Economic Sector Performance Dashboards - Yahoo Finance
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Big names in Big Tech such as Apple (AAPL) and Amazon (AMZN) reported their latest quarterly results with Apple beating expectations on the top and bottom lines while Amazon missed revenue expectations but beat profit expectations. Both reports give insight into the state of the consumer domestically and abroad which is still under pressure from inflation. Maxim Group Managing Director and Senior Consumer Internet Analyst Tom Forte joined to discuss Apple's earnings and give insight into its performance in China. The major indexes closed lower as Wall Street digests hotter-than-expected jobless claims data and a soft US manufacturing print. Coinbase (COIN) posted second quarter earnings, reporting revenue that more than doubled from a year ago. Transactional revenue for the company did jump 138%, however, it missed the 141% Wall Street expectation. Fintech companies are also in the spotlight as major players such as Block (SQ) and MicroStrategy (MSTR) report their quarterly earnings. Both companies fell short on revenue expectations. Shares of Roku (ROKU) are moving higher in after-hours trading on Thursday after the company reported its second quarter earnings, beating expectations for revenue, benefiting from strong ad sales. In addition, the company's guidance for the third quarter were in-line with Wall Street estimates. Shares of Twilio (TWLO) are jumping after the company reported its second quarter earnings, beating analyst expectations for both the top and bottom lines. In addition, the company's third quarter guidance for adjusted earnings per share came in higher than expected. DraftKings (DKNG) stock is moving slightly lower after it reported second quarter earnings with a revenue of $1.10 billion, up 26% year-over-year, but slightly missed expectations. DoorDash (DASH) shares are jumping in after reporting a better-than-expected Q3 outlook. For the third quarter, DoorDash sees adjusted EBITDA of $470 million to $540 million far above the Street's $449.2 million estimate. For the second quarter, the company reported an adjusted loss of $0.38 per share and revenue of $2.63 billion, which was better than the estimated $2.54 billion. Apple reported better-than-anticipated earnings on Thursday, despite a decline in iPhone sales. Stocks tumbled Thursday after a run of weak economic data and another sell-off in chip stocks weighed on some of the names leading the hot AI trade. Google Cloud is giving Y Combinator startups access to a dedicated, subsidized cluster of Nvidia graphics processing units and Google tensor processing units to build AI models. US Secretary of Transportation Pete Buttigieg discussed the Biden administration's new consumer protections for airlines customers, also weighing in on Boeing's (BA) CEO changeup. Wingstop (WING) reported second quarter earnings that exceeded expectations on both revenue and profit. Amazon reported second quarter earnings after the bell on Thursday. DoorDash (DASH) shares are jumping in after reporting a better-than-expected Q3 outlook. For the third quarter, DoorDash sees adjusted EBITDA of $470 million to $540 million far above the Street's $449.2 million estimate. For the second quarter, the company reported an adjusted loss of $0.38 per share and revenue of $2.63 billion, which was better than the estimated $2.54 billion. Apple reported better-than-anticipated earnings on Thursday, despite a decline in iPhone sales. Stocks tumbled Thursday after a run of weak economic data and another sell-off in chip stocks weighed on some of the names leading the hot AI trade. Google Cloud is giving Y Combinator startups access to a dedicated, subsidized cluster of Nvidia graphics processing units and Google tensor processing units to build AI models. The chip sector reverses course from gains seen earlier this week. Will this trend continue or will chip stocks rebound even higher? Volkswagen (VWAGY, VOW3.DE) reported mixed second quarter earnings, missing out on profit expectations which fell year-over-year. Wingstop (WING) reported second quarter earnings that exceeded expectations on both revenue and profit. Moderna's (MRNA) stock is under pressure Thursday morning, falling by up to 20% after reporting mixed second quarter results. Meta shares climbed higher in trading Thursday after the company reported better-than-expected second quarter earnings Wednesday. Volkswagen Group reported mixed results and a downbeat forecast, reflecting some of the deeper challenges facing large multinational automakers. As the summer travel season continues, major companies like hotel chain Marriott International (MAR) and Norwegian Cruise Line (NCLH) are presenting a mixed picture of consumer travel trends. Cavco Industries, Inc. (Nasdaq: CVCO) today announced financial results for the first fiscal quarter ended June 29, 2024. The Hershey Company (HSY) is lowering its full-year outlook after missing second quarter earnings estimates. Roblox (RBLX) stock edges lower despite positive second quarter results and raising its projections for annual bookings. Lastly, shares of fast-casual chain Shake Shack(SHAK) skyrocket on its full-year guidance and second quarter earnings results. Pharmaceutical giant Moderna's (MRNA) stock is under pressure Thursday morning, falling by up to 20% after reporting mixed second quarter results. Meta shares climbed higher in trading Thursday after the company reported better-than-expected second quarter earnings Wednesday. Volkswagen Group reported mixed results and a downbeat forecast, reflecting some of the deeper challenges facing large multinational automakers. Wingstop (WING) reported second quarter earnings that exceeded expectations on both revenue and profit. DoorDash (DASH) shares are jumping in after reporting a better-than-expected Q3 outlook. Apple reported better-than-anticipated earnings on Thursday, despite a decline in iPhone sales. Stocks tumbled Thursday after a run of weak economic data and another sell-off in chip stocks weighed on some of the names leading the hot AI trade. Google Cloud is giving Y Combinator startups access to a dedicated, subsidized cluster of Nvidia graphics processing units and Google tensor processing units to build AI models. The chip sector reverses course from gains seen earlier this week. Will this trend continue or will chip stocks rebound even higher? Volkswagen Group reported mixed results and a downbeat forecast, reflecting some of the deeper challenges facing large multinational automakers. As the summer travel season continues, major companies like hotel chain Marriott International (MAR) and Norwegian Cruise Line (NCLH) are presenting a mixed picture of consumer travel trends. Cavco Industries, Inc. (Nasdaq: CVCO) today announced financial results for the first fiscal quarter ended June 29, 2024. The Hershey Company (HSY) is lowering its full-year outlook after missing second quarter earnings estimates. Roblox (RBLX) stock edges lower despite positive second quarter results and raising its projections for annual bookings. Lastly, shares of fast-casual chain Shake Shack(SHAK) skyrocket on its full-year guidance and second quarter earnings results. Pharmaceutical giant Moderna's (MRNA) stock is under pressure Thursday morning, falling by up to 20% after reporting mixed second quarter results. Meta shares climbed higher in trading Thursday after the company reported better-than-expected second quarter earnings Wednesday. Volkswagen Group reported mixed results and a downbeat forecast, reflecting some of the deeper challenges facing large multinational automakers. Wingstop (WING) reported second quarter earnings that exceeded expectations on both revenue and profit. DoorDash (DASH) shares are jumping in after reporting a better-than-expected Q3 outlook. Apple reported better-than-anticipated earnings on Thursday, despite a decline in iPhone sales. Stocks tumbled Thursday after a run of weak economic data and another sell-off in chip stocks weighed on some of the names leading the hot AI trade. Google Cloud is giving Y Combinator startups access to a dedicated, subsidized cluster of Nvidia graphics processing units and Google tensor processing units to build AI models. The chip sector reverses course from gains seen earlier this week. Will this trend continue or will chip stocks rebound even higher? Volkswagen Group reported mixed results and a downbeat forecast, reflecting some of the deeper challenges facing large multinational automakers. As the summer travel season continues, major companies like hotel chain Marriott International (MAR) and Norwegian Cruise Line (NCLH) are presenting a mixed picture of consumer travel trends. Cavco Industries, Inc. (Nasdaq: CVCO) today announced financial results for the first fiscal quarter ended June 29, 2024. The Hershey Company (HSY) is lowering its full-year outlook after missing second quarter earnings estimates. Roblox (RBLX) stock edges lower despite positive second quarter results and raising its projections for annual bookings. Lastly, shares of fast-casual chain Shake Shack(SHAK) skyrocket on its full-year guidance and second quarter earnings results.

https://finance.yahoo.com/sectors/


The global market outlook on China chip restrictions
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Chip stocks are beginning to fall Wednesday as a report from Bloomberg outlines the Biden administration's plans for stricter trade regulations on chip exports to China. Former President Donald Trump made comments in an interview with Bloomberg suggesting Taiwan should pay for US security. Principal Asset Management chief global strategist Seema Shah believes that the US economy will benefit the most from global economic tightening, while the rest of the world will struggle. Shah also highlights India and Japan as countries that are outside of the spotlight and can do well in this trade tariff environment. The chip sector is under pressure due to the potential crackdown on chip makers who ship to China. Shah advises investors to consider diversification and look for other parts of the market that are less expensively valued. The small-cap sector has seen a rotation in recent trading sessions, driven by factors such as valuation, geopolitical tensions, and rate cuts. Shah believes it is still early to determine if this rotation will be sustained. She recommends having exposure to large-cap companies and considering international markets outside of the US. In terms of global economic growth, Shah points out that the US would benefit the most from increased tariffs, while India and Japan are less exposed. She also mentions that a weaker dollar would be good news for emerging markets. Overall, Shah advises investors to focus on high-quality, high-liquidity companies and to consider diversifying their portfolios internationally.

https://finance.yahoo.com/video/global-market-outlook-china-chip-143532161.html


Long Beach Economic Partnership Announces Inaugural Participation at SelectUSA Investment Summit
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The Long Beach Economic Partnership (LBEP) made its debut at the SelectUSA Investment Summit in Washington, D.C. The summit, led by the U.S. Department of Commerce, is dedicated to promoting foreign direct investment and has facilitated over $200 billion in investment and the creation/retention of over 200,000 U.S. jobs. The Long Beach delegation included LBEP President/CEO Leah Goold-Haws, City of Long Beach Economic Development Department Executive Director Bo Martinez, and World Trade Center Long Beach Executive Director Felipe Cusnir. The summit aimed to facilitate the export of Long Beach goods and services to countries in Asia, Latin America, Africa, and the European Union, and showcased the city's investment climate and competitive standing. Key connections were made with companies looking to establish their U.S. headquarters, enter the U.S. market, and operate in Southern California.

#LongBeachEconomicPartnership #SelectusaInvestmentSummit #ForeignDirectInvestment #WashingtonDc #Export #Investment #EconomicDevelopment

https://finance.yahoo.com/news/long-beach-economic-partnership-announces-132400003.html


Retail sales come in better than expected in June
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Retail sales in June were flat, defying Wall Street's prediction of a decline. Economists had expected a 0.3% decline in spending. However, retail sales in May were revised higher to an increase of 0.3%. June sales, excluding auto and gas, increased by 0.8%, above consensus estimates for a 0.2% increase. The control group, which factors into the Gross Domestic Product reading for the quarter, increased 0.9% in June, above estimates for a 0.2% increase. Nonstore retailers led the gains, rising 1.9%, while gasoline stations saw a 3% decline and motor vehicle and parts dealers saw a 2% decline. The update on consumer spending comes amid a cooling but still growing US economy. The latest data, combined with better-than-expected readings on inflation, have prompted markets to widely expect the Fed's first interest rate cut by the end of its September meeting. Federal Reserve chair Jerome Powell declined to specify when the Fed may start its easing cycle.

#RetailSales #UsEconomy #ConsumerSpending #FederalReserve #InterestRateCut

https://finance.yahoo.com/news/retail-sales-come-in-better-than-expected-in-june-123446812.html


June retail sales preview: What to expect
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Wall Street is eyeing the release of June retail sales data, which will provide an update on the state of the US economy. Economists predict a 0.2% drop in retail sales excluding autos, while retail sales including autos are predicted to rise 0.1%. Some American consumers are feeling stretched, with signs of financial challenges and prioritizing essentials over discretionary items. However, there is still spending at the upper end of the income distribution, especially on services. The impact of inflation and higher borrowing costs varies across different types of consumers. The University of Michigan survey of consumers showed a slip in consumer sentiment and concerns about high inflation. The future readings will reveal the effects of inflation and higher rates on retail sales. The release of the June retail sales report will provide important insights into the American consumer and the state of the economy.

#JuneRetailSales #UsEconomy #AmericanConsumer #Inflation #BorrowingCosts

https://finance.yahoo.com/video/june-retail-sales-preview-expect-164025975.html


JPMorgan Comes First in Wall Street’s Bank Bond Sales Spree
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JPMorgan Chase & Co. became the first of Wall Street’s six biggest banks to tap the US investment-grade bond market after reporting second-quarter earnings. The bank is selling bonds in as many as four parts, with the longest portion of the offering, an 11-year security, expected to yield 1.35 percentage point above Treasuries. Wells Fargo & Co., Citigroup Inc., and Goldman Sachs Group Inc. have also posted earnings and are potential candidates to sell debt. Bank of America Corp. and Morgan Stanley are scheduled to report on Tuesday. The top banks are expected to borrow more than usual after posting earnings to take advantage of falling yields and get ahead of upcoming US elections. JPMorgan credit analyst Kabir Caprihan expects $21 billion to $24 billion of issuance from the six biggest domestic banks, while Barclays Plc is calling for about $30 billion of sales from the set in the third quarter. The funding backdrop is attractive for bank issuers, with risk premiums on investment-grade bonds narrowing and the overall cost to sell debt falling to the lowest in five months.

#Jpmorgan #WallStreet #BankBondSales #InvestmentgradeBondMarket #Earnings #DebtMarket #Yields #UsElections #RiskPremiums #InvestmentgradeBonds

https://finance.yahoo.com/news/jpmorgan-comes-first-wall-street-153034316.html


Dollar Gains and Treasuries Slump on Trump Bets: Markets Wrap
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The dollar advanced and Treasuries fell as investors ratcheted up wagers that Donald Trump would win the US presidential election after an assassination attempt. The greenback strengthened against all other Group-of-10 currencies, the Mexican peso slipped and Bitcoin touched its highest in nearly two weeks. The yield on 10-year Treasuries climbed six basis points to 4.24%. European equity futures traded lower, while S&P 500 contracts pointed to a higher US open. Stocks slipped Asia, with Chinese stocks in Hong Kong extending losses after data showed weakening momentum in the world’s second-largest economy.

#Dollar #Treasuries #Trump #Markets #Investors #PresidentialElection #AssassinationAttempt #Greenback #Groupof10Currencies #MexicanPeso #Bitcoin #Yield #10yearTreasuries #EquityFutures #S&p500Contracts #Stocks #ChineseStocks #HongKong #WeakeningMomentum #Economy

https://finance.yahoo.com/news/us-futures-waver-traders-juggle-221846138.html


7 Lessons From the Gen Z Invasion of Costco and Sam’s Club
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Gen Z is playing an important role as some of these major retailers and grocers’ most influential shoppers. Membership for people aged 27 and under has increased by over 60% for Sam’s Club in the last two years. Gen Zers seem to love a good deal and gravitate more toward lower per-unit food costs than previous generations. Items bought in bulk at Costco or Sam’s Club are often split up amongst roommates, friends or family members. Splitting memberships is not allowed, but you can work off a master list and have others Venmo you later. Gen Z shoppers split the cost of membership, focus on the price per unit, prioritize quality, leverage membership benefits, prioritize sustainability, get influenced by social media, and utilize in-store vs. online shopping options. The Gen Z invasion of Costco and Sam’s Club has brought a fresh perspective to wholesale and bulk shopping, emphasizing a blend of digital savviness, value-consciousness, and cost-effective considerations.

#GenZ #Costco #Sam'sClub #WholesaleShopping #BulkShopping

https://finance.yahoo.com/news/7-lessons-gen-z-invasion-210020085.html


Trump-victory trades to swell after shooting, investors say
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Investors predict that trades betting on Donald Trump's victory in the 2024 election will increase after the shooting incident at his campaign rally in Pennsylvania. The shooting, treated as an assassination attempt, raises Trump's odds of winning back the White House. Before the incident, markets had reacted to the prospect of a Trump presidency by pushing the dollar higher and positioning for a steeper U.S. Treasury yield curve. Investors expect a more hawkish trade policy, less regulation, looser climate change regulations, and an extension of corporate and personal tax cuts under Trump. Stock prices have been rising, with the S&P 500 and Dow Jones Industrial Average hitting record highs. CEO confidence, consumer sentiment, and small business optimism have historically shifted more favorably in response to Republican victories. World leaders and U.S. politicians condemned the shooting, while some industry executives, including Elon Musk, declared their support for Trump.

#DonaldTrump #2024Election #ShootingIncident #Investors #Trades #MarketReaction #UsTreasuryYieldCurve #HawkishTradePolicy #TaxCuts #StockPrices #CeoConfidence #ConsumerSentiment #SmallBusinessOptimism #ElonMusk

https://finance.yahoo.com/news/trump-victory-trades-swell-shooting-074048986.html


Chinese tech companies face increased EU compliance costs amid bloc's new AI rules
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Chinese tech companies are expected to face increased compliance costs in the European Union (EU) due to the implementation of the EU's new Artificial Intelligence Act on August 1. The Act aims to protect fundamental rights, democracy, and the environment from high-risk AI while promoting innovation. Chinese AI firms anticipate spending more time and money to comply with the new rules, potentially hindering innovation. Compliance and assessment requirements are projected to increase research and development (R&D) and testing costs for some companies by 20-40%. The EU's AI Act establishes obligations based on the potential risks and impact of the technology, including prohibited practices, high-risk systems, transparency obligations, governance, post-market monitoring, and market surveillance. Non-compliance can result in fines of up to €35 million or 7% of the offending firm's total worldwide annual turnover. The Act also focuses on the quality, relevance, and representativeness of training data. Chinese regulations, on the other hand, emphasize adherence to socialist values and avoiding content that could harm political and social stability. The EU's AI rules are seen as a blueprint for other governments, and some jurisdictions in Asia are considering similar regulations.

#ChineseTechCompanies #EuComplianceCosts #AiRules #ArtificialIntelligenceAct #Innovation #R&d #TestingCosts #ProhibitedPractices #HighriskSystems #TransparencyObligations #Governance #PostmarketMonitoring #MarketSurveillance #Fines #TrainingData #SocialistValues #PoliticalStability #SocialStability #Asiapacific #HarmonyAndConsistency #CrossmarketRules

https://finance.yahoo.com/news/chinese-tech-companies-face-increased-093000150.html


CRH plc (CRH): Why Is It Among the Best Industrial Stocks to Buy Now?
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CRH plc (NYSE:CRH) is listed among the top 10 industrial stocks to buy according to hedge funds. Industrial stocks in the US encompass sectors like manufacturing, transportation, aerospace, defense, and construction. The performance of industrial stocks is closely tied to the overall health of the economy. Recently, industrial stocks have shown resilience amid global supply chain disruptions and economic uncertainty, thanks to technological advancements and diversified service offerings. CRH plc specializes in providing building materials solutions globally and operates through four main segments. In Q1 2024, the number of hedge funds with stakes in CRH plc increased to 75 from 65 in the previous quarter. The combined value of these stakes is approximately $7.92 billion. CRH plc stands to benefit from concentrating its operations exclusively in North America. The company is a significant beneficiary of the exceptional growth in US infrastructure spending. CRH plc ranks 5th on the list of best industrial stocks to buy according to hedge funds.

#CrhPlc #IndustrialStocks #HedgeFunds #Investment

https://finance.yahoo.com/news/crh-plc-crh-why-among-213712825.html


Factbox-US banking execs weigh macroeconomic risks, Fed's interest rate path
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Executives from top U.S. banks remain divided over the U.S. Federal Reserve's future path on interest rate cuts and flag deterioration in consumer health. JPMorgan Chase CEO Jamie Dimon warns of potential tail risks, including a changing geopolitical situation. Wells Fargo CEO Charlie Scharf acknowledges the slowing economy and continued headwinds from inflation and interest rates. Citigroup CEO Jane Fraser notes softening labor market and tightening consumer budgets. The banks also highlight stress on consumers with lower credit scores. The challenge for the Fed is finding the best timing for rate changes to cushion against potential softness in the future.

#UsBanking #FederalReserve #InterestRates #Economy

https://finance.yahoo.com/news/factbox-us-banking-execs-weigh-172651075.html


CGL Announces Key Promotions and New Service Lines to Enhance Justice Services Operations
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CGL Companies (CGL) has announced organizational changes to enhance its Justice Services operations. The changes include the introduction of a new Deputy Director of Justice Services position and two new service lines: Program Management and Design Services. J. Richard Davidson has been promoted to Deputy Director of Justice Services, Ed Whatley to Director of Program Management, and Tamara Clarke to Director of Design Services. CGL's Program Management approach ensures cost-effective justice facility projects, while Design Services provide a client-centered approach to ensure projects meet the highest standards. CGL is a leading justice consulting and facility maintenance firm with a global presence.

#CglCompanies #JusticeServices #Promotions #ServiceLines #OrganizationalChanges

https://finance.yahoo.com/news/cgl-announces-key-promotions-lines-175100574.html


Stock market today: US stocks hold near records as Powell buoys rate-cut hopes
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US stocks held near all-time highs on Wednesday as Jerome Powell's remarks to the Senate and House buoyed rate-cut hopes. The S&P 500 rose roughly 0.5% in mid-afternoon trading after coming off a 36th record close for the benchmark. The Dow Jones Industrial Average jumped 0.4% following a sluggish start to the morning, while the tech-heavy Nasdaq Composite edged more than 0.6% higher. Bets on interest rate cuts have helped stocks eke out fresh all-time highs as signs of slowing in the US economy pile up. In his semiannual testimony to Congress, Powell hinted the stage is almost set for lowering interest rates from two-decade highs, pointing to a cooling in inflation and in the jobs market. But a key test for stocks and rate-cut prospects still lies ahead in the crucial consumer inflation report due Thursday. Meanwhile, TSMC shares popped after the Taiwanese chipmaker's second quarter sales grew at their fastest pace since 2022, thanks to the AI boom. In other corporate news, Microsoft and Apple dropped plans to take observer board seats at OpenAI as antitrust scrutiny heats up.

#UsStocks #RatecutHopes #JeromePowell #S&p500 #DowJonesIndustrialAverage #NasdaqComposite #InterestRateCuts #UsEconomy #Inflation #JobsMarket #ConsumerInflationReport #Tsmc #Microsoft #Apple #Openai #AntitrustScrutiny

https://finance.yahoo.com/news/live/stock-market-today-us-stocks-hold-near-records-as-powell-buoys-rate-cut-hopes-133104537.html


Nearly Three-Quarters of US Back-to-School Consumers Will Shop In-Store, According to Sensormatic Solutions Annual Survey
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According to Sensormatic Solutions Annual Survey, 74% of US back-to-school consumers plan to shop in-store, with 43% utilizing 'buy online, pick up in-store' (BOPIS) and 25% using curbside pickup. The survey also reveals that 18% of shoppers plan to start shopping in June, but August is expected to be the busiest month for back-to-school shopping. Safety and comfort in-store, price, and sustainability are key factors for back-to-school shoppers. 34% of respondents plan to spend significantly less due to the state of the US economy. 83% of respondents consider sustainability in their purchasing decisions, with 45% using reusable shopping bags and 41% choosing products with sustainable packaging. Sensormatic Solutions advises retailers to use data-driven technologies to understand customer behavior and adjust their strategies accordingly.

#Backtoschool #Shopping #Instore #Bopis #CurbsidePickup #Safety #Comfort #Price #Sustainability #UsEconomy #Retailers #DatadrivenTechnologies

https://finance.yahoo.com/news/nearly-three-quarters-us-back-133300783.html


Stock market today: S&P 500, Nasdaq build on record highs as Powell testimony keeps rate cut hopes alive
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The S&P 500 and Nasdaq closed at new record highs as rate cut hopes remained intact after Federal Reserve chair Jerome Powell's testimony to Congress. The S&P 500 finished just above the flatline to book its 36th record close of the year, while the Nasdaq Composite also built on its previous record. Traders still placed bets that the Fed will cut interest rates twice this year. Powell will appear before the House on Wednesday, setting the stage for a key update on consumer inflation on Thursday. However, there is caution in the market as some analysts predict a summer pullback and a 10% correction.

#StockMarket #S&p500 #Nasdaq #RateCut #JeromePowell #RecordHighs

https://finance.yahoo.com/news/live/stock-market-today-sp-500-nasdaq-build-on-record-highs-as-powell-testimony-keeps-rate-cut-hopes-alive-200102072.html


S&P 500 and Nasdaq notch record highs as Nvidia gains
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The S&P 500 and Nasdaq closed at record highs on Tuesday, driven by gains in Nvidia following comments from Federal Reserve Chair Jerome Powell about the potential for rate cuts. Nvidia's stock rose 2.5%, offsetting declines in other chip stocks. Microsoft dipped 1.4%, while Tesla gained 3.7%. Powell stated that more positive economic data would strengthen the case for rate cuts, but he did not provide any signals about the timing of future actions. The Nasdaq achieved its sixth consecutive record-high close, while the S&P 500 achieved its fifth. The market remains optimistic about the growth of artificial intelligence (AI) in the U.S. corporate landscape. Inflation data is expected later in the week, and the three major banks, JPMorgan, Wells Fargo, and Citi, will release their quarterly results on Friday. Analysts predict a 10.1% increase in aggregate earnings per share for S&P 500 companies in the second quarter.

#S&p500 #Nasdaq #RecordHighs #Nvidia #FederalReserve #RateCuts #ArtificialIntelligence #Inflation #Jpmorgan #WellsFargo #Citi

https://finance.yahoo.com/news/futures-higher-megacaps-chip-stocks-102658228.html


Offshore Wind Power: A New Era of Energy
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The U.S. offshore wind sector is strengthening the American economy and providing energy independence. Offshore wind projects are creating jobs, enhancing the grid, and improving air quality. The American Clean Power Association (ACP) is leading the clean energy industry in the U.S. with over 800 companies. Frank J. Macchiarola, Chief Policy Officer at ACP, conducted a media tour discussing the momentum of the offshore wind sector, job creation, economic benefits, and environmental advantages. The sector has more than 35 projects under development, with three major projects in active construction. Offshore wind is expected to create 56,000 jobs in the U.S. by 2030 and has committed $3 billion of supply chain investments. The development of more than 40 American-made vessels is underway. The media tour highlights the contributions and potential of the offshore wind sector in transforming the U.S. energy landscape.

#OffshoreWindPower #CleanEnergy #AmericanCleanPowerAssociation #JobCreation #EconomicBenefits #EnvironmentalBenefits #EnergyIndependence

https://finance.yahoo.com/news/offshore-wind-power-era-energy-183800657.html


Asian shares track Wall Street higher, markets hope for dovish stance from Powell
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Asian shares tracked Wall Street higher on Tuesday as markets hoped the U.S. Federal Reserve Chair Jerome Powell would sound dovish about easing prospects later in the day. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% to just a touch below a two-year top hit on Monday. Japan's Nikkei jumped 1% to a fresh record high. S&P 500 futures gained 0.2% and Nasdaq futures firmed 0.3%, after Wall Street equities inched higher to close at record highs overnight. Fed Chair Powell is set to appear before Congress on Tuesday and Wednesday, as investors wagered a slew of soft labour market data has greatly increased the chance of a rate cut in September to about 80%. The main economic event this week will be the U.S. consumer price report on Thursday, where headline inflation for June is expected to slow to 3.1%, from 3.3% in May, with the core steady at 3.4%. In the foreign exchange markets, the U.S. dollar steadied near four-week lows at 104.98 against a basket of currencies, offering some respite to the battered yen and yuan. Treasuries were steady, having ended Monday mixed. Ten-year government bond yield held at 4.2764%, having slipped for four straight sessions, while two-years were flat at 4.6243%, nearing a three-month low. In commodity markets, gold rose 0.2% to $2,363.31 an ounce, having fallen 1.4% overnight. Oil prices were little changed after a hurricane that hit a key U.S. oil producing hub in Texas caused less damage than expected.

#AsianShares #WallStreet #JeromePowell #FederalReserve #DovishStance

https://finance.yahoo.com/news/asian-shares-track-wall-street-021507219.html


US job growth slows moderately; unemployment ticks up
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The U.S. job market remains strong, but is loosening up. The economy added 206,000 jobs in June, higher than expected. However, the unemployment rate ticked up to 4.1%, the highest in over 2-1/2 years, due to more people entering the workforce. Wage gains moderated, indicating easing inflation pressures. Job growth for April and May was revised downward. The U.S. economy has added an average of about 220,000 jobs per month over the past year. Economists say at least 150,000 jobs per month are needed to keep up with growth in the working-age population. Financial markets expect the Federal Reserve to start cutting rates in September.

#UsJobMarket #Unemployment #WageGains #FederalReserve

https://finance.yahoo.com/video/us-job-growth-slows-moderately-155755695.html


Global Stocks Hit Peak Level Before US Jobs Data: Markets Wrap
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Global equities were set to hold onto record highs achieved Thursday as traders turned their attention to US jobs data due Friday for clues on Federal Reserve rate cuts. Tokyo’s Topix index touched another record, before slipping. The moves followed gains for European shares, led by French equities. US stock futures were little changed in Asia after markets were closed Thursday for a holiday. A gauge of global stocks was on track for its longest stretch of weekly gains since March. Emerging market equities also benefited as the MSCI Emerging Markets Index rose to the highest level in two years on Thursday. An index of dollar strength steadied Friday after falling for a third day as developing-world currencies were broadly higher, led by the Brazilian real. The pound was little changed after a run of strengthening that began last week, as investors digested the prospect of a Labour Party victory in Thursday’s general election. Exit polling data showed Keir Starmer’s Labour Party is projected to win with a huge majority, as Rishi Sunak’s governing Conservatives were on track for their worst-ever performance and would likely see some of the party’s biggest names voted out of Parliament. France’s CAC 40 benchmark index advanced for a second day in the buildup to this weekend’s final round of voting in snap parliamentary elections. The gauge extended gains as polls suggested Marine Le Pen’s National Rally and its allies will fall well short of a majority. In Asia, Australian and New Zealand yields were little changed early Friday. The yen was also steady after slightly strengthening in a rebound from the lowest level since 1986 reached on Wednesday. Data releases in the region Friday include inflation for the Philippines, Thailand and Taiwan. Reports on Wednesday showed the American services sector contracted at the fastest pace in four years, while the labor market saw further signs of softening before Friday’s key jobs figures. West Texas Intermediate, the US oil price, edged higher early Friday. Bitcoin slipped to trade around $57,800.

#GlobalStocks #UsJobsData #FederalReserve #RateCuts

https://finance.yahoo.com/news/asian-equities-tread-water-us-221926837.html


Oil falls on concerns of weaker demand forecasts, slowing U.S. economy
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Oil prices fell in Asia on Thursday, with investors turning cautious on expectations of lower demand as U.S. employment and business data came in weaker than forecast, signalling the economy of the world's top oil consumer may be cooling. Brent crude futures were down 48 cents, or 0.55%, at $86.86 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 51 cents, or 0.62%, to $83.36 by 0342 GMT. Physical markets are trading post-summer September cargoes when demand could soften partly due to hurricane risks. U.S. crude shipments bound for Europe fell to a two-year low in June as European buyers bought cheaper regional and West African oil. Weaker economic data may add to the Federal Reserve's arguments to start cutting rates, analysts said, a move that would be supportive for the oil markets as lower rates could boost demand. U.S. crude and fuel stockpiles all fell by more than expected in the week ending June 28, the Energy Information Administration said on Wednesday.

#OilPrices #DemandForecasts #UsEconomy #BrentCrudeFutures #WtiCrudeFutures #FederalReserve #EnergyInformationAdministration

https://finance.yahoo.com/news/oil-prices-slip-data-points-003723011.html


Will Fed rate cut be 'reactive or proactive'?
==========

The June ISM manufacturing data fell short of expectations, reigniting speculation about a potential Federal Reserve rate cut. BCA Research chief US equity strategist Irene Tunkel anticipates the first cut could come by the end of the year, partly due to "political uncertainty." However, Tunkel emphasizes that the crucial factor is whether the Fed's rate cut is "reactive or proactive." Tunkel believes that if the Fed cuts rates in response to clear signs of a recession, it may not help equity markets. On the other hand, if the Fed cuts rates proactively while the economy is still strong but slowing gently, it could prolong the strong performance of the market. Tunkel also notes that the longer-term trajectory of interest rates and the perception of the market about it will matter. She suggests that the current market rally, driven by a few stocks, is getting tired and it may be time to take profits.

#FederalReserve #InterestRates #RateCut #Economy #EquityMarkets

https://finance.yahoo.com/video/fed-rate-cut-reactive-proactive-151424850.html


Novo Nordisk A/S - share repurchase programme
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Novo Nordisk A/S has initiated a share repurchase programme in accordance with regulations. The programme, which began on May 6, 2024, is part of an overall share repurchase programme of up to DKK 20 billion to be executed over a 12-month period starting on February 6, 2024. Under the current programme, Novo Nordisk will repurchase B shares for an amount up to DKK 2.2 billion between May 7, 2024, and August 5, 2024. As of June 28, 2024, Novo Nordisk has repurchased a total of 10,061,625 B shares at an average share price of DKK 873.45 per B share, equal to a transaction value of DKK 8,788,370,170. Novo Nordisk currently owns a total of 11,427,189 B shares as treasury shares, corresponding to 0.3% of the share capital. The company expects to repurchase B shares for an amount up to DKK 20 billion during the 12-month period. Novo Nordisk is a global healthcare company founded in 1923 and headquartered in Denmark. It employs about 66,000 people in 80 countries and markets its products in around 170 countries.

#NovoNordisk #ShareRepurchase #Regulations #BShares #TreasuryShares #Healthcare

https://finance.yahoo.com/news/novo-nordisk-share-repurchase-programme-131900091.html


The State with the Most National Historic Landmarks in the US
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New York has the most national historical landmarks in the USA, totaling 275. The state has 6.07 historic landmarks per 1000 square miles. These landmarks represent a rich history including wars, colonial times, heritage, and architecture. One of the most famous NHLs in New York is the Statue of Liberty, also known as Liberty Enlightening the World. The statue symbolizes freedom and democratic values. New York is also among the states with the most Medal of Honor recipients, at 672.

#NationalHistoricLandmarks #NewYork #Usa

https://finance.yahoo.com/news/state-most-national-historic-landmarks-214555107.html


Biden and Trump spar on economy in first presidential debate
==========

President Joe Biden and former President Donald Trump faced off in their first presidential debate of the 2024 general election season. The debate focused on the economy, with topics including inflation, job creation, national debt, Social Security, black unemployment, and the climate crisis. Trump claimed that Biden inherited a perfect economy and blamed corporate greed for inflation, while Biden blamed Trump for ballooning the national debt. They discussed different approaches to address Social Security, with Biden proposing a wealth tax and Trump suggesting tariffs. They also debated the state of black unemployment and the climate crisis. Other topics discussed include abortion, immigration, geopolitics, and the January 6th attacks. The debate included testy exchanges and a strange argument about golf skills. The next scheduled debate is set for September 10th.

#Biden #Trump #Economy #PresidentialDebate

https://finance.yahoo.com/video/biden-trump-spar-economy-first-061429993.html


The Most Technologically Advanced City in the US
==========

The United States is a leader in technological advancement, with trends such as Augmented Reality (AR), Artificial Intelligence (AI), and Blockchain gaining popularity. The tech industry is valued at approximately $ trillion and contributes over 10% to the country’s GDP as of 2024. The tech industry is the second-largest industry in the U.S., with 56% of its market comprised of hardware, software, and services. The U.S. was home to 557,000 tech firms and 13,400 startups as of 2019. San Francisco, CA is ranked as the most technologically advanced city in the US, with a score of 4. It is home to influential companies such as Salesforce and Udemy, and is located near Silicon Valley, the epicenter of tech innovation. The San Francisco Bay Area is the top market for tech talent, with the largest tech labor market employing 378,870 workers. Other technologically advanced cities in the US include Seattle, WA; Austin, TX; Boston, MA; and New York, NY.

#Technology #Us #Cities #SanFrancisco #SiliconValley

https://finance.yahoo.com/news/most-technologically-advanced-city-us-020636959.html


16 Nobel Prize-winning economists say Trump policies will fuel inflation
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Sixteen Nobel prize-winning economists signed a letter warning that the U.S. and world economy will suffer if Donald Trump wins the U.S. presidential election. They state that Joe Biden's economic agenda is vastly superior to Trump's. Trump's economic plans, including stiffer tariffs on Chinese imports, would reignite inflation and hike prices on goods bought by U.S. consumers. The letter was signed by economists including Joseph Stiglitz and Sir Angus Deaton. Trump's campaign did not respond to a request for comment. Biden's campaign spokesperson called Trump's economic agenda dangerous.

#Trump #Biden #Economists #Inflation #Tariffs

https://finance.yahoo.com/news/16-nobel-prize-winning-economists-215749577.html


"Venture into Storm Center - 2024 WikiEXPO Tokyo Special Summit" Successfully Concluded
==========

The high-profile "Venture into Storm Center- 2024 WikiEXPO Tokyo Special Summit" concluded in Nihonbashi, Tokyo, Japan on June 22nd. The summit, organized by WikiGlobal, featured discussions on topics such as "Forex Market Forecast for the Second Half of 2024" and "The Path to Successful Forex Trading." Experts shared insights on the potential changes in the value of the Japanese yen and how it affects Japan's global market competitiveness. The summit also included a special networking session for participants to interact with industry-leading experts and establish connections.

#Wikiexpo #Tokyo #Summit #ForexMarket #JapaneseYen

https://finance.yahoo.com/news/venture-storm-center-2024-wikiexpo-224000830.html


The Country that Drinks that Most Alcohol per Capita in 2024
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Romania is the country that drinks the most alcohol per capita in 2024, with a per capita consumption of 27.3 liters of pure alcohol in 2019. The most consumed alcoholic beverage in Romania is beer. The market for spirited drinks in Romania has reached around $800 million. The economic costs of harm due to alcohol amount to $1,306 per adult or 2.6% of the global GDP. Anheuser-Busch InBev SA/NV has launched its Global Smart Drinking Goals initiative to reduce the harmful use of alcohol globally and ensure that low- or no-alcohol beer products make up at least 20% of its global beer volume by 2025. Anheuser-Busch InBev had a global production volume of 585 million hectoliters in 2023 and a revenue of $59.38 billion. Men in Romania consume an average of 8.2 drinks per day. The psychiatrist Dan Prelipceanu highlights the significant social costs of alcohol consumption in Romania, including medical complications, premature deaths, and domestic violence.

#AlcoholConsumption #Romania #AnheuserbuschInbev #Beer #EconomicCosts

https://finance.yahoo.com/news/country-drinks-most-alcohol-per-184334968.html


Stock market today: Stocks wobble as Nvidia, AI rally shows signs of fatigue
==========

US stocks mostly wavered below the flatline Friday as a tech-led rally showed real signs of fatigue for the first time in over a week. The benchmark S&P 500 lost around 0.1%, while the tech-heavy Nasdaq Composite fell by 0.2%. The Dow Jones Industrial Average rose close to 0.2%. The AI-fueled rally has been driven by Nvidia, which briefly catapulted to the title of world's most valuable company this week. After a sizable loss on Thursday, it was down more than 2% in morning trading Friday. Other chip stocks, including Broadcom, Super Micro Computer, and Qualcomm, slumped with Nvidia in the early going. Investors are also assessing the broader health of the US economy and the path for interest rates. Former St. Louis Fed president James Bullard, an inflation hawk, suggested that last week's cool Consumer Price Index reading could pave the way for a rate cut in September. Around two-thirds of traders still expect rate cuts to begin then, according to the CME FedWatch tool. On the macroeconomic front, an initial read on US economic activity from S&P Global is due out Friday morning.

#StockMarket #Nvidia #AiRally #Fatigue

https://finance.yahoo.com/news/live/stock-market-today-stocks-wobble-as-nvidia-ai-rally-shows-signs-of-fatigue-133059888.html


German Investor Confidence Increases Less Than Anticipated
==========

Investor confidence in Germany’s economy improved less than anticipated, with the ZEW institute's expectations gauge rising to 47.5 in June from 47.1 in May, falling short of the forecasted 50. A measure of current conditions fell slightly. The manufacturing sector has been a weak spot in the German economy, and there are indications that the moderate recovery is coming to an end. The Bundesbank forecasts the German economy to slowly gain momentum in 2024, with real GDP increasing by 0.3% this year and growth accelerating to 1.1% in 2025 and 1.4% in 2026. However, some economists argue that a renewed phase of stagnation is imminent. Industry data in April suggested a poor start to the second quarter.

#GermanEconomy #InvestorConfidence #ManufacturingSector #EconomicRecovery

https://finance.yahoo.com/news/german-investor-confidence-increases-less-091132947.html


The Most Liberal State in the US
==========

Massachusetts is considered the most liberal state in the US, with 35% of its population identifying as liberal and only 21% as conservative. The state has liberal policies on abortion rights and strict gun control laws. It is known for its robust social safety net, including universal healthcare coverage. Both US Senators from Massachusetts are Democrats. Companies like Amazon, Nike, and Google are known for their liberalism. Amazon supports LGBTQ+ rights and has made significant investments in the US. Nike has consistently given a majority of its political donations to Republicans. Google has been perceived as a liberal-leaning company based on its employees' political contributions. The methodology for ranking the most liberal states is based on liberal-to-conservative ratios. Massachusetts tops the list with a ratio of 1.60. For more details on the most liberal states in the US, refer to the full report.

#Liberalism #Massachusetts #UsPolitics #Companies #Amazon #Nike #Google

https://finance.yahoo.com/news/most-liberal-state-us-162333024.html


Stocks Fall on US Economic Data and Europe Angst: Markets Wrap
==========

The stock market is ending the week on a sour note after a disappointing US economic data and worries that a political crisis in France is deepening. US consumer sentiment unexpectedly fell to a seven-month low. French shares lost roughly $200 billion in market capitalization following President Emmanuel Macron’s decision to call a snap election. The nation’s bonds were at the heart of the rout, with the premium that investors demand to own 10-year debt over safer German peers heading for the biggest weekly surge on record. Traders shunned risk assets. The S&P 500 dropped to around 5,410. The Stoxx Europe 600 fell almost 1%. Treasury 10-year yields declined five basis points to 4.20%. The dollar headed toward its highest since November. The euro is the worst-performing major currency this week against the greenback. Transactions of more than $1 million among the dollar-denominated bonds of major French banks have proliferated in recent days. Tesla Inc. investors re-approved Elon Musk’s compensation and cleared the company moving its legal home to Texas. Adobe Inc. projected strong future sales for its creative products. Furniture retailer RH reported a heavier-than-expected first-quarter loss.

#StockMarket #UsEconomicData #Europe #France #UsConsumerSentiment #Bonds #RiskAssets #S&p500 #StoxxEurope600 #TreasuryYields #Dollar #Euro #Tesla #Adobe #Rh

https://finance.yahoo.com/news/asian-stocks-set-fall-yen-223414813.html


Healthcare Spending Will Account for Almost 20% of US Economy by 2032: CMS
==========

U.S. healthcare spending is projected to grow to nearly one-fifth of gross domestic product (GDP) by 2032, according to a report by the Centers for Medicare and Medicaid Services (CMS). The report states that healthcare spending is expected to grow at an average rate of 5.6% per year from 2023 to 2032, outpacing expected nominal economic growth of 4.3% per year. In 2023, healthcare spending increased by 7.5% annually, reaching a total of $4.8 trillion. Medicare spending rose by 8.4% in 2023, topping $1 trillion, and is projected to climb 6.1% in 2024. Medicaid spending grew by 5.7% in 2023, while private health insurance spending is projected to have risen 11.1%. Hospital spending is projected to have increased by 10.1% in 2023. The report also highlights that insurance coverage is expected to remain above 90% through 2032, with Medicaid enrollment projected to drop by 10.2 million in 2024.

#UsEconomy #HealthcareSpending #Cms #Medicare #Medicaid #InsuranceCoverage

https://finance.yahoo.com/news/healthcare-spending-account-almost-20-232746519.html


Oil edges up as OPEC sees relatively strong growth in 2024 oil demand
==========

Oil prices edged slightly higher as OPEC maintained its forecast for relatively strong growth in global oil demand in 2024. Brent crude futures rose 0.6% to $82.11 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.6% to $78.15. OPEC and allies agreed to extend deep oil output cuts into 2025. The World Bank lifted its 2024 global growth outlook slightly, but warned that overall output would remain below pre-pandemic levels through 2026. The release of U.S. consumer prices data for May and the conclusion of the Federal Reserve's policy meeting are scheduled for Wednesday. Traders are cautious ahead of the release of macroeconomic data from China on Wednesday, as China's inflation data could impact oil prices. Saudi crude exports to China fell for a third straight month. U.S. crude oil stockpiles were expected to have fallen by 1.8 million barrels in the week to June 7.

#Oil #Opec #GlobalDemand #BrentCrude #WestTexasIntermediate #OutputCuts #WorldBank #FederalReserve #UsConsumerPrices #China #SaudiCrudeExports #UsCrudeOilStockpiles

https://finance.yahoo.com/news/oil-prices-extend-rally-potential-005920418.html


Global Peace Index reveals highest number of countries engaged in conflict since Second World War
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The 18th edition of the Global Peace Index (GPI) reveals that 97 countries deteriorated in peacefulness, the highest number since the inception of the index in 2008. Conflicts in [unknown location] were the primary drivers of the global fall in peacefulness, with battle deaths reaching 162,000 in 2023. The GPI also found that 92 countries are currently involved in conflicts beyond their borders, the highest number since the index began. The global economic impact of violence increased to $19.1 trillion in 2023, representing 13.5% of global GDP. Militarisation recorded its largest yearly deterioration, with 108 countries becoming more militarised. There are currently 56 conflicts, the most since World War II, and they have become more international with 92 countries involved in conflicts outside their borders. Last year recorded 162,000 conflict-related deaths, the second-highest toll in the past 30 years. The global economic impact of violence in 2023 was $19.1 trillion, or $2,380 per person. Iceland remains the most peaceful country, followed by Ireland. [Unknown location] is the least peaceful country. The Middle East and North Africa (MENA) is the least peaceful region, home to four of the ten least peaceful countries. The UAE recorded the largest improvement in peacefulness in the region. The number of conflicts resulting in a decisive victory has fallen from 49% in the 1970s to less than 9% in the 2010s. The impact of asymmetric warfare technology has made it easier for non-state groups and smaller states to compete in conflicts. The number of states using drones rose from 16 to 40 between 2018 and 2023, while the number of non-state groups using drones rose from 6 to 91. The conflict between [unknown location] and [unknown location] has caused a deterioration in peacefulness, with Israeli media stories showing negative sentiment towards Palestinians increasing to 92% in early 2023. The conflict has also affected the entire [unknown location] region, with economic consequences and a high risk of open warfare. Militarisation has increased in 91 countries since the start of the [unknown location] war. The US has substantially higher military capability than [unknown location], followed by [unknown location]. Sub-Saharan Africa is now the second least peaceful region, facing increasing political unrest and terrorism. [Unknown location] remains the second most peaceful region, while [unknown location] recorded the worst deterioration in the region. [Unknown location] experienced a minor decline in peacefulness, while [unknown location] recorded the world's most significant peace improvement. The full Global Peace Index 2024 report can be accessed at visionofhumanity.org and economicsandpeace.org.

https://finance.yahoo.com/news/global-peace-index-reveals-highest-040000332.html


Euro Falls After Elections, Japanese Shares Rise: Markets Wrap
==========

The euro fell to its weakest in nearly a month after French President Emmanuel Macron and German Chancellor Olaf Scholz suffered defeats in the European Parliament elections. Japanese shares opened higher thanks to robust economic data. Japan’s Topix rose 0.5% after data on Monday showed the country’s economy contracted less than initially estimated in the first quarter. The yield on 10-year Treasuries advanced after surging Friday, when a solid US jobs report spurred a rethink on Federal Reserve interest-rate cuts and eased concern about an economic slowdown. Upcoming data highlights this week include UK wage numbers, China inflation, and US consumer and producer price figures. Economists at Citigroup Inc. and JPMorgan Chase & Co. changed their calls for a Fed cut in July after the jobs report. Citi’s Andrew Hollenhorst now sees cuts in September, November, and December. JPMorgan’s Michael Feroli predicts a Fed reduction in November. Investors may glean more on the Fed’s resolve to ease monetary policy when US policymakers update their forecasts for interest rates Wednesday. Some key events this week include the FOMC decision, quarterly summary of economic projections, and Fed Chair Jerome Powell’s press conference on Wednesday, and the Japan rate decision on Friday.

#Euro #JapaneseShares #EuropeanParliamentElections #EconomicData #FederalReserve #InterestRates

https://finance.yahoo.com/news/euro-falls-elections-us-stock-222715246.html


Why Gen Z may be skewing the employment data
==========

The US added 272,000 jobs in May, higher than the estimated 180,000. The unemployment rate rose to 4.0%, but average hourly earnings increased more than expected. Deutsche Bank Securities Senior US Economist Brett Ryan believes the Federal Reserve won't cut rates until December based on these data. Ryan points out that the household survey shows a decline in employment for 20 to 24-year-olds, which may be skewing the data. The household survey is also affected by volatility and the impact of immigration. The establishment survey, which provides the nonfarm payrolls number, is more likely to capture the impact of immigration. The employment growth rate for prime age workers is positive, supporting continued consumer spending. The Fed's decision to cut rates will depend on the inflation story.

#EmploymentData #FederalReserve #GenZ #UnemploymentRate #AverageHourlyEarnings #HouseholdSurvey #EstablishmentSurvey #BrettRyan

https://finance.yahoo.com/video/why-gen-z-may-skewing-110002442.html


MEDIA ADVISORY - HOUSING ANNOUNCEMENT IN LAVAL
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Members of the media are invited to join Annie Koutrakis, Parliamentary Secretary to the Minister of Tourism and Minister responsible for the Economic Development Agency of the Regions of Quebec and Member of Parliament for Laval-des-Rapides, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, Céline Haytayan, Temporary Chair and MNA for Laval-des-Rapides, on behalf of Élaine Duranceau, Minister responsible for Housing, and Sandra El-Helou, City councillor and councillor responsible for the status of women at Ville de Laval, for a housing announcement in Laval, QC. Journalists, photographers, and cameramen are required to register at adjointe@baaf.ca. The event will take place on June 8, 2024, at 12:30 pm ET.

https://finance.yahoo.com/news/r-e-p-e-t-110000888.html


Stock market today: Stocks waver after jobs report smashes expectations
==========

US stocks wobbled on Friday after a jobs report showed stronger hiring growth than expected. The S&P 500 rose 0.1% and the Dow Jones Industrial Average gained 0.2%, while the tech-heavy Nasdaq Composite remained in the red. The highly anticipated May jobs report revealed that the US economy added 272,000 jobs, surpassing expectations. However, the unemployment rate ticked higher to 4.0%. GameStop shares closed 47% higher on Thursday but dropped sharply after the company announced a stock sale. Keith Gill, also known as 'Roaring Kitty,' held a livestream on YouTube, his first appearance since helping ignite the meme stock rally. The stock market turned green in afternoon trading, recovering from earlier losses. The jobs report is seen as a 'Rorschach blot' with mixed interpretations, with optimists seeing solid payroll growth and pessimists focusing on the uptick in unemployment. Stocks trending in morning trading included GameStop, DocuSign, Lyft, and Vail Resorts. The May jobs report put a dent in the narrative of an imminent interest rate cut by the Federal Reserve. Robinhood's stock price has risen 27% in the last 30 days, and the company recently acquired crypto exchange Bitstamp. The market still anticipates rate cuts for 2024, as central banks globally move towards easing monetary policy.

#StockMarket #JobsReport #InterestRates #Gamestop #RoaringKitty #Livestream #UnemploymentRate #RorschachBlot #Robinhood #RateCuts

https://finance.yahoo.com/news/live/stock-market-today-stocks-waver-after-jobs-report-smashes-expectations-133119777.html


May jobs reports signals Fed's soft landing: US Labor Secretary
==========

The US added 272,000 jobs in May, with the unemployment rate at or below 4% for 30 months, indicating a solid economic recovery. Acting Labor Secretary Julie Su believes these figures signal a 'soft landing' for the Federal Reserve. The job growth has been broad-based across sectors, including healthcare, government, professional services, construction, and leisure and hospitality. Su also highlights the record-high women's participation in the workforce, which demonstrates an equitable recovery. She emphasizes the need for affordable and reliable childcare to further boost women's labor force participation. Su does not see any impact on the labor force from President Biden's new executive order on the border. Overall, Su believes the numbers indicate a strong and steady economic recovery.

#UsJobsReport #FederalReserve #LaborMarket #EconomicRecovery

https://finance.yahoo.com/video/may-jobs-reports-signals-feds-143205970.html


Reasons to Invest in Ryanair Holdings plc (RYAAY)
==========

Artisan Value Income Fund added Ryanair Holdings plc (NASDAQ:RYAAY) to its portfolio in Q1 2024. Ryanair is an Ireland-based low-cost airline focused on the European market. The airline's low-cost, high on-time, high-efficiency model has helped it to take share from inefficient legacy and state-sponsored carriers over the past 20 years. Ryanair keeps a net cash balance sheet to opportunistically purchase aircraft countercyclically when it can do so at cheaper prices. The company's economics are favorable, with pricing power due to industry consolidation, capacity growth below demand growth, and a lack of overlap on key routes, leading to strong returns on equity and margins. Ryanair recently initiated its first dividend policy, with an estimated dividend yield of 2%-3%. The stock sells at an attractive low-double-digit P/E. The fund believes that continued execution of the business should lead to solid returns.

#RyanairHoldingsPlc #Ryaay #ArtisanValueIncomeFund #LowcostAirline #EuropeanMarket #Dividend #Stock

https://finance.yahoo.com/news/reasons-invest-ryanair-holdings-plc-061446155.html


What Makes Alliant Energy Corporation (LNT) a Good Investment Bet?
==========

Alliant Energy Corporation (NASDAQ:LNT) is a utility holding company that provides regulated electricity and natural gas services. In Q1 2024, the Artisan Value Income Fund added Alliant Energy and Evergy to its portfolio. The interest rate environment and higher inflation have made utilities out of favor, but the fund sees opportunity in the sector. Alliant Energy Corporation's one-month return was -1.03%, and its shares lost 4.30% of their value over the last 52 weeks. The stock closed at $51.11 per share on June 5, 2024, with a market capitalization of $13.12 billion. The fund's Investor Class APFWX, Advisor Class APDWX, and Institutional Class APHWX returned 4.87%, 4.87%, and 4.98% respectively in Q1 2024, compared to a 10.56% return for the S&P 500 Index. Alliant Energy Corporation is not on the list of 31 Most Popular Stocks Among Hedge Funds. The company reported first-quarter 2024 earnings of $0.62 per share. The fund believes that AI stocks hold greater promise for delivering higher returns within a shorter timeframe.

https://finance.yahoo.com/news/makes-alliant-energy-corporation-lnt-143146800.html


Will Corebridge Financial (CRBG) Benefit from the Current Interest Rate Environment?
==========

Corebridge Financial, Inc. (NYSE:CRBG) is expected to benefit from the current interest rate environment, according to Artisan Value Income Fund. The investment management company highlighted Corebridge Financial as one of its top contributors in its first quarter 2024 investor letter. Corebridge Financial offers retirement solutions and insurance products and has been performing well since becoming a standalone entity. The company is expected to benefit from the "higher for longer" interest rate environment, which has driven an increase in spread income. Corebridge Financial yields 3.2% on its dividend and has a double-digit free cash flow yield. The company also paid two special dividends in 2023 totaling $1.78. Despite its potential, Corebridge Financial is not among the most popular stocks among hedge funds.

#CorebridgeFinancial #Crbg #InterestRateEnvironment #ArtisanValueIncomeFund #RetirementSolutions #InsuranceProducts #SpreadIncome #Dividend #FreeCashFlow #HedgeFunds

https://finance.yahoo.com/news/corebridge-financial-crbg-benefit-current-122230174.html


US economy ‘ready to crack’: Former Home Depot CEO blasts ‘series of debacles and missteps’ by the Biden admin
==========

Former Home Depot CEO Bob Nardelli warns that the US economy is on the verge of cracking due to a series of debacles and missteps by the Biden administration. Nardelli criticizes the administration's energy policy, particularly its push for electric vehicles (EVs), and expresses concern about the strain the EV transition could place on the nation's power grid. He also highlights the impact of inflation on Americans, pointing out rising housing costs and the absorption of wage increases by inflation. Nardelli believes the next president will face significant challenges in correcting the missteps and overspending of the current administration.

#UsEconomy #BidenAdministration #HomeDepot #ElectricVehicles #Inflation

https://finance.yahoo.com/news/us-economy-ready-crack-former-101200638.html


Fed to cut rates twice this year, starting Sept; but one or none still a risk: Reuters poll
==========

A majority of forecasters in a Reuters poll predict that the U.S. Federal Reserve will cut its key interest rate in September and once more this year. However, there is a significant risk that they may opt for only one or no rate cuts at all. Economists have consistently predicted two cuts, unlike the markets which were previously pricing in one cut in November. Fed officials have indicated that they are not in a hurry to cut the policy rate, and some economists believe that the Fed's latest projection will show two or fewer rate cuts for this year. Around 60% of participants in the poll predict two quarter-point cuts this year, while a minority of economists see only one rate cut or none at all. Inflation measures are expected to remain below 2% until at least 2026, and the unemployment rate is predicted to remain around 3.9% until 2027. The U.S. economy is forecasted to grow at a rate of 2.4% this year, faster than the non-inflationary growth rate of 1.8%.

#FederalReserve #InterestRates #Economy #Inflation #Unemployment #EconomicForecast

https://finance.yahoo.com/news/fed-cut-rates-twice-starting-124411242.html


U.S. Business Travel Industry Responsible for 2% of U.S. GDP and 3.5% of Employment in Latest Full-Year Figures
==========

The U.S. business travel industry contributed 2% to the U.S. GDP and 3.5% to employment in 2022. The industry spent $421.1 billion USD on business travel, resulting in $119 billion in tax receipts. It supported 6 million jobs, with 38% in food services, 19% in accommodations, and 11% in transportation and warehousing. For every dollar spent on business travel, $1.15 was returned to the U.S. economy as net-new GDP. The average age of U.S. business travelers is 44.3 years. The top 15 states for business travel destination spending accounted for 65% of total U.S. business travel expenditures, with New York and New Jersey leading. The U.S. is expected to be a top market for business travel spending in 2024, with global business travel spending anticipated to surpass $1.5 trillion in the same year.

#BusinessTravel #UsEconomy #Gdp #Employment #TaxRevenue

https://finance.yahoo.com/news/u-business-travel-industry-responsible-113000618.html


Asian Bonds Track US Rally; Stocks See Muted Open: Markets Wrap
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Asian bonds track US rally as signs of a cooling US labor market buoy Federal Reserve rate-cut bets. Australian and Japanese notes rose after US data showed job openings hit the lowest since 2021. Equities fell at the open in Tokyo, but edged higher in Sydney and Seoul. India markets will be in focus after capping their worst day in more than four years as Prime Minister Narendra Modi’s party lost its parliamentary majority. Oil extended losses after an industry report pointed to an increase in US crude stockpiles. Copper slid below $10,000. Bitcoin topped $70,000. The S&P 500 futures rose 0.1% as of 9:03 a.m. Tokyo time. The Japanese yen fell 0.2% to 155.20 per dollar. The yield on 10-year Treasuries was little changed at 4.33%. West Texas Intermediate crude fell 0.3% to $73.02 a barrel.

#AsianBonds #UsRally #FederalReserve #RatecutBets #Equities #Tokyo #Sydney #Seoul #IndiaMarkets #PrimeMinisterNarendraModi #UsCrudeStockpiles #Copper #Bitcoin #S&p500Futures #JapaneseYen #10yearTreasuries #WestTexasIntermediateCrude

https://finance.yahoo.com/news/asian-bonds-track-us-rally-223158365.html


Stock market today: Stocks turn positive despite worries of cracks in US economy
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US stocks turned positive on Tuesday, with the S&P 500 rising 0.2% and the Nasdaq Composite increasing 0.2%. The Dow Jones Industrial Average rose 0.5%. Stocks have struggled as investors face a dilemma over the path of interest rates. Recent data has prompted Wall Street strategists to scale back their optimism for economic growth, which supports a case for rate cuts. However, Federal Reserve officials have warned against hoping for a pivot anytime soon as they wait for inflation to cool. Job openings fell in April to their lowest level since February 2021, indicating signs of rebalancing in the labor market. The GameStop rally lost steam on Tuesday, with shares down about 2%. Ford's US sales jumped 11.2% in May, driven by hybrids, trucks, and EVs. Oil futures extended their decline on concerns over the health of the US economy and oversupply. Bitcoin climbed back above $70,000 per token. Fast food stocks have been struggling due to sticky inflation and new price wars. Nvidia's CFO highlighted strong sovereign AI demand in Europe, the Middle East, and Southeast Asia. Stifel's Barry Bannister predicts a 10% correction in the S&P 500 in the second or third quarter. GameStop shares remained volatile, with a 21% gain followed by a decline.

#StockMarket #UsEconomy #InterestRates #Inflation #LaborMarket #Gamestop #Ford #Oil #Bitcoin #FastFoodStocks #Nvidia #S&p500

https://finance.yahoo.com/news/live/stock-market-today-stocks-turn-positive-despite-worries-of-cracks-in-us-economy-160638984.html


Stock market today: Stocks slip as US economy starts to show cracks
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US stocks opened lower on Tuesday as investors weighed signs the surprising resilience in the US economy might be starting to show cracks. The S&P 500 fell 0.3% while the tech-heavy Nasdaq Composite dropped 0.2% after both indexes closed higher in the prior session during a bumpy session for the three major gauges. The Dow Jones Industrial Average dropped about 0.4%. Stocks have struggled to find a footing as investors face a dilemma over the path of interest rates. Recent data has prompted Wall Street strategists to scale back their optimism for economic growth, which supports a case for rate cuts. But Federal Reserve officials have warned against hoping for a pivot anytime soon as they wait for inflation to cool sufficiently — and when that time comes isn't clear. Eyes will be on April job openings figures due later Tuesday for more clues to how the economy is holding up, with factory and durable goods orders also on the docket. The GameStop rally lost steam on Tuesday, on the heels of a 21% surge for the meme darling. Shares of the video game retailer were down about 4%. India's stock benchmark plummeted, wiping out almost $35 billion in value, after touching all-time highs on Monday. The vote count in the country's national elections put the majority held by Prime Minister Narenda Modi's ruling party in doubt, despite exit polls showing a likely landslide win.

#UsStocks #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #InterestRates #EconomicGrowth #RateCuts #Inflation #AprilJobOpenings #Gamestop #India'sStockBenchmark #NationalElections

https://finance.yahoo.com/news/live/stock-market-today-stocks-slip-as-us-economy-starts-to-show-cracks-133125000.html


Stock market today: Wall Street turns lower on Tuesday as markets await data on labor market
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U.S. markets drifted lower before the bell Tuesday as investors await a trove of labor market data this week. Futures for the S&P 500 and the Dow Jones Industrial Average each fell about 0.3% before the bell. Bath & Body Works tumbled more than 7% before the bell, even as the retailer beat Wall Street's first-quarter sales and profit targets and raised guidance. Designer Brands, the owner of Designer Shoe Warehouse store chain, slipped more than 9% after its first-quarter profit came in below analyst forecasts. Later Tuesday, the U.S. government will show how many job openings employers were advertising at the end of April. The government's weekly layoffs report comes Thursday, while the jobs report on Friday will give show overall growth for jobs and workers’ wages, something the Federal Reserve will consider when it holds its monetary policy meeting later this month. In midday European trading, Germany's DAX fell 0.7%, the CAC 40 in Paris lost 0.4% and Britain's FTSE 100 declined 0.3%. In Asia, Japan's Nikkei 225 index lost 0.2% to 38,837.46 and the Kospi in Seoul gave up 0.8% to 2,662.10. Chinese shares recouped early losses amid reports that the property market might be stabilizing, with Hong Kong's Hang Seng up 0.2% at 18,444.11. The Shanghai Composite index rose 0.4% to 3,091.20.

#StockMarket #WallStreet #LaborMarket #S&p500 #DowJonesIndustrialAverage #Bath&BodyWorks #DesignerBrands #FederalReserve #Germany'sDax #Cac40 #Ftse100 #Japan'sNikkei225 #Kospi #HongKong'sHangSeng #ShanghaiComposite

https://finance.yahoo.com/news/stock-market-today-asian-shares-061328843.html


Stock market today: Wall Street slumps after latest signal of an economic slowdown, as oil tumbles
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U.S. stocks are slumping following the latest signal showing the U.S. economy is slowing. The S&P 500 was down 0.2% in afternoon trading. The Dow Jones Industrial Average was down 236 points, or 0.6%. The Nasdaq composite rose 0.1%. Treasury yields were also sliding in the bond market after a report showed U.S. manufacturing shrank in May for the 18th time in 19 months. Stocks of oil-and-gas producers were leading the market lower after the price of crude tumbled. Halliburton tumbled 5.3%, and Exxon Mobil sank 2.4%. Nvidia climbed another 3.4% to bring its gain for this year to 129%. GameStop soared 33.8% after a Reddit account associated with a central character in the 2021 episode said it had built a stake of 5 million shares. Stericycle jumped 14.8% after Waste Management said it would buy the medical-waste company for $5.8 billion in cash. Hertz Global sank 4.5% after it said its chief operating officer is leaving and named a new chief financial officer. In the bond market, the yield on the 10-year Treasury fell to 4.40% from 4.50%. The two-year yield fell to 4.82% from 4.88%. India’s Sensex soared 3.4% after the country’s 6-week-long election came to an end with most exit polls projecting that Prime Minister Narendra Modi will remain in power with a third consecutive term. Stocks in Mexico slumped 5.7% after Claudia Sheinbaum won in that country's presidential election. Stock indexes were higher across much of Europe and Asia, though Shanghai and London were exceptions.

#StockMarket #WallStreet #EconomicSlowdown #OilPrices

https://finance.yahoo.com/news/stock-market-today-asian-shares-033603812.html


Key Engines of US Consumer Spending Are Losing Steam All at Once
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Real disposable incomes have risen only modestly over the past year. The saving rate now stands at a 16-month low as households have mostly exhausted the extra pile of cash they squirreled away during the pandemic. In turn, many Americans are increasingly relying on credit cards and other sources of financing to support their spending. These factors help explain why real spending — which excludes the impact from inflation — fell in April, with consumers shelling out less on cars, restaurants and recreational activities. With the job market also cooling, companies like Best Buy Co. have noticed a change in recent months as shoppers switch to cheaper brands. Slower labor market momentum will continue to limit income growth and push more families to exercise spending restraint amid reduced savings buffers and higher debt burdens. The dip in April consumer spending reported Friday and the recent downward revision to the government’s estimate for gross domestic product in the first quarter provide fairly convincing evidence the US economy is coming off the surprisingly strong pace it set in 2023. Recent company earnings indicated that consumers have increasingly been prioritizing staples over large discretionary items. And higher-income consumers are trading down or hunting for deals, which helped boost sales at Walmart Inc. and discount retailer Dollar General Inc.

#UsEconomy #ConsumerSpending #Inflation #SavingRate #CreditCards #IncomeGrowth

https://finance.yahoo.com/news/key-engines-us-consumer-spending-140000015.html


Japanese data to confirm FX intervention as yen weakness persists
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Japan will release data on Friday revealing how much it spent intervening in the foreign exchange market to prop up the yen in May. Tokyo is suspected to have spent around a combined 9 trillion yen ($57.11 billion) on April 29 and May 2 to prevent the yen from falling to a 34-year low of 160 to the dollar. The monthly data only shows the total amount Japan spent on currency intervention during the period, with a more detailed breakdown to be released in early August. Market attention is now focused on whether and when Japan might intervene in the market again.

#FxIntervention #YenWeakness #ForeignExchangeMarket #CurrencyIntervention #BankOfJapan #UsEconomy #FederalReserve #InterestRates

https://finance.yahoo.com/news/japanese-data-confirm-fx-intervention-004210727.html


Here’s Why Artisan Small Cap Fund Trimmed Floor & Decor Holdings (FND)
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Artisan Small Cap Fund trimmed its position in Floor & Decor Holdings (FND) due to valuation concerns. The fund highlighted that FND sells hard-surface flooring in the US and has performed well, but it decided to trim its position based on valuation discipline. FND is a multi-channel specialty retailer of hard surface flooring and related accessories. The one-month return of FND was 3.95%, and its shares gained 24.42% of their value over the last 52 weeks. As of May 28, 2024, FND stock closed at $113.61 per share with a market capitalization of $12.158 billion. In the first quarter of 2024, Artisan Small Cap Fund's Investor Class fund returned 9.43%, Advisor Class fund returned 9.42%, and Institutional Class fund returned 9.48%, compared to a return of 7.58% for the Russell 2000 Growth Index.

#ArtisanSmallCapFund #Floor&DecorHoldings #Fnd #Valuation

https://finance.yahoo.com/news/why-artisan-small-cap-fund-104340185.html


US consumers show the Fed its backward problem with high rates: Morning Brief
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US consumers felt more confident in May, according to data from the Conference Board. The main driver of this reading is the high rates that are helping the wealthiest Americans, making it difficult for the Federal Reserve to enact rate cuts. Wealthy households can earn upwards of 4.5% in a high-yield savings account and see their equity portfolios go up 20% in a year. The spending from wealthy consumers is also keeping overall inflation above the Fed's 2% target. A recent poll showed that 56% of respondents believe the US economy is currently in recession, despite economic data showing the opposite. The poll also showed that 49% of respondents think the S&P 500 is down this year, when it is actually up over 11%. The rise in consumer confidence in May was likely fueled by easing gas prices and rising equity prices, but the underlying details of the survey reveal that consumer confidence may be easily shaken moving forward. The perceived likelihood of a recession rose in May, worry over current and future financial situations worsened, and purchasing plans for homes remained at their lowest level since August 2012, reflecting the impact of higher interest rates.

#UsConsumers #FederalReserve #InterestRates #WealthyAmericans #EconomicGrowth #Inflation #ConsumerConfidence #Recession #S&p500

https://finance.yahoo.com/news/us-consumers-show-the-fed-its-backward-problem-with-high-rates-morning-brief-100047960.html


Here’s Why Artisan Small Cap Fund Ended Investment Campaigns in Monolithic Power Systems (MPWR)
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Artisan Small Cap Fund ended its investment campaigns in Monolithic Power Systems (MPWR) during the first quarter of 2024. Monolithic Power Systems designs analog power-management chips for industrial and consumer devices. The company's market cap exceeded $30 billion, outgrowing Artisan Small Cap Fund's small-cap mandate. Monolithic Power Systems stock closed at $759.58 per share on May 28, 2024, with a market capitalization of $36.97 billion.

#ArtisanSmallCapFund #MonolithicPowerSystems #Investment

https://finance.yahoo.com/news/why-artisan-small-cap-fund-072135719.html


Consumer confidence rebounds for first time in 3 months
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Consumer confidence unexpectedly rose in May, ending three straight months of declines as Americans cheered a resilient labor market. The Conference Board's Consumer Confidence Index was 102, above the expected 97.5 and higher than the 96 economists surveyed by Bloomberg had expected. Views of current labor market conditions improved in May, as fewer respondents said jobs were 'hard to get.' Just 13.5% of consumers said jobs were 'hard to get,' down from 15.5% in April. The wealthiest Americans are the most upbeat about the state of the economy, with consumers making more than $100,000 a year expressing 'the largest rise in confidence' among all income cohorts. On a six-month rolling basis, confidence has been the highest among consumers under 35 years old who make more than $100,000 a year. Elevated prices remain a key sticking point for consumers, with consumers citing prices, particularly for food and groceries, as having 'the greatest impact' on their view of the US economy. The Conference Board's reading of 12-month inflation expectations ticked up to 5.4% from 5.3% the month prior. The Conference Board also provided insight into who within the population is feeling better about the economy, with the wealthiest Americans expressing 'the largest rise in confidence' among all income cohorts.

#ConsumerConfidence #LaborMarket #Economy #WealthyAmericans #InflationExpectations

https://finance.yahoo.com/news/consumer-confidence-rebounds-for-first-time-in-3-months-152634694.html


Stock market today: Wall Street drifts in quiet trading after returning from 3-day weekend
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Wall Street is listless on Tuesday, coming back from a three-day weekend, and is drifting near its record heights. The S&P 500 was 0.2% higher in early trading, just below its record set a week ago. The Dow Jones Industrial Average was down 115 points, or 0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5% higher after setting its latest all-time high. U.S. Cellular climbed 11.9% after T-Mobile said it will buy nearly all of the company. The deal is valued at $4.4 billion and includes up to $2 billion in assumed debt. GameStop soared 14.8% after it said it raised $933.4 million in cash through a previously announced sale of stock. Nvidia jumped another 4.6% to bring its gain for the year so far to a whopping 124.8%. The yield on the 10-year Treasury edged down to 4.45% from 4.47% late Friday. This upcoming week has several reports that could sway the Fed’s thinking, including one later Tuesday on confidence among consumers. In stock markets abroad, indexes fell modestly across much of Europe and Asia. London’s FTSE 100 slipped 0.4%, and Tokyo’s Nikkei 225 edged down by 0.1%.

#StockMarket #WallStreet #S&p500 #DowJonesIndustrialAverage #NasdaqComposite #UsCellular #Tmobile #Gamestop #Nvidia #10yearTreasury

https://finance.yahoo.com/news/stock-market-today-asian-shares-043002423.html


Complex Macro Economic Environment Dragged Tesla, Inc. (TSLA) in Q1
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Tesla, Inc. (TSLA) faced challenges in Q1 due to a complex macroeconomic environment, factory shutdowns, competitive risks in China, and vehicle price reductions. The company's shares fell 29.3% in Q1. Production was negatively impacted by supply chain interferences, sabotage in a Tesla factory's power supply, and a factory closure for the launch of the refreshed Model 3. Despite these challenges, Tesla delivered its highly anticipated Cybertruck pickup and launched version 12 of its Full Self Driving product. The company expects energy storage sales to continue growing and believes its core automotive segment will recover, as EVs still account for only around 10% of global vehicle sales. Tesla's trailing 12 months revenue is $94.75 billion, and it had a negative free cash flow of $2.5 billion in Q1. 74 hedge fund portfolios held Tesla at the end of Q1.

#Tesla #Tsla #Q12024 #ElectricVehicles #MacroeconomicEnvironment

https://finance.yahoo.com/news/complex-macro-economic-environment-dragged-082504871.html


Data reveals rising economic 'distress' across America despite post-pandemic growth
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Data from the Economic Innovation Group's (EIG) Distressed Communities Index shows that as of 2023, roughly 52 million Americans live in a 'distressed' zip code, up from 50 million in 2018. Factors used to calculate distress scores include the number of residents with a high school diploma, the poverty rate, the number of adults not working, the housing vacancy rate, the median income ratio, changes in employment, and changes in the number of business establishments. Urban areas across the country have become increasingly 'distressed' while the surrounding suburbs are considered more 'prosperous.' Large urban counties have experienced major population losses, while exurban and suburban counties have seen significant growth. The pandemic has exacerbated these trends as people are able to live further out from cities and still work remotely. Wealth disparities have also been highlighted, with those who can afford to move out of cities leaving behind lower-income residents. Housing affordability issues have been exacerbated by the increase in housing demand. Oklahoma City and Fort Worth are examples of cities facing mixed economic pictures, with distressed areas in their urban cores. Efforts are being made in these cities to address inequality and provide more equal opportunities for residents.

#EconomicDistress #PostpandemicGrowth #EconomicInnovationGroup #DistressedCommunities #UrbanAreas #Suburbs #PopulationChanges #WealthDisparities #HousingAffordability #Inequality

https://finance.yahoo.com/news/data-reveals-rising-economic-distress-across-america-despite-post-pandemic-growth-131451158.html


China's premier to hold rare summit with U.S.-allied South Korea, Japan
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Chinese Premier Li Qiang will hold a rare summit with South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida in Seoul. The three leaders will adopt a joint statement on six areas including the economy and trade, science and technology, people-to-people exchanges, and health and the aging population. The summit comes after separate bilateral talks between Li and Yoon, and Li and Kishida, where agreements were made on diplomatic and security dialogue, resuming free trade talks, and holding a new round of bilateral high-level economic dialogue. The leaders will also discuss resuming free trade agreement negotiations. The summit aims to revive and reinvigorate strained relations between China, South Korea, and Japan amid rising distrust and tensions over Taiwan.

#China #SouthKorea #Japan #Summit #Trade #Diplomacy

https://finance.yahoo.com/news/chinas-premier-hold-rare-summit-223342449.html


Is First Solar, Inc. (NASDAQ:FSLR) the Best Alternative Energy Stock to Buy Now?
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First Solar, Inc. (NASDAQ:FSLR) is engaged in the production and development of photovoltaic solar energy modules in the US, Asia, and Europe. It has invested $2.8 billion in three factories in Ohio and plans to invest an additional $1.2 billion to expand its manufacturing capacity to 10 GW by 2025 in the United States. The company expects its manufacturing capacity to reach 20 gigawatts by 2025 globally. First Solar, Inc. (NASDAQ:FSLR) recently released its earnings for the fiscal first quarter of 2024, posting earnings per share (EPS) of $2.20 and revenue of $749.11 million, a year-over-year increase of 44.8%. The company has a strong backlog and a commitment to innovation, with a backlog of 78.3 gigawatts of orders booked to 2030. The CEO of First Solar, Inc. (NASDAQ:FSLR) believes that the new tariffs announced by the Biden Administration against China can help the local solar manufacturers benefit from stable policies. As of May 23, First Solar, Inc. (NASDAQ:FSLR) is trading at a trailing twelve-month PE of nearly 25x, cheaper than the industry average of 45.33x. The stock has gained over 75% in the past six months and has received multiple ratings and price target upgrades from analysts.

#AlternativeEnergy #Stocks #SolarEnergy #RenewableEnergy #BidenAdministration #Tariffs

https://finance.yahoo.com/news/first-solar-inc-nasdaq-fslr-173123900.html


Is China the Top Country Wealthy People Choose to Live In?
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China is the largest economy in the world with a GDP (PPP) of $35.29 trillion. It has the second largest population of 1.41 billion people and ranks among the wealthiest countries by per capita net worth. However, China has been suffering from an economic crisis due to the slump in its property market, leading to debt defaults by real estate giants. Despite the economic challenges, China still has the most billionaires in the world and remains a hub for wealthy people. However, it is not the top country where wealthy people choose to live. China has the most number of billionaires at 814 in 2024, but it is not the top country where wealthy people choose to live. The top country for wealthy people to live in is not mentioned in the article.

#China #WealthyPeople #Economy #PropertyMarket #DebtDefaults #Billionaires

https://finance.yahoo.com/news/china-top-country-wealthy-people-083703639.html


Ahold Delhaize bets on AI and digital to boost earnings and savings
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Supermarket group Ahold Delhaize plans to boost digitalization and the use of artificial intelligence (AI) to grow underlying earnings per share and increase savings over the 2025-2028 period. The group aims for high-single-digit compound annual growth rate in underlying earnings per share compared to 2024. It expects 5 billion euros in cumulative savings by applying AI and automation in logistics, distribution, store operations, and back office. The group also intends to transition loyalty customers from physical cards to digital apps, targeting 30 million monthly active users by 2028. Ahold Delhaize beat first-quarter core profit margin expectations and confirmed its guidance for 2024.

#AholdDelhaize #Ai #Digitalization #Earnings #Savings

https://finance.yahoo.com/news/ahold-delhaize-bets-ai-digital-074212398.html


Wall Street's biggest bear flips, raises S&P 500 price target by 20%
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Morgan Stanley's Mike Wilson, known as Wall Street's biggest bear, has changed his tune and raised his S&P 500 price target to 5,400, reflecting a 2% upside over the next 12 months. Wilson's new target is based on the expectation of rising earnings and falling valuations. He is the third macro strategist to boost their S&P 500 target in the past week. Wilson also outlined a bull case of 6,350 and a bear case of 4,200, depending on the economic outlook. He recommends a barbell approach to investing and has upgraded the Industrials sector to Overweight.

#WallStreet #S&p500 #StockMarket #MikeWilson #MorganStanley

https://finance.yahoo.com/news/wall-streets-biggest-bear-flips-raises-sp-500-price-target-by-20-142228247.html


Sony and Apollo move ahead with Paramount bid process but reticent about earlier plan, NYT reports
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Sony Pictures Entertainment and Apollo Global Management have signed nondisclosure agreements to look at Paramount's books ahead of a potential bid for the movie studio's assets. The companies are backing away from an initial plan to make an all-cash $26 billion offer for Paramount. Sony and Apollo are now contemplating a variety of approaches to acquire Paramount's assets. Paramount has been struggling to recover from last year's strikes by Hollywood writers and actors, a soft advertising market, and falling cable subscriptions in the United States.

#SonyPicturesEntertainment #ApolloGlobalManagement #Paramount #MovieStudio #Assets #NondisclosureAgreements #BidProcess #AllcashOffer #HollywoodStrikes #AdvertisingMarket #CableSubscriptions

https://finance.yahoo.com/news/sony-apollo-move-ahead-paramount-031637364.html


Dollar set for weekly drop on US slowdown signs
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The dollar is set for its largest weekly fall versus the euro in two-and-a-half months as signs of cooling inflation and a softening US economy raise the prospect of rate cuts. The euro is up 0.9% on the dollar this week, breaking above resistance around $1.0855 and trading as high as $1.0895. US retail sales were flat in April and manufacturing output unexpectedly fell. The Australian and New Zealand dollars are each up more than 1% on the US dollar this week. Sterling is up 1.1% this week to $1.2664. Bitcoin is up 6.6% this week to $65,343. Chinese retail sales and industrial output data is due later in the session, and later on Friday final European CPI numbers are published.

#Dollar #Euro #RateCuts #RetailSales #ManufacturingOutput #AustralianDollar #NewZealandDollar #Sterling #Bitcoin #ChineseRetailSales #IndustrialOutput #EuropeanCpi

https://finance.yahoo.com/news/dollar-set-weekly-drop-us-011301366.html


America's trade wars will intensify under Biden or Trump
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President Joe Biden has joined former President Donald Trump as a 'tariff man,' leaving all of Trump's China tariffs in place and imposing his own set of levies. Biden's announcement aims to protect domestic production of semiconductors, green energy technology, and other favored industries. The most important target of Biden's new tariffs are electric vehicles made in China, raising the import tariff on Chinese EVs to 100% from 25%. However, the new tariffs only apply to products shipped to the United States from China and not to products made by Chinese companies in other countries or products made in China and shipped to the United States via third-party nations to avoid China-specific tariffs. Chinese automakers have already established operations in Mexico and announced plans to enter the US market. Both Biden and Trump have not outlined a clear solution to this problem. Congress may have to pass new laws giving the executive branch added authority to block or heavily tax imports within a trade pact if they trace back to an economic competitor such as China. It is also possible that crafty Chinese automakers could build cars in China and Mexico while abiding by all the trade pact rules and still sell them in the US market for less than competitors. Both Biden and Trump will continue to focus on protecting American manufacturers and their workers, as this issue resonates in electoral swing states dependent on manufacturing. The article concludes that there are political points to win by convincing voters you're tougher on China than the other candidate, but either candidate will face a continued challenge in protecting American manufacturers and workers.

#TradeWars #Tariffs #JoeBiden #DonaldTrump #China #ElectricVehicles #Manufacturing

https://finance.yahoo.com/news/americas-trade-wars-will-intensify-under-biden-or-trump-214107382.html


Stocks eye moves higher, Walmart earnings, Meta: 3 Things
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Stock futures dip below their flatline as the major market indexes seek to swing higher after the S&P 500 breached 5,300 on Wednesday and the Dow Jones Industrial Average eyes its 40,000 benchmark. Walmart shares are bumping in pre-market trading after topping fiscal first-quarter 2025 earnings estimates, noting US e-commerce sales leaped higher by 22% year-over-year. Lastly, European Union (EU) regulators are probing Meta Platforms' social media sites — Facebook and Instagram — on child safety law concerns.

#StockMarket #Walmart #MetaPlatforms

https://finance.yahoo.com/video/stocks-eye-moves-higher-walmart-131428342.html


Stock market today: US futures hold steady as inflation test looms
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US stocks held steady on Wednesday, eyeing fresh record highs ahead of a crucial update on consumer prices that could upend rate-cut hopes and as meme stocks regrouped after a roaring rally. Futures on the Dow Jones Industrial Average and S&P 500 hovered above the flatline. Contracts on the Nasdaq 100 were also little changed on the heels of a new peak for tech stocks. Stocks have ground higher amid rekindled confidence that the US economy is in good enough shape for the Federal Reserve to start bringing interest rates down from their current historic highs. That optimism has fueled a resurgence in bullishness in the market. The release of the Consumer Price Index later Wednesday could test those hopes. After a string of hot data, another surprise from April CPI could spark more worries that an overheating economy will force the Fed to raise rates again, undercutting the case for more gains in stocks and bonds. The headline figure is expected to tick down to 3.4%.

#StockMarket #UsFutures #Inflation #RatecutHopes #MemeStocks #DowJonesIndustrialAverage #S&p500 #Nasdaq100 #TechStocks #ConsumerPriceIndex #UsEconomy #FederalReserve #InterestRates #Bullishness #AprilCpi

https://finance.yahoo.com/news/live/stock-market-today-us-futures-hold-steady-as-inflation-test-looms-112750791.html