Twenty-two years ago, Michael Fiddelke was a finance intern at Target. Now, he’s set to become the company’s next CEO.Fiddelke, currently Target’s chief operating officer, will take over the top position and join the board of directors on February 1, 2026, the company announced on Wednesday. He’ll replace Brian Cornell, who’s run the retailer for the last 11 years — overseeing it through record stock highs in 2021 and an ongoing market slump essentially ever since.When Fiddelke interned at Target in 2003, he was a graduate student at Northwestern University studying business administration and finance. Target hired him as a…
Author: usaeverydaylife
A Palantir sign at the World Economic Forum annual meeting in Davos, Switzerland, on May 22, 2022.Fabrice Coffrini | Afp | Getty Images If you have any U.S. technology stocks in your portfolio (and let’s face it, who doesn’t?), you might want to look away.For the second day in a row, tech stocks dragged markets lower, with the Nasdaq Composite slipping 0.67%. Juggernauts such as Apple, Amazon and Alphabet were more meh-nificent than magnificent, falling more than 1%.Palantir — the standout S&P 500 stock, having more than doubled so far this year — had its sixth consecutive day in the…
Wind turbines operate at a wind farm near solar panels near Palm Springs, California, on March 6, 2024.Mario Tama | Getty ImagesPresident Donald Trump on Wednesday said his administration will not approve solar or wind power projects, even as electricity demand is outpacing the supply in some parts of the U.S.”We will not approve wind or farmer destroying Solar,” Trump, who has complained in the past that solar takes up too much land, posted on Truth Social. “The days of stupidity are over in the USA!!!”The president’s comment comes after the administration tightened federal permitting for renewables last month. The…
The Federal Reserve is expected to lower interest rates in September for the first time since December, at a time when the stock market has rallied to consecutive record highs. Here’s what tends to happen to stocks in this unique backdrop. The fed funds futures market is indicating an 87% chance for a quarter-point rate cut at the Fed’s next policy meeting in September, according to the CME’s FedWatch tool. The S & P 500 has rebounded more than 30% from its April lows to hit consecutive record highs as investors cheered solid corporate earnings and the prospect for lower…
Oli Scarff | Getty ImagesLONDON — European stocks are expected to open broadly higher on Thursday as regional traders keep an eye on the latest economic data from the region.The U.K.’s FTSE index is seen 0.11% higher, Germany’s DAX up 0.12%, France’s CAC 40 flat and Italy’s FTSE MIB up 0.13%, according to data from IG.Traders will be keeping an eye on the latest flash (or preliminary) euro zone and U.K. purchasing managers’ index data for an indication of economic activity in the region. No major earnings reports are due in Europe on Thursday.Asia-Pacific markets mostly rose overnight, with Australian stocks…
The logo of Meta is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025. Gonzalo Fuentes | ReutersMeta Platforms has paused hiring for its new artificial intelligence division, ending a spending spree that saw it acquire a wave of expensive hires in AI researchers and engineers, the company confirmed Thursday. The pause was first reported by the Wall Street Journal, which said that the freeze went into effect last week and came amid a broader restructuring of the group, citing people familiar with the matter. In a statement…
German Chancellor Friedrich Merz (CDU) gives a press statement at the Willard Hotel.Kay Nietfeld/dpa | Picture Alliance | Getty ImagesGermany’s new government has been in power for just over 100 days now, and business leaders say its time to turn policy promises into reality.Chancellor Friedrich Merz campaigned on a pro-business and pro-economic growth platform, vowing reforms and investment that sparked hope in the business community. Optimism was further boosted when coalition negotiations between Merz’s Christian Democratic Union, alongside its sister party the Christian Social Union, and the Social Democratic Party, triggered a major fiscal shift that is set to enable…
The logos of Walmart and Sam’s Club are pictured in Cuautitlan Izcalli, Mexico, January 30, 2025.Raquel Cunha | ReutersWalmart will report quarterly earnings on Thursday, as economists and investors try to gauge how U.S. consumers are responding to President Donald Trump’s decision to raise tariffs on dozens of countries across the globe.Here’s what Wall Street expects for the big-box retailer, according to a survey of analysts by LSEG:Earnings per share: 74 cents expectedRevenue: $176.16 billionAs the largest U.S. retailer, Walmart offers a unique window into the financial health of American households. As higher duties have come in fits and starts…
OpenAI CFO Sarah Friar said Wednesday that even as the company hits revenue milestones, it faces ongoing pressures due to the demand for computing power required for artificial intelligence.”It is voracious right now for GPUs and for compute,” she told CNBC’s “Squawk Box” on Wednesday, adding that insufficient compute, or computing power, to meet the demand of AI is the company’s biggest challenge. “That’s why we launched Stargate. That’s why we’re doing the bigger builds.”Friar said the growing demand for computing power calls for more partners to diversify risk and increase supply, noting builds with Oracle and Coreweave, but said…
Palantir Technologies signage on an options contract ticker as traders work on the floor of American Stock Exchange at the New York Stock Exchange in New York, U.S., on Friday, June 20, 2025.Michael Nagle | Bloomberg | Getty Images If you have any U.S. technology stocks in your portfolio (and let’s face it, who doesn’t?), you might want to look away.For the second day in a row, tech stocks dragged markets lower, with the Nasdaq Composite slipping 0.67%. Juggernauts such as Apple, Amazon and Alphabet were more meh-nificent than magnificent, falling more than 1%.Palantir — the standout S&P 500 stock,…
