Filip De Mott Spencer Platt/Getty Images US stocks finished lower after reversing earlier gains as Apple dragged down indexes. Apple stock tumbled 4.8% as quarterly revenue continued to drop. The monthly jobs report came in at 187,000, slightly under expectations for July. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading US stocks fall after erasing earlier gains as Apple sells off on earnings
Alphabet sold almost 90% of its Robinhood stake last quarter
Alphabet slashed its stake in Robinhood stock by nearly 90% in the second quarter, SEC filings show. The Google parent cut its stake from about 4.9 million shares to about 612,000. Robinhood is coming off its first-ever profitable quarter as a public company, but is losing active users. Loading Something is loading. Thanks for signing… Continue reading Alphabet sold almost 90% of its Robinhood stake last quarter
Russian oil and grain exports halted after Ukraine drone strike near Black Sea port
Ukraine launched a sea drone strike on a Russian naval ship near the port of Novorossiysk. The commodities shipping hub shut down for a few hours, halting exports of oil and grain. It follows a wave of Russian attacks on Ukraine’s ports and export facilities. Loading Something is loading. Thanks for signing up! Access your… Continue reading Russian oil and grain exports halted after Ukraine drone strike near Black Sea port
The US will be ‘drowning in debt’ over the next 30 years as interest costs rise
The government could be drowning debt over the next few decades, Renaissance Macro said in a recent research report. The debt-to-GDP ratio could nearly double to 181% by 2053, per Congressional Budget Office projections. “Rising debt + rising interest costs – debt servicing cost disaster,” the research firm said. Loading Something is loading. Thanks for… Continue reading The US will be ‘drowning in debt’ over the next 30 years as interest costs rise
The sluggish housing market is weighing on Redfin’s stock as home sales ‘near rock bottom’
Redfin stock plunged as much as 24% Friday following a downbeat earnings report. Second-quarter revenue dropped 21% compared to 2022. “Sales volume is near rock bottom,” CEO Glenn Kelman told analysts on Thursday. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Redfin… Continue reading The sluggish housing market is weighing on Redfin’s stock as home sales ‘near rock bottom’
After the Best Start in 26 Years, What Comes Next for Stocks?
Notwithstanding some recent weakness following a downgrade of the United State’s credit rating, stocks are off to their best start in more than a quarter of a century. The question now is whether the remarkable rally of 2023 can continue to run through year-end and beyond. It’s a perfectly reasonable question to ask. Thanks to… Continue reading After the Best Start in 26 Years, What Comes Next for Stocks?
Why Investors Needn’t Worry About U.S. Credit Downgrade
An exceedingly rare downgrade of the U.S. government’s credit rating sparked a selloff in stocks Wednesday, but experts say any longer term fallout for both the equity and debt markets should be muted. To recap: after the stock market closed Tuesday, Fitch Ratings cut the United States’ long-term foreign-currency issuer default rating by one notch… Continue reading Why Investors Needn’t Worry About U.S. Credit Downgrade
Stock Market Today: Dow Outperforms on Strong Caterpillar Earnings
Stocks were choppy Tuesday ahead of some high-profile earnings due out later this week and the July jobs report, set for release early Friday. Today, though, Wall Street weighed data from the manufacturing sector and the labor market, as well as solid earnings from blue chip stock Caterpillar (CAT). Shortly after the opening bell… Continue reading Stock Market Today: Dow Outperforms on Strong Caterpillar Earnings
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