Netflix saw a surge in its stock price in August, reaching a record high and surpassing the $700 mark. While the stock pulled back slightly in recent days, it closed at $701.35 on Friday and is up by 44% year-to-date. Despite facing stiff competition in the streaming sector and a slowdown in consumer spending, analysts
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In July, inflation in the United States showed a slight increase, based on the personal consumption expenditures price index favored by the Federal Reserve. The report indicated a 0.2% rise in prices for the month and a 2.5% increase from the previous year. Core PCE, which excludes food and energy prices, also saw a 0.2%
Salesforce, the business software maker, recently reported robust fiscal second-quarter results that surpassed estimates and led to a 4% increase in its shares during extended trading. The company’s earnings per share of $2.56 adjusted exceeded the expected $2.36, while its revenue of $9.33 billion outpaced the anticipated $9.23 billion. The revenue growth of 8% year
The recent drop in mortgage rates for the fourth consecutive week did not seem to generate much excitement among current homeowners or potential homebuyers. Despite the decrease in the average contract interest rate for 30-year fixed-rate mortgages, the overall mortgage application volume only increased by a mere 0.5%. It appears that the lower rates did
Former President Donald Trump’s economic proposals have been the subject of intense scrutiny, with a recent study from the Penn Wharton Budget Model revealing that his policies would lead to a significant increase in federal deficits. Trump’s plan to extend the 2017 tax cuts permanently alone would add over $4 trillion to the deficits over
Amazon aggregators Branded and Heyday have announced their plans to merge, marking a significant development in the ever-evolving e-commerce industry. The merger will result in the formation of a new entity called Essor, which signifies “take flight” in French. This new organization aims to elevate brands to new heights through its platform, according to Heyday
Kamala Harris’ campaign announced an astounding $40 million in donations following her speech at the Democratic National Convention. This significant windfall brings the total amount raised for Harris’ election efforts to an impressive $540 million since President Joe Biden’s withdrawal from the race in July. The campaign emphasized the influx of first-time contributors, with a
Boeing made a surprising announcement recently that their Starliner capsule will be returning from the International Space Station (ISS) without the NASA astronauts that it delivered in early June. This unexpected decision has now led NASA to make arrangements for astronauts Butch Wilmore and Suni Williams to return via SpaceX’s Dragon spacecraft, which is scheduled
Chinese electric vehicle manufacturers have been finding ways to expand their market reach beyond their homeland. Mexico has become a prime target for Chinese EVs, with affordable price tags winning over even skeptical customers. For instance, Tesla rival BYD sells its Dolphin Mini in Mexico for around $21,300, a much lower price compared to the
Philadelphia Federal Reserve President Patrick Harker has provided a strong endorsement for an interest rate cut in September. Speaking at the Fed’s annual retreat in Jackson Hole, Harker expressed confidence in the need for monetary policy easing. He emphasized the importance of starting the process of moving rates down in September and advocated for a