Author: starbpo

The numbers: A small drop in the number of Americans applying for unemployment benefits was seen last week, but the number of new jobless claims stayed close to a 10-month high. This may have something to do with the end of the school year. The number of new claims dropped from 243,000 the week before to 238,000, the government said Thursday. Two weeks ago, there were more claims than at any time since August 2023. Last year, a lot of new jobless claims came in after school ended. This may be happening again. In some states, like Minnesota, people who…

Goldman Sachs strategists say that this is a way to protect against inflation risks caused by the U.S. election. According to them, inflation and bond returns would be most at risk if the Republicans won both the presidency and both houses of Congress. This is because of higher import tariffs, slower immigration, tighter sanctions on Iranian oil, lower taxes, and, as Goldman put it, “stronger attempts to influence Fed policy.” Trump, the former president who is on track to become the Republican nominee for president for a third time in a row, has suggested that tariffs should be used instead…

The Supreme Court upheld a federal tax that made a couple from Washington pay for the gains they made on an investment even though they never made any money from it. The court said that the couple’s share in a foreign company had already been turned into taxable income. Fans and opponents of the case wanted the Supreme Court to use it as an opportunity to decide if wealth taxes are legal or not, but the majority chose not to get involved. Still, some people who support a wealth tax saw that as a green light. In fact, the 7-2…

Analysts at CryptoQuant say that Bitcoin has fallen below its 50-day average of around $65,800, which is a key support level. This means that the price could go down by 8% to 12%. Analysts said that the price of the coin could go down to $60,000. Bloomberg says that the market value of the biggest cryptocurrency, BTCUSD, -2.87%, fell 2% on Tuesday to about $64,625. It’s up more than 50% so far this year, but it’s still more than 12% below its all-time high of $73,798 in March. Katie Stockton, founder and managing partner at Fairlead Strategies, says that the…

Canaccord Genuity said that E.l.f. Beauty stock will continue to grow, which caused it to continue to rise sharply on Tuesday. Analyst Susan Anderson raised her price target for e.l.f. from $214 to $250, which is a 28% rise from Monday’s closing price of the stock. Anderson also gave her Buy rating again. Anderson wrote in a research note, “Current tracked sales data look great; untracked channel sales have been growing at triple-digit rates; and ELF is still waiting for the boost from major shelf space additions planned for this summer.” “We think this sets up ELF for another year…

NEW YORK — The highest court in New York did not hear Donald Trump’s appeal of his gag order in his hush-money case on Tuesday. The restrictions will remain in place after he was found guilty of all 34 counts of felony in the trial last month. The Court of Appeals decided that the order does not bring up “substantial” constitutional issues that need to be dealt with right away. The decision is the latest legal setback for the former Republican president. He has been protesting against a gag order that keeps him from talking about witnesses, jurors, and other…

In recent years, a lot of people have crossed the border illegally. This has caused a lot of debate about U.S. immigration policy. However, official estimates show that the rise in migration across the U.S.-Mexico border has been great for the federal budget. The Congressional Budget Office said on Tuesday that the rise in immigration since 2021 and its expectation that it will continue until 2026 will bring in $1.2 trillion in federal tax revenue over the next few years while only costing $300 billion. The CBO said that most of the extra money comes from immigrants paying payroll taxes…

Trump Media & Technology Group is the parent company of former President Donald Trump’s Truth Social platform. On Tuesday, shares of the company fell because there wasn’t much news before the midweek Juneteenth holiday. Trade in the stock was around $30.15 just after 2:30 p.m. ET, down more than 13%. The S&P 500 went up 0.2 percent. Dow Jones Market Data said that Trump Media stock was on track for its worst close since April 17, when it closed at $26.40, and its biggest drop in value since April 16, when it dropped 14.2%. At first, it wasn’t clear what…

NEW YORK — Apple is ending Apple Pay Later, its buy-now-pay-later service, just a year after it launched in the U.S. Instead, it will work with Affirm and Klarna, two companies that already dominate the market. Apple has been building a financial services business from scratch for several years. This is an admission from a company AAPL, -0.86% known for making hit products that it is hard and very competitive. With Apple Pay Later, iPhone buyers could pay for purchases up to $1,000 over four equal payments, with no fees or interest. The service came out to a lot of…

Vanguard, the second-largest financial advisory firm in the country, will start charging a lot of new fees to brokerage account holders on July 1. One of these fees is $100 to close an account or move assets to another firm. People who have at least $5 million in assets will not have to pay that fee, though. Vanguard has always offered low-cost ways to invest and was one of the first companies to offer passively managed index funds. This account-closure fee is a first for the company. Not all customers are happy with the new fees. A 39-year-old Vanguard customer…