Market News

Fresh optimism over ether ETF approval could send prices to new highs. Here’s what it means for other cryptos.

It seems more likely that a spot ether exchange-traded fund could arrive as early as this week amid a sudden change of stance by the U.S. Securities and Exchange Commission.

The stock market has already chosen a winner in the 2024 presidential election

‘It’s the stock market, stupid!’ Dow Jones Industrial Average is a surprisingly reliable election predictor.

Urban Outfitters shares rally as Anthropologie, Free People continue to lift results

Shares of Urban Outfitters Inc. raced higher after hours on Tuesday after the clothing retailer reported first-quarter results that beat expectations.

Robert F. Kennedy Jr. invests $24K in GameStop in attempt to secure the ape vote

Is this the 2024 presidential election’s “Pokémon Go to the polls” moment or something bigger?

New York City trophy buildings top list of new debt placed on downgrade watch

SL Green’s 280 Park Avenue tops a new list of trophy properties with debt placed on downgrade watch Tuesday by KBRA.

AI could demand a shocking amount of electricity — check out this chart

While you might be trying to use less electricity in order to save money, developers of artificial-intelligence tools are heading in the other direction.

Disney’s Pixar to lay off around 14% of staff in latest industry pullback, reports say

Walt Disney Co.’s Pixar Animation Studios is laying off around 14% of its workforce, a move that will affect some 175 employees, according to multiple reports.

Why Faraday Future joined the meme-stock rally — and then some

One of the most unusual events in last week’s meme-stock rally was the phenomenal surge in shares of electric-vehicle startup Faraday Future Intelligent Electric Inc., which went stratospheric on zero news.

Comcast says its new ‘StreamSaver’ bundle will save customers close to $100 a year — here’s how

The new bundle offering Apple TV+, Netflix and Peacock costs $15 a month and is only available to Comcast subscribers.

S&P 500 attempts fresh peak as U.S. stocks edge higher ahead of Nvidia earnings

U.S. stocks were edging higher on Tuesday, as investor anticipation runs high for upcoming earnings results from Nvidia Corp.

Macy’s is trying to listen to its customers more. The efforts are showing signs of working.

Macy’s reported quarterly results as its customers, still grappling with higher-priced groceries and other necessities, remain selective about the clothing and home goods that they buy. The company’s rivals are still cutting prices to spur demand.

Children’s Place’s stock tumbles after longtime CEO agrees to leave

Shares of Children’s Place Inc. took a dive Tuesday after the retailer of children’s apparel said longtime Chief Executive Jane Elfers left the company under a “mutual agreement.”

Uranium ETF soars to 10-year high on rising demand and Russia import ban

Exchange-traded funds that track uranium-related stocks have skyrocketed this year, with prices for the heavy metal widely used for nuclear-power generation hovering around its highest level in 16 years, buoyed by tight supplies and expectations for rising demand.

Why the turbulence that killed a Singapore Airlines passenger is so dangerous — and could be more frequent

What worried airline passengers should know about “the most dangerous type of turbulence,” and how to protect themselves this summer travel season.

Scarlett Johansson’s fight with OpenAI isn’t the star’s first legal battle over artificial intelligence

Last year, Johansson’s lawyers went after an AI firm for using her image without permission — an early salvo between artists and the emerging technology.

Microsoft’s stock rides AI elation toward first record close in two months

The technology powerhouse is in the midst of its Build developer conference, featuring announcements around AI products and software.

Here’s what the U.S. government is doing to help lower gasoline prices

Gasoline prices at the pump are little changed from a year ago, but the Biden administration on Tuesday said it’s taking action to help lower prices at the pump for the summer.

Inside the NYC kitchen fueling Shake Shack's $4 billion burger empire

Every new menu item is developed in the basement of the chain's West Village restaurant.

Here's where rents are rising — and where they're falling

Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents, followed by New York and Boston.

60% of Americans say reaching this milestone makes them financially successful—it's not becoming a millionaire

For many Americans, achieving financial success isn't attached to reaching a certain income level, per Bankrate. Here's how they define it instead.

The crypto Congress: momentum builds for ‘most significant’ digital asset law in history

Crypto industry insiders are becoming more optimistic that new legislation that would sideline the U.S. Securities and Exchange Commission will get strong bipartisan support in a vote this week, and potentially even become law before the end of the year.

Bill Gates names his top book recommendations of the summer—and the one that's a 'must-read'

Bill Gates' summer book recommendations for 2024 range from a Vietnam War novel to a non-fiction book about better listening — and one TV show, "Slow Horses."

Trump’s tariffs would cost U.S. families $1,700 a year, think tank says

Presumptive Republican presidential nominee Donald Trump’s proposed tariffs would “cost a typical household in the middle of the income distribution about $1,700 in increased taxes each year,” the Peterson Institute for International Economics, a nonpartisan think tank, said in a new report.

Target’s price cuts imply earnings may be a concern — but UBS says don’t worry

“Our take is that these actions are a sign of strength, not a signal of vulnerability,” a UBS analyst wrote about the retailer’s price cuts.

Here's how Disney’s streaming business can work toward Netflix-like profitability

Disney would love to have streaming margins like Netflix, CEO Bob Iger has said. Here are levers Disney can pull to eventually get there.

Trump’s “unified Reich” video controversy is a win for Truth Social

Donald Trump mints free publicity. And for a startup, especially a “social media” startup, publicity like this is worth more than gold.

Pixar is laying off 14% of its workforce as Disney scales back content

Around 14% of Disney's Pixar Animation Studio's workforce, or around 175 employees, are being laid off.

Eli Lilly’s stock on pace for record close as Crohn’s disease trial hits the mark

Eli Lilly shares were on pace for a record closing high Tuesday after the drugmaker released data from a late-stage Crohn’s disease trial and struck a deal to develop new cancer-targeting medicines.

Two-thirds of Americans say inflation has made their financial situation worse

Nearly two-thirds of Americans say high inflation has made their financial situation worse, especially families with lower incomes, a new Federal Reserve study found.

Eli Lilly stock hits new highs after a regulatory win in China. This is a big deal

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.

Microsoft’s AI PC unveiling could benefit these chip stocks

Some chip companies stand to benefit from the growth of on-device AI features. One of them is chip designer Arm Holdings, according to BofA.

Microsoft launches free AI assistant for all educators in U.S. in deal with Khan Academy

Microsoft is offering a free AI-powered assistant to all U.S. teachers in a deal with Khan Academy, which already provides an education GPT to students.

Bond king Jeffrey Gundlach still sees a U.S. recession coming. Here’s when.

Jeffrey Gundlach, chief executive of investment-management company DoubleLine Capital, is continuing to hold on to a view that he’s had since at least late last year — that the world’s largest economy will likely experience a recession.

During our final walkthrough, the seller’s agent told us someone died in the house. After we moved in, I found a lot of blood. What should we do?

“We just gave our condolences and, honestly, we were shocked that this had happened and the sale was still going through.”

This financial adviser breaks down taxes and estate planning into 3 simple charts

These images can help you wrap your head around how to manage your money.

The six most surprising things that happened at Trump’s hush-money trial

With the conclusion of testimony, it was David Pecker, Stormy Daniels and Michael Cohen who provided fireworks as Trump seethed in the courtroom

Ether may rally over 75% if SEC approves the crypto-based ETF, says AllianceBernstein

Ether may rally more than 75% if an exchange traded fund investing directly in the crypto is approved, according to AllianceBernstein.

Oil prices drift lower as traders fret over Fed, look for catalysts

Oil futures headed lower Tuesday, on track to notch back-to-back session losses, as traders were concerned about the outlook for crude demand as the Federal Reserve maintains higher interest rates.

AMC bonds holding most of their gains after last week’s debt-for-equity swap

AMC Entertainment Inc.’s bonds have held on to last week’s gains even as the movie-theater chain’s shares tumbled in the wake of their meme-stock rally.

This chart shows why Biden is struggling with a key demographic

Unemployment has spiked among a demographic that is key to President Joe Biden’s re-election prospects: America’s youth.

My wife and I are in our 60s. She was a stay-at-home mom. Can we retire on early Social Security and $1.6 million in savings?

“When I retire I will have to purchase health insurance policies for my wife and me.”

Millennials are 'quiet vacationing' rather than asking their boss for PTO: 'There's a giant workaround culture'

Younger workers are more likely to say they get nervous when asking for time off, and they're leaving PTO on the table.

Why Palo Alto Networks’ earnings report missed the mark once again

“Apparently, our assumption that management had reset expectations after last quarter in order to return to a beat-and-raise cadence was incorrect,” an analyst wrote.

What the fund flow data tell us about the stock and bond markets

Many investors are surprised to learn that there is an inverse relationship between fund flows and performance.

Treasury yields dip as Fed’s Waller calls for more time before supporting any rate cut

Rates on U.S. government debt were slightly lower Tuesday morning as investors eyed another batch of comments from Federal Reserve officials.

‘Is he trying to bamboozle me?’ My husband wants a divorce after 20 years. He offered his $275,000 401(k) in exchange for our $275,000 house.

“I used my 401(k) for life expenses because doctors found a parasite behind my husband’s eye.”

Jim Cramer's top 10 things to watch in the stock market Tuesday

Palo Alto Networks is better than it looks. Here's why.

This investment account offers 'rare triple-tax benefits' that are easily overlooked—and you can contribute even more next year

Money in HSAs can be invested, but only 13% of account holders actually take advantage.

Fed’s Waller needs ‘several more months’ of good inflation data before backing rate cut

“In the absence of a significant weakening in the labor market, I need to see several more months of good inflation data before I would be comfortable supporting an easing in the stance of monetary policy,” Waller said Tuesday.

Macy’s stock climbs after sales fell again, but beat expectations

Macy’s stock rose Tuesday, after the department store chain reported fiscal first-quarter results that fell from a year ago but that beat expectations, and nudged up its full-year outlook.

Cities and towns provide kindergarten. They soon might fund child-care services for toddlers and infants too.

Across the country, there are too few affordable child-care spots for families who need them, in part because too few people are willing to do this important but challenging work for the low pay typical for the sector.

JPMorgan is the last bear on Wall Street. Why it’s not budging on a bearish stock view.

Marko Kolanovic is not about to turn bullish on stocks, even after a bunch of his colleagues have started upping their S&P 500 targets.

GameStop and AMC pare back gains as dust settles from Roaring Kitty-fueled meme-stock frenzy

GameStop Corp. and AMC Entertainment Holdings Inc. pared back Monday’s gains in premarket trades Tuesday as the dust continued to settle from last week’s meme-stock frenzy.

U.K. water supplier Pennon sees bigger losses, smaller dividends — and one parasitic water bug

British water utility Pennon said it was “working tirelessly around the clock” to fix a contaminated-water incident in the county of Devon as it revealed bigger annual losses.

This is how long it will take for the electric vehicle industry to win over skeptical buyers

A new study finds that most EV skeptics will consider buying a battery-powered vehicle in the future, but for some, it could take a while.

U.S.-China tensions are blocking the road for EV manufacturers

Biden administration is confident that U.S. car companies will adapt to new tariffs on Chinese-made products.

XPeng’s stock leaps after EV maker’s sales beat by widest margin in 2 years

XPeng’s stock powered higher Tuesday, after the China-based electric vehicle maker reported first-quarter results that beat expectations by wide margins, fueled by higher deliveries and cost-cutting.

Odey Asset Management closed in a crisis. Two of its former funds are now top performers.

The two funds managed by James Hanbury were transferred to Lancaster Investment Management after Odey Asset Management closed, on the back of sexual assault allegations against its founder, in 2023

AstraZeneca kicks off ‘new era of growth’ with aim to hit $80 billion of sales by 2030

The Anglo-Swedish pharmaceutical company’s CEO Pascal Soriot said the announcement marks the start of a “new era of growth”

GSK says late-stage trials of potential blockbuster asthma drug met their goals

GSK on Tuesday said two late-stage trials of an asthma drug that could have peak sales of more than £3 billion ($3.8 billion) met their goals.

Americans must pay higher taxes if they want to keep a high standard of living

Financial challenges face the next U.S. president — but one candidate’s remedies would be a ‘train wreck.’

Palo Alto Networks continues to play the long game, much to Wall Street’s chagrin

Palo Alto Networks still is dealing with investor chagrin about the big shift in strategy it announced last quarter, in an effort to eventually boost revenue growth.

Scarlett Johansson says OpenAI ripped off her voice after she told the company it could not use her for voice software

Scarlett Johansson's comments come after OpenAI paused its new AI voice 'Sky."

Cramer explains why it's important to acknowledge the Dow 40,000 milestone

Cramer stressed how the Dow's record was propelled by stocks in a variety of sectors beyond tech, including industrials, pharmaceuticals and banks.

Elon Musk’s Tesla pay package assailed by shareholder group

New York City’s investment chief and other key investors are urging Tesla Inc. shareholders to vote against Chief Executive Elon Musk’s $56 billion pay package and the reelection of board directors Kimbal Musk and James Murdoch.

FDIC Chair Martin Gruenberg to resign as pressure mounts

Federal Deposit Insurance Corp. Chair Martin Gruenberg says he will resign once the banking regulator finds a successor.

Ether price jumps ahead of SEC’s ETF decision as speculation on approval rises

Ether’s price jumped Monday afternoon, leading a rally for major cryptocurrencies three days before the U.S. Securities and Exchange Commission has to decide whether to approve VanEck’s application for a spot ether exchange-traded fund.

Trump Media had less than $1 million in revenue during the first quarter

The revenue total came largely from advertising, the Truth Social parent said.

Peloton unveils convertible-debt refinancing, and its stock falls 8%

Ailing Peloton Interactive Inc. said late Monday it will issue convertible bonds as part of a debt swap, sending the fitness company’s stock 8% lower in the after-hours session.

How Apple's AI push could do more than just reignite iPhone sales

Melius Research believes Apple's AI-enhanced iPhones could boost multiple parts of the technology giant's business.

Zoom bumps its longer-term outlook higher, but near-term forecast comes up short

Zoom Video Communications Inc. on Monday bumped its full-year profit and sales forecast higher, after reporting first-quarter results that beat Wall Street’s expectations, helped by a broader artificial-intelligence rollout across the video-calling platform’s products.

Palo Alto Networks’ stock falls after earnings as forecast fails to impress

The stock was down about 10% in after-hours action Monday. It lost 28% in the session after the last earnings report.

Rudy Giuliani and George Clooney have at least this one thing in common

Giuliani has entered the celebrity branding world with Rudy Coffee. Here’s what branding experts say about its chances to succeed.

Wendy's will offer $3 breakfast deal, as rivals like McDonald's test value meals to drive sales

Starting Monday, Wendy's will offer a $3 breakfast combination meal deal, following a similar yet limited value meal option by McDonald's.

Wall Street strategists rush to revise their S&P 500 targets as stocks hit fresh records. Here’s what they see happening.

The stock market’s renewed record-setting rally has blindsided Wall Street’s top strategists, prompting many to swiftly revise their year-end S&P 500 targets in an effort to keep pace with a surge that has far exceeded expectations from earlier this year.

JPMorgan’s Jamie Dimon suggests he may retire early

JPMorgan Chase & Co.’s Jamie Dimon on Monday implied that he may retire earlier than planned as the bank’s chief executive.

Fed’s Mester says forecast of 3 rate cuts this year is now probably too many

“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”

Why Michael Dell's latest prediction about AI PCs is great news for Best Buy

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.

How Ivan Boesky became one of the most infamous figures on Wall Street and the inspiration for Gordon Gekko

Ivan Boesky’s 1986 guilty plea to insider trading, accompanied by a then-record $100 million fine, brought to a close a period of roaring 1980s exorbitance on Wall Street and beyond that became the calling card of the so-called Me Generation.

Target lowers food prices as many shoppers go into grocery debt

“Consumers are feeling pressured,” the big-box retailer acknowledged while lowering prices on 5,000 items.

Fed likely to keep a $6.8 trillion balance sheet by December, says Barclays

Another lasting facet of the pandemic looks to be a very large Federal Reserve balance sheet.

Global stocks hit record highs as more countries join in the rally

More global stocks are joining in the rally, and that’s a good thing — especially for U.S. markets.

Surging shipping costs could complicate Fed’s inflation fight

While supply shortages have eased greatly in the past few years, they have not entirely gone away.

Who pays for long-term care?

People are confused and overestimate Medicare’s role in paying for long-term care

Micron’s stock rises as Morgan Stanley admits its bearish stance ‘was a mistake’

An analyst said he failed to properly appreciate how high-bandwidth memory would drive stock momentum.

Spirit Airlines gets rid of change and cancellation fees, joining Frontier

Spirit used to charge anywhere from $69 to $119 for ticket changes and cancellations, depending on how close to departure the customer made the change.

Here's our latest thinking on the 3 portfolio stocks reporting earnings this week

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.

Are market-beating fund managers truly skilled or just lucky?

The case for index funds strengthens against the reality that most managers underperform.

Grayscale CEO Michael Sonnenshein steps down as firm’s bitcoin ETF bleeds assets

Grayscale Investments has named a new chief executive as Michael Sonnenshein stepped down after helping to pave the way for spot bitcoin exchange-traded funds that are now posing hot competition for the firm.

Hims & Hers Health says it will offer compounded GLP-1 drugs, despite FDA warnings

Hims & Hers Health’s stock jumped more than 30% Monday morning after the health and wellness platform said it would offer compounded versions of popular GLP-1 drugs.

As hurricane season arrives, these stocks could present opportunities

With an ”extremely active” hurricane season about to start, key stocks in the home-improvement and consumer-staples industries could present opportunities, according to investing-information website Trading.biz.

I bought my first home this year: 7 things I wish I'd done before getting serious about my search

My partner and I closed on a two-bedroom apartment in New York City in January 2024.

Gen Z bosses on the 6 misconceptions people have about them in the workplace: ‘We see these stereotypes getting in the way’

Some bosses say they don't want to hire Gen Z because they're too difficult. Today's youngest professionals are showing why that's wrong.

Power demand from AI, EVs and Big Tech is now the energy sector’s No. 1 concern

If power systems fail, it’s lights out for the entire economy.