“Money Electric: The Bitcoin Mystery,” a new documentary from HBO (WBD) debuting Tuesday, promises to unmask one of the richest and most mysterious figures on the planet: the creator of Bitcoin.
Today on Yahoo Finance's Good Buy or Goodbye, Host Julie Hyman is joined by Mizuho Americas managing director and senior analyst of utilities Anthony Crowdell to discuss the best and worst stock picks for investors in the utilities sector (XLU). Crowdell recommends Pinnacle West Capital (PNW) as a buy. He emphasizes that state regulation is crucial for utilities, and Arizona, where Pinnacle West operates, is seeing improved regulatory conditions. Crowdell believes a potential policy statement from Arizona could give the company "continued momentum" and help it earn better returns. He also highlights the company's attractive load growth, noting that while energy efficiency has generally slowed consumption across the sector, post-pandemic relocation trends and data center growth are boosting demand in certain areas — with Pinnacle West Capital benefiting from this trend. Finally, he cites an attractive valuation with a 3% premium. On the other hand, Crowdell advises investors to avoid FirstEnergy (FE). The Ohio-based company faces regulatory uncertainties following a bribery scandal involving previous management. "We don't know how state regulation is gonna work out here," Crowdell cautions. Despite management changes, he notes ongoing challenges, particularly potential impacts on the company's balance sheet. This post was written by Angel Smith
As the third quarter earnings season kicks off, Keith Buchanan, GLOBALT Investments senior portfolio manager, joins Wealth! to break down what investors can expect. "The expectations for earnings have started to accelerate from mid-single digits to next year to mid-double digits. And coming into this fourth quarter is a real transition quarter from that lower healthy growth to robust growth. And a lot of that comes from not only being, of course, healthy growth from artificial intelligence... but also a widening of earnings growth and revenue growth that you can see beyond the traditional growth sectors like technology (XLK), consumer services (XLP). That's actually moving out some to industrials (XLI), energy (XLE). And that's more breadth to the earnings growth, which gives it a lot more stability over the near and longer term," Buchanan tells Yahoo Finance. As Wall Street heads into the year-end, Buchanan is focused on AI plays and value stocks. He highlights areas like financials (XLF), industrials (XLI), and consumer discretionary (XLY) that are poised for growth heading into 2025, explaining, "Those valuations are miles away from where they traditionally trade on a relative to the broader S&P 500 (^GSPC)." Volatility is expected in the months ahead amid rising Middle East tensions and the 2024 presidential election. Buchanan encourages investors to take into consideration geopolitical tensions when assessing their portfolios. However, he advises against making any moves tied to the election. "We want to take all of the incoming information that we have that could affect the consensus of where we're going economically, monetarily over the next two years. And take that into consideration when we're thinking about the long-term approach to our clients' assets," he concludes. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl
US stocks (^DJI, ^IXIC, ^GSPC) are largely flat in Monday's morning trading despite rallying on September's jobs report last Friday. BTIG managing director and chief market technician Jonathan Krinsky sits down with the Catalysts team to discuss the momentum trade behind market indexes and select sectors. "Even in election years when October finishes green, there is almost always some sort of Intra month drawdown. And we did have a little bit early last week," Krinsky says. "But, I think, we should expect a bit more than what we saw last week. So that's still our base case, but the fact that the bulls did hold the line, that 5,670 level [for the S&P 500] was the prior highs back this summer. We held above that..." Krinsky also weighs in on the trajectory for the tech sector and small-cap stocks. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.
Reports earlier today by hospitality industry union Unite Hospitality said that staff were shut out of sites with the locks changed.
The crypto market is closely tracking the stock market’s movements, reflecting broader economic trends. After a surge on Friday, spurred by a strong jobs report, cryptocurrencies saw a downturn on Monday morning as escalating tensions in the Middle East weighed on investor sentiment. However, Nvidia’s (NVDA) AI summit this week has somewhat provided a boost to certain AI-driven tokens, offering investors a glimpse of upward momentum in a market otherwise under pressure.
Big bets in the bond markets are telling investors something important.
On today's episode of Wealth!, Host Brad Smith breaks down some of the top tips for everything from positioning your portfolio to planning your holiday shopping. As the third quarter earnings season kicks off, Keith Buchanan, GLOBALT Investments senior portfolio manager, breaks down what investors can expect. "The expectations for earnings have started to accelerate from mid-single digits to next year to mid-double digits. And coming into this fourth quarter is a real transition quarter from that lower healthy growth to robust growth," he tells Yahoo Finance. Thus, he expects areas like financials (XLF), industrials (XLI), and consumer discretionary (XLY) to be poised for growth heading into 2025, explaining, "Those valuations are miles away from where they traditionally trade on a relative to the broader S&P 500 (^GSPC)." The AI race is just getting started, and Ark Invest CEO Cathie Wood is betting big. Asking for a Trend Host Josh Lipton dives into Cathie Wood's OpenAI investment and why she's so bullish on the company. Black, Hispanic, and Latina women are newer to investing and focused on building generational wealth, a recent J.P. Morgan Wealth Management report found. JPMorgan Wealth Management head of communications Verónica Navarro Espinosa explains that education, accessibility, and confidence are helping break down barriers. “Investing is overwhelming. There is so much information everywhere that is hard to decide where you're going to go. But we're starting to see that there is a path forward. We're seeing people are starting to be more comfortable. Also, the tools to invest are becoming more accessible," she says. Despite cooling inflation, many American household budgets remain under pressure — particularly those of retirees. However, some relief may be on the way as Social Security's cost of living adjustment (COLA) is expected to increase benefits by 2.5%. Yahoo Finance Senior Columnist Kerry Hannon breaks down the details, examining how this benefit adjustment is calculated, its impact on Social Security beneficiaries, and the broader challenges Americans face when saving for retirement. A Missouri federal judge placed an injunction on President Biden's SAVE student loan forgiveness plan, which features a clause to eliminate 100% of remaining interest for loan borrowers. As the plan sits in legal purgatory, Edvisors director of corporate communications Elaine Rubin breaks down the Biden administration's biggest hurdles in pushing forward its student loan forgiveness agenda. "So in this election year, we know that the Kamala [Harris] administration, they are aiming to continue some of the plans that the Biden administration has already started. So defending the SAVE Plan and going towards that broad forgiveness," Rubin explains. The fall travel season is officially here, and over half of travelers plan to manage the cost of their trips by cutting back on other expenses, according to Hopper. Hopper lead economist Hayley Berg notes that travelers should book their travel by October 14, when they can get the best airfare prices on their holiday travel. She adds that prices for holiday travel increase after Halloween. She also encourages travelers to be flexible with their travel dates, explaining that you can save about $200 per domestic ticket just by being flexible around your Thanksgiving and Christmas travel dates. While these holidays are the cheapest travel days, she explains that Monday or Wednesday before Thanksgiving, and Monday before Christmas Eve are the other cheapest times to fly. Consumers are shopping early for the holiday season, turning to retailers offering discounts, a recent CNET survey shows. Dashia Milden, CNET money editor, explains, "The majority of shoppers right now are planning on leaning on those early holiday sales. When we start thinking about [Amazon’s (AMZN)] Prime Day sales literally launching tomorrow. Target (TGT), Walmart (WMT), Best Buy (BBY), you name it." On top of looking for deals, shoppers are also cutting down their holiday spending. She tells Yahoo Finance, “The majority of shoppers are shopping early to try to take advantage of some of those savings, and they're still making sacrifices. A percentage are spending less on non-essentials, such as travel and dining. People are setting smaller budgets, even and even choosing to go ahead and get fewer gifts. So when we start looking at that, it's very clear that the holidays are important and that they're willing to make some sacrifices in the meantime.” For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl
Bond yields were climbing early Monday as traders pulled back when it came to how much they expect the Federal Reserve to cut rates, dragging on stocks. Traders are now pricing in a 12% chance of no rate cut at all at the Fed’s November monetary-policy meeting, according to the CME FedWatch tool.
According to BlockBeats, a report from Matrixport reveals that global cryptocurrency adoption is approaching a significant milestone, with 7.51% of the world's population currently using cryptocurrencies. The report anticipates that by 2025, this figure will exceed 8%, indicating a potential shift of cryptocurrencies from a niche market to the mainstream financial system.The report highlights that the increasing involvement of institutions and economic uncertainty are key factors driving the steady growth in adoption.