Author: theparknews

Stocks had their best week of the year as investors cheered President-elect Donald Trump’s economic policies. Steve Sosnick of Interactive Brokers said, “The economic boom is due to tax cuts, and there is a general perception that the market prefers Republican administrations, but it is true that the performance of Democratic administrations over the past few years has not been terrible.” “It wasn’t a real thing,” Steve Sosnick of Interactive Brokers explained to me. About Yahoo Finance’s special election coverage. The Dow Jones Industrial Average (^DJI) soared more than 1,700 points from Wednesday to Friday, ending the week up 4.6%.…

Trump Media & Technology Group stock (DJT) closed up more than 15% on Friday after President Donald Trump sold his shares in the company, home to Trump’s social media platform Truth Social. After the company announced that it would not do so, trading was temporarily halted due to the volatile fluctuations. Trump, who made the announcement on his Truth Social account, maintains about 60% interest in DJT. At its current price of about $32 per share, Trump Media has a market capitalization of about $7 billion, and the president-elect’s stake is worth about $4.2 billion. “There are false, untrue, and…

Tesla (TSLA) stock rose 3% in after-hours trading as election results continued to be reported Tuesday night. Further results are expected to be announced in the coming hours. Musk, a tech billionaire who is CEO of Tesla (TSLA) and SpaceX and also the owner of social media platform X (formerly Twitter), announced his support for Trump ahead of the election. It is expressed frankly. President Trump has said he would consider adding Musk to his cabinet, but the businessman even said he wouldn’t be able to do so “because of everything going on.” “It’s going to be a very interesting…

Italian luxury automaker Ferrari (RACE) reported third-quarter financial results on Tuesday in line with expectations, but shares fell on Tuesday after vehicle deliveries were weaker than a year ago. Ferrari expects stronger sales in the fourth quarter to boost full-year results. In the quarter, Maranello-based Ferrari reported revenue of 1.64 billion euros ($1.79 billion), in line with expectations compiled by Bloomberg and up 7% from a year earlier. Third-quarter adjusted EPS of €2.08 ($2.27), also in line with expectations, and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of €638 million ($695 million). USD), up 7%, slightly above expectations.…

Oil futures rose on Monday as OPEC+ announced it would delay lifting production cuts by a month and traders understood a new report said Iran was planning a “strong and complex” attack on Israel. rose nearly 3%. West Texas Intermediate (CL=F) futures rose to settle at $71.47 per barrel, while international benchmark Brent crude oil futures (BZ=F) closed at $75.08 per barrel. Ta. The Organization of the Petroleum Exporting Countries, along with Russia and other countries, announced that it would continue to cut production for one month until the end of 2024. The decision to postpone an additional 180 billion…

U.S. stocks were little changed on Monday, bracing for a week of potentially market-moving mega-events: the presidential election and Federal Reserve policy decisions. The S&P 500 (^GSPC) was trading near a flat line after a down week and recovery. The Nasdaq Composite Index (^IXIC), which has a high proportion of tech stocks, rose slightly, while the Dow Jones Industrial Average (^DJI) fell 0.3%. A solid earnings season so far and optimism about rate cuts give markets reason to be upbeat ahead of Tuesday’s election, a big risk event for markets. The new president, whether Kamala Harris or Donald Trump, will…

OpenAI and its biggest backer, Microsoft (MSFT), are debating how to divide the artificial intelligence startup’s spoils when OpenAI becomes a commercial company, but the equity in these assets remains uncertain. It will be a difficult task to agree on a fair market value. Legal experts say it all depends on who does the math. “The problem is there are probably six to 10 ways to value a company,” said Angela Lee, a professor at Columbia Business School. “And depending on who you ask, my guess is that it could be off by a factor of three to five, depending…

Boeing (BA)’s legal crisis seemed all but over, but it’s now in jeopardy as the company’s financial crisis deepens, adding further uncertainty to the aircraft maker’s restructuring efforts. There is.A federal judge in Texas is considering whether to approve a plea deal Boeing reached with the Justice Department in July. In the plea agreement, the company agreed to plead guilty to misleading FAA regulators ahead of two fatal 737 MAX crashes late last year.Lawyers for Boeing and the Justice Department urged U.S. District Judge Reed O’Connor last Friday to sign the agreement, but families of the crash victims objected.The families…

They are the smartest guys in the room and can make billions of dollars with arcane trades that no one else will notice. So why are some of the top minds in business and investing so ignorant about politics?Billionaire investor Bill Ackman is currently inviting reviewers to critique the rationale for his 2024 voting plan. Ackman joins Elon Musk, Peter Thiel, Marc Andreessen and many other 1 percenters in publicly supporting Republican candidate Donald Trump in this year’s election.There’s nothing wrong with that! However, while conveniently ignoring multiple analyzes predicting higher inflation, wider budget deficits, and lower GDP growth under…

Stocks trade at record highs for another week as investors begin to digest quarterly earnings releases and debate intensifies over what the Federal Reserve will do at its November meeting. Finished.The Nasdaq (^IXIC), S&P 500 (^GSPC), and Dow Jones Industrial Average (^DJI) are all up more than 1% this week, with both the Dow and S&P 500 closing at all-time highs on Friday. .The monthly report on retail sales will dominate the economic calendar over the coming week as investors assess whether the economy is reaccelerating after a surprisingly strong September jobs report. In corporate news, results from Bank of…