The stock market saw a positive week, with the bulls taking control as cooler inflation data was released. The Dow Jones Industrial Average closed above 40,000 for the first time, marking a 1.24% gain for the week. Both the S & P 500 and Nasdaq Composite also reached new all-time highs, fueled by the favorable
The U.S. Securities and Exchange Commission is facing a crucial decision regarding the approval of ether exchange-traded funds, but doubts loom over the outcome due to the absence of a comprehensive regulatory framework for cryptocurrencies. Ric Edelman, head of the Digital Assets Council of Financial Professionals, highlighted the need for updated regulations to protect investors
The past week saw all three major averages close higher, influenced by softer retail sales and consumer price data for April. Despite the weaker-than-expected reports, Wall Street embraced the news as it hinted towards further disinflation. This outcome is crucial for any possibility of the Federal Reserve reducing interest rates by the year 2024. The
The Tax Cuts and Jobs Act of 2017, which lowered income taxes for most Americans, is set to expire in 2025 unless Congress takes action. The looming battle over these tax breaks adds further complications to the federal budget deficit. As we approach this crucial deadline, it is essential to understand the implications of these
Last year, media giants faced challenges during Upfront meetings due to a Hollywood strike and cost cutting that impacted their content offerings. This year, although stars returned post-strike, the presentations continued to rely heavily on sports content as opposed to scripted shows. The repercussions from the previous year’s pause in work meant that some companies
The recent decision by Mercedes-Benz workers in Alabama to vote against union representation by the United Auto Workers (UAW) has come as a surprise blow to the UAW’s organizing efforts. The National Labor Relations Board (NLRB) announced on Friday that 56% of the workers, totaling 2,642, were against the UAW. This comes just a month
The recent announcement by the U.S. Department of Education regarding interest rates on federal student loans has left parents grappling with some unpleasant news. In the upcoming 2024-2025 academic year, parents looking to avail Direct PLUS loans will be facing a hefty 9.08% interest rate. This rate marks the highest percentage in over three decades,
Friday’s session in the U.S. stock market saw little movement, with the Dow surpassing the 40,000 mark for the first time. Although the Nasdaq Composite and S & P 500 reached intraday records on Thursday, they closed slightly lower. Jim Cramer described the market as “muted,” lacking significant activity in any particular sector. One standout
Chinese authorities have recently announced new support for state-owned enterprises (SOEs) to stimulate the purchase of unsold apartments in an effort to address issues in the real estate sector. The People’s Bank of China has pledged to provide 300 billion yuan ($42.25 billion) to financial institutions to lend to local SOEs for the acquisition of
Richemont, the Swiss luxury group behind renowned brands like Cartier, has seen a significant boost in its shares following the announcement of record full-year sales. Despite a 1% decline in fiscal fourth-quarter sales driven by a slowdown in Asia-Pacific, the company managed to achieve an all-time high of 20.6 billion euros in group sales for
