Author: starbpo

Wall Street is getting more and more worried about the U.S. economy. The stress is also being felt by American families. If this week’s economic and earnings reports show that this is true, it could stop the stock market from recovering from its worst day in two years. On Friday, U.S. stocks ended a rough week in which the unwinding of a carry trade driven by the Japanese yen and fears of a weakening U.S. economy shook the world’s financial markets. At the end of the week, all major benchmarks were just short of reversing all of their weekly losses.…

Vince McMahon, iconic leader of WWE, stepped down from his role as executive chairman of the board of directors at TKO Group Holdings, WWE’s parent company, following a federal lawsuit filed by Janel Grant, a former employee. The lawsuit accuses McMahon and another former executive of serious sexual misconduct, including coercing Grant into a sexual relationship for employment purposes. McMahon, 78, denies wrongdoing and vows to defend against the “baseless accusations.” McMahon had previously resigned as WWE’s CEO in 2022 amidst similar allegations. The lawsuit, filed in U.S. District Court in Connecticut, details claims of McMahon forcing Grant into a…

It’s been a tumultuous four years for Wall Street, with the Nasdaq Composite experiencing significant swings between bear and bull markets. In 2022, the Nasdaq Composite faced a 33% drop in value, marking it as the worst-performing major index. Despite a 43% gain the following year, the Nasdaq Composite has yet to reach a new all-time high, currently residing 4% below its November 2021 record close. For savvy investors, this 26-month lull in the market presents a unique opportunity to acquire growth stocks, innovative companies, and industry leaders at a perceived discount. PayPal Holdings: The first spectacular growth stock to…

From all-time highs, home prices are beginning to drop, and it’s not just in the Sun Belt. One economist says that doesn’t mean a real estate crash is coming. The drop in global stock markets earlier this week made people more worried about a recession and led to more rumors that a home crash was coming soon. CoreLogic, a real estate analytics business, says that due to high mortgage rates that have made it harder for people to buy homes, home prices have been going down. CoreLogic’s chief economist Selma Hepp told MarketWatch that home prices will continue to rise,…

After falling over the past few weeks, Citi analyst Christopher Danely sees opportunity in chip stocks. He thinks that Micron Technology Inc. shares in particular have a chance to get back on track. Even with Thursday’s 6% rise, Micron’s stock MU 6.07% is down almost 30% in a month. Danely wrote before the market opened, “We think it’s time to double down on Micron given the recent selloff as we believe the DRAM market will remain tight given the oligopoly.” DRAM stands for dynamic random-access memory. He thinks the DRAM market will gain from lower capacity, which could help prices.…

The stock market had another bad day on Wednesday. This time, a weak sale of bonds made people feel bad. Nvidia NVDA 6.13%, which has been a market favorite for the past two years, fell 5%. It’s now more than 20% (23%, to be exact) below its recent high, so it could be called a bear market. Aswath Damodaran, a finance professor at NYU Stern School of Business who is often called the “dean of valuation,” says that Nvidia’s stock price only makes sense if investors think the company will create and win in a whole new market segment. “Let…

Cannabis stocks surged in late afternoon trading on Thursday following a statement from Republican presidential nominee Donald Trump, who indicated a shift toward supporting more relaxed cannabis laws. During a press conference at his Mar-a-Lago resort in Palm Beach, Trump mentioned that as cannabis legalization progresses, he’s becoming more supportive. He also revealed that he’s preparing a statement about an upcoming Florida referendum on adult-use cannabis, which currently has polling support above the 60% threshold needed for approval. While Trump didn’t provide details about his forthcoming statement, he acknowledged the difficulty of having people incarcerated for actions that might soon…

Thursday, former President Donald Trump said that the Federal Reserve has “gotten it wrong a lot” and that the people should have more say in how the bank makes decisions. Trump, the Republican candidate for president, held a news conference from his home in Florida called Mar-a-Lago. He talked about his business experience and said that he has “better instinct than, in many cases, people that would be on the Federal Reserve or the chairman,” Jerome Powell. Trump said, “I think the president should at least have a say in that.” During his time as president, Trump often said bad…

It was a big GAAP loss for SoundHound AI Inc. in the most recent quarter, and they are still much bigger than their revenue. However, their top-line growth was better than predicted. The company that makes software for AI that can have conversations reported a net loss of $37.3 million, or 11 cents per share, for the second quarter on Thursday. The net loss was more than the $23.3 million that SoundHound SOUN 21.16% lost in the same quarter last year, though each share of stock still lost 11 cents. When everything was taken into account, SoundHound lost 4 cents…

Extreme market volatility this week made Wall Street want the Federal Reserve to lower interest rates even more. This made people fear that the market could spread problems and cause a slump. As the dust has settled, a new worry has come to the surface: investors who are waiting for the Federal Reserve to cut interest rates could be setting the markets up for another trap. “I don’t think they want to be known as the “hot gun.” Janet Jaffee, a senior portfolio manager at TCW, told MarketWatch on Thursday, “That’s not what the Fed wants to do.” Early this…