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[ad_1] A trader works on the floor of the New York Stock Exchange on Oct. 20, 2023. Michael Nagle | Bloomberg | Getty Images Stocks traded higher Tuesday, as Wall Street tried to close out a dismal month of trading — that saw Treasury yields surge to levels not seen in more than 16 years — on a high note. The broader index rose 0.4%. The Dow Jones Industrial Average added 59 points, or 0.2%, while the Nasdaq Composite gained 0.3%. The S&P 500 advance was held in check mainly by communication services stocks, which was one of just two sectors trading in negative territory in afternoon trading. Notably, Alphabet, Meta Platforms and Netflix shares were all lower. Nvidia was down by more than 1%. The Cboe Volatility Index (VIX) dropped to an 18 handle, below the long-term average of roughly 20. A higher VIX level can point to greater uncertainty in markets. Earnings season continued Tuesday. Caterpillar slid more than 6% after the construction equipment maker said its fourth-...

[ad_1] Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. Anna Moneymaker | Getty Images Results were good, but not good enough. That's Wall Street's reaction to quarterly results on Tuesday from Alphabet and Microsoft . Both companies reported revenue and earnings that exceeded estimates, yet the stocks sold off in extended trading. In investor speak, the stocks were priced for perfection. Alphabet shares are up 56% for the year and climbed to a fresh high last week, exceeding the prior record from late 2021, the peak of the tech boom. Microsoft is up 70% over the past 12 months, also reaching a fresh high recently and surpassing Apple as the most valuable publicly traded company. The companies generated excitement last year by riding the artificial intelligence wave, and were also lauded by shareholders for their dramatic cost-cutting efforts, which included ...

[ad_1] Christian Petersen | Getty Images Sport | Getty Images Tensions are building among broadcast station owners and pay TV providers as the local rights to air NBA, NHL and MLB games go up for grabs. Broadcast station owners including E.W. Scripps Co., Gray Television, Nexstar Media Group and Sinclair have been in discussions with leagues and teams about potential deals to carry games on free over-the-air channels, according to people familiar with the matter, as long-held media rights for teams on regional sports networks unravel. Regional sports networks have owned almost all local sports rights for decades, but their viability is in doubt after tens of millions of Americans have been canceling cable TV in recent years. A shift to a model revolving around broadcast stations and direct-to-consumer streaming would upend the business that saw teams and leagues reap hefty fees. It would also boost broadcast station owners leverage in carriage negotiations — and potentially ac...

[ad_1] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 13, 2024.  Brendan McDermid | Reuters U.S. stock futures inched higher on Wednesday night as traders looked ahead to another inflation reading. Dow Jones Industrial Average futures rose 32 points, or less than 0.1%. S&P 500 futures advanced 0.1%, and Nasdaq 100 futures climbed 0.2%. In after-hours action, trading platform Robinhood popped 10% after the company reported a 16% increase in assets under custody in February from the prior month. Troubled electric vehicle startup Fisker tumbled 46% after The Wall Street Journal reported that the company has hired restructuring advisors to prepare for a potential bankruptcy filing. These moves come after the major stock indexes ended Wednesday's session with mixed activity. A sharp decline in the technology sector — particularly as Nvidia dropped 1.1% — pulled the S&P 500 and the Nasdaq Composite lower, with the two b...

[ad_1] Timothee Chalamet stars in Warner Bros.' "Dune." Warner Bros. LOS ANGELES – Warner Bros. has a sandworm-sized dilemma on its hands: Keep the fall release date for its highly anticipated "Dune: Part Two" and risk not having its star-studded cast promote it – or bump it into next year and potentially miss out on a dominant run at lucrative premium movie screens. As two Hollywood strikes rage on, movie writers and stars aren't permitted to hype their projects, due to strike rules. The longer the work stoppages keep going, the more likely it is studios will delay releases as production shutdowns choke the movie release pipeline. Already, a handful of titles – including Ethan Coen's "Drive Away Dolls," the sequel to "Ghostbusters: Afterlife" and the Emma Stone-led "Poor Things" – have moved to later dates due to the labor disruption. "Dune: Part Two," a science fiction epic based on Frank Herbert's semin...

[ad_1] Jimmy Butler #22 of the Miami Heat dribbles against Jamal Murray #27 of the Denver Nuggets during the fourth quarter in Game Five of the 2023 NBA Finals at Ball Arena on June 12, 2023 in Denver, Colorado. Justin Edmonds | Getty Images Sport | Getty Images The National Basketball Association's upcoming decision on which companies will acquire the TV and streaming rights for its live games could transform the entire media industry. Based on preliminary discussions between media executives and league officials, Comcast 's NBCUniversal, Google 's YouTube TV, Amazon , Apple and even Netflix may challenge or join the incumbents as rights holders, according to people familiar with the matter, who asked not to be named because the discussions are private. Spokespeople at NBCUniversal, YouTube, Amazon, Apple and Netflix declined to comment. Every media rights renewal for the NBA is an important event because it only happens about once a decade. The last rights deal was...

[ad_1] Rep. Mike Gallagher (R-WI) (C), chair of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, joins Rep. Elise Stefanik (R-NY) (L) and Majority Whip Steve Scalise (R-LA) for a news conference following a GOP caucus meeting at the Republican National Committee offices on Capitol Hill on February 28, 2023 in Washington, DC. Chip Somodevilla | Getty Images A group of lawmakers will travel to California to meet with tech and media executives, including Apple CEO Tim Cook and Disney CEO Bob Iger, to discuss China-related topics, CNBC has confirmed. Nearly a dozen lawmakers representing both parties on the House Select Committee on the Chinese Communist Party are set to make the three-day trip, led by Chair Mike Gallagher, R-Wis., a spokesperson for the committee told CNBC. Bloomberg and Axios previously reported details of the trip. The trip highlights how the committee's work could affect the tech and media i...

[ad_1] Sam Altman, chief executive officer and co-founder of OpenAI, speaks during a Senate Judiciary Subcommittee hearing in Washington, DC, US, on Tuesday, May 16, 2023. Congress is debating the potential and pitfalls of artificial intelligence as products like ChatGPT raise questions about the future of creative industries and the ability to tell fact from fiction.  Eric Lee | Bloomberg | Getty Images This past week, OpenAI CEO Sam Altman charmed a room full of politicians in Washington, D.C., over dinner, then testified for about nearly three hours about potential risks of artificial intelligence at a Senate hearing. After the hearing, he summed up his stance on AI regulation, using terms that are not widely known among the general public. "AGI safety is really important, and frontier models should be regulated," Altman tweeted. "Regulatory capture is bad, and we shouldn't mess with models below the threshold." In this case, "AGI" refers to ...

[ad_1] A currency dealer monitors exchange rates in a trading room at KEB Hana Bank in Seoul on June 21, 2021. JUNG YEON-JE | AFP via Getty Images Asia-Pacific markets fell Wednesday, with stocks in South Korea and Taiwan leading declines as major tech firms including chipmakers came under pressure after Barclays downgraded Apple . Apple shares  dropped  4% on Tuesday, after  Barclays cut the iPhone maker's rating to underweight and trimmed its price target to $160 from $161. Apple suppliers in major Asia markets fell, weighing down indexes in Taiwan and South Korea. South Korea's Kospi closed 2.34% lower at 2,607.31, while the small-cap Kosdaq fell 0.84% to end at 871.57. Most technology and chip stocks including Samsung Electronics, LG Corporation and SK Hynix fell about 3% each. The Taiwan Weighted Index shed 1.65%, with shares of Taiwan Semiconductor Manufacturing Company down 2.53% and Hon Hai, known internationally as Foxconn, falling 0.48%. India's factory a...