Latest news with #SlatestoneWealth
Fox News
4 days ago
- Business
- Fox News
Business Rundown: NVIDIA Soars & China Trade Tensions Flare
Back-to-back court decisions resulted in uncertainty ahead of the Trump tariffs. As trade negotiations reportedly stall, the President, on social media Friday morning, called out China for 'totally violating' our trade agreement. A bright spot this week in the market has been NVIDIA, whose stock soared off reports its earnings beat expectations, showing immense growth potential. FOX Business anchor Taylor Riggs is joined by Slatestone Wealth chief market strategist Kenny Polcari to break it all down. Photo Credit: AP Learn more about your ad choices. Visit
Fox News
05-05-2025
- Business
- Fox News
Business Rundown: 'Cooler Heads' That Prevailed In The Market
Last week, the markets saw 9 straight days of gains, with the S&P 500 hitting its longest winning streak in two decades–all good news for investors who didn't flee the markets in the face of tariff fears. FOX Business co-anchor of The Big Money Show Taylor Riggs speaks with Slatestone Wealth Chief Market Strategist Kenny Polcari about the 'cooler heads' that invested despite uncertainty, the ongoing trade negotiations, and Warren Buffett stepping down from Berkshire Hathaway. Photo Credit: AP Learn more about your ad choices. Visit
Yahoo
07-04-2025
- Business
- Yahoo
Broadcom stock rises on $10B buyback plan
Shares of Broadcom (AVGO) rose in after-hours trading after the chip giant announced a share repurchase plan of up to $10 billion. Market Domination Anchor Julie Hyman and Slatestone Wealth chief market strategist Kenny Polcari, host of Trader Talk, discuss the breaking news in the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Broadcom has announced its authorized a new share repurchase program. It's up to $10 billion of its common stock through December 31st. According to the company, repurchases under that new program may be made through a variety of methods. Um, and so the shares are getting a little bit of a pop here in the after hours. Um, and this is, you know, it's not only this, um, share buyback authorization, it is also a message that it is sending to the market here. Um, that maybe things are falling enough that they are now attractive. All right, so what is about, can you pull it up? I don't know what's down on the year. What is what what's Broadcom for the year? But I think that's exactly the point, right? Is that the company is coming out saying this is a good use of our capital. We think this our stock is is now a value play, we're willing to commit our capital to it and look what's happening in the after hours, right? So here's what I'm going to tell you. It's a year to date, it's down. But I'm going to tell you from its high, which was back in mid-December, like so many stocks were, it is down 38% from the top. 38, think about that. 38%. So I agree. And this is where I just like we said to Mona. There are plenty of places to find, uh, very good quality stocks. No one's going to argue about Broadcom. Very good quality stocks that are now on sale. Yes. And so, do you think that we'll be having more companies like this that are coming out and making these sort of announcements potentially? I think potentially you're going to see that during earning season, right? Because that's usually when, if they're going to announce it, they'll announce it. Um, I don't know how far, uh, I don't know when Broadcom announces. I don't know if they're further down into the month, but, um, I think you're going to start to see more, especially some of these names that have been that have been really, really beaten up. Yeah, most definitely. Um, I actually want to take a look at some of the metrics that we look at on, um, Yahoo because I'm curious about the company's PE ratio, right? The the for the back backward PE, which is right here. I'm going to zoom into it a little bit. Um, it's 71. So that is still a relatively high, um, PE ratio here. But you can also look at the forward PE and see that it is, um, you know, it is a little bit, uh, more attractive. That is more like a 22 here. And so, if you're an investor and you're trying to figure out, okay, I'm looking at this large cap tech stock. Here's how much the stock is down. Here's what the PE is now versus where it was. You can see the 22 is down from where it was a year ago, closer to 25 if you're looking at the forward PE for a company like Broadcom. Right, right. And so therefore, it shows that, or it gives you a sense, uh, if you're looking for places to put some money, places, uh, take advantage of. Stocks that are representing not only better prices, but value. That's what you're going to look at. Sign in to access your portfolio
Fox News
07-04-2025
- Business
- Fox News
Business Rundown: 'Market Noise' Gets Louder As Wall Street Whipsaws
After the Trump tariff announcement sparked a two-day selloff in the markets last week, stocks continued to sink Monday morning. The Trump economic team is holding steadfast to their theory of the case, which is that these tariffs are a necessary reset to make the U.S. economy even stronger. FOX Business co-anchor of The Big Money Show Taylor Riggs speaks with Slatestone Wealth chief market analyst Kenny Polcari to break down the Wall Street 'noise' and volatility. Photo Credit: AP Learn more about your ad choices. Visit
Yahoo
11-03-2025
- Business
- Yahoo
Markets aren't happy, but US steel and aluminum makers don't totally hate Trump's new tariffs
President Trump's latest threat of 50% tariffs on Canadian steel and aluminum upended markets Tuesday, but his plan could be heartily welcomed by American manufacturers of those products. "We stand fully behind your leadership," nine US steel industry executives said in a recent letter to the president about a set of 25% duties on all steel and aluminum imports from all countries set to come into force tomorrow. Trump surprised markets on Tuesday by announcing that he would be imposing "an ADDITIONAL 25% Tariff, to 50%," on steel and aluminum from Canada on top of the previously announced 25% duties that start Wednesday. The president also elevated his war of words with Canada, suggesting he might "shut down the automobile manufacturing business in Canada" with tariffs coming in April, and then added in another post that the financial price Canada will pay will be "read about in History Books for many years to come!" Read more: What Trump's tariffs mean for the economy and your wallet Stocks quickly sold off Tuesday morning following Trump's posts but then almost as abruptly made up at least some of the lost ground. "It's more uncertainty, it's more chaos, he changes his mind on a whim," Slatestone Wealth chief market strategist Kenny Polcari said in a Yahoo Finance live appearance just after the latest news broke. But Tuesday morning's fresh round of agita belies a more nuanced view of Trump's 25% duties within the steel and aluminum industry after years of executives expressing concern about things like "steel dumping" from China. And there is now bipartisan ire about subsidized Chinese steel undercutting world markets, leading many CEOs in the sector to actively cheer on Trump's most protectionist impulses. Executives also have a familiar legal and political playbook for this week's steel and aluminum tariffs after Trump undertook similar actions during his first term — even though the duties do represent a mixed bag for some with closer economic ties to Canada. One example of the industry support for Trump has come in the form of the recent letter sent to the president from the heads of US Steel (X), Nucor (NUE), and Cleveland Cliffs (CLF), among others, touting the plan for 25% blanket duties. "We urge you to resist any requests for exceptions or exclusions and to continue standing strong on behalf of American steel," the letter said, according to a copy reviewed by Yahoo Finance. "We stand fully behind your leadership," it added. The letter also touted Trump's similar 2018 action on steel and aluminum that imposed 25% duties but mostly focused on China. The letter said it allowed American producers to reinvest and drive up capacity by nearly 80%. Some in the aluminum industry have also spoken favorably about Trump's plans, with White House aides also touting the support of the industry in remarks this week about why the duties would be going forward. But the reaction has been somewhat more mixed among some CEOs in a reflection of greater interrelationships between the US and Canada. Alcoa (AA) CEO William Oplinger recently said that his aluminum-manufacturing company would be hurt by the tariffs, given both increased prices and because of the company's extensive operations in Canada. "This is bad for the aluminum industry in the US," Oplinger said at a conference, adding that the bottom line is that 100,000 US jobs were at stake even before Trump's latest threat this week doubled the tariffs on Canadian aluminum. The final consumers of steel and aluminum products are also likely to be less enamored with Trump's move as evidence mounts that it could raise an array of prices. Domestic steel prices jumped in February when Trump announced his plan, with the price of a ton of domestic steel now nearly $1,000 a ton from around $700 previously. A recent Bloomberg report found that consumer products from aluminum baseball bats to stainless steel pans to fishing reels could see higher prices as a result. Still, the language from many of these pro-tariff executives is also very similar to Trump's own reasoning for his focus on steel and aluminum. Trump has described this week's action as a sort of unfinished business after he imposed 25% duties on steel and aluminum in his first term but with exceptions that, in his view, allowed cheap Chinese products to continue undercutting the market by moving through third-party countries. "It's 25% without exceptions or exemptions and that's all countries, no matter where it comes from," the president said when announcing his plan in February. Increased steel tariffs were also often advocated by then-President Biden, who talked about tripling them and told a Pittsburgh crowd in 2024 of China, "They're not competing. They're cheating." The bulk of this week's move is also being made using presidential tariff authority under Section 232 of the Trade Expansion Act of 1962, making it a formal continuation of the steel and aluminum tariffs that Trump launched during his first term. These "Section 232" tariffs are much more familiar to business leaders than the tariffs Trump has imposed so far using emergency authority derived from the International Emergency Economic Powers Act of 1977. Trump also announced Tuesday he would be declaring a national emergency on electricity in response to Canadian moves to impose an additional fee on US electricity consumers. Trump promised that "this will allow the US to quickly do what has to be done to alleviate this abusive threat from Canada." Ben Werschkul is Washington correspondent for Yahoo Finance. Every Friday, Yahoo Finance's Rick Newman and Ben Werschkul bring you a unique look at how US policy and government affects your bottom line on Capitol Gains. Watch or listen to Capitol Gains on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Sign in to access your portfolio
