Markets kick off trading erasing some of the gains of the last few days, but where are stocks going for the long term? Washington Crossing Advisors' Matthew Battipaglia says economic and earnings fundamentals will drive markets for patient investors.
We also take a look at recent results from Coach parent Tapestry and Michael Kors. Both companies reported better-than-expected results for the holiday quarter, driving shares higher. We take a look at if that means they'll be able to weather the changing retail landscape.
And Blue Apron shares popped after earnings Tuesday morning. The meal-kit delivery company said revenues fell less than expected in the latest quarter and that it upped spending on marketing. But is this enough to keep the company afloat, or will it have to find a buyer?
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.
