Auto workers’ contracts with the Big Three automakers — Ford (F), General Motors (GM), Stellantis (STLA) — are set to expire at midnight. The United Auto Workers (UAW) union has threatened executives with the likelihood of a strike if certain benefits and wage demands were not met. Tech’s top names attended a forum on AI organized by Senate Majority Leader Chuck Schumer (D-NY) on Wednesday to discuss the need for proper regulation of artificial intelligence. Lastly, chipmaker Arm Holdings (ARM) is set to go public today on the Nasdaq, priced at $51 per share. Analysts are paying extra close attention to Arm’s IPO and its valuation for its significance to the IPO market and the tech industry’s pivot to generative AI. Yahoo Finance Live hosts Julie Hyman and Brad Smith provide a deeper analysis of this week’s top headlines.
Auto workers’ contracts with the Big Three automakers — Ford (F), General Motors (GM), Stellantis (STLA) — are set to expire at midnight. The United Auto Workers (UAW) union has threatened executives with the likelihood of a strike if certain benefits and wage demands were not met.
Tech’s top names attended a forum on AI organized by Senate Majority Leader Chuck Schumer (D-NY) on Wednesday to discuss the need for proper regulation of artificial intelligence.
Lastly, chipmaker Arm Holdings (ARM) is set to go public today on the Nasdaq, priced at $51 per share. Analysts are paying extra close attention to Arm’s IPO and its valuation for its significance to the IPO market and the tech industry’s pivot to generative AI.
Yahoo Finance Live hosts Julie Hyman and Brad Smith provide a deeper analysis of this week’s top headlines.
Reuters
NEW YORK (Reuters) -A slew of U.S. economic data on Thursday showed stronger-than-expected numbers that stoked worries about sticky inflation and reinforced the view that the Federal Reserve is likely to keep interest rates higher for longer. U.S. producer prices rose 0.7% in August, compared with expectations of a 0.4% increase. U.S. retail sales also climbed 0.6% last month, against estimates of a 0.2% rise, while initial jobless claims for the latest week fell to 220.000.
The Wall Street Journal
At [roughly $5 billion](https://www.wsj.com/finance/stocks/arm-set-to-price-ipo-at-52-a-share-214e3351), today’s [Arm Holdings IPO](https://www.wsj.com/tech/arm-ipo-date-stock-price-6522efd1) is expected to be the biggest initial public offering of 2023. It gives the chip designer a market value of about $54.5 billion. + The biggest company to list so far this year was in March, when the United Arab Emirates’ Adnoc Gas went public in its home country at a market valuation of just below $50 billion.
Reuters
TD, Canada's second largest lender, disclosed in August it had been cooperating with U.S. authorities, including the U.S. Department of Justice, in an investigation and said it expected fines and non-monetary penalties. Leo Salom, chief executive officer of TD Bank, the U.S. unit, said the disclosure was not related to its termination of the $13.4 billion deal to buy American regional lender First Horizon in May.
TipRanks
With the third quarter winding down, and the final quarter of the year almost upon us, it’s time to take stock of stock markets. Where are we likely to go in the next few months, and what are the likely forces to impact trading? In some recent comments on CNBC, Citi strategist Scott Chronert lays out his own belief that we’re likely to see some further gains. Chronert first points out that fears of a hard recession have faded, or as he puts it, “We’ve been pricing in a soft landing since the fir
Bloomberg
(Bloomberg) -- Wall Street bankers are dangling one of the steepest discounts in recent memory to bond investors as they look to offload billions of dollars of debt that’s been stuck on their books for months.Most Read from BloombergCaesars Entertainment Paid Millions to Hackers in AttackCiti Plans Job Cuts as It Revamps Top Management StructureChina Sows Fresh Confusion About Apple With Security RemarksLuxury Cruise Ship Full of Australians Stuck in Greenland ArcticFed on Alert for One More Hik
Benzinga
Real estate stands as a cornerstone of wealth generation, and as 19th-century British philosopher and economist John Stuart Mill once, said, "Landlords grow rich in their sleep." Landlords don't merely collect rental income; they also reap the rewards of property value appreciation. While it's nice to collect monthly rental income from an investment property, being a landlord does come with hassles. Don’t miss: Investing in real estate just got a whole lot simpler. With as little as $100, averag
The Wall Street Journal
A crash in the shares of electric-car startup VinFast Auto is serving as a warning: One of Wall Street’s hottest financial trends in recent years often ends with everyday investors getting burned. The Vietnamese firm last month became one of the latest startups to go public by merging with a shell company, an alternative route to the stock market that became popular during the pandemic. For some, the big stock moves are reminiscent of another pandemic phenomenon that resulted in many individual investors losing money: the trading frenzy that turned struggling companies such as GameStop into meme stocks.
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