Author: starbpo

On Monday, Broadcom Inc.’s stock got a big boost that helped it move even higher up the list of the biggest U.S. companies. The market value of Broadcom AVGO, +5.41% shares rose 5.4% on Monday, making the company worth more than Eli Lilly & Co. LLY, +0.75% for the first time in more than two years, according to Dow Jones Market Data. The chip company moved up to No. 8 on the list of the most valuable U.S. companies. Broadcom’s market value was over $847 billion at the end of the day, while Eli Lilly’s was over $841 billion. Broadcom…

People who own shares in GameStop Corp. asked about the company’s recent $2.14 billion stock sale and the future of the video game store at an annual meeting on Monday that was mostly uneventful and ended in less than 20 minutes. The company repeated what it had already said about its plans to cut costs and its strong balance sheet, but it didn’t say anything new about how it plans to grow in the future. CEO Ryan Cohen said that his goal is to build a “smaller network of stores.” He also said that the company’s strong balance sheet gives…

Rate cuts from the Federal Reserve are being pushed for by investors in the stock market, even though the S&P 500 has been on a record-breaking run even without them. Research from the Wells Fargo Investment Institute says investors should be careful about what they wish for because it has happened in the past. Austin Pickle, an investment strategist analyst at WFII, said in a Monday note that investors want rates to go down because the longer rates stay high, the higher the chance that something will break and bring down the economy or market in a big way. “However,…

PHOENIX — Arizona, New Mexico, and parts of Texas, Colorado, and Kansas were hit by extreme heat on Sunday. Bad weather also hit many other parts of the U.S. The Pacific Northwest was unusually cold for the time of year, the northern Rocky Mountains were expected to get snow, and the northern Plains and upper Midwest were expected to get a lot of rain. On Sunday, more than 63 million people, from the Southwest to Denver and up to Chicago, were warned about the heat, according to the National Weather Service. On Saturday, it got as hot as 112 degrees…

JERUSALEM — Israel’s military said on Sunday that it would stop fighting during the day along a route in southern Gaza. This is to make room for more deliveries of humanitarian aid to help the desperate Palestinians who are going through a humanitarian crisis caused by the war, which has been going on for nine months. The international community, including Israel’s biggest ally, the US, wants a full cease-fire in the area. The “tactical pause,” which covers more than seven miles of road in the Rafah area, is not even close to what they want. It might help meet the…

Stocks are expected to open slowly on Monday because this week will bring a small number of earnings reports as well as new data on housing and other economic indicators. The Dow Jones Industrial Average futures fell 24 points, or less than 0.1%, at 6:15 p.m. ET on Sunday. The S&P 500 futures also fell 0.1%, and the Nasdaq Composite futures stayed the same. This week’s big earnings reports come from Steelcase on Wednesday, La-Z-Boy and Lennar Corp. on Monday, and KB Home and Lennar Corp. on Tuesday. On Thursday, Accenture, Darden Restaurants (parent company of Olive Garden and Longhorn…

Some of the pain of high inflation has been eased by a steadily growing economy and low unemployment, but Americans with middle- and low-incomes say they are under more stress. A drop in the consumer sentiment index to a seventh-month low in June was the most recent sign. The drop was mostly caused by more stress among Americans with middle- and low-incomes. It’s not a big surprise that the difference between how Americans see the economy is getting bigger. As the stock market has gone up, richer households have more money saved up, and their “paper wealth” has grown. Rich…

This weekend, Disney and Pixar’s “Inside Out 2” made a huge splash, ending Hollywood’s worries about summer movies. Studios say that the animated follow-up made $155 million from ticket sales in 4,440 theaters in the U.S. and Canada on Sunday. Not only is it the biggest opening weekend for an animated movie ever (after “Incredibles 2” in 2018 with $182.7 million), but it’s also the biggest of 2024 and the biggest since “Barbie.” “Inside Out 2” had an amazing and record-breaking $295 million global start, with about $140 million coming from showings in other countries. As the head of Disney…

LOS ANGELES— Some of the biggest names in Hollywood headlined a fundraiser for President Joe Biden that, according to his campaign, raised more than $30 million for a Democratic candidate. They did this to get people excited about what they called “one of the most important races in U.S. history.” On Saturday night, people like George Clooney, Julia Roberts, and Barbra Streisand performed at the Peacock Theater in Los Angeles, which has 7,100 seats. Jimmy Kimmel, a late-night host, talked to Biden and former President Barack Obama. Both of them stressed how important it was to beat former President Donald…

OBBÜRGEN, Switzerland — On Sunday, almost 80 countries said that any peace deal to end Russia’s two-year war in Ukraine should be based on the country’s “territorial integrity.” However, some important developing countries at a meeting in Switzerland did not agree. It is still not clear how to move forward with negotiations. The joint communique was the end of a two-day meeting where Russia was not present because it was not invited. A lot of people there said they hoped Russia would join a plan for peace in the future. There has been a full-scale war since President Vladimir Putin…