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(Bloomberg) — The week is ending on a higher note for Big Tech on hopes a relentless selloff may be nearing exhaustion. But Friday’s rally can’t completely wipe out a sobering signal from Apple Inc. shares. Most Read from Bloomberg After acting as a ballast for the broader market for most of the year, the stock broke down this week, with losses through Thursday exceeding 9%. Even after Friday’s rebound, Apple is now underperforming the S&P 500 for the year. And this, analysts say, is… Source link

High inflation moderated a wee little bit in April, satisfying nobody. President Biden now says fighting inflation is his top priority, but markets don’t seem to believe him. Stocks are manic, gas prices are at new record highs, homes are getting more expensive and something weird is happening in crypto that may or may not spill into the broader economy. Inflation in April was 8.3%, down from 8.5% in March. Okay sure, it went down, not up, great, but economists thought it would drop by… Source link

Giannis Antetokounmpo and the Milwaukee Bucks look to close out the series in Game 6 against the Boston Celtics. It’s hard even to judge who the best team is at this point, and it’s leaving all of these series up in the air. Let’s take a look at this Friday card on Yahoo! Injury Report Core Plays Giannis Antetokounmpo (PF – MIL): $58 The Bucks pulled off one of the biggest wins of the postseason in Game 5, and Antetokounmpo is doing everything possible to repeat right now. The… Source link

When President Biden signed the Bipartisan Infrastructure Law last November, it promised $45 billion to help upgrade America’s spotty broadband infrastructure. This week, administration officials offered more details on how that money will be made available through a new “Internet for All” program that aims to bring high-speed internet to every part of the U.S. “We are going to ensure every American will have access to technologies that allow them to attend class, start a small… Source link

Even for someone who has designs on a career in filmmaking, Gwenna Gentle couldn’t believe it. After sitting on the side of the highway for several minutes during what she thought was a routine traffic stop, Gentle said a sheriff’s deputy in Liberty County, Georgia, got on the charter bus she and her Delaware State lacrosse teammates were riding in and started rambling about human trafficking and drugs. “When he said, ‘What we’re looking for is lost children that are returned to families and… Source link

Brian Chesky co-founded Airbnb (ABNB) in the midst of the Global Financial Crisis, and he remembers Y Combinator Co-Founder Paul Graham warning him that “there might be no investors” when Airbnb presented at the Spring 2009 Demo Day. These days, with the tech-heavy Nasdaq Composite index in the midst of its worst sell-off since 2008, Chesky told Yahoo Finance Live (video above) that “this might be the end of a moment. But there’s always the next moment. If you’re building something… Source link

WNBA star and two-time Olympic gold medalist Brittney Griner leaves a courtroom after a hearing, in Khimki just outside Moscow, Russia, Friday, May 13, 2022. Griner, a two-time Olympic gold medalist, was detained at the Moscow airport in February after vape cartridges containing oil derived from cannabis were allegedly found in her luggage, which could carry a maximum penalty of 10 years in prison. (AP Photo/Alexander Zemlianichenko) Brittney Griner appeared at a hearing in a Russian… Source link

U.S. stock futures gained Friday morning, though the major indexes are still headed for losses for the week after concerns over persistent inflation and the resilience of the U.S. economy stirred up further volatility in recent sessions. Contracts on the S&P 500 and Nasdaq rose more than 1%, and Dow futures added more than 200 points during the pre-market sessions. The sharp move higher came after Federal Reserve Chair Jerome Powell reaffirmed in an interview with Marketplace public radio on… Source link

(Bloomberg) — Money is leaving every asset class and the exodus is deepening as investors rush out of names like Apple Inc., according to Bank of America Corp. strategists. Most Read from Bloomberg Equities, bonds, cash and gold all saw outflows in the week ended May 11, strategists led by Michael Hartnett wrote in a note, citing EPFR Global data. At $1.1 billion, technology stocks suffered their biggest withdrawals so far this year, second only to financials, which lost $2.6 billion. “The… Source link

Crypto billionaire Sam Bankman-Fried took a 7.6% stake in Robinhood Markets.FTX Crypto billionaire Sam Bankman-Fried disclosed that he owns about 56.3. million shares in Robinhood Markets. News of his 7.6% stake in Robinhood sent shares of the trading platform up over 30% in late trade. Bankman-Fried is the founder and CEO of cryptocurrency exchange FTX. Shares in Robinhood Markets surged more than 30% in late trade after crypto billionaire Sam Bankman-Fried disclosed a 7.6% stake in the online… Source link