The stock market's short-term volatility can sometimes cloud investors' judgment and cause panic selling. In that spirit, we asked three Motley Fool contributors to discuss buy-and-hold-worthy growth stocks. Read on to find out why they picked Axsome Therapeutics (NASDAQ: AXSM), Eli Lilly (NYSE: LLY), and Vertex Pharmaceuticals (NASDAQ: VRTX).
STORY: U.S. stocks closed nearly unchanged on Tuesday as investors braced for the Federal Reserve interest-rate decision on Wednesday.The Dow and S&P 500 ended essentially flat, while the Nasdaq added two-tenths of a percent.The S&P 500 touched a record high earlier in the session, after an unexpected rise in August retail sales eased worries of a sharp economic slowdown.Still, markets were pricing in a more than 60% chance that the Fed will cut borrowing costs by 50 basis points at the end of its two-day meeting on Wednesday, according to the CME's FedWatch Tool. That's a shift from just last week, when most traders were betting on a smaller 25-basis-point cut.George Cipolloni is portfolio manager at Penn Mutual Asset Management."I think the reason why stocks are flat today is exactly because of that, that the Fed is going to make a huge announcement and people aren't sure what to do right now. Again, there's a ton of uncertainty around this decision [on an interest rate cut]. And so longer term, I, personally, as an investor, don't really think it matters whether it's 25 or 50 [basis point rate cut]. But in the short term, I definitely think we are set up to see some volatility again if the market's disappointed or not, tomorrow."Stocks on the move included Intel, which gained 2.7% after signing Amazon's cloud-services unit as a customer to make custom AI chips. Amazon shares added one percent.Sticking with AI, shares of semiconductor powerhouse Nvidia shed one percent.And shares of Microsoft gained after the tech giant's board approved a new $60-billion share-buyback program and hiked its quarterly dividend by 10%.
Creatio CEO Katherine Kostereva joins Asking for a Trend to discuss how the startup is looking to lead the enterprise no-code market. "In the world, the population of software developers is 25 million people, which sounds like a big number, but in reality, it is not. When you think about the demand for automation, there are 500 million apps that need to be automated by those 25 million software developers. So the math doesn't really work there. And the question is how to solve this issue. And the solution is engage knowledge workers, nonprofessional software developers, we call them knowledge workers or citizen developers," Kostereva tells Yahoo Finance. Creatio allows companies to automate their workflows and build their own apps and software through a drag-and-drop process. "What we're doing right now is actually reimagining the world of no code when AI builds the software for you," she explains, adding, "We raised $200 million at $1.2 billion valuation in June to invest into AI, because that's where we see the future of automation in the workflow space." In addition, she highlights that Creatio has grown 50% year-over-year despite rocky market conditions. Kostereva notes that AI will change the industry in two ways. First, the technology will allow businesses to create their own apps and workflows. "As we say, English is the future coding language, and we see that AI is going to be a bigger revolution on the market than even internet was many years ago," she explains. The second way she believes AI will change the market is by "raising the productivity and efficiency of knowledge workers who use this software for case resolution service management, call center management, marketing, sales automation, you name it." For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl
As the Federal Reserve is expected to kick off its interest rate-easing cycle tomorrow, many on Wall Street are wondering whether the Fed's soft landing is in sight. Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend to break down the most recent Bank of America Global Fund Managers survey illustrating increased investor confidence in a soft landing scenario. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl
Nate Tice is joined by Matt Harmon to look back at a few of their takes from before the season started and decide whether to stay, fold or double down after two weeks of NFL action.
Federal prosecutors accuse Mr Combs of leading a criminal enterprise marked by violence and abuse.
The asteroid, named by the space agency as "2024 ON," is 621,000 miles from Earth
STORY: A widely expected interest rate cut at the conclusion of the Federal Reserve's policy meeting Wednesday has many wondering what impact the decision may have, after one of the central bank's steepest increases for borrowing costs in history.:: [How a rate cut could impact Main Street]Let’s start with it might effect housing and consumers.Michael Bailey is director of research At FBB Capital Partners."If the Fed starts cutting rates, there has historically been a connection with mortgage rates, so as those come down in theory homes should become more affordable, so that may help that part of the economy. The flip side is that regular consumer products and staples, we have gone through a wave of massive inflation and that's the reason the Fed raised rates, to kind of slow that down, however, the damage has already kind of been done. A lot of those prices are higher, so it is less likely they will come down.":: [How a rate cut could impact Wall Street]For investors, a key question may be whether the Fed will cut rates in time to avert a potential economic slowdown. George Cipollini, portfolio manager at Penn Mutual Asset Management looked at Goldman Sachs Research about how the S&P 500 performs in the first year after a rate cut.“if the economy is not in a recession, the market tends to go up roughly 10 to 12, 10 to 15%. And if we are in a recession, the market tends to go down about 10-15%. So it really is two different dress like different and binary outcomes from a potential standpoint in terms of what the stock market may do in, in terms of the reaction.”:: [How a rate cut could impact U.S. bonds]In terms of Treasuries, they have already seen a huge rally, and some investors believe they are unlikely to run much further unless the economy experiences a recession.The problem is economists see little evidence that the U.S. is currently in a recession and we likely won’t know for several more months.
NEW YORK, September 17, 2024--Politan Capital Management (together with its affiliates, "Politan"), an 8.9% shareholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ: MASI), today highlighted that leading proxy advisory firm Glass, Lewis & Co. ("Glass Lewis") has updated its earlier report to reiterate its recommendation that shareholders vote FOR the election of Politan’s nominees, Darlene Solomon and Bill Jellison, to the Company’s Board of Directors (the "Board") at the Annual Mee
The Danity Kane alum was signed to Diddy's Bad Boy Records
Hedge fund Irenic Capital Management on Tuesday urged Kinaxis to see who may want to buy the Canadian software company and warned its board against making "reactive decisions" and taking "half measures." The Board "should initiate a full strategic review including soliciting interest for a sale for the whole company," Irenic said in a statement, echoing other investors' private and public calls for the company to put itself up for sale. Irenic, run by former Elliott Investment Management and Indaba Capital Management executives Adam Katz and Andy Dodge, called Kinaxis a "world-class software asset" that needs to find a new chief executive officer and head of sales and also needs to review interest in the company from potential financial and strategic buyers.
The new horror and science fiction anthology, “Deepest, Darkest,” has added yet another cast mate to its already stellar lineup of genre heavyweights. Rahul Kohli, a beloved member of Mike Flanagan’s Flanaverse (“The Haunting of Bly Manor,” “The Fall of the House of Usher”) and essential teammate in the crime-solving “iZombie” series, has officially joined …
The rapper has been a longtime critic of the embattled music mogul
JPMorgan Asset Management chief global strategist David Kelly joins Julie Hyman and Akiko Fujita at the Future Proof Festival to discuss the state of the US economy as the Federal Reserve is expected to make its first interest rate cut in four years this week. Kelly calls the current economy "healthy," explaining, "the unemployment rate is at 4.2%, the CPI [Consumer Price Index] inflation rate 2.5%. You add those two numbers together, 6.7 — that is lower than it's been 84% of the time over the last 50 years. So I think the Federal Reserve really shouldn't have too much angst about this," he tells Yahoo Finance. He argues that the Fed shouldn't have pushed rates as high as they did and should have initiated cuts earlier. However, he explains that if Fed officials cut aggressively from here on out, they runs the risk of undermining investor confidence as it could signal that the economy is worse off than expected. "It's kinda like lowering a piano down from the fourth floor of a building. You got to do it slowly and carefully because the biggest risk is that you freak people out." If the Fed sparks recession fears by cutting rates too aggressively, Kelly believes that it could cause a ripple effect that impacts everything from hiring to the housing market. While lower rates will stimulate the economy, he warns, "the first few moves actually hurt the economy, not help it. That's why the Federal Reserve has such a hard time cutting rates and actually having it help the economy because it actually hurts before it helps." Kelly views the Fed moving too dramatically as the "biggest known risk" for the US at this point in time. He points to pivotal events like September 11 and the COVID-19 pandemic which have contributed to recessions in the past. "I think people are worried about recession, but in the end, you've gotta gimme a reason why consumers stop spending, and I think it takes a lot to make American consumers stop spending." With the 2024 presidential election on the horizon, Kelly believes that the United States's debt isn't a cause for concern: "We absolutely need to deal with it, but what we've seen is the world has got a tremendous appetite for US debt. Last year, the Fed, the Treasury Department managed to raise $2.7 trillion of additional debt. And long-term interest rates didn't even go up. And so if they can do that, I think that we can actually handle big deficits for a while." Instead, Kelly worries about a potential trade war as both Democrats and Republicans have embraced tariffs. "Tariffs are terrible economic policy. They are a magical stagflation elixir. There are very few things that can actually cause the economy to slow and push up inflation at the same time. And tariffs can do that," he warns, noting that the policy could land the US in a recession. Following the Trump administration's trade war with China, Kelly notes that the US has moved away from globalization. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl
Former employee David Lochridge tells a public hearing the whole idea of OceanGate was to "make money".
A Hezbollah official claimed the detonations was the ‘biggest security breach’ in nearly a year of war with Israel
NEW YORK — Rapper Sean “Diddy” Combs was hit with sex trafficking and racketeering charges on Tuesday as federal prosecutors filed a criminal indictment against the music mogul accusing him of forcing women to participate in wild and violent sexual performances he videotaped. In the 14-page indictment, Combs, 54, is accused of transporting male sex workers and women across state lines to ...
Joe Biden also said he is ‘relieved’ the former president was unharmed
Eleven people have been killed and 4,000 wounded by the blasts, the Lebanese health ministry says.
“The Count of Monte Cristo,” one of four films on France’s shortlist for the country’s official submission to the Academy Awards, will open on Dec. 20 in U.S. theaters. Samuel Goldwyn Films plans to campaign the three-hour adventure drama in all categories including best picture, with the release to roll out nationwide after its bow. …
Princess of Wales continues her gradual return to public life with her first work meeting this year.
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