Good morning. Happy Friday.
The Asian/Pacific markets leaned to the upside. China, South Korea, India, Australia, Indonesia, Thailand and the Philippines did well; Japan and Taiwan were weak. Europe, Africa and the Middle East lean to the upside. The UK, France, the UAE, Finland, Switzerland, Norway and Hungary are leading. Futures in the States point towards a relatively big gap up open for the cash market.
————— VIDEO: State of the Market —————
The dollar is down slightly. Oil is down; copper is flat. Gold and silver are up. Bonds are up.
Stories/News from Seeking Alpha…
The five rings
The 2024 Paris Olympics are set to kick off today, with the opening ceremony taking place under a backdrop of heavy security. Tens of thousands of officers and soldiers have been deployed for the waterborne opening along the Seine, with a flotilla of boats scheduled to carry athletes representing 206 countries and territories. There have already been some security incidents ahead of the big show, with arson attacks disrupting France’s high-speed rail system and many train routes being canceled along the network.
Corporate angle: The Games will offer a big stage for U.S. companies associated with the Olympic Partner Program, like Airbnb (ABNB), Coca-Cola (KO), Intel (INTC), Procter & Gamble (PG) and Visa (V). The last time around, American sponsors shied away from the spotlight during the Beijing Winter Olympics in 2022, facing pressure over abuses related to China’s minority Uyghur population, along with other human rights issues and authoritarian control. The U.S. government even boycotted the event by barring diplomatic personnel, causing many firms to lie low in their Olympic-themed commercials.
There are big viewership opportunities, with billions of people estimated to tune in globally, creating a “catalyst for sports and sportswear and more awareness across a broad base of categories,” according to analysts at Bernstein. For the host country, it can also offer greater visibility for tourism and foreign investment, as well as a chance to get big-ticket infrastructure projects over the line, though more nations have been sitting things out. In fact, the IOC was left with just two bidders (Paris and Los Angeles) for the latest Olympics and ended up awarding slots to both cities in 2024 and 2028.
The economics: The price tag to host the Games has increased in recent years as more sports were added, requiring more new venues and related housing to accommodate athletes. White elephant stadiums have been seen in host cities, while many transportation and development upgrades have also soured, despite pledges to use existing facilities and avoid huge construction costs. “There has never been an Olympic Games that has made a profit,” noted Robert Barney, director of the International Center for Olympic Studies at the University of Western Ontario. “Fold in all the costs and revenues, including federal allotments, municipal allotments, provincial or state allotments, it’s always been that a debt has to be paid somewhere.”
Crypto friendly
Former President Donald Trump, who once called bitcoin (BTC-USD) a scam, is set to show his support for the crypto industry this weekend as he headlines the world’s largest bitcoin conference. Trump, as well as running mate J.D. Vance, have ramped up promises of lighter crypto regulation, as opposed to the Biden administration’s crackdown that has upset the industry. Their campaign has even raised over $4M through crypto donations so far. Crypto sentiment has improved in July, benefiting in part from the “Trump Trade,” with bitcoin up another 5% this morning to $67,200. (9 comments)
Gaining speed
U.S. GDP rose at an annualized rate of 2.8% in Q2, topping the +2.0% consensus estimate, and accelerating from Q1’s 1.4% growth. The new data highlighted a resilient consumer and solid economic growth, while reflecting more business spending in the face of worries. The initial GDP estimate also seemed to suggest that inflation is continuing to subside, but slowly. Investors will get confirmation of that today as the Fed’s favorite inflation gauge will provide a better picture of underlying price pressures and trends. (107 comments)
AI analysts
JPMorgan Chase (JPM) has reportedly given asset and wealth management staff access to an in-house generative AI product that can do work like one of their own. The ChatGPT-like large language model, called LLM Suite, can help employees with writing, idea generation and summarizing documents. “Think of LLM Suite as a research analyst that can offer information, solutions and advice on a topic,” JPMorgan said in an internal memo. CEO Jamie Dimon previously said the bank’s AI use may “reduce certain job categories or roles, but it may create others as well.” (6 comments)
Today’s Economic Calendar
08:30 AM Personal Income and Outlays
10:00 AM Consumer Sentiment
01:00 PM Baker Hughes Rig Count
What else is happening…
Barack, Michelle Obama endorse Kamala Harris for president.
Gig economy stocks rise after favorable ruling in California.
Southwest (LUV) ditches open seating model to lift earnings.
OpenAI starts testing AI-powered search; Alphabet (GOOG) slips.
Elon Musk will discuss xAI investment with Tesla (TSLA) board.
Denied: Johnson & Johnson’s (JNJ) talc bankruptcy appeal.
Lululemon (LULU) downgraded as athleisure falls out of favor.
Hollywood video game workers go on strike over AI concerns.
Kroger’s (KR) planned Albertsons (ACI) deal temporarily halted.
Cold-storage REIT Lineage (LINE) debuts in biggest 2024 IPO.
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Good morning. Happy Thursday.
The Asian/Pacific markets were mostly down. Japan, China, Hong Kong, South Korea, Australia, New Zealand, Singapore and the Philippines posted moderate or big losses. Europe, Africa and the Middle East are down big. Denmark, Poland, France, Germany, Greece, South Africa, Switzerland, Norway, Spain, the Netherlands, Italy, Portugal, Austria and Sweden are down the most. Futures in the States point towards a flat open for the cash market.
————— VIDEO: State of the Market —————
The dollar is down slightly. Oil and copper are down. Gold and silver are down. Bonds are up.
Stories/News from Seeking Alpha…
Look out below!
Stocks only go up. Until they don’t. The Nasdaq (COMP:IND) yesterday suffered its worst day of 2024, with the tech-heavy index sliding more than 3% for the first time in more than 400 trading days. The plunge wiped out hundreds of billions of dollars in market cap from the Magnificent Seven as concerns abound for Big Tech earnings that have propelled the broader market to record highs. A rotation has also made its way into investing sentiment in recent weeks, while other worries center around the broader economy.
Snapshot: The most immediate catalyst for the selloff was a moderate earnings report from Alphabet (GOOG GOOGL) and a disappointing earnings call from tech darling Tesla (TSLA). Spooking investors were shifting tones on the promise of artificial intelligence – for the time being – with Google not reporting any revolutionary profits from its new suite of products and Elon Musk continuing to kick his robotaxi vision down the road. The AI trade has helped support the rally since late 2022, but investors are increasingly demanding that hefty investments in the technology will produce a return, or something can at least be materially seen nearly two years after the release of ChatGPT.
Tech is not the only sector that’s experiencing a crisis of confidence as earnings season gets underway (see EVs and commercial real estate). On the macro scale, wage growth and the labor market are cooling, with the unemployment rate recently reaching 4.1% from 3.4% a year ago. U.S. GDP growth data will come later today, while the Fed’s favorite inflation gauge will be released tomorrow, providing more clues on the future of monetary policy and the interest rate environment (the next FOMC meeting takes place next week).
SA commentary: “Is this just a random dip, or the beginning of a deeper correction? For most investors, it really doesn’t matter, as long as the bull market eventually resumes,” writes SA analyst Damir Tokic. “Technically, the S&P500 is in the minor dip territory. What happens next depends on the fundamentals. Alphabet earnings don’t give us evidence of the bubble burst yet. We will have to wait for the Nvidia (NVDA) earnings in late August to get confirmation whether we are in the process of Gen AI bubble burst. In addition, the economic data will be important. If the disinflationary trend continues, while the labor market does not weaken further, the Fed could cut in September and this could provide some support to value stocks.”
No slam dunk
The drama around the next pro basketball media deal is taking its next steps, as the National Basketball Association rejected an attempt by Warner Bros. Discovery (WBD) to remain an incumbent by exercising matching rights. The NBA reached a $76B-plus package deal last week with ESPN (DIS), NBC (CMCSA) and Amazon (AMZN), leaving out multi-decade partners TNT and TBS, which are owned by WBD. The next moves may be legal, with the new media arrangement set to take effect in 2025. “We have matched the Amazon offer, as we have a contractual right to do, and do not believe the NBA can reject it,” TNT said in a statement. (105 comments)
Plea deal
Boeing (BA) has formally filed a guilty plea with the Department of Justice regarding making false representations about key software for the 737 Max linked to two fatal crashes in 2018 and 2019. The DOJ noted that Boeing neglected to ensure employees documented removing parts during airplane manufacture, and didn’t confirm if mechanics and inspectors actually completed work. “We will continue to work transparently with regulators as we take significant actions across Boeing to strengthen our safety, quality and compliance programs,” the planemaker declared. It will also pay a $243.6M fine as part of the agreement. (4 comments)
CRE stress
Property finance company Blackstone Mortgage Trust (BXMT) sank nearly 12% yesterday after it slashed its dividend by almost 25%, as higher interest rates and falling values drive more defaults in the commercial real estate sector. The reduced dividend “reflects a sustainable level relative to long-term earnings power,” said CEO Katie Keenan. In the spotlight is a call by short seller Carson Block from March, which noted that the property market’s troubles were likely in the “early innings.” He also forecast that multifamily real estate would follow offices in the most-troubled CRE sectors. (18 comments)
Today’s Economic Calendar
08:30 AM Durable Goods
08:30 AM GDP Q2
08:30 AM International Trade in Goods (Advance)
08:30 AM Initial Jobless Claims
08:30 AM Retail Inventories (Advance)
08:30 AM Wholesale Inventories (Advance)
10:30 AM EIA Natural Gas Report
11:00 AM Kansas City Fed Mfg Survey
01:00 PM Results of $44B, 7-Year Note Auction
04:30 PM Fed Balance Sheet
What else is happening…
Biggest IPO of the year: A temperature-controlled warehouse REIT.
Trump to deliver keynote speech at Bitcoin Conference in Nashville.
Ford (F) profitability skids on higher warranty costs, EV losses.
Chipotle (CMG) soars as restaurant margins improve; peers gain.
IBM (IBM) shares jump as results, guidance top expectations.
Biden says time for ‘new, fresh voices’ in Oval Office address.
China surprises markets again by cutting key policy loan rate.
Succession feud: Legal battle over Murdoch’s media empire.
AT&T (T) subscriber adds beat estimates, free cash flow swells.
Wells Fargo (WFC) set to pull name from Philly sports arena.
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Good morning. Happy Wednesday.
The Asian/Pacific markets were mostly down. Japan, China, Hong Kong South Korea, Malaysia and Indonesia posted moderate or big losses. New Zealand did well. Europe, Africa and the Middle East are currently weak. Portugal is up, but France, Germany, Greece, Finland, Hungary, Italy and Sweden are down. Futures in the States point towards a big gap down open for the cash market.
————— VIDEO: State of the Market —————
The dollar is down. Oil is up; copper is down. Gold and silver are up. Bonds are up.
Stories/News from Seeking Alpha…
Taking the lead
Aircraft makers are busy securing multiple plane orders at the Farnborough Airshow in the U.K., one of the biggest events for the aviation world, despite production and delivery delays as well as supply chain issues. The event, which began on Monday and ends on Friday, has seen 191 aircraft orders so far. According to trade organization ADS Group, day 1 of the airshow saw around $50.72B in deals signed.
Snapshot: Boeing (BA) bagged the most orders (118) as of the second day of the event, including 20 777-9s (yet to be certified) for Qatar Airways. The airline plans to enter these planes into service in Q1 2026. Korean Air also ordered at least 40 wide-body jetliners from Boeing. Rival Airbus (OTCPK:EADSF) secured 69 orders, including 20 A350-900s for Japan Airlines and 20 Airbus A330neo planes for Vietjet. Airbus also displayed its A321XLR, the world’s longest-range single-aisle plane.
Outlook: Planemakers have been facing supply chain headwinds, while Boeing continues to be the subject of scrutiny, given recent safety mishaps and quality concerns. However, Boeing’s management appeared to be more confident on the airshow’s first day, forecasting that production will improve in the second half of 2024 and it will end the year consistently producing 38 737 Max planes per month. However, Airbus management cautioned on ongoing plane component constraints.
Other updates: Embraer (ERJ), which did not sell commercial aircraft at the airshow yet, announced several developments for its E-Jet planes, including an automatic takeoff system for the E2 aircraft. GE Aerospace (GE) and Pratt & Whitney also secured orders for aircraft engines at the event.
More disappointment
Tesla (TSLA) slid 7.8% AH on Tuesday as its Q2 earnings, margins and cash flow fell short of expectations, and it forecast slower growth for the year. In the post-earnings call, Elon Musk said discounting in EVs has made it difficult for Tesla, but thinks it will only be a near-term issue. He added that Tesla is on track to deliver an affordable model in the first half of 2025, while the robotaxi event has been rescheduled to October 10. Tesla is also pausing its plans for a Gigafactory in Mexico, given the potential for tariffs if Donald Trump is elected. Separately, Musk fired off a poll on whether Tesla should invest $5B into xAI, with nearly 70% votes in favor of the move. (135 comments)
Margin warning
Alphabet shares – both GOOG and GOOGL – fell 2.2% AH on Tuesday despite the company’s better-than-expected Q2 results. While Alphabet’s cloud revenues topped estimates (and surpassed $10B for the first time) and core search returned to form, YouTube ads fell a bit short of consensus. In a call with analysts, CFO Ruth Porat said Q3 operating margins will reflect “higher levels of investment in technical infrastructure, as well as the increase in cost of revenues due to the pull-forward of hardware launches into Q3.” But Alphabet still continues to expect 2024 operating margin expansion relative to 2023. (50 comments)
Ether caution
All U.S.-listed exchange-traded funds tracking ether (ETH-USD) prices concluded their first trading session lower on Tuesday, as the crypto slipped and concerns surrounding net inflows remained. The nine spot ether ETFs saw net inflows of more than $106M, while their total trading volume amounted to around $1.05B, less than what spot bitcoin (BTC-USD) ETFs saw in their debut. Now that the funds are live, investors are focusing on whether the ether-holding ETFs can achieve net inflows comparable to those of their bitcoin counterparts, although skepticism remains prevalent. (3 comments)
Today’s Economic Calendar
07:00 AM MBA Mortgage Applications
09:45 AM PMI Composite Flash
10:00 AM New Home Sales
10:30 AM EIA Petroleum Inventories
11:00 AM Survey of Business Uncertainty
11:30 AM Results of $30B, 2-Year FRN Auction
01:00 PM Results of $70B, 5-Year Note Auction
What else is happening…
AI race: Meta (META) unveils largest version of Llama model.
91% favor reforms in public comments for marijuana rescheduling.
IT meltdown: CrowdStrike (CRWD) blames bug in content update.
Ike Perlmutter sells entire Disney (DIS) stake after proxy loss.
UPS (UPS) CEO: Steep labor cost attributed to ‘bathtub effect.’
Apple (AAPL) dabbles with foldable iPhone, eyes 2026 release.
Southwest Airlines (LUV) faces FAA audit over series of close calls.
Visa posts mixed results as payment volume growth slows slightly.
FTC seeks information from eight companies on surveillance pricing.
Pentagon IT services provider Leidos’ documents leaked by hackers.
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Good morning. Happy Tuesday.
The Asian/Pacific markets leaned to the upside. Taiwan, Australia, New Zealand, Malaysia, Singapore and the Philippines did well; China, Hong Kong and Thailand were weak. Europe, Africa and the Middle East are currently mixed. Denmark, Germany, Spain and Israel are up; Poland, Turkey, Finland and Saudi Arabia are down. Futures in the States point towards a down open for the cash market.
————— Leavitt Brothers Overview —————
The dollar is up. Oil and copper are down. Gold is up; silver is down. Bonds are up.
Stories/News from Seeking Alpha…
Conventional crypto
The cryptoverse will reach some new horizons today with the launch of spot ether ETFs following their approval by the SEC. Ethereum (ETH-USD) is trading higher before the funds hit the market, rising 1.3% to $3,520 in early trade. It was only six months ago that the first spot bitcoin ETFs came online and demand for those funds saw net cumulative inflows of more than $15.1B since they started trading on Jan. 11.
Backdrop: Ether is the native cryptocurrency of the Ethereum blockchain, which touts benefits such as smart contracts and customizable applications for DeFi. Spot ether ETFs will track the performance of the crypto as an underlying asset, making buying and reporting easier due to liquidity and transparency. The simple-to-understand product will also bring things more mainstream, and give institutional and retail investors another opportunity for crypto diversification. BlackRock CEO Larry Fink calls bitcoin ‘digital gold,’ says he’s no longer a skeptic
“The thing that people should keep in mind is that more money into crypto and blockchain is not a rising tide that lifts all boats,” said Paul Brody, Global Blockchain Leader at EY, citing similarities to the precious metals industry. “Gold is $14T-$15T in market cap. That is more than 10x larger than the next largest precious metal and I think we will see the same kind of behavior in cryptocurrency. Bitcoin is digital gold, and it will behave like digital gold, and it will be as dominant to other crypto assets as gold is to other precious metals. Similarly, ethereum has become the dominant kind of tokenized asset and smart contract platform.”
Note that the new ether ETFs won’t permit staking, which gives investors a source of revenue by earning a yield on token deposits. That could weigh on future demand, with the SEC likely not interested in adding complications or further deliberations about security classifications. There are also leveraged ether-linked ETFs on the market, such as the 2x Ether ETF (ETHU), though there are other risks to consider there, as mentioned by SA analyst Mike Fay.
Who’s next? OG players bitcoin (BTC-USD) and ethereum are more decentralized than other ecosystems – and benefit from bigger market caps and liquidity – but others are trying to break through. Late last month, VanEck became the first asset manager to file for a spot solana (SOL-USD) ETF in the U.S., while CBOE recently filed a request with the SEC to list ETFs tied to the cryptocurrency. It’s difficult to predict where American regulators will stand on the new applications, given the current regulatory environment. Unlike other regimes, like the Markets in Crypto-Assets (MiCA) infrastructure in Europe, things boil down to individual circumstances in the U.S., with lots of time, regulatory clarity, and amendments needed to approve any new applications. Check out the real-time market data page for crypto on Seeking Alpha
Deal collapse
Given mounting antitrust and investor concerns, cybersecurity startup Wiz has ended talks with Alphabet (GOOG, GOOGL) for a $23B deal that would’ve been the tech giant’s largest acquisition so far. Wiz will instead pursue an IPO, as previously planned, while the decision marks another blow for Alphabet in the M&A space after it shelved plans to buy HubSpot (HUBS). “Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice,” Wiz CEO Assaf Rappaport said in a reported memo. Alphabet will report Q2 results after the bell today amid lofty Wall Street expectations. (19 comments)
Pass the cookies
That’s not all. Google (GOOG) has finally decided to drop its plan of removing third-party cookies from its Chrome browser following years of delays, and will alternatively offer users the option to opt-out. “Instead of deprecating third-party cookies, we would introduce a new experience in Chrome that lets people make an informed choice that applies across their Web browsing, and they’d be able to adjust that choice at any time,” the tech giant said in a blog post. The U.K.’s antitrust watchdog welcomed the news, which sent ad-tech stocks higher on Monday, including Criteo (CRTO) +10.4% and Trade Desk (TTD) +4.6%.
Tell C-3PO
Tesla (TSLA) is driving higher at the start of the week as CEO Elon Musk talks up the potential of the Optimus business. “Tesla will have genuinely useful humanoid robots in low production for internal use next year and, hopefully, high production for other companies in 2026,” he announced, following a previous declaration to start selling the robots by the end of 2025. As for Q2 results due in the post-market today, there will be a sharper focus on Tesla’s strategic plan, as well as updates related to next-generation vehicles and how they fit into Musk’s robotaxi concept. (81 comments)
Today’s Economic Calendar
10:00 AM Existing Home Sales
10:00 AM Richmond Fed Mfg. Index
01:00 PM Results of $69B, 2-Year Note Auction
01:00 PM Money Supply
What else is happening…
WSB survey results: Minimal earnings season risks for S&P 500.
Nvidia (NVDA) said to be working on new AI chip for China.
Global outage: CrowdStrike (CRWD) slips on analyst downgrades.
Verizon (VZ) falls as mixed earnings raise growth concerns.
WBD (WBD) taps matching rights in attempt to stay on NBA deal.
Slow adoption: Porsche (OTCPK:POAHY) tones down EV goals.
AP: Enough Democratic delegates back Harris as nominee.
…but seen as tougher on energy industry than Biden.
Mattel (MAT) jumps on report of takeover bid from L Catterton.
Johnson Controls (JCI) to sell assets to Bosch in $8.1B deal.
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Good morning. Happy Monday. Hope you had a great weekend.
The Asian/Pacific markets were weak. Hong Kong did well, but Japan, China, South Korea, Taiwan, Australia and the Philippines were down moderately or big. Europe, Africa and the Middle East are mostly up. The UK, Denmark, Poland, France, Germany, Greece, South Africa, Finland, Switzerland, Spain, the Netherlands, Italy and Sweden are leading. Futures in the States point to a relatively big gap up open for the cash market.
————— Free Online Course: Mini Masterclass in Trading —————
The dollar is down. Oil and copper are down. Gold and silver are down. Bonds are up.
Stories/News from Seeking Alpha…
New ticket
Following overwhelming pressure from senior Democrats, President Biden has abandoned his re-election bid in a hefty announcement that many saw coming. He has endorsed Vice President Kamala Harris to be the party’s new presidential nominee, with a month to go before the DNC and only 100 days until the general election. State Democratic Party chairs have since thrown their weight behind her candidacy, though other prominent Democrats are calling for an open process to nominate a candidate (possible challengers?), while others will likely wait until she picks a running mate.
Timeline: Things have only spiraled for Biden since a halting performance at the June 27 presidential debate. A rebound in subsequent press conferences and interviews never materialized, with blunders like mixing up the names of Harris and Trump, as well as Ukraine’s Zelenskyy and Russia’s Putin, and referring to Secretary of Defense Lloyd Austin as “the Black man.” In contrast to Biden’s incoherent sentences, his chief rival has been making headlines for his perseverance, especially after an assassination attempt during a campaign rally in Pennsylvania, which led to iconic photographs of a bloody Trump holding up his fist in defiance.
Stock futures opened mildly higher after Biden formally passed the torch to Harris, with no significant policy uncertainty seen as extending from the latest announcement. She is a staunch defender of Biden’s economic approach, such as upgrading infrastructure (Infrastructure Investment and Jobs Act), subsidies for green projects (Inflation Reduction Act), and reshoring critical industries (CHIPS and Science Act), and is also largely expected to stick to his foreign policy playbook. Harris’ next interaction with the press will come today at 11:30 AM ET during an event on the South Lawn celebrating the NCAA championship teams.
What does it mean for markets? “At the moment, not much,” TS Lombard wrote in a fresh research note. “Polling before candidates start to run is notoriously wrong (DeSantis). Markets are priced for a Trump win and possible Republican sweep. Once the Dem Pres & VP are chosen, running, and impacting polls, will there be a market reaction (polls now undercount Dems). On economic policy, each side reflects a Jacksonian rather than Hamiltonian tilt. Yield curves do not have to wait for the Fed to turn steeply positive.” (10 comments)
Rate cut
The People’s Bank of China has become the latest central bank to cut interest rates, a move aimed at “strengthening counter-cyclical adjustments to better support the real economy.” China’s economy has been struggling of late, with the most recent GDP reading missing estimates and June retail sales rising at the slowest pace since December 2022. Over the weekend, the country also unveiled plans to boost finances of indebted local governments by shifting more tax revenue from central coffers, following the ruling Communist Party’s Third Plenum. (1 comment)
Marks the spot
Spot ethereum (ETH-USD) ETFs are expected to begin trading tomorrow, but crypto traders appear to be underestimating the full impact of the highly anticipated launch. Ether has risen some 49% this year amid a wider crypto rally, but its performance has been poor relative to its peers, according to SA analyst Richard Durant. While the SEC approved key requirements from prospective spot ETF issuers such as BlackRock (BLK) and VanEck, their S-1 filings are yet to be greenlit. If approved, crypto experts see ether rising over 25% and ETF inflows crossing $20B in the initial months. (12 comments)
Mideast watch
Middle East tensions are continuing to escalate, after Israel carried out airstrikes on a major Houthi-controlled port on Saturday, in retaliation to the group’s drone strike near the U.S. embassy in Tel Aviv. Israeli warplanes hit the port city Hodeida in Yemen, which Prime Minister Bibi Netanyahu said was used as an entry point for weapons supplied by Iran. The Houthis vowed to retaliate, while the U.S. reaffirmed its “ironclad commitment” to Israel’s right to self-defense. The latest attacks may also complicate an Israel-Hamas ceasefire deal that had been in the works, and will likely compound ongoing shipping disruptions in the Red Sea. (3 comments)
Today’s Economic Calendar
8:30 Chicago Fed National Activity Index
What else is happening…
‘Broad economic/societal impacts’ from CrowdStrike (CRWD) outage.
SA Asks: Which chipmakers could weather an attack on Taiwan?
U.S. ranks next to last for development of new critical mineral mines.
Unions representing Disneyland (DIS) workers vote to authorize strike.
Trump’s vow to ‘drill baby drill’: It may be more complicated for oil.
Activist Elliott Management takes ‘sizable’ stake in Starbucks (SBUX).
Boeing (BA) COO expects 737 production to ramp up in H2 of 2024.
FTC reportedly probing oil executives for signs of collusion with OPEC.
Nippon hires ex-Secretary of State Pompeo to lobby for U.S. Steel deal.
Earnings season! Get ready with the latest poll by Wall Street Breakfast.
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