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- Yahoo Finance Video
4th of July travel, investing for beginners: Wealth!
On today's episode of Wealth!, Host Brad Smith breaks down some of the key themes impacting the markets (^DJI, ^IXIC, ^GSPC), from a struggling housing sector to record travel July 4th weekend. New home sales for the month of May fell over 11%, according to the US Census Bureau. KPMG senior economist Yelena Maleyev claims that it will be a while before the housing sector sees relief, only estimating one interest rate cut from the Federal Reserve by December: "We've pushed that forecast out into December, so we do expect one rate cut in December, which will help bring overall mortgage rates to perhaps around 6.5 by the end of the year. That's probably not what people who are waiting for those 3% mortgage rates are wanting to hear, but unfortunately, those days are behind us." She adds that a few more rate cuts in the pipeline could bring mortgage rates to 5.5%. US equity markets have hit record highs in 2024, largely spearheaded by the growth of semiconductor and chip stocks like Nvidia (NVDA). BlackRock US Head of Thematic and Active ETFs Jay Jacobs sits down with Brad Smith on Wealth! as part of Yahoo Finance's ETF Report to discuss several of BlackRock's notable iShares ETFs in relation to the growing AI landscape and the energy and digital infrastructure demands that come with mass adoption. The number of US households with direct stock ownership increased by 6% between 2019 and 2022, according to a Federal Reserve study of consumer finances. JPMorgan Wealth Management head of self-directed investing Andrea Finan says her biggest tip for beginner investors is to "find the experts ... Go to credentialized places to get information and learn. I really strive for people to become curious in investing and learn and use the tools..." Finally, as more than 24 million people are expected to fly out of US airports during the 4th of July weekend, Hopper Lead Economist Hayley Berg gives an overview of thee busy weekend ahead. She explains that summer travel prices have decreased, as airfares are down 18% in the US and hotel and rental car prices remain in line with previous years: "So those travelers who are getting away are definitely able to expand those travel budgets into things like activities and maybe some nice dinners out rather than spending as much on accommodations and flights." This post was written by Melanie Riehl
- Yahoo Finance Video
How Alibaba is using AI to 'empower' small businesses
The World Trade Organization is currently hosting its 40th Geneva Week in Switzerland, with an emphasis on small and medium enterprises (SMEs). Alibaba.com (BABA) president Kuo Zhang joins Wealth! to discuss his company's initiatives to support these enterprises globally. Zhang highlights Alibaba's commitment to serving SMEs, catering to sellers and buyers. The platform has a network of over 200,000 suppliers and more than 50 million buyers worldwide. He emphasizes Alibaba's role in providing tools and platforms "to transform the way they do business." Recognizing SMEs as "the backbones of the global business," Zhang outlines Alibaba's strategy to leverage digital tools "to empower" these enterprises across the globe, including developing regions in Africa and Asia. Zhang reveals that Alibaba is "heavily investing on the technology side" of AI with two primary objectives: enhancing platform efficiency for both sellers and buyers, and evolving the platform from "a sourcing engine to a creative engine." These advancements aim to streamline workflows for SMEs and "build trust between each other" on Alibaba.com. Addressing concerns about the impact of global elections on their business operations, Zhang emphasizes Alibaba's focus on "things that do not change." This includes their core SME customer base, products, target markets, and manufacturers. "We are back to the fundamentals," Zhang told Yahoo Finance, adding, "These are things we think are not going to change for a hundred years, so that's where we are focusing." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith Editor's note this post has been updated to correct Mr. Zhang's title and reflect that Alibaba's platform has more than 50 million buyers worldwide.
- Benzinga
What's Going On With Chinese E-Commerce Stocks Alibaba, PDD And More On Thursday?
Amazon.Com Inc (NASDAQ:AMZN) is set to launch a new section on its website dedicated to affordable fashion and lifestyle items, enabling Chinese sellers to ship directly to U.S. consumers. The storefront marks Amazon’s boldest move yet to counter rising competition from e-commerce platforms PDD Holdings Inc (NASDAQ:PDD) Temu and Shein. Chinese e-commerce stocks, ranging from Alibaba Group Holding (NYSE:BABA) to JD.Com, Inc (NASDAQ:JD) to PDD, are trading lower Thursday. Also Read: Alibaba Cloud’
