Author: starbpo

TOKYO–Two major Japanese automakers have warned that earnings will be hit hard by U.S. tariffs, underlining the risk of an industry-wide downturn that could stunt Japan’s economic recovery. Honda Motor and Nissan Motor both expect multibillion-dollar blows from the tariffs on foreign-made cars imposed by the Trump administration in April, they said Tuesday as they reported earnings and gave dim guidance for the year ahead. Honda expects its net profit to drop 70% to 250 billion yen, equivalent to $1.68 billion, for the year ending March 2026. Nissan refrained from offering annual profit projections due to tariff uncertainty, but guided…

The Senate is expected to intensify its work on the tax and spending megabill that was approved by the House of Representatives prior to the week-long vacation as Congress returns to Washington. According to House Speaker Mike Johnson, Senate Republicans should “make as few modifications as possible, remembering that I have a very delicate balance on our very diverse Republican caucus over in the House.” The megabill was finally approved on May 22 by a narrow margin of 215 to 214 in the House, where the GOP holds a 220-212 majority. Additionally, President Donald Trump and his advisers are advocating…

In premarket trading on Monday, BioNTech’s shares, which ended Friday at $95.81, increased 14% to $109.54. As per the agreement, Bristol Myers will pay BioNTech $1.5 billion up front and $2 billion in non-contingent anniversary installments until 2028, the firms announced Monday. According to them, BioNTech can also get up to $7.6 billion in rewards for commercial, regulatory, and development milestones. Bristol Myers, a biopharmaceutical company based in Princeton, N.J., and BioNTech announced that they will equally divide joint development and manufacturing costs as well as worldwide profits and losses as part of their extensive clinical-development program to assess and…

Mexican voters are set to elect their first female president, a milestone accompanied by a surge of false and misogynistic online claims blurring fact and fiction. The two leading female candidates have faced demeaning attacks on their appearance, credentials, and leadership abilities. Claudia Sheinbaum, the former Mexico City Mayor and the frontrunner, has faced slurs about her Jewish heritage and debunked claims that she was born in Hungary. Recently, a fake AI-generated audio clip falsely depicting Sheinbaum admitting her campaign was failing went viral in an apparent attempt to undermine her. The misinformation targeting Mexican voters illustrates how the internet,…

On Saturday, Israel’s prime minister rejected a permanent cease-fire in Gaza until specific conditions to end the conflict are met, countering a proposal announced by U.S. President Joe Biden. The statement from Prime Minister Benjamin Netanyahu’s office came a day after Biden revealed the plan, amid calls from the families of Israeli hostages held by Hamas for immediate acceptance of the proposal. “Israel’s conditions for ending the war remain unchanged: dismantling Hamas’ military and governing structures, freeing all hostages, and ensuring Gaza no longer threatens Israel,” the statement said. “Israel will insist these conditions are met before any permanent cease-fire.”…

Although it has long felt like the chip industry’s market, a significant indicator now confirms this. For the first time, chip stocks account for the largest weighting within the S&P 500 SPX, surpassing the software industry in recent days. The shift in power is a reflection of Wall Street’s confidence in the semiconductor industry’s potential to profit monetarily from artificial intelligence as well as worries about client budget restraints inside the software sector. Furthermore, it depicts the meeting point of the two movements, where investors switch from purchasing software to purchasing chips. In a note to clients on Tuesday, Strategas…

A slower economy is usually unwelcome, but the Federal Reserve might need it to combat high inflation. The latest consumer spending and inflation report should reassure Fed officials. Spending hit a three-month low in April, and inflation showed signs of leveling off. “This was a Fed-friendly personal income and spending report showing consumers are becoming more cautious in the second quarter,” said Scott Anderson, chief U.S. economist at BMO Capital Markets. “Additionally, decreasing demand seems to be easing the earlier inflation surge.” The Fed might get more positive news from the May employment report if it shows a modest job…

The excitement of the Dow Jones Industrial Average reaching 40,000 for the first time now seems like a distant memory. The index has since dropped over 3%, experiencing its sharpest two-week decline in over a month, while the rest of the market has continued to rise. Despite holding on to about a 2% gain in May, the 30-stock DJIA has significantly lagged behind the tech-heavy Nasdaq Composite COMP by the widest margin since May 2023. It has also underperformed the large-cap benchmark S&P 500 SPX by the largest margin in three months, according to Dow Jones Market Data. The Nasdaq…

The fact that the S&P 500 was just marginally lower for 2025 as of Monday highlights how crucial it is for investors to avoid overreacting to daily occurrences that result in worrying stock market falls. You now have the chance to alter your investment portfolio. After a chart, let’s ask you some questions about how you think as an investor. This is the performance of the S&P 500 as of Monday this year. In this article, reinvested dividends are included in all investment returns. Through Monday, the S&P 500 SPX was only marginally lower for 2025. Following Treasury Secretary Scott…

On Friday, President Donald Trump called on Federal Reserve Chair Jerome Powell to lower interest rates by a whole percentage point, calling the central bank’s monetary policy a “disaster.” The markets anticipate no action from the Fed until September. The jobs data for May was good. Why, then, would the White House advocate for a rate reduction? The administration’s economic team believes there is opportunity for the Fed to lower rates closer to 3%, according to White House Chief Economist Stephan Miran. Rates would be “neutral” in that situation, neither increasing nor decreasing demand. Interest rates are currently between 4.25%…