(Justin Vaughn, Editor, Options Trading Report) At Friday’s close all three indexes stood near records, as the market was sizzling. The Dow Jones Industrial Average was up 1.2%, the S&P 500 and Nasdaq Composite were up !.5% and 2.1% respectfully. For the month of May the S&P 500 was up 5.3%, with nearly all equities in the positive. “The market is very keyed in on this notion of a soft landing, and most data points … Read more…
PARIS (Reuters) – Tesla founder Elon Musk on Thursday told tech investors gathered in Paris that he was against any tax incentives or tariffs that favour electric cars, just as he was against benefits for oil and gas. “Neither Tesla nor I asked for these tariffs, in fact I was surprised when they were announced”, Musk said, referring to such policies recently announced by the United States. (Reporting by Martin Coulter, Tassilo Hummel, editing by … Read more…
(Reuters) -Tesla’s latest impact report published on Thursday does not include its previously laid down target to deliver 20 million vehicles a year by 2030, another sign the company was scaling back its auto ambitions as it shifts focus to robotaxis. CEO Elon Musk last month said that Tesla would use current product lines for new affordable vehicles, as it retreated from more ambitious plans to produce an all-new model that had been expected to … Read more…
By Medha Singh and Lewis Krauskopf NEW YORK (Reuters) – Nvidia’s plan to split its stock after the stunning rise in the chipmaker’s share price could lure more interest from retail investors while potentially paving the way for the company’s inclusion in the Dow Jones Industrial Average. Nvidia shares were soaring 10% on Thursday afternoon after the company announced a 10-for-one stock split as part of a blockbuster quarterly report included its revenue and forecast … Read more…
(Reuters) – Boeing’s cash flow situation is incrementally worse than their expectations, an S&P Global Ratings analyst said, after the company said it would be cash-flow negative in 2024. Boeing currently has a BBB- rating from S&P, one level above “junk” status, with a negative credit rating outlook. The rating agency changed that outlook in April to “negative” from “stable” due to the increased chance that it will take more time for cash flow to … Read more…
By Chris Prentice and Nupur Anand NEW YORK (Reuters) – The U.S. Commodity Futures Trading Commission is expected as soon as Wednesday to announce a $100 million settlement with JPMorgan Chase & Co over trade reporting lapses, a source with direct knowledge of the matter told Reuters. The bank is expected to admit that it broke the agency’s rules as part of that deal, the person said. A spokesperson for the CFTC declined to comment. … Read more…
By Suzanne McGee BOSTON (Reuters) – Goldman Sachs CEO David Solomon said on Wednesday he does not expect the Federal Reserve to cut interest rates this year. “I’m still at zero cuts,” Solomon said at a Boston College event. “I think we’re set up for stickier inflation.” His comments came after Federal Reserve policymakers said on Tuesday the U.S. central bank should wait several more months to ensure that inflation really is back on track … Read more…
(Reuters) -U.S. drugmaker Pfizer launched a new multi-year program to reduce its expenses by about $1.5 billion by the end of 2027, adding on to a $4 billion cost cutting plan it announced last year. The cost cuts are the latest move by the company to respond to slumping demand for its COVID-19 products after they powered it to report record revenues in 2021 and 2022. Pfizer’s shares were up 2.6% at $29.3 in afternoon … Read more…
By Siddharth Cavale and Ananya Mariam Rajesh (Reuters) -Target on Wednesday said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations. Shares fell 10% in early trading after it posted adjusted earnings of $2.03 per share, 3 cents below analysts’ expectations, according to LSEG data. If these losses hold, the stock will be on … Read more…
(Reuters) – Google will start testing search and shopping ads in its AI-generated answers in the U.S., the Alphabet-owned company said on Tuesday, days after it rolled out the AI Overviews feature widely at its annual I/O conference. Ads will appear in a ‘sponsored’ section within AI Overview based on the query’s relevance and information, , the company said in a blog post. Google has been looking to extend its dominance beyond traditional search advertising … Read more…