Record CFO Turnover Is a Sign of the Times
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More companies are asking whether their CFO is the right fit for the role. Plus, Reddit's Drew Vollero talks about the outlook for advertising and dad jokes.
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4 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures rise as South Korea trade deal, Big Tech earnings boost sentiment
US stock futures rose as Wall Street weighed a new trade deal with South Korea and strong earnings from Meta (META) and Microsoft (MSFT). Futures attached to the Dow Jones Industrial Average (YM=F) inched up 0.3%. Futures attached to the benchmark S&P 500 (ES=F) rose 0.8%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) climbed 1.1%. After the bell on Wednesday, Trump announced the US had struck a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff, according to Trump's post on Truth Social. "South Korea will be completely OPEN TO TRADE with the United States," the president wrote. Trump said that South Korea also agreed to $350 billion in US investments as well as purchases of liquified natural gas and other energy products. Just before the president revealed the new trade deal, earnings results from Meta (META) and Microsoft (MSFT) wowed Wall Street, sending the stocks of both tech giants soaring. Meta impressed investors with an earnings beat as well as stronger-than-expected guidance even as the company ramps up its AI spending spree. Microsoft also issued impressive results, showcasing the company's strength in cloud computing and AI. Stocks were mixed in during the day Wednesday after the Fed held interest rates steady for its fifth-straight meeting, with two Fed governors dissenting. Following the decision, Fed Chair Jerome Powell stressed "no decisions" had been made about a September rate cut, undercutting Trump's claim he had heard a September rate cut was coming. More critical releases for Wall Street land Thursday. In the morning, investors will get another clue as to the possible direction of interest rates with the release of the Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index. Later in the day, Apple (AAPL) and Amazon (AMZN) will report their earnings results. Samsung Electronics chip business fell drastically in Q2 Samsung Electronics ( saw a mammoth drop in profit from the chip-making arm of the electronics giant. Bloomberg reports: Read more here. Samsung Electronics chip business fell drastically in Q2 Samsung Electronics ( saw a mammoth drop in profit from the chip-making arm of the electronics giant. Bloomberg reports: Read more here. Samsung Electronics ( saw a mammoth drop in profit from the chip-making arm of the electronics giant. Bloomberg reports: Read more here.
Yahoo
4 minutes ago
- Yahoo
Trump's Copper Shock Leaves Traders Facing ‘Wasted Efforts'
(Bloomberg) -- The global copper market is reeling from its biggest shock yet in a year of policy surprises, violent price swings and unprecedented trade dislocation. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus We Should All Be Biking Along the Beach US President Donald Trump went ahead with 50% tariffs on imports of copper, but exempted key products including refined metal that are the mainstay of the international supply chain. The unexpected move triggered a record plunge for US prices and will disappoint traders who have pursued fat profits by hurrying metal to America before tariffs kick in. 'This has badly deviated from market expectations,' Li Xuezhi, head of research at Chaos Ternary Futures Co., a unit of a commodities hedge fund in Shanghai. Those betting on higher US prices have 'wasted all their efforts' and global copper flows will return to normal, he said. Copper futures on Comex in New York plunged more than 20% — the most ever — as traders reacted to a move that recalibrates the value of metal in the US versus the rest of the world. With prices on the London Metal Exchange were little changed on Thursday, the premium of US prices over the LME collapsed to about 1%, from more than 30% a week ago. The decision to exclude refined copper from the tariffs will roil global trade of the metal, which plays a crucial role in the world economy thanks to its widespread use in electrical wiring. The massive volumes that have been shipped to the US in recent months created a huge stockpile that could potentially be re-exported. 'There have been a lot participants shorting the Comex-LME spread,' said Zhou Xiaou, an analyst with Zijin Tianfeng Futures Co. There were already expectations that the spread would narrow because US prices had reached a level to incentivize investment in copper mining, she said. When Trump first flagged the likelihood of tariffs early this year, US prices soared relative to the rest of the world and major traders scrambled to get metal to American ports, in a trade that some industry veterans said was the biggest of their lifetimes. Early in July, Trump then said the tariff would be a higher-than-expected 50%, ratcheting up the potential rewards. That spurred a last-minute scramble with at least one copper-laden ship rushing for Hawaii before the end of this month. The president's announcement — less than 48 hours before tariffs were due to start — illustrates his white-knuckle approach to trade policy, but also the challenges he faces in revamping America's metals industry. Some key players in the US copper sector had argued that the country simply didn't have sufficient capacity to replace all its imports so quickly. The 50% tariff announced on Wednesday will apply to semi-finished products such as pipes, wires, rods, sheets and tubes, and to copper-intensive goods like pipe fittings, cables, connectors and electrical components, according to the White House statement. Less-processed goods — including ore, concentrates, mattes, cathodes and anodes — are not subject to the tariffs. Still, the prospect of import tariffs on refined copper may not have entirely disappeared. A proclamation published by the White House on Wednesday stated that the Department of Commerce had recommended a delayed imposition of import tariffs on refined metal, with the rate set at 15% starting in 2027, rising to 30% in 2028. Trump directed the Secretary of Commerce to provide an update on US copper markets by the end of June 2026, so that the president could determine whether such 'a phased universal import duty on refined copper' would be warranted. Copper was down 0.3% on the LME to $9,670 a ton as of 10:41 a.m. Shanghai time, while Comex copper was 20% lower at $4.450 a pound. --With assistance from Joe Deaux, Andrew Janes, Winnie Zhu and Alfred Cang. Russia Builds a New Web Around Kremlin's Handpicked Super App Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
4 minutes ago
- Yahoo
Kimberly-Clark (KMB) Q2 Earnings Report Preview: What To Look For
Household products company Kimberly-Clark (NYSE:KMB) will be reporting earnings this Friday before market hours. Here's what to expect. Kimberly-Clark missed analysts' revenue expectations by 1% last quarter, reporting revenues of $4.84 billion, down 6% year on year. It was a slower quarter for the company, with a miss of analysts' organic revenue estimates and adjusted operating income in line with analysts' estimates. Is Kimberly-Clark a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Kimberly-Clark's revenue to decline 7.3% year on year to $4.66 billion, a further deceleration from the 2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.67 per share. Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 4 downward revisions over the last 30 days (we track 9 analysts). Kimberly-Clark has missed Wall Street's revenue estimates five times over the last two years. Looking at Kimberly-Clark's peers in the household products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Procter & Gamble delivered year-on-year revenue growth of 1.7%, meeting analysts' expectations, and WD-40 reported revenues up 1.2%, falling short of estimates by 2.3%. Procter & Gamble traded down 2.8% following the results while WD-40's stock price was unchanged. Read our full analysis of Procter & Gamble's results here and WD-40's results here. Investors in the household products segment have had steady hands going into earnings, with share prices flat over the last month. Kimberly-Clark is down 5.5% during the same time and is heading into earnings with an average analyst price target of $141.33 (compared to the current share price of $124.33). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
