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Yahoo
3 hours ago
- Business
- Yahoo
Posthaste: 'Buy Canadian' is going strong except in one very important marketplace
Canadians say they are buying more domestic goods and steering clear of the United States on their holidays, but there is one area where the 'Buy Canadian' movement appears to be falling short. Canadian investors have been snapping up U.S. stocks at an unprecedented pace since President Donald Trump took office in January, according to recently released data from Statistics Canada on international securities transactions. 'So what kind of U.S. assets are Canadians buying? You name it,' said National Bank of Canada economist Warren Lovely in a note on the data. Most of the buying has been in stocks, but Canadians have also added $20 billion in U.S.-issued debt in the latest four months, most of it in U.S. Treasury securities. 'In other words, Canadians have been helping to finance the deficit of the government that's repeatedly threatened our economic livelihood. Curious,' said Lovely. On Monday, Ontario Premier Doug Ford renewed his call to buy 'Canadian-made everything' to pressure the United States to negotiate a trade deal. 'We're encouraging all provinces and territories: start buying Canadian-made vehicles, start buying Canadian-made everything — that will hurt more than anything at all,' Ford told reporters at the premiers' meeting near Huntsville, Ont. The Bank of Canada's consumer survey out yesterday also showed that Canadians plan to keep up their boycott of U.S. travel and products. (See today's chart below). It's a boycott that apparently doesn't extend to the stock market where Canadians bought $14.2 billion in U.S. shares in May alone. Meanwhile, foreign investors are pulling back from Canadian equities. In May, non-residents cut their holdings of Canadian securities by $2.8 billion, the fourth straight month of divestment. Foreigners are still buying Canadian bonds, but stocks not so much. 'For the first time on record (back to 1988), the first five months of the calendar year produced no net foreign buying of Canadian portfolio assets,' said Lovely. May marked a turnaround for stocks on both sides of the border after three straight months of decline. America's S&P 500 rose 6.2 per cent from the end of April and Canada's TSX was up 5.4 per cent, said Statistics Canada. The S&P 500 has hit record highs, but so has the TSX, topping 27,000, a 9.3 per cent gain since the beginning of the year, said National. National Bank still advocates being overweight in Canadian stocks, and stands by its allocation of 21 per cent Canadian equities, 15 per cent U.S. stocks, and 3 per cent each to foreign equities and emerging markets. Fifty per cent fixed income and 8 per cent cash round out the portfolio. The outperforming sectors on the TSX this year have been materials, consumer discretionary and banks, they said. The laggards have been health care, energy, consumer staples and real estate. Though President Trump's threat to impose 35 per cent tariffs starting Aug. 1 is hanging over Canada, National economists say the outlook for the TSX is 'not entirely bleak.' A trade deal, which would be positive for the economy and corporate profits, is still possible before Ottawa tables its fall budget. The economists are also encouraged by what they call Make Canada Investable Again — Prime Minister Mark Carney's business agenda which includes efforts to reduce red tape and revive business investment. to get Posthaste delivered straight to your trade conflict between Canada and the United States continues to affect what Canadians buy and where they spend their vacations, the Bank of Canada's consumer survey revealed Monday. Half of consumers said they plan to cut their spending on U.S. goods and vacations south of the border. About 60 per cent say they plan to spend more on goods made in Canada and a third plan to spend more on vacations within their own country. 'I won't be going to the U.S. anytime soon. I don't feel good about spending my money there,' one respondent told the central bank. Price, however, still remains a key decider for many consumers, the survey said. Most Canadians said they would be willing to pay up to 10 per cent more for goods made in Canada. 'Ultimately, I'm going to do what works for my wallet. So, whether that's a Canadian brand, whether that's an American brand, I buy what works for my budget,' a survey participant said. Ontario Premier Doug Ford, Saskatchewan Premier Scott Moe and Alberta Premier Danielle Smith will sign a Memorandum of Understanding to build new energy and trade infrastructure at the premiers' meeting near Huntsville, Ont. Earnings: Canadian National Railway Co., General Motors Co., Coca-Cola Co., Halliburton Co., Lockheed Martin Corp., Equifax Inc., Baker Hughes Co., Capital One Financial Corp., Texas Instruments Inc. Canadian auto dealership chain on the hunt to buy competitors, dumps U.S. laggards Japan's bond market is flashing red. Here's why investors should pay attention Bank of Canada says inflation expectations easing as businesses hold off passing on tariff price hikes Millions of Canadians who want help managing their money seek out the services of a financial adviser. But the term itself refers to a wide variety of professionals with different specialties. And, depending on where you live in Canada, it can be used without specific qualifications, expertise or certifications. The Financial Post breaks down what a financial adviser can do, what credentials you can check for and how to find the right fit for you. Find out more Send us your summer job search stories Recently, we published a feature on the death of the summer job as student unemployment reaches crisis levels. We want to hear directly from Canadians aged 15-24 about their summer job search. Send us your story, in 50-100 words, and we'll publish the best submissions in an upcoming edition of the Financial Post. You can submit your story by email to fp_economy@ under the subject heading 'Summer job stories.' Please include your name, your age, the city and province where you reside, and a phone number to reach you. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Cracks widen in Canadians' record-breaking wealth creation Food manufacturers take drastic measures to fight U.S. tariffs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 hours ago
- Business
- Yahoo
Posthaste: 'Buy' Canadian is going strong except in one very important marketplace
Canadians say they are buying more domestic goods and steering clear of the United States on their holidays, but there is one area where the 'Buy Canadian' movement appears to be falling short. Canadian investors have been snapping up U.S. stocks at an unprecedented pace since President Donald Trump took office in January, according to recently released data from Statistics Canada on international securities transactions. 'So what kind of U.S. assets are Canadians buying? You name it,' said National Bank of Canada economist Warren Lovely in a note on the data. Most of the buying has been in stocks, but Canadians have also added $20 billion in U.S.-issued debt in the latest four months, most of it U.S. Treasury securities. 'In other words, Canadians have been helping to finance the deficit of the government that's repeatedly threatened our economic livelihood. Curious,' said Lovely. On Monday, Ontario Premier Doug Ford renewed his call to buy 'Canadian-made everything' to pressure the United States to negotiate a trade deal. 'We're encouraging all provinces and territories: start buying Canadian-made vehicles, start buying Canadian-made everything — that will hurt more than anything at all,' Ford told reporters at the premiers' meeting near Huntsville, Ont. The Bank of Canada's consumer survey out yesterday also showed that Canadians plan to keep up their boycott of U.S. travel and products. (See today's chart below). It's a boycott that apparently doesn't extend to the stock market where Canadians bought $14.2 billion in U.S. shares in May alone. Meanwhile, foreign investors are pulling back from Canadian equities. In May, non-residents cut their holdings of Canadian securities by $2.8 billion, the fourth straight month of divestment. Foreigners are still buying Canadian bonds, but stocks not so much. 'For the first time on record (back to 1988), the first five months of the calendar year produced no net foreign buying of Canadian portfolio assets,' said Lovely. May marked a turnaround for stocks on both sides of the border after three straight months of decline. America's S&P 500 rose 6.2 per cent from the end of April and Canada's TSX was up 5.4 per cent, said Statistics Canada. The S&P 500 has hit record highs, but so has the TSX, climbing to 27,000, a 9.3 per cent gain since the beginning of the year, said National. National Bank still advocates being overweight in Canadian stocks, and stands by its allocation of 21 per cent Canadian equities, 15 per cent U.S. stocks, and 3 per cent each to foreign equities and emerging markets. Fifty per cent fixed income and 8 per cent cash round out the portfolio. The outperforming sectors on the TSX this year have been materials, consumer discretionary and banks, they said. The laggards have been health care, energy, consumer staples and real estate. Though President Trump's threat to impose 35 per cent tariffs starting Aug. 1 is hanging over Canada, National economists say the outlook for the TSX is 'not entirely bleak.' A trade deal, which would be positive for the economy and corporate profits, is still possible before Ottawa tables its fall budget. The economists are also encouraged by what they call Make Canada Investable Again — Prime Minister Mark Carney's business agenda which includes efforts to reduce red tape and revive business investment. to get Posthaste delivered straight to your trade conflict between Canada and the United States continues to affect what Canadians buy and where they spend their vacations, the Bank of Canada's consumer survey revealed Monday. Half of consumers said they plan to cut their spending on U.S. goods and vacations south of the border. About 60 per cent say they plan to spend more on goods made in Canada and a third plan to spend more on vacations within their own country. 'I won't be going to the U.S. anytime soon. I don't feel good about spending my money there,' one respondent told the central bank. Price, however, still remains a key decider for many consumers, the survey said. Most Canadians said they would be willing to pay up to 10 per cent more for goods made in Canada. 'Ultimately, I'm going to do what works for my wallet. So, whether that's a Canadian brand, whether that's an American brand, I buy what works for my budget,' a survey participant said. Ontario Premier Doug Ford, Saskatchewan Premier Scott Moe and Alberta Premier Danielle Smith will sign a Memorandum of Understanding to build new energy and trade infrastructure at the premiers' meeting near Huntsville, Ont. Earnings: Canadian National Railway Co., General Motors Co., Coca-Cola Co., Halliburton Co., Lockheed Martin Corp., Equifax Inc., Baker Hughes Co., Capital One Financial Corp., Texas Instruments Inc. Canadian auto dealership chain on the hunt to buy competitors, dumps U.S. laggards Japan's bond market is flashing red. Here's why investors should pay attention Bank of Canada says inflation expectations easing as businesses hold off passing on tariff price hikes Millions of Canadians who want help managing their money seek out the services of a financial adviser. But the term itself refers to a wide variety of professionals with different specialties. And, depending on where you live in Canada, it can be used without specific qualifications, expertise or certifications. The Financial Post breaks down what a financial adviser can do, what credentials you can check for and how to find the right fit for you. Find out more Send us your summer job search stories Recently, we published a feature on the death of the summer job as student unemployment reaches crisis levels. We want to hear directly from Canadians aged 15-24 about their summer job search. Send us your story, in 50-100 words, and we'll publish the best submissions in an upcoming edition of the Financial Post. You can submit your story by email to fp_economy@ under the subject heading 'Summer job stories.' Please include your name, your age, the city and province where you reside, and a phone number to reach you. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Cracks widen in Canadians' record-breaking wealth creation Food manufacturers take drastic measures to fight U.S. tariffs
Bloomberg
16 hours ago
- Business
- Bloomberg
Bloomberg Daybreak: The Fed's Building Renovations
On today's podcast: 1) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington. 2) A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. 3) Japan's chief trade negotiator Ryosei Akazawa met with US Commerce Secretary Howard Lutnick on Monday as an Aug. 1 deadline for higher tariffs looms.
Washington Post
2 days ago
- Business
- Washington Post
Asian shares are mixed after Wall Street logs a 3rd straight winning week
BANGKOK — Asian shares are mixed and U.S. futures have edged higher after U.S. stocks logged their third straight winning week. Markets were closed for a holiday in Japan, where the ruling Liberal Democrats have lost their coalition majorities in both houses of parliament for the first time since 1955 following Sunday's election and the loss of their lower house majority in October.
Yahoo
5 days ago
- Business
- Yahoo
Stock market today: S&P 500, Nasdaq clinch records as US economy flashes strength, earnings roll in
US stocks notched new record highs on Thursday as Wall Street filtered through a fresh wave of earnings while keeping an eye on President Trump's campaign against Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average (^DJI) rose 0.5%, while the S&P 500 (^GSPC) gained about 0.7% to close at a fresh record just under the 6,300 mark. The tech-heavy Nasdaq Composite (^IXIC) climbed 0.7% to also clinch a fresh all-time high. The S&P 500 and Nasdaq continued a record-setting run as investors navigated a plethora of catalysts, including earnings, economic data, Trump's tariffs, and the president's displeasure with the Fed's stance on interest rates. Retail sales rebounded in June, an indication that Trump's tariffs are not significantly impacting consumer spending habits yet. The reading serves as another snapshot of the health of the US consumer, who big banks so far this earnings season say seem to be doing just "fine." Also out Thursday morning, data from the Department of Labor showed 221,000 initial jobless claims were filed in the week ending July 12. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. In earnings, TSMC (TSM) posted a record quarterly profit early on Thursday, citing stronger and stronger AI demand. The Nvidia supplier's shares popped as its results boosted other chipmaker stocks. Meanwhile, PepsiCo (PEP) reported a surprise rise in revenue and lowered its forecast drop in 2025 profit. Read more: Full earnings coverage in our live blog Netflix (NFLX) is the highlight of Thursday's docket, as it kicks off this season's Big Tech earnings reports with results due after the bell. The streaming giant's shares are on a tear so far this year. On the back burner for now are Trump's renewed threats to attempt to fire Powell, which sparked a stock sell-off at one point on Wednesday. While the president said he was "not planning" to do so, he has spent months excoriating Powell and the Fed's lack of appetite for interest rate cuts. Investor bets suggest Trump is likely to remain disappointed after the central bank's meeting in two weeks, as nearly 100% of traders expect a rate hold amid mixed signals on inflation. Read more: The latest on Trump's tariffs Netflix raises full-year guidance, on track to double ad revenue in 2025 Netflix (NFLX) shares were little changed in post-market trading after the streaming giant reported second quarter revenue in line with Wall Street expectations, and earnings narrowly beating estimates. Netflix's revenue was $11.08 billion for the quarter, just ahead of the $11.06 billion expected by analysts. Earnings per share (EPS) came in at $7.19, slightly better than the $7.08 Wall Street was looking for. The company raised its full-year guidance range to $44.8–$45.2 billion and said it is still on track to double its ad revenue in 2025. House sends stablecoin bill to Trump's desk, capping string of 'crypto week' victories Yahoo Finance's David Hollerith reports: Read more here. S&P 500, Nasdaq notch fresh records after strong economic data, earnings Stocks notched fresh record highs on Thursday as investors digested a wave of corporate earnings reports along with better-than-expected economic data. The Dow Jones Industrial Average (^DJI) gained more than 200 points while the S&P 500 (^GSPC) gained 0.5% to close at a new record. The Nasdaq Composite (^IXIC) inched up 0.7% to also notch a fresh all-time high close. Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the semiconductor index higher. PepsiCo (PEP) stock gained more than 6% after a better-than expected quarter. On the economic front, retail sales for June rebounded while jobless claims came in at their lowest level in three months. Larry Ellison tops Mark Zuckerberg as world's 2nd richest — here's the top 10 Yahoo Finance's Nina Moothedath reports: Here's the full list of the top 10 richest people in the world. Opendoor stock explodes higher as retail piles in, hedge funder sees potential 100x rally in 'next few years' Yahoo Finance's Jake Conley: Read more here. Nvidia and University of Bristol debut UK's fastest AI supercomputer in sovereign AI push Yahoo Finance's Dan Howley reports: Read more here. Crypto watchers eye possible vote on legislation in House Crypto investors were watching developments in Congress on Thursday as lawmakers debated key bills, including legislation that would create guardrails surrounding stablecoins, tokens backed by assets such as the US dollar. Shares of stablecoin issuer Circle (CRCL) rose during the session as the Genius Act was likely to be voted on during the afternoon session. Meanwhile, the Clarity Act, a regulatory framework for payment stablecoins and digital assets, was also up for debate. "This is a moment in time when the stars are aligned to pass these bills," said Pat Daugherty, partner at Foley & Lardner, who has commented to congressional staff and lawmakers on drafts of the legislation. Meanwhile bitcoin (BTC-USD), which touched all-time highs this week on increased inflows into spot ETFS and bullish momentum as the House debated crypto legislation, was little changed on Thursday. The token hovered above $118,500 per token. Mortgage rates move higher again Yahoo Finance's Shi Bradley reports: Read more here. The next Fed chair's dilemma: Maintain Fed independence while pleasing Trump Yahoo Finance's Jennifer Schonberger reports: Read more here. What the China export easing means for Nvidia, AMD, and other chips stocks Yahoo Finance's Francisco Velasquez reports: Read more here. Carlyle co-founder Rubenstein on Fed's Powell: He's done a very good job Yahoo Finance's Brian Sozzi reports: Read more here. Wall Street is coming to the Fed's defense Yahoo Finance's David Hollerith reports: Read more here. Lucid shares jump 30% on Uber deal Yahoo Finance's Pras Subramanian reports: Read more here. Jobless claims fall for 5th straight week Data from the Department of Labor out Thursday morning showed Americans filed 221,000 initial jobless claims in the week ending July 12. It marked the fifth straight week that applications for US unemployment benefits fell. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. Read more: What are jobless claims, and why do they matter? Continuing claims, or the total number of Americans collecting unemployment benefits, ticked up slightly to 1.96 million for the week ending July 5. The job market has continued to show resilience despite uncertainty fueled by President Trump's trade policies. In June, the US surprisingly added 147,000 jobs, more than the 106,000 expected by economists, while the unemployment rate ticked down to 4.1%. Investors have maintained their bets on Federal Reserve interest-rate cuts. As of Thursday morning, traders were pricing in a 54% chance the central bank cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Stocks open mostly flat as investors digest June retail sales, earnings reports Stocks were little changed at the market open as investors digested a better-than-expected increase in June retail sales and a wave of corporate earnings reports. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded flat, while the Nasdaq Composite (^IXIC) inched up slightly, by about 0.1%. On the earnings front, Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the stock 3% higher in early trading. PepsiCo (PEP) shares gained more than 6% after the beverage maker reported better-than-expected quarterly results. Trending tickers in premarket trading: TSMC, Opendoor, Pepsi, GE Aerospace, Netflix Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Retail sales rise more than expected in June Yahoo Finance's Josh Schafer reports: Read more here. Pepsi stock rises on better-than-expected earnings PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. TSMC stock pops 3% on record quarterly earnings Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Netflix earnings on deck: What Wall Street is watching Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. Netflix raises full-year guidance, on track to double ad revenue in 2025 Netflix (NFLX) shares were little changed in post-market trading after the streaming giant reported second quarter revenue in line with Wall Street expectations, and earnings narrowly beating estimates. Netflix's revenue was $11.08 billion for the quarter, just ahead of the $11.06 billion expected by analysts. Earnings per share (EPS) came in at $7.19, slightly better than the $7.08 Wall Street was looking for. The company raised its full-year guidance range to $44.8–$45.2 billion and said it is still on track to double its ad revenue in 2025. Netflix (NFLX) shares were little changed in post-market trading after the streaming giant reported second quarter revenue in line with Wall Street expectations, and earnings narrowly beating estimates. Netflix's revenue was $11.08 billion for the quarter, just ahead of the $11.06 billion expected by analysts. Earnings per share (EPS) came in at $7.19, slightly better than the $7.08 Wall Street was looking for. The company raised its full-year guidance range to $44.8–$45.2 billion and said it is still on track to double its ad revenue in 2025. House sends stablecoin bill to Trump's desk, capping string of 'crypto week' victories Yahoo Finance's David Hollerith reports: Read more here. Yahoo Finance's David Hollerith reports: Read more here. S&P 500, Nasdaq notch fresh records after strong economic data, earnings Stocks notched fresh record highs on Thursday as investors digested a wave of corporate earnings reports along with better-than-expected economic data. The Dow Jones Industrial Average (^DJI) gained more than 200 points while the S&P 500 (^GSPC) gained 0.5% to close at a new record. The Nasdaq Composite (^IXIC) inched up 0.7% to also notch a fresh all-time high close. Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the semiconductor index higher. PepsiCo (PEP) stock gained more than 6% after a better-than expected quarter. On the economic front, retail sales for June rebounded while jobless claims came in at their lowest level in three months. Stocks notched fresh record highs on Thursday as investors digested a wave of corporate earnings reports along with better-than-expected economic data. The Dow Jones Industrial Average (^DJI) gained more than 200 points while the S&P 500 (^GSPC) gained 0.5% to close at a new record. The Nasdaq Composite (^IXIC) inched up 0.7% to also notch a fresh all-time high close. Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the semiconductor index higher. PepsiCo (PEP) stock gained more than 6% after a better-than expected quarter. On the economic front, retail sales for June rebounded while jobless claims came in at their lowest level in three months. Larry Ellison tops Mark Zuckerberg as world's 2nd richest — here's the top 10 Yahoo Finance's Nina Moothedath reports: Here's the full list of the top 10 richest people in the world. Yahoo Finance's Nina Moothedath reports: Here's the full list of the top 10 richest people in the world. Opendoor stock explodes higher as retail piles in, hedge funder sees potential 100x rally in 'next few years' Yahoo Finance's Jake Conley: Read more here. Yahoo Finance's Jake Conley: Read more here. Nvidia and University of Bristol debut UK's fastest AI supercomputer in sovereign AI push Yahoo Finance's Dan Howley reports: Read more here. Yahoo Finance's Dan Howley reports: Read more here. Crypto watchers eye possible vote on legislation in House Crypto investors were watching developments in Congress on Thursday as lawmakers debated key bills, including legislation that would create guardrails surrounding stablecoins, tokens backed by assets such as the US dollar. Shares of stablecoin issuer Circle (CRCL) rose during the session as the Genius Act was likely to be voted on during the afternoon session. Meanwhile, the Clarity Act, a regulatory framework for payment stablecoins and digital assets, was also up for debate. "This is a moment in time when the stars are aligned to pass these bills," said Pat Daugherty, partner at Foley & Lardner, who has commented to congressional staff and lawmakers on drafts of the legislation. Meanwhile bitcoin (BTC-USD), which touched all-time highs this week on increased inflows into spot ETFS and bullish momentum as the House debated crypto legislation, was little changed on Thursday. The token hovered above $118,500 per token. Crypto investors were watching developments in Congress on Thursday as lawmakers debated key bills, including legislation that would create guardrails surrounding stablecoins, tokens backed by assets such as the US dollar. Shares of stablecoin issuer Circle (CRCL) rose during the session as the Genius Act was likely to be voted on during the afternoon session. Meanwhile, the Clarity Act, a regulatory framework for payment stablecoins and digital assets, was also up for debate. "This is a moment in time when the stars are aligned to pass these bills," said Pat Daugherty, partner at Foley & Lardner, who has commented to congressional staff and lawmakers on drafts of the legislation. Meanwhile bitcoin (BTC-USD), which touched all-time highs this week on increased inflows into spot ETFS and bullish momentum as the House debated crypto legislation, was little changed on Thursday. The token hovered above $118,500 per token. Mortgage rates move higher again Yahoo Finance's Shi Bradley reports: Read more here. Yahoo Finance's Shi Bradley reports: Read more here. The next Fed chair's dilemma: Maintain Fed independence while pleasing Trump Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. What the China export easing means for Nvidia, AMD, and other chips stocks Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Carlyle co-founder Rubenstein on Fed's Powell: He's done a very good job Yahoo Finance's Brian Sozzi reports: Read more here. Yahoo Finance's Brian Sozzi reports: Read more here. Wall Street is coming to the Fed's defense Yahoo Finance's David Hollerith reports: Read more here. Yahoo Finance's David Hollerith reports: Read more here. Lucid shares jump 30% on Uber deal Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Jobless claims fall for 5th straight week Data from the Department of Labor out Thursday morning showed Americans filed 221,000 initial jobless claims in the week ending July 12. It marked the fifth straight week that applications for US unemployment benefits fell. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. Read more: What are jobless claims, and why do they matter? Continuing claims, or the total number of Americans collecting unemployment benefits, ticked up slightly to 1.96 million for the week ending July 5. The job market has continued to show resilience despite uncertainty fueled by President Trump's trade policies. In June, the US surprisingly added 147,000 jobs, more than the 106,000 expected by economists, while the unemployment rate ticked down to 4.1%. Investors have maintained their bets on Federal Reserve interest-rate cuts. As of Thursday morning, traders were pricing in a 54% chance the central bank cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Data from the Department of Labor out Thursday morning showed Americans filed 221,000 initial jobless claims in the week ending July 12. It marked the fifth straight week that applications for US unemployment benefits fell. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. Read more: What are jobless claims, and why do they matter? Continuing claims, or the total number of Americans collecting unemployment benefits, ticked up slightly to 1.96 million for the week ending July 5. The job market has continued to show resilience despite uncertainty fueled by President Trump's trade policies. In June, the US surprisingly added 147,000 jobs, more than the 106,000 expected by economists, while the unemployment rate ticked down to 4.1%. Investors have maintained their bets on Federal Reserve interest-rate cuts. As of Thursday morning, traders were pricing in a 54% chance the central bank cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Stocks open mostly flat as investors digest June retail sales, earnings reports Stocks were little changed at the market open as investors digested a better-than-expected increase in June retail sales and a wave of corporate earnings reports. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded flat, while the Nasdaq Composite (^IXIC) inched up slightly, by about 0.1%. On the earnings front, Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the stock 3% higher in early trading. PepsiCo (PEP) shares gained more than 6% after the beverage maker reported better-than-expected quarterly results. Stocks were little changed at the market open as investors digested a better-than-expected increase in June retail sales and a wave of corporate earnings reports. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) traded flat, while the Nasdaq Composite (^IXIC) inched up slightly, by about 0.1%. On the earnings front, Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit, sending the stock 3% higher in early trading. PepsiCo (PEP) shares gained more than 6% after the beverage maker reported better-than-expected quarterly results. Trending tickers in premarket trading: TSMC, Opendoor, Pepsi, GE Aerospace, Netflix Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Retail sales rise more than expected in June Yahoo Finance's Josh Schafer reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. Pepsi stock rises on better-than-expected earnings PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. TSMC stock pops 3% on record quarterly earnings Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Netflix earnings on deck: What Wall Street is watching Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
