Author: starbpo

Vivek Ramaswamy and Elon Musk didn’t know each other a little over a year ago. Then they got on X Spaces with David Sacks, a startup capitalist. RAMASWAmy was running for president as a Republican at the time. Musk told him, “I’d like to know more about you.” The two men have now agreed to cut $2 trillion a year in government spending, which is more than 30% of the federal budget, in just two years. The people who will be president in January have been told to run DOGE, a service that focuses on “government efficiency.” The advisory group,…

According to crypto investors who spoke to MarketWatch, Bitcoin’s value will likely reach $100,000 per coin thanks to the recent rise in price after Donald Trump won the election in the U.S. However, the coin’s future beyond this important milestone is still unknown. Bitcoin’s value went up sharply right after the U.S. elections. This was mostly due to people’s optimism about Trump’s pro-crypto policy promises on the campaign trail, such as his plans to build a national strategic bitcoin reserve. After November 5, a lot of money poured into crypto exchange traded funds (ETFs). This was partly because people were…

McDonald’s Corp. beat Wall Street’s revenue and earnings expectations for the third quarter on Tuesday, even though profits were down year-over-year. Chris Kempczinski, the CEO of the burger company, also talked about the effects of the recent E. coli outbreak that made the chain famous. There was a net income of $2.26 billion, or $3.13 a share, in the third quarter of this year, down from $2.32 billion, or $3.17 a share, in the same quarter last year. This caused McDonald’s stock to rise 0.1%. If you take out the one-time things, the adjusted earnings per share were $3.23, which…

List of numbers: After Donald Trump won the election, Republicans felt more confident, but Democrats’ hopes were dashed, so by the end of November, consumer mood hadn’t changed much. U of M said Friday that the second of two readings of shopper sentiment in November fell from 73 earlier in the month to 71.8. This month, feelings reached their highest level in seven months, but they’re still low compared to other times in history. No matter how Americans feel about politics, they have continued to spend at levels that are good for a strong economy. According to economists, that won’t…

The head of the U.S. Securities and Exchange Commission, Gary Gensler, will step down on January 20, the agency announced today. Gensler will leave the job as President-elect Donald Trump takes office. Gensler’s term ends in 2026, but it’s common for heads of government agencies to leave when a new administration takes over. It is known that Gensler doesn’t believe in cryptocurrencies, so Trump said he would fire him on “day one” of his term. The news comes as bitcoin BTCUSD 4.02% is getting close to $100,000, a big milestone that comes at a time when people are expecting the…

As prices fell sharply last summer, the Federal Reserve made plans to lower the U.S.’s high interest rates in preparation for its impending win over inflation. That plan is now in danger. Why is that? Costs staying high. In the past few months, prices have gone up a bit faster than expected. This makes people wonder when, or even if, the Federal Reserve will be able to reach its goal of stable 2% inflation. Policies that could cause inflation from the new Trump administration have made things even less certain. Because of this, Wall Street DJIA 1.24% SPX 0.68% no…

Larry Summers was the U.S. Treasury Secretary from 2009 to 2017 and a high-level adviser to Presidents Bill Clinton and Barack Obama. He has been a Democrat all his life and is still cautiously optimistic that President-elect Donald Trump and his donor and adviser Elon Musk could help the U.S. economy. When asked what advice he would give to the next president, Summers said that the government should focus on getting rid of things that get in the way of new ideas. Summers said at the FinRegLab AI conference in Washington, D.C., on Thursday, “We need to be able to…

Ukraine owes the U.S. $4.65 billion in debt. The Biden administration is trying to get that debt forgiven so that Ukraine can pay more for the war before Donald Trump takes over the American government. At a press briefing on Wednesday, Matthew Miller, a spokesman for the U.S. State Department, confirmed that the Biden-led government had “taken the step” needed to cancel Ukraine’s debts. This means that Congress will now make the choice. Miller also said that he would be “surprised” if the U.S. Congress turned down the Biden administration’s plans to forgive debt, since there is “overwhelming bipartisan support…

The amounts: In October, sales of existing homes went up because buyers took advantage of the time when mortgage rates were low. On Thursday, the National Association of Realtors said that sales of previously owned houses rose 3.4% in October, to 3.96 million units per year. That’s how many homes would be sold in a year if they were sold at the same rate every month like they were in October. Seasonal changes are made to the numbers. Economists polled by Dow Jones Newswires and the Wall Street Journal thought that the rate of sales would rise to 3.95 million,…

Target Corp. reported a triple miss for the fiscal third quarter and gave a negative outlook, citing “unique” difficulties and costs. Shares of the company fell sharply and were on track for their worst day in more than two years. The company TGT -21.55% also said that its margins went down because of higher digital delivery and supply-chain costs caused by having to manage more inventory and more digital sales. “We saw a lot of good things in the business,” said CEO Brian Cornell. “There was a 2.4% rise in traffic, nearly 11% growth in the digital channel, and continued…