- S&P 500
4,221.02 +0.99% - Dow 30
33,061.57 +0.47% - Nasdaq
13,100.98 +1.28% - Russell 2000
1,767.94 +1.05% - Crude Oil
70.15 +3.03% - Gold
1,995.10 +0.66% - Silver
23.98 +1.67% - EUR/USD
1.0764 +0.68% - 10-Yr Bond
3.6080 -0.80% - GBP/USD
1.2526 +0.70% - USD/JPY
138.8300 -0.33% - Bitcoin USD
26,926.36 -0.66% - CMC Crypto 200
599.29 +0.41% - FTSE 100
7,490.27 +0.59% - Nikkei 225
31,148.01 +0.84%
Latest Financial and Business News
Yahoo Finance VideoLululemon, Five Below, Broadcom: After-hours movers
Lululemon, Five Below, and Broadcom are all moving in after-hours trading. Yahoo Finance Live's Seana Smith breaks down the action.
AP FinanceFederal government orders desegregation in 32 Mississippi schools
Federal courts have issued desegregation orders for 32 school districts in Mississippi, the U.S. Department of Justice’s Civil Rights Division's assistant attorney general said Thursday. The desegregation orders fit into a broader body of civil rights work launched in Mississippi that is examining jails, police departments and hate crimes in the state, according to Assistant Attorney General Kristen Clarke of the U.S. Department of Justice’s Civil Rights Division.
Yahoo Finance VideoStudent loan repayments are likely to restart: How to adjust your budget for the expense
As part of the debt ceiling deal, borrowers are going to have begin paying their student loans again. Taylor Price, founder of Priceless Tay and Co-founder of Dfinitiv explains how to adjust your budget to accommodate the bill.
ReutersSouthwest Airlines CEO sees industry-wide pilot shortage persisting for three years
Southwest Airlines Co CEO Bob Jordan said on Thursday that an industry-wide shortage of pilots is expected to last for three years due to the challenges carriers face in training new aviators. Jordan, speaking at the Bernstein Conference, said the Dallas-based airline has about 40 planes that it currently cannot fly because of pilot constraints. Analysts at Jefferies estimate the United States is 10,000 pilots short.
- AP Finance
Airbnb sues New York City over restrictions on short-term rentals
Airbnb sued New York City on Thursday over an ordinance that the company says imposes arbitrary restrictions that would greatly reduce the local supply of short-term rentals. Airbnb said called the restrictions “extreme and oppressive” and a de facto ban against short-term rentals that left the company no choice but to sue. San Francisco-based Airbnb filed the lawsuit in state court in Manhattan.
ReutersU.S. Treasury's Yellen urges new World Bank chief to 'get the most' of balance sheet
U.S. Treasury Secretary Janet Yellen on Thursday told incoming World Bank Group President Ajay Banga to "get the most" out of the bank's balance sheet and mobilize more private capital to finance climate change initiatives and global development objectives, the Treasury said. In a readout of Yellen's meeting with Banga a day before the former Mastercard CEO takes office at the World Bank, the Treasury said she emphasized the need to continue implementing recommendations from a G20 review of the bank's capital adequacy framework.
Yahoo Finance VideoAI is 'going to radically change' how we use PCs, says HP CEO
HP's second quarter results were mixed. Revenue was slightly lighter than analysts were expecting. It comes amid a backdrop of slowing PC sales. HP CEO Enrique Lores expects PC demand to pick up in the coming months. Lores also anticipates benefiting from AI, telling Yahoo Finance Live that AI will "radically change" how we use PCs.
BloombergBig Tech Powers Stock Gains in Run-Up to Jobs Data: Markets Wrap
(Bloomberg) -- A renewed rally in tech giants extended this year’s surge in the S&P 500 to almost 10% ahead of Friday’s jobs report amid bets the Federal Reserve will pause its interest-rate hikes in June.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Passes the House, Easing US Default ConcernsWall Street Banks Are Using AI to Rewire the World of FinanceBillionaire Perot Warns of Real Estate Rec
- Reuters
LatAm property tech unicorn Tuhabi lands $50 million credit line from development bank
Latin American property technology startup Tuhabi is set to receive a $50 million credit line from the Inter-American Development Bank's (IDB) financing arm, which it will use to ramp up operations in Mexico, the company said Thursday. The funds for the so-called unicorn, a startup with a valuation over $1 billion, follow a $100 million credit line from Victory Park Capital it announced last month - even as funds for startups, particularly in Latin America, are increasingly running dry. The IDB funds "will allow (the company) to purchase more inventory" in Mexico, Tuhabi's chief financial officer, Marcos Kantt, said in an interview ahead of the announcement.
- AP Finance
Chervon recalls nearly 90,000 hedge trimmers after laceration injury reports
Nearly 90,000 hedge trimmers are being recalled because of a laceration hazard that has caused multiple injuries, the U.S. Consumer Product Safety Commission said Thursday. Chervon North America is recalling about 85,000 of its EGO Power+ Model HT2410 Cordless Brushless Hedge Trimmers sold in the U.S. and additional 4,000 sold in Canada. EGO Power+ Model HT2410 Cordless Brushless Hedge Trimmers have a 24-inch blade.
BloombergBroadcom Suffers Sales Slowdown, Even as It Makes AI Gains
(Bloomberg) -- Broadcom Inc., one of the world’s biggest chipmakers, said that demand for gear that powers artificial intelligence is helping fuel sales, but not enough to offset a broader post-pandemic slowdown. Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Passes the House, Easing US Default ConcernsWall Street Banks Are Using AI to Rewire the World of FinanceBillionaire Perot Warns of Real Es
ReutersUS judge won't yet approve Deutsche Bank $75 million settlement with Epstein accusers
A U.S. judge on Thursday said it was premature to approve Deutsche Bank AG's $75 million settlement of a lawsuit by women said they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. At a hearing in Manhattan federal court to consider preliminary approval of the settlement, U.S. District Judge Jed Rakoff said he needed more specifics about who qualified as members of the proposed class of Epstein victims. He directed lawyers for Deutsche Bank and Epstein's accusers to submit a revised settlement by June 12.
Yahoo Finance VideoHow to invest in AI through ETFs
Lots of investors want to get in on the AI hype. For some, ETFs may be an option for those who are looking for an alternative way to invest. Todd Rosenbluth, Head of Research at VettaFi tells Yahoo Finance Live about some ETFs that provide exposure to the AI wave.
Yahoo Finance VideoLucid, C3.ai, Retail stocks: Thursday's trending tickers
As the pull back in consumer spending continues to impact retailers, the Yahoo Finance Live team takes a look at shares of Macy's, Dollar General, and Nordstrom. Shifting to the auto industry, EV maker Lucid's stock dropped after announcing a new stock offering. On the AI front, C3.ai shares plunged after the company issued a disappointing outlook.
ReutersJ&J secures dismissal of whistleblower case over misuse of confidential info
A federal appeals court, in a decision unsealed Wednesday, upheld the dismissal of a whistleblower lawsuit against Johnson & Johnson as a sanction for the plaintiffs' misuse of confidential records they obtained through related litigation. The lawsuit, which accused J&J's DePuy Orthopaedics unit of defrauding the federal government by marketing defective hip implants, was dismissed in December 2021. J&J has denied wrongdoing.
AP FinanceBilly Joel to end his record-breaking concert series at Madison Square Garden in 2024
Billy Joel is finally moving out of his monthly perch at Madison Square Garden. The singer-songwriter says he will conclude his residency in July 2024 with his 150th lifetime performance at the venue. The record-breaking residency began in January 2014 with Joel playing one show every month at the Garden for, as he said at the time, “as long as the demand continues.”
Yahoo Finance VideoAI, housing, & layoffs: Biggest themes from Q1 earnings
First quarter earnings are wrapping up. Scott Krisiloff, The Transcript Editor and Avondale Asset Management Founder, joins Yahoo Finance Live to discuss the overarching themes of the Q1 earnings season, including the rise of AI and the impact of housing.
Yahoo Finance VideoDebt ceiling deal: Winners, losers, and chances of Fed pause
The bill to raise the debt ceiling passed through the House and now heads to the Senate for a vote. Yahoo Finance spoke to experts, analysts, and economists to discuss the winners and losers from the debt ceiling debate, as well as the chances of the Federal Reserve taking a pause despite ongoing issues with inflation. Joseph Zeballos-Roig, Domestic Policy & Politics Reporter at Semafor, discussed the winners and losers of the debt ceiling fight. Zeballos-Roig said, "Republicans, Democrats are eager to claim wins for both sides, for both of the respective parties." Former Vermont Governor Howard Dean weighed in on the debt ceiling debate, commenting on President Biden and House Speaker Kevin McCarthy. Dean said, "It's a big win financially for the country, but it's also a big win politically for both McCarthy and Biden ... we haven't seen a win like that for a while." Meanwhile, Maya MacGuineas, President of the Committee for a Responsible Federal Budget, agreed with Dean's comments. MacGuineas added, "This is the first time in over a decade that we've had a budget framework or deal that actually made the fiscal situation better, not worse." With the debt ceiling bill in the rearview, many investors are now looking ahead to June's FOMC Meeting. Stifel Chief Economist Lindsey Piegza discussed the Federal Reserve's willingness to pause. Piegza said, "I think the Fed has indicated a willingness to pause and they still may do so, but I want to be clear, any decision ... will be made in spite of the data. The data, particularly the inflation data, do not support a pause at this point." Video highlights: 00:00:03 - Joseph Zeballos-Roig, Domestic Policy & Politics Reporter at Semafor 00:00:29 - Former Vermont Governor Howard Dean 00:00:41 - Maya MacGuineas, President of the Committee for a Responsible Federal Budget 00:01:12 - Stifel Chief Economist Lindsey Piegza
Yahoo Finance VideoTrillion-dollar companies: How wealthy are their CEOs?
Alphabet, Apple, Microsoft, and Amazon are just part of the elite group of companies that have market caps of $1 trillion or more. Their CEOs are paid handsomely, though some are getting pay cuts. Andy Jassy, CEO of Amazon, saw a huge dip in compensation, going from $212 million in 2021 to $1.3 million in 2022. Tim Cook, CEO of Apple, brought in $84 million in 2022, however, he is expected to see a 40 percent drop in 2023. The Yahoo Finance Live team breaks down the numbers.
ReutersBroadcom forecasts third-quarter revenue above estimates
Broadcom Inc forecast third-quarter revenue above market estimates on Thursday, as it became the latest chip firm to see a demand boost from this year's frenzy in AI spending.
BloombergWall Street Says These Small Shoe Brands Are Recession Proof
(Bloomberg) -- The stocks of small athletic shoe brands are poised to keep gaining, beating out their globally-recognized peers, even as the US faces weaker consumer spending and a potential recession, Wall Street analysts say. Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Passes the House, Easing US Default ConcernsWall Street Banks Are Using AI to Rewire the World of FinanceBillionaire Perot W
BloombergThe Treasury Is Bending Over Backwards to Avoid Breaching the Debt Cap
(Bloomberg) -- The tightening cash situation and dwindling headroom under the US’s statutory borrowing limit is forcing the Treasury to engage in fresh contortions almost daily even as legislation to suspend the debt limit progresses through Congress and market concerns ease.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Passes the House, Easing US Default ConcernsWall Street Banks Are Using AI t
- AP Finance
How major US stock indexes fared Thursday 6/1/2023
Wall Street closed higher on hopes that the Federal Reserve may soon take it easier on its hikes to interest rates, with the S&P 500 gaining 1% Thursday. Altogether, investors saw the data pushing the Fed toward not hiking rates at its next meeting in two weeks. The Nasdaq composite led the market’s gains as Big Tech stocks climbed.
- Reuters
US calls for UN meeting on North Korea's attempted satellite launch
The United States has called for a U.N. Security Council meeting on Friday to discuss North Korea's attempted satellite launch this week, the spokesperson for the U.S. mission to the United Nations said. The launch on Wednesday was an attempt by North Korea to put its first spy satellite into space, but it ended in failure, with the booster and payload plunging into the sea. Washington condemned the launch, saying it used ballistic missile technology in violation of multiple U.N. Security Council resolutions and risked destabilizing the security situation in the region and beyond.
Yahoo FinanceStocks rise as House passes debt deal: Stock market news today
Stocks rose on Thursday after the House passed a bill to extend the U.S. debt limit.