Fed's Waller Calls For July Cut; Netflix Slips Despite Earnings Beat
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 minutes ago
- Yahoo
Tesla's July China-made EV sales fall 8.4%
BEIJING (Reuters) -Tesla's sales of China-made electric vehicles in July fell 8.4% from a year earlier, reversing a mild increase in June, in the face of rising competition from rivals offering lower-priced new models. Deliveries of Tesla's China-made Model 3 and Model Y vehicles, including exports to Europe and other markets, reached 67,886 units last month, down 5.2% from June, data from the China Passenger Car Association showed on Monday. Its biggest Chinese rival BYD, with its Ocean and Dynasty lineups of EVs and plug-in hybrids, maintained almost flat global passenger car sales at 341,300 vehicles in July.
Yahoo
5 minutes ago
- Yahoo
Xiaomi Unveils New AI Voice Model to Boost Auto, Home Tech
(Bloomberg) — Xiaomi Corp. (XIACY, XIACF) on Monday released an open-source voice model to complement its automotive and home appliance technologies, further heating up the race to build AI tools for more than just text. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance The new MiDashengLM-7B is based on Xiaomi's foundational voice model, which has been deployed in cars and smart home gadgets, with integration of Alibaba Group Holding Ltd.'s open-source Qwen2.5-Omni-7B. The Beijing-based phone and auto maker detailed the advancements and provided benchmarks in a post on its WeChat account. Xiaomi has been aggressively pursuing new growth drivers outside of its core smartphone business, with electric vehicles now fast becoming one of its priority business areas. At the same time, investing in the development of artificial intelligence has grown into an overriding priority across China's tech sector, and many of the leading companies have opted to make their work open source to secure customers. Major Chinese internet companies from Alibaba to Tencent Holdings Ltd. have released various models that can handle images, video and sound in recent months to better compete with the likes of OpenAI's Sora. Both US President Donald Trump and Chinese leader Xi Jinping have emphasized the need for their countries to secure a leading position in the AI race. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off What's Really Behind Those Rosy GDP Numbers? Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign up for Yahoo Finance's Week in Tech By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
Yahoo
5 minutes ago
- Yahoo
Morgan Stanley's Wilson Says Buy Stocks Dip on Earnings Strength
(Bloomberg) -- Investors should buy into the selloff in US stocks because of the robust earnings outlook for the coming year, according to Morgan Stanley strategist Michael Wilson. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance While the S&P 500 faces pressure from the weakening labor market and tariff-related inflation that may delay Federal Reserve interest-rate cuts, investors should view any pullback as a buying opportunity, Wilson wrote in a note Monday. 'The rolling recovery has begun as evidenced by our earnings revisions breadth analysis,' Wilson wrote. 'While the Fed remains on hold for now, the combination of a fading inflation impulse later this year plus softness in the labor market should foster a robust cutting cycle.' The record breaking rally in US equities came to a halt last week, with the S&P 500 swinging from posting six consecutive all-time highs to a four session losing streak. Stocks sank Friday after data showed slowing job growth and rising unemployment, and as President Donald Trump unveiled a slew of tariffs on US trading partners. On a brighter note, the second-quarter earnings season is proving much better than expected. S&P 500 firms are on track to post a 9.1% jump in profits, far above analysts' projection of 2.8%, according to data compiled by Bloomberg Intelligence. The share of companies beating estimates is also the highest in four years. Goldman Sachs Group Inc. strategist David Kostin said company executives had so far sounded confident in their ability to mitigate the impact of tariffs on profits. While pressure on revenue growth from levies should increase in the second half, there should be support for stocks from mega-cap tech earnings and fiscal policy heading into 2026, he said. At Morgan Stanley, Wilson said AI adoption, dollar weakness and tax cuts will act as tailwinds for equities. The strategist was among the most bearish voices on US stocks until mid-2024. --With assistance from Sagarika Jaisinghani and Henry Ren. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off What's Really Behind Those Rosy GDP Numbers? Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
