Investors hit the brakes on the AI trade this week. The market doesn’t seem as confident about AI as it once was, evidenced by the sell-off that tore through the sector on Tuesday. Top leaders in the AI sector — including Nvidia, Meta, and Palantir — all tumbled, thanks largely to concerns that tech stocks…
Tesla shareholders have just days left to vote on whether to approve a staggering pay package for chief executive Elon Musk that could award him nearly $1 trillion in shares. Musk could leave the company if shareholders reject the package, board chair Robyn Denholm warned in a letter to voters last week. The pay proposal…
It’s a great week to be Jensen Huang. Nvidia is the world’s first $5 trillion market cap company. Huang’s personal wealth has increased by $17 billion over just the past week. President Donald Trump is hinting that the US could not only open the Chinese market back to Nvidia but might even allow the chipmaker…
The Bengals defense held a players-only meeting after allowing 500 yards of offense to the Jets this past weekend, with Demetrius Knight expressing confidence in turning things around.While the play on the field hasn’t been the best, the clothing off it has. On the field, the NFL is pretty strict with how its players look,…
Stocks and the price of gold fell Wednesday, as momentum on Wall Street reverses. The Standard & Poor’s 500 index sank 0.5%, though it’s still within 1% of its all-time high set this month. The Dow Jones industrial average dropped 334 points, or 0.7%, from its record set the day before, while the Nasdaq composite…
It was one scandal too many. After emails emerged this week showing that Prince Andrew remained in contact with the convicted sex offender Jeffrey Epstein longer than he had previously admitted, the House of Windsor finally moved to insulate the monarchy from years of tawdry headlines about Andrew’s dodgy friends and suspicious business deals. Buckingham…
New tariffs on imported wood and certain wood products took effect on Tuesday. Softwood timber and lumber are now subject to 10% tariffs under a proclamation signed by President Donald Trump last month. Trump also imposed 25% import taxes on upholstered furniture, kitchen cabinets, and bathroom vanities. Those rates are slated to increase again on…
Teenagers are calling it: Lululemon leggings and Stanley cups are over. Three years ago, both these brands were beloved among teenage girls, in particular, according to investment bank Piper Sandler’s semi-annual Taking Stock With Teens survey. This fall, upper-income teens said they were among the top trends that are “on the way out.” Piper Sandler…
It’s a little after 9:30 a.m. on a recent weekday, and hair-netted workers at the Alhambra Unified School District’s central production kitchen are boxing up the last of 350 handmade sushi rolls for the city’s three high schools. The spicy tuna rolls, redolent of cooked fish blended with sriracha and mayonnaise, are a popular lunch…
If you turn on CNBC or Bloomberg at any given time, there’s a decent chance you’ll see a talking head discussing a bubble in AI stocks. It’s a pretty easy case to make if you use the historical playbook for identifying an overvalued market. Judging by traditional metrics, we’re flashing red. Even Fed Chair Jerome…