for non-dividend payers. Dividend stocks have historically outperformed non-dividend stocks during inflationary periods. In 2023, companies in the US distributed record amounts in dividends. The article provides a list of 12 dividend stocks with high upside potential, including Yum China Holdings, International Game Technology, British American Tobacco, Brookfield Renewable Partners, Big 5 Sporting Goods, Jack in the Box, and Iridium Communications. The stocks are ranked based on their projected upside potential and the number of hedge funds holding stakes in each firm.

#DividendStocks #UsEconomy #Recession #MarketConditions #S&p500 #Inflation #DividendForecast #YumChinaHoldings #InternationalGameTechnology #BritishAmericanTobacco #BrookfieldRenewablePartners #Big5SportingGoods #JackInTheBox #IridiumCommunications

https://finance.yahoo.com/news/12-best-dividend-stocks-high-070216512.html


Morning Bid: Market mood stays sombre
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Rising tensions in the Middle East and the return of a higher-for-longer narrative on U.S. rates have sapped risk appetite, sending Asian stocks tumbling, the dollar climbing to five-month highs and leaving the fragile yen stuck at levels last seen in the mid 1990s. UK labour and wage data will likely hog the spotlight as traders parse through the reports to gauge when the Bank of England will start its rate cutting cycle. Markets are pricing in August as the most likely start date for policy easing, with 49 basis points of cuts expected for the year. The Federal Reserve on the other hand is likely to be in no rush to start its easing cycle after March retail sales came in higher than expected, the latest evidence of a resilient U.S. economy. Markets are now pricing in less than two rate cuts this year compared with six rate cuts anticipated at the start of 2024. The starting point for the easing cycle is now September, pushed back from June, which was pushed back from March. Comments from Fed officials have also led traders to dial back their expectations with San Francisco Federal Reserve Bank President Mary Daly the latest to suggest the Fed is in no hurry to cut rates. The safe-haven flight to gold and dollars continued as the world awaits word on how Prime Minister Benjamin Netanyahu would respond to Iran's first-ever direct attack. The yen, often sought as a safe asset, weakened further to 34-year lows as the widening difference between U.S. and Japan rates weigh. China GDP handily beat estimates but weakness in March data kept investors worried about the country's economic recovery. China will also be at the forefront of the corporate world's mind as LVMH, the world's biggest luxury group, reports earnings, with investors bracing for a steep slowdown in luxury sales amid lacklustre Chinese demand. Key developments that could influence markets on Tuesday: Economic events: UK employment change for Feb, UK average weekly earnings for 3 months through Feb. Earnings: LVMH, UnitedHealth, Johnson & Johnson, Bank of America and Morgan Stanley.

#MarketMood #MiddleEastTensions #UsRates #BankOfEngland #FederalReserve #Gold #Dollars #ChinaGdp #Lvmh

https://finance.yahoo.com/news/morning-bid-market-mood-stays-043240912.html


Weedkiller manufacturer seeks lawmakers' help to squelch claims it failed to warn about cancer
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Chemical giant Bayer is lobbying lawmakers in Iowa, Missouri, and Idaho to pass bills that would provide it with a legal shield from lawsuits claiming its weedkiller Roundup causes cancer. The bills, which have been introduced in the three states and have wording supplied by Bayer, would protect pesticide companies from claims that they failed to warn about cancer risks if their labels complied with the US Environmental Protection Agency's regulations. Critics argue that the legislation could have broader consequences and extend to any product liability claim. About 167,000 lawsuits have been filed against Bayer claiming that Roundup causes non-Hodgkin's lymphoma, and the company has paid about $10 billion in settlements and trials.

#Bayer #Roundup #Weedkiller #Cancer #Lawsuits #Legislation #ProductLiability #UsEnvironmentalProtectionAgency

https://finance.yahoo.com/news/weedkiller-manufacturer-seeks-lawmakers-help-040849755.html


US Fed should not act urgently when it's not required, Daly says
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San Francisco Federal Reserve Bank President Mary Daly stated that there is no urgency to cut U.S. interest rates, as the economy and labor market are strong, and inflation is still above the Fed's 2% target. Daly made these remarks at the Stanford Institute for Economic Policy Research. The Fed is expected to hold its policy rate steady in the 5.25%-5.5% range until mid-September and then cut rates twice before year-end. However, higher-than-expected inflation in the first quarter and strong consumer spending and labor market conditions have raised doubts about the need to ease policy. Daly emphasized the importance of being confident that inflation is headed toward 2% before considering easing policy.

#UsFederalReserve #InterestRates #Inflation #Economy

https://finance.yahoo.com/news/us-fed-not-act-urgently-005422721.html


Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis
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Saudi Arabia's foreign minister, Prince Faisal bin Farhan, led a high-level delegation on a two-day visit to Pakistan to discuss how to help with the country's economic crisis. The visit comes after Prime Minister Shehbaz Sharif met with Crown Prince Mohammed bin Salman in Saudi Arabia, where it was announced that Saudi Arabia would invest $5 billion in Pakistan. Last year, Saudi Arabia deposited $2 billion into Pakistan's central bank to boost its foreign exchange reserves. Pakistan is also in talks with the International Monetary Fund for a new bailout.

#SaudiArabia #Pakistan #EconomicCrisis #ForeignMinister #Investment #Bailout

https://finance.yahoo.com/news/saudi-foreign-minister-arrives-pakistan-153137517.html


US awards Samsung $6.4 billion in grants to boost Texas chip output
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The Biden administration will award up to $6.4 billion in grants to Samsung to expand its chip production in central Texas. The funding will support two chip production facilities, a research center, and a packaging facility in Taylor, Texas. It will also enable Samsung to expand its Austin, Texas, semiconductor facility. The goal is to boost chip output for the aerospace, defense, and auto industries, reduce reliance on China and Taiwan, and bolster national security. Samsung expects to begin production in 2026 and is expected to invest roughly $45 billion in building and expanding its Texas facilities through the end of the decade.

#UsChipProduction #Samsung #Grants #Texas

https://finance.yahoo.com/news/us-award-samsung-6-4-090115702.html


Stock market today: S&P 500 falls back under 5,100 as Big Tech leads stock slide
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US stocks flipped to sizable losses Monday as bond yields rose and investors focused on the fallout of Iran's attack on Israel and the continuation of corporate earnings season. The S&P 500 slid below back below the 5,100 level to close down 1.2%. Its two-day, 2.6% drop is the most significant in over a year. The Dow Jones Industrial Average lost 0.7%. The Nasdaq Composite fell 1.8% as Big Tech stocks led the declines. All three averages erased earlier session gains. The 10-year Treasury yield touched 2024 highs to hover around 4.63% as traders scaled back bets on the depth of Fed interest rate cuts this year. Stocks have come under pressure in recent days as earnings season got off to a lackluster start and concerns persisted that inflation has stalled in cooling to the Federal Reserve's 2% target. Earlier in the session, investors shrugged off initial concerns of a full-blown war in the Middle East after Iran's direct missile and drone strike on Israel on Saturday. Efforts by the US to encourage Israel not to retaliate appeared to help settle nerves, in part because the well-telegraphed attack allowed damage to be contained. Goldman Sachs highlighted the corporate earnings docket Monday, getting big banks back on track. Shares for the Wall Street lender added more than 3% after first quarter profit jumped to beat estimates. Meanwhile, Tesla shares fell over 5% after the electric vehicle maker reduced staff amid a broader EV growth slowdown.

#StockMarket #S&p500 #BigTech #BondYields #Iran'sAttackOnIsrael #CorporateEarningsSeason

https://finance.yahoo.com/news/live/stock-market-today-sp-500-falls-back-under-5100-as-big-tech-leads-stock-slide-200056673.html


Oil sheds 1% after Iran attack, US economic data
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Oil prices fell by about 1% a barrel after Iran's attack on Israel proved to be less damaging than anticipated. Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, while U.S. crude futures for May delivery fell 87 cents to $84.79 per barrel, also a 1% loss. Israel's interception of Iran's attack eased concerns of a quickly intensifying conflict that could displace crude barrels. Strong U.S. retail sales data from the Commerce Department also hindered oil prices by increasing the likelihood of higher interest rates and reducing demand for oil. Iran's statement that it considers its retaliation to be over further lowered the geopolitical temperature. The attack caused only modest damage, with missiles shot down by Israel's Iron Dome defense system. Middle East hostilities have had little tangible impact on oil supply so far.

#OilPrices #IranAttack #UsEconomicData

https://finance.yahoo.com/news/oil-prices-fall-iran-attack-010718741.html


ME Therapeutics Holdings Inc. Announces Ringing of CSE Opening Bell on April 17, 2024
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ME Therapeutics Holdings Inc., a preclinical stage biotechnology company, will ring the opening bell for the Canadian Securities Exchange on April 17, 2024. The company is focused on developing novel cancer fighting drugs in the field of immuno-oncology. The CEO, Salim Dhanji, stated that ringing the bell marks the next stage of growth for the company as they advance in the discovery and development of potential new drug candidates to fight cancer. ME Therapeutics aims to overcome the suppressive effects of myeloid cells, a class of immune cells, in order to enhance anti-cancer immunity.

#MeTherapeuticsHoldingsInc #Biotechnology #Cancer #Immunooncology #OpeningBell #CanadianSecuritiesExchange

https://finance.yahoo.com/news/therapeutics-holdings-inc-announces-ringing-151000118.html


Yacktman Focused Fund Adjusts Portfolio, Cuts Stake in Associated British Foods PLC
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Yacktman Focused Fund, known for its objective and patient investment approach, has disclosed its first-quarter portfolio for 2024. The Fund initiated a position in Kellanova Co, purchasing 300,000 shares. The Fund also increased its stake in Kenvue Inc, adding 216,255 shares. The Fund exited its position in Weatherford International PLC, selling off 350,000 shares. The Fund reduced its positions in Associated British Foods PLC and Brenntag SE. As of the first quarter of 2024, Yacktman Focused Fund's portfolio comprised 49 stocks, with top holdings including Samsung Electronics Co Ltd, Bollore SE, Canadian Natural Resources Ltd, Microsoft Corp, and Alphabet Inc. The investments are primarily concentrated across nine industries: Communication Services, Technology, Consumer Defensive, Energy, Industrials, Consumer Cyclical, Financial Services, Basic Materials, and Healthcare.

#YacktmanFocusedFund #AssociatedBritishFoodsPlc #InvestmentPortfolio #Stocks

https://finance.yahoo.com/news/yacktman-focused-fund-adjusts-portfolio-150155165.html


Top Wall St brokerages start Reddit coverage with doubts over user growth
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Top Wall Street brokerages, including Goldman Sachs, J.P.Morgan, and Morgan Stanley, have started coverage of Reddit with doubts over its user growth. Goldman Sachs and J.P.Morgan gave a 'neutral' rating with price targets of $40 and $47, respectively, while Morgan Stanley had an 'equal-weight' rating with a $45 price target. Reddit shares were last trading at $40.66. J.P.Morgan analysts estimate that Reddit's daily active unique users (DAUq) will reach 109 million by 2026, but this lags behind peers like Facebook and Elon Musk's X. The brokerages are bullish on Reddit's ad revenue and its use of artificial intelligence (AI) but believe the company needs to prove it can scale over time. Deutsche Bank, Raymond James, Needham, Piper Sandler, and Roth MKM were the most bullish on the stock, with Needham having the highest price target of $55. Reddit's popularity surged during the 'meme-stock' saga of 2021, but concerns have been raised about the company's profitability.

#Reddit #WallStreet #Brokerages #UserGrowth #AdRevenue #ArtificialIntelligence

https://finance.yahoo.com/news/wall-street-brokerages-start-reddit-113850943.html


Goldman Sachs stock jumps on better-than-expected Q1 earnings
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Shares of Goldman Sachs are trading higher on Monday following the company's first quarter earnings report, beating expectations on both the top and bottom lines. Revenue came in at $14.21 billion against analyst estimates of $12.98 billion. Additionally, the company's adjusted earnings per share (EPS) reached $11.58, surpassing the expected $8.81 per share. Goldman Sachs also reported a 28% year-over-year increase in net income for the quarter, further buoying the stock price.

#GoldmanSachs #Q1Earnings

https://finance.yahoo.com/video/goldman-sachs-stock-jumps-better-144650601.html


What’s Next for Oil? Analysts Weigh In After Iran’s Attack
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Oil futures were barely moved by Iran’s attack on Israel. Citigroup predicts oil prices could trade up to $100/bbl depending on the nature of events. Goldman Sachs estimates that oil prices already reflect a $5-to-$10-a-barrel risk premium from downside risks to supply. Societe Generale says the risk of direct military action between the US and Iran has risen to 15% probability. United Overseas Bank believes prices will climb toward $100 a barrel or higher if Iran’s crude production comes under threat. The International Crisis Group suggests that Israel may not have the option to not respond to Iran's attack. SVB Energy believes the market should maintain its balance if the recent attacks do not cause damage to oil production and export facilities. ING Groep says the market had already priced in some form of attack, and the key uncertainty is how Israel responds. RBC Capital Markets says the response from Israel will determine whether the situation leads to a wider war. The International Energy Agency warns of heightened oil security risks and increased volatility in oil markets. ANZ Banking Group believes any further escalation is unlikely given the well-telegraphed attack. Again Capital says the oil market can breathe a sigh of relief, at least for now. A/S Global Risk Management suggests that stricter sanctions on Iran are likely, but a closure of the Strait of Hormuz seems unlikely.

#Oil #Iran #Israel #CrudeOilPrices #GeopoliticalRisk

https://finance.yahoo.com/news/next-crude-oil-analysts-weigh-030858469.html


Analysis-Dollar's rally supercharged by diverging US rate outlook
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The U.S. dollar index is up 4.6% this year and stands near its highest levels since early November. Market participants grow convinced the Fed will need to leave interest rates at current levels for longer to avoid a potential resurgence of inflation. Investors late Friday were pricing in just 50 basis points of interest rate cuts in 2024, compared to 150 basis points priced in at the start of the year. Some global central banks could have a freer hand to ease monetary policy, including the European Central Bank, the Bank of Canada, and Sweden's Riksbank. Yield differentials between the U.S. and other economies have widened, contributing to the greenback’s rally. Bullish investors have increased their bets on the dollar, while bears have wavered. Central bank policy has diverged, reflecting economies' varying struggles to contain inflation. The dollar could continue appreciating broadly on the back of a more hawkish Fed relative to the ECB. A stronger dollar could complicate the inflation fight for other economies as it pushes down their currencies. Dollar strength can also be a headwind for U.S. multinationals as it makes it more expensive to convert their foreign profits into dollars. The U.S. currency is a popular destination for investors during times of geopolitical uncertainty. The dollar may receive a boost from the Fed allowing assets to run off its balance sheet. Some analysts believe the dollar has more room to run, while others are less certain.

#UsDollar #FederalReserve #InterestRates #Inflation #CentralBanks #MonetaryPolicy #YieldDifferentials #Investors #GeopoliticalUncertainty

https://finance.yahoo.com/news/analysis-dollars-rally-supercharged-diverging-050535065.html