Author: starbpo

The quarterly loss for Rivian Automotive Inc. was bigger than expected, and the revenue was lower than expected. However, the company stuck to its sales and production forecast, and the stock managed to gain 1.6% after hours. Rivian RIVN 0.55% also lowered its adjusted EBITDA forecast for the year to a loss of $2.825 billion to $2.875 billion. Profits have gone down because Rivian’s Normal, Ill., plant has “limited ability to leverage the fixed costs” and expects to make less this year. Garrett Nelson, an analyst at CFRA, said in a note that even that lower estimate is “unrealistic.” Rivian…

In a short answer to reporters’ questions about the president-elect, Jerome Powell, the head of the Federal Reserve, said Thursday that he would not quit if asked to by Donald Trump. Powell avoided questions about how the election might affect policy at a news conference held after the Federal Reserve decided to lower its benchmark interest rate by a quarter-point. But when asked if he would quit if Trump asked him to, he very simply said, “No.” In 2017, Trump chose Powell to be Fed chair instead of Janet Yellen for a second term as head of the central bank.…

Even though the votes on Tuesday are over, there are still some House races where the winners will decide the future of U.S. tax policy. The nonpartisan Cook Political Report says it’s likely that Republicans will keep their slim majority in the House. The betting markets also agree, giving that body of Congress a high chance of staying red. The Associated Press hadn’t made a call on that front as of Thursday afternoon, though, because the winners of more than two dozen House races hadn’t been named yet. Republicans are likely to focus on using a budget process called “reconciliation”…

People who were upset about prices going up too fast, especially house costs, helped put Donald Trump back in the White House. What, though, will a second Trump president mean for people who buy and sell homes? In the short term, this means higher mortgage rates. However, experts told MarketWatch that in the long term, another Trump administration could mean less government oversight and more tax breaks for everyone. The chief economist at the Mortgage Bankers Association, a trade group, told MarketWatch, “There’s likely to be two sides of the coin.” According to Fratantoni, Trump’s policies could lead to more…

Tesla Inc. shares are going through the roof on Wednesday because investors think that Donald Trump’s second term as president will be good for the company that makes electric cars. A Republican government might not seem like a good thing for electric vehicle (EV) makers, but according to the Associated Press, Elon Musk, CEO of Tesla TSLA 14.75%, is close with Trump, who won the 2024 election. Musk was with Trump on the night of the election. As of this morning, Wednesday, Tesla’s price is up more than 12%. Dow Jones Market Data says that the stock is on track…

The prediction that Qualcomm Inc. made for the current quarter and the news that it was increasing its buyback program by $15 billion on Wednesday shocked Wall Street. The chip company thinks it will make between $10.5 billion and $11.3 billion in the December quarter. The middle point of Qualcomm’s QCOM 4.27% outlook is a lot higher than the $10.6 billion that FactSet thought it would be. Qualcomm also thinks that its adjusted earnings per share for the quarter will be between $2.85 and $3.05. Analysts were expecting $2.86. Qualcomm stock went up 6.3% after the market closed on Wednesday.…

After Donald Trump won the election, U.S. stocks and bitcoin went through all-time highs, the dollar went through the roof, and Treasury bonds sold off strongly. There was no way to get around the Trump trade on Wednesday. That is, assets that had gone up in value because people thought Trump would win kept going up, while assets that had gone down in value sped up their decline. This showed that a victory hadn’t been fully priced into the market. It also showed happiness that the election had given a clear result. “Uncertainty is bad for the markets, and now…

There’s already a big event today: the Fed decides on interest rates. This comes just one day after the best stock market gain since 1896 after an election. Stan Druckenmiller, a famous trader, says that he has recently made one big macro call that was right and one big macro call that was wrong. “I was sure that inflation would go down when this whole inflationary episode started, which was about two or three years ago. I was wrong about that, but I was right about being worried about the economy,” Druckenmiller told Nicolai Tangen, CEO of Norges Bank Investment…

The chart implies a link between the rise of AI and a dramatic decline in U.S. job openings. But one economist says that interpretation misses the mark. A viral chart is giving viewers the wrong impression about the relationship between the labor market and the rise of AI, one economist said. A viral chart that has been bouncing around social-media platforms like X over the past few weeks has caught the attention of investing professionals and amateur observes alike. On the surface, it purports to show a link between the rise of artificial intelligence and the increasingly precarious state of…

In October, Ford’s electric F-150 Lightning pickups sold less than 2,000 units. According to persons familiar with the situation, the Wall Street Journal said Thursday that executives at Ford Motor Company are thinking of discontinuing the electric variant of the automaker’s F-150 pickup vehicle. Due to a fire at an aluminum supplier’s plant, Ford (F) had already stopped producing the F-150 Lightning and was instead concentrating on gas-powered and hybrid versions of the truck. For many years, the F-150 has been the top-selling car in the US. The F-150 Lightning would become one of the first and most noticeable victims…