-- Most Asian currencies moved in a flat-to-low range on Thursday, while the dollar firmed as a strong reading on U.S. consumer inflation dashed hopes that the Federal Reserve will cut interest rates by a wide margin.
If you had invested $1,000 with Warren Buffett in 1970, your investment would have grown dramatically due to Berkshire Hathaway’s compounding returns. Since Berkshire has delivered an average annual return of about 20% over more than five decades, your $1,000 investment would likely be worth over $10 million today.s.
According to Odaily, Naoki Tamura, a member of the Bank of Japan's board, has emphasized the necessity of timely and gradual interest rate increases. The current market perspective on the interest rate trajectory is progressive.
The technology sector (XLK) was the clear standout in Wednesday's trading session, where the tech-heavy Nasdaq Composite (^IXIC) surged by over 2.1% and the S&P 500 (^GSPC) climbed 1.07%. Yahoo Finance markets reporter Josh Schafer analyzes tech sector gains following Nvidia (NVDA) CEO Jensen Huang's conference comments about the "intense" semiconductor demand, market reactions to August's Consumer Price Index (CPI), and what fresh data is indicating about the Federal Reserve's interest rate plans next week. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Luke Carberry Mogan.
According to Odaily, several U.S. lawmakers sent a letter to SEC Chairman Gary Gensler on September 11, expressing concerns over potential politically motivated hiring practices within the agency. The joint letter, signed by Judiciary Committee Chairman Jim Jordan (R-Ohio), Financial Services Committee Chairman Patrick McHenry (R-N.C.), and Oversight and Accountability Committee Chairman James Comer (R-Ky.), outlines specific worries regarding political considerations in SEC's recruitment of senior employees.The investigation aims to determine whether the SEC has taken political affiliations into account when hiring senior staff, potentially compromising the agency's impartiality and violating federal law. The lawmakers cited evidence suggesting that under Gensler's leadership, political factors have influenced the hiring of senior personnel. The letter specifically mentions Dr. Haoxiang Zhu, who was appointed as Director of Trading and Markets in November 2021. Reportedly, prior to his appointment, Zhu assured Gensler of his political compatibility in an email dated May 2021, stating, 'I believe I am in the right place politically,' following discussions with Gensler about the role.
The Nasdaq Composite (^IXIC) pops by over 2.1% to end Wednesday's trading session in positive territory after August's Consumer Price Index (CPI) came in-line with inflation estimates. The S&P 500 (^GSPC) followed, rising 1.07%, while the Dow Jones Industrial Average (^DJI) closed the day 0.3% higher. Market Domination Overtime's Julie Hyman recaps market index performances, joined by Alexandra Canal to examine single-day gains in the tech sector (XLK) and tech-heavy Nasdaq 100 (^NDX). For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
In a development that will surprise few, former WeWork CEO Adam Neumann's climate/crypto/carbon-credit startup Flowcarbon appears to be in the process of curling up to die, Forbes reported today. Buyers of the outfit's "Goddess Nature Token," pitched as the first step in putting carbon credits on the blockchain, have reportedly been contacted about receiving refunds over the last month, but they must first sign a confidentiality agreement and release of claims against Flowcarbon. The company told Forbes this was "well known" that it has been offering refunds, citing carbon credit market conditions for the operational delay.
Following the release of the August Consumer Price Index (CPI) report, IG North America CEO JJ Kinahan joins Brad Smith and Seana Smith on the Morning Brief to provide some perspective on retail investors' tech trades ahead of any potential interest rate cuts. "We have seen Nvidia (NVDA) come into some troubles recently, but I think you have to keep that in perspective that the stock is still up over 100% year to date," Kinahan says. "Overall, I think it's really, sort of shortsighted to say that technology will not continue to lead us," Kinahan tells Yahoo Finance. He notes that monetizing artificial intelligence (AI) spending will be "key" to a continued tech rally. Kinahan indicates that Nvidia remains a top name among Tastytrade's retail clients. Alongside Nvidia, he highlights that clients also seem bullish on Ulta Beauty (ULTA) and the United Parcel Service (UPS) while there was broad bearishness around Lululemon (LULU), Qualcomm (QCOM), and Disney (DIS). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Naomi Buchanan.
Trump's odds of winning the election slipped after the debate, which could spell a rough road ahead for crypto
Energy policy was a key debate topic between presidential candidates Vice President Kamala Harris and former President Donald Trump. Tortoise senior portfolio manager and managing director Rob Thummel joins Market Domination to discuss the future of US energy policy. "We do believe in an all-of-the-above approach to really providing energy supply. Energy demand is just going to go up, and it's going to go up every single year... We're really making history here, a little bit in the US, as the US being the largest producer of energy in the world, the largest exporter of energy in the world. This is really significant," Thummel tells Yahoo Finance. He explains that the US has a lot of low-cost, low-carbon energy options, which is a "foundational element of growing economies." Thus, he believes that as US oil helps grow other economies, it's also contributing to domestic growth. "That's partially why you're seeing the potential for AI development here is because the low-cost energy that's in the US, that's partially why we'll have advanced manufacturing come back to the US, is because of the low cost of energy," he adds. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl