Author: starbpo

Working a platform has always come naturally to Steve Madden.In a recent interview on “The Cutting Room Floor” podcast, the founder and former CEO of the footwear company Steve Madden (SHOO), whose platform-heeled boots, sneakers, and sandals became a 1990s fashion staple, criticized President Donald Trump’s China tariffs for driving up shoe prices and “destroying” the American economy. “We, the Apples, Steve Maddens, Uggs, and Ralph Laurens, are the ones who create commerce.” They’re ruining the economy that we built. Madden, StevePodcast host Recho Omandi asked Madden what “the drama” is for him at the moment in a clip generating…

Despite a 2% decline in the first four trading sessions of this week, the S&P 500 was virtually unchanged for 2025 through May 22 when dividends were reinvested. Therefore, given that the large-cap U.S. benchmark had down 15% for the year through April 8, some investors may still have been breathing a sigh of relief. Professional money managers at the bottom issued cautions to reduce risk in anticipation of possible economic disruptions brought on by the tariffs that President Donald Trump proposed on April 2. However, according to Gordon Gottsegen and Joseph Adinolfi, perhaps those veterans can learn a few…

On Friday, President Donald Trump rattled his tariff saber and stock market investors by threatening taxes on Apple Inc. and the European Union, capping off a gloomy week. However, the focus of all the recent trade controversy has been on changes in the bond market. In particular, the yield on the 30-year Treasury bond BX:TMUBMUSD30Y saw a significant increase this week, hitting 5.15% on Thursday, barely short of its intraday peak of 5.17% in October 2023, before reversing course. According to Dow Jones Market Data, it closed Friday at 5.036%, up 14.1 basis points for the week and roughly 30…

With President Donald Trump threatening a “straight” 50% tariff on the European Union and at least a 25% charge on iPhones and other handsets manufactured elsewhere, attention was once again focused on U.S. supply chains as the Memorial Day weekend approached. In an early social media post, Trump stated that he was thinking of implementing the new EU fee as early as June 1 because negotiations with the EU “are going nowhere!” This caused the stock market to plummet even more, resulting in significant weekly losses for all three of the major equity-market indices, SPX DJIA COMP. Trump reiterated his…

Everyone who uses Apple agrees that it’s difficult to fathom exchanging a MacBook or iPhone for a Lenovo laptop or a Samsung smartphone. Despite the tariff commotion, that is likely Apple’s greatest advantage. However, there has recently been pressure on Apple Inc.’s stock (AAPL). Apple shares have lost ground while major technology firms have surged back in May. This month, the stock has dropped 8% so far. Based on FactSet statistics, it’s the only one of the “Magnificent Seven” that has lost money over that time. It is also the group’s worst-performing stock, down 22% so far this year. The…

Advisors must be able to tell the difference between opinion and fact. You want financial advisors to talk freely when you meet with them. You want straightforward guidance, not ambiguous hedging. In a private discussion, many advisors will be forthright. However, there are stringent guidelines that dictate what they may and cannot say when they promote their services, produce content for social media, or offer market commentary for the general public. The firm’s compliance team has probably approved an adviser’s marketing materials. This holds true for an adviser’s public presentations, email newsletters, and the firm’s website content and client testimonials.…

Ahead of Memorial Day weekend, President Donald Trump reignited trade tensions, sending financial markets reeling with two threats, one of which was directed at the European Union. “We’re having fruitless conversations with them! Trump wrote on Truth Social early Friday, “Therefore, I am proposing a straight 50% tariff on the European Union, beginning June 1,” claiming that the EU has been “very difficult to deal with.” Citing “Monetary Manipulations,” trade barriers, taxes, corporation penalties, and other trade hurdles, Trump said that these actions had “led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number…

Following the Trump administration’s vow to aggressively expand audits to find erroneous claims, investors in UnitedHealth Group Inc. and other Medicare Advantage plan providers had to swallow yet another unpleasant pill. The hire of over 2,000 staff members is part of the “significant expansion” of auditing activities that the Centers for Medicare and Medicaid Services announced late Wednesday, effective immediately. Audits of all qualifying MA contracts for the 2018–2024 payment years will start right now. CMS Administrator Mehmet Oz declared, “We are dedicated to eliminating fraud, waste, and abuse across all federal healthcare programs.” “While the Administration values the work…

Jerome Powell, the chair of the Federal Reserve, stated Thursday that the U.S. economy may be experiencing a period of unexpected shortages of essential goods and that the central bank should resume making battling inflation its top priority. Powell stated at a Fed research conference that “we may be entering a period of more frequent and potentially persistent supply shocks, a difficult challenge for the economy and for central banks.” The tariffs imposed by President Donald Trump are a type of supply shock since they force companies to pay more for components of their products that are manufactured elsewhere. Like…

A senior Federal Reserve official stated on Friday that there are new indications that consumers might be cutting back on their spending, which could result in weaker future economic development. In an interview with Bloomberg, New York Fed President John Williams stated, “We are hearing more reports from businesses and others that consumers are starting to pare back some of that consumer spending.” According to him, consumers have been doing fairly well, but they also seem to be getting ready for potential tariffs. One of the central bank’s important leaders is Williams. He has a vote on the central bank’s…