What Medicaid Work Requirements Mean for Enrollees
Policy analysts expect millions of people to lose coverage either because they won't bother to comply with the new rules or because they aren't able to keep up with the paperwork and other bureaucratic hurdles states will erect for proving eligibility.
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San Francisco Chronicle
19 minutes ago
- San Francisco Chronicle
Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops
MANILA, Philippines (AP) — Asian shares were mixed on Wednesday following a similar drift overnight on Wall Street as losses for Tesla and other technology shares put a brake on the momentum of recent record highs. U.S. futures edged higher and oil prices were little changed. Shares fell in Japan, hit by jitters over a lack of progress in trade talks with the U.S., but they recovered much of their lost ground, trading 0.3% lower at 39,874.33. Stephen Innes, managing partner at SPI Asset Management, pointed to President Donald Trump's declaration that there will be no extension of his tariff pause, which ends on July 9. 'The message was blunt: if Tokyo won't yield, it will pay. Tariffs of 30%, 35% or 'whatever number we determine' are now openly back on the table,' he said. 'The negotiating table just became a pressure cooker.' Hong Kong's Hang Seng advanced 0.6% to 24,220.65 and the Shanghai Composite index was down just over 1 point at 3,456.51. Australia's S&P ASX 200 edged up 0.4% to 8,580.70. On Tuesday, the S&P 500 dipped 0.1% to 6,198.01 for its first loss in four days. The Dow Jones Industrial Average rose 0.9% to 44,494.94, and the Nasdaq composite fell 0.8% to 20,202.89. Tesla tugged on the market as the relationship between its CEO, Elon Musk, and President Donald Trump soured even further. Once allies, the two have clashed recently, and Trump suggested there's potentially 'BIG MONEY TO BE SAVED' by scrutinizing subsidies, contracts or other government spending going to Musk's companies. Tesla fell 5.3%. It has lost just over a quarter of its value so far this year, 25.5%, in large part because of Musk's and Trump's feud. Drops for several darlings of the artificial-intelligence frenzy also weighed on the market. Nvidia's decline of 3% was the heaviest weight on the S&P 500. But more stocks within the index rose than fell, led by several casino companies. They rallied following a report showing better-than-expected growth in overall gaming revenue in Macao, China's casino hub. Las Vegas Sands gained 8.9%, Wynn Resorts climbed 8.8% and MGM Resorts International rose 7.3%. Automakers outside of Tesla were also strong, with General Motors up 5.7% and Ford Motor up 4.6%. The U.S. stock market has made a stunning recovery from its springtime sell-off of roughly 20%. But challenges still lie ahead for Wall Street, with one of the largest being the continued threat of Trump's tariffs. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Depending on how big they are, they could hurt the economy and worsen inflation. Washington is also making progress on proposed cuts to tax rates and other measures that could send the U.S. government's debt spiraling higher, which could raise inflation. That in turn could mean higher interest rates, which would hurt prices for bonds, stocks and other investments. Despite such challenges, strategists at Barclays say they see signals of euphoria among some investors. The strategists say a measure that tries to show how much 'excess optimism' is in the market is not far from the peaks seen during the 'meme stock' craze that sent GameStop to market-bending heights or to the dot-com bubble at the turn of the millennium. In other dealings early Wednesday, benchmark U.S. crude gained 1 cent to $65.46 per barrel. Brent crude, the international standard, rose 5 cents per barrel to $67.16.
Yahoo
19 minutes ago
- Yahoo
Trump withholds $800 million in education grants for California, superintendent claims
The California State Department of Education is raising concerns after the Trump administration held $6.8 billion in federal grants intended to fund educational opportunities ranging from after-school programs to migrant education.
Yahoo
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Berenberg Upgrades Autodesk (ADSK) Stock to Buy from Hold
Autodesk, Inc. (NASDAQ:ADSK) is one of the Top 10 AI and Technology Stocks to Buy According to Analysts. On June 27, Berenberg upgraded the company's stock to 'Buy' from 'Hold' with a price objective of $365, an increase from the prior target of $325, as reported by The Fly. The firm noted a compelling margin-expansion opportunity at Autodesk, Inc. (NASDAQ:ADSK). Unlike earlier AI tools, which simply improved user productivity, the AI agents have the ability to execute business tasks with full autonomy and agency, according to the firm's analyst. A software engineer using AutoCAD Civil 3D to create a 3D design in a modern office setting. The firm believes that this technological advance unlocks fundamental new value in AI adoption for enterprises, and this trend can benefit Autodesk, Inc. (NASDAQ:ADSK). The company is focusing its growth investments on the strategic priorities in cloud, platform, and AI. Furthermore, it continues to optimize its sales and marketing and has been investing to enable future optimization, which fuels higher margins. For Q2 2026, Autodesk, Inc. (NASDAQ:ADSK) expects revenue in the range of $1,720 million – $1,730 million, and EPS (GAAP) of between $1.37 – $1.46. Autodesk, Inc. (NASDAQ:ADSK) is a leading AI and technology business because it is engaged in developing advanced software platforms for engineering, design, and manufacturing. The company uses AI for the automation of design processes and optimization of construction planning. Parnassus Investments, an investment management company, released its Q3 2024 investor letter. Here is what the fund said: 'In Software, we added Autodesk, Inc. (NASDAQ:ADSK) and Cloudflare while exiting We believe Autodesk's dominant position in architecture, engineering and construction software allows it to increase margins and offer attractive revenue growth. Autodesk is a market-leading vertical software company with the ability to meaningfully improve its margins, while its revenue growth should accelerate as it completes its sales channel re-alignment.' While we acknowledge the potential of ADSK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ADSK and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds' investor letters by entering your email address below.
