Author: starbpo

On Friday, corn futures went up because U.S. corn use, which is a good indicator of demand, went up more than supply. This helped prices recover from early losses that had pushed them to their lowest level since 2020. It was reported by the U.S. Department of Agriculture on Friday that U.S. corn use was “slightly” higher than supply. This meant that corn stocks at the end of the 2024-25 marketing year were down 5 million bushels from what was expected in June, to 2.097 billion bushels. To Sal Gilbertie, chief investment officer at Teucrium Trading, that statement was “enough…

UBS changed Tesla’s rating from “buy” to “sell.” The broker said that the stock gives too much weight to the automaker’s growth plans. Analysts led by Joseph Spak changed their recommendation for Tesla from “neutral” to “sell.” They also raised their price target from $147 to $197. Analysts don’t think Tesla will be able to make 5 million cars by 2030; they think the company will only be able to make 3.9 million cars. According to them, the outlook for the next five years, from 2025 to 2027, is 11% worse than what most people think. “Our view is shaped…

Costco announced on Wednesday that it would be raising its annual membership fees by $5, to $65, for basic memberships and by $10, to $130, for executive memberships. As a result, customers started planning how to avoid the fee increases, even though many shoppers know it’s pointless to try to beat the warehouse store. To make up for the higher fees, many plans involve making better use of some of Costco’s COST, -0.11% most popular loss leaders. These are low-profit items that are meant to attract customers who will then buy other items that make the store money. One Reddit…

Ashley Judd, an actress, is joining the calls for President Joe Biden to drop out of the race for president after how he did in last month’s debate. She says she is afraid he will lose to Republican Donald Trump in November. That same day, Judd wrote an opinion piece for USA Today in which he asked Biden to “voluntarily, gracefully step aside” so that his party could back a “talented, robust Democrat” for president. She said of Biden during the debate that he was “unable to counter Trump while he, unchecked, gushed a firehose of irritating lies.” Judd, who…

It has been years since efforts to stop lawmakers from trading stocks failed to gain enough support. On Wednesday, a bipartisan group of four senators announced a new effort. Senators said they had agreed on a bill that would make it illegal for members of Congress, their spouses, and their children or dependents to buy, hold, or sell individual stocks. The bill, which is called the ETHICS Act, will be worked on by the Senate Homeland Security and Government Committee on July 24. A Democrat from Oregon, Sen. Jeff Merkley, a Republican from Missouri, and two Democrats from Georgia, Sen.…

It is planned that 11 factories in eight states will receive $1.7 billion in grants from the Biden administration to help them turn closed or at-risk auto plants into ones that make electric vehicles or parts for them. The grants come from the Democrats’ Inflation Reduction Act of 2022. They will give $500 million to a General Motors (GM) plant in Michigan, $89 million to a Harley-Davidson (HOG) factory in Pennsylvania, $78 million to a Blue Bird (BLBD) school bus factory in Georgia, and $208 million to Volvo (VOLV.A) truck factories in Maryland, Pennsylvania, and Virginia. One of the seven…

Inflation will stay low for a while longer before the Federal Reserve cuts interest rates in the United States. It’s likely to get another one on Thursday. The consumer price index is expected to barely go up in June, after not going up at all in May. Also, the rate of inflation might be the lowest it has been since the beginning of 2021. Watch out for these things in the CPI. A small price rise The consumer price index is only expected to go up 0.1% in June, which is the same amount as the previous month’s rise. That’s…

NEW YORK — Gregg Berhalter was fired as U.S. men’s football coach on Wednesday, nine days after his team lost in the first round of the Copa America, which made people question whether he should stay in charge for the 2026 World Cup. Ten months into his second stint as coach, Berhalter was fired. He had high hopes for the team and said their goal was to “change football in America forever.” His record after two stints is 44 wins, 17 losses, and 13 draws. In his second stint, the U.S. had seven wins, six losses, and one tie. Matt…

The 2024 Summer Olympics will start on July 26 in Paris. Fans and athletes from over 200 countries are expected to visit the city. The Olympics will be one of the most expensive ever. A new study by WalletHub says that hosting the 2024 Olympics will cost about $8.2 billion. This would make them the sixth most expensive Olympic Games ever, whether they are held in the summer or the winter. An Oxford University paper says that the Winter Olympics in Sochi in 2014 cost almost $25 billion, making them the most expensive ever. The next most expensive Olympics will…

Bank of America says that the euro’s value will only drop to the point where it is equal to the US dollar in the worst case scenario where everything goes wrong. When asked about rumours that the euro might soon reach parity with the U.S. dollar, Bank of America analysts said that such a drop would only happen in the worst-case scenario and would only last for a short time. “Some analysts keep coming up with new ways that EUR/USD could reach parity.” People at Bank of America, led by Athanasios Vamvakidis, said, “The analysis is not always wrong, but…