Seana Smith

    Host

    Seana Smith co-hosts Yahoo Finance’s closing bell coverage from 3-5 p.m. ET. Previously, she anchored ‘The Ticker’ and ‘Midday Movers’ on Yahoo Finance, and spent time reporting from the floor of the New York Stock Exchange. Before joining Yahoo Finance, Seana worked as a writer and producer at Fox Business. Seana holds a master’s degree in economics and a bachelor’s degree in journalism with a minor in business from Lehigh University

  • Fed won't be able to cut rates in 2024: Fmr. economic advisor

    The United States GDP (gross domestic profit) grew by only 1.6% in the first quarter, the smallest increase in over two years. The Federal Reserve has seemingly elected to wait for more inflation data and keep interest rates where they are as inflation continues to be hard to nail down. Wall Street experts have gone back and forth over when the Fed will cut rates, if it will even cut rates in 2024, and the slim chance of rates being pushed higher. Harvard University's Kennedy School of Government Professor Jason Furman joins Yahoo Finance to discuss the health of the economy and his theory on how — or if — the Fed will follow through with rate cuts this year. "The big surprise here was that at an annual rate in the first quarter, core PCE inflation — which is basically what the Fed is looking at — was a 3.7% annual rate. As recently as two months ago, that was expected to be 2.1%. Forecasters thought, mission accomplished," Furman, who was the Council of Economic Advisors Chair during the Obama Administration, assesses. "Instead, we now have a red flashing warning sign. The Fed will not be able to be reassured enough about inflation to cut rates any time this year... The only thing that's going to get us Fed rate cuts any time soon is a much more rapid deterioration in the job market than I expect to get or hope to get, but that's the contingency under which the Fed cuts rates before December. " For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino

  • Demand for Gen AI is incredibly strong: ServiceNow CFO

    Shares of ServiceNow (NOW) are dipping on Thursday despite the company posting first quarter results that show revenue increased 24% to $2.6 billion. However, the company reported a sales growth forecast for the second quarter that was slightly softer than analysts had been expecting. ServiceNow CFO Gina Mastantuono joins Yahoo Finance to give insight into the company's performance, its focus on generative AI, and more. Mastantuono talks about the fervor over generative AI: "Every CEO and CFO I'm talking to is leaning into what gen AI can do for their business. IDC is talking about $11 trillion impact from gen AI over the next three years, and businesses spending half a trillion in US dollars on AI by 2027, and so we've been innovating on the platform with our gen AI SKUs. In fact, we just launched, two quarters ago, in our gen AI SKUs are the fastest growing product launch we've seen in our history. It's been in seven of the top ten deals this year included gen AI. We have customers like Microsoft (MSFT), Novartis (NVS), Hitachi Energy really leaning into our gen AI offerings and it's continuing to innovate on the platform and giving our customers more capabilities as they look to strengthen their AI strategies over the coming year." For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino

  • Merck raises 2024 guidance on cancer drug demand

    Shares of Merck & Company (MRK) are trading higher early Thursday after the pharmaceutical giant posted robust sales results in the first quarter, leading the pharmaceutical giant to raise its 2024 outlook. The company's performance was driven by strong demand for its cancer drug Keytruda. Yahoo Finance's Anjalee Khemlani breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith

  • Chipotle is using AI to better understand customer habits: CFO

    Shares of Chipotle (CMG) are rising as the fast-casual food chain posted its first-quarter earnings, revealing same-store sales jumped 7% year-over-year. In addition, multiple financial firms have raised their price targets over the success of the company. Is there more to the secret sauce of Chipotle's success? Chipotle CFO Jack Hartung is joined by Yahoo Finance Executive Editor Brian Sozzi on the Morning Brief to discuss the increase in worker wages in California after the passing of the FAST Act, Chipotle's performance, and the overall health of the consumer. "We're starting to experiment with gathering customer data, gathering what are the visit habits, what are the buying habits when they do visit," Hartung elaborates on the chain's implementation of artificial intelligence. "And using AI to help us understand when customers' habits are changing, is there some action we can take like if somebody is starting to visit less or they're starting to spend less when they come? If that happens, what can we do in terms of making an offer that is relevant to that customer?" For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino

  • Pending home sales rise more than expected in March

    Pending home sales rose 3.4% in March, much more than the 0.4% economists had been expecting. According to the National Association of Realtors, sales in the Midwest fell month-over-month, while they rose elsewhere. In the release, NAR Chief Economist Lawrence Yun says "Meaningful gains will only occur with declining mortgage rates and rising inventory." Yahoo Finance's Seana Smith and Brad Smith report the breaking data. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Stephanie Mikulich.

  • Comcast Q1: Broadband subscriber loss weighs on stock

    Shares of Comcast (CMCSA) are trading lower Thursday, after the media giant reported its first quarter results. While the company added 3 million paid subscribers to its streaming platform Peacock, it reported a wider-than-expected loss in broadband customers. However, the cable company's earnings did top estimates. Yahoo Finance's Brad Smith and Seana Smith break down the details of Comcast's quarterly performance, dissecting the factors behind the company's strengths and weaknesses. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Rubrik to debut on NYSE, IPO priced at $32 per share

    Data management software company Rubrik (RBRK) is poised to make its highly anticipated debut on the New York Stock Exchange. The initial public offering (IPO) will see the company's shares listed on the exchange under the ticker symbol "RBRK" with an initial offering price of $32 per share. Rubrik is backed by Microsoft (MSFT), which holds a stake in the company. Yahoo Finance Executive Editor Brian Sozzi sheds light on the company's operations and what this listing means for the broader technology sector. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Market pressure is 'normal' despite slowing GDP: Strategist

    The first-quarter US GDP (gross domestic product) print grew by 1.6%, a slower pace than was expected for the quarter. Carson Group Chief Market Strategist Ryan Detrick joined the Morning Brief to discuss his market outlook following pressures sparked by the latest data print. Detrick points out that, historically, markets "tend to be a little weak" at the start of an election year, calling the current market environment "normal." He is not "overly concerned that the economy's slowing down" when taking the GDP print into account. Detrick expresses optimism that the economy is moving in the right direction, stating that "inflation's not perfect"; however, he still believes that two to three interest rate cuts could materialize in 2024. On the earnings front, with markets spooked after Meta Platforms' (META) earnings report and second-quarter guidance, Detrick cautions against drawing broad conclusions from a single company's performance: "It's hard to just say one company matters for everybody." However, he advises adopting a neutral stance on Big Tech due to group's pricy stocks. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • American Airlines forecasts better-than-expected profit for Q2

    American Airlines (AAL) posted its first quarter results, revealing a revenue of $12.57 billion, just shy of the $12.60 billion estimate. Shares of the company are moving higher however, as the company reiterated its forecast of adjusted earnings of $2.25 and $3.25 per share for all of 2024. Yahoo Finance Brad Smith and Seana Smith break down American Airlines Q1 report. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino

  • Economy is strong, inflation progress is just slow: Economist

    US GDP (gross domestic product) grew by 1.6% in 2024's first quarter, as reported by the US Bureau of Economic Analysis, though still falling short of estimates. With interest rates and inflation still running high, what does the GDP print indicate about the strength of the US economy? Sahm Consulting Founder Claudia Sahm deciphers how GDP plays into current economic outlooks as the Federal Reserve juggles its objectives to bring inflation lower. "Today we got hit, imports had a bigger drag, that's a very noisy series. Inventories were a little in the play. These are not things that should change our view on the economy," Sahm tells Yahoo Finance. "It's been strong. It continues, the underlying pace continues to be strong. That's not bad for the Fed... Frankly, the Fed thinks it can lean on a strong economy." Sahm, a former Federal Reserve Board economist for whom the Sahm Rule recession indicator is named after, goes on to say that the Fed and Chair Jerome Powell will "be driven by the data, and there's a lot of data we don't have yet." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

  • IBM stock plunges amid narrow Q1 revenue miss, HashiCorp talks

    IBM (IBM) shares are falling in Thursday's pre-market trading session, marking their worst single-day decline since 2021. This plunge comes in the wake of the company's first-quarter results, which fell short of revenue estimates. Morning Brief anchors Seana Smith and Brad Smith discuss the report, shedding light on IBM's potential acquisition of cloud service provider HashiCorp (HCP). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Meta's AI spending: 3 reasons why it's worth it, analyst says

    Shares of Meta (META) fell sharply Thursday, after the tech giant released its first quarter results and provided a softer outlook for the second quarter due to increased spending on artificial intelligence (AI) and operational investments. RBC Capital Markets Internet Analyst Brad Erickson joined the Morning Brief to discuss Meta's spending plan. Erickson views the pressure on the stock price following the report as an "overreaction." He notes that although Meta beat on revenue and guidance figures, "the issue was obviously cost." Despite the potential for increased costs, Erickson emphasizes that the company is "still very very focused" on controlling expenses. However, he highlights that the money spent will be invested in areas such as infrastructure for "product development in the future." Erickson notes Meta's investments into AI and operational spending serve three key purposes: First, it helps them develop "probabilistic models" to enhance the performance of ad campaigns. Second, it aids in recommending content, thereby improving the algorithm's effectiveness. Lastly, it increases "users' utility of Meta." Erickson believes that these factors contribute to future revenue growth, balancing out the increased spending. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Stocks open lower on US GDP print, tech earnings

    The major stock market averages (^DJI, ^IXIC, ^GSPC) are opening Thursday lower on the first-quarter GDP print and Big Tech stocks earnings results. The Morning Brief's Seana Smith and Brad Smith monitor the market action after the opening bell, while Senior Markets Reporter Jared Blikre takes a closer look at these stocks' performance entering the morning session: Altria Group (MO), Caterpillar (CAT), and Southwest Airlines (LUV). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

  • Southwest Airlines slashes Boeing delivery target in Q1 miss

    Southwest Airlines (LUV) stock is spinning out in Thursday's pre-market session, falling after the airline operator slashes its expectations for the number of Boeing 737 Max jets (BA) it will receive in 2024. Amid safety concerns and several probes by federal regulators, Boeing is experiencing a backlog in aircraft deliveries it has promised to operators. Morning Brief Co-Hosts Seana Smith and Brad Smith report on Southwest's earnings results and its capacity forecasts. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

  • Summer travel: Could Boeing's issues impact airfare costs?

    Boeing (BA) has faced a litany of issues including a mid-air incident on an Alaska Airlines flight in January, production challenges, and backed-up delivery orders. With a backlog of jets yet to be produced for airlines, these problems will easily trickle down to impact consumers directly, as they gear up for the summer's peak travel season. Yahoo Finance's Seana Smith breaks down Boeing's troubles and what consumers need to know before they book their next big trip. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino

  • Tesla's cheap EV plans will likely be stuck in 'Tesla time'

    Tesla (TSLA) CEO Elon Musk felt especially ambitious in the EV maker's first-quarter earnings call, weighing in on Tesla's timeline for an affordable EV and the outlook for developing its robotaxi service. Many on Wall Street are skeptical about Tesla's re-focusing on next-gen products while engaging in a price war in China through price cuts on its vehicles. Tesla missed its first-quarter earnings estimates, posting $21.3 billion in revenue and adjusted gains of $0.45 per share. Autoblog Editor-in-Chief Greg Migliore joins Yahoo Finance to lay out the criticisms Tesla is facing after its most recent earnings, calling investments into robotaxis "the graveyard of where automakers go to, maybe not die, but waste a lot of money." Migliore also points out how efficiently and effectively traditional automakers would be at rolling out an affordable electric vehicle in the time that it takes for Tesla to develop and release its own. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Luke Carberry Mogan.

  • Apple has an uphill climb ahead in Chinese markets: Analyst

    While Apple (AAPL) deals with a lawsuit by the Department of Justice (DOJ), the Magnificent Seven member stock could be losing ground in one of its most valuable markets: China. Recently, reports have shown that iPhone sales have slumped in China. Is Apple up for the challenge to reinvigorate its position in international markets and how will all this manifest in its May 2 earnings release? TECHnalysis Research President and Chief Analyst Bob O'Donnell joins Yahoo Finance to give insight into Apple's largest problems in the domestic US market and abroad, and how the iPhone maker might go about solving them. "Between the iPhone sales, between the geopolitical issues in China, which is still a very big market for them, and now they're having to do a little bit more of what the Chinese government is requesting, Huawei is getting stronger in China. There's nationalistic movements there to try and pull some of the US companies out. The car project was canceled, which I think, in the long run, was the right thing to do, but it could have been interesting earlier if they kind of figured out a different path," O'Donnell lists off. "And of course, then, gen AI, what are they doing with gen AI? That's what everyone wants to know." For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino

  • One spending 'tailwind' that may be overlooked: Economist

    Uncertainty has engulfed the Federal Reserve's monetary policy path, with markets recalibrating their expectations in response to persistent high inflation data. RBC Capital Markets US Economist Michael Reid joined Yahoo Finance to discuss the his rate cut outlook. With new inflation prints scheduled for release this week, Reid's attention is focused on services spending, stating that it could drive overall GDP growth. Additionally, he emphasizes the importance of monitoring the housing sector and how the pressures in that market impacts PCE inflation. Reid expresses his expectation that "the labor market will remain tight." With more individuals retiring, he sees the unemployment rate staying lower and more upward pressure on wages. However, he also foresees a tailwind emerging from consumer spending driven by retirees, potentially fueling economic growth. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith

  • Citi strategist expects a 'beat and hold' earnings season

    Nearly three-fourths of the S&P 500 companies (^GSPC) that have reported their first-quarter results so far have posted positive earnings surprises, according to FactSet data. When speaking to Yahoo Finance last week, Evercore ISI's Julian Emanuel described the broader markets (^DJI, ^IXIC, ^GSPC) as having "digestion problems" this earnings season around positive results. Citi Director of US Equity Strategy Drew Pettit sits down with The Morning Brief in-studio to weigh in on earnings results, plainly stating that markets haven't "fully reset [the] risk/reward [ratio]" even when factoring in positive earnings data. "The overall theme we expect for this quarter is beat-and-old. That's not really exciting at this point. I think a lot of companies are going to use the run we've had year-to-date, especially in a lot of the growth names that have outperformed, to maybe temper expectations," Pettit tells Yahoo Finance. "Because we think the back half, it's going to get a little bit harder to beat, especially when we get to Q4." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

  • This is becoming a stock picker's market: Strategist

    With the earnings season in full swing, a broader diversification in the market has become evident. M&G Investments Chief Investment Officer Fabiana Fedeli joined Yahoo Finance to discuss her perspective on why markets should be analyzed on a stock-by-stock basis. Fedeli points out that in 2023, the market was hyper-focused on the 'Magnificent Seven' stocks. However, in 2024, "none of those Magnificent Seven are making it into the top 10 of the world's best-performing stocks." She notes due to these stocks having such a significant market share, even a small outperformance from any of them can significantly impact market indexes. Fedeli emphasizes the need to evaluate stocks on an individual basis, stating that even stocks in the same sectors and with the same drivers "are performing very differently" due to variations in company management and financials. She highlighted that this divergence is occurring among the Magnificent Seven stocks. Fedeli advises investors against attempting to "time the market." She explains that valuations are currently based on "expectations"— saying "If you like something, buy it; if you don't like it, stay away because the fact that there is short-term price momentum is not a guarantee that it's gonna last for the rest of the earnings season." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith