Markets

Snap stock dropped as much as 20% on Wednesday following bleak earnings. It’s the fifth consecutive quarter the Snapchat parent has seen a double-digit decline after earnings. The stock is down almost 90% from its peak in 2021.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while… Continue reading Snap stock is facing a double-digit sell-off after earnings for the 5th straight quarter. Here’s why investors are panicking.

Alphabet surged as much as 7% on Wednesday, adding about $111 billion to its market valuation.The search giant reported second-quarter earnings that beat analyst estimates and talked up its AI developments.”This is our seventh year as an AI-first company, and we intuitively know how to incorporate AI into our products,” CEO Sundar Pichai said. Loading… Continue reading Alphabet adds $111 billion in market value after showing progress on AI front in 2nd-quarter earnings

Microsoft most recent earnings results failed to impress investors, with the stock falling about 3%.But Wall Street analysts are bullish on the company’s heavy focus on artificial intelligence.”AI offerings are expected to contribute meaningfully for both Azure and Office,” Bank of America said. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading ‘AI momentum building in Redmond’: Here’s how Wall Street is reacting to Microsoft’s earnings report

Filip De Mott (Photo by Mario Tama/Getty Images) Stock rose on Tuesday ahead of earnings reports from Alphabet and Microsoft. Investors are also preparing for another possible rate hike from the Fed on Wednesday.  Consumer confidence for June hit the highest level since July 2021. Loading Something is loading. Thanks for signing up! Access your… Continue reading Dow notches 12th straight win as US stocks rally ahead of Fed policy decision

More people are moving into disaster-prone areas than moving out, Redfin reported. That’s as these regions have a larger housing inventory and an uptick in construction. Almost half of recently moved Americans think climate risks may impact home prices. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed… Continue reading The housing affordability crisis has boosted migration to areas vulnerable to floods, wildfires, and extreme heat

The Dow Jones Industrial Average is in its longest win streak since February 2017.The index has jumped 11 days in a row, delivering investors a gain of just over 5%.Carson Group’s Ryan Detrick observed that win streaks from the Dow suggest there is no recession in sight. Loading Something is loading. Thanks for signing up!… Continue reading The Dow’s longest win streak since 2017 is another sign that suggests there is no recession in sight

Elon Musk rebranded Twitter to X this week. It led to a price spike for some X-branded crypto tokens. One token saw a 1,200% rally after Musk’s announcement, even though the project had shut down in May.  Newer X-branded tokens also appeared on crypto exchanges following the rebrand of Musk’s company.  Loading Something is loading.… Continue reading Elon Musk’s Twitter rebrand sparks massive rallies in obscure crypto tokens with ‘X’ names

Russian buyers are ordering significant amounts of Chinese military equipment, Politico reported. The country has imported over $100 million in drones from China this year alone, the report said. China is using loopholes for equipment that can have both civilian and military use, it said. Loading Something is loading. Thanks for signing up! Access your… Continue reading A sanctions loophole is allowing China to quietly send millions of dollars worth of military gear to Russia