On Thursday, the U.S. stock market saw mixed results as investors assessed the latest economic data. The S & P 500 experienced a slight dip, but still remained close to its all-time high. This comes after the release of May’s producer price index data, which suggested a potential easing of inflation pressures. Additionally, weekly jobless
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As Congress engages in a crucial discussion regarding the impending decision on trillions in expiring tax breaks, the spotlight has been on several Democratic proposals aimed at increasing taxes on corporations and wealthy Americans. Advocates of these plans argue that they are necessary to address income inequality and the federal budget deficit. Among the topics
In recent years, the fintech industry has undergone a significant transformation, with many industry insiders and investors suggesting that the sector has hit a “bottom.” Valuations have corrected from unsustainable highs seen during the industry’s peak in 2020 and 2021. This shift has led to a more rational market environment, moving away from the days
Larry Ellison, the Chairman of Oracle, witnessed a significant increase in his wealth by nearly $19 billion after the company forecast double-digit revenue growth for the fiscal year. This positive outlook led to a sharp rally in the stock, marking its best performance since 2021. Ellison’s substantial fortune is largely attributed to his ownership of
Foundation Robotics Labs, a humanoid robotics startup, has recently come under fire for making false claims and exaggerations in its investor pitch. The company, seeking the last $1 million in funds for an $11 million seed round, touted an investment from General Motors and a purchase order worth $300 million. However, GM has refuted these
The sell-off in GameStop shares on Wednesday intensified during afternoon trading, leading to a significant drop in the stock price. This sell-off coincided with a spike in trading volume in the call options owned by meme stock leader “Roaring Kitty”, whose real name is Keith Gill. Despite disclosing his portfolio on Monday night with 120,000
In the past week, mortgage rates experienced significant fluctuations due to economic data releases and overall market conditions. The Mortgage Bankers Association reported a surge of nearly 16% in total mortgage applications, driven by a decrease in rates for 30-year fixed-rate mortgages. However, this trend was short-lived as rates bounced back up following a stronger-than-expected
The looming expiration of trillions in tax breaks enacted by former President Donald Trump through the Tax Cuts and Jobs Act of 2017 has sparked a debate among presumptive nominees President Joe Biden and Donald Trump. Both candidates have pledged to extend these tax breaks for most Americans, but the question remains on how to
Homeownership in the U.S. has become increasingly expensive over the years, and it’s not just the purchase price that’s on the rise. The hidden costs of maintaining a home have also seen a significant increase. According to a recent report by Bankrate.com, the average annual cost of owning a home comes to $18,118, or $1,510
The recent investigation into United Auto Workers President Shawn Fain by federal court-appointed monitor Neil Barofsky has raised concerns about potential abuses of power within the union. The monitor is looking into allegations of obstruction and interference by union leaders, including Fain, which could violate a 2020 consent decree between the UAW and the U.S.