The Daily Business and Finance Show - Saturday, 22 June 2024 We get our business and finance news from Seeking Alpha and you should too! Subscribe to Seeking Alpha Premium for more in-depth market news and help support this podcast. Free for 14-days!
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Welcome to the Daily Business and Finance Show. Exploring potential stock gains from a red sweep, Altria's FDA approval for e-cigarettes, and high-yield S&P 500 stocks. Unveiling Amazon's Alexa upgrade and new fee, Trump Media's initial proceeds, and the predicted big tech shift by 2025. Delving into record low-short interest on major U.S. equity ETFs, hems and hers defense amid Lily's battle with GLP1s and the S&P's three-week winning streak. Stay tuned after this short ad break to delve deeper into these intriguing financial headlines. This podcast brought to you by Ring. With Ring cameras, you can check on your pets to catch them in the act. Or just keep them company. Make sure they're okay while you're away with Ring, learn more at Ring.com/Pets. Analysts from UBS forecast market fluctuations in the lead-up to the U.S. presidential election, pinpointing shares that may benefit from a victory by Trump and a Congress dominated by the GOP. These potential winners encompass manufacturers such as tractor supply and deer, banking institutions like Bank of America and JPMorgan Chase, natural gas entities including ExxonMobil, pharmaceutical companies like Eli Lilly, financial service providers such as Goldman Sachs, Medicare Advantage Insurers Humana and UnitedHealth. Additionally, domestic semiconductor producers Intel and Texas Instruments, along with domestic car manufacturers Ford and General Motors, could also see gains. The Food and Drug Administration has granted Altria permission to advertise four men-ball-flavored electronic cigarette products. This is a pioneering move for not tobacco-flavored vapor items. The endorsement comes after a comprehensive scientific examination and is grounded on proof that these products are beneficial for adult smokers. Following this news, there was a minor rise in Altria's stock value. Currently, Wall Street is trading close to record highs. This has led investors who are in search of safety and income to pivot towards dividend stocks. Using the top 10 performers in the S&P 500 that offer a minimum dividend yield of 4%, we find names like Diamondback Energy, Williams Cost, and Hasbro. If you're looking for more diversified strategy, it might be worth considering the six largest dividend-focused exchange-treated funds. Examples include Vanguard Dividend Appreciation ETF or iShares Core Dividend Growth ETF. It suggests that Amazon is in the process of developing a superior version of its voice-activated assistant, Alexa. This enhanced version will feature advanced conversational artificial intelligence. Internally, this upgrade is referred to as Project Banyan. It's speculated that there may be an introduction of a $5 monthly subscription for access to premium services. Despite facing competition from Google and Apple who offer free virtual assistance, Amazon's goal is to enhance Alexa's accuracy and broaden its integration across various devices. Trump Media and Technology Group, which runs the Truth Social Platform, expects to receive more than $69.4 million from the cash exercise of warrants by June 2024. Should all warrants be exercised, the proceeds could potentially amount to as much as $247 million. In addition to this, there will be a release of $40 million in restricted cash, which will become unrestricted. This will supplement their current pool of $200 million in unrestricted funds. Anticipated earnings growth for major technology companies such as Nvidia, Apple, Google, Meta, Microsoft and Amazon is predicted to align with the rest of the S&P 500 by early next year. This forecast from Barclays indicates a possible expansion of the market. The expected comparable year-on-year earnings per share growth could trigger a more extensive rally if macroeconomic conditions continue to be favorable. The strategy team at JP Morgan has reported that the short interest on both the SPD-R S&P 500 ETF Trust and Invesco QQQ Trust ETF has reached record lows, which is currently supporting the U.S. stock market. However, they have issued a warning that any reversal could potentially have a negative impact on stocks. Additionally, they are predicting an outflow of $50 billion from equities due to rebalancing at the end of this quarter. Eli Lilly is escalating its legal actions against firms that are marketing compounded versions of its weight loss treatment known as terzapatide. In spite of this, Bank of America has stood by the telehealth platform HIMS and HERS Health. This company recently introduced a product similar to terzapatide. Alan Lutz has maintained by rating on the stock of HIMS and HERS, dismissing worries about potentially deceptive claims related to their products. The standard and poorest 500 index increased by 0.61 percent last week, achieving a significant milestone by surpassing the 5,500-points mark for the first time. In other news, chip manufacturer NVIDIA outperformed Apple and Microsoft to become the largest publicly traded company in terms of market capitalization. With some economic instability and profit-taking prior to Friday's event known as triple-witching, eight of the 11 standard and poorest sectors concluded in positive territory with consumer discretionary leading with a 2.5 percent rise. That's a wrap for today on the Daily Business and Finance Show. Stay informed, stay ahead. Until next time, keep investing in your financial knowledge. I'm Montgomery Jones. And I'm Amalia Duprey. Until tomorrow, farewell. This content is sourced from the Seeking Alpha website, so support our podcast by becoming a Seeking Alpha Premium subscriber. See the show notes page for links to sign up. This episode is produced by Classic Studios. This podcast provides information only and should not be construed as financial or business advice. Check out our other podcasts and our network at classicstudios.com .
