Joseph Santangelo

    Joseph Santangelo

  • Jobs report, Walgreens CEO steps down, Labor Day gas prices: Top Stories

    The U.S. added 187,000 jobs in August, which is more than economists had been expecting. The unemployment rate rose to 3.8%. Walgreens Boots Alliance (WBA) announced that CEO Rosalind Brewer was stepping down after less than three years in the role. The company said in a statement that it was a mutual decision. It's Labor Day weekend and plenty of drivers will be hitting the road. GasBuddy predicts prices will fall further over the weekend. Student loan payments are about to restart. Repayments don't begin until October 1st, but the interest starts accruing again on September 1st.

  • Bitcoin prices dip after SEC delays decision on spot bitcoin ETF filings

    The price of bitcoin and other cryptocurrencies are under pressure after the SEC's decision to delay applications for bitcoin spot ETFs for another 45 days. Bitcoin has fallen back below $26,000 after rallying earlier this week on Grayscale's (GBTC) victory in a federal appeals court. Yahoo Finance Markets Reporter Jared Blikre breaks down the story.

  • Jobs report: Why Recruiter.com's CEO 'wasn't surprised' by the unemployment data

    The August jobs report showed a slight uptick in unemployment, which rose to 3.8%, up from 3.5% in July. Recruiter.com Chairman and CEO Evan Sohn explains that when looking at data from his company's Recruiter Index “the August Recruiter Index was the lowest ever”, and was the fourth month in a row of lower numbers. As a results, Sohn says he "wasn't surprised" by the rise in the unemployment numbers. Sohn also notes that “Wall Street’s rewarding companies for achieving their earnings through cutting costs," and that job cuts are one of the easiest way for companies to bring their costs down.

  • Gen Z more likely to make purchases based on social media: Survey

    A recent survey from Charles Schwab shows more U.S. consumers are using social media to make purchasing decisions. The biggest group is Gen Z, of which 55% said they make shopping decisions based on what they see from social media posts. Yahoo Finance Reporter Brooke DiPalma explains that using social media to attract Gen Z customers has been a significant strategy for retailers. DiPalma says retailers such as Abercrombie & Fitch (ANF), Kohl’s (KSS), and Nordstrom (JWN) have all said they are making a push to attract younger shoppers. Retailers continue to want to attract Gen Z because they are “setting the trends” according to Dipalma, who notes that older generations tend to then pick up on those trends.

  • Walgreens CEO Rosalind Brewer steps down after less than three years

    Walgreens Boots Alliance (WBA) CEO Rosalind Brewer has stepped down from her role in what Yahoo Finance Health Care Reporter Anjalee Khemlani calls “an abrupt move.” The company released a statement that declared the move was a mutual decision and that Brewer will continue to advise the company while it searches for an incoming CEO. Brewer joined Walgreens in 2021, just as Covid vaccines were being made available to the public.

  • August jobs report 'close to perfect' for Fed: Strategist

    The August employment report showed that the U.S. added 187,000 jobs in the month, with the unemployment rate rising to 3.8%. “This is as close to a perfect jobs report as frankly, you’re ever going to get” according to eToro Global Markets Strategist Ben Laidler. The report shows more people are coming back into the labor market and slowing wage growth according to Laidler. Laidler says the Fed "wants to be very very sure that inflation is back at that 2% number and the key to that is the jobs market."

  • CrowdStrike stock jumps on earnings, forecast

    Shares of CrowdStrike (CRWD) soared after the company posted better-than-expected second-quarter results and posted a full-year fiscal outlook that was above analysts' expectations. The company saw revenue grow by 37% from a year ago. Yahoo Finance Live breaks down the numbers.

  • Microsoft to unbundle Teams from Office suite in Europe

    Microsoft (MSFT) will unbundle its Teams chat and video service from the rest of its Office suite in order to avoid fines from European regulators. Yahoo Finance Tech Editor Dan Howley explains that Teams was originally bundled with Microsoft's productivity suite, resulting in Slack — a subsidiary of Salesforce (CRM) — launching an anti-competition complaint with the E.U.

  • Labor Dept. pitches higher overtime threshold for salaried workers

    The Department of Labor proposed an increase in the threshold salary for employees to benefit from overtime pay. The proposed increase would grant overtime pay to employees making $55,068 or less as opposed to the current threshold of $35,568. Yahoo Finance Senior Columnist Rick Newman notes that the proposal doesn’t impact hourly workers and is for workers paid by salary.

  • Elon Musk says video, audio calls coming to X

    Elon Musk said in a X post that video and audio calls will be coming to the platform. Musk claims the calls won't require a phone number and that X is "the effective global address book." Yahoo Finance Tech Editor Dan Howley explains how this is one more example of Musk trying to turn X into an "everything app" here users can access a multitude of services.

  • AI is probably bigger than electricity: Strategist

    Artificial intelligence has been a big driver in the stock market, with Nvidia (NVDA) leading the way. Belpointe Chief Strategist David Nelson thinks that some of the other beneficiaries will be "the hundreds of companies that will actually use the technology," such as Deere & Company (DE). Nelson believes AI will "revolutionize the industrial complex" and that it will be "probably bigger" than electricity, noting companies that are using AI enhance both their top and bottom lines.

  • 'Magnificent Seven' playbook: What to know about Tesla

    Tesla (TSLA) shares have more than doubled this year, but does the EV maker’s stock fundamentals hold up or is it an investment based on faith in the company? The company is facing increasing competition from Chinese EV automaker BYD (BYDDF) and the upcoming release of its Cybertruck has yet to be announced. Yahoo Finance Tech Reporter Allie Garfinkle breaks down the playbook for Tesla.

  • Ramaswamy vs Eminem: Why GOP candidates tend to clash with musicians

    Rapper Eminem sent a cease and desist letter to GOP presidential candidate Vivek Ramaswamy asking him to stop using his music during his campaign, something Ramaswamy agreed to do. Yahoo Finance Senior Columnist Rick Newman explains why politicians, often Republicans, get asked by musicians to stop using their music.

  • Restarting student loan payments will dent U.S. Housing: Survey

    Another hurdle may be coming to the U.S. housing market. Pulsenomics surveyed more than 100 housing experts. Over 75% of them say the return of student loan debt repayments will have a negative effect on homeownership rates for more than a year. Part of the problem is that more than 30 million student loan borrowers are between the age of 25-49 years old. Those are the prime time years for Americans to settle down, buy homes, and start families. The strain of student loan repayments will potentially strain household budgets, limiting their options for homeownership. Yahoo Finance Reporter Dani Romero breaks down the survey.

  • New York asylum crisis: CEOs call on Biden admin to address problem

    CEOs, including JPMorgan Chase's Jamie Dimon (JPM) and Goldman Sachs' (GS) David Solomon, are joining the chorus of state and local officials calling on Congress and the Biden administration to address New York City's ongoing migrant crisis. Yahoo Finance Senior Columnist Rick Newmans explains the chaotic nature of the situation, stating "everybody is blaming everybody else", alluding to a verbal tug-of-war between New York City Mayor Eric Adams and Governor Kathy Hochul over how to handle the crisis.

  • Texas Instruments stock slips after Bernstein downgrade

    Texas Instruments (TXN) was downgraded by Bernstein from "Market Perform" to "Underperform,"  citing the company's "longer investment horizon" as it increases spending. There are slo concerns about the company's margins. Yahoo Finance Live breaks down the story.

  • Ambarella stock plunges on weak Q3 revenue forecast

    Shares of semiconductor company Ambarella (AMBA) are plummeting on a third-quarter revenue forecast that fell short of analyst expectations. The company also reported mixed second-quarter results, in which revenue was in line with estimates, but adjusted earnings missed. Yahoo Finance Live breaks down the latest numbers from Ambarella.

  • Could ChatGPT replace your doctor? What a new study reveals

    Data from Mass General Brigham reveals that ChatGPT achieved a 72% success rate in clinical decision-making. The success rate was notably only achieved in textbook cases and not in critical illnesses. Yahoo Finance Live breaks down how AI could be used in a medical setting.

  • GM, Google Cloud announce new AI partnership

    General Motors (GM) has announced details of it’s AI partnership with Google Cloud, including using it in its OnStar service. GM has been utilizing Google’s (GOOGL) Dialougeflow AI software to power OnStar customer service for non-urgent requests. Yahoo Finance Reporter Pras Subramanian explains the implications of this latest AI push.

  • Cryptocurrencies surge after Grayscale’s legal win over SEC

    A federal court has ruled that the Securities and Exchange Commission must reconsider Grayscale's application for a bitcoin ETF, a decision that sent cryptocurrencies soaring. Yahoo Finance Reporter David Hollerith explains how the crypto industry is looking at the ruling, saying "it might be seen as just one minor win”. As for what it means for the SEC, Hollerith says “at this point, the SEC kind of has to go back to the drawing board."