Apple stock closed above a $3 trillion valuation for the first time ever on Friday.The stock has fully recovered from 2022’s bear market and has been making new record highs.Investors have cheered Apple’s strong product ecosystem and resilient growth powered by its iPhone and Services business. Loading Something is loading. Thanks for signing up! Access… Continue reading Apple stock closes above $3 trillion valuation for the first time ever
SAFE Banking Act Heads Back to Capitol Hill: This Week in Cannabis Investing
There is a concerted effort in the Senate to pass the SAFE Banking Act. The bipartisan bill, also known as the Secure and Fair Enforcement Bank, is expected to be reviewed next month when the Senate resumes following the Independence Day recess. Senator Steve Daines (R-Montana) says that now is the “best” time to pass… Continue reading SAFE Banking Act Heads Back to Capitol Hill: This Week in Cannabis Investing
Cooling Labor Market Can Help Inflation Come Down: Kiplinger Economic Forecasts
Inflation is affected by a multitude of factors in the economy, and it’s not always easy to keep tabs on all of them. To help you understand what is going on and what we expect to happen in the future, our highly-experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts… Continue reading Cooling Labor Market Can Help Inflation Come Down: Kiplinger Economic Forecasts
Stock Market Today: Stocks Close Mixed After Fed Stress Tests, GDP
Stocks closed mostly higher Thursday after the latest round of economic data eased recession worries and financial shares jumped following the results of the Federal Reserve’s annual stress test. On the economic front, the final reading on gross domestic product (GDP) showed the U.S. economy grew at a 2% annualized pace in the first quarter,… Continue reading Stock Market Today: Stocks Close Mixed After Fed Stress Tests, GDP
An oil-trading hedge fund just got slammed with a 51% loss amid this year’s slump in energy prices
An oil hedge fund is looking at 51% loss as its bets on energy prices turns sour, Bloomberg reported.Pierre Andurand’s hedge fund had delivered sky-high returns to its investors from 2020 through 2022.Andurand gave a bullish outlook for oil prices earlier this year, arguing that the commodity could hit $140 per barrel. Loading Something is… Continue reading An oil-trading hedge fund just got slammed with a 51% loss amid this year’s slump in energy prices
The US could see inflation drop like a rock without hitting a recession, Bank of America says
The US could see a big drop in inflation without hitting a recession, Bank of America said. Strategists pointed to the inverted Treasury yield curve, the bond market’s notorious recession gauge. But this time around, the indicator is signaling a hard landing for inflation, not for the economy. Loading Something is loading. Thanks for signing… Continue reading The US could see inflation drop like a rock without hitting a recession, Bank of America says
China is hiding $3 trillion of foreign currency in ‘shadow reserves,’ adding unknown risks to the global economy, former Treasury official says
China has more foreign exchange reserves than reported, a former Treasury official wrote. An additional $3 trillion is hidden in “shadow reserves,” such as state commercial and policy banks. “Not everything that China does in the market now shows up in the PBoC’s balance sheet.” Loading Something is loading. Thanks for signing up! Access your… Continue reading China is hiding $3 trillion of foreign currency in ‘shadow reserves,’ adding unknown risks to the global economy, former Treasury official says
Warren Buffett’s Berkshire Hathaway snaps up another $123 million in Occidental Petroleum stock, now owns 25% of the oil company
Warren Buffett’s Berkshire Hathaway now owns a little more than 25% of Occidental Petroleum after the latest purchases. Buffett’s conglomerate picked up another 2.1 million shares this week, according to SEC filings. Berkshire’s total holding of Occidental is worth around $13 billion, vested in 224 million shares. Loading Something is loading. Thanks for signing up!… Continue reading Warren Buffett’s Berkshire Hathaway snaps up another $123 million in Occidental Petroleum stock, now owns 25% of the oil company
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