Yahoo Finance

Netflix will report second-quarter earnings after the bell today. Below is my breakdown of what to expect and the three things you should look out for... & check out my post (which will be updated with the results after the bell) here: https://lnkd.in/e_RTKNZG #netflix #earnings #yahoofinance #stockmarket #bigtech #earningsseason

Netflix reported second quarter earnings that beat expectations on Thursday but the stock fell as much as 6% in after hours trading after the streaming giant's outlook missed revenue expectations for the current quarter. Revenue hit $9.56 billion in Q2, an increase of 16.8% compared to the same period last year, as the streamer continued to lean on top-line initiatives like its crackdown on password sharing and ad-supported tier, in addition to last year's price hikes on certain subscription plans. https://lnkd.in/edSTUWxn

More than 35,000 borrowers will have $1.2 billion in student debt discharged under the public service loan forgiveness (PSLF) program, the Biden administration announced Thursday. The program impacts teachers, nurses, firefighters, social workers, and other public servants, including the military. Debt relief under PSLF now totals $69.2 billion for 946,000 borrowers since October 2021. Under the previous administration, only 2% or around 7,000 PSLF borrowers received forgiveness. “The additional Americans approved for PSLF today are hard-working public servants who will finally receive the financial breathing room they were promised,” Miguel Cardona, U.S. Secretary of Education, said in a press release. https://yhoo.it/3y6T2U3

Had so much fun hosting Yahoo Finance's Wealth! show earlier today, especially since I had the chance to speak with Jessica Markowski from Netflix's "Owning Manhattan." 🤩 We chatted about the current housing market, the realities of being a realtor, how to transition career paths and so much more... check it out below! #realestate #netflix #owningmanhattan #serhant #housing #realtor

Weekly jobless claims rose more than expected last week in the latest sign of a cooling labor market. New data from the U.S. Department of Labor showed 243,000 initial jobless claims were filed in the week ending July 13, up from 222,000 the week prior and above the 229,000 economists had expected. This tied with a weekly jobless claims reading from June for the highest level of weekly filings since August 2023. Meanwhile, the number of continuing applications for unemployment benefits hit its highest level since November 2021, with nearly 1.87 million claims filed in the week ending July 6, up from 1.85 the week prior. Jefferies US economist Thomas Simons reasoned that part of the uptick in weekly claims could have been caused by Hurricane Beryl displacing workers. Still, Simons noted that the trend in recent weeks for jobless claims has reflected more cracks emerging in the labor market. "The data of the past few weeks have been signaling incremental labor market weakness, albeit from a position of extreme strength," Simons wrote in a research note on Thursday. "It is still too early to tell if this is another step in the process of the labor market coming into better balance, or if it is the early stages of building momentum to the downside." The signs of weakness Simons called out have backed the case for the Federal Reserve to begin cutting interest rates soon, per multiple economists. On Monday, Goldman Sachs chief economist Jan Hatzius wrote in a research note that with inflation slowing, the Fed should consider interest rates as early as July, given the recent loosening in the labor market. More: https://lnkd.in/esk88h5k #yahoofinance #finance #economics #jobs #labor

The national debt is on the cusp of a grim milestone. Outstanding government debt stood at $34.9 trillion as of Tuesday, according to the latest data from the Treasury Department. That's a debt load that now represents over 120% of GDP. https://yhoo.it/3zVASoC

Investors are increasingly confident that the global economy is headed for a so-called soft landing, where inflation falls toward the Federal Reserve's target without high interest rates sending the economy into a tailspin. On Tuesday, markets began pricing in a 100% chance the Fed will cut interest rates by the end of its September meeting. This sentiment has contributed to a broad stock market rally, with investors rotating out of the high-flying technology stocks of the past year and into more interest-rate-sensitive sectors of the market. In the past five trading sessions, the equal-weight S&P 500, which ranks all stocks in the index equally and isn't overly influenced by the size of the stocks moving higher or lower, has outperformed the traditional market cap-weighted S&P 500. Real Estate and Industrials, both interest-rate-sensitive sectors, have been the market's biggest winners over the same time period, rising about 5%. Meanwhile, Technology and Communication Services are the only sectors with negative returns. Since the inflation report on July 11, the Russell 2000 is up more than 11% in the past five trading days, including a more than 3% bounce on Tuesday alone. Meanwhile, in that period, the S&P 500 is up just 1.5%. That means the small-cap index has outperformed the benchmark index by nearly 10 percentage points, the highest five-day outperformance on record, per Bespoke Investment Group. "The fact that the Russell 2000’s recent rally is both statistically and historically unusual tells us investor sentiment has shifted dramatically and the move very likely has further to run," DataTrek Research co-founder Nick Colas wrote in a morning note on Tuesday. More: https://lnkd.in/eACRC--a #yahoofinance #finance #economics #money #markets

We recently sat down with Brad Smith, the host of "Wealth!" on Yahoo Finance to discuss the findings of our Spend Z report. Our Chief Communications Officer, Marta Bowles, revealed Gen Z's spending power is set to grow to around $12 trillion (USD) globally by 2030, and that this generation is poised to spend more than any before. What categories are they targeting, and how do their consumption preferences differ from other generations? Find out by checking out the full segment: https://lnkd.in/ecm4RatY Or by reading the Spend Z report here: https://lnkd.in/eAzHn3-j #SpendZ #GenZ #YahooFinance #FMCG #ConsumerBehavior

Investors are increasingly confident that the global economy is headed for a so-called soft landing, where inflation falls toward the Federal Reserve's target without high interest rates sending the economy into a tailspin. In Bank of America's July Global Fund Manager Survey, released on Wednesday, 68% of respondents said a soft landing is the most likely outcome for the global economy in the next 12 months. This marked the highest percentage of respondents siding with such an outcome since January 2024. It tied for the second-highest reading in the past year. The call for a soft landing is in line with how fund managers are currently evaluating the balance of risks to markets. For the first time in six months, inflation wasn't the No. 1 risk listed by respondents. (Geopolitical conflict took the top spot this time.) The 585 respondents were surveyed between July 5 and July 11, meaning the last day of the survey coincided with a surprisingly positive reading on the Consumer Price Index (CPI) for June. That means many of the respondents may have submitted answers to questions before the inflation print that has recently sent markets roaring. But the shift is still notable and is the latest sign that markets are becoming more optimistic about the US economy, reaching the start of Federal Reserve interest rate cuts without significant deterioration in economic conditions. More: https://lnkd.in/eACRC--a #yahoofinance #finance #economy #economics #inflation #money

Gen Z — those born between 1997 and 2012 — will soon become the wealthiest generation ever, according to a recent report. The "Spend Z" report from NielsenIQ projects that Gen Z will have the fastest growth in spending power, reaching an estimated $12 trillion by 2030 and overtaking baby boomer spending by 2029. "The most prolific or significant thing that we noticed as we did our research ... was that Gen Z is ahead of other generations for where they were," Marta Bowles, NielsenIQ chief communications officer and head of marketing in North America, told Yahoo Finance. For example, the average 25-year-old earns an annual salary of $40,000, higher than all other generations when they were the same age. The higher incomes have resulted in bigger spending habits from Gen Zers. Gen Z is the “most valuable generation for brands to attract,” Jason Dorsey, Gen Z expert and president at The Center for Generational Kinetics, a generational research and strategy firm, told Yahoo Finance. "They have the greatest lifetime value." According to the NielsenIQ findings, per capita Gen Z spending is estimated to grow at a compound annual growth rate of 4.02% over the next decade, "exactly twice the speed of previous generations." More: https://lnkd.in/e3Nuv_iB #yahoofinance #finance #money #growth