LIVE Trump Treasury secretary nominee Scott Bessent's confirmation hearing Euronext - Delayed Quote • EUR (QD66V.NX) Follow Compare 0.1350 0.0000 (0.00%) At close: January 6 at 9:56:13 AM GMT+1 Related News Why the tech industry is cozying up to Trump the second time around The tech industry is going all in on Trump for his second term, starting with his inauguration. Morgan Stanley and Bank of America report robust Q4 earnings Big Bank earnings are rolling out this week, with Morgan Stanley (MS) and Bank of America (BAC) more than doubling in quarter four after a spike in dealmaking. Mac Syke, Gabelli Funds portfolio manager, joins Morning Brief to discuss earnings season and the banks’ surge in quarter four. Syke discusses the favorable environment for banks today. "We now have a normalized curve, so instead of the inversion [there is] a pretty normalized real rate," he explains. "We have regulations that are going to be easier, so that boosts M&A." Syke also adds that the "consumer activity has been very good." Additionally, Syke points to how Bank of America's trading underperformed compared to rivals but says repricing of legacy investments is "going forward over the next several years" to boost net interest income. Watch the video above to hear Syke's full insights on how these factors are shaping the future of Big Bank earnings. 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 Target raising Q4 sales forecast on record holiday sales Target (TGT) is raising its fourth quarter sales forecast as the retailer reports record-high sales figures from its Black Friday and Cyber Monday promotions. The stock is under pressure on Thursday morning, with Wall Street attributing it to the chain's EPS (earnings per share) guidance below current expectations. Seana Smith and Brad Smith report more on this headline and what it means for the broader retail sector. Catch Yahoo Finance's latest reporting on December's key retail sales data. 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. Bessent hearing, Bank of America, retail sales: What to Watch Market Domination Overtime anchors Julie Hyman and Josh Lipton outline critical market events to watch for tomorrow, Thursday, January 16. Treasury Secretary nominee Scott Bessent will face the Senate for his confirmation hearing at 10:30 a.m. eastern time, continuing the series of Cabinet confirmation proceedings for President-elect Donald Trump's administration. The financial sector is in focus with Bank of America (BAC), Morgan Stanley (MS), and US Bancorp (USB) scheduled to report earnings. Additionally, chip giant Taiwan Semiconductor Manufacturing Company (TSM) and healthcare leader UnitedHealth Group (UNH) will also release their quarterly reports. Investors will also receive December's retail sales report, providing insights into consumer spending patterns and overall economic health. 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 How the LA wildfires may hit Big Bank earnings in 2025 Howard Capital Management CEO and CIO Vance Howard joins Wealth host Brad Smith to discuss his earnings outlook amid the Los Angeles wildfires. Howard warns that the Southern California fires could trigger bank defaults, potentially impacting earnings. "I don't think people have calculated that in yet because it just happened over the past three or four or five days," he explains. He advocates "patience" with bank stocks, noting that if defaults increase, earnings could be affected through the third and fourth quarters. With nearly 12,000 homes lost in Los Angeles, Howard predicts some homeowners may walk away from their mortgage obligations. "That's something to think about," he comments. JPMorgan Chase (JPM) touted record annual profits of $58 billion for 2024 in its latest earnings results. Looking beyond the banking sector, Howard identifies Salesforce (CRM) as a potential outperformer for 2025. Follow along Yahoo Finance's recent coverage of the Southern California forest fires and the insurance industry: Wildfire recovery must address insurance: Rep. Mike FloodSouthern California Edison parent's stock falls amid investigation, lawsuit over alleged role in LA wildfiresCalifornia fires spark insurance crisis, projected losses of $150BInsurance stocks tumble as LA blazes 'among the most costly wildfires' in California historyCalifornia homeowners insurance market tested as fires rageThe risk landscape for insurance in 2025: AXIS CEO talks coverageKey insurance advice amid Southern California wildfires To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Angel Smith Broadcom, IBD Stock Of The Day, Showing Strength After Breakout Broadcom is the IBD Stock Of The Day as shares of the fabless chipmaker and infrastructure software provider show strength in a turbulent market. Top Midday Stories: UnitedHealth Revenue Misses Estimates; Morgan Stanley, Bank of America Report Earnings Beats The Nasdaq was down while the S&P 500 and the Dow Jones Industrial Average were little changed aroun Nvidia Just Made a Huge AI Chip Shift--And It Could Shake Up the Entire Industry The AI giant is ditching one packaging tech for another, and TSMC's revenue could take a hit. UnitedHealth Just Tanked 4.6% This Morning--Is This a Buying Opportunity or a Red Flag? Medical Costs Surge, Investors Panic--But Is Wall Street Overreacting? Why BigBear.ai BBAI Stock Is Surging Today BigBear.ai (BBAI) stock is jumping 12% today. BBAI “provides artificial intelligence-powered decision intelligence solutions.” The company’s shares are rallying after it announced yesterday after the market closed that it had hired a new CEO. Specifically, the firm disclosed that it had tapped Kevin McAleenan as its new CEO, effective yesterday. McAleenan replaced Mandy Long, who […] UnitedHealth Patient Care Costs, Revenue Disappoint Street (Bloomberg) -- UnitedHealth Group Inc. shares fell after elevated medical costs persisted in the fourth quarter and revenue missed estimates.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesChurches, Cinemas — and Moon Artifacts — Top List of Endangered MonumentsAs E-Bikes Boom in NYC, Some Call for More RegulationsNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesThe biggest US health insurer’s UnitedHealth Group CEO: US health care needs to be ‘less confusing, less complex and less costly’ In its first results since its insurance unit CEO was fatally shot in New York City, UnitedHealth Group reported Thursday weaker-than-expected fourth-quarter revenue, prompting its shares to fall in early morning trading despite quarterly profit beating projections. Symbotic Surges 20% on Walmart Deal--Unlocking a $5 Billion Potential Backlog Walmart is betting big on Symbotic's AI-powered robotics, fueling a massive stock surge and reshaping the future of retail automation. Bank of America Beats Fourth-Quarter Views as Investment Banking Fees Surge 44% Bank of America (BAC) reported stronger-than-expected growth in fourth-quarter results as investment Why Are FTAI Aviation (FTAI) Shares Soaring Today Shares of aircraft leasing company FTAI Aviation (NASDAQ:FTAI) jumped 8.2% in the pre-market session after the company responded to Muddy Waters's short report, saying that it "...believes that the recent report by Muddy Waters is an attempt to profit at the expense of FTAI's shareholders by manipulating the company's stock price. We strongly disagree with the assertions made by this notorious short-seller, several of which are sourced to a single, anonymous individual who is described only as ' FTAI Stock Bounces Back From Short-Seller Report Shares of aerospace aftermarket-services firm FTAI dove Wednesday after a negative report from a short seller. 9 of the 10 Largest Companies in the World Are Making Big Moves Into AI. Here's Why Investors Should Pay Attention. Artificial intelligence (AI) is driving the highest gains in the market, and several of the largest companies in the world today by market cap are only there because of AI. In fact, the five most valuable companies in the world are all making major inroads into AI, and the only one in the top 10 that's not is oil company Saudi Aramco. TSMC stock rises 5% as AI chip demand drives record net profit Taiwan Semiconductor Manufacturing Company’s (TSM) U.S.-listed shares rose by more than 6% at the market open on Thursday morning. Why UnitedHealth (UNH) Stock Is Retreating This Morning Health insurer UnitedHealth (UNH) is sinking 4% today after the company reported lower-than-expected fourth-quarter revenue this morning. Moreover, the company’s medical costs rose significantly faster than the premiums which it received. More About UNH’s Q4 Results The company’s Q4 sales climbed 6.4% versus the same period a year earlier to $100.8 billion, but that was […] Why Target Stock Tanked on Thursday Morning Shares of Target (NYSE: TGT) were sliding in Thursday morning trading after the retailer disappointed Wall Street with its updated guidance for fiscal Q4. Finance, Wall Street analysts had, on average, been expecting Target to earn $2.65 per share. This means Target will probably "miss earnings" when its official report comes out in March.