Reported 1 day ago
The Winklevoss twins, billionaires and founders of the Gemini cryptocurrency exchange, are exploring a potential resolution to a lawsuit from the U.S. Securities and Exchange Commission (SEC) concerning their Gemini Earn program, which allegedly operated without proper registration. A recent joint motion in federal court requested a 60-day extension to negotiate a possible settlement or other outcomes. This case follows the SEC's larger efforts to regulate the cryptocurrency industry, signaling a shift in oversight levels.
Source: YAHOO
Reported 1 day ago
Tesla's shares began April positively, recovering slightly after a challenging first quarter where the stock lost over a third of its value due to declining sales and political controversies. As the company prepares for first-quarter delivery reports, investors should monitor crucial support levels around $225 and $186, with resistance levels near $360 and $421, to gauge potential future movements in the stock.
Source: YAHOO
Reported 1 day ago
Hims & Hers Health shares surged on Tuesday after the telehealth platform announced the inclusion of Eli Lilly's weight-loss medication Zepbound and diabetes treatment Mounjaro, both priced at $1,899 monthly. This addition marks a significant boost as Hims stock has more than doubled in the past year, even amidst recent market fluctuations related to the FDA's comments on diabetes drug shortages.
Source: YAHOO
Reported 1 day ago
Lineage Inc. has finalized its acquisition of Bellingham Cold Storage and its three warehouses located in Washington, expanding its network in the Pacific Northwest to 40 locations. This deal enhances Lineage's capacity, adding 85,000 pallet positions and 24 million cubic feet of space, and allows for improved supply chain solutions in the seafood and agriculture sectors.
Source: YAHOO
Reported 1 day ago
Major automakers reported a sharp increase in sales in March, with nearly 1.6 million vehicles sold in the U.S., a 13.6% rise, boosting first-quarter sales to over 3.9 million. Companies like GM, Ford, and Toyota saw notable gains, particularly in electric vehicle sales. However, concerns loom as President Trump's 25% tariffs on auto imports take effect, potentially impacting future sales and costs.
Source: YAHOO
Reported 1 day ago
Stablecoin issuer Circle has submitted its filing to go public on the New York Stock Exchange, aiming to trade under the ticker CRCL. The company, valued at over $5 billion, did not disclose share numbers or expected pricing. Founder Jeremy Allaire emphasized that this move reflects their commitment to transparency and accountability.
Source: YAHOO
Reported 1 day ago
As President Trump reinstates aggressive tariffs on imports, particularly affecting American farmers, commentators predict a repeat of the bailouts seen during his first term. The administration, already preparing for the fallout from retaliatory tariffs by other countries, plans to offer support to the agricultural sector, which is likely to face economic challenges similar to those experienced in 2018 and 2019. Despite Trump's optimistic rhetoric on domestic sales, many farmers are skeptical about their ability to recover from the anticipated economic impacts.
Source: YAHOO
Reported 1 day ago
Newsmax's stock (NMAX) experienced a staggering 735% increase following its IPO, raising the value of founder Christopher Ruddy's stake to $8.4 billion. Market analysts caution investors against pursuing such volatile stock movements, despite the substantial wealth generated by this surge.
Source: YAHOO
Reported 1 day ago
Goldman Sachs estimates that foreign boycotts driven by U.S. protectionist policies could reduce the U.S. GDP by $28 to $83 billion in 2025, affecting consumer goods, especially American alcohol in Canada. The report highlights a significant drop in tourist visits and a 70% decrease in passenger bookings on Canada-U.S. routes, raising concerns over broader economic impacts and prompting Wall Street firms to lower growth forecasts for the U.S. economy.
Source: YAHOO
Reported 1 day ago
Commerce Secretary Howard Lutnick is threatening to withhold promised Chips Act grants unless chip companies increase their investment in US projects. Analyst Patrick Moorhead discusses the implications for major players like Intel and TSMC, noting that while some companies have committed substantial funds, the politicization of the Chips Act may affect future funding and commitments.
Source: YAHOO
Reported 1 day ago
Newsmax's stock (NMAX) skyrocketed by 180% on Tuesday, following a staggering 735% increase on Monday after its IPO, raising $75 million at a share price of $10. The rapid trading pushed the company's market capitalization to $20.8 billion, with shares closing at $234. Despite facing ongoing legal challenges and scrutiny, CEO Christopher Ruddy expressed that this funding will support their growth initiatives and digital expansion.
Source: YAHOO
Reported 1 day ago
Republicans are drafting a tax bill that proposes raising the state and local tax (SALT) deduction limit from $10,000 to $25,000 for individuals. This move could secure support from key House members in swing districts, particularly in New York and Southern California. The plan may also renew parts of Trump's 2017 tax cuts and fulfill some campaign promises. However, the proposal is still in its early stages, with ongoing negotiations to determine the overall tax cut size and potential offsets.
Source: YAHOO
Reported 1 day ago
President Trump is set to implement significant tariffs, including a proposed 20% duty on most imports, aimed at reshaping US trade policies. Dubbed 'Liberation Day,' this move has sparked mixed reactions globally, with the EU and other countries preparing to retaliate. As uncertainty looms over domestic manufacturing and consumer prices could rise, the repercussions of these tariffs will be revealed during a public event in the Rose Garden.
Source: YAHOO
Reported 1 day ago
Federal employees from various departments, including Defense and Transportation, have received a new buyout offer as part of a workforce reduction initiative led by Elon Musk. This second chance allows agency workers to voluntarily leave their positions while continuing to receive pay and benefits until September, following a previous buyout that saw only 3% participation among federal employees. Different departments have varying deadlines and eligibility criteria for accepting the offer.
Source: YAHOO
Reported 1 day ago
BlackRock Chairman Laurence Fink emphasized the critical role of ports in the future economy, likening their significance to data centers and power grids. This statement came after China blocked BlackRock's proposed $23 billion acquisition of Hong Kong's CK Hutchison port terminals, which was expected to play a key role in the global shipping landscape. Fink noted that rising infrastructure needs, estimated at $68 trillion by 2040, will drive private investment as government funding wanes.
Source: YAHOO
Reported 1 day ago
According to Bankrate, the required household income to purchase a typical median-priced home in the US has surged by 50% since 2020, now standing at $116,986. The increase reflects dramatic home price rises and growing affordability challenges for first-time buyers, with certain areas requiring over $200,000 in annual income. States like California and Hawaii top the list for the highest income requirements, while Ohio, Iowa, and West Virginia have the lowest.
Source: YAHOO
Reported 1 day ago
President Trump is moving to implement significant tariffs on various imports, including a potential 20% tariff on most goods, and has scheduled an announcement in the Rose Garden for April 2. These tariffs are part of a broader strategy to reshape U.S. trade policy and may lead to increased consumer prices and economic challenges. Key developments include immediate tariffs on steel and aluminum, retaliation from the EU, and heightened concerns in sectors like manufacturing and automotive.
Source: YAHOO
Reported 1 day ago
Donald Trump's consideration of a 20% 'blanket' tariff to underpin his 'Liberation Day' promises raises significant economic concerns, with economists warning it could lead to increased inflation and household losses of around $3,400-$4,200. While this approach simplifies trade policy, it comes with risks, as the tariffs could result in the highest average effective tariff rate since 1872, potentially impacting the U.S. economy and consumer prices.
Source: YAHOO
Reported 1 day ago
Recent data shows Baby Boomers have reclaimed their position as the largest group of home buyers in the U.S., surpassing Millennials. This shift is largely attributed to Baby Boomers' housing equity, allowing many to purchase homes with cash. In contrast, younger buyers struggle with down payments and financing. Additionally, the trend of multi-generational homes is rising, with Gen Xers often buying properties to accommodate aging parents and returning adult children. Young women are also increasingly becoming significant players in the housing market.
Source: YAHOO
Reported 1 day ago
US stocks showed fluctuations as investors prepared for President Trump's impending announcements on new reciprocal tariffs, slated for 'Liberation Day' tomorrow. The Dow and S&P 500 saw declines of about 0.3% and 0.6%, respectively, while worries about stagflation and trade-war impacts continue to linger, contributing to a tumultuous market climate.
Source: YAHOO
Reported 1 day ago
As the deadline for a potential TikTok sale approaches, President Trump has expressed confidence that an agreement can be reached with ByteDance, the app's Chinese parent company. Speaking from Air Force One, he emphasized the significant interest in TikTok and mentioned that he would like to see it continue operating in the U.S. The April 5 deadline requires ByteDance to divest or face a nationwide ban, but Trump indicated a willingness to extend the deadline if necessary. Various potential buyers, including a consortium backed by billionaire Frank McCourt and AI startup Perplexity, have emerged, but ByteDance's stance on selling TikTok remains unclear.
Source: YAHOO
Reported 1 day ago
Gold continues to rise, reaching a new peak of over $3,170 per ounce, supported by Wall Street's bullish outlook and concerns over tariffs and inflation. Analysts from JPMorgan and Goldman Sachs note that gold's momentum trade is less about fundamentals and more about current market dynamics, with expectations of prices hitting $3,300 by year-end. Any announcement from President Trump regarding tariffs might also influence short-term trading patterns.
Source: YAHOO
Reported 1 day ago
US manufacturing has entered a contraction phase for the first time this year as costs soar due to President Trump's tariffs. The manufacturing PMI fell to 49.0 in March, indicating reduced activity, while the prices paid index surged to the highest level since June 2022 at 69.4. This instability has resulted in decreased new orders and heightened concerns among manufacturers regarding future policies, with many citing supply chain disruptions and increased operational costs associated with tariffs.
Source: YAHOO
Reported 1 day ago
Housing inventory is on the rise, with new homebuilders currently holding the most unsold completed homes since 2009. This trend may provide buyers with more options and potentially better deals, as builders look to sell their inventory. However, a large inventory could slow down new construction, exacerbating the existing housing shortage in the long term.
Source: YAHOO
Reported 1 day ago
Newsmax's stock (NMAX) skyrocketed 173% on Tuesday, adding to a staggering 735% gain from the previous day following its IPO, raising $75 million at a $10 share price. This impressive surge boosted the company's market capitalization to over $20 billion. CEO Christopher Ruddy attributed the growth to the successful IPO, enabling further expansion and programming enhancements despite ongoing legal challenges related to election coverage. While revenue increased significantly, the company also reported losses and noted potential weaknesses in financial reporting.
Source: YAHOO