A flag decoration on a fence in front of the United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, US, on Monday, Aug. 14, 2023. Justin Merriman | Bloomberg | Getty ImagesU.S. President Joe Biden violated the Constitution by blocking Nippon Steel’s $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit they said was filed on Monday.The companies want the federal court to scrap Biden’s decision to scuttle the deal so they can secure another shot at approval through a fresh national security review unfettered by political influence.The lawsuit…
Author: usaeverydaylife
Here are the most important news items that investors need to start their trading day:1. Looking for a rebound Traders work on the floor at the New York Stock Exchange on Dec. 10, 2024.Brendan McDermid | ReutersU.S. stock futures ticked higher Monday after a losing week for the major averages. Trading will be shortened again this week, as markets will be closed Thursday to mourn the death of former President Jimmy Carter. Investors will be watching December jobs data due Friday for signs of the U.S. economy’s strength. Earnings from Constellation Brands, Walgreens Boots Alliance and Delta Air Lines will…
In Munich, Bavaria, Upper Bavaria, Germany, on December 28, 2024, shoppers stroll along shopping streets during the festive season, taking advantage of the after-Christmas sales of the stores.Michael Nguyen | Nurphoto | Getty ImagesGerman inflation jumped to a higher-than-expected 2.9% in December, German statistics office Destatis said in the first reading since the country’s government was dissolved late last month.The preliminary Monday print of the country’s consumer price index is harmonized across the euro area for comparability. It compares with a 2.6% forecast from analysts polled by Reuters.The harmonized consumer price index rose by 0.7% on a monthly basis, Destatis…
Former President Nicolas Sarkozy of France on Monday went on trial in Paris over accusations that his 2007 campaign received illegal financing from the Libyan government of Col. Muammar el-Qaddafi.The trial, which is scheduled to last three months, is far from the first for Mr. Sarkozy, 69, a conservative politician who led France from 2007 to 2012, but it represents one of the most serious legal threats to the French politician since he left office.Just last month, Mr. Sarkozy exhausted his final appeal in a separate corruption and influence peddling case, making him the first former French president sentenced to…
American Airlines is moving past some headwinds, TD Cowen said. Analyst Tom Fitzgerald upgraded shares of the Texas-based carrier to buy from hold. Fitzgerald also increased his price target by $8 to $25, which suggests that the stock can soar 47.3% from Friday’s closing level. TD Cowen’s $25 price target appears to be a new high on Wall Street, according to LSEG. Unlike Fitzgerald, the majority of analysts have a hold rating on the stock. American “has emerged from transitory 2024 challenges,” Fitzgerald wrote to clients in a Monday note. “We view consensus estimates as too low given tailwinds and…
2024 was a record year for ETF inflows amid the increasing “retailization” of trading. While the majority of inflows continue to go into plain vanilla index funds, there is an increasing “active” retail component that wants to trade volatile tech stocks despite the fees and risks. Retail traders worldwide are turning to ETFs to get access to what they want the most: volatile tech stocks. These investors not only seek volatility, they seek to trade it with leverage. The U.S. market, and particularly the ETF market, is giving them what they crave: access to tech stocks they know and love (…
Prime Minister of Italy Giorgia Meloni on Nov. 20, 2024, in Buenos Aires, Argentina.Tomas Cuesta | Getty Images News | Getty ImagesItalian Prime Minister Giorgia Meloni made a surprise visit to Mar-a-Lago on Sunday, meeting incoming President Donald Trump for the second time since he won the U.S. election in November.During the meeting in Florida, Trump described Meloni as a “fantastic woman… she’s really taken Europe by storm” in a briefing with reporters.Meloni, meanwhile, posted on X that she’d had a “nice evening” with Trump, adding that she was “ready to work together,” according to a Google translation of her post.She…
There’s light at the end of the tunnel for Boeing , according to Barclays. Analyst David Strauss upgraded the aerospace giant to overweight from equal weight, noting he’s positive for the first time since 2019. Strauss also upped his price target by $20 to $210, now reflecting the potential for shares to rally 23.6% over Friday’s close. “We think upside for the stock now mostly relies on sustained positive momentum for production and deliveries, which we believe BA is poised to demonstrate in 2025,” Strauss wrote to clients in a Monday note. “While we don’t see an overwhelmingly compelling upside…
Platforms B and C, offshore oil and gas platforms operated by DCOR, LLC, in the Dos Cuadras Field off the coast of Santa Barbara, California, US, on Monday, Jan. 15, 2024. Eric Thayer | Bloomberg | Getty ImagesThe White House announced Monday that President Joe Biden would ban new offshore oil and gas drilling along most of the U.S. coastline.The order will protect some 625 million acres of ocean along America’s Atlantic and Pacific coasts, the Gulf of Mexico and Alaska’s Bering Sea from “environmental and economic risks and harms,” the White House said in a statement announcing the move. It is also an attempt to protect Biden’s climate legacy from the…
UK firms are planning to raise prices to cover higher tax payouts as confidence among businesses tumbled to its lowest level since the market-rocking “mini-budget” crisis of fall 2022, according to a survey by the British Chambers of Commerce.The trade group said sentiment had “declined significantly” in its largest poll since the Labour government’s debut budget last October, which included a hike in the amount many employers pay out in National Insurance (NI), a tax on earnings. The BCC said 63% of businesses cited tax as a worry in the survey, up from 48% in the third quarter. More than half (55%) said they expect prices…
