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Senate approves Trump-requested cuts to public broadcasting, AP Explains

Senate approves Trump-requested cuts to public broadcasting, AP Explains

Yahoo17-07-2025
The Senate has passed about $9 billion in federal spending cuts requested by President Donald Trump, including deep reductions to public broadcasting and foreign aid, moving forward on one of the president's top priorities despite concerns from several Republican senators.
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Why consumer stocks are falling out of favor on Wall Street
Why consumer stocks are falling out of favor on Wall Street

Yahoo

time14 minutes ago

  • Yahoo

Why consumer stocks are falling out of favor on Wall Street

Consumer-facing stocks are losing favor as investors grow cautious about lower-income spending. Yahoo Finance Senior Reporter Allie Canal joins Market Domination Overtime with Josh Lipton to discuss how earnings are showing a split between lower- and higher-income consumer trends. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Consumer facing stocks are falling out of favor with US investors. Senior reporter Allie Canal joins us now with the Yahoo Finance Investor playbook. Allie. Hi, Josh. Yeah, Wall Street seems to be growing a bit more cautious on the consumer, especially lower income Americans, and that bifurcation, it's showing up in this week's earnings. So earlier this week we saw Chipotle shares fall double digits after the company cut its full year outlook. Hilton dropped on weak US room revenue. Hasbro flagged ongoing pricing sensitivities, and even American Airlines and Southwest, both those airliners warning on soft domestic travel. Now, excluding the airlines, many of these names fall under the consumer discretionary sector. And despite the S&P 500 trading at record highs, up around 10% on the year, consumer discretionary is barely positive. That actually makes this sector one of the worst performers in 2025. And then on the flip side, you have companies catering to wealthier households, like J.P. Morgan and Amex. They're holding up much better in this environment, and to that point, we've seen sectors like financials, industrials, communication services, technology, those sectors continue to outperform. We heard from Bank of America, which said that their survey data showed that industrials and financials, that actually drew the largest inflows last week, underscoring some of that investor appetite when it comes to these cyclical names with strong earnings momentum. And then what was the biggest outflow? That was consumer discretionary. So we're seeing this trade play out in real time. We talked to a few strategists about this bifurcation. Here's a little bit more of what they told us. I still think that we have a bit of a K-shaped economy. Uh maybe that's another similarity, like the meme stocks being all the rage again to what was happening in 2020, 2021, where you had this bifurcation. I think that we're having we have a bifurcated, uh, economy right now. Haves and have nots, both at the consumer level and at the stock level. The divergence between higher income and middle income and higher and lower income consumers is significant. That is what we're seeing in a very, very nuanced consumer market. This is a hyperpromotional environment to get people, especially lower income and lower middle income consumers to spend money, you have to be out promoting, you have to be out with deals. Yeah, so it's really interesting to see how this is playing out this earnings season, and the takeaway here is really that caution is rising around those lower income spenders, and until there's a bit more clarity on household demand, we may continue to see investors rotate into some of these higher income plays, at least for now, Josh.

Market complacency is 'through the roof': Portfolio manager
Market complacency is 'through the roof': Portfolio manager

Yahoo

time14 minutes ago

  • Yahoo

Market complacency is 'through the roof': Portfolio manager

The S&P 500 (^GSPC) notched its fifth straight record close this week. But The Free Markets ETF (FMKT) co-portfolio manager, Michael Gayed, who is also publisher of The Lead-Lag Report, is warning that market complacency is rising. He breaks down some of the signs he's seeing in the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. So, I think the complacency is through the roof. I think if you look at call option volume, you can clearly see that when you look seasonality, you're pretty much at the point in the calendar where historically the VIX bottoms and you tend to see volatility pick up into September. Um so it's interesting to see that we're in this sort of low volatility in quotes melt up, but small caps, yeah, they're up 1%, but they're not at the prior highs and things are still I think from divergence perspective worth noting. Um there are going to be selective winners, but I do think you're probably in for a risk on, risk off type of sequence. Maybe I'm biased in saying that because I have three funds that try to play off of that, but but the seasonality does seem to favor that. That's a short-term dynamic. The free market ETF, which is focused on the regulatory plays, that's a longer-term dynamic and I think that's a much underappreciated aspect of what's to come. So, are you, would you be looking for in the near term, Mike, would you be looking for a pullback? Most likely, yeah. And do you think investors step in and buy that pullback? That's been the Pavlovian response. It's like, buy the dip, buy the dip. It is, it is remarkable to me how with conviction retail comes in and when I say conviction, I'm talking about leverage ETFs, call option volume buying that you see activity that you're seeing. So, there is, um everyone is trained to do the same thing. Now at some point that's going to fail, right? It's like at some point the dip becomes not a dip, but something much more systemic. I don't know when that is. I've been wrong in trying to think the next one would be the one, right? But, um regardless look, we know markets tend to go up over time. It's just about what time frame you want to play. Related Videos Mortgage rates steady, Trump says no capital gains on home sales Trump's rare Federal Reserve visit raises 2 questions Keurig Dr Pepper CEO on Q2 beat, coffee sales, cane sugar German Exporters Can Live With 15% Tariff, Ifo Says Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Jordan, other countries could airdrop aid into Gaza as humanitarian crisis worsens
Jordan, other countries could airdrop aid into Gaza as humanitarian crisis worsens

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Jordan, other countries could airdrop aid into Gaza as humanitarian crisis worsens

The Kingdom of Jordan will airdrop humanitarian aid into Gaza as Palestinians face widespread starvation and diplomatic talks over a ceasefire break down, a source familiar with the operation told ABC News. Jordan's Royal Air Force will restart the drop by beginning to draw from a stockpile of 500 tons of food in Amman, the source said. Military aircraft will drop the food into designated drop zones, which are being coordinated with Israeli authorities, according to an Israeli security official. The airdrops, an operation viewed by the humanitarian officials as a last resort, come as dire conditions in Gaza teeter toward a famine, which the United Nations warns is on the horizon. MORE: 'They're losing hope': What doctors, aid workers are seeing in Gaza amid hunger crisis Secretary of State Marco Rubio, who appeared in Washington this week alongside the Jordanian Foreign Minister, ignored questions from ABC News about how the U.S. could improve the deteriorating humanitarian situation for Gaza and particularly for the enclave's children, who are starving at alarming rates. President Donald Trump expressed frustration Friday morning after the U.S. and Israel recalled negotiating teams in the region Thursday, blaming gridlocked talks on Hamas and suggesting Israel would ramp up its war efforts. "They pulled out in terms of negotiating," Trump said. "It was too bad [that] Hamas didn't really want to make a deal." Hamas said Thursday it was "surprised" the US pulled back its negotiators, saying "mediators have expressed appreciation" for the terror group's "constructive and positive stance" in the talks. Trump said diplomacy is at a point where Israel is "going to have to finish the job," suggesting military action as an answer. "You're going to have to get rid of" Hamas, he said. Trump's special envoy, Steve Witkoff, said "alternative options" would be weighed to bring Israeli hostages held by Hamas home. Israeli Prime Minister Benjamin Netanyahu echoed Witkoff's sentiment, but neither elaborated on what the options were. The president said aid is blocked by Hamas and that the U.S. "is going to do more" for the humanitarian situation in Gaza. MORE: More than 30 killed at controversial foundation's aid distribution sites in Gaza: Health officials Jordan's emergency humanitarian response would be joined by the United Arab Emirates, the Israel official said. Flights over Gaza coordinated by the Israel Defense Forces and COGAT, the Israeli organization in charge of facilitating aid into the Gaza Strip, could begin in the coming days, the Israeli source said. The renewed airdrops are expected to surpass the scale of airdrops conducted by Jordan in 2024, which delivered over 1,000 tons of aid to Palestinians, the source familiar with the operation told ABC News. Cases of severe malnutrition in children under 5 in Gaza have tripled in just two weeks, according to Doctors Without Borders, also known as Médecins Sans Frontières (MSF). At MSF clinics, 1 in 4 children who were screened -- as well as pregnant and breastfeeding women -- are malnourished, the emergency doctors say. One in three people in the enclave, 70% of whose territory is controlled by Israel, have not eaten for multiple days in a row, the World Food Programme said this week. Philippe Lazzarini, Commissioner-General of UNRWA, the largest UN agency operating in Gaza, warned in a post on X that airdrops are the "most expensive and inefficient way to deliver aid," calling them a "distraction to the inaction." Jordan conducted airdrops with US Central Command in the spring of 2024 in an effort to step up aid as the war in Gaza stretched into its sixth month. Then-Secretary of State Antony Blinken thanked the Jordanian King in an April 2024 phone call, noting that the US-Jordanian airdrops delivered over 1,000 tons of humanitarian assistance to Palestinians. MORE: More than 100 aid groups warn of 'mass starvation' in Gaza amid Israel's war with Hamas The war is now just short of two years, and aid is limited to a trickle of aid convoys and distribution coordinated by the Gaza Humanitarian Foundation, a U.S.-backed private company that has faced widespread criticism as its aid distribution points have been marked with violence and chaos since they began operating at the end of May. Over 1,000 people have been killed at aid distribution sites since May, the UN has said. Israel said it had initiated a review into an incident Sunday in which dozens of Palestinians were killed at an aid site after acknowledging troops fired near crowds. It said the probe was ongoing but a "preliminary review indicates that the reported number of casualties does not align with existing information." Just over a third of aid trucks that entered Gaza between May 31 and June 2 were received by humanitarian organizations for distribution, the UN reported in June. The meager quantities of aid and GHF-run distribution sites are the only aid permitted by Israeli authorities. Trucks flowed into Gaza across the Kerem Shalom border crossing over the past week, according to an Israeli security official, who said as many as 150 reached international organizations in Gaza on Tuesday and Wednesday. The UN said that as many as 500 trucks entered the Strip on a daily basis before the outset of the war on Oct. 7, 2023. The State Department said Thursday that Hamas was to blame for chaos and death at distribution sites and insufficient assistance reaching people in need. Hamas has said in the past that Israel is not allowing sufficient aid into the Strip. After the U.S. pulled a negotiating team meeting with Qataris intermediaries in Doha, Tommy Pigott, the State Department's Deputy Spokesperson, said ceasefire talks were not advancing because of Hamas, the terror organization whose October 7, 2023, attack on Israel initiated the war. "This humanitarian conflict lies at the feet of Hamas, who could end this conflict today by releasing the hostages and laying down their arms," Pigott said. The Jordanian Royal Air Force's C-130s, which conducted the drops in 2024 and can carry 14 tons of food each, will be tasked with the operation again, a source familiar with the matter told ABC News. The drops could include high-energy biscuits, each providing enough daily nutrients for a child. Two biscuits would sustain an adult for the day. Aid organizations say children in Gaza are starving to death in increasing numbers. A statement from UNICEF, the UN's agency for children, points to more than four who reportedly died in the last 48 hours -- and note that some 80% of the deaths in Gaza from malnutrition have been children. "These deaths are unconscionable - and could have been prevented," said Edouard Beigbeder, the agency's director for the Middle East. "The UN-led humanitarian response must be allowed to function fully through unfettered aid access to children in need," he said.

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