Oil Holds Decline With Trade Talks, Russia Energy Curbs in Focus
Brent crude held near $69 a barrel after falling 1.5% last week, while West Texas Intermediate was above $67. EU envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with US President Donald Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline.
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23 minutes ago
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Stock market today: Dow, S&P 500, Nasdaq trade mixed as Wall Street weighs Google, Tesla earnings
US stocks traded mixed on Thursday, as hopes for a US-EU trade deal kept fresh records in sight and Wall Street assessed earnings from tech giants Alphabet (GOOG) and Tesla (TSLA). The Dow Jones Industrial Average (^DJI) dropped 0.3%, paring earlier losses amid a post-earnings slide in IBM (IBM) shares, after the blue-chip index ended Wednesday just shy of its first record close this year. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) climbed 0.3% after reaching all-time closing highs. Alphabet beat Wall Street's second quarter earnings expectations and doubled down on its AI spending spree. The Google parent's shares rose alongside other AI-linked stocks such as Nvidia (NVDA), helping buoy the tech-focused gauges. Read more: Full earnings coverage in our live blog But fellow "Magnificent Seven" stalwart Tesla's stock sank after an earnings miss, a continued slump in European sales, and a warning from CEO Elon Musk that the EV maker faced "rough quarters" as President Trump's budget bill kills off tax credits. Trade deal hopes continued to run high after the US-Japan pact helped fuel more records for the S&P 500 and Nasdaq Composite on Wednesday. The EU and US are closing in on an agreement that would impose a 15% tariff for most imports from Europe, instead of the 30% threatened, media reports said. Read more: The latest on Trump's tariffs That rate is emerging as a potential new baseline for the "reciprocal" tariffs set to kick in on Aug. 1, going by Trump's comments late Wednesday. Previously, the president had imposed a 10% baseline rate on countries as part of his sweeping April tariffs. Meanwhile, Trump and the White House have taken their battle over interest rates with Fed Chair Jerome Powell to a new level. In an unusual presidential move, the president is slated to visit the Federal Reserve's headquarters at 4:00 p.m. ET today following weeks of mounting criticism over its $2.5 billion renovation. It sounds like Trump now has a new minimum tariff rate: 15% Yahoo Finance's Ben Werschkul reports: Read more here. Stock watch: TKO Group + Netflix on Hulk Hogan news Reports have surfaced this afternoon that iconic wrestler Hulk Hogan has died at the age of 71. TMZ and The NY Post both reported the news. I would keep a close eye on TKO Group Holdings (TKO) on this one. The company is the holding company for WWE and UFC. Hogan, of course, is the most recognizable wrestler ever, bar none. I am curious about how the company honors Hogan in the months ahead, and the details could be shared on the company's Aug. 6 earnings call. I would also keep an eye on Netflix (NFLX) as WWE is exclusively streamed on there now. I suspect the upcoming Monday Night Raw episode may get more eyeballs than norma; following this news. Intel to report Q2 earnings as Wall Street looks for signs of turnaround Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant, Yahoo Finance's Dan Howley reports. Howley writes: Read more about Intel's upcoming earnings report here. Wall Street bullish on Alphabet as Search growth stays steady amid AI disruption fears Wall Street analysts were bullish on Alphabet stock following the Google parent's earnings, as Search revenue continued to climb despite fears of AI displacing the dominant search engine. "Another stable qtr for Search results increases our confidence in the AI transition and should ease concerns on a potential revenue reset," Bank of America analyst Justin Post wrote in a note. Post raised his price outlook on Google shares to $217 from $210. Post and other analysts noted that AI Overviews helped drive 10% more Search queries for the types of searches that the AI is used for. The Overviews has 2 billion monthly users, and the Gemini app has hit 450 million monthly active users. RBC Capital analyst Brad Erickson raised his price target on Google shares to $220 from $200, saying, "We still believe that GOOGL's AI competitors along with its own AI search tools are driving traffic headwinds across the internet, and yet, it is still finding a way to distribute enough intentful volume to grow the business plenty fast." Still, Alphabet has fallen short of giving hard dollar figures for its AI business while focusing on how the technology is driving growth in its existing businesses. Notably, analysts didn't seem discouraged by Alphabet raising its capital expenditure guidance for the year to $85 billion from $75 billion, driven by spending in infrastructure such as data centers and server equipment to power AI. Erickson said the company's "AI investment decisions are being made with clear ROI signals in front of it." Fed gets new legal headache with lawsuit seeking to make FOMC rate meetings public The Federal Reserve got a new legal headache Thursday when a money manager sued Chair Jerome Powell and other central bank policymakers in a Washington, D.C., federal court, arguing it is violating a 1976 federal law by keeping its monetary policy meetings behind closed doors, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. UnitedHealth stock drops after company confirms DOJ investigation into Medicare billing practices UnitedHealth (UNH) stock fell as much as 2% early Thursday after the insurance giant disclosed in a regulatory filing Thursday morning that it is facing an investigation from the Department of Justice into its Medicare billing practices, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Stocks trade mixed at the open US stocks traded mixed on Thursday, as hopes lifted for a US-EU trade deal and Wall Street digested earnings results from tech giants Alphabet (GOOGL, GOOG) and Tesla (TSLA) as well as fresh labor market data. The Dow Jones Industrial Average (^DJI) dropped 0.6%, after the blue-chip index ended Wednesday just shy of tis first record close this year. The tech-heavy Nasdaq Composite (^IXIC) rose roughly 0.3%, while the S&P 500 (^GSPC) climbed more than 0.1%. IBM stock slides after software sales disappoint International Business Machines stock (IBM) slid 6% ahead of the opening bell after second quarter sales in its core software segment were lower than expected and the company did not provide a forecast for the third quarter. IBM's software segment, which has traditionally been a bright spot, reported sales of $7.39 billion, missing analysts' average estimate of $7.41 billion, per Reuters. After a 30% run-up in the stock year to date, the company had little room to miss estimates. Still, IBM's adjusted earnings per share of $2.80 topped the Street's expectations, and its revenue of $16.98 billion for the quarter beat estimates of $16.59 billion. Companies' spending on artificial intelligence infrastructure spurred demand for IBM's latest AI-specialized mainframes. The infrastructure segment, which houses its mainframe, reported revenue of $4.14 billion, beating estimates of $3.81 billion. Read more here from Reuters. Jobless claims hit lowest level in three months Amid a quiet week of economic data, investors were greeted with yet another sign that the US labor market isn't flashing glaring alarm signals. Data from the Department of Labor released Thursday morning showed 217,000 initial jobless claims were filed in the week ending July 19, down 4,000 from the week prior and the lowest number of weekly filings since the week of April 12. After surging in May, weekly filings have consistently declined throughout the start of the summer. Meanwhile, 1.955 million continuing claims were filed, up about 4,000 from the week prior and hovering near the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla stock slides as Musk warns of a 'few rough quarters' Tesla's (TSLA) stock is sinking in premarket as a warning from CEO Elon Musk rings in investors' ears. Shares fell over 6% after Tesla posted an earnings miss, setting the stage for a tough stretch ahead. The automaker faces the end of EV incentives brought in by President Trump, alongside potential delays to its autonomous vehicle rollout. 'We probably could have a few rough quarters,' Musk said, per Bloomberg. Meanwhile, a report Thursday showed Tesla's sales in Europe fell in June for the sixth straight month, falling 23%. Tesla's finance chief flagged other challenges on a conference call with analysts. Yahoo Finance's Pras Subramanian reports: Read more here. The AI trade hasn't changed for Big Tech — and that's working for them Alphabet (GOOG, GOOGL) and Tesla (TSLA) kicked off Big Tech earnings on Wednesday afternoon, and Yahoo Finance's Hamza Shaban recaps what investors learned in today's Morning Brief: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending July 19) Chicago Fed national activity index (June); S&P Global US manufacturing PMI (July preliminary); S&P Global US services PMI (July preliminary); S&P global US composite PMI (July preliminary); New home sales (June) Earnings: American Airlines (AAL), Blackstone (BX), Deckers (DECK), Dow (DOW), Honeywell (HON), Intel (INTC), Keurig Dr Pepper (KDP), Nasdaq (NDAQ), Nokia (NOK), Southwest Airlines (LUV), Union Pacific (UNP) Here are some of the biggest stories you may have missed overnight and early this morning: Trump signals baseline hike in 'reciprocal' tariffs to 15% The AI trade hasn't changed for Big Tech — and that's working for them Trump to visit Fed HQ for refurb check as he battles with Powell Keurig Dr Pepper beats estimates but coffee inflation lurks Google beats on earnings, doubles down on AI spending spree Tesla stock sinks after earnings miss, 'rough' patch warning Chipotle plunges after company reports 2nd straight sales decline Goldman's trading desk touts cheap hedges against S&P 500 slide Meme stock rally has investors feeling 'invulnerable' Meme stock rally has investors feeling 'invulnerable' Retail investors with an appetite for risk are piling into speculative trades and creating a new roster of meme-stocks, helping power a broader rally in markets, Yahoo Finance's Jake Conley reports: Read more here. STMicro stock falls by most in a year after surprise loss STMicroelectronics (STM) delivered a double whammy in its earnings on Thursday: A surprise Q2 loss from restructuring charges and a disappointing outlook for Q3. US-listed stock in the European chipmaker slid over 10% in premarket trading, while its shares in Paris ( fell to their lowest in a year at one point, down 13%. Bloomberg reports: Read more here. Trending tickers: Chipotle Mexican Grill, T-mobile and Wolfspeed Here are some top stocks trending on Yahoo Finance in premarket trading: Chipotle Mexican Grill (CMG) stock fell 10% before the bell on Thursday after reporting another quarter of negative sales growth. The fast-casual restaurant chain posted results on Wednesday as it navigates an uncertain consumer environment and as its new leadership deals with the most challenging backdrop in years. T-mobile (TMUS) stock rose 5% premarket on Thursday after beating analyst estimates on Wednesday. The telecom group's CEO Mike Sievert told Yahoo Finance's executive editor Brian Sozzi that the company's steady value messaging is helping it to gain market share. Wolfspeed (WOLF) shares rose 18% before the bell. The chipmaker's stock reacted positively this week to the new US-Japan trade deal and has been up 13% over the last five days. The US-Japan trade deal boosts optimism for Wolfspeed as it supports Renesas' EV chip production, raising hopes for more deals with automakers like Jaguar Land Rover. American Eagle stock soars after-hours in latest meme push Stock in retail giant American Eagle Outfitters, Inc. (AEO) flew up over 25% in after-hours trades overnight Thursday. The individual share price went from $10.82 at close to a peak of $13.80 as of 10:57 p.m. EDT. The jump in value can be attributed to the current meme stock phase that has pushed up value in companies such as Opendoor (OPEN), Krispy Kreme (DNUT), Kohl's (KSS), and GoPro (GPRO) over the past few days. Much of meme-stock mania can be attributed to retail investors making moves in stocks with 'undervalued fundamentals', and the rallying of groups around individual personalities. With this in mind, the release of an ad campaign starring actress Sydney Sweeney has been leapt upon by members of online communities on Reddit and X. Though seen in other companies receiving the benefits of online attention, with Opendoor receiving a 140% increase in retail revenue in the past two weeks, it is unclear whether the increase in stock value will see a corresponding increase in revenue for American Eagle. Oil prices rise on trade deal positivity, stockpile reduction Crude oil prices climbed late night Thursday, fueled by hopes for progress in US trade talks and a surprise plunge in American oil stockpiles, easing concerns about global economic slowdown. Reuters reports: Read more here. It sounds like Trump now has a new minimum tariff rate: 15% Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Stock watch: TKO Group + Netflix on Hulk Hogan news Reports have surfaced this afternoon that iconic wrestler Hulk Hogan has died at the age of 71. TMZ and The NY Post both reported the news. I would keep a close eye on TKO Group Holdings (TKO) on this one. The company is the holding company for WWE and UFC. Hogan, of course, is the most recognizable wrestler ever, bar none. I am curious about how the company honors Hogan in the months ahead, and the details could be shared on the company's Aug. 6 earnings call. I would also keep an eye on Netflix (NFLX) as WWE is exclusively streamed on there now. I suspect the upcoming Monday Night Raw episode may get more eyeballs than norma; following this news. Reports have surfaced this afternoon that iconic wrestler Hulk Hogan has died at the age of 71. TMZ and The NY Post both reported the news. I would keep a close eye on TKO Group Holdings (TKO) on this one. The company is the holding company for WWE and UFC. Hogan, of course, is the most recognizable wrestler ever, bar none. I am curious about how the company honors Hogan in the months ahead, and the details could be shared on the company's Aug. 6 earnings call. I would also keep an eye on Netflix (NFLX) as WWE is exclusively streamed on there now. I suspect the upcoming Monday Night Raw episode may get more eyeballs than norma; following this news. Intel to report Q2 earnings as Wall Street looks for signs of turnaround Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant, Yahoo Finance's Dan Howley reports. Howley writes: Read more about Intel's upcoming earnings report here. Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant, Yahoo Finance's Dan Howley reports. Howley writes: Read more about Intel's upcoming earnings report here. Wall Street bullish on Alphabet as Search growth stays steady amid AI disruption fears Wall Street analysts were bullish on Alphabet stock following the Google parent's earnings, as Search revenue continued to climb despite fears of AI displacing the dominant search engine. "Another stable qtr for Search results increases our confidence in the AI transition and should ease concerns on a potential revenue reset," Bank of America analyst Justin Post wrote in a note. Post raised his price outlook on Google shares to $217 from $210. Post and other analysts noted that AI Overviews helped drive 10% more Search queries for the types of searches that the AI is used for. The Overviews has 2 billion monthly users, and the Gemini app has hit 450 million monthly active users. RBC Capital analyst Brad Erickson raised his price target on Google shares to $220 from $200, saying, "We still believe that GOOGL's AI competitors along with its own AI search tools are driving traffic headwinds across the internet, and yet, it is still finding a way to distribute enough intentful volume to grow the business plenty fast." Still, Alphabet has fallen short of giving hard dollar figures for its AI business while focusing on how the technology is driving growth in its existing businesses. Notably, analysts didn't seem discouraged by Alphabet raising its capital expenditure guidance for the year to $85 billion from $75 billion, driven by spending in infrastructure such as data centers and server equipment to power AI. Erickson said the company's "AI investment decisions are being made with clear ROI signals in front of it." Wall Street analysts were bullish on Alphabet stock following the Google parent's earnings, as Search revenue continued to climb despite fears of AI displacing the dominant search engine. "Another stable qtr for Search results increases our confidence in the AI transition and should ease concerns on a potential revenue reset," Bank of America analyst Justin Post wrote in a note. Post raised his price outlook on Google shares to $217 from $210. Post and other analysts noted that AI Overviews helped drive 10% more Search queries for the types of searches that the AI is used for. The Overviews has 2 billion monthly users, and the Gemini app has hit 450 million monthly active users. RBC Capital analyst Brad Erickson raised his price target on Google shares to $220 from $200, saying, "We still believe that GOOGL's AI competitors along with its own AI search tools are driving traffic headwinds across the internet, and yet, it is still finding a way to distribute enough intentful volume to grow the business plenty fast." Still, Alphabet has fallen short of giving hard dollar figures for its AI business while focusing on how the technology is driving growth in its existing businesses. Notably, analysts didn't seem discouraged by Alphabet raising its capital expenditure guidance for the year to $85 billion from $75 billion, driven by spending in infrastructure such as data centers and server equipment to power AI. Erickson said the company's "AI investment decisions are being made with clear ROI signals in front of it." Fed gets new legal headache with lawsuit seeking to make FOMC rate meetings public The Federal Reserve got a new legal headache Thursday when a money manager sued Chair Jerome Powell and other central bank policymakers in a Washington, D.C., federal court, arguing it is violating a 1976 federal law by keeping its monetary policy meetings behind closed doors, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. The Federal Reserve got a new legal headache Thursday when a money manager sued Chair Jerome Powell and other central bank policymakers in a Washington, D.C., federal court, arguing it is violating a 1976 federal law by keeping its monetary policy meetings behind closed doors, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. UnitedHealth stock drops after company confirms DOJ investigation into Medicare billing practices UnitedHealth (UNH) stock fell as much as 2% early Thursday after the insurance giant disclosed in a regulatory filing Thursday morning that it is facing an investigation from the Department of Justice into its Medicare billing practices, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. UnitedHealth (UNH) stock fell as much as 2% early Thursday after the insurance giant disclosed in a regulatory filing Thursday morning that it is facing an investigation from the Department of Justice into its Medicare billing practices, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Stocks trade mixed at the open US stocks traded mixed on Thursday, as hopes lifted for a US-EU trade deal and Wall Street digested earnings results from tech giants Alphabet (GOOGL, GOOG) and Tesla (TSLA) as well as fresh labor market data. The Dow Jones Industrial Average (^DJI) dropped 0.6%, after the blue-chip index ended Wednesday just shy of tis first record close this year. The tech-heavy Nasdaq Composite (^IXIC) rose roughly 0.3%, while the S&P 500 (^GSPC) climbed more than 0.1%. US stocks traded mixed on Thursday, as hopes lifted for a US-EU trade deal and Wall Street digested earnings results from tech giants Alphabet (GOOGL, GOOG) and Tesla (TSLA) as well as fresh labor market data. The Dow Jones Industrial Average (^DJI) dropped 0.6%, after the blue-chip index ended Wednesday just shy of tis first record close this year. The tech-heavy Nasdaq Composite (^IXIC) rose roughly 0.3%, while the S&P 500 (^GSPC) climbed more than 0.1%. IBM stock slides after software sales disappoint International Business Machines stock (IBM) slid 6% ahead of the opening bell after second quarter sales in its core software segment were lower than expected and the company did not provide a forecast for the third quarter. IBM's software segment, which has traditionally been a bright spot, reported sales of $7.39 billion, missing analysts' average estimate of $7.41 billion, per Reuters. After a 30% run-up in the stock year to date, the company had little room to miss estimates. Still, IBM's adjusted earnings per share of $2.80 topped the Street's expectations, and its revenue of $16.98 billion for the quarter beat estimates of $16.59 billion. Companies' spending on artificial intelligence infrastructure spurred demand for IBM's latest AI-specialized mainframes. The infrastructure segment, which houses its mainframe, reported revenue of $4.14 billion, beating estimates of $3.81 billion. Read more here from Reuters. International Business Machines stock (IBM) slid 6% ahead of the opening bell after second quarter sales in its core software segment were lower than expected and the company did not provide a forecast for the third quarter. IBM's software segment, which has traditionally been a bright spot, reported sales of $7.39 billion, missing analysts' average estimate of $7.41 billion, per Reuters. After a 30% run-up in the stock year to date, the company had little room to miss estimates. Still, IBM's adjusted earnings per share of $2.80 topped the Street's expectations, and its revenue of $16.98 billion for the quarter beat estimates of $16.59 billion. Companies' spending on artificial intelligence infrastructure spurred demand for IBM's latest AI-specialized mainframes. The infrastructure segment, which houses its mainframe, reported revenue of $4.14 billion, beating estimates of $3.81 billion. Read more here from Reuters. Jobless claims hit lowest level in three months Amid a quiet week of economic data, investors were greeted with yet another sign that the US labor market isn't flashing glaring alarm signals. Data from the Department of Labor released Thursday morning showed 217,000 initial jobless claims were filed in the week ending July 19, down 4,000 from the week prior and the lowest number of weekly filings since the week of April 12. After surging in May, weekly filings have consistently declined throughout the start of the summer. Meanwhile, 1.955 million continuing claims were filed, up about 4,000 from the week prior and hovering near the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Amid a quiet week of economic data, investors were greeted with yet another sign that the US labor market isn't flashing glaring alarm signals. Data from the Department of Labor released Thursday morning showed 217,000 initial jobless claims were filed in the week ending July 19, down 4,000 from the week prior and the lowest number of weekly filings since the week of April 12. After surging in May, weekly filings have consistently declined throughout the start of the summer. Meanwhile, 1.955 million continuing claims were filed, up about 4,000 from the week prior and hovering near the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Tesla stock slides as Musk warns of a 'few rough quarters' Tesla's (TSLA) stock is sinking in premarket as a warning from CEO Elon Musk rings in investors' ears. Shares fell over 6% after Tesla posted an earnings miss, setting the stage for a tough stretch ahead. The automaker faces the end of EV incentives brought in by President Trump, alongside potential delays to its autonomous vehicle rollout. 'We probably could have a few rough quarters,' Musk said, per Bloomberg. Meanwhile, a report Thursday showed Tesla's sales in Europe fell in June for the sixth straight month, falling 23%. Tesla's finance chief flagged other challenges on a conference call with analysts. Yahoo Finance's Pras Subramanian reports: Read more here. Tesla's (TSLA) stock is sinking in premarket as a warning from CEO Elon Musk rings in investors' ears. Shares fell over 6% after Tesla posted an earnings miss, setting the stage for a tough stretch ahead. The automaker faces the end of EV incentives brought in by President Trump, alongside potential delays to its autonomous vehicle rollout. 'We probably could have a few rough quarters,' Musk said, per Bloomberg. Meanwhile, a report Thursday showed Tesla's sales in Europe fell in June for the sixth straight month, falling 23%. Tesla's finance chief flagged other challenges on a conference call with analysts. Yahoo Finance's Pras Subramanian reports: Read more here. The AI trade hasn't changed for Big Tech — and that's working for them Alphabet (GOOG, GOOGL) and Tesla (TSLA) kicked off Big Tech earnings on Wednesday afternoon, and Yahoo Finance's Hamza Shaban recaps what investors learned in today's Morning Brief: Read more here. Alphabet (GOOG, GOOGL) and Tesla (TSLA) kicked off Big Tech earnings on Wednesday afternoon, and Yahoo Finance's Hamza Shaban recaps what investors learned in today's Morning Brief: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending July 19) Chicago Fed national activity index (June); S&P Global US manufacturing PMI (July preliminary); S&P Global US services PMI (July preliminary); S&P global US composite PMI (July preliminary); New home sales (June) Earnings: American Airlines (AAL), Blackstone (BX), Deckers (DECK), Dow (DOW), Honeywell (HON), Intel (INTC), Keurig Dr Pepper (KDP), Nasdaq (NDAQ), Nokia (NOK), Southwest Airlines (LUV), Union Pacific (UNP) Here are some of the biggest stories you may have missed overnight and early this morning: Trump signals baseline hike in 'reciprocal' tariffs to 15% The AI trade hasn't changed for Big Tech — and that's working for them Trump to visit Fed HQ for refurb check as he battles with Powell Keurig Dr Pepper beats estimates but coffee inflation lurks Google beats on earnings, doubles down on AI spending spree Tesla stock sinks after earnings miss, 'rough' patch warning Chipotle plunges after company reports 2nd straight sales decline Goldman's trading desk touts cheap hedges against S&P 500 slide Meme stock rally has investors feeling 'invulnerable' Economic data: Initial jobless claims (week ending July 19) Chicago Fed national activity index (June); S&P Global US manufacturing PMI (July preliminary); S&P Global US services PMI (July preliminary); S&P global US composite PMI (July preliminary); New home sales (June) Earnings: American Airlines (AAL), Blackstone (BX), Deckers (DECK), Dow (DOW), Honeywell (HON), Intel (INTC), Keurig Dr Pepper (KDP), Nasdaq (NDAQ), Nokia (NOK), Southwest Airlines (LUV), Union Pacific (UNP) Here are some of the biggest stories you may have missed overnight and early this morning: Trump signals baseline hike in 'reciprocal' tariffs to 15% The AI trade hasn't changed for Big Tech — and that's working for them Trump to visit Fed HQ for refurb check as he battles with Powell Keurig Dr Pepper beats estimates but coffee inflation lurks Google beats on earnings, doubles down on AI spending spree Tesla stock sinks after earnings miss, 'rough' patch warning Chipotle plunges after company reports 2nd straight sales decline Goldman's trading desk touts cheap hedges against S&P 500 slide Meme stock rally has investors feeling 'invulnerable' Meme stock rally has investors feeling 'invulnerable' Retail investors with an appetite for risk are piling into speculative trades and creating a new roster of meme-stocks, helping power a broader rally in markets, Yahoo Finance's Jake Conley reports: Read more here. Retail investors with an appetite for risk are piling into speculative trades and creating a new roster of meme-stocks, helping power a broader rally in markets, Yahoo Finance's Jake Conley reports: Read more here. STMicro stock falls by most in a year after surprise loss STMicroelectronics (STM) delivered a double whammy in its earnings on Thursday: A surprise Q2 loss from restructuring charges and a disappointing outlook for Q3. US-listed stock in the European chipmaker slid over 10% in premarket trading, while its shares in Paris ( fell to their lowest in a year at one point, down 13%. Bloomberg reports: Read more here. STMicroelectronics (STM) delivered a double whammy in its earnings on Thursday: A surprise Q2 loss from restructuring charges and a disappointing outlook for Q3. US-listed stock in the European chipmaker slid over 10% in premarket trading, while its shares in Paris ( fell to their lowest in a year at one point, down 13%. Bloomberg reports: Read more here. Trending tickers: Chipotle Mexican Grill, T-mobile and Wolfspeed Here are some top stocks trending on Yahoo Finance in premarket trading: Chipotle Mexican Grill (CMG) stock fell 10% before the bell on Thursday after reporting another quarter of negative sales growth. The fast-casual restaurant chain posted results on Wednesday as it navigates an uncertain consumer environment and as its new leadership deals with the most challenging backdrop in years. T-mobile (TMUS) stock rose 5% premarket on Thursday after beating analyst estimates on Wednesday. The telecom group's CEO Mike Sievert told Yahoo Finance's executive editor Brian Sozzi that the company's steady value messaging is helping it to gain market share. Wolfspeed (WOLF) shares rose 18% before the bell. The chipmaker's stock reacted positively this week to the new US-Japan trade deal and has been up 13% over the last five days. The US-Japan trade deal boosts optimism for Wolfspeed as it supports Renesas' EV chip production, raising hopes for more deals with automakers like Jaguar Land Rover. Here are some top stocks trending on Yahoo Finance in premarket trading: Chipotle Mexican Grill (CMG) stock fell 10% before the bell on Thursday after reporting another quarter of negative sales growth. The fast-casual restaurant chain posted results on Wednesday as it navigates an uncertain consumer environment and as its new leadership deals with the most challenging backdrop in years. T-mobile (TMUS) stock rose 5% premarket on Thursday after beating analyst estimates on Wednesday. The telecom group's CEO Mike Sievert told Yahoo Finance's executive editor Brian Sozzi that the company's steady value messaging is helping it to gain market share. Wolfspeed (WOLF) shares rose 18% before the bell. The chipmaker's stock reacted positively this week to the new US-Japan trade deal and has been up 13% over the last five days. The US-Japan trade deal boosts optimism for Wolfspeed as it supports Renesas' EV chip production, raising hopes for more deals with automakers like Jaguar Land Rover. American Eagle stock soars after-hours in latest meme push Stock in retail giant American Eagle Outfitters, Inc. (AEO) flew up over 25% in after-hours trades overnight Thursday. The individual share price went from $10.82 at close to a peak of $13.80 as of 10:57 p.m. EDT. The jump in value can be attributed to the current meme stock phase that has pushed up value in companies such as Opendoor (OPEN), Krispy Kreme (DNUT), Kohl's (KSS), and GoPro (GPRO) over the past few days. Much of meme-stock mania can be attributed to retail investors making moves in stocks with 'undervalued fundamentals', and the rallying of groups around individual personalities. With this in mind, the release of an ad campaign starring actress Sydney Sweeney has been leapt upon by members of online communities on Reddit and X. Though seen in other companies receiving the benefits of online attention, with Opendoor receiving a 140% increase in retail revenue in the past two weeks, it is unclear whether the increase in stock value will see a corresponding increase in revenue for American Eagle. Stock in retail giant American Eagle Outfitters, Inc. (AEO) flew up over 25% in after-hours trades overnight Thursday. The individual share price went from $10.82 at close to a peak of $13.80 as of 10:57 p.m. EDT. The jump in value can be attributed to the current meme stock phase that has pushed up value in companies such as Opendoor (OPEN), Krispy Kreme (DNUT), Kohl's (KSS), and GoPro (GPRO) over the past few days. Much of meme-stock mania can be attributed to retail investors making moves in stocks with 'undervalued fundamentals', and the rallying of groups around individual personalities. With this in mind, the release of an ad campaign starring actress Sydney Sweeney has been leapt upon by members of online communities on Reddit and X. Though seen in other companies receiving the benefits of online attention, with Opendoor receiving a 140% increase in retail revenue in the past two weeks, it is unclear whether the increase in stock value will see a corresponding increase in revenue for American Eagle. Oil prices rise on trade deal positivity, stockpile reduction Crude oil prices climbed late night Thursday, fueled by hopes for progress in US trade talks and a surprise plunge in American oil stockpiles, easing concerns about global economic slowdown. Reuters reports: Read more here. Crude oil prices climbed late night Thursday, fueled by hopes for progress in US trade talks and a surprise plunge in American oil stockpiles, easing concerns about global economic slowdown. Reuters reports: Read more here. 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Yahoo
23 minutes ago
- Yahoo
Witkoff says US cutting short Gaza ceasefire talks over Hamas's ‘lack of desire'
US President Donald Trump's special envoy Steve Witkoff said on Thursday the US is cutting short Gaza ceasefire talks and bringing home its negotiating team from Qatar for consultations after the latest response from Hamas 'shows a lack of desire to reach a ceasefire in Gaza'. 'While the mediators have made a great effort, Hamas does not appear to be co-ordinated or acting in good faith,' Mr Witkoff said. 'We will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza.' He said it was 'a shame that Hamas has acted in this selfish way' and that the US is 'resolute' in seeking an end to the conflict in Gaza. A breakthrough in talks on a ceasefire deal between Israel and Hamas has eluded the Trump administration for months as conditions worsen in Gaza. The sides have held weeks of talks in Qatar, reporting small signs of progress but no major breakthroughs. Officials have said a main sticking point is the redeployment of Israeli troops after any ceasefire takes place.
American Press
24 minutes ago
- American Press
Trump grants exemptions to Louisiana chemical facilities
(Metro Creative Serivces) President Donald Trump issued a proclamation exempting certain chemical manufacturing facilities from upcoming changes to the EPA's Hazardous Organic National Emission Standards for Hazardous Air Pollutants. The new rule, finalized on May 16, 2024, would impose stricter emissions control requirements on facilities in the synthetic chemical and polymer manufacturing sectors. In his proclamation, President Trump highlighted the 'substantial burdens' that these regulations would impose on chemical manufacturers who are already operating under stringent regulations. The president expressed concerns that many of the testing and monitoring requirements outlined in the HON Rule rely on technologies that are either unavailable, unproven at the required scale, or unsafe to implement under real-world conditions. 'These requirements assume uniform technological availability across facilities, despite significant variation in site conditions, equipment configurations, and permitting realities,' the proclamation reads. 'For many facilities, compliance would require shutdowns or costly capital investments without a clear path to meeting the new standards.' The new HON rule aims to reduce toxic air pollutants from equipment and processes used in synthetic chemical manufacturing. It directly affects facilities across Louisiana, Texas, New Jersey, Delaware, and the Ohio River Valley. The rule targets smog-forming volatile organic compounds and establishes new emission limits for dioxins and furans. Additionally, facilities will be required to implement fenceline monitoring if they handle any of six high-risk chemicals. The facilities in Louisiana granted an exemption from these new regulations include prominent chemical plants such as Shell Geismar, Dow Chemical Glycol Plant, Formosa Plastic, Union Carbide/Dow Chemical in Hahnville, Westlake Vinyl and several others. 'LDEQ leadership was aware that some Louisiana facilities had applied for this exemption, and we were closely monitoring the status,' said Courtney Burdette, Secretary of the Louisiana Department of Environmental Quality. 'We will continue to enforce existing HON rules for these plants, with no changes in how the agency oversees their operations.' The proclamation also stresses the importance of maintaining a robust domestic chemical industry, citing its vital role in national defense, energy, agriculture, and public health sectors. Trump emphasized that a disruption in the industry would weaken key supply chains, increase dependence on foreign producers, and impair the country's crisis response capabilities. The exemption granted to these facilities delays compliance with the HON rule for an additional two years beyond the original deadline. During this period, these facilities will continue to operate under the previous emissions standards.
