I was at a family wedding last Saturday, waiting in line at the bar when I noticed another guest checking his betting app. When I asked how he was doing, he grumbled about Alabama, well, screwing up, his parlay.Week 6’s seemingly lackluster slate instead demonstrated why there are no bad weekends of college football, as many have pointed out in the days since. It was also a reminder not to dismiss a matchup based purely on the magnitude of its gambling line, particularly in conference play (Alabama was a 23.5-point favorite over Vanderbilt). In an NFL-dominant landscape where double-digit favorites…
Author: usaeverydaylife
Jeff Greenberg | Universal Images Group | Getty ImagesInflation has eased gradually across the broad U.S. economy — and some areas of consumer spending, like furniture and gasoline, have even deflated over the past year.Deflation is when prices decline for goods and services.It’s rare for prices to fall from their current levels across the economy at large, economists said.However, prices for many physical goods have deflated as supply-and-demand dynamics return to normal following pandemic-era contortions.”Outside of goods prices, I don’t think we’ll see price cuts,” said Mark Zandi, chief economist at Moody’s.”[Businesses] will hold the line on price if demand…
Banks have kicked off the third-quarter earnings season on a strong note, and UBS expects this momentum to continue. Investors sent stocks lower on Thursday after September’s consumer price index revealed that the pace of price increases over the past year was higher than economists had forecasted. But stocks made a comeback on Friday morning, boosted higher by strong third-quarter results from JPMorgan Chase , Wells Fargo and BlackRock . The S & P 500 touched a record in early trading and was headed for its fifth-straight winning week. UBS expects this strong performance to set the precedent for a…
The upcoming earnings season could decide what’s next for stocks. The S & P 500 and Dow Jones Industrial Average are at all-time highs after a strong jobs report last week and some cooler inflation data this week raised investor confidence in equities. Tech stocks outperformed this week, with the sector up 2%, as investors rotated back into risk-on assets. Nvidia advanced more than 7%. And, with earnings season set to ramp up, that could mean further gains. On a median basis, the S & P 500 advances 2% in the first four weeks of a given reporting period, according…
For more than 20 years, Rafael Nadal leaned into his reputation for authenticity.Roger Federer was the tennis politician, an artless beacon of neutrality. Novak Djokovic was fated to manage the difficult task of fitting into a sport that the Nadal-Federer rivalry had come to define, by trying on a series of identities. He has only recently settled into his best fit: a tennis statesman prone to releasing the antagonistic tennis demon that he so relishes and which always lurks within.Rafa just did Rafa. He was never afraid to be painfully honest with what was unfolding in front of his eyes…
Digital render of NEOM’s The Line project in Saudi ArabiaThe Line, NEOMSaudi Arabia’s Public Investment Fund (PIF) has allocated $5.2 billion out of $8.5 billion raised through green bonds to projects as of June 2024, according to its Allocation and Impact Report released on Friday.This allocation figure is up from $1.3 billion in June of the previous year.A green bond is a type of income used to finance projects that have environmental benefits. The PIF became the first sovereign wealth fund to issue a green bond back in October 2022. It followed up with a second green bond offering in…
Editor’s note: Check back shortly for a full look at our earnings analysis. Wells Fargo extended its recent winning streak to six straight sessions Friday despite missed expectations on third-quarter revenue. Investors focused instead on the bank running leaner and generating better-than-expected profitability. Total revenue for the three months ended Sept. 30 fell 2.4% versus last year, to $20.37 billion, missing analysts’ expectations of $20.42 billion, according to LSEG. Wells Fargo reported results before Friday’s opening bell. Earnings of $1.52 per share, however, was above Wall Street’s consensus estimate of $1.28 per share, LSEG data showed. Adjusted EPS excluded a…
International Business Machines (IBM) … too much of a good thing. IBM is up twice as much as the market the past 12 months (and, per chance, twice as much as the S & P 500 Technology Sector and the NASDAQ 100 Index). The stock is trading in an increasingly steep and uncorrected uptrend and far above its 150-day moving average. So far above, in fact (25% above) it is at present further away from its 150-day moving average than at any time in the past 20 years. At this point, the idea is to take measures, before – as…
Check out the companies making headlines in midday trading: Tesla — Shares of the electric vehicle maker tumbled more than 7% after its robotaxi event underwhelmed investors . Morgan Stanley analysts noted that the event “overall disappointed expectations” due to a lack of details in several areas, including how the company is going to compete against ride-sharing companies, such as Lyft and Uber . Shares of those names jumped following the event, with both surging about 10%. Wells Fargo — The stock gained 6% after the San Francisco-based lender reported better-than-expected profits . Third-quarter adjusted earnings were $1.52 per share,…
In this photo illustration, a Core Weave logo is displayed on a smartphone with stock market percentages on the background.Omar Marques | SOPA Images | Lightrocket | Getty ImagesCoreWeave, an Nvidia-backed artificial intelligence startup that rents out chips to other companies, announced Friday that it has a new $650 million credit line to expand its business and data center portfolio.The cloud infrastructure company said it’s raised $12.7 billion from equity and debt investors in the past 18 months, including a $1.1 billion round in May at a $19 billion valuation.By the end of 2024, CoreWeave plans to have 28 data…
