After Microsoft’s (MSFT) recruiting of former OpenAI CEO Sam Altman since his departure from OpenAI last week, over 700 employees from OpenAI sent a letter to the board demanding that OpenAI’s remaining board members resign or those OpenAI employees will join Altman at Microsoft. According to Bloomberg, Altman, Interim CEO Emmett Shear, and board member Adam D’Angelo, have begun discussions to potentially reinstate Altman. Wall Street Journal Tech Reporter Dan Gallagher joins Yahoo Finance to discuss the talks at OpenAI and what are some of the possible outcomes of the entire situation. “It’s pretty clear that the only way Sam Altman is going to go back is if things are […]
Stock market indexes (^GSPC, ^IXIC, ^DJI) fell after the Fed’s FOMC meeting minutes showed interest rates will stay restrictive until inflation meaningfully drops toward regulators’ 2% target. While fiscal tightening may have peaked, Lafayette College Chief Investment Officer Krishna Mermani expects a gradual descent in economic pressures. As sectors like retail slow, supporting disinflation, Mermani believes the groundwork is laid for a soft landing scenario. He says the slight market selloff partly reflects the Fed’s rapid tightening effects, signaling the economy will naturally decelerate. However, the speed of slowing remains uncertain. If conditions improve without reaccelerating inflation, Mermani notes to Yahoo Finance that the Fed will have successfully completed the […]
Yahoo Finance Reporter Jennifer Schonberger breaks down the The U.S. government’s case against the world’s largest cryptocurrency exchange Binance as its founder, Changpeng Zhao who pleaded guilty to a felony charge Tuesday related to his failure to prevent money laundering on his platform. Binance also agreed to a roughly $4 billion settlement with the U.S. over violations of the Bank Secrecy Act and apparent violations of sanctions programs, including failure to put into place a suspicious transaction reporting programs. Zhao announced that he stepped down as the company’s chief executive. #Binance #crypto #yahoofinance Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date […]
U.S. Treasury yields recover on cooling economic data, but concerns around the Fed’s ability to deliver a soft landing are still lingering. Yahoo Finance’s Jared Blikre analyzes bond market dynamics and investor sentiment on the Fed’s future interest rate cuts forecasted for 2024. 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 #stockmarket #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 your financial life. Yahoo Finance Plus: With a subscription to Yahoo […]
OPEC+ member countries are expected to extend production cuts at its meeting on Sunday, November 26, which could send oil prices flying. Yahoo Finance Senior Reporter Ines Ferré examines trends in crude oil futures (CL=F, BZ=F) and forecasts for oil supply, referencing comments from the White House’s Senior Advisor on Global Infrastructure and Energy Security Amos Hochstein. 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 #oil #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 […]
Strategists are all in agreement that interest rate cuts by the Federal Reserve are coming in 2024 — they just can’t agree on when exactly. The bond market is seemingly already pricing in rate cuts, whereas Key Advisors Wealth Management Co-Founder and CEO Eddie Ghabour believes this is not as bullish a course of action as investors should believe. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #interestrates #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 your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the […]
Sam Altman was removed as CEO of artificial intelligence research firm OpenAI over the weekend. The surprise ousting of Altman — who co-founded OpenAI — has prompted unnamed investors to explore legal options against the company’s board, according to a Reuters report. However, OpenAI’s hybrid corporate structure poses challenges to lawsuits. The firm has a non-profit arm that funds its for-profit operating entity. This setup provides substantial legal liability protections. Yahoo Finance Legal Reporter Alexis Keenan breaks down the details of OpenAI’s unique corporate structure, providing insights into the limited avenues investors have to take legal action against OpenAI’s leadership shakeup. For more expert insight and the latest market action, […]
Sales of existing homes fell sharply in October, down 4.1% from September to a seasonally adjusted annual rate of 3.79 million. That’s the lowest level since August 2010. Year-over-year, sales fell 14.6%, according to the data from the National Association of Realtors. The median home price was $391,800, an increase of 3.4% from a year ago. Despite high mortgage rates hampering many potential buyers, NAR Chief Economist Lawrence Yun notes in the release that “multiple offers… are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.” Yahoo Finance Live breaks down the report. For more expert insight and […]
OPEC+ member countries are expected to extend production cuts at its meeting on Sunday, November 26, which could send oil prices flying. Yahoo Finance Senior Reporter Ines Ferré examines trends in crude oil futures (CL=F, BZ=F) and forecasts for oil supply and US gas prices (RB=F). 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 #oil #youtube #stockmarket 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 your financial life. Yahoo Finance Plus: With a […]
Many investors have grown a more bullish sentiment on the market following recent inflation prints and commentary from Federal Reserve leadership, expecting regulators to reach their 2% inflation target and begin to see more of a recovery. Several events continue to weigh on the US and global economies, including conflicts in the Middle East, high mortgage rates, and a slow-moving Congress. BlackRock Chief Investment Strategist Wei Li joins Yahoo Finance to discuss the recent rally in the stock market, gains in Big Tech stocks, and why investors need to pay closer attention to the market, believing their bullish sentiment to be misguided. Li expects the Fed to begin cutting interest […]
