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TheStreet.com
Bad News Is Piling Up for Chip Makers
The months follow one another and look alike for the manufacturers of semiconductors. For months, fears of a hard landing in the economy due to aggressive interest rate hikes by the Federal Reserve to fight inflation at its highest in 40 years have been a headache since the beginning of the year for Nvidia , Advanced Micro Devices , Intel , Micron and Qualcomm . Nvidia shares have lost more than 13% since the end of August, while AMD shares, which had rebounded well after the release of the second quarter earnings, have fallen by 9.2% since the end of August.
Reuters
Shaken Wall Street awaits final capitulation to greenlight buying
Even as investors crowded the exits on Tuesday, Wall Street’s steepest one-day shake out since early in the pandemic in June 2020 carried few of the hallmarks of capitulation that analysts want to see before calling a bottom. While the S&P 500’s 4.3% slump on Tuesday extended fractionally in early trade Wednesday, it held about half a percent above the 3,900 technical area that looks pivotal to buffering a decline to the June bear market low around 3,666. The benchmark S&P closed Wednesday up about 0.35%.
SmartAsset
How to Buy More than $10,000 in I Bonds Through This Loophole
In a world where the stock market is unpredictable and interest rates are rising, many investors are looking for someplace to put their money that is as close to risk-free as possible – even if it means forgoing the chance … Continue reading → The post How to Buy More than $10,000 in I Bonds Through This Loophole appeared first on SmartAsset Blog.
Bloomberg
IBM to Post $5.9 Billion Pension-Transfer Charge in Third Quarter
(Bloomberg) — International Business Machines Corp. said it would report a $5.9 billion one-time pretax charge in the third quarter as a result of an agreement to offload pension obligations to two life insurers.Most Read from BloombergTerra Co-Founder Do Kwon Faces Arrest Warrant in South KoreaUS Inflation Tops Forecasts, Cementing Odds of Big Fed HikeStocks Rise as Dip Buyers Win Tug of War Over Fed: Markets WrapXi Returns to World Stage With Putin to Counter US DominanceUgly Selloff Pushes S
Reuters
Fed set for another 75-basis-point rate hike; early pivot unlikely: Reuters poll
The Federal Reserve will deliver another 75-basis-point interest rate hike next week and likely hold its policy rate steady for an extended period once it eventually peaks, according to a Reuters poll of economists released on Tuesday. Policymakers have done little to push back on market pricing for a third consecutive rate hike of three-quarters of a percentage point at the U.S. central bank’s Sept. 20-21 meeting, with inflation, as measured by the Fed’s preferred gauge, running at more than three times its 2% target. A strong majority of economists, 44 of 72, predicted the central bank would hike its fed funds rate by 75 basis points next week after two such moves in June and July, compared to only 20% who said so just a month ago.
American City Business Journals
Here’s why Mark Zuckerberg is a bad boss, according to a leadership expert
To understand why Meta Platforms Inc. has been struggling of late and likely won’t rebound anytime soon, one doesn’t have to look much beyond founder and CEO Mark Zuckerberg, according to one leadership expert. Bad bosses can be placed into five different categories, Bill George, a senior fellow at Harvard Business School, told CNBC. Zuckerberg, who has headed Facebook’s parent company since he founded it while a student at Harvard, fits into three of those, George said.
The Wall Street Journal
Elon Musk Says The Fed Should Cut Interest Rates
Billionaire Elon Musk [took to Twitter early Wednesday](https://twitter.com/elonmusk/status/1569951122231787521) to reiterate his concerns about deflation should the Federal Reserve continue to raise interest rates, which he also expressed [via tweet on Friday](https://twitter.com/elonmusk/status/1568383953370767365). Mr. Musk said the central bank should turn to cutting rates by 0.25 percentage point. The Fed is currently expected to [raise rates by at least 0.75 percentage point](https://www.w
TipRanks
How Can I Protect My Portfolio? Here Are 2 ‘Strong Buy’ Dividend Stocks Yielding at Least 8%
According to the latest CPI (consumer-price index) report, U.S. inflation cooled down slightly from July but not enough to appease the markets. Overall prices rose by 8.3% from the same period a year ago, slowing down from July’s 8.5% uptick and further down from June’s 40-year high showing of 9.1%. On a monthly basis, after plateauing in July, consumer prices rose by 0.1%. As the expectation was for a rise of 8.1% over last year and a drop of 0.1% compared to last month, the markets did what th
