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New unemployment claims rose but remained near a 52-year low last week, with the weekly pace of new claims holding below pre-pandemic levels as the labor market sees job openings near a record high.  The Labor Department released its latest weekly jobless claims report Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial jobless claims, week ended Jan. 1: 207,000 vs. 195,000 expected and a revised 200,000 during… Source link

Adobe (ADBE) will be a major winner from the build out of the metaverse, says one widely followed Wall Street analyst. “Adobe is the best software play for the metaverse — its creative tools will enable the next generation of the internet,” said Jefferies tech analyst Brent Thill in a new research note Thursday.  Thill reiterated a Buy rating and $680 price target on Adobe. Shares of Adobe were relatively unchanged in pre-market trading Thursday. It closed down 7% at $514.43 on… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, January 6, 2021 Rate hikes no longer theoretical, but ‘front and center’  On Wall Street, there’s an old saying that refers to the market’s reaction to Federal Reserve policy that may be negative for stocks, and implies that investors are having the time of their lives. “Snatching the punch bowl away from the party,” an old… Source link

The end of the NFL regular season brings two major topics: playoffs and awards. Charles Robinson is joined by Yahoo’s Shalise Manza Young to kick off the mid-week podcast discussing the MVP award and recent comments made by Chicago based reporter Hub Arkush that he would not be voting for Aaron Rodgers to take home his second consecutive trophy. Moving onto the playoffs, Charles breaks down where the playoff seeding stands with just one more weekend to go and why the NFC has gone from… Source link

Antonio Brown released a statement on Wednesday blaming his “coach” for his midgame exit from the field on Sunday that preceded his still-pending release from the Tampa Bay Buccaneers.  The statement released through his lawyer Sean Burstyn was the first time Brown has directly addressed the incident in public. He doesn’t reference Bruce Arians by name, but makes multiple references to an interaction with his “coach,” whom he says pressured him to play with an injured ankle during Sunday’s… Source link

Stock futures slipped Wednesday evening heading into overnight trading after equities did an about-face in the earlier session, plummeting from record highs as investors mulled the likelihood of tighter Federal Reserve policy and interest rate hikes as soon as March. Contracts on all three major indexes were down to extend a bearish day, spurred by the release of minutes from the Federal Open Market Committee’s (FOMC) meeting December 15 that flagged concerns from policymakers about worsening… Source link

With markets still concerned with inflation and how the Fed may react in regard to rate hikes, investors are gearing up for an uncertain 2022.  And according to Francis Gannon, co-chief investment officer at Royce Investment Partners, small caps may be the place to weather these uncertainties in the new year. “I think part of the opportunity here with small caps is the fact that they haven’t done as well as some of the other asset classes,” Gannon said on Yahoo Finance Live (video above)…. Source link

Block (SQ) shares hit 52-week lows on Wednesday, closing down more than 8%. The stock slid as part of a recent sell-off in growth names and risky assets amid concerns of Fed rate hikes.  The digital payment firm, formally known as Square, is down about 26% since announcing its corporate entity name change to Block, on Dec. 1 of last year.  The switch was seen as a nod to the company’s increasing focus on blockchain, the technology which underpins cryptocurrencies such as Bitcoin ( Source link

Roku (ROKU) shares dropped more than 11.7% on Wednesday amid an Underweight initiation by Atlantic Equities over concerns of slowing growth and weak penetration in markets abroad.   “We estimate that 80% of Roku’s active accounts are located in the U.S., implying 34% penetration in that market and just 6% in the other markets in which it operates,” analyst Hamilton Faber wrote in a note to investors. The streaming device company’s international markets include Canada, Mexico, Brazil, the… Source link

This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe Wednesday, January 5, 2022 Apple will need to enter uncharted territory to reach $4 trillion Apple (AAPL) on Monday made history by becoming the first publicly traded company with a market cap of $3 trillion. It’s now seesawing back and forth between the mark for the thrill of it. It’s a… Source link