America's first transcontinental freight railroad is planned after a megamerger
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Yahoo
19 minutes ago
- Yahoo
Trump's love for American Eagle's 'good jeans' ad campaign sparks a fresh 24% rally in the stock: 'Go get 'em Sydney!'
Donald Trump is a big fan of American Eagle's newest ad campaign. Praise from the president on Truth Social helped spark a fresh rally in the clothing retailer's stock. "The jeans are 'flying off the shelves.' Go get 'em Sydney!" Trump wrote. The retail traders who sparked a meme-like rally in American Eagle stock after Sydney Sweeney became the face of a new ad campaign were joined by Donald Trump on Monday in praising the brand. The president's love for the "Sydney Sweeney has great jeans" campaign kicked off a fresh surge in the stock on Monday, with shares rising as much as 24%. The company's campaign featuring the famous actor sparked controversy online — some claimed that it promoted eugenics while others accused it of being overly sexual in nature — but Trump made it clear he's a big fan. "The jeans are 'flying off the shelves.' Go get 'em Sydney!" he wrote on Truth Social before calling out other companies for "woke" advertising. Trump cited examples of companies such as Jaguar and Bud Lite that created ad campaigns that were met with backlash from some consumers. "The market cap destruction has been unprecedented, with BILLIONS OF DOLLARS SO FOOLISHLY LOST," Trump wrote. It's the latest leg of a meme-like stock surge for American Eagle, which jumped last month after retail traders online piled in following the reveal of new ads featuring Sweeney. The stock ultimately lost some momentum following the late July rally, which also saw several other new meme stocks rise. Trump's post helped it make up some of the ground it lost since then. However, even after multiple surges, the fashion retailer is still down almost 23% year-to-date (YTD) after a difficult start to 2025. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
19 minutes ago
- Yahoo
Gold rises for fourth session as US jobs data lifts Fed rate cut bets
By Anushree Mukherjee and Brijesh Patel (Reuters) -Gold nudged higher for a fourth session on Tuesday, supported by a softer dollar and lower Treasury yields as weaker-than-expected U.S. jobs data strengthened expectations of a rate cut in September. Spot gold was up 0.1% at $3,375.89 per ounce as of 0239 GMT. U.S. gold futures also gained 0.1% to $3,430.40. The dollar index hovered near a one-week low, making gold more affordable to holders of other currencies. [USD/] The yield on the benchmark 10-year Treasury note dropped to a one-month low. [USD/] [US/] "Short-term momentum has improved for the bullish side of the narrative supporting gold prices is that the Fed is still in the mode to actually cut rates in September," OANDA senior market analyst Kelvin Wong said. U.S. employment growth was softer than expected in July, while non-farm payroll figures for May and June were revised down by a massive 258,000 jobs, suggesting a deterioration in labor market conditions. Traders now see a 92% chance of a September rate cut, per the CME FedWatch tool. San Francisco Fed Bank President Mary Daly said on Monday that given mounting evidence that the U.S. job market is softening and that there is no sign of persistent tariff-driven inflation, the time is nearing for rate cuts. Gold, traditionally considered a safe-haven asset during political and economic uncertainties, tends to thrive in a low-interest-rate environment. On the trade front, President Donald Trump once again threatened on Monday to raise tariffs on Indian goods over its Russian oil purchases. New Delhi called his remarks "unjustified" and vowed to protect its economic interests, deepening the trade rift between the two countries. Still, gold faces some technical resistance. "I still do not see traders pushing up aggressively above the $3,450 level. Unless we have a very clear catalyst for gold price to actually pick up this level" OANDA's Wong said. Elsewhere, spot silver rose 0.1% to $37.44 per ounce, platinum gained 0.1% to $1,330.31 and palladium was up 0.2% to $1,204.25. 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
Bloomberg
22 minutes ago
- Bloomberg
Trump's Tariff to Test India's Central Bank: Decision Guide
US President Donald Trump's tariff shock on India is complicating the central bank's interest rate decision Wednesday, with some economists bringing forward their expectations for easing. Before Trump's announcement, most economists had expected no change in rates following the governor's cautious stance in the June policy meeting. Now, some of them — including Soumya Kanti Ghosh of State Bank of India Ltd. and Dhiraj Nim of Australia & New Zealand Banking Group — are forecasting a quarter-point rate cut to shield Asia's third-largest economy from tariff-related uncertainty.
