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Market News

Location American Market News for 25 August 2023
Bankruptcy 'Most Plausible' Outcome For Hawaiian Electric As Stock Slides And Allegations Over Maui Fire Grow, Wells Fargo Says Shares of Hawaiian Electric tanked 75% this month as credit rating downgrades and lawsuits piled up.
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Citigroup Stock Is Trading Below Its Intrinsic Value Citigroup's stock (NYSE: C) has lost 9% YTD, as compared to the 14% rise in the S&P500 over the same period.
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Markets Give Up Gains Despite Strong Nvidia Earnings Shares of Nvidia, which were the initial catalyst to the strong start Thursday, closed at just under $472, after having traded as high as $502.
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Stocks Close Higher After Bumpy Week

Wall Street Journal - 25 Aug 2023 22:34
A sharp rise Friday helped temper earlier losses, with only the Dow ending the week lower.
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Instacart Files for IPO, Shows Growing Profitability

Wall Street Journal - 25 Aug 2023 22:30
Instacart said it increased its profit during the first half of the year in documents filed ahead of the company's long-planned initial public offering.
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Roth-style catch-up contributions now won't be mandated until 2026, not 2024.
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Binance has stopped letting clients pay one another via sanctioned Russian banks, days after the Wall Street Journal detailed how the crypto giant was helping Russians move money abroad.
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What Is Dividend Investing?

Forbes - 25 Aug 2023 16:42
What Is Dividend Investing? Dividend investing involves investing in stocks, but with a particular focus on the regular distribution of a company's income to shareholders, known as a "dividend." Find out the benefits and risks of dividend investing...
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The DoJ Sues SpaceX For Alleged Discriminatory Hiring Practices - Meanwhile Space Investment Grows The Justice Department has filed a lawsuit against the company concerning its alleged refusal to hire anyone without U.S. citizenship or a green card.
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U.S. Tackles Crypto Tax Mess

Wall Street Journal - 25 Aug 2023 14:45
Long-delayed regulations would treat crypto platforms more like brokers who handle stocks and mutual funds.
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Should You Buy Medtronic Stock After A Q1 Beat? Sharpe is a measure of return per unit of risk, and high-performance portfolios can provide the best of both worlds.
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What's Next For Nvidia Stock After Blowout Q2 Technology companies and developers have been scrambling to deploy generative AI into their applications and this is driving a windfall of sorts for Nvidia, whose high...
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Coach and Michael Kors Tie-Up Shows Limits of Accessible Luxury

Wall Street Journal - 25 Aug 2023 13:00
Affordable luxury has been a slow-growth category, and its prospects don't look great either.
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Rising Insurance Costs Start to Hit Home Sales

Wall Street Journal - 25 Aug 2023 11:30
Buyers' concerns about insurance costs are slowing sales and causing some canceled deals in areas with particularly high flood or wildfire risks.
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Some investors say AI-themed shares have room to climb.
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Paying Extra for Medicare? See If You're Due a Refund

Wall Street Journal - 25 Aug 2023 11:30
The Medicare surcharge known as Irmaa can be a tough pill to swallow. But here's a little-known workaround: Older Americans who have been hit by the added cost have a chance to appeal.
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Watches Of Switzerland Plunges 26% On News Of Rolex-Bucherer Deal The FTSE 250 firm has sunk on news that Rolex plans to enter the retail market for the first time.
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Meituan shares fell 5% Friday after CEO Wang Xing warned of a food delivery slowdown in the third quarter during the firm's latest earnings call on Thursday.
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VinFast, the Vietnamese electric-vehicle maker, and Arm, a British chip designer, are caught in a weird limbo thanks to their decisions on where to list their shares.
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Gap reported mixed results on Thursday and underwhelming current-quarter guidance.
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The department store retailer stuck by its forecast for the full year, despite better-than-expected results.
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