The U.S. Capitol building in Washington, D.C., U.S., June 27, 2025. Elizabeth Frantz | ReutersIt’s “Crypto Week” in Washington.The cryptocurrency industry is set to notch a major win this week if the House can pass two bills that would set up a long-lobbied-for regulatory framework for digital assets.The stablecoin bill, known as the GENUIS Act, has already passed the Senate and looks set to become the first standalone crypto measure signed into law should the House do the same.But the real prize for the industry is a wider and more complex bill on market structure called the CLARITY Act, which…
Author: usaeverydaylife
With earnings season ramping up, several stocks that have a history of surpassing Wall Street expectations present opportunities for investors, according to Evercore ISI. Thirty-five companies in the S & P 500 – and in the Dow Jones Industrial Average – are set to report their latest quarterly results this week, among them big banks like Goldman Sachs and pharmaceutical company Johnson & Johnson . “2Q earnings season will be good,” analysts led by Julian Emanuel, Evercore ISI chief equity and quantitative strategist , said in a report published Sunday. The investment bank expects total second-quarter earnings growth of 10.1%,…
Shortly before a road trip in early 2024, Mary Molina realized her view of Target had changed.Molina, a mother of five and entrepreneur who lives in Westchester, New York, said her weekly trips to Target looked and felt different from her experience before the Covid pandemic. Items such as national brands of laundry detergent or shampoo were often out of stock. She said store employees weren’t as friendly as before, with heads down or eyes glued to a handheld device as they picked orders for an online shopper. And when she browsed for the cute and trendy swimsuits, pajama sets…
People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025.Adam Gray | ReutersApple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker’s U.S. supply chain.MP Materials stock climbed 17%. Shares of Apple were marginally higher.As part of the agreement, Apple will buy rare earth magnets created at the company’s facility in Fort Worth, Texas. Both companies will combine on a new rare earth recycling line in Mountain Pass, California. MP Materials plans to start…
U.S. stocks open higher after Nvidia gains, CPI comes in as expectedThe S&P 500 gained 0.5% in early deals, while the tech-heavy Nasdaq Composite jumped 0.8%.Stocks were boosted by gains in chip giant Nvidia, which said it hopes to resume deliveries of its H20 GPU sales to China.Traders were also poring through the latest U.S. inflation data. The consumer price index in June increased 2.7% annually, matching a consensus poll from Dow Jones. So-called core CPI, which excludes food and energy prices, grew 0.2% month over month, slightly less than expected. — Pia SinghEricsson CEO says European regulation and investment around AI is ‘concerning’Speaking to CNBC’s “Europe Early…
GameStop chief Ryan Cohen said Tuesday his video game retailer is using crypto as an inflation protection, and not trying to mimic others in becoming a large holder of digital tokens. “I look at it as a hedge against inflation and global money printing and and we’ll see what happens,” Cohen said on CNBC’s ” Squawk Box .” In late May, GameStop bought 4,710 bitcoins , worth more than half a billion dollars. The world’s largest cryptocurrency has been on a tear, hitting a record high and topping $120,000. Software company MicroStrategy, now known as Strategy , bought billions of…
Jane Fraser, CEO, Citigroup, speaks at the 28th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 5, 2025.Patrick T. Fallon | AFP | Getty ImagesCitigroup reported second-quarter results on Tuesday that topped analyst expectations after a three-month period that saw the bank’s stock dramatically outperform the market.Citigroup’s net income of $4.02 billion climbed 25% from the same quarter last year. Here’s how the bank’s results compared to Wall Street expectations:Earnings: $1.96 per share vs $1.60 per estimate from LSEGRevenue: $21.67 billion vs $20.98 billion estimateShares of Citigroup rose more than 3% after the…
Otis Worldwide may be poised to rally after a tariff-induced pullback in April and May, according to JPMorgan. The Wall Street investment bank upgraded shares of the elevator and escalator manufacturer to overweight from neutral and raised its yearend price target 8%, to $109 from $101. That implies about 9% upside from Monday’s close. While Otis shares have outperformed the S & P 500 this year, rising 8% year to date, they came under pressure in recent months after the Trump administration announced sweeping reciprocal tariffs in early April. The stock slumped 7% in April and was down another 1%…
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.Spencer Platt | Getty ImagesConsumer prices rose in June as President Donald Trump’s tariffs began to slowly work their way through the U.S. economy.The consumer price index, a broad-based measure of goods and services costs, increased 0.3% on the month, putting the 12-month inflation rate at 2.7%, the Bureau of Labor Statistics reported Tuesday. The numbers were right in line with the Dow Jones consensus, though the annual rate is the highest since February.Excluding volatile food and energy prices, core inflation picked up 0.2% on…
A passenger walks near Uber signage after arriving at Los Angeles International Airport in Los Angeles, California, on July 10, 2022.David Swanson | ReutersBaidu has struck a partnership with Uber to deploy its autonomous cars on the ride-hailing giant’s platform outside the U.S. and mainland China.The first deployments are expected to happen in Asia and the Middle East later this year. The two companies said the multi-year partnership will see “thousands” of Baidu’s Apollo Go autonomous vehicles on Uber globally.Baidu shares jumped 4.5% in premarket trade in the U.S. following the news, while Uber stock was more than 1% higher.For…
