Tim Cook's White House Visit Shows the True Cost of Tariffs
In related news, Apple Chief Executive Tim Cook went to the White House last week to give President Donald Trump a large piece of gold. In exchange, Trump said that Apple would be exempt from a new 100% tariff the US is imposing on imported microchips. Officially, Apple gets the exemption because it committed to making a $100 billion investment in the US. Apple had already announced earlier this year a $500 billion investment program, which itself was a modest expansion of previous plans.
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Stock market today: Dow, S&P 500, Nasdaq waver after PPI inflation comes in much hotter than expected
US stocks stalled on Thursday as Wall Street digested a much hotter-than-expected PPI inflation print, souring optimism around a large September rate cut. The major gauges wavered for much of the sesssion, with the Dow Jones Industrial Average (^DJI) down 0.2% and the benchmark S&P 500 (^GSPC) hovering near the flatline. The tech-heavy Nasdaq Composite (^IXIC) was also little changed. July's Producer Price Index (PPI) came in well above expectations, with month-over-month prices rising 0.9% compared to expectations of 0.2%. On an annual basis, prices rose 3.3%, the most since February. "Core" producer prices, which strip out the cost of food and energy, saw the largest increase in three years. Euphoria over a possible September rate cut had swept Wall Street over the past two sessions after July's Consumer Price Index report showed inflation rose as expected, but not dramatically. Traders had fully priced in a rate cut at the Fed's next meeting, even as some Fed policymakers continue to urge patience. By Thursday, the vast majority of bets were still on a cut, but nearly 10% of traders were pricing in a rate hold. Meanwhile, bets on a "jumbo" 50-basis-point cut evaporated. The inflation shock sapped some of the enthusiasm out of a roaring market this week. Stocks extended their rally on Wednesday, pushing the S&P 500 and Nasdaq to consecutive record highs. Bitcoin (BTC-USD) got a boost from mounting rate-cut bets, too, reaching a new record high Wednesday evening before rolling over. Friday's retail sales reading will serve as this week's final key economic data point. In corporate news, cryptocurrency exchange operator Bullish (BLSH) rose 10% on Thursday, hovering around $75, about double its IPO price of $37. Cisco CFO sees big AI opportunities despite concerns about slowing core growth Yahoo Finance's Francisco Velasquez reports: Read more here. Netflix stock pops 3% after doubling ad commitments Netflix (NFLX) shares rose about 3% on Thursday after the streamer announced it had doubled its overall ad commitments during this year's US Upfront and finalized deals with all major holding companies and independent agencies. Amy Reinhard, president of Netflix advertising, said the results were in line with expectations, with brands eager to align with the platform's upcoming slate, which includes the final season of "Stranger Things" and new seasons of "Bridgerton," "Emily in Paris," and "Nobody Wants This." "We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world," Reinhard said in a company blog post. Netflix executives are doubling down on their ad-supported tier as a key engine for future growth. On last month's second quarter earnings call, CFO Spencer Neumann said ad sales are showing "nice momentum," with the company expecting ad revenue to roughly double to about $3 billion in 2025. The push comes as Netflix continues to grow its ad tier audience, which hit 94 million global monthly active users, up from 70 million in November. Earlier this year, the streamer hiked prices across several US plans, including its ad-supported offering, which is still among the cheapest options at $7.99 per month. Netflix co-CEO Greg Peters noted that retention remains "stable and industry-leading" while overall engagement remains strong. Recent price hikes, he said, have performed in line with expectations, reinforcing Netflix's confidence in its monetization strategy even as the company keeps a close eye on broader consumer sentiment. Opendoor stock skyrockets more than 20% Opendoor Technologies (OPEN) gained more than 20% on Thursday, occupying a spot on the Yahoo Finance Trending Tickers page. The iBuyer platform's stock has gone from under $1 in July to more than $4.80 at the height of the meme craze last month. On Thursday, shares hovered just below $3 each, but they were still far below their all-time high of $39.24, reached in February 2021. Monterey Car Week 2025: 3 things to watch Pras Subramanian reports: Read more here. No crisis after all? Why Americans might be more prepared for retirement than you think. Yahoo Finance's Robert Powell reports: Read more here. Bitcoin retreats from record after hot PPI print, no plans for US to add to reserve through purchases Bitcoin (BTC-USD) fell 3% on Thursday, retreating from its record high after hotter-than-expected inflation soured expectations of a large rate cut in September. Treasury Secretary Scott Bessent indicated the US wouldn't buy any more tokens for its reserve, but it wouldn't sell any either. On Wednesday, bitcoin touched an all-time high record, surpassing $123,000 per token. Crypto rolled over after July's producer price index came in much higher than expected. During an interview with Fox Business this morning, Bessent said US reserves of bitcoin amount to around $15 billion or $20 billion at today's prices. "We've also started to get into the 21st century — a bitcoin strategic reserve. We're not going to be buying that, but we are going to use confiscated assets and continue to build that up. We're going to stop selling that," he said. Expectations of Fed rate cuts, coupled with heavy purchases from corporate treasurys, have driven up the price of the asset this year. The cryptocurrency has gained 25% year to date and has rallied roughly 57% since the April lows. Amazon could seize market share and drive down fees with its latest grocery bet Yahoo Finance's Francisco Velasquez reports: Read more here. Nvidia rises after denying Rubin chip delay Nvidia (NVDA) stock climbed nearly 1% Thursday morning after the company told Barron's and Seeking Alpha that its Rubin chip is "on track" after an analyst at Fubon Research indicated the GPU could be delayed. The company did not immediately respond to Yahoo Finance's request for comment. 'We think it is very likely that Rubin will be delayed," Fubon Research analyst Sherman Shang wrote in a research note seen by the outlets. "The first version of Rubin was already taped out in late June, but Nvidia is now redesigning the chip to better match AMD's upcoming MI450." "We think the next tape out schedule will be in late September or October, and based on the tape out schedule, the Rubin volume will be limited in 2026," Shang said. Nvidia said the report was incorrect in emailed statements to the outlets. Rubin is Nvidia's next-generation AI chip architecture, the successor to Blackwell, and it was unveiled during the company's annual GTC conference in 2025. stock continues freefall after 'brutal' preliminary financial results stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex wrote in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO, Tom Siebel, for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes (BKR). In 2023, short-selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms, including Oppenheimer and DA Davidson, have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," Dan Ives wrote in a note to clients Monday. America's favorite office lunch spots are having a challenging summer Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks fall at the open after latest inflation data shows rising producer prices US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. Wholesale inflation rises more than expected in July The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. September rate hold? Investors say it's (sort of) back on the table Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Trending tickers in premarket trading: Bullish, Deere, Cisco Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Bitcoin, ethereum trade near record highs as Wall Street grows bullish on crypto Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Stocks may be at all-time highs, but speculative froth isn't Yahoo Finance's Hamza Shaban reports: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Amazon grocery push stocks still in focus When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: I don't hate this Cisco quarter Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Bullish stock rises to $75 after IPO debut Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Cisco CFO sees big AI opportunities despite concerns about slowing core growth Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Netflix stock pops 3% after doubling ad commitments Netflix (NFLX) shares rose about 3% on Thursday after the streamer announced it had doubled its overall ad commitments during this year's US Upfront and finalized deals with all major holding companies and independent agencies. Amy Reinhard, president of Netflix advertising, said the results were in line with expectations, with brands eager to align with the platform's upcoming slate, which includes the final season of "Stranger Things" and new seasons of "Bridgerton," "Emily in Paris," and "Nobody Wants This." "We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world," Reinhard said in a company blog post. Netflix executives are doubling down on their ad-supported tier as a key engine for future growth. On last month's second quarter earnings call, CFO Spencer Neumann said ad sales are showing "nice momentum," with the company expecting ad revenue to roughly double to about $3 billion in 2025. The push comes as Netflix continues to grow its ad tier audience, which hit 94 million global monthly active users, up from 70 million in November. Earlier this year, the streamer hiked prices across several US plans, including its ad-supported offering, which is still among the cheapest options at $7.99 per month. Netflix co-CEO Greg Peters noted that retention remains "stable and industry-leading" while overall engagement remains strong. Recent price hikes, he said, have performed in line with expectations, reinforcing Netflix's confidence in its monetization strategy even as the company keeps a close eye on broader consumer sentiment. Netflix (NFLX) shares rose about 3% on Thursday after the streamer announced it had doubled its overall ad commitments during this year's US Upfront and finalized deals with all major holding companies and independent agencies. Amy Reinhard, president of Netflix advertising, said the results were in line with expectations, with brands eager to align with the platform's upcoming slate, which includes the final season of "Stranger Things" and new seasons of "Bridgerton," "Emily in Paris," and "Nobody Wants This." "We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world," Reinhard said in a company blog post. Netflix executives are doubling down on their ad-supported tier as a key engine for future growth. On last month's second quarter earnings call, CFO Spencer Neumann said ad sales are showing "nice momentum," with the company expecting ad revenue to roughly double to about $3 billion in 2025. The push comes as Netflix continues to grow its ad tier audience, which hit 94 million global monthly active users, up from 70 million in November. Earlier this year, the streamer hiked prices across several US plans, including its ad-supported offering, which is still among the cheapest options at $7.99 per month. Netflix co-CEO Greg Peters noted that retention remains "stable and industry-leading" while overall engagement remains strong. Recent price hikes, he said, have performed in line with expectations, reinforcing Netflix's confidence in its monetization strategy even as the company keeps a close eye on broader consumer sentiment. Opendoor stock skyrockets more than 20% Opendoor Technologies (OPEN) gained more than 20% on Thursday, occupying a spot on the Yahoo Finance Trending Tickers page. The iBuyer platform's stock has gone from under $1 in July to more than $4.80 at the height of the meme craze last month. On Thursday, shares hovered just below $3 each, but they were still far below their all-time high of $39.24, reached in February 2021. Opendoor Technologies (OPEN) gained more than 20% on Thursday, occupying a spot on the Yahoo Finance Trending Tickers page. The iBuyer platform's stock has gone from under $1 in July to more than $4.80 at the height of the meme craze last month. On Thursday, shares hovered just below $3 each, but they were still far below their all-time high of $39.24, reached in February 2021. Monterey Car Week 2025: 3 things to watch Pras Subramanian reports: Read more here. Pras Subramanian reports: Read more here. No crisis after all? Why Americans might be more prepared for retirement than you think. Yahoo Finance's Robert Powell reports: Read more here. Yahoo Finance's Robert Powell reports: Read more here. Bitcoin retreats from record after hot PPI print, no plans for US to add to reserve through purchases Bitcoin (BTC-USD) fell 3% on Thursday, retreating from its record high after hotter-than-expected inflation soured expectations of a large rate cut in September. Treasury Secretary Scott Bessent indicated the US wouldn't buy any more tokens for its reserve, but it wouldn't sell any either. On Wednesday, bitcoin touched an all-time high record, surpassing $123,000 per token. Crypto rolled over after July's producer price index came in much higher than expected. During an interview with Fox Business this morning, Bessent said US reserves of bitcoin amount to around $15 billion or $20 billion at today's prices. "We've also started to get into the 21st century — a bitcoin strategic reserve. We're not going to be buying that, but we are going to use confiscated assets and continue to build that up. We're going to stop selling that," he said. Expectations of Fed rate cuts, coupled with heavy purchases from corporate treasurys, have driven up the price of the asset this year. The cryptocurrency has gained 25% year to date and has rallied roughly 57% since the April lows. Bitcoin (BTC-USD) fell 3% on Thursday, retreating from its record high after hotter-than-expected inflation soured expectations of a large rate cut in September. Treasury Secretary Scott Bessent indicated the US wouldn't buy any more tokens for its reserve, but it wouldn't sell any either. On Wednesday, bitcoin touched an all-time high record, surpassing $123,000 per token. Crypto rolled over after July's producer price index came in much higher than expected. During an interview with Fox Business this morning, Bessent said US reserves of bitcoin amount to around $15 billion or $20 billion at today's prices. "We've also started to get into the 21st century — a bitcoin strategic reserve. We're not going to be buying that, but we are going to use confiscated assets and continue to build that up. We're going to stop selling that," he said. Expectations of Fed rate cuts, coupled with heavy purchases from corporate treasurys, have driven up the price of the asset this year. The cryptocurrency has gained 25% year to date and has rallied roughly 57% since the April lows. Amazon could seize market share and drive down fees with its latest grocery bet Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Nvidia rises after denying Rubin chip delay Nvidia (NVDA) stock climbed nearly 1% Thursday morning after the company told Barron's and Seeking Alpha that its Rubin chip is "on track" after an analyst at Fubon Research indicated the GPU could be delayed. The company did not immediately respond to Yahoo Finance's request for comment. 'We think it is very likely that Rubin will be delayed," Fubon Research analyst Sherman Shang wrote in a research note seen by the outlets. "The first version of Rubin was already taped out in late June, but Nvidia is now redesigning the chip to better match AMD's upcoming MI450." "We think the next tape out schedule will be in late September or October, and based on the tape out schedule, the Rubin volume will be limited in 2026," Shang said. Nvidia said the report was incorrect in emailed statements to the outlets. Rubin is Nvidia's next-generation AI chip architecture, the successor to Blackwell, and it was unveiled during the company's annual GTC conference in 2025. Nvidia (NVDA) stock climbed nearly 1% Thursday morning after the company told Barron's and Seeking Alpha that its Rubin chip is "on track" after an analyst at Fubon Research indicated the GPU could be delayed. The company did not immediately respond to Yahoo Finance's request for comment. 'We think it is very likely that Rubin will be delayed," Fubon Research analyst Sherman Shang wrote in a research note seen by the outlets. "The first version of Rubin was already taped out in late June, but Nvidia is now redesigning the chip to better match AMD's upcoming MI450." "We think the next tape out schedule will be in late September or October, and based on the tape out schedule, the Rubin volume will be limited in 2026," Shang said. Nvidia said the report was incorrect in emailed statements to the outlets. Rubin is Nvidia's next-generation AI chip architecture, the successor to Blackwell, and it was unveiled during the company's annual GTC conference in 2025. stock continues freefall after 'brutal' preliminary financial results stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex wrote in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO, Tom Siebel, for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes (BKR). In 2023, short-selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms, including Oppenheimer and DA Davidson, have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," Dan Ives wrote in a note to clients Monday. stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex wrote in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO, Tom Siebel, for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes (BKR). In 2023, short-selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms, including Oppenheimer and DA Davidson, have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," Dan Ives wrote in a note to clients Monday. America's favorite office lunch spots are having a challenging summer Yahoo Finance's Brooke DiPalma reports: Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks fall at the open after latest inflation data shows rising producer prices US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. Wholesale inflation rises more than expected in July The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. September rate hold? Investors say it's (sort of) back on the table Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Trending tickers in premarket trading: Bullish, Deere, Cisco Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Bitcoin, ethereum trade near record highs as Wall Street grows bullish on crypto Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Stocks may be at all-time highs, but speculative froth isn't Yahoo Finance's Hamza Shaban reports: Read more here. Yahoo Finance's Hamza Shaban reports: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Amazon grocery push stocks still in focus When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: I don't hate this Cisco quarter Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Cisco (CSCO) is always a tricky play around its earnings report. The company isn't a fast grower, and what the Street focuses on tends to shift from quarter to quarter. Sometimes it's profit margins, sometimes it's product orders, sometimes it's the outlook. Going through the latest, I don't hate the quarter and outlook. Gross margins were up across the board, and the AI narrative and numbers were solid as well. There was some weakness in the security business, as expected, but the demand drivers out there suggest new full-year guidance could be conservative. "We think investors should look past Public Sector weakness, which likely hurt Security growth, given the opportunity around Hyperscaler/Enterprise AI, Neoclouds, and Sovereign could quickly offset the weakness. We continue to like Cisco for these drivers of growth, and when paired with a mix shift toward software/subscription over time, healthy free cash flow growth, and shareholder returns, we believe a premium to historical valuations is warranted," KeyBanc analyst Brandon Nispel said. I am live on Opening Bid today around 9:40 a.m. ET with Cisco's new CFO Mark Patterson. So we'll get to pull apart the numbers and guidance further! Bullish stock rises to $75 after IPO debut Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Yahoo Finance's breaking news reporter Jake Conley looks into the Bullish (BLSH) stock market debut. Cryptocurrency exchange operator Bullish (BLSH) rose 8% on Thursday before the bell, reaching $75, doubling its IPO price of $37 and valuing the company at more than $10 billion. Still, this marked around a 16% drop from where the stock opened for trade. Bullish stock opened for trade at $90 near 1:00 p.m. ET on Wednesday, and the stock traded hands as high as $118 per share shortly after, a more than 215% gain. The stock was halted for trade due to volatility at least twice within the first few minutes of trading. The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut. Bullish began its IPO processes looking for a price between $28 to $31 per share. At 30 million shares offered, the IPO price saw Bullish raise $1.1 billion and value the fintech company at $5.41 billion. Bullish first attempted to go public via a SPAC merger in 2021 that would have valued the company at $9 billion, but the deal fell through after regulatory scrutiny and Bullish withdrew its registration. Read more here Sign in to access your portfolio
Yahoo
15 minutes ago
- Yahoo
Everything You Need to Know About High-Yield Savings Accounts in August 2025
Let's face it: Most of us aren't saving enough. According to Federal Reserve Economic Data, the average American only manages to save 4.5% of their disposable income annually. With economic growth slowing and consumer prices going up, it's more important than ever to ensure your money is working harder for you. More News from Barchart Why This Cannabis Penny Stock Could Be Wall Street's Next Meme Trade Breakout Apple Stock Is Gaining Momentum, Is AAPL Stock a Buy? Peter Thiel-Backed Bullish Is About to IPO. Should You Buy BLSH Stock? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! That's where a high-yield savings account (HYSA) comes to the rescue. A HYSA leverages high interest rates to help you save more faster — which is perfect if you're looking to set up an emergency fund or have a specific savings goal in mind. Read on to find out what a HYSA is, the key benefits of high-yield accounts, and get some of the best HYSA deals in August 2025. What Is a High-Yield Savings Account? A high-yield savings account (HYSA) is a savings product that offers substantially higher interest rates than traditional savings accounts. High-yield accounts work a lot like traditional savings products. You can link existing checking accounts, make deposits, and withdraw your cash when you need it. But banks offer better annual percentage yield (APY) rates on HYSAs for a couple of reasons. The best high-yield account providers tend to be online-only challenger banks. They don't have physical branches, which means lower operating costs. To win business, those savings are then passed on to customers in the form of higher APYs. High-yield accounts also tend to offer variable rates. That means the rate you're shown when opening an account may fluctuate when the Federal Reserve changes its base borrowing rate. Rates can also shift in line with demand and each bank's respective growth strategy. You should also bear in mind that some high-yield accounts have access limits. For example, you might need to wait 1-2 working days to receive your funds after requesting a withdrawal. Many HYSA providers also impose monthly withdrawal limits. What Are the Benefits of High-Yield Savings Accounts? If you're debating whether to set up a HYSA, here's what makes high-yield accounts stand out: Higher Interest Rates The core benefit of a HYSA account is higher levels of compound interest. According to the Federal Deposit Insurance Corporation, the average savings account yield in July 2025 was 0.38%. By contrast, some of the best high-yield accounts are paying over 4.00% APY. That means you could earn up to seven times more on your deposit by placing it in a HYSA. Low (Or No) Fees Because many HYSA providers are online banks with few overheads, they can afford to drop monthly maintenance fees. That makes saving cheap and simple. Maintain Liquidity A HYSA is an easy way to accumulate interest without sacrificing liquidity. Unlike other high-interest savings products, the cash you deposit in a high-yield account is still accessible. Some online HYSAs take a couple working days to process withdrawals, but there's a growing range of accounts that offer instant 24/7 access. Low-Risk There's no such thing as a sure thing in markets. That's one reason savers turn to HYSAs. The FDIC insures all balances of up to $250,000. Even if your online bank goes bust, you're not going to lose your deposit. That level of safety, paired with relatively high interest rates, makes high-yield accounts an attractive alternative to investing. How to Open a High-Yield Savings Account? Opening a high-yield savings account is typically a fast and straightforward process. Here's how it works: 1. Pick Your Account Provider Start by shopping around. Create a shortlist of savings providers and products, then compare: APY Deposit requirements Account fees Access rules Stack these features against your savings goals and access requirements. Then, go for the account that looks like the best fit. Don't be afraid to get in touch with providers to let them know you're shopping around. They may pull out some extra incentives. 2. Apply Online After selecting the high-yield account you're after, it's time to apply. You'll need to have documentation handy to complete the application. This will include your: Full address Social Security Number Driver's license or passport Most HYSA applications are online-only. They take a few minutes to complete, and approval is often instant. 3. Fund Your Account After approval, you can immediately deposit money into your HYSA. The easiest way to do this is by making an external bank transfer from an existing checking account. Some high-yield account providers will also offer ACH options. After that, you can sit back, relax, and watch your savings build. Most HYSA providers compound interest and deposit interest payments on a monthly basis. Which High-Yield Savings Account Is Right for You? There are some attractive HYSA options available on the market in 2025. To help you get started, here are some top picks that have no monthly fees: Axos ONE® Savings: 4.46% APY with $1,500 minimum balance. Peak Bank Envision Savings: 4.35% APY with $100 minimum balance. EverBank Performance Savings: 4.30% APY with $0 minimum balance. Bread Savings: 4.25% APY with $100 minimum balance. Openbank High Yield Savings: 4.20% APY with $500 minimum balance. CIT Bank Platinum Savings: 4.00% APY with $5,000 minimum balance. Barclays Tiered Savings: 3.90% with $0 minimum balance. Remember: These are the tip of the iceberg. There are loads of HYSAs to choose from, and the best fit for you will depend on a few factors. Go for an account that offers a minimum balance you're comfortable with and accessibility rules that work for you. It's also important to look at fees. And if you'd like easy and regular contact with bank staff, you might need to trade in the highest possible APY that online-only banks offer. Popular Alternatives to High-Yield Savings Accounts Not sure if a HYSA is right for your savings strategy? Don't worry. There are several popular alternatives worth exploring: Certificates of Deposit (CDs) Certificates of Deposit (CDs) let you lock up your funds for a set term. This term can vary anywhere between three months and five years, and the rate is generally on par with a HYSA. Unlike a high-yield account, a CD's interest rate is fixed for the duration of your term. The catch: your deposit is inaccessible. Early withdrawals often lead to large fees or account closure. Money Market Accounts (MMAs) A money market account (MMA) essentially combines the features of a checking and savings account. MMAs offer debit cards and can make transactions like a checking account. They also offer higher APY than a traditional savings account. In exchange for added functionality, the APY on an MMA is normally lower than a HYSA or CD. Minimum balances and monthly maintenance fees are also common. Treasury Bonds Treasury Bonds are another easy way to put idle cash to work without shouldering much risk. As of August 2025, US Series I Savings Bonds (I Bonds) are posting an average rate of 4.24%. Returns are adjusted for inflation, which makes bonds a relatively safe investment. Just remember you can't cash in a bond for 12 months — and if you cash in before the five-year mark, you'll lose three months of interest. Start Saving Smart At the end of the day, a high-yield account is an easy way to generate high levels of interest on your savings. There's a wide range of HYSA products available that offer varying rates, deposit requirements, and access rules. So you should be able to find a solution that aligns with your savings strategy. But don't forget to shop around. And if a high-yield savings account doesn't quite work for you, be sure to check out alternatives like CDs or MMAs so you can start cashing in on higher interest rates. On the date of publication, Nash Riggins did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Boston Globe
16 minutes ago
- Boston Globe
California moving forward with partisan redistricting effort to counter Texas' move
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The Democrats' proposed maps still haven't been released. That's expected on Friday. Then, lawmakers plan to quickly approve them next week. Democrats hold supermajorities in both chambers. Advertisement Newsom, who is seen as a potential 2028 presidential candidate, urged Trump in a letter earlier this week to abandon his scheme, telling the president he is 'playing with fire' and 'risking the destabilization of our democracy.' The California map would only take effect if Texas and other states move forward with their own redistricting efforts, and they would remain through the 2030 elections. After that, Democrats say they would return mapmaking power to an independent redistricting commission approved by voters more than a decade ago. Advertisement There are 435 seats in the U.S. House and Republicans currently hold an 219-212 majority, with four vacancies. New maps are typically drawn once a decade after the census is conducted. Many states give legislators the power to draw maps but some, like California, rely on an independent commission that is supposed to be nonpartisan. The Thursday announcement marks the first time any state beyond Texas is officially wading into the mid-decade redistricting fight, kicking off a national standoff that could continue spilling into other states. California Democrats face more complex legal and logistical hurdles than Republicans do in Texas. It's not clear how voters would respond to the mid-decade effort after they voted to give the power of drawing congressional maps to an independent commission in 2010. In Texas, that power lies with the Republican-controlled Legislature. Some already said they would sue to block the effort, and influential voices including former California Gov. Arnold Schwarzenegger may campaign against it. 'Gavin Newsom's latest stunt has nothing to do with Californians and everything to do with consolidating radical Democrat power, silencing California voters, and propping up his pathetic 2028 presidential pipe dream,' National Republican Congressional Committee spokesperson Christian Martinez said in a statement. 'Newsom's made it clear: he'll shred California's Constitution and trample over democracy - running a cynical, self-serving playbook where Californians are an afterthought and power is the only priority.' California Democrats already hold 43 of the state's 52 House seats, and the state has some of the most competitive House seats. Advertisement Elsewhere, leaders from red Florida to blue New York are threatening to write their own new maps, bucking the standard once-a-decade redistricting process that happens after the census. But none have moved as far as Texas and, soon, California, in advancing new maps. Missouri lawmakers are waiting for Gov. Mike Kehoe to call a special session to draw more favorable Republican maps, and a document obtained by The Associated Press shows the state Senate has received a $46,000 invoice to activate six redistricting software licenses and provide training for up to 10 staff members.
