Social Media Firms Accountable for Posts, Brazil Judges Conclude
Justice Gilmar Mendes on Wednesday evening became the sixth of the court's 11 judges to vote that websites such as Facebook, Instagram, TikTok and X should be responsible for taking down fake news and vitriolic content even before legal orders to do so, and can face sanctions if they don't.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Job market concerns take center stage as earnings season rolls on: What to watch this week
Stocks tumbled from record highs on Friday as data revealed the US labor market is not on as solid footing as previously thought. On the week, the S&P 500 (^GSPC) fell nearly 2.4%, while the Nasdaq Composite (^IXIC) slid 2.2% and the Dow Jones Industrial Average (^DJI) shed 1.2%. Markets will be greeted with a quieter week of economic news with no major releases anticipated. Meanwhile, another busy week of corporate releases is set to greet investors with 122 S&P 500 companies set to report, led by Palantir (PLTR), Eli Lilly (LLY), and Disney (DIS). A September shift Markets exited Wednesday's Federal Reserve press conference leaning toward no interest rate cuts in the near future. That narrative flipped on its head on Friday morning. The latest monthly jobs report showed the US labor market added fewer jobs than expected in July while the unemployment rate moved higher, and revisions to prior months' numbers revealed significantly fewer jobs had been added than initially thought. In its release, the BLS said downward revisions to the May and June jobs reports "were larger than normal," with those changes showing more than a quarter million fewer jobs were added to the economy over those months. May's job gains were revised down to 19,000 from 144,000, while June's additions were cut to just 14,000 from the 147,000 initially reported. Market pricing and economists argue Friday's report was likely a game changer for the overall economic narrative and how the Fed will move forward. Following Friday's jobs report, the probability of a September interest rate cut from the Fed surged to 83%, up from just 38% the day prior, per the CME FedWatch Tool. "Our base case since January has been that the Fed won't cut rates this year," Bank of America Securities US economist Shruti Mishra wrote in a note to clients. "However, we have been arguing that the most likely alternate scenario is that labor market deterioration will force the Fed into 'bad cuts', which could play out at a pace of at least 25bp per meeting. The massive downward revision to payrolls in the July jobs report increases the probability of this scenario." AI leadership The July jobs report showed the US economy may be slowing more than initially thought, sparking a Friday market sell-off. "Ultimately, stocks do better in a stronger economy than one that requires the intervention from the Fed," Interactive Brokers chief strategist Steve Sosnick told Yahoo Finance. The economic growth concerns clouded what had been a positive week for the market as Big Tech earnings revealed AI investment is not stopping anytime soon. In at note to clients on Friday, Capital Economics senior market economist James Reilly wrote that Friday's market-sell off is likely "overdone," as AI will remain the "key driver" of global equities. "These major US 'hyperscalers' are collectively continuing to invest heavily," Reilly wrote while pointing out Big Tech has recently outperformed the broader market following earnings reports. "That's one reason why we are positive on the outlook for the tech-heavy segments of the stock market, and on the outlook for US stocks as a whole." Earnings volatility After about two-thirds of the S&P 500 have reported earnings, the index is pacing for earnings growth of 10.3%, up from the 5% expected on June 27, per FactSet data. Largely, the market has floated higher amid the slew of earnings releases. But under the surface, there have been significant stock moves off individual reports. In just the past week, Meta (META) stock rose more than 12% after topping estimates for both revenue and earnings per share. Meanwhile, Novo Nordisk (NVO) stock tanked 20% after cutting its full-year sales outlook. Julian Emanuel, who leads the equity, derivatives, and quantitative strategy team at Evercore ISI, noted that stocks are moving more than average in the day following releases, regardless of whether or not they beat or miss Wall Street's expectations. For example, the average S&P 500 stock that misses estimates for both sales and earnings per share is seeing a 4.9% decline in the next trading day, a steeper decline than the average of 3.2% seen over the past five years. With the market trading near record highs, Emanuel noted investors are "agitated by anything short of perfect" this corporate earnings season. Weekly Calendar Monday Economic data: Factory orders, June (-5% expected, +8.2% prior); Durable goods orders, June final (-9.3% expected, -9.3% prior) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Tuesday Economic data: S&P Global US Services PMI, July final (55.2 prior), S&P Global US Composite, July final (54.6 prior); ISM services index, July (51.5 expected, 50.8 prior) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Wednesday Economic data: MBA mortgage applications, week ending Aug. 1 (-3.8% prior) Earnings: Applovin (APP), e.l.f. Beauty (ELF), Disney (DIS), DraftKings (DKNG), McDonald's (MCD), Novo Nordisk (NVO), Shopify (SHOP), Six Flags (FUN), Uber (UBER) Thursday Economic data: Initial jobless claims, week ending Aug. 2 (218,000 prior); Nonfarm productivity, second quarter preliminary (+2.5% expected, -1.5% prior); Unit labor costs, second quarter preliminary (+1.3% expected, +6.6% prior) Earnings: Block (XYZ), Celsius (CELH), Conoco Phillips (COP), Eli Lilly (LLY), Sony (SONY), SoundHound (SOUN) (SOUN), Pinterest (PINS), Take Two Interactive (TTWO), Twilio (TWLO), The Trade Desk (TTD), Vistra Energy (VST) Friday Economic calendar: No notable releases. Earnings: Canopy Growth (CGC), fuboTV (FUBO), Wendy's (WEN) Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Best money market account rates today, August 3, 2025 (best account provides 4.41% APY)
Find out how much you could earn with today's money market account rates. The Federal Reserve cut its target rate three times in 2024. So deposit rates — including money market account (MMA) rates — have started falling. It's more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Overview of money market account rates today The national average money market account rate stands at 0.62%, according to the FDIC. Even so, some of the top accounts are currently offering rates of 4% APY and up. Since these rates may not be around much longer, consider opening a money market account now to take advantage of today's high rates. Here's a look at some of the top MMA rates available today:Additionally, the table below features some of the best savings and money market account rates available today from our verified partners. This embedded content is not available in your region. How much interest can I earn with a money market account? The amount of interest you can earn from a money market account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (money market account interest typically compounds daily). Say you put $1,000 in an MMA at the average interest rate of 0.64% with daily compounding. At the end of one year, your balance would grow to $1,006.42 — your initial $1,000 deposit, plus just $6.42 in interest. Now let's say you choose a high-yield money market account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a money market account, the more you stand to earn. If we took our same example of a money market account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. This embedded content is not available in your region.
Yahoo
2 hours ago
- Yahoo
4 Types of Workers Could Save Big Under Trump's Overtime Tax Break
President Donald Trump's signature One Big Beautiful Bill Act (OBBBA) includes a provision that allows employees who work more than 40 hours per week to deduct a portion of their overtime pay from their taxable income. The 1938 Fair Labor Standards Act (FLSA) guarantees pay of at least 1.5 times a worker's regular wages for every hour worked over 40 in a given seven-day period. Traditionally, time-and-a-half pay has been subject to federal income taxes, including those that fund Medicare and Social Security. However, from 2025 through 2028, eligible taxpayers can deduct up to $12,500 in overtime pay, or $25,000 for joint filers, without itemizing, provided they earn less than $150,000, at which point the deduction begins to phase out. However, the FLSA and its numerous subsequent updates have carved out exceptions for executives, administrative and professional employees, those in certain computer and sales occupations and others who are exempt from overtime pay protection. Therefore, many Americans won't benefit from the new rule. This article profiles those who likely will. Check Out: Read Next: Nurses According to the Lore Law Firm, at least 18 states have laws regulating mandatory overtime for nurses. In much of the country, however, these crucial healthcare workers are often required to work more than 40 hours per week, whether they want to or not, to compensate for persistent staffing shortages. As early as 2004, the CDC was reporting on the heavy toll that mandatory overtime was taking on nurses and their patients, citing fatigue, burnout, diminished work performance and increased error rates due to long hours of stressful work. Roughly 20 years later, ShiftMed reported that little had changed. The OBBBA stands to give millions of nonexempt nurses a break — on their taxes, at least, if not at their workplaces. See More: Law Enforcement Like nurses, law enforcement officers play a crucial role in society that often requires them to work overtime. Also like nurses, many seek extra hours voluntarily, but often don't have a choice. According to the Bureau of Labor Statistics (BLS) Occupational Outlook Handbook page for police and detectives, 'Paid overtime is common, and shift work is necessary to protect the public at all times.' Tradespeople Overtime is common in many trades occupations. Like police officers and nurses, the nature of their work often makes extra hours an unavoidable part of the job. The following are some of the many circumstances that can keep them working beyond 40 hours per week. Emergency repairs Installations with tight deadlines Frequent calls after regular business hours Spikes in demand during extreme weather events The tradespeople most likely to work overtime — and therefore benefit from the new OBBBA provisions — are: Welders Plumbers Electricians Construction workers HVAC techs Manufacturing Employees According to the BLS, the average manufacturing employee works between 3.6 and 3.7 hours of overtime per week, or roughly 14.6 hours of time-and-a-half pay per month. That's nearly 190 overtime hours per year — much of which will now be tax-deductible. In fact, reliance on overtime is so common in the sector that the industrial staffing firm Traba wrote a report with striking similarities to the ShiftMed report on the nursing crisis. Chronic understaffing as high as 34% in some industries forces manufacturing companies to pay staggering levels of overtime compensation, with some employees racking up 500 overtime hours per year or more. Similarly to nursing, the result is often burnout, diminished performance and preventable accidents, often to the most seasoned and reliable employees. More From GOBankingRates 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on 4 Types of Workers Could Save Big Under Trump's Overtime Tax Break Sign in to access your portfolio
