A
    Angel Smith

    Angel Smith

  • Homebuyers are 'drunk' on rate cut hopes: Broker

    With mortgage rates still high, many prospective homebuyers are waiting on the sidelines until rates come down. The impact of these higher rates is evident in the housing market data, as housing starts fell 14.7% in March from February, marking a 4.3% year-over-year decline. Douglas Elliman Licensed Real Estate Salesperson Timothy Malone and Compass NYC Real Estate Broker Mickey Conlon joins Wealth! to discuss the current state of the housing market. Malone explains that with mortgage rates so high, the current buyers in the market are those who "need to buy right now," while everyone else is waiting on the sidelines. He advised buyers to "negotiate the sales price," as the sellers who "need to sell right now are very negotiable." However, Malone cautions against waiting, as rates drop and demand increases, it will become more challenging to find a home. Conlon acknowledges the pent-up demand in the market, noting that buyers will eventually make moves due to life changes or financial pressures. He observes that buyers have slowly started returning to the market, buoyed by the prospect of the Federal Reserve's proposed rate cuts, which "has helped to get us over the hump" of housing market stagnation. However, Conlon warns that the possibility of no rate cuts "is real." He emphasizes that while current rates are not historically bad for the housing market, buyers have become "drunk" on the low-rate scenario. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

  • Why portfolio diversification is a must for investors

    While Consumer Confidence data for March came in lower than expected, markets showed little to no reaction. Morningstar Portfolio Strategist Amy Arnott joins Yahoo Finance Live to discuss why this underscores the importance of diversified portfolios. Arnott describes the lower-than-expected consumer confidence as "a little blip," emphasizing that the economy remains strong despite these numbers. She advises investors to "focus on the long term," saying the main concern should be inflation, which she calls a "big question mark" as rate cut uncertainty heightens. She notes that if rate cuts don't materialize, they will "weigh down" the market, which is why she advises investors to focus on "portfolio diversification." Arnott explains that which asset class will outperform "in any given year" is unknown, making portfolio diversification crucial. For that reason, she recommends avoiding being "overexposed" in areas like technology and broadening out to sectors such as small-caps. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Consumers have 'ability to spend' but remain mindful of prices

    The February Retail Sales report came in hotter-than-expected, revealing a rebound in consumer spending trends. Mastercard Economics Institute Chief US Economist Michelle Meyer joins Yahoo Finance Live to discuss what this means for the consumer. Meyer notes that the February retail sales showed a "return to trend-like expansion" with characteristics that were seen before the holiday season. She highlights the consumer as being "empowered in this environment," as easing prices across many categories are falling and giving consumers "real purchasing power." Meyer points out the "consistency of the story" with outperformance in online spending and "experience-based" spending. She notes that this shows "consumers have the ability to spend;" however, they are being mindful of prices and prioritizing their spending. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • January CPI is throwing 'monkey wrench' into rate cut hopes

    January's hotter-than-expected inflation data has upended market expectations according to NYSE Senior Market Strategist Michael Reinking, who told Yahoo Finance's Madison Mills that "economic data would be the cause of volatility." From the floor of the New York Stock Exchange, Reinking says January's Consumer Price Index (CPI) print "throws... a monkey wrench" into assumptions that the Federal Reserve's tightening cycle was near its end with interest rate cuts on the horizon. Now, the odds of initial rate cuts have been pushed back to May. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Strategies the company behind Chili's is using to woo customers

    Brinker International (EAT) the company that owns Chili's, Maggiano's Little Italy, and It's Just Wings, posted mixed second quarter results, with earnings topping estimates and revenue about in-line expectations. Brinker International CEO Kevin Hochman joined Yahoo Finance Live to discuss the results and adapting to a value-focused consumer. Hochman says the company is getting "mixed signals" on spending habits, with some guests trading up while others are sticking to budget options. Hochman explains how the company uses pictures on the menu to nudge certain purchases. However, when picturing wings drove guests to "trade down" from pricier entrees, they pivoted. Per Hochman, with "value-sensitive" consumers, Brinker offers deals like a $10.99 burger, fries, drink and chips/salsa combo since "you just can't beat that anywhere." Brinker employs a "barbell strategy" spanning "entry-level" deals to attract budget-minded diners along with premium choices. As Hochman said, they provide "a great margarita" even for patrons unwilling to overspend. Adapting to a shifting landscape, Brinker strives to appeal to diners across the demand spectrum. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Amazon, Apple, and Meta earnings preview: What to expect

    Tech titans Apple (AAPL), Amazon (AMZN), and Meta (META) are scheduled to release quarterly earnings on Thursday, a pivotal moment for investors to gauge the companies' performance. Amazon's cloud computing arm AWS had heavy AI investments this quarter, with investors waiting to see if it was beneficial. Meta faces doubts that its ad revenue can meet expectations, while Apple's anticipated iPhone 15 sales numbers will be a crucial indicator of demand in China. Yahoo Finance Tech Editor Dan Howley analyzes the vital metrics that will shape the perception of Big Tech's health this earnings season. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Bitcoin notches above $41K, Coinbase upgrade: Crypto news

    Shares of cryptocurrency exchange Coinbase (COIN) are trending higher Friday morning following an upgrade from Oppenheimer. The firm upgraded Coinbase's stock from Perform to Outperform, setting a price target of $160 per share. Bitcoin (BTC-USD) is rebounding above $41,000 following a dip a week after spot bitcoin ETFs were approved Yahoo Finance's Seana Smith and Brad Smith break down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Salesforce plans to lay off 700 workers: WSJ

    Salesforce (CRM) is planning further workforce reductions, according to a Wall Street Journal report. The company intends to cut an additional 700 jobs, coming about one year after the company laid off 10% of its staff. This latest round of layoffs represents a continuation of Salesforce's cost-cutting efforts. Yahoo Finance's Seana Smith and Brad Smith break down the details, providing insights into the growing trend of layoffs in the tech sector. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

  • Microsoft, Nvidia among companies to profit the most from AI

    As part of Yahoo Finance's AI Revolution special coverage this week, Tech Editor Dan Howley explores the industries and companies positioned to capitalize on the generative AI boom ahead. While hype builds around futuristic AI applications, Howley spotlights areas where monetization potential already exists: Automotive, Healthcare, and Agriculture. Howley cites leaders like Microsoft (MSFT), whose Copilot program drives enterprise AI adoption, and Nvidia (NVDA), which powers advanced AI computing through its dominance of AI chip manufacturing. To continue watching more of Yahoo Finance's AI Revolution special click here, or you can watch this full episode of Yahoo Finance Live here. Editor's note: This article was written by Angel Smith.

  • How e-commerce retailers will handle returns in 2024

    Online retailers saw record-breaking return volumes this holiday, with merchandise returns on December 26 jumping by 35% year-over-year. Loop Returns CEO Jonathan Poma joins Yahoo Finance Live to discuss the surge in e-commerce returns. Poma notes elevated return rates "across the board," but particularly in apparel and home goods. With seasonal holiday shopping periods driving purchases, return rates typically climb even higher post-holidays and online return volumes drastically outweigh in-store returns. As logistics costs rise alongside e-commerce deliveries, Poma says free return perks may diminish. Poma explains that merchants like Amazon (AMZN) are trying to "dial in their policies" to combat fraudulent returns and expenses and losses associated with returnless refunds. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.

  • Apple, Chevron, Citigroup: Trending Tickers

    Apple (AAPL) shares slid after Barclays downgraded the stock to an "Underweight" rating and trimmed its price target by $1 per share. The analysts cited weakening iPhone sales and broader demand slowdown across Apple's product ecosystem after four straight quarters of declining revenue. Chevron (CVX) announced it will take $4 billion in charges for the fourth-quarter related to increased regulatory and environmental liabilities, mainly stemming from California oversight of the oil giant's operations within the state. Wells Fargo struck a bullish tone on Citigroup (C), naming it their top bank pick for 2024. Analyst Mike Mayo predicts Citi shares can double over the next three years. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Can 'Magnificent Seven' continue dominating markets in 2024?

    The high-flying 'Magnificent Seven' mega-cap tech stocks that powered markets in 2023 seem poised to extend their leadership in 2024. According to FactSet data, six of the seven including Microsoft (MSFT) and Nvidia (NVDA) are projected to rise double-digits this year, with only a negative return seen for Tesla (TSLA). Yahoo Finance's Josh Lipton and Julie Hyman break down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Why markets may 'have gotten ahead of themselves'

    Stocks (^GSPC, ^IXIC, ^DJI) are stumbling early in the first 2024 trading session after big gains in late 2023. While many strategists remain bullish looking ahead into the new year, NFJ Investment Group Managing Director Burns McKinney joins Yahoo Finance Live with a more cautious view of markets. McKinney states stocks already had "a great 2024 during the fourth quarter of 2023" as the Federal Reserve signaled potential interest rate cuts down the line. He believes the instant rally on that dovish tilt leaves "concern that they might have gotten ahead of themselves" with 2024 gains pulling forward. In his view, aggressive pricing in of rate cuts sparked an "everything rally" leaving little upside this year after markets instantly capitalized on the Fed pivot. After considering the hype around Fed optimism, McKinney is already questioning how much fuel is left in 2024 if economic risks remain. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.

  • Earnings, jobs data to watch in the first week of 2024

    With the first trading week of 2024 underway, Yahoo Finance Live is set to cover notable earnings reports while also monitoring key economic data releases. This includes the JOLTS report (Job Openings and Labor Turnover Survey) on Wednesday, ADP private payrolls on Thursday, and the December jobs report on Friday. Yahoo Finance's Josh Schafer analyzes expectations for the labor market and upcoming jobs data, which will provide crucial insights into the economy's trajectory to start 2024. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Elon Musk's X faces valuation cut by Fidelity

    Fidelity estimates Elon Musk's social media company X, formerly Twitter, is now worth 71.5% less than it was when the billionaire acquired the company. Musk bought X for $44 billion in 2022. Yahoo Finance Tech Editor Dan Howley breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Investors can 'completely dismiss' govt. shutdown concerns

    With another government shutdown and funding deadline looming, BTIG Director of Policy Research Isaac Boltansky tells Yahoo Finance Live that while "government shutdown risks are real", he advises investors to "push the noise from DC out of their investing thought process." Despite a lack of "meaningful progress on the basic foundations of [a] deal" and the high likelihood of a first-quarter shutdown in 2024, Boltansky believes it ultimately "should not matter to investors." "Any negative reaction from a government shutdown will be short-lived," Boltansky says. His only real concern is a prolonged shutdown compromising Federal Reserve data flows. However, given the hopes for an eventual recovery, Boltansky sees limited market impact from temporary DC disputes. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.

  • Southwest Airlines downgraded despite recent rally

    Evercore ISI downgraded Southwest Airlines (LUV) from "Outperform" to "In-Line", citing the airline's ongoing operational challenges. The analysts wrote in a note that the 'current growth rate feels out of sync' after shares outperformed at the end of 2023.   Yahoo Finance's Seana Smith and Madison Mills break down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • ASML stops China shipments on Biden's request: Report

    Shares of semiconductor equipment maker ASML Holding NV (ASML) are trading lower Tuesday morning on a Bloomberg report that President Biden has requested the company to halt chip shipments to China. The cancellation could compromise an estimated 50% of the company's business sales. Yahoo Finance's Madison Mills and Seana Smith analyze the implications if ASML were to withdraw from this crucial market amid geopolitical tensions weighing on global computer chip distributors. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Commerical real estate outlook for 2024

    A National Bureau of Economic Research paper warned commercial real estate loan defaults could reach Great Depression-era levels if rates stay high. USC Finance Professor Erica Jiang discussed the risks on Yahoo Finance Live. Jiang noted falling property cash flows, declining values, and refinancing challenges raising distress, especially for offices, multifamily, and hotels. She says "rising interest rates make it very difficult" to refinance, causing rollover issues. With 15% of commercial loans already underwater presently, Jiang notes default outlooks now "don't look very good." She highlighted offices as particularly exposed, with 45% of office loans underwater, meaning the property value is below the loan amount. This makes refinancing unlikely as it "has high default risks." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Commercial real estate outlook for 2024

    A National Bureau of Economic Research paper warned commercial real estate loan defaults could reach Great Depression-era levels if interest rates stay high. USC Finance Professor Erica Jiang discusses ethes risks on Yahoo Finance Live. Jiang noted falling property cash flows, declining values, and refinancing challenges raising distress, especially for offices, multi-family households, and hotel operators. "Rising interest rates make it very difficult" to refinance, Jiang explains, which in turn cause rollover issues. With 15% of commercial loans already underwater presently, Jiang notes default outlooks now "don't look very good." She highlighted commercial real estate offices as particularly exposed, with 45% of office loans underwater, meaning the property value is below the loan amount. This makes refinancing unlikely as it "has high default risks." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.