Apollo is eyeing leadership changes at Yahoo as it prepares to take over the media company. Former Hearst magazines head Troy Young has been among those advising Apollo, fueling speculation he could be tapped for a leadership role there. Apollo is expected to try to turn around the company by investing in editorial, subscriptions, and commerce. As Apollo Global… Source link
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Stock futures opened little changed Tuesday evening after another record-setting session, with investors looking ahead to a key Federal Reserve event later this week. Contracts on the S&P 500 were flat to slightly higher. The index set record intraday and closing highs during the regular trading day, with investors piling into stocks in the energy and consumer discretionary sectors that had lagged over the past month. The Nasdaq also gained another 1%, rising for a fourth straight session and… Source link
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Bitcoin crested above $50,000 on Monday, benefiting from simultaneous supply chain shortages and a crackdown from Chinese regulators – putting bitcoin mining on par with profits near the coin’s April all-time-high. Now, building infrastructure for the energy-intensive business poses the greatest challenge for companies and individuals hoping to reap big money. That means finding cheap and reliable energy sources, striking deals and building out mining facilities. “Throughout the summer,… Source link
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Inflation expectations are picking up as bond yields (^FVX, ^TNX, ^TYX) surge higher Tuesday and the reopening trade kicks back into high gear. As the debate heats up over whether these signs of price inflation are transitory or not, one prominent Wall Street strategist provides some context and warns not to view inflation too simplistically. At a recent Yahoo Finance Plus webinar, Liz Ann Sonders, chief investment strategist at Charles Schwab, broke down the dynamics of inflation, beginning… Source link
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A new study from the Centers for Disease Control and Prevention (CDC) bolsters the argument that unvaccinated individuals are at a much higher risk of experiencing the worst outcomes of COVID-19 than vaccinated individuals. “These data indicate that authorized vaccines protect against SARS-CoV-2 infection and severe COVID-19, even with increased community transmission of the newly predominant Delta variant,” the CDC report stated. Between May 1 and July 25, 2021, unvaccinated residents of… Source link
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(Bloomberg) — A basket of so-called meme stocks is surging, fueled by afternoon rallies for GameStop Corp. and AMC Entertainment Holdings Inc. The group of 37 retail-trader favorites tracked by Bloomberg soared 10% Tuesday, the most since early June, as trading volumes accelerated. GameStop and AMC, two of the most closely-followed meme stocks, surged 28% and 20% respectively. The afternoon rally caught most analysts by surprise as investors await insights from Federal Reserve Chairman Jerome… Source link
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Bulls beware. Bears are watching a technical indicator for clues of a sign of what could come. The Hindenburg Omen, which measures the ratio between the new 52-week highs and lows, was triggered on back-to-back days last week. The technical indicator is used to predict the likelihood of a market crash. But the signal isn’t followed by many traders — because it doesn’t have a reliable track record. Art Cashin, markets guru and director of floor operations at UBS, recently described the… Source link
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Billionaire bond investor Jeffrey Gundlach, founder and CEO of $137 billion DoubleLine Capital, says as long as the Federal Reserve’s stimulus continues, “The stock market can stay in very overvalued territory.” Speaking to Yahoo Finance Live on Monday, Gundlach, known as the “Bond King,” said that while U.S. stocks are overvalued they look cheap compared to bonds. “[As] overvalued as stocks are relative to historical measures — like the price-to-earnings ratio, or Dr. Shiller’s CAPE ratio,… Source link
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President Joe Biden is set to have his first high-profile meeting with the heads of some of the world’s biggest tech companies on Wednesday in Washington to discuss improving the nations’ cybersecurity preparedness and supply chain security. Newly minted Amazon (AMZN) CEO Andy Jassy will be among the attendees, people familiar with the matter told Yahoo Finance. Apple (AAPL) CEO Tim Cook and Microsoft (MSFT) CEO Satya Nadella are also on the guest list, Bloomberg reports. The meeting,… Source link
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By this point in the COVID-19 pandemic, Best Buy was supposed to be headed back to the days of Best Buy of old — reasonable levels of sales and earnings growth as people bought tech gear only when really needed or around a cool product launch. But that hasn’t happened, actually quite the contrary. With work life likely changed forever because of the pandemic — at the very least well into 2022 judging by pushed out return-to-office dates from the likes of Apple and others — Best Buy… Source link
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