New Conservative Party leader and incoming prime minister Liz Truss reacts as she leaves the Conservative Party Headquarters in central London having been announced the winner of the Conservative Party leadership contest at an event in central London on September 5, 2022. Niklas Halle’n | Afp | Getty Images LONDON […]
Finance
‘We don’t have enough’ lithium globally to meet EV targets, mining CEO says
Climate provisions in the Inflation Reduction Act put the U.S. back on track toward significant emissions reductions, potentially reducing greenhouse gas output by 40% of 2005 levels. But one miner warned that when it comes to the transportation sector, domestic resources for lithium, the most critical mineral used for electric […]
MATANA is the new FAANG, analyst says
It’s time to rethink who’s at the top of the Big Tech food-chain, Constellation Research Principal Analyst & Founder Ray Wang told Yahoo Finance Live (video above). Wang argued that MATANA — Microsoft (MSFT), Apple (AAPL), Tesla (TSLA), Alphabet (GOOG, GOOGL), Nvidia (NVDA), and Amazon (AMZN) – is an upgrade […]
What to know this shortened week
The stock market is poised for more turbulence this week when investors return to Wall Street on Tuesday for a holiday-shortened trading week. U.S. markets will be closed on Monday in observance of Labor Day. All three major averages slid late in Friday’s session to cap a third-straight week of […]
Why Millennial and Gen Z investors have an edge in today’s markets
It’s no secret that 2022 is presenting unique challenges for investors, as both stocks and bonds have tanked in unison for the first time in decades. Yet the combination of the latest fintech, data, and news tools — along with time-honored investing rules and psychology — are delivering more opportunities […]
‘We’re not going to eradicate the virus’
When White House Chief Medical Advisor Dr. Anthony Fauci warned in 2020 that living with the coronavirus was going to be our new normal, he meant it. “We’re not going to eradicate the virus from the face of the Earth,” Fauci told Yahoo Finance in an interview on Tuesday. “I […]
Nvidia, Intel, and AMD are at risk if this big Citi prediction is right
There are at least two things market participants are bearish on as summer draws to a close: Bed Bath & Beyond stock (despite this week’s bounce) and the entire semiconductor space. The closely watched Philadelphia Semiconductor Index (SOX) is down nearly 30% year to date, under-performing the S&P 500’s 15% […]
Fannie Mae says fixed mortgage rates could fall to 4.5% next year
The Good Brigade | Digitalvision | Getty Images Mortgage rates are projected to decline next year — but that doesn’t mean prospective homebuyers should necessarily delay a purchase for the prospect of lower financing costs. The rate on a 30-year fixed mortgage will fall to an average 4.5% in 2023, […]
HP earnings miss estimates as slowing economy takes its toll
The post COVID-19 PC hangover has found its way to the doorsteps of computing giant HP Inc. after making stops at rival Dell and chipmakers like Intel. HP saw fiscal third-quarter sales fall 4.1% from a year ago, pushed lower by a 32% decline in the number of notebook computer […]
‘I don’t think that’s the debate today’
Richmond Fed President Tom Barkin said Tuesday recent data is “consistent” with an economy that is not in a recession. “A month or two ago, the debate was whether we were in a recession or not, I don’t think that’s the debate today,” Barkin told Yahoo Finance Live in an […]
Jealous of Biden’s big gift to students? 17 million workers are still missing out on free money
Jealous of Biden’s big gift to students? 17 million workers are still missing out on free money The promise of free money is typically pretty alluring. After all, millions of people are rejoicing now that President Joe Biden has finally announced mass forgiveness of student debt. So why, then, are […]
Biden canceled billions in student debt, but what he plans to do next may have an even bigger impact
Biden canceled billions in student debt, but what he plans to do next may have an even bigger impact With billions of dollars of student debt cleared from the books, millions woke up today to a different financial world. One where they have a higher net worth, more purchasing power […]
We’re going after tax evaders, not honest Americans: Op-Ed
This is an op-ed from Charles P. Rettig, the 49th Commissioner of the IRS. As the nation’s tax administrator, the IRS plays a unique role in our nation. It can be a difficult job. After all, does anyone really like paying taxes? Of course not. But they’re essential to fund […]
Shoppers won’t even buy clearance items right now
Most analysts would agree Nordstrom has arguably the best-looking department stores and customer service in the game. Even those great attributes don’t appear to be enough currently, though, as U.S. consumers shun discretionary purchases like apparel with inflation raging. The stress on consumer budgets has reached a point where a […]
Meme stocks rally, crude oil sinks during mixed trading for U.S. stocks
The stock market is the meme market once again. On Tuesday, the major averages finished mixed, with the Dow up 0.7% following Walmart’s (WMT) better-than-feared earnings report, the S&P 500 up 0.2%, and the Nasdaq falling some 0.2%. At the index level, the recovery from mid-June lows remains the dominant […]
Biden administration plans Russian oil price caps to fight inflation
The Biden administration expects to implement the first phase of a price cap on Russian oil exports this fall in coordination with the G7, with sights set on bringing additional Asian partners on board in the winter. “We’re trying to prevent a spike in global energy prices by avoiding a […]
Walmart CFO talks consumers, inventory, back-to-school, and gas prices after earnings beat
Walmart’s business looks to have stabilized after surging inflation for food and gas weighed on the company’s guidance a few weeks ago. The world’s largest retailer revised its full year guidance for profits to drop 9% to 11% from a prior range for a 11% to 13% decline. Walmart stock […]
Warner Bros. Discovery cuts 14% of HBO Max jobs amid restructuring efforts
Warner Bros. Discovery (WBD) has cut 14% of its HBO Max workforce. The company eliminated approximately 70 jobs across Casey Bloys’ organization after announcing that the streaming service will combine with Discovery+ to be one platform, set to launch next summer. A new report from CNBC adds that the layoffs […]
Trump once again says economic data is fake news
Donald Trump has assailed the government’s official economic data this summer by calling it “phony” or “fake news.” He likes to say the “actual” number for jobs statistics or the inflation rate would be much more flattering to him — and would look worse for President Joe Biden. It’s a […]
4 ways it will kick in right away
The signing Tuesday of the Inflation Reduction Act is set to kick off a parade of action from the Biden administration and other Democrats to sell the bill to the public. While some analysis shows it won’t meaningfully reduce inflation, the so-called IRA will devote hundreds of billions of dollars […]