Business

Business11/16/2024

Market Impact: Vaccine Stocks Tumble Following Trump's RFK Jr. HHS Nomination

Pharmaceutical stocks experienced significant declines after President-elect Trump named Robert F. Kennedy Jr. as his choice to lead the Department of Health and Human Services. Major vaccine manufacturers including Pfizer, Moderna, and European counterparts saw their shares drop as markets responded to the appointment of Kennedy, known for his critical stance on vaccines and pharmaceutical industry practices.

Jonathan Reed

Business11/16/2024

US Government Grants TSMC Arizona $11 Billion Package to Boost Domestic Semiconductor Production

The Biden administration has awarded TSMC Arizona $11.6 billion through the CHIPS and Science Act to enhance domestic chip manufacturing capabilities. The funding package includes $6.6 billion in direct funding and $5 billion in loans, supporting TSMC's planned $65 billion investment in three Arizona facilities.

Jonathan Reed

Business11/16/2024

Cisco's AI Strategy Could Drive Growth Revival Despite Mixed Results

Cisco Systems is positioning itself to leverage artificial intelligence opportunities despite reporting mixed financial results. While revenue and earnings show declining trends, the company's strong product orders and strategic moves into AI infrastructure signal potential growth ahead.

Jonathan Reed

Business11/16/2024

Major Wall Street Indices Record Significant Decline on Nov. 15

Wall Street experienced its steepest decline since Election Day as market enthusiasm from Trump's victory and Fed rate cuts diminished.

Jonathan Reed

Business11/15/2024

Housing Market Experts Weigh In: What a Second Trump Term Could Mean for Real Estate

Former President Trump has pledged to address housing affordability by opening federal land for construction and cutting regulations. However, experts warn that some of his proposed policies, including mass deportation and import tariffs, could actually increase housing costs and slow construction.

Jonathan Reed

Business11/15/2024

Wall Street bonuses expected to surge up to 35% in year-end payouts

Following a three-year slump, Wall Street is preparing to distribute substantially larger year-end bonuses, with some sectors seeing increases of up to 35%. The surge marks the first industry-wide bonus growth since 2021, though the increases will vary significantly across different financial sectors.

Jonathan Reed

Business11/15/2024

Home Depot Q3 Earnings Analysis: Sales Up 6.6% Despite Market Challenges

Home Depot reported Q3 fiscal 2024 earnings with sales reaching $40.2 billion, marking a 6.6% increase year-over-year. The world's largest home improvement retailer maintained steady operating performance despite macroeconomic headwinds, while forecasting continued growth for fiscal 2024.

Jonathan Reed

Business11/15/2024

Market Rally Cools as Post-Election Momentum Shows Signs of Fatigue

Wall Street experienced a downturn as the post-election market surge began to moderate. Major indices retreated from recent highs, with several sectors that had previously benefited from the election results leading the decline.

Jonathan Reed

Business11/15/2024

dYdX Community Endorses Revolutionary Revenue Sharing Initiative

The dYdX community has approved a significant proposal that will distribute 50% of protocol revenue to MegaVault and 10% to Treasury SubDAO, marking a major shift in the platform's economic model.

Jonathan Reed

Business11/15/2024

Ondo Finance Launches Round-the-Clock PayPal USD and OUSG Token Conversions

Ondo Finance introduces seamless 24/7 conversions between PayPal USD stablecoin and tokenized treasury funds, marking a significant advancement in digital asset management.

Jonathan Reed