U.S. stocks closed with losses Tuesday as last year’s selling pressures poured over into a busy first trading week of 2023. The S&P 500 (^GSPC) dropped 0.4%, while the technology-heavy Nasdaq Composite (^IXIC) fell 0.8%. The Dow Jones Industrial Average (^DJI) capped the session just below breakeven. Apple (AAPL) shares sank 3.7% on Tuesday to the lowest level since June 2021, bringing the company’s market capitalization below $2 trillion — a symbolic milestone for the tech stock rout that… Source link

House Minority Leader Kevin McCarthy arrives for a meeting with House Republicans at the Capitol on Tuesday. (Anna Moneymaker/Getty Images) For the first time since 1923, the U.S. House of Representatives failed Tuesday to elect a new speaker on the initial ballot, signaling the start of what could be a fractious, days-long drama to find a Republican successor to former Democratic leader Nancy Pelosi. But for Rep. Kevin McCarthy of Bakersfield, Calif. — the Republican leader who was also… Source link

House Minority Leader Kevin McCarthy arrives for a meeting with House Republicans at the Capitol on Tuesday. (Anna Moneymaker/Getty Images) For the first time since 1923, the U.S. House of Representatives failed Tuesday to elect a new speaker on the initial ballot, signaling the start of what could be a fractious, days-long drama to find a Republican successor to former Democratic leader Nancy Pelosi. But for Rep. Kevin McCarthy of Bakersfield, Calif. — the Republican leader who was also… Source link

Domantas Sabonis has been integral to the Kings having a positive record so far this year. It will be a quiet night in the NBA on Tuesday with just three games on the schedule. There is the potential for a couple of blowouts, with the Bucks hosting the Wizards and the Celtics taking on the Thunder. We could also see a high-scoring affair when the Jazz host the Kings. The Jazz will be shorthanded, though, with Collin Sexton (hamstring) expected to miss at least the next week. Let’s dig… Source link

The Federal Reserve, FDIC, and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Tuesday warning about “significant” risks crypto assets may pose to the broader banking system. “It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the agencies said in a joint statement. “Given the significant risks highlighted by recent failures of several large crypto-asset companies, the… Source link

Sam Bankman-Fried pleaded not guilty to eight different counts of wire fraud, securities fraud, and conspiracy before a U.S. federal court in the Southern District of New York on Tuesday. U.S. prosecutors allege that under Bankman-Fried’s direction, FTX, once considered one of the largest and most-trusted cryptocurrency exchanges, transferred billions in customer assets to his trading firm, Alameda Research. If convicted of these charges, Bankman-Fried faces up to 115 years in prison. A trial… Source link

Costco (COST) stock could be nearing a key inflection point after a challenging holiday season, provided execs finally reveal a long-rumored profit-boosting member fee increase. “We believe we may reach a compelling tactical inflection point at some time in the next 2-3 months ahead of a potential membership fee increase in the spring,” John Heinbockel, analyst at Guggenheim, wrote in a new client note on Tuesday. Costco’s last membership fee increase took place on June 1, 2017. The warehouse… Source link

A new hands-on video was posted today of the alleged Google Pixel 7a. The 49-second clip shows a device that reflects previous leaks and rumors about Google’s next mid-ranged Pixel. The device in question, posted on Slashleaks (first spotted by 9to5Google), looks similar to the Pixel 6a and Google’s 2022 flagships. The device name in Android 13 settings says “Pixel 7a,” and the handset runs internal pre-release (“design validation test”) software. The phone’s language is also… Source link

Bed Bath & Bust. Bed Bath & Beyond stock fell more than 10% in Tuesday trading, a sharp reversal from a 3% move higher in pre-market activity, to a level not seen since the close of trading on July 2, 1993. The company’s ticker page was among the top five most visited on the Yahoo Finance platform. The sell-off likely reflects rising investor angst surrounding two key dates for Bed Bath & Beyond, both of which could offer clues on whether the struggling retailer survives the year. Bed Bath &… Source link

Welcome to a new year and also to the first Google Pixel update of the year. Google kicked off 2023 by releasing the January Android security patch and update for the Pixel 4a up through the Pixel 7. I know this may seem like a day late and a weird Tuesday release, but there was an observed holiday in there. Since this isn’t a big quarterly update, we aren’t actually expecting much in this build. Since we got a Pixel Feature Drop in December that brought to public a Quarterly… Source link