Author: starbpo

That being said, one Wall Street firm is going against the crowd by believing what new President Donald Trump says about tariffs. This firm now thinks that U.S. consumer prices will likely experience a “permanent shock” and the Federal Reserve will need to keep interest rates higher than they would be otherwise. One of twenty primary dealers that trades with the Federal Reserve’s regional bank in New York is BNP Paribas BNP -1.12%, based in Paris. The bank said it thinks Trump will keep “most if not all his campaign promises on foreign, economic and trade policy,” even those that…

Last few days, the stock market has been steadily rising. A drop of only 0.9% in the S&P 500 over the last two sessions seems to have made some traders nervous. Wall Street’s “fear gauge,” the CBOE VIX index VIX -3.53%, has gone up 11% since the end of last week, when it hit its lowest level in five months. It shows how volatile stocks are expected to be. It’s true that the sudden change in popular momentum on Monday raised some eyebrows, and some experts say it’s a sign of even more weakness to come. The S&P 500 SPX…

Leave 60/40 behind. Say goodbye to target-date funds. Goodbye, ties. A portfolio made up of only stocks is the best way to save the most money for retirement, make more money in retirement, make sure you don’t run out of money in retirement, and leave your loved ones the most money possible. Put all of your retirement savings into stocks: one-third in U.S. stocks and two-thirds in stocks from other countries. Right? No, says Aizhan Anarkulova, who is an assistant professor of finance at the Goizueta Business School at Emory University and co-author of Beyond the Status Quo: A Critical…

Shares of Macy’s Inc. were about to take a big drop Wednesday after the department store chain lowered its full-year profit forecast because of the effects of the “erroneous” accounting entries for shipping costs that were already known about. The company said that after looking into the false accounting, it found that from the fiscal fourth quarter of 2021 to the third quarter of 2024, “a single employee” hid about $151 million in small-package transportation costs. So, the financial statements for the last three fiscal years are being changed, and the results and forecasts for this year have also been…

General Motors Co. has given up on its Cruise robotaxis, saying that it would take too much time and money to grow the business and that the market for self-driving cars is “increasingly competitive.” The car company said that once the restructuring is done, which should be in the first half of 2025, it plans to cut its costs by more than $1 billion a year. When the market was open for longer on Tuesday, GM shares GM -2.29% went up more than 3%, and shares of Tesla Inc. TSLA +2.70%, a company that is betting its future on robotaxis,…

Washington, D.C. Tulsi Gabbard, President-elect Donald Trump’s choice for intelligence chief, was questioned again on Capitol Hill on Monday because she is close to Russia’s friend Syria and Assad’s hardline rule in that country suddenly fell apart. Gabbard didn’t answer yelled questions about her trip to war-torn Syria in 2017 while she snuck into one of several private meetings with senators who are being asked to approve Trump’s unusual nominees. But the former Democrat who is now a Republican Army National Reserve lieutenant colonel made a statement in which she said she still supported Trump’s “America First” approach to national…

Donald Trump said he couldn’t promise that the tariffs he planned to put on key U.S. trading partners wouldn’t make prices go up for American consumers. He also said that some of his political opponents and government officials who were pursuing legal cases against him should be jailed. The president-elect talked about a lot of things in an interview with NBC’s “Meet the Press” that aired Sunday. He talked about immigration, health care, abortion, and the role of the United States in Ukraine, Israel, and other places. Trump often said things that were true but also had caveats. For example,…

Macy’s Inc. stock went up 2.9% early Monday after two of the department store chain’s troubled owners started a campaign calling for a new way to get the company back to making money, including cutting costs and buying back shares faster. Barington Capital Group and Thor Equities are begging Macy’s to set up a real estate department that can find ways to make its high-end buildings more valuable. According to James Mitarotonda, head of Barington, the company invested in Macy’s because they think the shares are too cheap compared to the value of the company’s owned real estate assets and…

Early Monday morning, shares of Nvidia Corp. were going to fall for the third day in a row after a story said China was looking into the semiconductor giant and AI leader for antitrust reasons. NVDA -1.81%, Nvidia’s stock, fell 1.8% in premarket trade. It had already dropped 1.9% in the two previous sessions. There have been times when the U.S. government limited what Nvidia could sell to China for “national security” reasons, but China is still a big source of cash for Nvidia. In its fiscal third quarter, which ended on October 27, the company made $5.42 billion in…

After trading on Monday morning, futures show that the stock market will start the week just below its all-time high. This is because more and more bullish calls are coming in. John Stoltzfus, chief financial strategist at Oppenheimer Asset Management, is said to have set a 7,100 target for the S&P 500 SPX +0.25% by the end of 2025. This would be the highest goal on Wall Street. It looks like there is a lot of holiday cheer. Marco Iachini, senior vice president of research at Vanda Research, and Lucas Mantle, vice president of data science, say that even though…