Author: theparknews

Here are the takeaways from today’s Morning Brief. Sign up to receive the following in your inbox each morning: Covering the annual World Economic Forum in Davos, Switzerland, is a competitive sport for me. As my few close friends know, I’m actually starting to train for an intense week of summer (and yes, they all make fun of me). The number of weekly workouts gradually increases towards that point, so it’s easy to backpack up and down a two-mile boardwalk and cram into as many meetings as humanly possible ( Yes, I do that too). My weekly cheat meal is…

Here are the takeaways from today’s Morning Brief. Sign up to receive the following in your inbox each morning: When interest rates are high, the nation’s largest banks win. Under the next president, oversight will be loosened, so it could win even if interest rates fall. Despite all the signals of trepidation in the market regarding tariffs and other Trump-related inflation concerns, big banks and their record profits released another celebratory document this week, praising huge profits and optimism for the future. The outlook is promising and promises an improvement. The next president’s agenda for policy innovation and pro-growth. And…

Shares of Eli Lilly (LLY) fell more than 6% on Tuesday after the company reported fourth-quarter 2024 earnings guidance that fell short of Wall Street expectations. Lilly lowered its revenue outlook by 5% to $13.5 billion, $500 million below the $14 billion consensus. However, this guidance still represents a 45% increase compared to the same quarter in 2023. Lilly had previously offered a range of $13.9 billion to $14.5 billion. The company also announced a forecast for full year 2024 of $45 billion (up 32% from 2023). “The U.S. incretin (hormone that helps regulate blood sugar levels after meals) market…

Wholesale prices rose less than expected in December, amid recent market concerns that inflation may not be falling as quickly as expected toward the Federal Reserve’s 2% target. This was a positive sign for the economy. The Producer Price Index (PPI), which tracks price changes seen by businesses, rose 3.3% year over year, up from 3% in November, but economists said in a Tuesday report from the Bureau of Labor Statistics. The increase rate did not reach 3.5%. It was projecting. On a monthly basis, the inflation rate was 0.2%, lower than the 0.4% rise expected by economists. “Core” prices,…

US stocks reversed early gains to close firmly lower as cautious investors weighed new economic data, while Nvidia (NVDA) retreated from its record close despite the company’s big artificial intelligence plans. The benchmark S&P 500 (^GSPC) fell over 1.1%, while the tech-heavy Nasdaq Composite (^IXIC) lost roughly 1.9%. The Dow Jones Industrial Average (^DJI) bounced around throughout the day but ended the session down about 0.4%. Meanwhile, the 10-year Treasury yield (^TNX) added roughly 7 basis points to hover just below 4.7%. And bets on when the Federal Reserve will next cut interest rates were pushed back, too. Early on…

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…