Goldman Sachs says the S&P 500 could hit 6,000 this year
Goldman Sachs (GS) raised it forecast for the S&P 500 by year-end as the U.S. economy shows increasing signs of resilience.
Nvidia's AI summit, Tesla's robotaxi, Amazon Prime Day, inflation: What to watch in the markets this week
Last week closed on a positive note, with two key developments easing concerns about the economy. A strong jobs report helped calm fears of a weakening labor market, while the resolution of the dockworkers’ strike alleviated worries about supply chain disruptions. In addition, oil prices, which had surged early in the week due to Middle East tensions, saw a welcome pullback by the weekend.
15 cars losing the most value on the used market right now
Considering the shambolic state of the American economy, inflation, and rampant wage stagnation, I love finding stories about affordable cars and prices dropping. In this case, the team at iSeeCars analyzed the listing prices of over 1.6 million one-to-five-year-old used cars listed for sale online between August 2023 and August 2024 to determine which cars have lost the most value on the used market.
Spirit Airlines stock plunges 28% because the end might be near
Spirit Airlines (SAVE) lost more than a quarter of its remaining value Friday — it’s down 28% after investors suspected it might file for bankruptcy soon. The Wall Street Journal reported Thursday that the company is in talks with bondholders about what a debt restructuring might look like.
The Dow jumps 200 points as hiring smashes expectations and the port strike ends
The Dow surged by more than 260 points following the release of strong job data and the end of the U.S. dockworkers’ strike, indicating a robust economy. According to the Bureau of Labor Statistics, 254,000 jobs were added in September; the unemployment rate dipped to 4.1%.
Nvidia stock rises after Jensen Huang says demand for its new AI chips is 'insane'
Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.
The Dow drops 200 points as inflation fears creep back in
The Dow Jones dropped nearly 200 points on Thursday morning following the release of the latest jobless claims data, which showed a slight uptick. In addition to the labor data, persistent tensions in the Middle East and an ongoing port strike have fueled fears of inflationary pressures.
A Southwest Airlines director bought $100 million in stock to fight activist investor Elliott
Southwest Airlines (LUV) just got a big endorsement of its turnaround plan — from the inside. Reuters reports that board of directors member Rakesh Gangwal, the founder of the Indian budget airline Indigo, purchased a $100 million block of shares of the company.
Costco customers stocked up on gold and silver bars. Now, the retailer's adding a third precious metal
Costco Wholesale (COST) is getting further into the precious metals business. While gold bars and silver coins have previously been top of mind for shoppers, the retailer is now adding a third precious metal: platinum.
Nike stock tumbles as investors worry about a turnaround
Nike’s (NKE) shares dropped 8% during early trading hours on Wednesday after the company withdrew its full-year guidance and postponed its investor day. The moves created uncertainty among investors on the company’s turnaround efforts under incoming CEO Elliott Hill, who takes over on October 14.