Yahoo! was originally called “Jerry and David’s Guide to the World Wide Web” before it was renamed.
Created in 1994 by Stanford students Jerry Yang and David Filo, the guide started as a curated directory of websites they personally found interesting. As the internet rapidly expanded, their organized list of links became incredibly popular, prompting them to turn it into a full-fledged web portal.
They eventually rebranded the site to “Yahoo!”, an acronym for “Yet Another Hierarchically Organized Oracle,” though the name was also chosen for its playful and energetic sound. This early project went on to become one of the biggest internet companies of the dot-com era.
Market Wrap
Markets Rebound as Tariff are Eased and Fed Signals Support
Tariff Exemptions on Tech Products:
The White House announced temporary exemptions on certain electronics, including smartphones, computers, and semiconductors, from the newly imposed 145% tariffs on Chinese imports. This partial relief, shifting these items to a 20% "Fentanyl Tariff" category, boosted investor sentiment, leading to gains in tech stocks like Apple and Dell.
Potential Pause on Auto Tariffs:
President Trump indicated a possible temporary lift of the 25% auto tariffs imposed in March, aiming to give automakers time to adjust their supply chains. This announcement positively impacted shares of Ford and General Motors.
Federal Reserve's Stance on Interest Rates:
Federal Reserve Governor Christopher Waller suggested that the Fed might consider interest rate cuts if economic conditions worsen due to the tariffs. His comments provided some reassurance to investors concerned about the potential economic slowdown.
IMF's Warning on Trade Tensions:
The International Monetary Fund cautioned that major geopolitical events, including trade tensions, could cause significant stock market corrections and heightened volatility, posing risks to global financial stability.
Consumer Expectations Survey:
The Federal Reserve Bank of New York's March 2025 Survey of Consumer Expectations indicated that households' inflation expectations increased at the short-term horizon, while unemployment and job loss expectations deteriorated.
Market Performance:
The S&P 500 and Dow Jones Industrial Average both rose by 0.8%, while the Nasdaq Composite increased by 0.6%. Despite these gains, all indexes remain down for the year, with the S&P 500 down 8.1%, Dow down 4.7%, and Nasdaq down 12.8%.
Apple Inc. shares rose 2.2% after President Trump announced a temporary exemption of smartphones from new tariffs. This alleviated investor concerns over potential cost increases for Apple’s China-manufactured iPhones, providing a boost to the stock.
Nvidia Corp. shares were unchanged after announcing plans to manufacture AI supercomputers entirely in the U.S., projecting $500 billion in domestic AI infrastructure over the next four years.
Palantir Technologies Inc. shares climbed 5% after the company secured a deal to provide AI-enabled systems to NATO. The contract was seen as a significant growth opportunity, leading to increased investor confidence.
Pfizer Inc. shares rose despite the company halting development of a weight-loss drug due to safety concerns. The decision raised questions about Pfizer's pipeline prospects in the competitive weight-loss treatment market.
Intel Corp. shares gained 3% following the announcement of selling a 51% stake in its Altera unit to Silver Lake for $8.75 billion. The deal was perceived as a strategic move to streamline operations.
Dell Technologies Inc. shares increased following the White House's exemption of certain electronics, including computers, from newly imposed tariffs. The exemption alleviated concerns over potential cost increases.
Ford Motor Co. shares increased 4% as the company stood to benefit from the White House's proposed assistance for automakers shifting parts production domestically.
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