Oops, something went wrong Newsmax stock (NMAX) soared as high as 173% Tuesday, extending its massive 735% gain on Monday following the conservative cable news outlet's IPO. Newsmax raised $75 million in its IPO Friday, with shares priced at $10. The outlet's rapid ascent in its first two days of trading pushed its market cap to more than $20 billion Tuesday afternoon, with shares trading as high as $228. Read more about today's Newsmax stock moves and market action. “This incredibly successful offering, combined with our previous Preferred Offering, provides us with the capital and financial freedom to accelerate our growth initiatives, expand our programming, and further enhance our digital presence,” said CEO Christopher Ruddy, a media mogul and friend of President Trump who founded the company in 1998. Newsmax, which became a cable TV network in 2014, has faced an onslaught of critiques and legal battles for touting conspiracy theories. The company is facing an ongoing lawsuit from Dominion Voting Systems seeking $1.6 billion in damages related to false claims it made in its coverage of the 2020 election, which Newsmax cited among risk factors to its business in its latest 10-K filing to the SEC. Newsmax settled another lawsuit with another election tech company, Smartmatic, in 2024 for similar claims and has paid $20 million of the $40 million settlement thus far, according to the filing. The news outlet, seen as a Fox News alternative, also drew criticism when it reported false claims and conspiracy theories about the Jan. 6 attack on the US Capitol. While Newsmax's revenue soared roughly 26% to roughly $171 million in 2024, the company lost $72 million that year. The company also said in its filing that it has identified "material weaknesses" in its financial reporting controls such that there may be "a material misstatement" in its financial statements that it may not detect "on a timely basis." Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance

Oops, something went wrong A staple of Donald Trump's 2024 campaign trail rhetoric returned this week with a version of 20% "blanket" tariffs now apparently being considered as the president struggles to fill in the details of his “Liberation Day” promises. The potential move, applying to all or most goods imported to the United States, would represent a dramatic pivot of sorts for the president amid implementation worries and political complications that have dogged the White House's long-promised plan for more specific country-by-country duties. But it would also mark a return to an approach to trade that Trump has long championed despite varied warnings from economists that it could have the deepest of consequences for the US economy. The Yale Budget Lab Tuesday tabulated that a move toward true blanket tariffs would stoke inflation by more than 2% and — assuming no countermeasures from the Federal Reserve — create a loss of buying power of $3,400-$4,200 per household. The researchers added that 20% duties, if added on top of existing tariffs, would make the average effective US tariff rate the highest since 1872 at 32.8%. A previous estimate from the Tax Foundation has also put the cost in the thousands and found that 20% blanket duties would represent an average tax increase on US households of $2,045. Read more: What Trump's tariffs mean for the economy and your wallet Even studies from Trump-friendly groups — such as one issued during the 2024 campaign by a group called the Coalition for a Prosperous America — acknowledge that tariffs would raise consumer prices. Thus far, there are signs from media reports that 20% duties are being considered by the Trump team, including a report Tuesday from the Washington Post that detailed the latest machinations. Some in the administration are openly pushing for aggressive revenue goals where the math would likely require some flavor of universal duties. On Sunday, senior White House trade and manufacturing counselor Peter Navarro said the Trump 2.0 tariffs could add around $700 billion a year annually to US coffers — combining $100 billion from recently announced 25% auto tariffs to $600 billion more from other duties. Such an ambitious top-line number can't be achieved without a wide array of duties. 20% blanket tariffs, one of the most aggressive options to raise revenue yet, are estimated to raise only about half the amount floated by Navarro, assuming that other countries retaliate. A 20% blanket tariff rate would represent a dramatic turn for Trump back to outsized campaign trail promises of his stewardship of the US economy at a delicate time for markets. It could also be seen as a recognition of sorts that his oft-repeated promises of actions where "what they do to us, we do to them" is more challenging in the face of already overtaxed ports and also political constituencies that have spent recent months clamoring for exceptions. If nothing else, a blanket tariff would be simpler to implement and is likely not to add significantly to what is known as the Harmonized Tariff Schedule of the United States — an already overstuffed 99-chapter-long guide that duty collectors and importers rely on at ports. A move toward universal tariffs — if Trump follows through — could also lessen some political pressure with less opportunity for exceptions. Garrett Watson, the director of policy analysis at the Tax Foundation, previously noted to Yahoo Finance that the move toward reciprocal country-by-country tariffs was one that presented political pitfalls that could be weighing on Trump's team today. He said selective tariff considerations present "the risk of creating a political bonanza ... that makes the situation complicated and uncertain and can create political winners and losers." Trump has declined to offer much in the way of specificity. When asked Wednesday about applying universal versus individual tariffs, he responded, “You're going to see in two days,” while declining to offer specifics. The president nonetheless continued to up the stakes. In addition to his oft-repeated use of the moniker “Liberation Day” for this Wednesday, he said he is now considering the implementation of tariffs that he believes represents a "rebirth of the country." It's a topic that Democrats are also likely to hammer the president on, especially if this week's rollout goes poorly and already shaky markets continue to sell off. “Perhaps if they are blanket 20% across-the-board tariffs that are imposed tomorrow, markets may have some certainty going forward,” former Biden administration official Alex Jacquez said Tuesday morning. But then he quickly added, "It's hard to see that they'll like those either." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Read the latest financial and business news from Yahoo Finance Sign in to access your portfolio

Oops, something went wrong Wall Street's bullishness on gold doesn't appear to be wavering as the precious metal hit yet another all-time high. On Tuesday, futures (GC=F) made their 19th intraday record of the year, surging above $3,170 per ounce before paring gains ahead of President Trump's reciprocal tariff plan announcement expected on April 2. "Within the commodities complex, long Gold presents the obvious hedge for risky market exposure in our view, especially since the bullish medium-term trend dynamics remain firmly intact," JPMorgan analysts said in a note on Tuesday. Most notable is the rapid pace at which gold has risen, notching its best quarterly performance in nearly 40 years. JPMorgan's researchers note gold went from $2,500 to $3,000 per ounce in 210 days, much faster than previous $500 increments, which took an average of 1,700 days. Year-to-date gold prices are up 19%, while over the past year the commodity is up more than 40%. "A simple regression analysis shows that over the period since early 2024, gold has turned into a momentum trade, which appears to be backed less by fundamentals and driven more by momentum," wrote Societe Generale researchers and strategists in a note last month. "Our view is that this momentum dynamic will remain broadly intact," they wrote. The firm expects gold to reach $3,300 by year-end. Goldman Sachs analysts recently raised their year-end price target to $3,300 "reflecting upside surprises in ETF inflows and in continued strong central bank gold demand." The firm also identified potential events that could spark selling and create better entry points for investors. "First, a Russia-Ukraine peace deal would likely trigger speculative selling," Goldman commodities strategist Lina Thomas said in a note last Wednesday. "Second, while not the base case of our portfolio strategists, a potential sharp equity sell-off may trigger margin-driven gold liquidation," she added, noting that a sell-off would be "short-lived." In the meantime, near-term price action may depend on the exact details of President Trump's highly anticipated announcement at the White House Rose Garden on Wednesday. Trump is expected to announce reciprocal tariffs on imports from other countries. "Tariff-related information has already been partly reflected in gold prices over the past week," said Linh Tran, market analyst at XS.com. "If President Trump delays the implementation of these policies, the market may witness a short-term correction in gold as investors take profits after a strong rally." Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance

Oops, something went wrong Newsmax stock (NMAX) soared as high as 132% Tuesday, extending its massive 735% gain on Monday following the conservative cable news outlet's IPO. Newsmax raised $75 million in its IPO Friday, with shares priced at $10. The outlet's rapid ascent in its first two days of trading pushed its market cap to $16.7 billion early Tuesday, with shares at one point reaching a high of roughly $194. The stock pared gains midday, up around 78% to roughly $149, putting the company's market cap at just over $13 billion. Read more about today's Newsmax stock moves and market action. “This incredibly successful offering, combined with our previous Preferred Offering, provides us with the capital and financial freedom to accelerate our growth initiatives, expand our programming, and further enhance our digital presence,” said CEO Christopher Ruddy, a media mogul and friend of President Trump who founded the company in 1998. Newsmax, which became a cable TV network in 2014, has faced an onslaught of critiques and legal battles for touting conspiracy theories. The company is facing an ongoing lawsuit from Dominion Voting Systems seeking $1.6 billion in damages related to false claims it made in its coverage of the 2020 election, which Newsmax cited among risk factors to its business in its latest 10-K filing to the SEC. Newsmax settled another lawsuit with another election tech company, Smartmatic, in 2024 for similar claims and has paid $20 million of the $40 million settlement thus far, according to the filing. The news outlet, seen as a Fox News alternative, also drew criticism when it reported false claims and conspiracy theories about the Jan. 6 attack on the US Capitol. While Newsmax's revenue soared roughly 26% to roughly $171 million in 2024, the company lost $72 million that year. The company also said in its filing that it has identified "material weaknesses" in its financial reporting controls such that there may be "a material misstatement" in its financial statements that it may not detect "on a timely basis." Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Sign in to access your portfolio

Oops, something went wrong Data out Tuesday showed activity in the manufacturing sector slipped into contraction for the first time this year and costs continued to surge as suppliers weigh the impact of President Trump's tariff policy. The Institute for Supply Management's manufacturing PMI registered a reading of 49.0 in March, down from February's 50.3 reading and below the 49.5 economists polled by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate a contraction. The prices paid index surged to 69.4, up from 62.4 the month prior and the highest reading since June 2022, reflecting companies' continued increase in costs. Economists had expected a reading of 64.6. "Demand and production retreated and destaffing continued, as panelists' companies responded to demand confusion," Institute for Supply Management chair Timothy Fiore wrote in the release. "Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth." Many survey respondents cited increased uncertainty due to tariffs as companies attempt to restock inventories ahead of future policy rollouts, with reciprocal levies set to come as soon as Wednesday. Notably, new orders fell to the lowest reading since May 2023. "The slight dip in the ISM manufacturing index in March suggests that, rather than triggering a reshoring factory renaissance, the uncertainty surrounding President Trump's tariff threats are depressing activity," Harry Chambers, assistant economist at Capital Economics, wrote in reaction to the data. "While the prices paid index is still some way below its pandemic [level], even after rising again in March, it seems likely to increase further next month once more tariffs come into effect," Chambers said. "There's a whiff of stagflation in the air." Shortly following the data's release, the Federal Reserve Bank of Atlanta's GDPNow tracker, which analyzes incoming data points, signaled negative growth of 3.7% in Q1, an escalation of the prior negative 2.8% reading. Another reading on manufacturing activity out Tuesday also raised concerns over Trump's tariff uncertainties. The final reading of S&P Global's manufacturing PMI hit 50.2 in March, down from a strong 52.7 in February. Despite the slowdown, it was the third month the index registered a reading above 50 "but only just." "The PMI signaled a marginal improvement in operating conditions that was the weakest of the year so far," S&P Global said in the release, noting a drop in production for the first time since December weighed heavily on the headline index while order books expanded only modestly. Chris Williamson, chief business economist at S&P Global Market Intelligence, said in the release, "The strong start to the year for US manufacturers has faltered in March." "While business confidence about the outlook remains relatively elevated by standards seen over the past three years, this is based on companies hoping that the near-term disruption caused by tariffs and other policies will be superseded as longer-term benefits from the policies of the new administration accrue," he continued. "However, March has seen more producers question this belief." S&P said a "key concern" among manufacturers is the degree to which heightened uncertainty resulting from policy changes, notably tariffs, cause customers to cancel or delay spending, along with the ripple effect when it comes to rising costs and deteriorating supply chains. "Tariffs were the most cited cause of factory input costs rising in March, and at a rate not seen since mid-2022 during the pandemic-related supply shock," Williamson said. "Supply chains are also suffering to a degree not seen since October 2022 as delivery delays become more widespread." Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance

Oops, something went wrong It could be time to kick the tires on Microsoft stock (MSFT) after a 12% first quarter beating. RBC Capital Markets analyst Rishi Jaluria added the tech behemoth to his "Top Picks" list on Tuesday. "We believe investors underappreciate the GenAI innovation Microsoft brings throughout the infrastructure and application layers, and view the recent underperformance of the shares as a buying opportunity," Jaluria wrote in a client note. "We believe that Azure growth can reaccelerate, driven by AI momentum, capacity continuing to come online, and the Azure 'AI halo effect' coming into play." Reasons behind the bullish call include Microsoft being a market leader in enterprise software and public cloud through Azure. He expects Microsoft to maintain a low teens percentage compound annual growth rate (CAGR) from fiscal year 2025 to fiscal year 2026. Listen: What Microsoft co-founder Bill Gates thinks about Nvidia He added that Microsoft is likely to enter new markets, such as hyperautomation, to drive its growth. Lastly, Microsoft's Office installed base will likely continue to expand. Jaluria slapped Microsoft with a $500 price target (assumes 33% upside from current price levels) and an Outperform rating. The $500 price target is about average among the sell-side analysts that cover Microsoft, according to Yahoo Finance data. Of the 58 analysts who publish research on Microsoft, 91% rate the stock a Strong Buy or Buy. Microsoft's stock was the fourth-worst performer from the "Magnificent Seven" in the first quarter. Tesla (TSLA) led declines with a 38% drop, Nvidia (NVDA) fell 21%, Google (GOOG) declined 19%, and Amazon (AMZN) shed 14%. The drivers behind the Microsoft sell-off in the first quarter are threefold. First, investors have rotated out of large-cap tech names and into perceived safe-haven assets like gold and healthcare stocks with Trump tariff fears running rampant. Second, ever since DeepSeek's breakthrough development in January, investors have been concerned that AI investment will slow materially in 2025. Microsoft has been an aggressive investor in AI infrastructure, most notably seen in its backing of OpenAI. And lastly, Microsoft's fourth quarter left some things to be desired. Microsoft's Commercial Cloud segment sales, which includes cloud services sales, saw revenue rise 21% year over year to $40 billion. It was shy of Wall Street expectations of $41.1 billion. Microsoft's intelligent cloud business, which includes its Azure platform, saw revenue of $25.5 billion. Wall Street was anticipating $25.8 billion. Cloud gross margin came in light versus estimates. Watch: The biggest investing mistakes you keep making The company will have some proving to do to Wall Street when it reports earnings in late April. But one of its main chip suppliers has offered a clue that the market's fears about slowing AI investment may be overdone. "The need for compute continues to be immense," AMD CEO Lisa Su told me in a Yahoo Finance exclusive interview on Monday (video above). "We see that throughout all of our customers globally, and we're going to continue to invest strongly in this area because I think this is the single most important technology. I like to say it's the single most important technology of the last 50 years." Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com. Click here for the latest technology news that will impact the stock market Read the latest financial and business news from Yahoo Finance

Oops, something went wrong This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: The chart of the day What we're watching What we're reading Economic data releases and earnings If all goes according to plan on "Liberation Day" — President Trump's term for Wednesday's scheduled reciprocal tariffs — the trade war showdown will be the starting point of a new American era, of a nationalistic economy that boosts our self-sufficiency and prosperity. But even if every aspect of the president's agenda falls into place, there's a laundry list of things that will have to go right for it to work out. Things that essentially seem impossible. First off, the countries whose imports would be tariffed need to do nothing, instead of unleashing a wave of repercussions that would nullify or complicate the imagined progress of an America First platform. The rollout itself has to be clean, without the expected messiness of retaliatory tariffs and chaos at US ports. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy The tariffs, any further tit-for-tat levies, and rollout need to be a historical economic exception that boosts growth and doesn't end up kickstarting a brutal disruption for businesses and consumers. Businesses need to get creative as international trade continues to be reshaped by policy and torpedoed relationships with allies and trading partners. Consumers need to be patient, forgiving, and team players willing to make sacrifices. While the White House contends that the price increases triggered by tariffs will be fleeting, consumers have made it plain they're fed up with inflation. Relying on a theory that tariff-inspired price increases will only be transitory — and that Americans will be willing to accept them — seems an economically and politically dangerous gamble. Consumers will improbably have to play along. "Liberation Day" also puts the Federal Reserve in a jam. If the Fed cuts rates to reverse flagging growth — yet another “best case” scenario for Trump that isn't ideal for the rest of us — the central bank risks driving up inflation. And those rate cuts will come in the form of a monetary rescue mission instead of a final, easing maneuver in a soft landing. And then, all of this needs to crystalize into a sentiment, growth, and earnings boom. That's an incredible string of green lights the Trump administration needs to hit. Or holes-in-one; pick your metaphor. Which is why, as many economists, strategists, and analysts — people incentivized by being correct, not politically correct — have noted, the upside may be limited, but the downside is a black pit. If Trump's antagonistic negotiating leads to deals with our trading partners, there's still a lot that would need to happen for the market to return to glory and for businesses and consumers to shed their anxieties. Even a narrower tariff rollout would arrive with an array of caveats and carveouts. Wall Street analysts and business leaders would still have to qualify their thinking of "this isn't as bad as we thought" with a "for now" clause. And in the meantime, the agonizing run-up has already done damage. A months-long protectionist realignment isn't just a mindset, it's now been baked into operations and expectations. Just because the April 2 tariff guessing game has passed doesn't mean tariff uncertainty will end. If nothing is set in stone, the potential for future disruption continues to hang over markets. Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on X @hshaban. Click here for the latest economic news and indicators to help inform your investing decisions Read the latest financial and business news from Yahoo Finance

Oops, something went wrong This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: The chart of the day What we're watching What we're reading Economic data releases and earnings If all goes according to plan on "Liberation Day" — President Trump's term for Wednesday's scheduled reciprocal tariffs — the trade war showdown will be the starting point of a new American era, of a nationalistic economy that boosts our self-sufficiency and prosperity. But even if every aspect of the president's agenda falls into place, there's a laundry list of things that will have to go right for it to work out. Things that essentially seem impossible. First off, the countries whose imports would be tariffed need to do nothing, instead of unleashing a wave of repercussions that would nullify or complicate the imagined progress of an America First platform. The rollout itself has to be clean, without the expected messiness of retaliatory tariffs and chaos at US ports. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy The tariffs, any further tit-for-tat levies, and rollout need to be a historical economic exception that boosts growth and doesn't end up kickstarting a brutal disruption for businesses and consumers. Businesses need to get creative as international trade continues to be reshaped by policy and torpedoed relationships with allies and trading partners. Consumers need to be patient, forgiving, and team players willing to make sacrifices. While the White House contends that the price increases triggered by tariffs will be fleeting, consumers have made it plain they're fed up with inflation. Relying on a theory that tariff-inspired price increases will only be transitory — and that Americans will be willing to accept them — seems an economically and politically dangerous gamble. Consumers will improbably have to play along. "Liberation Day" also puts the Federal Reserve in a jam. If the Fed cuts rates to reverse flagging growth — yet another “best case” scenario for Trump that isn't ideal for the rest of us — the central bank risks driving up inflation. And those rate cuts will come in the form of a monetary rescue mission instead of a final, easing maneuver in a soft landing. And then, all of this needs to crystalize into a sentiment, growth, and earnings boom. That's an incredible string of green lights the Trump administration needs to hit. Or holes-in-one; pick your metaphor. Which is why, as many economists, strategists, and analysts — people incentivized by being correct, not politically correct — have noted, the upside may be limited, but the downside is a black pit. If Trump's antagonistic negotiating leads to deals with our trading partners, there's still a lot that would need to happen for the market to return to glory and for businesses and consumers to shed their anxieties. Even a narrower tariff rollout would arrive with an array of caveats and carveouts. Wall Street analysts and business leaders would still have to qualify their thinking of "this isn't as bad as we thought" with a "for now" clause. And in the meantime, the agonizing run-up has already done damage. A months-long protectionist realignment isn't just a mindset, it's now been baked into operations and expectations. Just because the April 2 tariff guessing game has passed doesn't mean tariff uncertainty will end. If nothing is set in stone, the potential for future disruption continues to hang over markets. Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on X @hshaban. Click here for the latest economic news and indicators to help inform your investing decisions Read the latest financial and business news from Yahoo Finance

New York City, New York, April 1st, 2025, FinanceWire Feedzai, the world's first end-to-end financial crime prevention platform, today announced a partnership with Highnote, an innovative fintech leader, to support the launch of Highnote's new acquiring business line. By leveraging Feedzai's AI-native, real-time fraud prevention and merchant monitoring platform, Highnote was able to swiftly bring its acquiring solution to market while meeting stringent regulatory requirements. Highnote's acquiring business enables enterprises to seamlessly and securely process transactions by integrating comprehensive fraud detection with robust merchant monitoring capabilities. To achieve this, Highnote tapped into Feedzai's agile platform, gaining access to real-time data insights. The partnership also streamlines Highnote's vendor footprint, consolidating pre- and post-authorization processes under one system. Key Benefits of the Partnership: This alliance underscores Feedzai's ongoing mission to deliver cutting-edge financial crime prevention solutions that empower the leaders in fintechs to accelerate growth, manage risk effectively, and provide unmatched customer experiences. About Highnote Highnote is an embedded finance company setting the new standard in modern card platform management. Its integrated technology enables companies of all sizes to embed virtual and physical card payments, ledger, and wallet functionalities into their products, creating compelling value for users. Highnote has raised more than $145 million from leading investors and is headquartered in San Francisco, California. For more information, users can visit www.highnote.com. About Feedzai Feedzai is the world's first end-to-end financial crime prevention platform, protecting people and payments with AI-native solutions that stop fraud and financial crime. Leading financial institutions trust Feedzai to manage critical risk and compliance processes, safeguarding trillions of dollars of transactions while improving the customer experience and protecting the privacy of everyday users. For more information, users can visit feedzai.com. Indices Commodities Currencies Stocks