Recent earnings reports raise concerns about AI investments and consumer spending, causing a dip in tech stocks and interrupting a stock market rally.
Investors
Rivian Beats Wall Street’s Estimates Despite Losses and Cost-Cutting Focus
Despite ongoing losses of over $1 billion, Rivian Automotive exceeded Wall Street's revenue and earnings estimates for Q2 2024 through cost-cutting measures.
US Tech Giants Suffer $1 Trillion Wipeout Following Massive Market Decline
Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
Elon Musk Slams Fed's Inaction on Rate Cuts, Calls Them 'Foolish'
Elon Musk criticized the Federal Reserve's decision not to cut interest rates, calling it "foolish" and warning that the policy could harm the US, which could potentially stall economic growth.
Berkshire Hathaway Sells Half of Its Apple Shares, Increasing Cash to Record $277 Billion
Apple's stock stake has been reduced by Berkshire Hathaway, which has boosted its cash reserves to a record-high ($277 Billion) as a cautious approach against US economy concerns.
Latest News
The self-driving car units are now in service in Metro Phoenix, San Francisco, Los Angeles, and Austin.
The new round of monthly payments will be sent out to eligible retirees born on or after the 21st of a month.
To compensate for the lost value, payments would need to increase to more than $4,400 a year. Read more here.
Previous election seasons saw the S&P 500 slump and the Dow Jones Industrial Average trade below 11,000.
Silicon Valley tech billionaires are backing Donald Trump through donations to America PAC, driven more by economic concerns over Biden's airtight antitrust policies than political alignment.
Chinese carbon bicycle technology manufacturer XDS confirmed Monday (July 15) that it will invest in the professional cycling team Astana Qazaqstan.
Donald Trump’s assassination attempt during a campaign rally in Pennsylvania gained a positive market reaction and heightened investor confidence in his reelection prospects.
Justin Bieber earned $10 million for a private performance at an Ambani-Merchant's pre-wedding party in India.
JPMorgan Chase is reportedly striving to amass 15% of US consumer deposits and expand its credit card share.
