Author: theparknews

Retail sales grew faster than Wall Street analysts expected in November, reflecting continued resilience among U.S. consumers and signaling a strong start to the U.S. holiday season. . Retail sales rose 0.7% in November. Economists had expected spending to rise 0.6%, according to Bloomberg data. Meanwhile, retail sales for October were revised upward to 0.5% from a previously reported 0.4% increase in the same month, according to Census Bureau data. Profits were boosted by a 2.4% month-on-month increase in auto and auto parts sales and a 1.8% increase in online sales. Excluding automobiles and gasoline, sales rose 0.2% in November,…

The legacy retailer, once seen as slow to adopt technology as Amazon (AMZN) rose to the forefront, has quietly invested in everything from artificial intelligence and augmented reality to same-day delivery and cheap groceries. The combo punch has led to nearly four quarters of record earnings — and a title as Yahoo Finance’s annual Company of the Year award winner.A committee of Yahoo Finance editorial leaders selected Walmart because of its strong year of sales and profits, financial outperformance relative to key rivals like Target (TGT), and a stock price that has reached fresh records in 2024.”I’m a pretty conservative,…

Walmart CFO John David Rainey, a longtime workout enthusiast and dedicated runner, admits that the demands of being a financial wizard at the world’s largest retailer have taken a toll on his fitness habits. is recognized.But he still manages to get the required number of reps.”I think if you’re balanced and active, you bring a better version of yourself to work,” Rainey tells me inside the new Walton Family Whole Health & Fitness in Bentonville, Ark. spoke.Rainey has overseen Walmart’s financial statements since June 2022, making a statement in itself as the company won the Yahoo Finance Company of the…

U.S. stocks rose on Monday as Bitcoin (BTC-USD) hit a new all-time high and investors braced for the Federal Reserve’s final policy decision of the year later in the week. The Nasdaq Composite Index (^IXIC) rose nearly 1%, with Alphabet (GOOGL, GOOG) and Tesla (TSLA) stocks hitting new highs and on track for a record close. Following a down week for these major indexes, the S&P 500 (^GSPC) rose 0.4% and the Dow Jones Industrial Average (^DJI) remained flat. Shares of software company MicroStrategy (MSTR) soared ahead of Bitcoin buyers joining the Nasdaq 100 (^NDX). Bitcoin itself has soared to…

Broadcom stock (AVGO) soared more than 20% Friday as the chipmaker touted a “huge” opportunity in the artificial intelligence market during its quarterly earnings call the night before. Broadcom CEO Hock Tan said his company’s custom AI chips will generate $60 billion to $90 billion over the next three years from the hyperscaler’s three existing customers, which the company did not name. The company said it expects it to generate revenue of approximately 20%. Tan reiterated his belief that each of the three hyperscalers will deploy 1 million clusters of custom AI chips, called XPUs, by 2025. Broadcom also confirmed…

Wholesale prices rose more than expected in November, further strengthening signs of continued inflation. The Producer Price Index (PPI), which tracks price changes seen by businesses, rose 3% year over year, up from 2.4% in October and 2.6% as expected by economists, according to a Thursday report from the Bureau of Labor Statistics. exceeded the rise. . This marked the highest year-over-year increase since February 2023. On a monthly basis, prices rose 0.4% compared to a 0.2% rise in October. “Core” prices, which exclude food and energy, rose 3.4% from a year earlier, exceeding the 3.1% rise in October. Economists…

The Fed is likely on track to cut interest rates again next week after new inflation readings line up with Wall Street expectations, but some central bank watchers believe the Fed will continue to do so due to stubborn upward price pressures. We believe this suggests a more cautious approach towards 2025. “I think inflation will slow down” in 2025 as inflation continues to show signs of persistence, former Cleveland Fed President Loretta Mester told Yahoo Finance. The former Fed policymaker still expects a rate cut next week, but added that his prior prediction of four cuts next year “needs…

New inflation data released Wednesday showed consumer prices rose as expected in November, keeping the US Federal Reserve on track to cut interest rates again in December. The Consumer Price Index (CPI) rose 2.7% year over year in November, up slightly from October’s 2.6% annual rise, according to the latest data from the U.S. Bureau of Labor Statistics. The annual increase was in line with economists’ expectations. The index rose 0.3% from the previous month, exceeding October’s 0.2% rise and in line with economists’ expectations. This was the biggest monthly increase since April, following a 0.2% rise in the previous…

Shares of Google (GOOG) soared more than 5% on Tuesday after the company unveiled a revolutionary new chip for quantum computing. Quantum computing is an emerging technology that is expected to eventually replace traditional computing. In a blog post on Monday, Google said that a quantum computer powered by its new Willow chip could solve a mathematical equation that would take a traditional supercomputer 10 years, longer than the entire history of the universe, in just five minutes. He said he could. Google says the chip eliminates a major bottleneck in the quantum computing field. Unlike traditional computers, which use…

Faith in the path ahead. After months of contraction, the industrial sector is regaining confidence heading into 2025. “Cautious optimism is where we are today,” Goldman Sachs analyst Joe Ritchie said at the Goldman Sachs Industrials and Materials Conference last week. “Some companies are expecting further growth in 2025… It’s only a matter of time before that happens. It will be applied at some point in 2025.” According to recent data from the Institute for Supply Management (ISM), the industry has contracted for the past eight consecutive months and 24 of the past 25 months. The prolonged recession is weighing…