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Market News

Location American Market News for 9 June 2023

You Scored With an Online Sports Bet. Do You Owe Taxes?

Wall Street Journal - 9 Jun 2023 11:30
With the explosion of betting apps in recent years, millions of gamblers have racked up taxable winnings. Their losses, on the other hand, may not be doing them any favors.
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Making Turkey Market-Friendly Again Comes With Dangers Too

Wall Street Journal - 9 Jun 2023 14:02
A return to economic orthodoxy under a new central-bank governor could mean letting the currency fall much lower, at the risk of a new inflationary spiral.
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Specialty-Chemicals Maker Chase Corp. Seeks Sale

Wall Street Journal - 9 Jun 2023 23:02
Pritzker Private Capital and others have submitted bids.
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Bear Market Is Over--BofA Declares--But These Are The Warning Signs Others Are Watching JPMorgan's head of fixed income strategy ominously cautions the recent rally gives him flashbacks to 2008.
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Manufacturing's Rebirth In America: A Chance To Embrace Fair Wages Manufacturing has been returning to these shores for a number of years now, but the pace at which new factories are going up now is a wonderful surprise.
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Tesla Has Won the EV-Charger Wars

Wall Street Journal - 9 Jun 2023 16:45
GM's decision to follow Ford in joining Tesla's network paves the way for a single, open U.S. electric-vehicle charging standard.
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Tesla Mints $205 Billion Rally After Ford And GM Charger Partnerships--Here's How Much More The Stock Could Surge Tesla's latest announcements could help net the firm another $3 billion in annual revenue, one analyst estimates.
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SEC Crypto Action Leaves Stablecoins in Limbo

Wall Street Journal - 9 Jun 2023 15:51
Authorities have still not made clear when stablecoins are considered securities or how they will be regulated.
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The US Government Avoided Default, But Many Companies May Not Be So Lucky Bankruptcy filings by Diebold Nixdorf, Wesco Aircraft Holdings, and GenesisCare made headlines but the number of companies defaulting will likely grow going forward.
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The Chinese Tourism Tsunami Is Late

Wall Street Journal - 9 Jun 2023 14:55
Chinese travelers used to be the top tourism revenue source globally. Half a year after China's reopening, most of that spending remains trapped at home.
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Wildfires Rage In Canada, Turning US Skies Orange - Air Quality Stocks See Modest Gains Air purifying stocks have performed well this week off the back of the chaos, with the air quality set to be an issue running into the weekend.
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Down 85% From Its Highs, What Ails XPeng Stock? XPeng stock continues to underperform this year, declining by about 16% year-to-date.
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Is JCI A Better Pick Over Honeywell Stock?

Forbes - 9 Jun 2023 13:00
Is JCI A Better Pick Over Honeywell Stock? There is more to the comparison, and in the sections below, we discuss why we believe that JCI will offer better returns than HON in the next three years.
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Bank Of America Stock Is Trading Below Its Intrinsic Value Bank of America's stock (NYSE: BAC) is down 11% YTD as compared to the 11% rise in the S&P500 index over the same period.
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Car manufacturers' new selling strategies, including nonnegotiable pricing and over-the-air updates, promise a better experience for the consumer, but at a cost.
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Hafize Gaye Erkan's appointment represents a possible return to more-orthodox economic policies.
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In DocuSign's fiscal quarter ended April 30, revenue jumped 12% year-over-year to $661.4 million, beating analyst estimates of $642 million.
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Planet, a satellite-imagery and data-analysis company, lowered its annual revenue guidance after reporting first-quarter results Thursday.
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