Author: starbpo

The stock of Tesla Inc. had its longest winning streak in over a year on Tuesday, ending at its highest level since October. Dow Jones Market Data shows that the company’s stock TSLA, +3.71% went up 3.7% on Tuesday, making it 10 days in a row that it has gone up. This is the longest run of consecutive gains since June of last year, when it went up for 13 trading days in a row. The stock is up 43.7% in the last 10 trading days. It has been 10 days since Tesla’s stock rose 48.1%, which was the best…

Beryl hit land as a Category 1 hurricane on Monday off the coast of Texas. Since then, it has pummeled the Lone Star State, cutting power to millions of people and causing damage. An official report from the Associated Press said that Beryl, which became a tropical depression on Monday, killed several people in Texas and at least one person in Louisiana. According to the National Oceanic and Atmospheric Administration, Beryl became a Category 5 storm unusually early in the year, in part because the water temperatures were so high. It was the first hurricane of the 2024 Atlantic hurricane…

This year, U.S. stocks have really gone up, with the S&P 500 producing a 17.7% return and its IT sector producing a 34.2% return, both with dividends reinvested. But some tech companies have been left behind, which could be good for investors who want to find deals. You probably already know that the S&P 500 SPX is based on market capitalization and has a lot of very concentrated stocks. The three biggest companies by this measure are now together making up 21% of the SPDR S&P 500 ETF Trust SPY. They are Microsoft Corp. MSFT, -1.44%, Apple Inc. AAPL, +0.38%,…

Based on the latest price-target raise on Wall Street, Nvidia Corp.’s stock could go up by another 37%. In a report released on Tuesday, KeyBanc Capital Markets analyst John Vinh raised his price target on Nvidia shares NVDA, +2.48% from $130 to $180. He did this because he was optimistic about the company’s new Blackwell chip lineup’s ability to bring in money. The GB200 chip from Nvidia, which is part of the Blackwell family, could bring in more than $200 billion for data centers in 2025, he said. “Demand for AI has not stopped,” Vinh wrote. At one point in…

Many investors and traders are still optimistic that U.S. inflation will go down when the consumer price index for June comes out on Thursday. At the same time, Wall Street is talking about how a second term for Republican Donald Trump could make prices go up. Before the CPI report comes out in a few days, two different ideas are forming about where U.S. inflation is likely to go in the coming months and years. This makes it harder for the Federal Reserve to figure out the best way to raise interest rates, which are still at 23-year highs of…

Skydance Media’s offer to buy out Paramount Global seemed to be the end of their long and winding road to a sale. These companies and a key shareholder backed the bid. An extra group of Paramount’s board members voted in favour of merging with David Ellison’s Skydance studio. Skydance would buy National Amusements, which is owned by Shari Redstone and controls Paramount. This is the first step in the deal. After that, Skydance and Paramount would join together. “In 1987, my dad, Sumner Redstone, bought Viacom and started putting together and growing the companies that are now called Paramount Global.”…

According to BofA Global Research, professional stock pickers who run U.S. stock mutual funds had a rough month of June. In the first half of the year, only a small majority beat their benchmarks. For the second month in a row, actively managed U.S. large-cap mutual funds did worse than their benchmarks in June. According to a July 2 note from BofA strategists, only 40% of managers beat their Russell 1000 benchmark RUI. They wrote that as of June, 55% of these funds were ahead of their benchmark, which is “well above the annual average of 37%.” The U.S. stock…

Many things at the store are still more expensive even though corporate America is getting ready to report its second-quarter results this week. Still, it’s harder to get loans and buy a house. Some market movements have been caused by the upcoming U.S. election. Voters seem to be turning away from President Joe Biden after how poorly he did in last month’s debate against Donald Trump. But since big banks like JPMorgan Chase & Co. and airlines like Delta Air Lines Inc. led the way, Wall Street experts say it will be fine for many of the biggest companies to…

Is he going to do it or not? It’s still unclear what will happen to Joe Biden as the Democratic nominee and maybe even as president for the rest of his term. Democrats are still calling for him to step down after his terrible performance in the June 27 TV debate. In an interview with ABC News on Friday, Biden said that he would stay in the race and that only the “Lord Almighty” could get him to quit. However, Democrats in Congress and some major donors have asked him to think about whether he should stay in the race.…

On Monday, French stocks and bonds went down after voters unexpectedly turned down the far-right party that had been leading in the first round of voting. The second-largest economy in the eurozone now looked like it would be months of negotiations for control of the country’s legislature. The French 10-year bond yield BX:TMBMKFR-10Y went up by 5 basis points, while the CAC 40 FR:PX1 fell by 0.4% at the start of the day. Still, at 64 basis points, the difference between 10-year French and German government bonds was pretty stable. In the 577-seat legislature, the left bloc won at least…