Well, that was unexpected. The U.S. economy added a whopping 254,000 jobs in September, nearly 100,000 more than economists expected. The unemployment rate, which was expected to hold steady at 4.2%, slipped to 4.1%. Wages also rose more than expected month over month. Stock futures rallied following the news. Dow Jones Industrial Average futures popped 255 points, or 0.6%….
United Atlantic Ventures, a significant shareholder in Trump Media, has sold nearly 11 million shares in the company, according to a regulatory filing Thursday, weeks after a federal judge cleared the way for the transaction. The move left UAV — an investment partnership of former “Apprentice” contestants Andrew Litinsky and Wes Moss — owning just 100 shares in Trump…
Jaque Silva | SOPA Images | Lightrocket | Getty Images Super Micro Computer shares closed down 12% on Thursday after the Justice Department reportedly opened a probe into the company, which has been a major beneficiary of the artificial intelligence boom. The probe is in its early days, according to a report from The Wall Street Journal, and it…
Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve’s rate cut was to buy Chinese stocks. “I thought that what the Fed did last week would lead to China easing, and I didn’t know that they were going to bring out the big guns like they did,” Tepper told CNBC’s “Squawk Box” on Thursday….
The Federal Reserve cut interest rates for the first time in four years Wednesday. Let’s take a look at how stocks performed at the start of prior easing cycles. How it will perform from here depends largely on the economy, historical data shows. In total, across all cycles, the S & P 500’s performance in the aftermath of the…
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange in New York City, Feb. 20, 2024. Brendan Mcdermid | Reuters Shares of Adobe closed down more than 8% on Friday, a day after the software company released third-quarter results that offered worse-than-expected guidance for the fourth quarter. Adobe reported $5.41 billion…
Think rate cuts will save the bull market? Think again, according to Stifel. “Fed cuts are a red herring,” Stifel strategists said in a note to clients. “We have our doubts about the currently widespread belief that ‘Fed Cuts = Buy Stocks.’” Markets are expecting the central bank to lower benchmark rates by at least a quarter-percentage point in…
Nvidia CEO Jensen Huang speaks during Computex 2024 in Taipei on June 4, 2024. I-hwa Cheng | AFP | Getty Images Nvidia shares fell nearly 2% on Wednesday, after briefly recovering from a pre-market slip after Bloomberg reported that the company received a subpoena from the Department of Justice as part of an antitrust investigation. Nvidia denied on Wednesday…
September is typically a rough month for Apple — and it’s a toss-up as to whether this year could be any different. Apple is expected to announce new iPhones and Apple Watch models on Sept. 9 during a press event at its headquarters in Cupertino, California. The tech giant typically unveils these new models at its fall launches ahead…
Crypto investors are having a mild existential crisis as demand for the young asset class dries up in the midst of a bull market. In the past month, search interest in crypto has been muted, network activity has been subdued and futures funding rates briefly went negative. Ether ETFs, which began trading a little over a month ago, have…
