Economist Marc Sumerlin, one of nearly a dozen reported contenders for Federal Reserve chair, said Thursday he’d be interested in the job and believes an aggressive interest rate cut would be appropriate.Sumerlin, a former senior economist under then-President George W. Bush, said on CNBC that lowering the Fed’s key rate would be an easy decision now.The current yield structure combined with weakness in the labor market and stable inflation “tells us that we could easily do a 50 basis point cut … without disrupting anything at all. So it seems like pretty much a no-brainer to me.” A basis point…
Author: usaeverydaylife
Tim Cook, chief executive officer of Apple Inc., during the Apple Worldwide Developers Conference (WWDC) at Apple Park campus in Cupertino, California, US, on Monday, June 9, 2025. David Paul Morris | Bloomberg | Getty ImagesApple on Thursday announced a redesigned blood oxygen feature for some Apple Watch users, following a years-long intellectual property dispute over the capability.Apple said the redesigned feature is coming to some Apple Watch Series 9, Series 10, and Apple Watch Ultra 2 users on Thursday. The update was possible because of a recent U.S. Customs ruling, the company said.In 2023, the International Trade Commission found…
Little-known chipmaker SiTime could be the next big name in the semiconductor universe, according to UBS. Analyst Timothy Arcuri initiated coverage of the company with a buy rating and $260 price target, which indicates about 20% upside ahead. Arcuri thinks SiTime is a leading precision timing company, which in the semiconductor industry refers to devices that generate and control signals needed for electronic circuits. These are vital for the operation, data transmission and other actions in semis. “With new silicon based solutions, SiTime is disrupting the timing market – the “heartbeat” of the electronics world – and we believe will…
Paramount Skydance shares have quickly turned into the mecca for momentum-driven retail traders who piled into the stock on hype around UFC matches, according to Don Bilson, head of event-driven research at Gordon Haskett. The stock with the ticker PSKY started trading last Friday after Paramount Global’s merger with Skydance Media finalized. On Wednesday, six days since its debut, shares skyrocketed 37% to become the top-performer in the S & P 500 that day. PSKY 5D mountain Paramount Skydance (PSKY) shares in the past five days “Congratulations are in order this morning for Shari Redstone, David Ellison, the old Paramount…
Digital render of NEOM’s The Line project in Saudi ArabiaThe Line, NEOMSaudi Arabia’s mammoth sovereign wealth fund saw a major decline in investments in its so-called “gigaprojects,” amounting to an $8 billion write-down at the end of 2024 — despite assets under management reaching nearly $1 trillion, according to its annual report.Gigaproject investments declined by 12.4% to 211 billion Saudi riyal ($56.2 billion). Meanwhile, assets overseen by the PIF climbed 19% from the end of 2023 to around $913 billion, making it one of the largest and fastest-growing sovereign wealth funds on the planet. The gigaprojects, which include the futuristic…
The stock market has been on a tear over the past month, as Wall Street mulled over quarterly earnings reports, President Donald Trump ‘s tariff moves, and the Federal Reserve’s next monetary policy decision. Since last month’s third annual meeting of the CNBC Investing Club, the S & P 500 and Nasdaq hit nine and 14 record closing highs, respectively. Both stock benchmarks hit those milestones again Wednesday. From our July 11 gathering at the New York Stock Exchange to Wednesday’s market close, the S & P 500 advanced more than 3.3% and the tech-heavy Nasdaq gained roughly 5.5%. The…
Latin American online payments provider dLocal is finally on a path towards long-term growth, according to HSBC. Analyst Neha Agarwala upgraded shares to buy from hold and lifted her price target by $3.50 to $15, suggesting the stock can gain more than 28% over the next year. DLocal, up 51% in the last year and another 20% in early trading Thursday after posting second-quarter results Wednesday, has been widening its global expansion. In January, for example, the Uruguayan company secured a U.K. payment institution license . HSBC sees it benefiting from a lower cost of equity and more operating leverage in…
AST Spacemobile is a “high risk, high reward investment,” according to UBS. UBS resumed coverage of stock in the satellite design and manufacturer with a buy rating on Thursday and raised its price target to $62 per share from $38. The firm’s forecast calls for about 24% upside from Wednesday’s $50.05 close. ASTS YTD mountain AST Spacemobile stock in 2025. Analyst Christopher Schoell pointed to the company’s cash hoard of about $1.5 billion and a broader-than-expected government opportunity, coupled with potentially greater visibility into regulations, as reasons he’s optimistic on the stock. “Along with billions of potential funding for satellite…
Ether and bitcoin.Yuriko Nakao | Getty ImagesBitcoin hit a new record late Wednesday as ether climbed even closer to its all-time high.The flagship cryptocurrency rose as high as $124,496, surpassing its July record of 123,193.63, according to Coin Metrics. Ether rose to $4,791.19 overnight, edging closer to its 2021 record of $4,866.01.Both coins took a hit Thursday, however, after July’s wholesale inflation data came in much hotter than expected. Bitcoin was lower by 2% at $119,704.09, while ether fell the same amount to $4,612.40.Stock Chart IconStock chart iconBitcoin hit a new record overnight, surpassing its July all-time highThe initial gains…
Check out the companies making headlines in premarket trading. Li Auto — Shares fell about 2% following JPMorgan’s downgrade of the Chinese electric vehicle company to neutral. Analyst Nick Lai cited stiff competition as a reason for caution. Tapestry — The Coach New York and Kate Spade parent sank more than 10% after its full-year outlook missed analyst estimates. Tapestry forecast full-year earnings of $5.30 to $5.45 per share, while analysts polled by FactSet were looking for $5.49. Deere — The farm equipment maker dropped about 6% after Deere trimmed the top end of its full-year outlook. The Moline, Illinois-based…
