Flexible morals: A key reason American voters support divisive misinformation
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New research from Rice Business and MIT Sloan finds that American voters hold opposing politicians to strict standards of factuality but support their favorite politicians as long as their statements express a “deeper truth” they support. The study suggests that partisan voters are both factually and morally flexible, allowing their favorite politicians to share misinformation that aligns with their grievances. The researchers conducted six online surveys of American voters, which showed that voters care more about truth when evaluating favored politicians but care more about facts when evaluating disfavored ones. The study highlights the importance of recognizing moral flexibility in political decision-making and behavior.
#AmericanVoters #Misinformation #MoralFlexibility #PoliticalDecisionmaking
https://finance.yahoo.com/news/flexible-morals-key-reason-american-110500071.html
Futures ease as bond yields stay elevated amid Middle East tensions
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U.S. stock index futures edged lower on Tuesday, weighed by elevated Treasury yields as investors remained wary of the conflict in the Middle East. The yield on the 10-year government bond last stood at 4.6468%. Several policymakers including Federal Reserve Chair Jerome Powell are slated to speak later in the day. San Francisco Fed President Mary Daly said there was "no urgency" to cut U.S. interest rates. Financial firms will be in the spotlight, with Bank of America, Morgan Stanley, and BNY Mellon scheduled to report their quarterly numbers before the opening bell. Tesla shed 2.1% in premarket trading after falling over 5% in the last session. At 5:38 a.m. ET, Dow e-minis were down 72 points, or 0.19%, S&P 500 e-minis were down 8.75 points, or 0.17%, and Nasdaq 100 e-minis were down 20.75 points, or 0.12%.
#StockMarket #BondYields #MiddleEastTensions #FederalReserve #BankOfAmerica #MorganStanley #BnyMellon #Tesla
https://finance.yahoo.com/news/futures-ease-bond-yields-stay-101332729.html
Morning Bid: Red hot retail readout drives US economy and dollar
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The red hot U.S. retail readout for March has underlined the sheer strength of the economic expansion there and is super-charging the dollar around the world. China's first-quarter GDP annual growth of 5.3% did surpass expectations but March industry and retail growth missed forecasts. The dollar's main index hit a five-month high on Tuesday and has now gained 4% in just six weeks. Monday's news of a surprise March U.S. retail sales surge saw economists revise up their first-quarter U.S. economic growth estimates to just under 3% annualised. With the International Monetary Fund's Spring meeting getting underway in Washington this week, Fed Chair Jerome Powell is due to speak on Tuesday - as is European Central Bank head Christine Lagarde and Bank of England governor Andrew Bailey. The IMF also releases its updated World Economic Outlook later on Tuesday and markets will keenly watch its forecasts for U.S. growth for this year and next. The upshot is a restive U.S. Treasury market, where 10-year Treasury yields hit 4.66% on Monday for the first time since November and held those gains today. With the first quarter U.S. corporate earnings season kicking into gear, stock market volatility is on the rise again too. The VIX 'fear index' hit its highest of the year on Tuesday too at 19.56 - coincidentally the average of the past 35 years since the index's inception. Bourses across Asia and Europe were down more than 1% on Tuesday too.
#UsEconomy #RetailSales #Dollar #EconomicGrowth #FederalReserve #InternationalMonetaryFund
https://finance.yahoo.com/news/morning-bid-red-hot-retail-100318414.html
Morning Bid: Red hot retail readout drives US economy and dollar
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The red hot U.S. retail readout for March has underlined the sheer strength of the economic expansion there and is super-charging the dollar around the world. China's first-quarter GDP annual growth of 5.3% did surpass expectations but March industry and retail growth missed forecasts. The dollar's main index hit a five-month high on Tuesday and has now gained 4% in just six weeks. Monday's news of a surprise March U.S. retail sales surge saw economists revise up their first-quarter U.S. economic growth estimates to just under 3% annualised. With the International Monetary Fund's Spring meeting getting underway in Washington this week, Fed Chair Jerome Powell is due to speak on Tuesday - as is European Central Bank head Christine Lagarde and Bank of England governor Andrew Bailey. The IMF also releases its updated World Economic Outlook later on Tuesday and markets will keenly watch its forecasts for U.S. growth for this year and next. The upshot is a restive U.S. Treasury market, where 10-year Treasury yields hit 4.66% on Monday for the first time since November and held those gains today. With the first quarter U.S. corporate earnings season kicking into gear, stock market volatility is on the rise again too. The VIX 'fear index' hit its highest of the year on Tuesday too at 19.56 - coincidentally the average of the past 35 years since the index's inception. Bourses across Asia and Europe were down more than 1% on Tuesday too.
#UsEconomy #RetailSales #Dollar #EconomicGrowth #FederalReserve #InternationalMonetaryFund
https://finance.yahoo.com/news/morning-bid-red-hot-retail-100318414.html
Dollar Heads for Best Run in Year in Bet on Fed Delaying Cuts
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The dollar is on track for its best rally in over a year as investors bet on the Federal Reserve delaying interest rate cuts. The Bloomberg Dollar Spot Index has climbed for a fifth day, reaching its highest level since November. The rally was sparked by strong US retail sales data and reduced expectations for Fed rate cuts following high US inflation data. Traders are now pricing in a start to easing in September and a reduction of 42 basis points by year-end. This view diverges from other major central banks, such as the European Central Bank, which has signaled rate cuts in June.
#Dollar #FederalReserve #InterestRateCuts
https://finance.yahoo.com/news/dollar-heads-best-run-bet-093106775.html
Equities sink, oil rallies on fears of Iran-Israel conflict
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Stock markets fell and oil prices climbed on growing fears of a wider war in the Middle East after Israel's army chief vowed a response to Iran's attack on his country. Israeli army chief General Herzi Halevi warned that Iran's attack would be met with a response. The selling came after Wall Street's three main indexes tanked in response to forecast-beating US retail sales data. Traders were also digesting figures showing Chinese expansion easily beat expectations in the first three months of the year but retail and industrial data came in well below par. Oil prices rose in Asian trade, having slipped Monday on hopes for a de-escalation following US calls for Israeli Prime Minister Benjamin Netanyahu to "take the win" and forgo a counterattack. Hong Kong, Seoul, Taipei, and Manila were all down more than two percent, while Tokyo shed 1.9 percent. Shanghai, Sydney, Singapore, and Jakarta sank more than one percent each. London, Paris, and Frankfurt were all down more than one percent at the open. Investors appeared to ignore figures showing China's economy grew 5.3 percent in the first three months of the year, well above the 4.6 percent predicted in an AFP survey of analysts. Other data reinforced worries about the outlook, with industrial production and retail sales coming in well below forecasts. The losses in Asia followed a big sell-off on Wall Street, which was dragged down by tech giants including Amazon, Apple, and Alphabet. That came after figures showed March retail sales beat expectations in yet another indication that the US economy remains strong despite two-decade-high interest rates. Investors are now betting on just two reductions this year, compared with six penciled in at the beginning of January.
#Equities #Oil #Iran #Israel #StockMarkets #MiddleEast #UsRetailSales #InterestRates #China #TechGiants
https://finance.yahoo.com/news/equities-sink-oil-rallies-fears-034100301.html
12 Best Dividend Stocks with High Upside Potential
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This article discusses 12 best dividend stocks with high upside potential. The current state of the US economy is uncertain with many analysts gravitating toward the idea of a recession occurring this year. Dividend stocks offer reliability in uncertain market conditions. In 2022, dividend stocks experienced a relatively minor drop compared to the overall decline of the S&P 500. Dividend-paying companies achieved an annual average return of 9.17% from 1973 to 2023, compared to 4.27% for non-dividend payers. Dividend stocks have historically outperformed non-dividend stocks during inflationary periods. In 2023, companies in the US distributed record amounts in dividends. The article provides a list of 12 dividend stocks with high upside potential, including Yum China Holdings, International Game Technology, British American Tobacco, Brookfield Renewable Partners, Big 5 Sporting Goods, Jack in the Box, and Iridium Communications. The stocks are ranked based on their projected upside potential and the number of hedge funds holding stakes in each firm.
#DividendStocks #UsEconomy #Recession #MarketConditions #S&p500 #Inflation #DividendForecast #YumChinaHoldings #InternationalGameTechnology #BritishAmericanTobacco #BrookfieldRenewablePartners #Big5SportingGoods #JackInTheBox #IridiumCommunications
https://finance.yahoo.com/news/12-best-dividend-stocks-high-070216512.html
Morning Bid: Market mood stays sombre
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Rising tensions in the Middle East and the return of a higher-for-longer narrative on U.S. rates have sapped risk appetite, sending Asian stocks tumbling, the dollar climbing to five-month highs and leaving the fragile yen stuck at levels last seen in the mid 1990s. UK labour and wage data will likely hog the spotlight as traders parse through the reports to gauge when the Bank of England will start its rate cutting cycle. Markets are pricing in August as the most likely start date for policy easing, with 49 basis points of cuts expected for the year. The Federal Reserve on the other hand is likely to be in no rush to start its easing cycle after March retail sales came in higher than expected, the latest evidence of a resilient U.S. economy. Markets are now pricing in less than two rate cuts this year compared with six rate cuts anticipated at the start of 2024. The starting point for the easing cycle is now September, pushed back from June, which was pushed back from March. Comments from Fed officials have also led traders to dial back their expectations with San Francisco Federal Reserve Bank President Mary Daly the latest to suggest the Fed is in no hurry to cut rates. The safe-haven flight to gold and dollars continued as the world awaits word on how Prime Minister Benjamin Netanyahu would respond to Iran's first-ever direct attack. The yen, often sought as a safe asset, weakened further to 34-year lows as the widening difference between U.S. and Japan rates weigh. China GDP handily beat estimates but weakness in March data kept investors worried about the country's economic recovery. China will also be at the forefront of the corporate world's mind as LVMH, the world's biggest luxury group, reports earnings, with investors bracing for a steep slowdown in luxury sales amid lacklustre Chinese demand. Key developments that could influence markets on Tuesday: Economic events: UK employment change for Feb, UK average weekly earnings for 3 months through Feb. Earnings: LVMH, UnitedHealth, Johnson & Johnson, Bank of America and Morgan Stanley.
#MarketMood #MiddleEastTensions #UsRates #BankOfEngland #FederalReserve #Gold #Dollars #ChinaGdp #Lvmh
https://finance.yahoo.com/news/morning-bid-market-mood-stays-043240912.html
Weedkiller manufacturer seeks lawmakers' help to squelch claims it failed to warn about cancer
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Chemical giant Bayer is lobbying lawmakers in Iowa, Missouri, and Idaho to pass bills that would provide it with a legal shield from lawsuits claiming its weedkiller Roundup causes cancer. The bills, which have been introduced in the three states and have wording supplied by Bayer, would protect pesticide companies from claims that they failed to warn about cancer risks if their labels complied with the US Environmental Protection Agency's regulations. Critics argue that the legislation could have broader consequences and extend to any product liability claim. About 167,000 lawsuits have been filed against Bayer claiming that Roundup causes non-Hodgkin's lymphoma, and the company has paid about $10 billion in settlements and trials.
#Bayer #Roundup #Weedkiller #Cancer #Lawsuits #Legislation #ProductLiability #UsEnvironmentalProtectionAgency
https://finance.yahoo.com/news/weedkiller-manufacturer-seeks-lawmakers-help-040849755.html
US Fed should not act urgently when it's not required, Daly says
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San Francisco Federal Reserve Bank President Mary Daly stated that there is no urgency to cut U.S. interest rates, as the economy and labor market are strong, and inflation is still above the Fed's 2% target. Daly made these remarks at the Stanford Institute for Economic Policy Research. The Fed is expected to hold its policy rate steady in the 5.25%-5.5% range until mid-September and then cut rates twice before year-end. However, higher-than-expected inflation in the first quarter and strong consumer spending and labor market conditions have raised doubts about the need to ease policy. Daly emphasized the importance of being confident that inflation is headed toward 2% before considering easing policy.
#UsFederalReserve #InterestRates #Inflation #Economy
https://finance.yahoo.com/news/us-fed-not-act-urgently-005422721.html
Saudi foreign minister arrives in Pakistan to discuss how to help with the country's economic crisis
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Saudi Arabia's foreign minister, Prince Faisal bin Farhan, led a high-level delegation on a two-day visit to Pakistan to discuss how to help with the country's economic crisis. The visit comes after Prime Minister Shehbaz Sharif met with Crown Prince Mohammed bin Salman in Saudi Arabia, where it was announced that Saudi Arabia would invest $5 billion in Pakistan. Last year, Saudi Arabia deposited $2 billion into Pakistan's central bank to boost its foreign exchange reserves. Pakistan is also in talks with the International Monetary Fund for a new bailout.
#SaudiArabia #Pakistan #EconomicCrisis #ForeignMinister #Investment #Bailout
https://finance.yahoo.com/news/saudi-foreign-minister-arrives-pakistan-153137517.html
US awards Samsung $6.4 billion in grants to boost Texas chip output
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The Biden administration will award up to $6.4 billion in grants to Samsung to expand its chip production in central Texas. The funding will support two chip production facilities, a research center, and a packaging facility in Taylor, Texas. It will also enable Samsung to expand its Austin, Texas, semiconductor facility. The goal is to boost chip output for the aerospace, defense, and auto industries, reduce reliance on China and Taiwan, and bolster national security. Samsung expects to begin production in 2026 and is expected to invest roughly $45 billion in building and expanding its Texas facilities through the end of the decade.
#UsChipProduction #Samsung #Grants #Texas
https://finance.yahoo.com/news/us-award-samsung-6-4-090115702.html
Stock market today: S&P 500 falls back under 5,100 as Big Tech leads stock slide
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US stocks flipped to sizable losses Monday as bond yields rose and investors focused on the fallout of Iran's attack on Israel and the continuation of corporate earnings season. The S&P 500 slid below back below the 5,100 level to close down 1.2%. Its two-day, 2.6% drop is the most significant in over a year. The Dow Jones Industrial Average lost 0.7%. The Nasdaq Composite fell 1.8% as Big Tech stocks led the declines. All three averages erased earlier session gains. The 10-year Treasury yield touched 2024 highs to hover around 4.63% as traders scaled back bets on the depth of Fed interest rate cuts this year. Stocks have come under pressure in recent days as earnings season got off to a lackluster start and concerns persisted that inflation has stalled in cooling to the Federal Reserve's 2% target. Earlier in the session, investors shrugged off initial concerns of a full-blown war in the Middle East after Iran's direct missile and drone strike on Israel on Saturday. Efforts by the US to encourage Israel not to retaliate appeared to help settle nerves, in part because the well-telegraphed attack allowed damage to be contained. Goldman Sachs highlighted the corporate earnings docket Monday, getting big banks back on track. Shares for the Wall Street lender added more than 3% after first quarter profit jumped to beat estimates. Meanwhile, Tesla shares fell over 5% after the electric vehicle maker reduced staff amid a broader EV growth slowdown.
#StockMarket #S&p500 #BigTech #BondYields #Iran'sAttackOnIsrael #CorporateEarningsSeason
Oil sheds 1% after Iran attack, US economic data
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Oil prices fell by about 1% a barrel after Iran's attack on Israel proved to be less damaging than anticipated. Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, while U.S. crude futures for May delivery fell 87 cents to $84.79 per barrel, also a 1% loss. Israel's interception of Iran's attack eased concerns of a quickly intensifying conflict that could displace crude barrels. Strong U.S. retail sales data from the Commerce Department also hindered oil prices by increasing the likelihood of higher interest rates and reducing demand for oil. Iran's statement that it considers its retaliation to be over further lowered the geopolitical temperature. The attack caused only modest damage, with missiles shot down by Israel's Iron Dome defense system. Middle East hostilities have had little tangible impact on oil supply so far.
#OilPrices #IranAttack #UsEconomicData
https://finance.yahoo.com/news/oil-prices-fall-iran-attack-010718741.html
ME Therapeutics Holdings Inc. Announces Ringing of CSE Opening Bell on April 17, 2024
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ME Therapeutics Holdings Inc., a preclinical stage biotechnology company, will ring the opening bell for the Canadian Securities Exchange on April 17, 2024. The company is focused on developing novel cancer fighting drugs in the field of immuno-oncology. The CEO, Salim Dhanji, stated that ringing the bell marks the next stage of growth for the company as they advance in the discovery and development of potential new drug candidates to fight cancer. ME Therapeutics aims to overcome the suppressive effects of myeloid cells, a class of immune cells, in order to enhance anti-cancer immunity.
#MeTherapeuticsHoldingsInc #Biotechnology #Cancer #Immunooncology #OpeningBell #CanadianSecuritiesExchange
https://finance.yahoo.com/news/therapeutics-holdings-inc-announces-ringing-151000118.html
Yacktman Focused Fund Adjusts Portfolio, Cuts Stake in Associated British Foods PLC
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Yacktman Focused Fund, known for its objective and patient investment approach, has disclosed its first-quarter portfolio for 2024. The Fund initiated a position in Kellanova Co, purchasing 300,000 shares. The Fund also increased its stake in Kenvue Inc, adding 216,255 shares. The Fund exited its position in Weatherford International PLC, selling off 350,000 shares. The Fund reduced its positions in Associated British Foods PLC and Brenntag SE. As of the first quarter of 2024, Yacktman Focused Fund's portfolio comprised 49 stocks, with top holdings including Samsung Electronics Co Ltd, Bollore SE, Canadian Natural Resources Ltd, Microsoft Corp, and Alphabet Inc. The investments are primarily concentrated across nine industries: Communication Services, Technology, Consumer Defensive, Energy, Industrials, Consumer Cyclical, Financial Services, Basic Materials, and Healthcare.
#YacktmanFocusedFund #AssociatedBritishFoodsPlc #InvestmentPortfolio #Stocks
https://finance.yahoo.com/news/yacktman-focused-fund-adjusts-portfolio-150155165.html
Top Wall St brokerages start Reddit coverage with doubts over user growth
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Top Wall Street brokerages, including Goldman Sachs, J.P.Morgan, and Morgan Stanley, have started coverage of Reddit with doubts over its user growth. Goldman Sachs and J.P.Morgan gave a 'neutral' rating with price targets of $40 and $47, respectively, while Morgan Stanley had an 'equal-weight' rating with a $45 price target. Reddit shares were last trading at $40.66. J.P.Morgan analysts estimate that Reddit's daily active unique users (DAUq) will reach 109 million by 2026, but this lags behind peers like Facebook and Elon Musk's X. The brokerages are bullish on Reddit's ad revenue and its use of artificial intelligence (AI) but believe the company needs to prove it can scale over time. Deutsche Bank, Raymond James, Needham, Piper Sandler, and Roth MKM were the most bullish on the stock, with Needham having the highest price target of $55. Reddit's popularity surged during the 'meme-stock' saga of 2021, but concerns have been raised about the company's profitability.
#Reddit #WallStreet #Brokerages #UserGrowth #AdRevenue #ArtificialIntelligence
https://finance.yahoo.com/news/wall-street-brokerages-start-reddit-113850943.html
Goldman Sachs stock jumps on better-than-expected Q1 earnings
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Shares of Goldman Sachs are trading higher on Monday following the company's first quarter earnings report, beating expectations on both the top and bottom lines. Revenue came in at $14.21 billion against analyst estimates of $12.98 billion. Additionally, the company's adjusted earnings per share (EPS) reached $11.58, surpassing the expected $8.81 per share. Goldman Sachs also reported a 28% year-over-year increase in net income for the quarter, further buoying the stock price.
#GoldmanSachs #Q1Earnings
https://finance.yahoo.com/video/goldman-sachs-stock-jumps-better-144650601.html
What’s Next for Oil? Analysts Weigh In After Iran’s Attack
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Oil futures were barely moved by Iran’s attack on Israel. Citigroup predicts oil prices could trade up to $100/bbl depending on the nature of events. Goldman Sachs estimates that oil prices already reflect a $5-to-$10-a-barrel risk premium from downside risks to supply. Societe Generale says the risk of direct military action between the US and Iran has risen to 15% probability. United Overseas Bank believes prices will climb toward $100 a barrel or higher if Iran’s crude production comes under threat. The International Crisis Group suggests that Israel may not have the option to not respond to Iran's attack. SVB Energy believes the market should maintain its balance if the recent attacks do not cause damage to oil production and export facilities. ING Groep says the market had already priced in some form of attack, and the key uncertainty is how Israel responds. RBC Capital Markets says the response from Israel will determine whether the situation leads to a wider war. The International Energy Agency warns of heightened oil security risks and increased volatility in oil markets. ANZ Banking Group believes any further escalation is unlikely given the well-telegraphed attack. Again Capital says the oil market can breathe a sigh of relief, at least for now. A/S Global Risk Management suggests that stricter sanctions on Iran are likely, but a closure of the Strait of Hormuz seems unlikely.
#Oil #Iran #Israel #CrudeOilPrices #GeopoliticalRisk
https://finance.yahoo.com/news/next-crude-oil-analysts-weigh-030858469.html
Analysis-Dollar's rally supercharged by diverging US rate outlook
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The U.S. dollar index is up 4.6% this year and stands near its highest levels since early November. Market participants grow convinced the Fed will need to leave interest rates at current levels for longer to avoid a potential resurgence of inflation. Investors late Friday were pricing in just 50 basis points of interest rate cuts in 2024, compared to 150 basis points priced in at the start of the year. Some global central banks could have a freer hand to ease monetary policy, including the European Central Bank, the Bank of Canada, and Sweden's Riksbank. Yield differentials between the U.S. and other economies have widened, contributing to the greenback’s rally. Bullish investors have increased their bets on the dollar, while bears have wavered. Central bank policy has diverged, reflecting economies' varying struggles to contain inflation. The dollar could continue appreciating broadly on the back of a more hawkish Fed relative to the ECB. A stronger dollar could complicate the inflation fight for other economies as it pushes down their currencies. Dollar strength can also be a headwind for U.S. multinationals as it makes it more expensive to convert their foreign profits into dollars. The U.S. currency is a popular destination for investors during times of geopolitical uncertainty. The dollar may receive a boost from the Fed allowing assets to run off its balance sheet. Some analysts believe the dollar has more room to run, while others are less certain.
#UsDollar #FederalReserve #InterestRates #Inflation #CentralBanks #MonetaryPolicy #YieldDifferentials #Investors #GeopoliticalUncertainty
https://finance.yahoo.com/news/analysis-dollars-rally-supercharged-diverging-050535065.html