General News

GM to end production of Chevy Malibu as it shifts to EVs May 8, 2024 01:09PM

By David Shepardson

(Reuters) -General Motors said Wednesday it will end production of its gasoline-powered Chevrolet Malibu car later this year in order to produce new electric vehicles.

GM has sold more than 10 million Malibus since 1964 worldwide and will end production in November. The Detroit automaker is investing $390 million at its Kansas assembly plant to build next-generation Chevrolet Bolt EVs. GM halted production of the prior... (continue reading...)

Fed's Cook says households, banks, firms largely in solid financial shape May 8, 2024 01:35PM

By Howard Schneider

WASHINGTON (Reuters) - U.S. households, banks and firms are largely in solid financial shape, with the means at hand to cover debt payments and with strong enough buffers to absorb potential shocks, Federal Reserve Governor Lisa Cook said on Wednesday.

Even commercial real estate, which fell in value as workers shifted to home-based offices during the pandemic, poses "sizable but manageable" risks to the group of... (continue reading...)

Apple's WWDC event in June may also disappoint AI investors: analysts May 8, 2024 12:19PM

While much of the current Apple bull case is tied to the WWDC event next month and the artificial intelligence capabilities that may be unveiled, one analyst believes they may not be introduced until September. 

Bernstein said in a note this week that even though they continue to believe Apple (NASDAQ: AAPL) will unveil some AI capabilities at WWDC next month, "the majority of its AI functionality will be tied to iPhone 16 and introduced alongside the device in... (continue reading...)

Upcoming US election and equity implications from JPMorgan May 8, 2024 12:19PM

Investing.com - The upcoming U.S. presidential election looks set to be a divisive, closely fought contest, and JPMorgan explores the various scenarios and how to play the associated impact.

Tight U.S. Presidential election looms 

President Joe Biden and former President Donald Trump are set to face each other on Nov. 5 in what will be the first presidential rematch in nearly 70 years.

Trump may have a series of unprecedented legal challenges to overcome, but recent... (continue reading...)

Midday movers: Uber, Rivian, Twilio fall; Reddit and Arista rise May 8, 2024 11:31AM (Updated - May 8, 2024 11:31 AM EDT)

Investing.com -- Main U.S. indexes were flat Wednesday, as investors digested a series of quarterly corporate earnings ahead of comments from more Federal Reserve officials.

Here are some of the biggest U.S. stock movers today:

• Uber (NYSE: UBER) stock slumped 8.6% after the ride-hailing firm forecast second-quarter gross bookings below expectations after missing the target for the first three months.

• Apple (NASDAQ: AAPL) stock was... (continue reading...)