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Market News

Location American Market News for 22 July 2022

The Fine Print Cost a Widow a $464,000 Tax Deduction

Wall Street Journal - 22 Jul 2022 11:30
A large gift of American Indian artifacts went awry when the donor didn't have 'magic language' from the museum she gave it to
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Twitter blamed the revenue miss on ad industry headwinds and "uncertainty" tied to the pending acquisition of the company by Elon Musk.
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A New Bull Market Can't Start Until Investors Give Up

Wall Street Journal - 22 Jul 2022 11:30
For a new cycle to begin, people who bet on the market need to capitulate
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The first-ever cryptocurrency insider-trading case could have broad ramifications for the industry.
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China Billionaire Cuts Stake In Outperforming Nike Rival Xtep Xtep has thrived on growth in China consumer market
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Stock Market Breaks Winning Streak After Data Reveals 'Worrying Deterioration' In Economy Meanwhile, Bank of America economists doubled down on a projection that would mean the U.S. has already fallen into a technical recession.
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Inflation, Rate Hikes And JPMorgan Earnings: Forbes AI Newsletter - July 16th Subscribe to the Forbes AI newsletter to stay in the loop and get AI-backed investing insights, the latest news and more delivered directly to your inbox every weekend.
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Wheat Prices Fall After Russia-Ukraine Deal

Wall Street Journal - 22 Jul 2022 20:53
Wheat prices in Chicago are now at their lowest levels since February, after surging to records at the beginning of Russia's invasion of Ukraine.
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Dollar Maintains Its Currency Crown As Inflation Takes Bigger Bites Everywhere Else U.S. consumers and travelers gain while manufacturers suffer as Federal Reserve rachets up U.S. rates.
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Oil Doesn't Have to Boom for These Companies to Thrive

Wall Street Journal - 22 Jul 2022 18:18
Oilfield-service-company stocks are in the hole after demand concerns started pummeling oil prices. The reaction seems overdone.
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Snap Stock Tumbles as Digital-Advertising Concerns Spread

Wall Street Journal - 22 Jul 2022 18:11
Social-media companies warn that a slowing economy is weighing on their growth as the Snapchat parent's stock falls more than 30%.
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ITR Filing: Who Are Mandatory & Who Are Exempted To File ITR for AY 2022-23? Individual taxpayers whose accounts do not need to be audited have until July 31, 2022, to file their ITR for the fiscal year 2021-22 (AY 2022-23).
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Twitter Has No Right to Remain Silent

Wall Street Journal - 22 Jul 2022 17:22
The social-media company's shareholders seem overly fixated on Elon Musk as the company's fundamentals worsen.
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Even With a Ukraine Deal, World Grain Supplies Are Tight

Wall Street Journal - 22 Jul 2022 17:10
A deal to restart the war-torn country's agricultural exports was struck, but prices for staples like wheat and corn are set to remain high.
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Amazon Makes Moves In Healthcare With Plans To Acquire One Medical Amazon plans to acquire healthcare provider One Medical for $18 per share in a deal valued at $3.9 billion. Here's what it means for tech investors.
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Can Markets Close Out July Strong?

Forbes - 22 Jul 2022 14:47
Can Markets Close Out July Strong? With one trading week left for July, the S&P 500 is on pace to notch its biggest monthly gain since October of 2021.
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Verizon shares fell nearly 5% after the company released its second quarter earnings report.
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Does Draghi's Departure Means The End Of Italy's Recovery? Italy's populists have rejected Mario Draghi - perhaps the most credible and competent prime minister the country has had. Does this mean chaos for Italian assets and for the euro.
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Twitter Posts $270 Million Loss In First Earnings Report Since Elon Musk 'Terminated' $44 Billion Takeover Deal The company blamed broader economic headwinds and uncertainty around the Musk deal for its disappointing second-quarter performance.
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Paradise, the town destroyed by the 2018 Camp Fire, says it is near a debt default, heightening municipal bond investors' concerns over how a warming planet is adding risk to their $4 trillion market.
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American Express Revenue Up 31% as Spending Remains Robust

Wall Street Journal - 22 Jul 2022 14:21
The credit-card company says travel and entertainment spending are back to prepandemic levels.
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Will GM Deliver An Earnings Beat?

Forbes - 22 Jul 2022 14:00
Will GM Deliver An Earnings Beat? General Motors (NYSE:GM) is expected to publish its Q2 2022 results on Tuesday, July 26. We expect GM's revenue for the quarter to come in at about $35.8 billion, marking an increase of about 5% year-over-year. This woul...
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