Author: starbpo

Last week’s 40,000-point mark on the Dow Jones Industrial Average was a big deal for investors. But thanks to earnings, a top Wall Street analyst thinks even bigger gains are on the way. Ed Yardeni, chief investment strategist at Yardeni Research, told clients in a note that the DJIA was on track to rise 50% to 60,000 by 2030 and that the S&P 500 SPX could rise to 8,000. Friday was the first time ever that the Dow closed above 40,000. The Dow has grown at a rate of 7% per year, while the S&P 500 has grown at a…

Target Corp. said on Monday that it would be lowering the prices of about 5,000 frequently bought items. They plan to do this again over the summer for another thousand items. The store is competing on price with Walmart Inc. WMT, -0.15%, which is a bigger company. This is happening at a time when Americans are having a hard time with inflation, which has made food, housing, and other necessities more expensive. Rick Gomez, executive vice president and chief food, essentials, and beauty officer at Target, said, “We know that people are under a lot of pressure to make the…

JERUSALEM — In the helicopter crash that killed Iranian President Ebrahim Raisi, the foreign minister, and other officials, the effects are likely to be felt all over the Middle East, where Iran has a lot of power. That’s because Iran has been supporting armed groups and militants in Lebanon, Syria, Iraq, Yemen, and the Palestinian territories for decades. This gives it power and could stop attacks from the US or Israel, which are both sworn enemies of the Islamic Revolution that began in 1979. Before last month, things were at their worst. That’s when Raisi and Ayatollah Ali Khamenei, Iran’s…

Trucks were no longer the most stolen cars in America last year; sedans took their place. But a lot of Hyundai and Kia 000270, +1.95% cars being stolen across the country caused the list of thieves’ favorite cars to change. The National Insurance Crime Bureau (NICB) is one of two groups that keep track of which cars are stolen the most. The numbers it gives don’t always match up with those from the Highway Loss Data Institute. There has been a consistent pattern in both for decades: the most common cars are the ones that are stolen the most. Part…

Li Auto, a Chinese company that makes electric cars, said it got fewer orders than expected in March, which caused its profit to drop in the first quarter. Li Auto said that its profit dropped 37% in the first quarter to 591 million renminbi, but sales went up 36% to 25.63 billion renminbi, which is $3.6 billion. It made 1.21 renminbi, or 17 cents, per share after all costs were taken into account. FactSet polled analysts and found that they thought the company would make 24 cents per share on sales of $3.69 billion. In pre-market trade, Li Auto shares…

A big name in the venture capital space says that up to half of the firms will go out of business or fail. Josh Wolfe, co-founder of the New York venture capital firm Lux Capital, says the shrinkage will be caused by broken partnerships and strategies that are “feckless” and too weak to fix. He also says that he is worried that investors have put too much faith in an asset class that is hard to sell. In the company’s letter to shareholders for the first quarter, Wolfe said that the industry has grown from about 1,000 companies in 2008…

A fight between Greenlight Capital and a former worker has caught the attention of people in the hedge fund world. The 29-year-old James Fishback says he was “head of macro” at the New York hedge fund. The company Greenlight Capital says that job never existed. Fishback was a high school debate champion who dropped out of Georgetown University to start his own hedge fund, Macrovoyant, when he was 21. In February 2021, he was hired to work at Greenlight Capital after having been a consultant for the New York fund. In the two and a half years he worked at…

Officials say that early Saturday morning, Houthi rebels in Yemen fired a ballistic missile at an oil tanker in the Red Sea. The attack damaged the Panama-flagged, Greek-owned ship and was part of the Houthi’s latest attack over the Israel-Hamas war in the Gaza Strip. Even though the Houthis didn’t claim the attack right away, they have already said they shot down another MQ-9 Reaper drone from the U.S. military over Yemen and attacked ships on a key sea route that leads to the Suez Canal and the Mediterranean Sea, which has slowed down trade. Around 1 a.m., the attack…

The United Arab Emirates city of Dubai State media said that President Ebrahim Raisi, the foreign minister, and other people were found dead Monday morning after their helicopter crashed in a foggy, mountainous area of the northwest of the country. Raisi was 63 years old. The crash happened while the Middle East was still in a state of chaos because of the war between Israel and Hamas. Last month, Raisi, led by Supreme Leader Ayatollah Ali Khamenei, launched an unprecedented attack on Israel using drones and missiles. Under Raisi, Iran brought uranium closer than ever to levels that could be…

Studios said Sunday that John Krasinski’s movie about imaginary friends, “IF,” took the top spot at the box office this weekend. Also, its $35 million North American opening was a little less than some people thought it would do. Does that make you sad? A bad sign for the movie theater business? Or is there still one more story to be written on “IF”? It’s not just in your head: This is the first week of the summer box office season in 2024, and so far nothing has been a huge hit. Every new movie is under more and more…