The Steross Market and Investing Thread
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Polds4OSU
Marshall
UnitedHealth stock plunges 20% on a shock forecast cut — and cracks the Dow wide open
UnitedHealth (UNH) shocked investors Thursday by cutting its 2025 profit forecast — and offering a sobering diagnosis: Older Americans are using more healthcare than expected, and the government is paying less to cover it.The insurance giant lowered its full-year adjusted earnings guidance to $26-$26.50 per share, down from $29.50-$30. That’s a major revision for one of the most stable companies in the Dow Jones Industrial Average — and it sent UnitedHealth’s stock plunging almost 20% in morning trading. That helped drag the Dow down 437 points, or about 1.1%
mugatu
Sheriff
Strange sell-off in the dollar raises the specter of investors losing trust in the US under Trump
Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar.
apnews.com
mugatu
Sheriff
It's only gonna get worse until the administration stops trying to punish the world for existing outside the US.
Polds4OSU
Marshall
Trump going off on the Fed again this morning.
Trump ramps up attacks on Powell, demands 'loser' Fed chair lower rates 'NOW'
"'Preemptive Cuts' in Interest Rates are being called for by many," Trump wrote on Truth Social.
Trump claimed that there is currently "virtually No Inflation" in the U.S., and that costs for energy and "most other 'things'" are on the decline.
"With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," Trump wrote.
Trump's latest salvo against Powell — whom he appointed during his first administration — came as the president and his team are studying whether they can legally fire the central bank leader before his term expires in May 2026.
Powell has flatly stated that the president cannot remove him under the law.
Any attempt by Trump to fire Powell would likely trigger a steep sell off in U.S. equity markets, Evercore ISI vice president Krishna Guha told CNBC on Monday.
"If you start to raise questions about Federal Reserve independence, you are raising the bar for the Federal Reserve to cut. If you actually did try to remove the Federal Reserve chairman, I think you would see a severe reaction in markets with yields higher, dollars lower and equities selling off," Guha said on "Squawk Box."
"I can't believe that that's what the administration is trying to achieve," Guha said.
Link
mugatu
Sheriff
Fed Chair Won't Resign if Asked by President-elect Trump
Q: "Some of the president-elect's advisers have suggested that you should resign. If he asked to leave, would you go?" Fed Chair Jerome Powell: "No."
Can Trump fire Federal Reserve chair Jerome Powell?
The president said the central bank should lower interest rates, but Powell demurred – and now Trump wants him out
I'm sure this is helping the market and economy at large.
Polds4OSU
Marshall
Polds4OSU
Marshall
Breaking news: Tesla’s quarterly earnings plunged by 71 percent compared to the first quarter of 2024, the company announced, a bruising result that comes amid widespread backlash against CEO Elon Musk and his work with the Trump administration. https://wapo.st/3YchNrJ
Tesla's revenue fell 9% over the first three months of this year, a company earnings release on Tuesday showed.
The decline comes amid worldwide protests against CEO Elon Musk over his role in the Trump administration. https://abcnews.go.com/Business/tes...sk-backlash-damaged-bottom/story?id=121008566
Tesla's revenue fell 9% over the first three months of this year, a company earnings release on Tuesday showed.
The decline comes amid worldwide protests against CEO Elon Musk over his role in the Trump administration. https://abcnews.go.com/Business/tes...sk-backlash-damaged-bottom/story?id=121008566
mugatu
Sheriff
I'm guessing that is why Musk has said he is going to be stepping back from politics.
Before he goes, how do we undo the damage he’s done?
mugatu
Sheriff
Start with a new POTUS and Congress willing to be the legislature again.