Page 7 - Benzinga Pro News Today

China has become a highly competitive market for EVs, and companies are fighting tooth and nail to thrive.

Tesla's next catalyst is likely to be its annual shareholder meeting scheduled for June 13, while Rivian warned of near-term softness.

As high mortgage rates continue to influence the housing market, an increase in home sellers reducing their asking prices marks the highest level of price cuts in 18 months. Amid market adjustments, the median sale price still hit a record high this week, according to a Redfin report, pushing more potential buyers out of the market. With 6.4% of listings nationwide seeing price reductions — the most since November 2022 — and the median asking price dropping by roughly $3,000 last w...

"Today's value push is seemingly born out of necessity following year of inflationary pressure that is increasingly weighing on cost-conscious consumers," KeyBanc said.

Stocks look set to end May on a positive note, even as index futures pointed to a negative opening on Friday.

He said margins were thinning, competition from China was heating up and a major political candidate was stating that EVs are not in the future policy.

Palantir's first-quarter results released in early May showed that U.S. government revenue grew 12% year-over-year to $257 million.

Austan Goolsbee, President of the Chicago Federal Reserve Bank, highlighted that consumer delinquencies are among the most worrisome economic indicators currently being monitored. His concerns now appear prescient as new data reveal a significant uptick in delinquency rates in the first quarter of 2024. "If the delinquency rate of consumer loans starts rising, that is often a leading indicator that things are about to get worse," Goolsbee stated. Recent figures from the Federal Reserve...

DeFi lending and borrowing protocol Aave (CRYPTO: AAVE) is reportedly planning to launch its own blockchain after its upcoming V4 upgrade.