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Stocks fell sharply on Thursday after new data released today showed that retail sales slowed in November. The declines also came one day after the Federal Reserve rose interest rates to a 15-year high. As of the closing bell on Thursday, the Dow Jones Industrial Average fell 764.13 points, or 2.25%, to 33,202.74 — in its worst day since September. The S&P 500 dropped 2.49% to 3,895.82 and the Nasdaq Composite tumbled 3.23% to 10,810.53. More from Footwear News Footwear companies also felt… Source link

Amazon (AMZN) has begun rolling out a short-form video and photo feed in its app. Though the feature, called Inspire, immediately drew comparisons to TikTok, Oliver Messenger, director of Amazon Shopping, told Yahoo Finance Live that it wasn’t TikTok’s success that encouraged the company to build Inspire – it was customer feedback. “We spend a lot of time listening to customers,” said Messenger. “We have survey sessions, we have usability labs, and there are also ways within the app… Source link

President Joe Biden, left, and former President Donald Trump, right, in a composite image.Getty Images Former president Donald Trump used Truth Social to tease what he called a “MAJOR ANNOUNCEMENT.” It turns out he’s selling NFT “trading cards” featuring himself for $99 each. President Joe Biden mocked Trump by tweeting he has had some “MAJOR ANNOUNCEMENTS,” too. President Joe Biden mocked what his predecessor billed as a “MAJOR ANNOUNCEMENT!” on Thursday with one of his own, releasing a… Source link

Donald Trump speaks during an election night event at Mar-a-Lago on November 08, 2022 in Palm Beach, Florida.Joe Raedle/Getty Images Digital World Acquisition fell 10% on Thursday after Donald Trump launched a line of $99 NFTs. Trump has teased a “major announcement” on Wednesday that led to a spike in Digital World’s stock price. Those gains were erased on Thursday as SPAC investors digested Trump’s NFT announcement. Former President Donald Trump’s launch of $99 digital NFTs failed to gin up… Source link

Tyler Herro and the Miami Heat play the Houston Rockets on Thursday night. After a busy Wednesday, things quiet down with only four games in the NBA on Thursday. There are some exciting matchups, though, highlighted by the Grizzlies hosting the Bucks. The Suns will also be in action, looking to snap a five-game losing streak when they take on the Clippers. The Jazz and Pelicans will face off again, coming on the heels of the Jazz blowing out the Pelicans on Tuesday. Let’s dig into some of… Source link

It’s been a no good, very bad year for private companies eager to make their debuts on U.S. and global exchanges. Through December 14, there have been just 1,333 initial public offerings worldwide in 2022 which collectively raised $179.5 billion, marking a 45% drop in listings raising 61% fewer dollars compared to 2021. “Amid an environment defined by higher inflation and rising interest rates, investors have spurned new public companies and turned to less risky asset classes,” said Paul Go,… Source link

Our analysts reveal their boldest fantasy predictions for the first round of the fantasy playoffs. Which will come to pass in Week 15? Multiple Colts WRs ready to go off Matt Harmon: I want to be clear that I’m in on Michael Pittman this week. I think he has his best game of the season in a super-friendly matchup. However, I also see Alec Pierce delivering a big game and potentially outscoring his teammate. The Vikings pass defense has been generous all season but they’re getting worse as the… Source link

Investors are learning a painful lesson that Tesla’s stock price is valued on Elon Musk’s pomp and circumstance in addition to the automaker’s fundamentals. “Is Tesla a great company that produces a great car? Absolutely. Is Tesla worth what General Motors should be or Ford or Toyota should be? Of course not,” veteran venture capitalist Bradley Tusk said on Yahoo Finance Live (video above). “So much of Tesla’s share price is based on hype and the pixie dust that Elon Musk is so good at… Source link

Investors are learning a painful lesson that Tesla’s stock price is valued on Elon Musk’s pomp and circumstance in addition to the automaker’s fundamentals. “Is Tesla a great company that produces a great car? Absolutely. Is Tesla worth what General Motors should be or Ford or Toyota should be? Of course not,” veteran venture capitalist Bradley Tusk said on Yahoo Finance Live (video above). “So much of Tesla’s share price is based on hype and the pixie dust that Elon Musk is so good at… Source link

The Grinch might be a short-seller this Christmas season. Retail stocks were tanking across the board on Thursday, as a much worse-than-expected November retail sales report early Thursday, combined with Wednesday’s latest announcement from the Federal Reserve, had markets under heavy selling pressure. In early afternoon trading, shares of Macy’s (M) were off 3.9%, while shares of Target (TGT) and Abercrombie & Fitch (ANF) were down more than 4%, among other notable names underperforming in… Source link