Author: starbpo

Early Monday morning, GameStop Corp. stock was up 7.6%, making up some of the losses from Friday. This was because the trader known as Roaring Kitty did his first YouTube livestream in three years. The meme-stock trend started in the early months of the COVID-19 pandemic, and Keith Gill was a big part of it. On Friday, he used a video stream to make his case again for the videogame store GME, -11.91%, which he thinks can change under CEO Ryan Cohen. Gill told the crowd, “I believe this guy—he might be able to do it.” The number of people…

Elon Musk said, “It’s not cool” that a big institutional shareholder has said it will vote against a resolution to give him a $56 billion bonus at next week’s annual meeting. Musk said that smaller individual investors in Tesla Inc. support the resolution. Musk said this on X over the weekend after Norges Bank Investment Management, Norway’s $1.7-trillion sovereign wealth manager, said it doesn’t agree with the pay package at Tesla TSLA, -0.88% that will be voted on at the end of the year. “While we recognize the great value created by Mr. Musk’s leadership, we are still worried about…

Get out of your Wednesday plans. On June 12, the May consumer-price index will be released at 8:30 a.m. Eastern, and then the Federal Reserve’s two-day policy meeting will end at 2 p.m. This is a double whammy for stock market investors. Each CPI day and Fed day has its own reputation for market volatility. Maybe good news for investors is that they won’t have to wait long for Fed Chair Jerome Powell to say what the central bankers think of the May inflation data. People think that policymakers will probably not change interest rates when the two-day meeting is…

Most of the time, Apple Inc.’s most-anticipated events are its iPhone launches. However, this year, Wall Street will be most interested in the company’s software-focused World Wide Developers Conference. Apple stock AAPL, -0.73% hasn’t changed much this year, so CEO Tim Cook will have to live up to high expectations in his keynote speech on Monday afternoon. It’s likely to include news about artificial intelligence. Wall Street is looking forward to something flashy from Apple since the company has been pretty quiet about the technology over the past year. In our opinion, WWDC is the most important event Apple has…

As they faltered, one of the public pension funds globally recently reduced its holdings of traditional automakers and loaded up on shares of well-known tech-related stocks. In the first quarter, the Canada Pension Plan reduced its holdings in Ford Motor and General Motors, nearly doubled down on Tesla stock, more than doubled its investment in Chinese electric vehicle maker NIO, and nearly tripled its investment in Apple. In a form it filed with the Securities and Exchange Commission, the pension’s manager, Canada Pension Plan Investment Board, also referred to as CPP Investments, disclosed the stock trades among other things. Regarding…

Ford CEO Jim Farley explains why the growth of hybrid vehicles is outpacing EV sales. The number of electric vehicles on the road is going down, which makes the business as a whole wonder if it’s spending billions of dollars wisely. Politics, the cost of cars, and the lack of charging stations have all been blamed. These problems are important, but Jim Farley, CEO of Ford Motor Company, says that battery-electric cars (BEVs) also have to deal with other problems. Farley told Barron’s, “We’re getting new customers, but most people aren’t willing to pay more for EVs.” “They have no…

Seven months after a driverless cab run by a subsidiary of General Motors hit and dragged a pedestrian 20 feet down a street in San Francisco, the robotaxi company quietly started running again in Phoenix in mid-May with only 12 vehicles. That’s only a small part of Cruise’s 950-car fleet that it used last year to take people from San Francisco to Austin. The reboot takes place on Phoenix’s wide, flat, and mostly calm roads. The self-driving cars now have a person behind the wheel and another on board in case something goes wrong. The relaunch of Cruise happens at…

When it comes to the economy and money, this week will be very important. The most important things that will happen in May are inflation figures and a decision by the Federal Reserve on interest rates. The CAPI for May will be released by the Bureau of Labor Statistics on Wednesday morning. The Federal Open Market Committee meets on Tuesday and Wednesday, and the report will give them more things to talk about. On Wednesday at 2 p.m. ET, the Fed will make a decision on monetary policy. Thirty minutes later, Fed Chair Jerome Powell will sit down with the…

Many experts thought the country was doomed to go into a recession after the inflation spike in 2022. The people in charge today don’t seem to be as worried. According to a FactSet analysis, the number of S&P 500 companies that used the word “recession” dropped to its lowest level since the fourth quarter of 2021. That’s when the crazy reopening of the economy after the pandemic messed up the job market and the world’s shipping infrastructure while huge corporate profit margins were made. FactSet found that 29 of these companies used the word “recession” on those recent calls. The…

One area of individual exchange-traded funds that is growing the fastest is alternative investments. Individual owners will probably feel bad about this. There was a report in the Wall Street Journal that the biggest discount broker in the U.S., Charles Schwab, said it would launch “an alternative investments platform for individual investors” later this year. Investors could use the tool to get into “private equity, venture capital, private credit, and hedge funds,” among other alternative investments. There’s no denying the appeal of these kinds of different investments, especially now that the U.S. stock market looks overvalued and the bond market…