With the stock market near record highs, investors may be itching to go all in — but the last thing they should be is reactionary, according to financial advisors. Stocks moved higher on Wednesday, with the S & P 500 hitting a new intra-day high. On Monday, both the S & P 500 and Nasdaq Composite closed at record levels. Despite the volatility that hit the market this year, the three major averages all ended the second quarter on Monday with solid gains. Growth stocks have outperformed value stocks so far this year, with the iShares S & P 500…
Author: usaeverydaylife
Amazon logo on a brick building exterior in San Francisco on Aug. 20, 2024.Smith Collection | Gado | Archive Photos | Getty ImagesAmazon is discontinuing its standalone free streaming TV service next month as it looks to consolidate its content offerings under Prime Video.The service, called Freevee, launched in 2019 underneath IMDb, the film and TV site Amazon bought in 1998. It offered a stable of free, ad-supported video, including original series and some Prime Video content, primarily through an app.The Freevee app will shut down in August, at which point users will be able to watch shows and movies…
The “ChatGPT moment” for autonomous vehicles has finally arrived, according to Bank of America, which sees a trillion-dollar market for the space. The firm detailed a list of stocks to invest in the theme. In a Tuesday report, Bank of America identified more than 200 operational autonomous vehicle projects globally. Fully commercial robotaxis are running in seven cities — including Waymo in Austin , San Francisco and Los Angeles, and Baidu’s Apollo Go in Wuhan, China — and 20 more are in progress, according to the firm. “Autonomous vehicles (AVs) are having their ChatGPT moment and are no longer a…
Microsoft on Wednesday announced its biggest round of layoffs this year — aimed at driving efficiencies and taking advantage of new technologies. Jim Cramer is not ready to blame AI for the job cuts. The software giant said it plans to reduce its global workforce by less than 4%, which translates to about 9,000 positions. It announced hundreds of job cuts in June and more than 6,000 in May . Roughly 1% of its workforce was eliminated in January based on performance. “The typical interview we have is how much of these layoffs are AI?” Jim noted on ” Squawk…
Goldman Sachs and Wells Fargo shares hit record highs Wednesday after the Wall Street banks announced dividend hikes following Tuesday’s close. Both join the laundry list of Club holdings to hike their payouts to investors in 2025. After the financial firms passed the Federal Reserve’s annual stress test on Friday night, Goldman said Tuesday that it is raising its quarterly dividend payout to $4 a share from $3. That’s a 33% increase and the largest among the 15 portfolio names that boosted their dividends so far this year. Meanwhile, Wells Fargo hiked its quarterly payout by 12.5% to 45 cents…
Healthcare shares performed well on Tuesday, and one notable mover was Viatris (VTRS) . The stock popped up in a routine review of S & P 500 components, where we constantly look for potential basing formations or bullish patterns — whether near highs or attempting to bottom after long periods of underperformance. VTRS clearly falls into the latter category. As we can see, the stock is attempting to break out of two overlapping inverse head-and-shoulders patterns. A decisive move through the $9.50 area would trigger the larger formation, setting up a potential target near $12.30. A logical stop loss would be just…
Six months after wind-whipped wildfires killed 30 people and destroyed thousands of homes and businesses in and around Los Angeles, the scenes in Altadena and Pacific Palisades are still horrific, with block after block of burned out homes and businesses. But every so often, there are small signs of rebirth, from a property owner cleaning up their lot, or workers repairing a home that was merely damaged. Occasionally, one can even see homes being rebuilt — the owner having navigated the complicated permitting process, and, crucially, having managed to obtain insurance.”The situation in insurance has actually been remarkably stable, considering everything…
One of the most popular gaming YouTubers is named Bloo and has bright blue wavy hair and dark blue eyes. But he isn’t a human — he’s a fully virtual personality powered by artificial intelligence.”I’m here to keep my millions of viewers worldwide entertained and coming back for more,” Bloo said in an interview with CNBC. “I’m all about good vibes and engaging content. I’m built by humans, but boosted by AI.”Bloo is a virtual YouTuber, or VTuber, who has built a massive following of 2.5 million subscribers and more than 700 million views through videos of him playing popular…
Check out the companies making headlines in midday trading Robinhood — The brokerage stock climbed 7% as traders speculated that it could soon be added to the S & P 500. A spot in the index was opened by Hewlett Packard Enterprise’s acquisition of Juniper Networks, which officially closed on Wednesday. Tesla — Shares of the electric vehicle maker jumped 4% after second-quarter vehicle deliveries came in about in line with estimates. Tesla delivered 384,000 vehicles during the period, a 14% decline from a year ago. The number was just shy of analyst estimates of 387,000 deliveries, according to FactSet.…
Health care stocks could be the place to hide out for investors bracing for what many expect will be a volatile second half of the year. The industry is just starting to outperform, as traders rotate into a sector that is starting to look cheap after lagging this year. S & P 500 health care stocks are selling at 17 times forward earnings, far below their historical valuation. The entire S & P 500 sells for 23 times forward P/E. Exclude Eli Lilly , a high-flier thanks to its diabetes- and obesity treatments, and health care looks even more attractively…
