Tesla (TSLA) is starting to see its business cool off at the same time inflation seems to be moderating for another consecutive month. ARK Invest Founder and CEO Cathie Wood believes the EV maker’s recent price cuts have “offset the interest rate hit” from the Fed’s monetary policy while still grabbing market share from American auto companies. Oppenheimer Senior Research Analyst Colin Rusch disagrees with some points of Wood’s recent comments to Yahoo Finance. “The landscape is changing — I don’t see GM and Ford as the primary competition,” Rusch explains. “We’re looking at VW and Hyundai as the established OEM [original equipment manager] leaders in this space. And then […]
Shares of Penn Entertainment (PENN) closed higher Tuesday after the company launched ESPN Bet, a rebranding of an existing sports-betting app owned by Penn Entertainment, in 17 states after dropping Barstool Sportsbook. According to the AP, Penn will pay $1.5 billion over the next 10 years for exclusive rights to the ESPN name. According to Disney (DIS): “ESPN BET will become ESPN’s exclusive sportsbook, and PENN Entertainment will receive odds attribution, promotional services inclusive of digital product integrations, traditional media and content integrations, and ESPN talent access, among other services.” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. […]
With 2023 winding down in its final months, investors and the market alike are keeping a watchful eye on the Fed and what regulators may decide for interest rates in 2024. Exante Data Founder and CEO Jens Nordvig joins Yahoo Finance Live to weigh in on the factors surrounding the extent to which the Fed could cut rates. Nordvig says the magnitude of cuts would be determined by inflation or the likelihood of a recession. Nordvig notes that just stabilizing inflation could allow modest cuts but a recession would prompt far more aggressive easing. Nordvig states there is a “long way to go” before being able to determine the Fed’s […]
October’s Consumer Price Index (CPI) print came in cooler than expected, raising hopes that inflation is beginning to moderate in late 2023. Does this change anything for the Federal Reserve and its 2% inflation target? BNP Paribas US Economist Yelena Shulyatyeva explains expectations she has for Fed interest rate cutes in 2024 and how the Fed’s rhetoric has changed. The Fed has become “so much more cautious even as inflation continues to run high, they have become much more cautious talking about risk approach, risk management when they conduct monetary policy,” Shulyatyeva tells Yahoo Finance. “Today’s number just helps to alleviate some of the concerns that the process is not […]
ARK Invest is teaming up with 21shares to launch new crypto-focused ETFs. ARK Invest Founder and CEO Cathie Wood says the partnership made sense given how complementary the firms’ areas of expertise are. Wood says that bitcoin (BTC-USD) is “the first global, digital, private rules based monetary system in history” adding that global monetary policy is “unhinged, it’s not hinged to anything except human decision-making” and that “the monetary system is bitcoin.” Ark is one of the several firm trying to launch a spot bitcoin ETF. Wood says “something has changed,” noting that the Securities and Exchange Commission has responded to their application with questions instead of just rejecting it. […]
Nvidia (NVDA) stock roseTuesday afternoon as Bank of America (BAC) raises its price target for the chipmaker to $650 per share. Analysts cite the AI chips as a decent upgrade for the company. The company will report its quarterly earnings next week on Tuesday, November 21. Snap Inc. (SNAP) shares are also moving higher as Amazon (AMZN) reportedly reached a deal to run shopping ads for Amazon on Snapchat, according to The Information. This will supposedly make it easier for users to connect their accounts and buy products from Amazon through the social media app. Airbnb (ABNB) is rising as well since it announced on Tuesday that it has acquired […]
Video game developer Take-Two Interactive (TTWO) is seeing stock gains Tuesday morning as Deutsche Bank analysts upgrade the stock to “Buy” on headlines of a December announcement for the long-awaited Grand Theft Auto VI. Yahoo Finance Anchors Akiko Fujita and Rachelle Akuffo observe Take-Two’s recent stock action and other trends in the gaming market. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #gaming #yahoofinance About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage […]
A new Moody’s (MCO) report estimates that the recent strikes in Hollywood will cost entertainment studios $450-600 million dollars annually going forward, as the new union contracts go into effect. The report said that this increase in costs “will not pose a credit risk for the studios in isolation,” citing the massive spending that already occurs globally, this only makes up an incredibly small percentage. Yahoo Finance Senior Reporter Alexandra Canal joins the Live show to break down the report and what it means for the entertainment industry going forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. […]
At its Design and Make conference, Autodesk unveiled new AI-powered products for industries like architecture, manufacturing, and media. The technology provides generative design capabilities and intelligent assistance for tasks like building, product design, and 3D modeling. CEO Andrew Anagnost says Autodesk’s AI aims to help companies “build more with less” by automating processes, generating data, and creating sophisticated 3D models. This allows customers to work faster and more cost efficiently. The AI tools also offer predictive insights and can analyze complex sustainability projections, shortening lengthy development cycles to weeks. Anagnost emphasized that many industries have “massive capacity problems” and cannot meet demand growth. By leveraging AI to eliminate repetitive tasks […]
With inflation pushing food prices higher by 3.3%, value-driven purchases is still the order of the day for many consumers relying on Walmart (WMT) and other cost-effective grocery retailers. Amazon (AMZN) — which also owns Whole Foods — is expanding its online fresh grocery delivery service, to which Forrester Research Retail Analyst Sucharita Kodali believes that the online retailer is still thriving primarily in non-perishable and non-food items. The US online grocery market is forecasted to be valued at $243 billion by 2025. Kodali notes to Yahoo Finance that online fresh grocery sales are an “under-penetrated category” and sees room for growth in this market. For more expert insight and […]
