Text size Traders work on the floor of the New York Stock Exchange. Michael M. Santiago/Getty Images The autumn equinox is supposed to bring equilibrium, but the market feels anything but balanced. Thankfully, the market’s spooky season might be ending as October begins. It sure doesn’t feel like it. The Dow Jones Industrial Average fell … Read more
Lucas Jackson/Reuters US stocks plunged on Thursday as bond yields surged following the Fed’s policy meeting. The 10-year US Treasury rate jumped to a high of 4.49%, its highest level since October 2007. A potential government shutdown also could be imminent as the House went on recess after failing to pass a funding bill. US … Read more
Text size The Federal Reserve building in Washington. Stefani Reynolds/AFP/Getty Images A “hawkish pause” at the Federal Reserve’s September policy meeting has pushed bond yields to 17-year highs, as investors accept a higher-for-longer interest rate stance. Whether or not they have further to rise in the coming months, locking in today’s yields on offer is … Read more
Cisco (CSCO) is rounding up $28 billion on Splunk to help protect enterprise data in the fast-moving generative AI era, and it has no fears that the Federal Reserve keeping interest rates higher for longer will lower the returns on the new monster deal. “I don’t think so,” Cisco CFO Scott Herren told Yahoo Finance … Read more
Text size “An idea that started in my bedroom has transformed the way people shop for groceries,” Instacart co-founder Apoorva Mehta said Tuesday. David Paul Morris/Bloomberg One twist in Tuesday’s closely watched Instacart IPO is that it marks the departure of co-founder Apoorva Mehta, who started the company in 2012. Instacart, which is officially known … Read more
Instacart (CART) stock began trading on Tuesday, opening at $42 per share on the Nasdaq. The grocery delivery app had set a price of $30 a share for its IPO, valuing it at roughly $10 billion. The stock rose more than 40% just after it began trading before receding throughout the afternoon to close its … Read more
Elon Musk.Patrick Pleul/Pool/AFP via Getty Images General Motors viewed Tesla in 2009 as a “bunch of engineers playing with laptop batteries.” Nikola CEO Steve Girsky, who served on GM’s board, recalled being told that in a recent Q&A. Tesla now ranks among the world’s most-valuable companies with a $830 billion market capitalization. One of Tesla’s … Read more
Now that summer’s coming to an end, that means it’s time to pull out your scarves, grab a pumpkin spice latte, and reassess your tech stocks. This series helps you decide what to do with your shares of the biggest names in tech — Apple, Alphabet, Amazon, Microsoft, Meta, Nvidia, and Tesla — known as … Read more
Getty Images The stock market’s current valuation represents “a really good deal” for investors, according to Wharton professor Jeremy Siegel. The S&P 500 is trading at a forward price-to-earnings ratio of about 19x, slightly above its historical average. Siegel expects the stock market to hold up relatively well into year-end despite high interest rates and … Read more
Text size Intel says the recovery in the data center business is more delayed than that of the PC processor business. Dreamstime Intel shares hit an air pocket on Tuesday after the chip company made some cautionary comments on data center chip demand in a meeting with analysts connected with the Intel Innovation customer event … Read more
