How important are NVIDIA and Taiwan Semiconductor to the chip industry? Wedbush Securities SVP of equity research Matt Bryson says we 'can't live without' them. More: https://lnkd.in/ekh6tRdp #yahoofinance #finance #AI #tech #markets #money #investing
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Netflix reported second quarter earnings on Thursday that initially sent the stock 6% lower in after-hours trading after the streaming giant's revenue outlook missed Wall Street's expectations for the current quarter. Subscribers once again came in strong with another 8 million-plus users added on the heels of key programming, such as the latest season of "Bridgerton." https://yhoo.it/3Yt5Q1Z
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A worldwide tech outage crippled industries from travel to finance on Friday before services started coming back online after hours of disruption, highlighting the risks of a global shift towards digital, interconnected technologies. A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems that grounded flights, forced some broadcasters off air and left customers without access to services such as healthcare or banking. https://yhoo.it/4cHBNYq
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Learning how to invest in stocks on your own? You're not alone. According to a Federal Reserve study of consumer finances, the number of US households with direct stock ownership increased by 6% between 2019 and 2022. Here are some basic tips on navigating the investing world. 📝 #yahoofinance #finance #money #markets #investing #stocks
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Netflix reported second quarter earnings that beat expectations on Thursday but the stock fell as much as 6% in after hours trading after the streaming giant's outlook missed revenue expectations for the current quarter. Revenue hit $9.56 billion in Q2, an increase of 16.8% compared to the same period last year, as the streamer continued to lean on top-line initiatives like its crackdown on password sharing and ad-supported tier, in addition to last year's price hikes on certain subscription plans. https://lnkd.in/edSTUWxn
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More than 35,000 borrowers will have $1.2 billion in student debt discharged under the public service loan forgiveness (PSLF) program, the Biden administration announced Thursday. The program impacts teachers, nurses, firefighters, social workers, and other public servants, including the military. Debt relief under PSLF now totals $69.2 billion for 946,000 borrowers since October 2021. Under the previous administration, only 2% or around 7,000 PSLF borrowers received forgiveness. “The additional Americans approved for PSLF today are hard-working public servants who will finally receive the financial breathing room they were promised,” Miguel Cardona, U.S. Secretary of Education, said in a press release. https://yhoo.it/3y6T2U3
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Weekly jobless claims rose more than expected last week in the latest sign of a cooling labor market. New data from the U.S. Department of Labor showed 243,000 initial jobless claims were filed in the week ending July 13, up from 222,000 the week prior and above the 229,000 economists had expected. This tied with a weekly jobless claims reading from June for the highest level of weekly filings since August 2023. Meanwhile, the number of continuing applications for unemployment benefits hit its highest level since November 2021, with nearly 1.87 million claims filed in the week ending July 6, up from 1.85 the week prior. Jefferies US economist Thomas Simons reasoned that part of the uptick in weekly claims could have been caused by Hurricane Beryl displacing workers. Still, Simons noted that the trend in recent weeks for jobless claims has reflected more cracks emerging in the labor market. "The data of the past few weeks have been signaling incremental labor market weakness, albeit from a position of extreme strength," Simons wrote in a research note on Thursday. "It is still too early to tell if this is another step in the process of the labor market coming into better balance, or if it is the early stages of building momentum to the downside." The signs of weakness Simons called out have backed the case for the Federal Reserve to begin cutting interest rates soon, per multiple economists. On Monday, Goldman Sachs chief economist Jan Hatzius wrote in a research note that with inflation slowing, the Fed should consider interest rates as early as July, given the recent loosening in the labor market. More: https://lnkd.in/esk88h5k #yahoofinance #finance #economics #jobs #labor
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The national debt is on the cusp of a grim milestone. Outstanding government debt stood at $34.9 trillion as of Tuesday, according to the latest data from the Treasury Department. That's a debt load that now represents over 120% of GDP. https://yhoo.it/3zVASoC
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