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December inflation, bank earnings, SEC sues Elon Musk: 3 Things

The latest Consumer Price Index (CPI) reading saw prices rise by 0.4% monthly and 2.9% annually in December, the inflation data in line with economist expectations. Core CPI — which excludes trends in food and energy costs — rose by 0.2% month-over-month and 3.2% year-over-year, both data sets below forecasts. Major banks JPMorgan Chase & Co. (JPM), Citigroup (C), Wells Fargo (WFC), and Goldman Sachs (GS) have all reported their first quarter earnings results, all of their respective shares rising in pre-market trading. The Securities and Exchange Commission (SEC) has sued billionaire Elon Musk, claiming he misled shareholders and failed to timely disclose his Twitter — now known as X — share purchases while he grew his stake in the company. Watch Yahoo Finance's full interview with outgoing SEC Chair Gary Gensler. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.

Yahoo Finance Video 22 minutes ago

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GS

WFC
Rigetti Computing CEO on hype after his stock explodes 48%

How do you know as an investor that you are witnessing a borderline bubble in a stock? When a company (or companies) that has made no money ever is trading like it makes lots of money today will make even more money in the future. Welcome to the vibe continuing to surround quantum computing stocks such as D-Wave Quantum (QBTS) and Rigetti Computing (RGTI). Both of these stocks have been on mind-blowing runs the past three months in part because of enthusiasm for AI and a super-hyped new quantum chip from Google called Willow. The quantum space has also seen considerable investor interest on the Yahoo Finance platform, with the community consuming everything they could on the companies and the sector.  So, have investors become too optimistic about quantum computing stocks? Yahoo Finance Executive Editor Brian Sozzi goes right to the source, talking at length with Rigetti Computing CEO Subodh Kulkarni. Rigetti’s stock has exploded more than 500% in the past six months, bringing it to an eye-watering $2 billion market cap. Interestingly, Rigetti has never turned a profit and has told investors it won’t be making profits anytime soon. In fact, it may have to raise more capital to fund its ambitions in quantum chips. Sozzi serves up a classic investor guide to one of the market’s hottest stocks out of the gate in 2025. For full episodes of Opening Bid, listen on your favorite podcast platform or watch on our website.

Yahoo Finance Video 1 hour ago

RGTI

RGTIW
Big Bank earnings, December CPI, FedSpeak: What to Watch

Market Domination Overtime anchors Julie Hyman and Josh Lipton detail the top stories to watch for on Yahoo Finance tomorrow, Wednesday, January 15. Major banks are preparing to launch the earnings season, with JPMorgan Chase & Co. (JPM), Citigroup (C), Wells Fargo (WFC), BlackRock (BLK), and Bank of New York Mellon (BK) all set to release their quarterly reports. On the economic data front, markets will receive a new Consumer Price Index (CPI) reading with economists expecting core CPI — inflation excluding food and energy prices — to hold steady at 0.3%, with headline inflation rising to 0.4% for the month of December. Additionally, several Federal Reserve officials are scheduled to speak, including Richmond Fed President Tom Barkin, New York Fed President John Williams, and Chicago Fed President Austan Goolsbee. Their remarks will provide further insights into the central bank's monetary policy direction. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Angel Smith

Yahoo Finance Video 14 hours ago

JPM

BLK

BK
Departure of potential Fink successor creates new CEO drama at BlackRock

A potential successor to BlackRock CEO Larry Fink is reportedly leaving the firm, narrowing the list of contenders to become the next boss of the world's largest money manager.

Yahoo Finance 17 hours ago

JPM

BLK
Quantum computing applications are 'real today': D-Wave CEO

It's been a tumultuous week for quantum computing companies, to say the least, with several stocks in the landscape — Quantum Computing (QUBT), D-Wave Quantum (QBTS), Rigetti Computing (RGTI), IonQ (IONQ) — selling off following comments made by Nvidia (NVDA) CEO Jensen Huang and Meta Platforms (META) CEO Mark Zuckerberg. Both tech executives share the sentiment that practical applications of quantum computing are years, if not decades, away from practical applications. Major quantum computing stocks are now soaring back to life in Tuesday's session. D-Wave Quantum CEO Alan Baratz sits down with the Morning Brief team to explain why quantum compute capabilities are "real today" and the company's investments in building out its infrastructure. "We have customers that are using our quantum computers today in support of their business operations, and we have demonstrated the ability to solve important problems in the area of material simulation on our quantum computers today in minutes," he tells Seana Smith and Brad Smith, "that it would take well over millions of years to solve on classical computers, including massively parallel GPU systems like what Nvidia builds." Catch up on Yahoo Finance's latest coverage of the quantum computing landscape: Quantum computing stocks fall following Zuckerberg commentsNvidia’s 'AI Godfather' forces a reset on the tech world’s next big bet: Morning BriefWhy Nvidia just crushed the quantum computing stock tradeQuantum computing stocks plunge after Nvidia CEO commentsRigetti, IonQ stocks plunge after Nvidia CEO says 'useful' quantum computing is decades awayWhy post-quantum security should be a top priority for DOD To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.

Yahoo Finance Video 21 hours ago

RGTI

RGTIW

QBTS
Eli Lilly misses 2024 revenue numbers, but GLP-1 pill may help

Global pharmaceutical company Eli Lilly's (LLY) preliminary 2024 revenue missed expectations on lower-than-expected sales of its weight loss and diabetes shots. According to the company, sales are expected to hit $45 billion, below analysts' estimated $45.5 billion. Jared Holz, Mizuho's healthcare equity strategist, joins Morning Brief to share his insights, suggesting the market may be overreacting. Regarding Eli Lilly’s position in the pipeline for its next blockbuster drug, Holz notes that "they don't really have an obvious patent situation" like other companies in the pharmaceutical sector. Holz also highlights that Eli Lilly's pipeline, especially in GLP-1 treatments, remains promising for long-term growth. "The GLP-1 class is the most important category by far, and they're going to have oral data for a pill, I think, sometime in the first half of this year [toward] the spring, summer timeframe," he explains. "That could serve as a big catalyst for the stock." To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Josh Lynch

Yahoo Finance Video 22 hours ago

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PFE

MRNA
Core CPI Inflation Eases; S&P 500 Futures Jump, Fed Rate-Cut Hopes Rise (Live Coverage)

Consumer price index data for December showed that core price pressures eased more than expected. S&P 500 futures rose as Wall Street weighed the CPI's implications for Federal Reserve policy as well as positive earnings reports from Dow Jones giants JPMorgan Chase and Goldman Sachs. Stubbornly high inflation presents a problem for the Federal Reserve and the S&P 500 as President-elect Donald Trump is set to take office, because his policies are seen as likely to contribute to higher prices this year.

Investor's Business Daily 9 minutes ago

GS

JPM
Solid Results Lifted Wells Fargo & Company (WFC) in Q4

Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 2.04% in the fourth quarter, compared to a 2.41% return for the S&P 500 Index. The fund has returned 12.82% since its inception compared to the index return of […]

Insider Monkey 10 minutes ago

WFC
Cryptocurrency Prices And News: Bitcoin, Crypto Prices Jump On CPI Data

Cryptocurrency News: Bitcoin and cryptocurrency prices mounted an early rally Wednesday as Consumer Price Index (CPI) data for December showed that core price pressures eased more than expected. Bitcoin jumped near $99,000 early Wednesday from its Tuesday level around $96,000. Crypto prices traded lower Monday as the sell-off on the December jobs report and a jump in inflation expectations extended through the weekend.

Investor's Business Daily 10 minutes ago

COIN

BLK

HOOD
OS Therapies Announces Phase 2b Clinical Trial of OST-HER2 Achieves Primary Endpoint with Statistical Significance in the Prevention of Recurrent, Fully Resected, Lung Metastatic Osteosarcoma

NEW YORK, January 15, 2025--OS Therapies, Inc. (NYSE-A: OSTX), a clinical-stage biotechnology company advancing immunotherapies and targeted drug conjugates for cancer treatment, today announced positive data from a Phase 2b clinical trial (NCT04974008) of OST-HER2 (OST31-164) - the Company’s HER2-targeted immunotherapy candidate in the rare pediatric-designated indication of prevention of recurrent, fully resected, lung metastatic osteosarcoma. The data demonstrate statistically significant res

Business Wire 17 minutes ago

OSTX
Treasuries Surge as Easing Inflation Boosts Fed Rate-Cut Bets

(Bloomberg) -- US government bonds surged as benign inflation data prompted traders to resume betting the Federal Reserve will cut interest rates again by July.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesChicago Officials Pitch $1.5 Billion Plan to Fix Transit WoesThe rally lowered yields by at least 10 basis points on notes maturing in two to 20 years. It erased most of w

Bloomberg 19 minutes ago

GS
BlackRock Promotes Senior Executives Amid Wiedman’s Exit

(Bloomberg) -- BlackRock Inc. is elevating several senior executives to expand its business in the Americas and with key institutional clients, following the announced departure of Mark Wiedman, once seen as a potential successor to Chief Executive Officer Larry Fink.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesChicago Officials Pitch $1.5 Billion Plan to Fix Transit WoesJo

Bloomberg 22 minutes ago

BLK
Wells Fargo Q4 Earnings: Investors Cheer 50% Jump In Net Profit, ROE Improvement, Bank Expects Up To 3% Jump In 2025 NII

On Wednesday, Wells Fargo & Company (NYSE:WFC) reported a net income of $5.08 billion, up 47% year over year in the fourth quarter of 2024. The bank reported GAAP EPS of $1.43, beating the consensus of $1.34. Revenue remained almost flat at $20.38 billion. Analysts expected $20.59 billion. The U.S. banking giant reported a 7% year-over-year drop in net interest income to $11.84 billion driven by deposit mix and pricing changes, the impact of lower rates on floating rate assets, and lower loan ba

Benzinga 29 minutes ago

WFC
Insiders At Bank of New York Mellon Sold US$13m In Stock, Alluding To Potential Weakness

In the last year, many The Bank of New York Mellon Corporation ( NYSE:BK ) insiders sold a substantial stake in the...

Simply Wall St. 34 minutes ago

BK
Goldman Sachs wealth management sees double-digit revenue increase in 2024

A record year for private banking and other arms of Goldman Sachs.

Private Banker International 37 minutes ago

GSC
JP Morgan 2025: Incyte expects period of ‘defining catalysts’

Incyte announced plans for four launches in 2025, beginning with its FDA-approved Niktimvo for chronic GvHD.

Pharmaceutical Technology 40 minutes ago

INCY

JPM
JPMorgan Chase Fourth-Quarter Results Top Views Amid Broad-Based Growth

JPMorgan Chase (JPM) reported better-than-expected fourth-quarter results on Wednesday buoyed by gai

PREMIUM
MT Newswires 47 minutes ago

JPM
Citi Rolls Back Key Target Halfway Through Fraser’s Revamp

(Bloomberg) -- Citigroup Inc. lowered a crucial profitability target central to Chief Executive Officer Jane Fraser’s plan to turn around the bank, but offered investors a sweetener in the form of share buybacks.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesChicago Officials Pitch $1.5 Billion Plan to Fix Transit WoesIn a sign that it’s struggling to contain costs, the lende

Bloomberg 50 minutes ago

C
Inflation Rises Again, Hitting 2.9% in December

U.S. inflation picked up last month as gas prices rose sharply, though price gains for other goods were more muted.

The Wall Street Journal 51 minutes ago

MS

MS-PQ
Citi Swings to a Profit and Announces $20B Stock Buyback

Citigroup reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday.

Investopedia 58 minutes ago

C

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