Author: Daniel Wilson
Tesla stock (TSLA) fell more than 10% on Monday as another bearish call from Wall Street sent shares to their lowest level since the day before the presidential election and 50% from its record closing high of $479 seen on Dec. 17. In a note to clients on Monday, analysts at UBS lowered their price target on the stock to $225 from $259, citing lower delivery forecasts for the first quarter it sees resulting from softer demand for Tesla’s Model 3 and Model Y vehicles. The firm maintained a Sell rating on the stock. UBS now expects the company to…
Listen and subscribe to Opening Bid on Apple Podcasts, Spotify, YouTube or wherever you find your favorite podcasts. Hunting for the next big music deal. Whether a music catalog is snapped up by a niche investor or behemoth money manager, the buzz around these investments continues to be hot. “People’s relationships and the experience with the artist is closer and more important than ever,” Reservoir Media (RSVR) founder and CEO Golnar Khosrowshahi told Yahoo Finance Executive Editor Brian Sozzi in a new episode of the Opening Bid podcast (see video above or listen below). As a firm in the music…
The federal government could be in for a shutdown in less than two days after Senate Democrats offered up a plan to play hardball and oppose a House bill that would keep the government open until September alongside spending cuts. The counteroffer from Democrats — with the votes of at least a few of them required for any bill to pass — would keep the government open for a month but it faces little chance of final passage in time with Senate Republicans likely to block it and House lawmakers having already departed Washington anyway. Sen. Chuck Schumer and his…
After months of optimism over the prospect of a US economic “soft landing,” more Wall Street watchers are now warning of another possible outcome: stagflation. A bleak economic scenario in which growth stalls, inflation persists, and unemployment rises, stagflation has become the latest buzzword in financial markets as investors attempt to understand the administration’s shifting trade narrative and other policy uncertainties, including recent efforts from Elon Musk’s Department of Government Efficiency (DOGE). “Stagflation worries [are] appearing as tariff and DOGE policies could spur inflation higher and weigh on economic growth,” Evercore ISI’s Julian Emanuel wrote in a note over the…
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: Everyone wants to believe pain and anguish won’t show up at their doorsteps. Bad things happen to everyone else, right? Well, that is the WRONG way to be thinking right now when putting money to work in the markets! If you believe Trump tariffs are bluffs that won’t happen (or if they do to any extent, won’t be a big deal), you need to wake up and smell the sauce cooking on the wide-open gas flame. Expect pain!…
Gap (GAP) may be the lone retailer this spring to stand up to the dual headwinds of a tariff-wielding president and a prickly Mother Nature. The company on Thursday bucked the trend of ugly retailer earnings this week, beating profit estimates and signaling a respectable year ahead. Gap’s full-year outlook was generally in line with consensus forecasts, despite tariff impacts in the key sourcing region of China. “We’re all dealing with tariffs. We’re monitoring the developments of tariffs on an hourly basis. We source less than 10% of our product from China and less than 1% of our product comes…
With around-the-clock tariff headlines pounding stocks, recession calls or predictions for a sharp economic slowdown are coming into the light. The most dire one dropped today. BCA Research’s veteran strategist Peter Berezin said he sees a 75% chance of a recession within the next three months. “Conventional estimates understate the likely impact on economic activity from the trade war and DOGE cuts. This implies that growth will slow more than expected,” Berezin said. Berezin has gained attention of late for being the lone bear on Wall Street coming into 2025. He has a year-end target on the S&P 500 (^GSPC)…
Nvidia (NVDA) stock sank 8.7% Monday to its lowest closing price since last September as reports surfaced of the tech giant’s AI chips reaching China despite export controls. The Wall Street Journal reported late Sunday that Nvidia’s latest Blackwell chips are reaching China through third-party resellers using entities registered in nearby regions in violation of export controls. NasdaqGS – Delayed Quote • USD That report was followed by news that Singapore is probing Nvidia’s customers Dell (DELL) and Super Micro Computer (SMCI) — companies that make servers using the chipmaker’s Blackwell GPUs (graphics processing units) — for potentially violating US…
The latest jobs report released Friday showed the construction industry increased its pace of hiring while unemployment for workers in the industry also rose. Data from the Labor Department showed that construction firms added 19,000 jobs in February, following a small gain of 4,000 in January. This marked the strongest month of growth since the third quarter of 2024. However, this growth came alongside a rise in the construction unemployment rate, which increased to 7.2% compared to the overall unemployment rate of 4.1% for the month. “The sizable jump in the industry unemployment rate indicates that the labor supply can…
Being a tariff man may come with some consequences for the US economy. That’s the warning from former Trump communications director and Skybridge Capital founder Anthony Scaramucci. “I don’t think this sort of blanket approach is the right way to do it, and I think he’s [Trump] is going to put us into a recession, frankly,” Scaramucci told me at the Bitcoin Investor Week conference (video above). “Remember tariffs are a tax, and they’re primarily a consumer tax,” Scaramucci added. It’s “a consumption tax, sort of like a VAT [value-added tax]. And that’s a regressive tax. So what ends up…