More Than 40% of Americans See Decline in Real Pay, Indeed Says
Overall US pay growth as measured by the Indeed Wage Tracker is still running ahead of inflation, but the gap has shrunk to the smallest it's been in 12 months, according to a report published Thursday. Almost six in ten workers saw their paychecks grow faster than the cost of living as of June — meaning that the rest aren't keeping up.
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Business Insider
an hour ago
- Business Insider
‘It's an Easy Call,' Says Top Investor About Palantir Stock
Palantir (NASDAQ:PLTR) stock, like any investment, requires weighing the potential rewards against the risks. While the company continues to perform exceptionally well, the primary – and arguably only – factor giving investors pause is its elevated share price. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. That concern hasn't slowed the stock's momentum. Palantir shares have surged by over 500% in the past 12 months, and late last week, the company reached yet another record high. Its valuation multiples now tower over sector medians by thousands of percentage points, raising questions about whether the fundamentals can keep pace with investor enthusiasm. Next week's Q2 earnings report, scheduled for August 4th, could provide a timely reality check. It offers a critical opportunity for the company to justify its lofty valuation – or fall short of the market's high expectations. Top investor Rick Orford, who's ranked among the top 1% of stock pickers on TipRanks, is leaning toward the former scenario. He anticipates another upswing in PLTR shares following the earnings release, making it an easy call given the current trajectory. 'Should Palantir hit its Q2'25 targets – and with how the wind is blowing, that could happen – I think Palantir shareholders will be pleased. His optimism is rooted in both historical performance and Palantir's current momentum. Historically, the stock has swung an average of 17.5% following earnings – a double-edged sword, but one that Orford believes will cut favorably this time. Central to that belief is the company's AI Platform (AIP), which helped drive a 39% year-over-year revenue increase last quarter. That growth has been especially notable in Palantir's U.S. commercial segment, where AIP adoption led to a 71% revenue spike in Q1. According to Orford, this surge reflects a broader trend: companies across the country are scrambling to implement AI but often lack the in-house expertise. Palantir's AIP provides them with a ready-made solution. 'American enterprises are most likely desperate to implement AI solutions, but not all of them have the technical expertise to do so. With AIP, these enterprises get what they need to implement custom AI into their operations,' the investor explains. Orford also sees Palantir's government work as a key stabilizing force. Its deep ties to the U.S. defense sector – with multi-year, high-margin contracts – offer a steady revenue stream that cushions any slowdown in the private market. 'Palantir checks all the boxes of an exciting, growing company that's at the intersection of two major trends: enterprise AI adoption and national defense modernization,' the investor sums up. 'Analysts say Hold, but history says otherwise.' Unsurprisingly, Orford gives PLTR shares a Strong Buy rating. (To watch Orford's track record, click here) The analyst consensus on PLTR is indeed a Hold, based on 10 Hold ratings, 4 Buys, and 3 Sells. The average 12-month price target stands at $109.50, implying a 31% downside from current levels. (See PLTR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
UPI
3 hours ago
- UPI
Trump announces U.S. deal with European Union to impose 15% tariff
U.S. President Donald Trump waves to the media while playing golf at Turnberry Golf Club in Scotland on Sunday. He later met with European Commission President Ursula von der Leyen. Photo by Hugo Philpott/UPI | License Photo July 27 (UPI) -- President Donald Trump on Sunday announced 15% tariffs on most foreign goods from the European Union, down from the threatened 30%, as part of a trade agreement with the 27-nation bloc. Trump announced the deal at his Turnberry Isle Country Club in Scotland after his public session with European Commission President von der Leyen. Trump said the European Union won't impose new tariffs on U.S. imports. During the meeting with the media, both leaders said the chance of a deal was 50-50. "You are known as a tough negotiator and dealmaker," von der Leyen told Trump, with reporters on hand. Leyen said the agreement "will bring stability. It will bring predictability. That's very important for our businesses on both sides of the Atlantic." Trump said the deal was "satisfactory to both sides." The European Union is the largest U.S. trading partner with $605 billion in goods yearly. The products are mainly drugs and pharmaceuticals, primarily from Ireland, as well as aircraft and heavy machinery, mainly from France and Germany. The 50% tariffs on steel, like most other nations, would remain and more duties could happen for pharmaceutical products, as well as semiconductors. Trump has also threatened a 200% tariffs on any drugs imported to the U.S. Trump said the deal would be "great for cars" and agriculture. Trump has previously noted that few American cars are sold in Europe. On April 2, he said he would impose a 20% duty against the EU, with most trading nations imposed a baseline 10%. He paused the retaliatory tariffs on April 9 for 90 days. In a letter to EU nations on July 12, the U.S. president threatened 30% retaliatory tariffs to take effect on Aug. 1. "Imposing 30% tariffs on E.U. exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic," von der Leyen said after Trump's letter. Letters to other nations have threatened tariffs as high as 50%, including to Brazil. The Trump administration has been negotiating with other nations, including reaching deals with China (30%), Japan (15%), Indonesia (19%) and Vietnam (20%). Britain, which is not part of the European Union, has a reduction in some tariffs of 10% on up to 100,000 vehicles and 25% on steel and aluminum. Last year, the average U.S. tariffs on imports from the EU was 1.2%, according to Capital Economics' chief Europe economist. The deal with the European Union is part of a broader trade agreement. EU had a $58.7 billion overall trade surplus with the U.S. in 2024. For goods, it was $168.6 billion but the deficit was $126 billion in services trade. "The European Union is going to agree to purchase from the United States $750 billion worth of energy," Trump said. The E.U. would also invest $600 billion into the United States. In 2024, the bloc bought nearly $400 billion in goods. Michael Brown, a senior research strategist at British-based Pepperstone brokerage, told The New York Times that U.S. defense companies likely will emerge as winners from the deal.
Los Angeles Times
5 hours ago
- Los Angeles Times
U.S. and European Union announce a trade framework
EDINBURGH, Scotland — The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Trump and European Commission chief Ursula von der Leyen. A White House deadline was days away from imposing punishing import taxes on the 27-member EU, which is America's leading global trading partner. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Trump said. The make-or-break talks were meant to head off trade penalties — and promised retaliation from Europe — that could have sent shock waves through economies around the globe. Trump and Von der Leyen held private talks at one of Trump's golf courses in Scotland, then emerged a short time later saying they had reached an 'across the board' agreement. In remarks before the session, Trump pledged to change what he characterized as 'a very one-sided transaction, very unfair to the United States.' 'I think the main sticking point is fairness,' he said while also noting, 'We've had a hard time with trade with Europe, a very hard time.' Von der Leyen had said the U.S. and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. Trump said the stakes involved meant a deal should be pursued. 'We should give it a shot.' Von der Leyen said Trump was 'known as a tough negotiator and deal maker,' which prompted the president to interject, 'But fair.' She said that, if the agreement is successful, 'I think it would be the biggest deal each of us has ever struck.' For months, Trump has threatened most of the world with large tariffs in hopes of shrinking major U.S. trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled export tax rate of 30%. The Republican president pointed to a recent U.S. agreement with Japan that set tariff rates for many goods at 15% and suggested the EU could agree to something similar. Asked whether he would be willing to accept tariff rates lower than that, Trump said, 'No.' As for the threat of retaliation from the Europeans, he said: 'They'll do what they have to do.' Their meeting came after Trump played golfed for the second straight day at his Turnberry course. The president's five-day visit to Scotland is built around golf and promoting properties bearing his name. A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Trump on Monday. Other voices could be heard cheering and chanting, 'Trump! Trump!' as he played nearby. On Tuesday, Trump will be in Aberdeen, in northeastern Scotland, where his family business has another golf course and is opening a third next month. The president and his sons plan to help cut the ribbon on the new course. Joining Von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Bjorn Seibert, the head of Von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade; and Tomas Baert, head of trade and agriculture at the EU's delegation to the U.S. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but was now firm, the administration said. 'No extensions, no more grace periods. Aug. 1, the tariffs are set, they'll go into place. Customs will start collecting the money and off we go,' U.S. Commerce Secretary Howard Lutnick told 'Fox News Sunday.' He added, however, that even after that, 'people can still talk to President Trump. I mean, he's always willing to listen.' Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, including such diverse items as beef, auto parts, beer and Boeing airplanes. If Trump eventually made good on his threat of tariffs against Europe, it could mean that items including French cheese, Italian leather goods, German electronics and Spanish pharmaceuticals would be more expensive in the United States. The U.S. and Britain, meanwhile, announced a trade framework in May and a larger agreement last month during the Group of 7 meeting in Canada. Trump says that deal is concluded and that he and Starmer will discuss other matters, though the White House has suggested it still needs some polishing. Weissert writes for the Associated Press.
