Opendoor Soars as Traders Flock to New Meme Stock
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Yahoo
an hour ago
- Yahoo
Bonds Fall on Jobs Strength as Stocks Grind Higher: Markets Wrap
(Bloomberg) -- Treasuries fell as jobless claims hit the lowest since April, underscoring labor-market strength that's keeping the Federal Reserve on hold. Stocks hovered near record highs amid a deluge of corporate earnings. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Can This Bridge Ease the Troubled US-Canadian Relationship? Bonds dropped for a second day, with 10-year yields rising two basis points to 4.40%. Traders slightly pared bets on Fed cuts, projecting less than two reductions this year. The S&P 500 edged higher, with Alphabet Inc. up and Tesla Inc. down after their results. As European policymakers tempered expectations of policy easing, German bunds slid. The dollar and the euro wavered. Subscribe to the Stock Movers Podcast on Apple, Spotify and other Podcast Platforms. Read: 10-Year TIPS Auction Draws 1.985%, Near WI Yield at Bid Deadline Applications for US unemployment benefits fell for a sixth straight week - the longest stretch of declines since 2022. The characterization of the labor market will be a key feature of next week's Fed meeting. To Bret Kenwell at eToro, while the labor market is not firing on all cylinders, it's not showing signs of distress either. If next week's jobs data give another reassuring nod to the labor market, he says investors may breathe a further sigh of relief. 'There are still few signs of major cracks in the labor market,' said Chris Larkin at E*Trade from Morgan Stanley. 'And if that picture remains intact, the Fed has one less reason to cut interest rates.' President Donald Trump will visit the Fed Thursday to tour the construction site he's criticized for cost overruns amid his escalating attacks on Fed Chair Jerome Powell for not cutting rates. The S&P 500's record-setting spree may be stoking concerns about inflated share prices and a revival of meme-stock froth, but JPMorgan Chase & Co.'s trading desk isn't concerned. Rather, it expects the furious rally in US equities to keep going. 'While bullishness is not yet consensus, client conversations reveal that even those that skewed bearish are throwing in the towel,' the bank's head of global market intelligence Andrew Tyler said Thursday in a note ahead of the market open. Trading desks at firms including Goldman Sachs Group Inc. and Citadel Securities are telling clients to buy cheap hedges against potential losses in US stocks as a slew of risks loom over the market's record advance. US margin debt, a measure showing how much investors are borrowing to buy stocks on the New York Stock Exchange, is starting to run too hot — a potentially concerning sign for the credit market, according to credit strategists at Deutsche Bank AG. The market euphoria may continue if there are unexpected tariff reductions or a more dovish stance by the Fed than investors anticipate, the strategists said. US stocks face near-term risk as the market is too complacent about tariffs and the related backlash, according to BNP Paribas Asset Management strategist Chi Lo. On the trade front, Trump suggested he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising. While some investors are concerned about 'frothiness,' Craig Johnson at Piper Sandler says that, from a technical point of view, that this is not the case when looking 'down-cap' from the heavy-weights in the S&P 500 and Nasdaq indices. 'We believe that this bull market is broadening out in terms of participation,' he said. In a sign of how breadth remains, the NYSE advance-decline line, a popular indicator that tracks the number of securities rising minus the number falling on the exchange each day, hit fresh highs. Corporate Highlights: Elon Musk warned of difficult times ahead for Tesla Inc. following one of the carmaker's worst stretches since it first started producing electric sedans over a dozen years ago. Alphabet Inc. said demand for artificial intelligence products boosted quarterly sales, and now requires an extreme increase in capital spending — heightening pressure on the company to justify the cost of keeping up in the AI race. International Business Machines Corp. reported weaker-than-expected sales in its closely watched software segment, disappointing investors who have grown increasingly optimistic about the business. Microsoft Corp. said a Chinese hacking group is exploiting security vulnerabilities in the company's SharePoint servers to deploy ransomware, following a cyberattack discovered last week that has affected hundreds of entities around the world. UnitedHealth Group Inc. is responding to criminal and civil requests from the US Department of Justice about its Medicare practices, the company said, confirming reports of probes that have added to mounting challenges for the largest US health insurer. Union Pacific Corp., North America's largest railroad, is in advanced discussions with Norfolk Southern Corp. about a potential tie-up in what would be the industry's largest deal ever. LVMH sales fell as shoppers reined in purchases of costly Louis Vuitton bags and Dior jackets, a sign the luxury titan remains stuck in its post-pandemic slump. American Airlines Group Inc. scaled back its earnings outlook amid deep fare discounts offered to woo reluctant travelers back on flights during a slump in consumer demand. Southwest Airlines Co. expects economic turmoil to erase as much as $1 billion of its annual pre-tax profit this year, prompting the US airline to offer shareholders a much-reduced outlook for 2025. Union Pacific Corp., North America's largest railroad, is in advanced discussions with Norfolk Southern Corp. about a potential tie-up in what would be the industry's largest deal ever. The Food and Drug Administration won't sign off on Sarepta Therapeutics Inc. bringing its controversial gene therapy back to the market until the company can persuade US regulators that it won't cause more deaths, according to an official familiar with the situation. Dow Inc. slumped after the chemical company reported its first quarterly loss in five years as trade and tariff uncertainties weighed on volumes. T-Mobile US Inc., the nation's second-largest wireless provider, reported more new subscribers than analysts were expecting in the second quarter, overcoming a sluggish start to the year. Chipotle Mexican Grill Inc. cut its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven't been enough to offset a traffic slump that the company attributed to economic anxiety. Blackstone Inc. reported a 25% jump in distributable earnings for the second quarter, buoyed by profits from its retail and evergreen funds. ServiceNow Inc. gave a strong outlook for revenue growth in the third quarter and touted customer adoption of its artificial intelligence software tools. Roche Holding AG is weighing direct-to-patient drug sales in the US, bypassing the middleman for its pricey medicines for multiple sclerosis, eye disease and cancer. Some of the main moves in markets: Stocks The S&P 500 rose 0.2% as of 1:02 p.m. New York time The Nasdaq 100 rose 0.3% The Dow Jones Industrial Average fell 0.5% The MSCI World Index rose 0.3% Bloomberg Magnificent 7 Total Return Index fell 0.3% The Russell 2000 Index fell 1.1% Alphabet rose 0.7% Tesla fell 9.1% Currencies The Bloomberg Dollar Spot Index rose 0.2% The euro was little changed at $1.1762 The British pound fell 0.5% to $1.3511 The Japanese yen fell 0.2% to 146.87 per dollar Cryptocurrencies Bitcoin rose 0.5% to $118,582.31 Ether rose 3.4% to $3,691.61 Bonds The yield on 10-year Treasuries advanced two basis points to 4.40% Germany's 10-year yield advanced six basis points to 2.70% Britain's 10-year yield declined one basis point to 4.62% The yield on 2-year Treasuries advanced four basis points to 3.92% The yield on 30-year Treasuries was little changed at 4.94% Commodities West Texas Intermediate crude rose 0.4% to $65.48 a barrel Spot gold fell 0.6% to $3,366.73 an ounce Burning Man Is Burning Through Cash Elon Musk's Empire Is Creaking Under the Strain of Elon Musk It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan A Rebel Army Is Building a Rare-Earth Empire on China's Border How Hims Became the King of Knockoff Weight-Loss Drugs ©2025 Bloomberg L.P. 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Digital Trends
an hour ago
- Digital Trends
Sony makes one of the best OLED TVs, this deal makes it $900 more affordable
Every day we find incredible TV deals, so there's never really a point in buying a TV at the regular price. That is, unless you want one of the best TVs all around, which have more of a reason to not go on sale frequently. They already get lots of attention and have the chops to justify high prices. However, from time to time we do find a great deal on one of our favored TVs. This time around we're see a $900 discount on the 65-inch Sony Bravia 8 OLED, one of our picks for the best OLED TVs. Getting the TV now, which you can do simply by tapping the button below, will only cost you $1,900 instead of the usual $2,800. Read on to learn why the TV is so great, as well as to see the special reason why it's included in our list of OLED TVs. Why you should buy the Sony Bravia 8 OLED The Sony Bravia 8 OLED is a brilliant TV for your living room or gathering area. It's a weird thing to say, but a lot of TVs have a sort of 'hermit' personality and are really best enjoyed with a small group in a dark room. Not the Sony Bravia 8 OLED, with its wide viewing angle and ability to stand up to ambient lighting. This is a TV to grab the crew around and watch some ball or have in your living room to give you some company while you watch the kids. It's a TV to enhance your life with, but it doesn't have to So, why did this TV make it on our OLED shortlist? It happens to be the best Sony OLED for the price. And, of course, by this we mean its standard price. The quality is simply there; it has rich colors and black levels that make things pop, whether you're in the living room or not. So, why not grab it while it is $900 cheaper and you can get it for $1,900 instead of the usual $2,800.
Gizmodo
an hour ago
- Gizmodo
Nebula's Netflix Licensed Outdoor Projector Hits Lowest Price, Flying Off the Shelves
If you're in the North East, that month-long wave of humidity seems to have finally broken. It's comfortably to be outside again. So why not get back the lost weeks of summer outdoors by hosting movie night in your backyard? Get yourself set up with an outdoor projector. Amazon has the Nebula Capsule 3, an outdoor projector officially licensed by Netflix, on sale for a solid 26% off. The projector is normally priced at $530, but after the reduction, you only have to pay $390. That works out to a savings of $140. That's not all though. Click the 'Redeem' button on the product page to receive an additional 15% off. This projector is designed for portability and outdoor use. It runs off a battery that will last you for two and a half hours of watch time. That should be enough to cover the length of most movies. Though if you're watching some long epic like Lawrence of Arabia, you can always plug it into a portable power bank to score some extra hours of use. A power bank is not included, you'll have to find one separately. See at Amazon You can also use the projector as a Bluetooth speaker. When doing so, you can enjoy 8W Dolby Audio and get a whole 8 to 10 hours of listening time on a single charge. Back to movie watching, you can stretch the projection to a massive image of 120 inches across. You'll capture the feeling of the cinema right in your own backyard with a screen that big. It projects with 200 lumens of brightness in gorgeous 1080p. Set up could not be simpler. The Nebula Capsule 3 projector uses a intelligent environment adaptive technology that can automatically adjust screen fit, keystone correction, autofocus, and obstacle avoidance in just a matter of a few seconds. Out of the box, the Nebula Capsule 3 outdoor projector supports a ton of your favorite apps. Netflix comes pre-installed and you can also watch content through Google TV, YouTube, and more. The stand is adjustable up to 180 degrees so you can position the projector at the best angle that fits your particular viewing area. The projector is nearly pocket-sized, making it easy to take with you to a friend's house or a weekend getaway and make your favorite movie or show part of the trip. For a limited time, you can pick up the Nebula Capsule 3 outdoor projector for a reduced price of just $390. Normally, you' find this projector selling for $530, so you'll save a whole $140. But again, that's not all. Click the 'Redeem' button on the product page to receive an additional 15% off. See at Amazon
