DIRS.INFO The most relevant business & tech news

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 10 (Reuters) - EU countries and European Parliament lawmakers are set to agree on light touch rules for Airbnb (ABNB.O) next week, three people familiar with the matter said on Friday. The rules for short-term accommodation rental services, proposed by the European Commission last year, aimed to tackle the patchwork of different national laws across the 27-country zone regulating Airbnb and similar companies. Officials from EU countries and EU lawmakers will meet to thrash out the final details of the rules on Nov. 15, according to the Parliament agenda. Airbnb said EU-wide rules would be a watershed moment for short-term rental companies. Paris, Venice, Barcelona and other places popular with tourists blame Airbnb for aggravating housing shortages by pushing out lower-income residents.

Persons: Dado Ruvic, Airbnb, Nathan Blecharczyk, Foo Yun Chee, Kirsten Donovan, David Evans Organizations: REUTERS, Rights, Big Tech, European, Reuters, Thomson Locations: Rights BRUSSELS, Spain, Paris, Venice, Barcelona

☆ Airbnb: Italy threatens to seize more than $800 million over unpaid taxes
▼ + stars: | 2023-11-07 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +3 min

Rome CNN —Italian tax authorities are poised to seize some €779 million ($836 million) from Airbnb as a result of its alleged failure to pay taxes owed by landlords using the platform. Prosecutor Marcello Viola told Italian reporters Monday that three people who were administrators for Airbnb in Italy also face unpaid tax charges. A spokesperson for Airbnb told CNN Tuesday: “Airbnb Ireland has been in active discussions with the Italian tax agency since June 2023 to resolve this matter. In 2017, Google, owned by Alphabet (GOOGL), agreed to pay Italy €306 million ($327 million) to cover taxes for the years 2009 to 2015. And in 2015, the country worked out a similar unpaid tax deal with Apple (AAPL) worth €318 million ($340 million).

Persons: Rome, Airbnb, Marcello Viola, “, won’t, Giorgia Meloni, Airbnb —, Antonio Tajani, — Anna Cooban Organizations: Rome CNN, Union, Airbnb, CNN, ”, Google, Italy €, Apple Locations: Airbnb, Europe, United States, Milan, Ireland, €, Italy, Italian, New York City, Italy’s

☆ Italy judge seizes 780 mln euros from Airbnb in tax probe
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] A woman talks on the phone at the Airbnb office headquarters in the SOMA district of San Francisco, California, U.S., August 2, 2016. REUTERS/Gabrielle Lurie/File Photo Acquire Licensing RightsROME, Nov 6 (Reuters) - An Italian judge has ordered the seizure of 779.5 million euros ($836.40 million) from short-term rentals platform Airbnb's Ireland unit for alleged tax evasion, Milan prosecutors' office said on Monday. The probe concerns Airbnb's (ABNB.O) alleged failure to withold 21% of landlords' rental income and pay it to Italian tax authorities, as required by a 2017 law, prosecutors in the northern Italian city said in a statement. Airbnb's Italian press office did not immediately reply to a request for comment. Prime Minister Giorgia Meloni's administration is meanwhile planning a crackdown on tax cheating on short-term rentals, and wants to raise taxes from 21% to 26% for owners of multiple short-term rental properties.

Persons: Gabrielle Lurie, Milan, Giorgia, Emilio Parodi, Alvise, Chris Reese, Franklin Paul, Tomasz Janowski Organizations: REUTERS, Rights, EU, Justice, Thomson Locations: SOMA, San Francisco , California, U.S, Italian

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - Airbnb (ABNB.O) forecast fourth-quarter revenue slightly below Wall Street estimates on Wednesday, as tourists scale back on travel due to rising costs, uncertain economic conditions and geopolitical turbulence. However, that slice of revenue is moderating as more companies push their employees to return to the office. The San Francisco-based company forecast fourth-quarter revenue between $2.13 billion and $2.17 billion, below average analysts' estimate of $2.18 billion, according to LSEG data. Airbnb's third-quarter revenue rose 18% to $3.4 billion from a year earlier, while its gross bookings rose to $18.3 billion. Its revenue rose 18% to $3.4 billion, compared with average analysts estimate of $3.37 billion.

Persons: Dado Ruvic, Airbnb, Priyamvada, Anil D'Silva Organizations: REUTERS, Asia Pacific, Thomson Locations: San Francisco, United States, North America, Asia Pacific, China, Asia, America, Bangalore, New York

☆ New Biden target in junk fee crackdown: retirement advisers
▼ + stars: | 2023-10-31 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

The proposed Labor Department rules require retirement plan providers to only sell commodities and insurance products, such as annuities, to clients when doing so is in the customer's best interest. "Financial advisors should put savers best interest first, and not sell them lower returning products in order to maximize their own fees," Lael Brainard, director of the White House National Economic Council, said. "When a retirement saver pays for trusted advice that is actually not in their best interest and comes at a hidden cost to their lifetime savings, that's a junk fee," Brainard said. Taking on "junk fees" gives Biden and his allies fodder to show they are helping people tackle costs as many Americans are dissatisfied with his economic stewardship. The proposed rule would ensure that retirement advisers must provide advice in the saver’s best interest, regardless of whether they are recommending a security or insurance product and where they are giving advice, senior administration officials said.

Persons: Joe Biden, Leah Millis, Biden, Lael Brainard, Brainard, doesn't, Jarrett Renshaw, Michael Perry Organizations: Artificial Intelligence, White, REUTERS, Labor Department, National Economic Council, Securities, Exchange Commission, Thomson Locations: Washington , U.S, IRAs

☆ Morning Bid: Markets hold their nerve amid Mid East trouble
▼ + stars: | 2023-10-30 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Oct 30 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Most talk is it will stay on hold this time, but will discuss laying the groundwork for an eventual shift. Any tweak would see Japanese yields rise and add to the pain being felt in the Treasury market, where 10-year yields nudged up to 4.87% on Monday with scant sign of any safe haven bid. Analysts at NatWest Markets expect $885 billion of marketable borrowing in Q4 and $700 billion in Q1. It is also notable that the borrowing kept climbing even though the economy surprised everyone with its strength.

Persons: Wayne Cole, It's, Eli Lilly, Luis de Guindos, Erik Thedéen, Muralikumar Organizations: Nikkei, Bank of Japan, Ichi, Insurance, Reuters, Treasury, NatWest Markets, Federal Reserve, Apple, Thomson Locations: Wayne, Gaza, China

☆ Jobs and earnings are major themes next week as we consider more portfolio moves
▼ + stars: | 2023-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.

Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S

☆ Italy to raise taxes for flat owners doing multiple short-term rentals
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

ROME, Oct 28 (Reuters) - Italy's government plans to hike taxes on short-term rentals by people letting out more than one flat, a draft of the 2024 budget seen by Reuters showed on Saturday. The move comes in the wake of criticism of Airbnb (ABNB.O) and other short-term rental platforms for contributing to a shortage of affordable housing for residents in the most popular tourist destinations. Italian legislation allows owners to rent out their apartments and pay a tax rate of 21% on earnings. Prime Minister Giorgia Meloni intends to raise that band to 26% "in the case of the short-term rental of more than one apartment in each tax period," the draft showed. However, the government has scaled back its initial plans as previous drafts reported by Reuters envisaged increased taxation also applying to short-term rentals of single apartments.

Persons: Giorgia Meloni, Meloni, Giuseppe Fonte, Keith Weir Organizations: Reuters, Thomson

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 25 (Reuters) - Hilton Worldwide Holdings (HLT.N) beat Wall Street estimates for third-quarter revenue and lifted its annual forecast on Wednesday, as record lodging prices and higher occupancy levels boosted results. Hotel and resort operators are benefiting from the global rebound in travel as consumers continue to plan vacations despite inflation and the higher cost of travel compared to pre-pandemic. Hilton's revenue per available room in the third quarter saw significant recovery in Asia, up 65.5% compared to the year earlier. The company's third-quarter revenue rose to $2.67 billion, exceeding the average Wall Street estimate of $2.64 billion, according to LSEG data. It expects full-year revenue per room to increase between 12.0% and 12.5% compared to 2022.

Persons: Brendan McDermid, Christopher Nassetta, Hilton, Priyamvada, Shounak Dasgupta, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Hilton Worldwide Holdings, Hilton, Waldorf Astoria Hotels & Resorts, Marriott International, Thomson Locations: New York, U.S, Asia, Bengaluru, Doyinsola

☆ UK extends deadline on in-depth probe into Adobe's $20 bln deal for Figma
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Figurines are seen in front of displayed Adobe logo in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 25 (Reuters) - Britain's competition regulator, on Wednesday, extended by eight weeks the deadline to complete its in-depth probe into Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma, to February 2024. The CMA now has until Feb. 25 to conclude its investigation, compared to the earlier deadline of Dec. 27. In September 2022, Adobe announced a cash-and-stock deal for Figma, the biggest buyout of a privately owned software startup. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Sherry Jacob, Phillips, Savio D'Souza Organizations: REUTERS, Adobe, Markets Authority, CMA, Figma, Zoom Video Communications, Airbnb Inc, Thomson Locations: Bengaluru

☆ Canada targets Airbnb, others to ease rental shortage
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Susana Vera/File photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada will take steps in the coming weeks to ease a rental-unit shortage exacerbated by Airbnb (ABNB.O) and other short-term rental platforms, Finance Minister Chrystia Freeland said on Tuesday. Freeland said the government is examining options to ensure more short-term rentals become available as long-term rentals. Cities around the United States are more closely regulating short-term rentals, including by requiring hosts to obtain licenses and pay registration fees. In that province, there are 28,000 daily active short-term rental listings, up 20% from a year ago. Freeland's comments come a day after the banking regulator Office of the Superintendent of Financial Institutions shelved some planned mortgage rules related to tighter regulatory limits on debt-service coverage.

Persons: Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Airbnb, David Ljunggren, Nivedita Balu, Alistair Bell, Rod Nickel Organizations: Finance, IMF, World Bank, REUTERS, Rights OTTAWA, British Columbia, Thomson Locations: Marrakech, Morocco, Canada, United States, Florence, Italy, Byron, British, Freeland, Toronto, Vancouver, Montreal, Ottawa

☆ Gen Z is reshaping the future of travel — These stocks will benefit
▼ + stars: | 2023-10-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

If travel companies want to capture the business of Gen Z travelers, they'll have to rethink their approach, according to research by Bernstein. Gen Z adults use TikTok and Instagram to make purchase decisions at more than double the rate of the average person, a Bernstein analysis found. While older generations may spend more money, younger Americans are booking more travel than Gen X and Baby Boomers. "Travel companies will need to cultivate their presence, rather than leaning on high conversion platforms like Google," he said. The vacation-rental platform has the highest skew to 18-24 year olds and 5.4 million Instagram followers, the highest among travel companies, he added.

Persons: Bernstein, —, Richard Clarke, Gen, Instagram, Clarke, — CNBC's Michael Bloom Organizations: Boomers

☆ KeyBanc downgrades Airbnb, says travel demand will ease after pandemic recovery
▼ + stars: | 2023-10-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to step to the sidelines on shares of Airbnb as the Covid-19 pandemic recovery bump fades, according to KeyBanc Capital Markets. ABNB 1D mountain Airbnb "Our call is that leisure travel has experienced a material recovery from 2021-2023E, resulting in outsized margin expansion, " Patterson wrote in a Monday note. "As these tailwinds fade, we see elevated risk to [room nights and experiences] and [average daily rate] growth." Airbnb has outperformed this year as a resilient consumer shelled out money for travel and experiences. "We believe this could create an overhang on shares as ABNB transitions from a growth to GARP investor base," Patterson said.

Persons: Justin Patterson, Patterson, Airbnb, — CNBC's Michael Bloom Organizations: KeyBanc, Markets Locations: Airbnb, New York City

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. A Labor Department report showed U.S. job openings unexpectedly increased in August, pointing to tight labor market conditions. Traders' bets on at least another 25-basis-point rate hike stood in November and December at 30% and 48%, respectively, according to CME's FedWatch tool. The CBOE volatility index (.VIX), known as Wall Street's "fear gauge", touched a more than four-month high, reflecting heightened investor anxiety. Declining issues outnumbered advancers for a 5.99-to-1 ratio on the NYSE and a 3.50-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Loretta Mester, Raphael Bostic, Jason Pride, KeyBanc, McCormick, advancers, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Dow, Nasdaq, Labor Department, Cleveland Fed, Atlanta, Traders, Apple, Reuters, Ofcom, Dow Jones, ADP, HP, BofA Global Research, Boeing, United Airlines, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Consumer discretionary (.SPLRCD) led declines in the major S&P 500 sectors, falling 2.2%, while beaten-down utilities (.SPLRCU) dropped 1.8%. Declining issues outnumbered advancers by a 4.74-to-1 ratio on the NYSE and by a 3.17-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 48 new lows, while the Nasdaq recorded 11 new highs and 225 new lows. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Eli Lilly, we're, David Russell, Raphael Bostic, Keybanc, McCormick, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Apple, Microsoft, Artificial Intelligence, Treasury, Boeing, Reuters, United Airlines, Labor Department, Investor, ADP, Atlanta Fed, Fed, Dow Jones, HP, BofA Global Research, Biopharma, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Here are Tuesday's biggest analyst calls: Nvidia, Rivian, Amazon, Airbnb, Warby Parker, HP, FedEx and more
▼ + stars: | 2023-10-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Tuesday's biggest calls on Wall Street: KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on Nvidia to $750 per share from $670 and said it sees "outsized growth." Bank of America adds FedEx to the US1 list Bank of America added the stock to its top picks list. "Upgrading Clean Energy Fuels (CLNE) from Outperform to Strong Buy, with the company on the cusp of ramping up in-house RNG production." JPMorgan reiterates Amazon as a top pick JPMorgan said ignore the noise and buy the dip in shares of Amazon. Bank of America initiates Dycom as buy Bank of America said in its initiation of the telecommunications infrastructure company that it's uniquely positioned.

Persons: KeyBanc, Ally, Evercore, bode, Stifel, Churchill, CHDN, Raymond James, Baird, Vestis, Piper Sandler, Tesla, IBKR, Morgan Stanley, Rivian, it's, Warby Parker, Booz Allen Hamilton, Goldman Sachs, Wedbush Organizations: Nvidia, Aclaris Therapeutics, ISI, Citi, Arista Networks, Arista, " Bank of America, FedEx, Bank of America, FedEx Corp, Owl Capital, Swift Transportation, Evercore ISI, TAM, Energy Fuels, JPMorgan, FTC, DOJ, HP Inc, underperform Bank of America, HPQ, UBS, Booz, of America, Emerson Electric, Warner Music Group, Apple, Constellation Brands Locations: China, CY23

☆ Ex-Apple designer Ive, OpenAI's Altman discuss AI hardware -The Information
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 26 (Reuters) - Apple's (AAPL.O) former design chief, Jony Ive, and OpenAI CEO Sam Altman have been discussing building a new artificial intelligence (AI) hardware device, The Information reported on Tuesday, citing two people familiar with the matter. SoftBank (9984.T) CEO Masayoshi Son has also been involved in some aspects of the conversation but it is unclear if he will remain involved, the report said. Ive and LoveFrom could not be reached for comment. Ive left Apple in 2019 and subsequently co-founded design firm LoveFrom with fellow designer Marc Newson.

Persons: Dado Ruvic, Jony Ive, Sam Altman, SoftBank, Masayoshi Son, OpenAI, Steve Jobs, Marc Newson, Evelyn Nikhila, Savio D'Souza Organizations: REUTERS, Apple, Ferrari, Microsoft, Thomson Locations: Bengaluru

☆ GGV Capital, a top Silicon Valley investor, is splitting off its China business as pressure mounts
▼ + stars: | 2023-09-22 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —GGV Capital, a prominent Silicon Valley venture capital firm, has become the latest big investor to break up its US and China operations into separate companies as tensions between the two countries over tech and geopolitics continue to rise. The other side will focus on China, Southeast Asia and South Asia, run from its headquarters in Singapore, by managing partners Jenny Lee and Jixun Foo. Jenny Lee, managing partner of GGV Capital, at a conference in Singapore in September. Lee will co-lead the Asia side of the business as it becomes its own firm, according to GGV. Asked whether the US order or wider geopolitical tensions had factored into its decision, GGV Capital declined to comment.

Persons: Glenn Solomon, Hans Tung, Jeff Richards, Oren Yunger, Jenny Lee, Jixun, Lee, Slack, ByteDance, Didi, Biden, “, ” Organizations: Hong Kong CNN — GGV, Jiyuan, GGV, Bloomberg, Getty, CNN, Sequoia Locations: China, Hong Kong, North America, Latin America, Europe, Israel, India, California, New York, Southeast Asia, South Asia, Singapore, Asia, United States, China’s Xinjiang, Dentons

☆ Meet Airbnb's official party pooper, who reduced partying by 55% in two years
▼ + stars: | 2023-09-19 | by ( Hayden Field | ) www.cnbc.com time to read: +15 min

In this article ABNB Follow your favorite stocks CREATE FREE ACCOUNTNaba Banerjee, Airbnb Source: Prashant Joshi | AirbnbNaba Banerjee is a proud party pooper. In June, the company was sued by a family who lost their 18-year-old son in a shooting at a 2021 Airbnb party. Airbnb's party problem was complex, and in some ways, she didn't know where to start. There's just one problem: Airbnb's AI system is working against you from the second you sign on. Zoom In Icon Arrows pointing outwards Airbnb's reservation screening system in action.

Persons: Naba Banerjee, Prashant Joshi, Airbnb Naba Banerjee, she's, It's, Banerjee, —, Airbnb, Nate Blecharczyk, strategizing, Covid, she'd, He'd, riskiest, They're, Brian Chesky, he'd Organizations: Airbnb, Day, Labor, CNBC, Australia Locations: Australia, Airbnbs, North America, Kolkata, India, U.S, Canada, Asia, Texas

A slew of recent hotter-than-expected economic data has eased recession concerns without raising fears of a September rate hike. "Further rate hikes would risk sending the economy into a hard landing," said Thomas Simons, U.S. economist at Jefferies. "Instead, the Fed can look to a strategy of maintaining current policy rates for a long time as the best way to administer restrictive monetary policy to the economy." ET, Dow e-minis were up 31 points, or 0.09%, S&P 500 e-minis were up 5.25 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.15%. Asset management firm Blackstone Inc (BX.N) and vacation rentals platform Airbnb (ABNB.O), which are set to join the S&P 500 before the bell on Monday, were down 0.5% and 0.1%, respectively.

Persons: Brendan McDermid, Blackstone, Thomas Simons, Goldman Sachs, Janus Henderson, Wells, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Micron, Deutsche Bank, Airbnb, Dow, Nasdaq, Federal Reserve, Traders, Jefferies, Morgan Asset Management, Janus Henderson Investors, Bank of England, Bank of, Dow e, Micron Technology, Blackstone Inc, L3Harris Technologies, Thomson Locations: New York City, U.S, Bank of Japan, Bengaluru

NYC hotel rates to go upNew York City has more than enough hotels to meet traveler demand, Davis said, citing an unprecedented supply of new hotel rooms in the city. "Since 2020, 10,000 new hotel rooms have been delivered, and over the next couple of years, another 10,000 new hotel rooms will be delivered to the city," he said. "So there's absolutely more than enough supply of hotel rooms to accommodate all the tourists that want to come to New York City." Knock-on effectFrom London to Paris and Dubai, cities across the world have regulated short-term rental markets. "It's certainly possible that they could follow the lead of New York City," Davis said.

Persons: we've, Kevin Davis, Davis, CNBC's Mandy Drury Organizations: Associated Press, New York City, JLL, Hospitality's, Google, New, & ' Locations: New York City, New York, Hospitality's Americas, airfares, United States, U.S, airfare, London, Paris, Dubai

With retail investors holding individual stocks for less than a year on average, recent history suggests they could lose money, a Reuters analysis shows. Even institutional investors invited to buy into those 10 IPOs before trading would be down an average of 18%. "For almost all retail investors, buying and holding a low-cost index fund is the best strategy." Arm's debut and an upcoming listing from grocery delivery service Instacart are expected to rejuvenate a lackluster IPO market which has slowed over the past two years due to volatility and economic uncertainty. Instacart will be offering some retail investors a chance to buy into its IPO via underwriter fintech company SoFi, its prospectus said.

Persons: Dado Ruvic, Japan's SoftBank Group's, Jay Ritter, Marco Iachini, it's, Ritter, Lance Tupper, Anirban Sen, Echo Wang, Michelle Price, Richard Chang Organizations: REUTERS, Retail, Holdings, Reuters, U.S, Investors, University of Florida, Nvidia, GameStop, Vanda Research, Instacart, IPOs, Thomson Locations: British, New York

With U.S. crude oil prices rallying on Tuesday, Nolte also cited recent strength in oil prices as a damper to the Fed's efforts to push inflation back to 2%. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The Dow Jones Transport index (.DJT) finished off 2.2%, weighed down by a slide in airline stocks as rising oil prices implied higher fuel costs. Shares of Airbnb (ABNB.O) rallied 7% while Blackstone (BX.N) added 3.6% on news that their stocks would join the S&P 500 index. The S&P 500 posted 12 new 52-week highs and 25 new lows; the Nasdaq Composite recorded 50 new highs and 142 new lows.

Persons: Blackstone, Christopher Waller, Paul Nolte, Murphy, Nolte, Sam Stovall, Brendan McDermid, Goldman Sachs, advancers, Sinéad Carew, Shristi, Arun Koyyur, Shounak Dasgupta, Richard Chang Organizations: Dow, Nasdaq, Monday, Monday . U.S, Treasury, Sylvest Wealth Management, Traders, Labor, CFRA Research, Dow Jones, New York Stock Exchange, REUTERS, Transport, United Airlines, U.S, Blackstone, Oracle, Barclays, NYSE, Thomson Locations: Monday ., Elmhurst , Illinois, New York City, U.S, Saudi Arabia, Russia, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The yield on the 10-year Treasury notes climbed to 4.25%, while two-year yield rose to 4.936%. Utilities (.SPLRCU) led declines among S&P 500 indexes, down nearly 2%, while China-exposed materials sector (.SPLRCM) fell 1.2%. Shares of Airbnb (ABNB.O) and Blackstone (BX.N) added 7.7% and 3.6%, respectively, as the companies were set to join the S&P 500 index. Declining issues outnumbered advancers for a 3.02-to-1 ratio on the NYSE and a 2.08-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Blackstone, Hugh Anderson, Alibaba, Christopher Waller, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Federal Reserve, HighTower Advisors, Labor, PDD Holdings, Baidu, Utilities, Nvidia, U.S, Traders, Federal, Dow Jones, Blackstone, Oracle, Barclays, NYSE, Thomson Locations: New York City, U.S, Las Vegas, Saudi Arabia, Russia, China, Bengaluru

The yield on the 10-year Treasury notes climbed to 4.23%, while two-year yield rose to 4.928% in the run-up to more economic data this week. "The recession is definitely delayed within the United States ... we are seeing fairly weak economic environments in both China and Europe." U.S. economic data since the Fed's July meeting has added to the impression the economy is cooling without cracking, likely bolstering the case against further interest rate increases. All three main U.S. stock indexes logged gains in the previous week after data pointed to a softening labor market. The S&P index recorded eight new 52-week highs and 13 new lows, while the Nasdaq recorded 27 new highs and 63 new lows.

Persons: Brendan McDermid, Blackstone, China stoked, Jason Pride, Alibaba, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Apple, PDD Holdings, Baidu, Labor, Traders, Dow Jones, Blackstone, NYSE, Thomson Locations: New York City, U.S, China, United States, Europe, Saudi Arabia, Russia, Bengaluru

Search resuls for: "ABNB"

25 mentions found