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U.S. stocks closed little changed on Thursday as news of hotter-than-expected inflation and signs of labor market strength dampened hopes for early interest rate cuts by the Federal Reserve this year, but a fall in Treasury yields kept declines in check. In a choppy session, equities opened higher and the benchmark S&P 500 briefly surpassed its record closing high of 4,796.56, hit in January 2022, before erasing initial gains. After ending 2023 with a strong rally, stocks have struggled to find upward momentum, with the S&P 500 up only 0.21% on the year, as mixed economic data and Fed officials' comments have led investors to scale back expectations for the timing and size of any rate cuts from the U.S. central bank this year...
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The Dow Jones dug in well following negative inflation data. Bitcoin gains faded as new ETFs fell. Cathie Wood snapped up a plunging stock...
Continue ReadingHertz (HTZ) is set to sell a third of its available US electric vehicle fleet citing weak rental demand and higher maintenance costs. The company expects about $245 million in charges related to depreciation expenses from the EV sale in the fourth quarter of 2023. The cars, which include various Tesla (TSLA) models, can be directly purchased by consumers on their Rent2Buy website. Yahoo Finance Autos Reporter Pras Subramanian joins the Live show to discuss the latest developments for the rental car company and the implications for the auto rental market at large. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino...
Continue ReadingMicrosoft’s AI-powered stock rally briefly made the software giant the largest U.S. company by market value on Thursday, before Apple reclaimed the spot...
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CUPERTINO, Calif., January 11, 2024--Apple® today announced Dr. Wanda Austin, former president and CEO of The Aerospace Corporation, has been nominated for election to Apple’s board of directors. Dr. Austin brings decades of science and technology experience to her role, and she has a significant track record of advancing innovation and shaping corporate strategy...
Continue ReadingGoogle stock is rising and nearing a buy point as the magnificent seven play announced layoffs. GOOGL competes with MSFT and AMZN...
Continue ReadingFor a few hours on Thursday, Microsoft overtook Apple in market value. Apple was back on top by the end of the day...
Continue ReadingAmazon stock gained more than 80% in 2023 after losing 49% in 2022, helped by AI investments and improved profits for its retail business...
Continue ReadingFactory workers at Tesla have been told to expect pay raises this year, a move that comes as the United Auto Workers union tries to organize the electric vehicle maker's U.S. plants. The UAW said Thursday that Tesla workers have told the union about company statements on the raises, which did not give details about the size of the increases. After winning strong contracts with Detroit's three automakers last year, the union has embarked on an effort to organize all nonunion auto plants in the U.S., including Tesla's assembly and battery factories in Texas, California and Nevada...
Continue ReadingThe EV king, Tesla Inc (NASDAQ: TSLA) got its long-awaited electric pickup on the road before 2023 ended. But its competitors, namely BYD Company Limited (OTC: BYDDY) accelerated during the last quarter of the year and surpassed Tesla for the first time, quarter-wise, although the EV king still sold the most EVs during the full year, meeting its target of 1.8 million deliveries. But 2024 kicked off with news of a new entrant entering the electric pickup game, challenging Rivian Automotive Inc (N...
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