Author: Daniel Wilson
US markets have eliminated all their post-election gains as stocks deepen their sell-off with fresh tariffs on Canada, Mexico, and China now officially in effect. The S&P 500 (^GSPC) has erased about $3.3 trillion in market cap since its record closing high of 6,144.15 on Feb. 19. At that time, the benchmark index’s post-election gains had been hovering at just around 6%. Since the start of 2025, the S&P 500 is down around 2% while the Nasdaq Composite (^IXIC) is off nearly 6% and is currently flirting with correction territory, on track to close 10% off its record high. The…
President Donald Trump and TSMC (TSM) announced Monday that the Taiwanese chip manufacturer will invest at least $100 billion in its US manufacturing capabilities “over the next short period of time,” bringing the company’s total investment in the US to $165 billion. TSMC CEO C.C. Wei said during a briefing at the White House that the new investment will be used to build three new chip manufacturing facilities, two advanced packaging plants, and a research and development center in Arizona. Intel (INTC) is currently the only leading edge computing chip manufacturer with R&D in the US. “Most importantly, actually, we…
Tesla (TSLA) shipment data out of China is not good and is the latest piece of bad news for the pure EV maker. The China Passenger Car Association (CPCA) reported Tesla’s shipments from China fell to 30,688 in February, plunging 49% compared to a year ago, per Bloomberg News, and down more than half compared to January (63,238). Meanwhile, wholesale sales of new energy vehicles in China for the month hit 840,000 units, up 82% compared to last year. Tesla stock closed down 4.4% on Tuesday and is now down 32.6% for the year. NasdaqGS – Delayed Quote • USD…
Okta (OKTA) co-founder and CEO Todd McKinnon — a longtime competitive CrossFit athlete — said his latest earnings report out Monday definitely beats tossing wall balls. He makes a good point. “This is a blowout quarter,” McKinnon told me in a Yahoo Finance Opening Bid podcast exclusive (see video above). “It’s reflective of big deals in the quarter,” McKinnon said, pointing to a 25% surge in subscription backlog to more than $4 billion. New products represented 20% of total subscription bookings, its highest level ever, per McKinnon. Okta beat analyst estimates on sales, earnings, and initial 2025 profit guidance. Shares…
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: The dust has settled on the latest Nvidia (NVDA) earnings week frenzy. And I think it’s important to take stock of where things stand for the world’s most important stock (sorry, Apple (AAPL)). Why? Because you should be thinking about whether the pullback in Nvidia is a buying opportunity or the start of a deeper sell-off as expectations are reset. We know Nvidia’s margins in the first half of the year will be below their usual robust levels…
ORLANDO — Sunny skies are forecast for the weekend at the PGA Arnold Palmer Invitational golf tournament as an unfinished deal between competing golf leagues hangs in the air. During a media blitz at the tournament, PGA Tour commissioner Jay Monahan confirmed that deal talks are ongoing between the longstanding Professional Golfers’ Association and the Saudi Arabia-backed LIV Golf — and that the price tag remains around $1.5 billion. “We’re doing everything we can to reunify the game,” Monahan said. “75% of our fans tell us they’d like to see the game reunified, versus a low 30 percentile that say…
Kroger (KR) is now at a crossroads: As CEO Rodney McMullen announced his resignation, same-store sale growth lagged behind competition, and its proposed merger with Albertsons fell through. On Monday before market open, the company announced McMullen would be stepping down immediately “following a Board investigation of his personal conduct that, while unrelated to the business, was inconsistent with Kroger’s Policy on Business Ethics.” Kroger family member and industry veteran Ron Sargent was named interim chairman and CEO. Analysts called the announcement surprising. “We thought Kroger would shake up leadership, following the failed merger with Albertson’s, but obviously this is…
St. Louis Fed president Alberto Musalem said Monday that he is closely watching longer-term inflation expectations and downside risks to growth as he argues for maintaining a “patient approach” to monetary policy. “I believe a patient policy approach now will help us as we seek maximum employment, price stability, and a durable economic expansion,” he said during a speech in Washington, D.C. Musalem’s comments come as President Donald Trump gears up to impose tariffs of as high as 25% on Mexico and Canada Tuesday, plus an additional 10% tariff on China. Musalem said the Fed could “look through” an increase…
A rally in digital assets faded Monday despite new promises from Donald Trump about a US strategic reserve of cryptocurrencies. The president said Sunday in a social media post on Truth Social that such a reserve would include bitcoin (BTC), ether (ETH), XRP (XRP), solana (SOL), and cardano (ADA). He had not previously spelled out which digital assets would be included. The new disclosure sent the value of these digital assets soaring through Monday morning, reversing a slump that had taken hold in recent weeks and accelerated last week as bitcoin experienced its worst correction since a 2022 meltdown. By…
With President Trump’s big tariffs only a day away, a new report finds huge price increases are coming for Americans looking to buy a new car or truck. The Anderson Economic Group (AEG) found that vehicles like EV crossovers could have price hikes of over $12,000 depending on the vehicle if proposed tariffs of 25% go into effect on Canadian and Mexican imports. On Monday afternoon Trump confirmed the tariffs will go into effect Tuesday. The tariffs don’t just affect vehicles imported from those countries, but also parts that cross over the border many times during the production process, adding…