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☆ Stock market today: Indexes gain as investors assess new inflation data and latest earnings
▼ + stars: | 2024-04-26 | by ( Max Adams | Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

US stocks rose on Friday as markets assessed new inflation data in the form of March PCE. The Fed's preferred gauge showed inflation rose 2.8% year-over-year, slightly higher than estimates. AdvertisementUS stocks climbed on Friday, with investors digesting new inflation data and cheering earnings from mega-cap tech titans Microsoft and Alphabet. Personal consumption expenditures data showed prices rose more than expected last month. The Federal Reserve's preferred measure of inflation showed an uptick of 2.8% versus estimates of 2.7%.

Persons: —, Clark Bellin Organizations: PCE, Microsoft, Google, Service, Federal, Bellwether

☆ Stock market today: US indexes drop as 1st-quarter GDP growth comes in weaker than expected
▼ + stars: | 2024-04-25 | by ( Max Adams | Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

US stocks fell sharply Thursday as data showed the US economy grew much slower than expected to start 2024. The report also showed consumer prices rising in the quarter, complicating the Fed's rate-cut decision. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The market will be focused on personal consumption expenditures data, the Fed's preferred inflation measure, which is due out on Friday. AdvertisementBond yields jumped as traders reacted to the economic data.

Persons: —, Quincy Krosby Organizations: Treasury, Service, Economic, Federal Reserve, LPL, Here's

☆ Stock market today: Dow falls 375 points as traders brace for new inflation data after weak GDP
▼ + stars: | 2024-04-25 | by ( Max Adams | Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Commentators pointed out that the data was still mostly strong but inflation is problematic. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStocks fell on Thursday, with the Dow Jones Industrial Average losing 375 points as the market took in weaker-than-expected economic data. Savings rates are falling as sticky inflation puts greater pressure on the consumer," LPL Financial chief economist Jeffrey Roach said.

Persons: —, Stocks, Jeffrey Roach Organizations: Service, Dow Jones Industrial, Reserve, Barclays, Bank of America, PCE, Financial, Treasury, Meta, Microsoft, Google

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Persons: you've, Max, Max Ad, Wonka, Barbie Organizations: Business, Max, HBO Max, HBO

Learn moreFor a limited time only, you can get major savings on Max subscriptions, which are usually among the most expensive in the world of streaming. Until April 9, you can get up to 42% off the service's three annual plans: With Ads, Ad-Free, or Ultimate Ad-Free. Annual plans typically cost $99.99 with ads, $149.99 Ad-Free, and $199.99 for Ultimate Ad-Free. Max Ad-Free Annual Plan $110.99 $191.88 Save 42% Annual Max subscriptions can seem expensive, but they're more affordable than paying month-to-month. Plan Monthly Rate Usual Annual Rate Discount Annual Rate With Ads $9.99 $99.99 $69.99 Ad-Free $15.99 $149.99 $110.99 Ultimate Ad-Free $19.99 $199.99 $139.99Formerly HBO Max, Max is the go-to streaming service for HBO, Max originals, and an impressive on-demand catalog of beloved TV shows and movies.

Persons: Max Ad, HBO Max, Max, Wonka Organizations: Business, Max, HBO, Thrones Locations: Kong

☆ Mortgage rate decline pulls buyers back into the housing market
▼ + stars: | 2024-01-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

watch nowA sharp drop in mortgage interest rates in December may have kickstarted this year's spring housing market early. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie Mae. "This significant shift in consumer expectations comes on the heels of the recent bond market rally," said Palim. "Notably, homeowners and higher-income groups reported greater rate optimism than renters." The average rate on the 30-year fixed has been on a wild ride since the start of the Covid pandemic.

Persons: Fannie Mae, Mark Palim, Ryan Paredes, Ariadna Paredes, Ryan Ratliff, Joe Raedle, Paul Legere Organizations: Max Advance Realty, Getty, . Washington , D.C Locations: Cutler Bay , Florida, . Washington ,

☆ US stocks rise ahead ahead of holiday as bond yields slip and traders assess jobs data
▼ + stars: | 2023-11-22 | by ( Max Adams | ) www.businessinsider.com time to read: +1 min

US stocks rose on Wednesday ahead of the Thanksgiving holiday. Bond yields edged lower, with the 10-year Treasury slipping three basis points. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks rose on Wednesday as investors prepared to wind down trading for the Thanksgiving holiday. Bond yields on Wednesday slipped, with the 10-year Treasury rate down about three basis points.

Persons: —, Stocks Organizations: Treasury, Service, Traders, Federal

☆ Warner Bros. Discovery CEO David Zaslav says writers, actors strikes need to end as media industry is in a transitional moment
▼ + stars: | 2023-09-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The media industry is in a transitional moment — from streaming to traditional TV — and the focus needs to be on ending the writers and actors' strikes, Warner Bros. The comments came a day after Warner Bros. The work stoppage has halted production on Hollywood sets, impacting companies like Warner Bros. Warner Bros. Still, like its peers, Warner Bros.

Persons: David Zaslav, Zaslav, Goldman Sachs, Warner, Max, — Organizations: Warner Bros, Discovery, Technology, Writers Guild of America, Hollywood, Warner, Warner Bros . Discovery, NBA, Max, CNBC, Major League Baseball, AMC Networks, CNN

☆ IPG Mediabrands 'privacy alert' says clients should 'consider' a pause on Google ads product
▼ + stars: | 2023-08-17 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +18 min

Google has disputed the Adalytics report, with a spokesperson describing it in a statement to Insider as "deeply flawed and misleading." An IPG Mediabrands spokeswoman said it was not accurate to say the agency was recommending a pause on any Google product. "What worries me about this Adalytics report is that Performance Max campaigns have allegedly been observed to run on made-for children inventory," Schreurs said. The article also refers to research undertaken by 3rd party (Adalytics) and the Adalytics report also mentions the following IPG/MB clients: 1. GAF For several of the above clients, the Adalytics report references that IPG/Matterkind placed the ad.

Persons: Max, IPG Mediabrands, Adalytics, wasn't, IPG, Ruben Schreurs, Schreurs, Edward J, Markey, Marsha Blackburn, Dyson, Matterkind, Biden's Organizations: Google, YouTube, The New York Times, Federal Trade Commission, COPPA, Republican, New York Times, Brand, Adalytics, NY Times, BMO, BMW, Nike, Intuit, Honda, FTC, United States, Association, MFK Locations: Massachusetts, Tennessee, United, MFK

☆ Inflation is falling and the end of rate hikes is in sight - so why are bond yields still rising?
▼ + stars: | 2023-08-17 | by ( Max Adams | ) www.businessinsider.com time to read: +4 min

The 10-year Treasury yield is firmly above 4% in August, helping to stall the stock market's strong 2023 rally. But with the end of rate hikes in sight as inflation keeps falling, yields should theoretically be doing the opposite. Here's why Treasury yields have been steadily moving up this month. Rising yields have dented the stock market's stellar 2023 rally, confounding and frustrating markets that see an end in sight to the Federal Reserve's rate hiking campaign amid dwindling inflation. "Our base case remains that the U.S. economy will slow down/contract due to the elevated interest rates caused by the Fed rate hiking campaign," LPL's Gillum said.

Persons: Lawrence Gillum, Brandon Hall, screech, LPL's Gillum Organizations: Treasury, Service, LPL, Fed, JPMorgan, Tech Locations: Here's, Wall, Silicon, Treasuries, U.S

☆ US stocks fall as Fed minutes show officials think hot inflation could still require more rate hikes
▼ + stars: | 2023-08-16 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation. Markets have been confident in their belief that the July rate hike was the last of the Fed's cycle. "The Fed wants to talk tough on inflation, but it's obvious they are done with rate hikes. "The July 26 rate hike was most likely not a one and done as the latest round of data suggests." The Fed will have another inflation report and another jobs report to sift through before it makes another policy decision.

Persons: Jamie Cox, Quincy Krosby Organizations: Service, Reserve, Harris Financial, LPL, Fed, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ US stocks whipsaw but close higher as Wall Street mulls Fed outlook after July CPI
▼ + stars: | 2023-08-10 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

US stocks closed higher Thursday but gave up their biggest gains as traders assess July CPI data. Inflation last month came in at 3.2%, higher than June but lower than what was expected. Markets are deciding if it was enough to warrant a full pivot by the Fed away from tight monetary policy. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Prices last month rose at a rate of 3.2%, slightly below expectations of 3.3%.

Organizations: Service, July's, Dow Jones, Investors, Federal Reserve, BNP, Nasdaq Locations: Wall, Silicon, Here's

☆ BlackRock and MSCI are facing congressional probes over facilitating investments in Chinese firms flagged by US for security concerns
▼ + stars: | 2023-08-01 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

BlackRock and MSCI are facing probes by lawmakers for facilitating investments in Chinese firms, the WSJ reported. The probes are related to investments in companies flagged by the US over security risks or human rights violations. The congressional panel said it found that American investors have funded 60 such companies and BlackRock has invested $429 million through five of its funds. The majority of our clients' investments in China are through index funds, and we are one of 16 asset managers currently offering US index funds investing in Chinese companies. With all investments in China and markets around the world, BlackRock complies with all applicable US government laws.

Persons: MSCI Organizations: BlackRock, Service, Wall Street, Chinese Communist Party, WSJ, US Locations: MSCI, China, Wall, Silicon, Xinjiang, US

☆ Palantir has built an 'AI fortress that is unmatched' and the stock is set to soar 54% as new industrial revolution begins, Wedbush says
▼ + stars: | 2023-07-28 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

Palantir stock is headed to $25 a share as the company builds an AI "fortress," Wedbush said. The company will be a major player in the AI boom in the next decade, the firm said. "As we begin the 4th Industrial Revolution, Palantir is engaging in the widespread trend of various industries leveraging recent generative AI innovations to streamline operations and improve expense profiles," the Wedbush analysts wrote. "This is early innings on a sum-of-the-parts AI story just on the cusp on monetizing this massive green field AI opportunity," it predicted. Palantir CEO Alex Karp has been a vocal proponent of the rapid development of AI even in the face of risks associated with the technology.

Persons: Wedbush, Wedbush's Dan Ives, Palantir, Messi, Ives, Lionel Messi, Alex Karp Organizations: Service, Wedbush Securities, New York Times Locations: Wall, Silicon, Tel, Argentine

☆ Activision Blizzard jumps 11% after judge rules Microsoft can buy the video game publisher in a win over FTC
▼ + stars: | 2023-07-11 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Activision Blizzard stock popped 11% after a judge paved the way for Microsoft to complete its takeover of the game publisher. She said the deal would in fact enhance access to popular game franchises like "Call of Duty" and other titles published by Activision. The company has said it is concerned that Microsoft will make popular franchises like "Call of Duty" exclusive to its consoles. Microsoft has said it doesn't intent to do this, but critics point to the firm's $11 billion takeover of Zenimax in 2021. The deal can now proceed before a hearing that the FTC had scheduled for August, in which it was set to challenge the merger.

Persons: Microsoft's, Jaqueline Scott Corley, Biden, Bobby Kotick Organizations: Activision Blizzard, Microsoft, Federal Trade Commission, Service, Privacy, US, FTC, Activision, That's, Sony, Xbox Locations: Wall, Silicon, Zenimax

☆ Dow jumps 300 points as US stocks rise ahead of important June inflation reading
▼ + stars: | 2023-07-11 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

US stocks closed higher on Tuesday as investors got ready for an important June CPI reading. The key inflation data will arrive Wednesday morning, ahead of the Fed's next policy meeting at the end of the month. Shares of Activision spiked in the session after a judge said Microsoft could buy the video game company. It comes ahead of the Federal Reserve's next policy meeting on July 25-26. Inflation has been falling steadily this year, and clocked in at a 4% year-over-year pace in May, the slowest rate in two years.

Persons: they're Organizations: Activision, Microsoft, Service, Federal, Activision Blizzard, Federal Trade Commission Locations: Wall, Silicon

☆ The stock market's gains are almost entirely concentrated in the 'Magnificent 7' - and that could mean a crash is coming
▼ + stars: | 2023-06-30 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Have you heard of the Magnificent Seven? This handful of Big Tech stocks have accounted for nearly all the market's gains in 2023. The names that make up the so-called Magnificent Seven are now the seven biggest US-listed stocks. Are you buying or selling the Magnificent Seven? Strategists from Goldman Sachs made the case for names they think will be low in volatility and high in returns.

Persons: I'm Phil Rosen, It's, you'll, let's, Tesla, there's, Minerva, Kathleen Brooks, John Hussman, Hussman, ANGELA WEISS, Goldman Sachs, Russell, Xi Jinping, Everyone's, Cleo Capital's Sarah Kunst, Phil Rosen, Max Adams, Hallam Bullock Organizations: Twitter, LinkedIn, Lionsgate, Nvidia, Tesla, Meta, Microsoft, Big Tech, Apple, Hussman Investment Trust, Getty, PLC, Costco Locations: New York, London

☆ Americans aren't spending like they used to
▼ + stars: | 2023-06-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

You can also download the app to get notifications about our biggest markets stories. Spending has remained elevated even through the Fed's 10 straight rate hikes, but warning signs of a change have started to surface. That's going to further take the wind out of Americans' brisk spending over the last few years. From David Rosenberg to Rob Arnott, experts are sharing what the disruptive technology can mean for the economy, jobs, and stock market. The biggest companies and banks can't agree on where the stock market is heading next.

Persons: I'm Phil Rosen, You'll, let's, Derek Davis, Patek Pilippe, Audemars, Jerome Powell, Brian Moynihan, Morgan Stanley, Andy Ryan, Pablo Hernández de Cos, David Rosenberg, Rob Arnott, Stocks, Russell, Goldman Sachs, Phil Rosen, Max Adams, Hallam Bullock Organizations: Big Apple, Portland Portland Press, Getty, Rolex, Bloomberg, Bank of America, Bank of Spain, Fed, Wall Street, Royal, Nvidia, Tesla, Morningstar Locations: Madrid, Phoenix, Miami, Royal Caribbean, New York, London

☆ The Federal Reserve thinks catastrophe is coming for US businesses
▼ + stars: | 2023-06-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

One report, written by the Federal Reserve's own economists, left me with not exactly an upbeat outlook. Federal Reserve Board Chair Jerome Powell testifies during a House Committee on Financial Services hearing, Wednesday, July 18, 2018, Capitol Hill in Washington. That is, more than a third of companies could default in the coming months, thanks to tightening monetary policy. Basically, they are predicting that companies feel pain in times of policy tightening, especially those with weaker balance sheets to begin with. Investors should monitor these bearish signals to stay ahead of a potential sell-off in the stock market.

Persons: Phil Rosen, You'll, Jerome Powell, Jacquelyn Martin, Ander Perez, Orive, Yannick Timmer, Kevin Rendino, he's shorting, Goldman Sachs, Morgan Stanley, Max Adams, Hallam Bullock Organizations: Federal, Financial Services, Capitol, European Central Bank, Bloomberg, Bank of America, Barclays, Elon Musk's Locations: New York, Washington, London

☆ Home prices rose for third straight month in April, S&P Case-Shiller index says
▼ + stars: | 2023-06-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Home prices in April were still down 0.2% compared with April 2022, according to the S&P CoreLogic Case-Shiller national home price index. A major jump in mortgage rates last summer caused a decline in prices. "The ongoing recovery in home prices is broadly based," Craig Lazzara, managing director at S&P DJI, said in a release. Before seasonal adjustments, prices rose in all 20 cities in April, as they had also done in March. Seasonally adjusted data showed prices rising in 19 cities in April versus 14 in March.

Persons: Ryan Ratliff, Ryan Paredes, Ariadna Paredes, Craig Lazzara, DJI, homebuying, Danielle Hale, Realtor.com, we've Organizations: Estate, Max Advance Realty, Cleveland Locations: Cutler Bay , Florida, Miami, Chicago, Atlanta, Boston, San Francisco

☆ Russia's near-mutiny just cratered its currency against the dollar
▼ + stars: | 2023-06-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The near-mutiny in Russia this weekend had some unexpected consequences for currencies — more on that below. And yet — the Russian ruble still plunged 3% to a 15-month low on Monday, trading at one point near 87 per dollar. The Kremlin said there was a huge uptick in foreign currency demand across 15 regions in Russia, per Reuters. During the mutiny, Russian banks had cut their ruble exchange rates to over 100 per dollar, though they've since eased prices. What's your outlook for the Russian ruble by year-end?

Persons: Phil Rosen, You'll, Vladimir Putin, GAVRIIL, Yevgeny Prigozhin's, Wagner, Prigozhin, Andrei Belousov, Putin hasn't, Spencer Platt, Morgan Stanley, Billionaire Ron Baron, Warren, there's, Goldman Sachs, Elon, Max Adams, Hallam Bullock Organizations: SPUTNIK, Getty, Reuters, Wall Street Journal, Manchester United, Walgreens, Alliance Inc, Billionaire, Dow, Harvard, Bank of America, Elon Musk's Locations: New York, Russia, Moscow, Ukraine, —, Voronezh, Rostov, Lipetsk, London

☆ Housing market inventory keeps declining and that's bad news for homebuyers
▼ + stars: | 2023-06-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

We're revisiting housing inventory today because it's one of the key sticking points that's keeping home prices elevated and buyers wary. Get this: The housing market today has 39% fewer homes for sale than before the pandemic. Mortgage rates are currently about double what they were in 2021, when ultra-low rates fueled a home-buying boom. That could help influence mortgage rates to go even higher this year. People who are sitting on the sidelines, waiting for mortgage rates to decline, should know that's unlikely to happen in the foreseeable future."

Persons: I'm Phil Rosen, Jerome Powell, Joe Raedle, There's, Powell, Redfin's Chen Zhao, Edward Seiler, Tweet, JIM WATSON, Morgan Stanley, Steve Eisman, Larry Summers, Richard Branson's, Phil Rosen, Max Adams, Hallam Bullock Organizations: realtors, Mortgage Bankers Association, US, Getty, Fed, FedEx, Nvidia, Bloomberg, Treasury, Virgin Galactic Locations: homebuilding, New York, London

☆ Ex-Google CEO Eric Schmidt paid $67 million for a superyacht abandoned by a sanctioned Russian oligarch
▼ + stars: | 2023-06-17 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Former Google CEO Eric Schmidt paid $67.6 million at auction for a 267-foot superyacht. The boat was left moored in Antigua Bay by Andrey Guryev, a sanctioned Russian oligarch. Billionaire and former Google CEO Eric Schmidt won an auction Friday for the 267-foot Alfa Nero, paying $67.6 million for the superyacht that had been "abandoned" in Antigua Bay by a sanctioned Russian oligarch. Schmidt was the CEO of Google from 2001 to 2011, and stepped down as chairman of Google parent Alphabet in 2018. Representatives for Schmidt didn't immediately respond to a request for comment from Insider, made outside normal working hours.

Persons: Eric Schmidt, Andrey Guryev, Nero, Sir Ronald Sanders, Schmidt, Guryev, Vladimir Putin, Guryev's, Mr Guryev, Alfa Nero, Beck Diefenbach, Schmidt didn't Organizations: Google, Russian oligarch, Bloomberg, Morning, Barbuda Port Authority, Boat, US Treasury Department, Guryev, Alfa, Reuters Officials, International . Locations: Antigua Bay, Russian, Antigua, Barbuda, Ukraine, Falmouth Harbor

☆ There's one big reason why housing inventory is so tight right now
▼ + stars: | 2023-06-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

A lot of moving parts today — we've got stories on Tesla, Microsoft, housing and more. Pretty much everyone with a mortgage is paying a lower rate than what's being offered today. That's compared to about 6.7% you can expect to pay on a new 30-year home loan today. Elon Musk has been shirking rent payments for Twitter, and that's creating problems for Goldman Sachs. She bought a home in Detroit for $6,300 — then figured out how to scale to 35 units and achieve financial freedom.

Persons: I'm Phil Rosen, we've, Let's, Elon Musk, Goldman Sachs, Musk, they're, Javier Milei, Jeff Bezos, Phil Rosen, Max Adams Organizations: Microsoft, Twitter, Columbia Property, Miami University, Elon Locations: Redfin, Detroit, Russia's, Argentina, New York

☆ A trader says he got insider info from an ex-Goldman Sachs exec while playing drunk squash
▼ + stars: | 2023-06-16 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

A trader says he got tipsy and received some insider info from a buddy while playing squash. The details were revealed at a court hearing this week in an insider trading case against a former Goldman Sachs trader. A former Barclays trader testified against Brijesh Goel, who revealed info on a company that was about to be acquired. During the game, Goel told Niranjan about a company called Lumos Pharma and recommended buying options. According to Bloomberg, Goel says he's been set up by Niranjan, who he claims is looking to avoid punishment for insider trading.

Persons: Goldman Sachs, Brijesh Goel, —, Goldman, Akshay Niranjan, Goel, Niranjan, Lumos, he's, Bloomberg's Organizations: Barclays, Service, Lumos Pharma, Bloomberg Locations: Manhattan

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