Author: starbpo

During his 2016 presidential campaign, Donald Trump called himself the “king of debt.” He lived up to that name while running the economy during his first term. According to a new study by the Committee for a Responsible Federal Budget, that’s what happened. The study showed that during President Trump’s four years in office, he approved $8.4 trillion in new 10-year loans, while President Joe Biden only approved $4.3 trillion. Taking out the COVID stimulus money, Trump approved $4.8 trillion in new debt, while Biden only approved $2.2 trillion. Group for a Responsible Federal Budget The report said, “While past…

Seema Shah of Principal Asset Management says investors shouldn’t make “hasty” changes to their portfolios based on predictions for upcoming elections. This is because recent political surprises in France and other countries caused market losses. Shah, chief global strategist at Principal, said in a note, “Recent election surprises in Mexico, India, and the European Union have shown how volatile things can become when political outcomes aren’t expected.” “These events show how dangerous it is to base investment decisions on polls taken before an election, since unexpected results can quickly upset stock markets and currencies.” In the beginning of the month,…

So far in 2024, U.S. stocks have had a great election year rally. However, investors aren’t sure if the rally will continue, so they’re keeping an eye on data on inflation and economic growth to guess where the Federal Reserve might set interest rates. They’re also keeping an eye on data on corporate earnings in the second half of this year. As of now, the S&P 500 SPX is on track for its best first half performance in an election year since 1976. It is also on track for its second-best performance in an election year overall. That being said,…

The next few weeks will be very busy for investors, with elections in France, the U.K., and Iran, as well as the debate between President Joe Biden and Republican Donald Trump on Thursday. Smart people say that it all points to what could be a very exciting time, especially for the global bond market and the currency market that is open all the time. Thierry Wizman, global FX and rates strategist at Macquarie, said on Monday, “We are entering a politically charged three-week period for markets.” The three weeks will end with the Republican National Convention from July 15–18. Even…

With filing season underway, here are two tips for getting your refund ASAP. The IRS typically tells taxpayers it will take 21 days to receive their refund after filing. However, that time frame can be shortened to two weeks by making minor adjustments to how you file, according to CPA Practice Advisor, a publication for tax pros, which publishes a refund calendar based on average timetables for IRS refunds over the last 20 years. “The most important factor in receiving a refund as quickly as you can is to file electronically because filing on paper can add several weeks or…

Financial institutions in the European Union are on the verge of being impacted by a new ESG requirement, a development they fought hard to evade. A joint document dated January 24, obtained by Bloomberg, reveals that the European Parliament and the European Council are progressing towards an agreement. The document suggests that banks, asset managers, and insurers should be treated similarly to other companies in ensuring their value chains remain free from environmental and human rights violations. The document emphasizes that financial entities, like companies in other sectors, should play a role in safeguarding human rights and the environment, core…

Global X, a prominent exchange-traded funds (ETFs) provider, has officially pulled out its application for a spot bitcoin ETF, as revealed in a regulatory filing on Tuesday. This move positions Global X as the first among the companies that sought approval from the U.S. Securities and Exchange Commission (SEC) last year to withdraw their applications. The company boasted approximately $51 billion in assets under management across its ETFs worldwide as of December 2023, as reported on its website. In a recent development, the SEC granted approval for 11 spot bitcoin ETFs earlier this month, including renowned offerings like BlackRock’s iShares…

As he runs for president, Donald Trump is supporting cryptocurrency, and the cryptocurrency industry is supporting him back. Even though the former president spoke out against crypto and made policy changes during his first term, it looks like he has persuaded some big names in the industry that he has changed his mind. Tyler Winklevoss, co-founder of the cryptocurrency exchange Gemini, wrote on X Thursday, “President Donald J. Trump is the pro-bitcoin, pro-crypto, and pro-business choice.” He also said that he had donated $1 million in bitcoin BTCUSD, 0.05% to Trump’s campaign, and his twin brother and business partner, Cameron…

As demand for artificial intelligence (AI) grew, this was supposed to be a great year for the whole semiconductor industry. But in the first half of 2024, Nvidia Corp. has once again taken the lead, moving the stock market up while leaving other AI companies in its wake. Nvidia NVDA, -3.22% is now the clear leader in AI. Earlier this week, it became the world’s most valuable public company, but it quickly lost that title. According to market analysts, the recent underperformance of some exchange-traded funds that deal with AI shows that Nvidia’s success hasn’t yet spread to the rest…

Over the past week, options traders put more money into bullish bets on megacap growth stocks like Nvidia Corp. than at any other time since the peak during the pandemic. Trading in bullish call contracts was about 4.5 million contracts higher than trading in bearish puts over the five days ending on Friday, according to data from the Options Clearing Corp. that Deutsche Bank shared in a research note on Friday. The crazy options trading was part of a bigger shift in how investors are positioning their money: traders are favoring technology stocks more and more, especially megacaps like Nvidia…