Author: starbpo

“I believe the Trump economic agenda is likely to significantly increase inflation,” said Larry Summers, a prominent Democratic economist, during an event at the Economic Club of New York alongside Republican economist Glenn Hubbard on Tuesday. Summers identified several of Donald Trump’s proposed policies that he believes will raise prices, expressing concern about the lack of respect for the Federal Reserve’s independence, signals favoring a weak dollar, tax cuts without corresponding spending cuts, and the implementation of significant tariffs not seen in the last fifty years. Summers referenced an April report suggesting that some of Trump’s allies have ideas that…

House Republicans are renewing efforts to reduce the Internal Revenue Service’s budget, with a committee suggesting a bill that would cut $2.2 billion, nearly 18%. Most of this reduction — $2 billion — would come from the tax agency’s enforcement budget. The bill “reduces wasteful spending and aims to stop agencies like the IRS from unfairly targeting hardworking Americans,” said Rep. Dave Joyce, an Ohio Republican and chair of the House Appropriations Committee’s subcommittee for financial services and general government, in a statement on Tuesday. Democrats disagree. Their primary concerns involve enforcement. The Inflation Reduction Act, a Democratic law passed…

Despite strong quarterly results, DocuSign Inc.’s stock declined in after-hours trading on Thursday. DocuSign (DOCU) reported fiscal first-quarter net income of $33.8 million, or 16 cents per share, compared to breaking even in the same period last year. Adjusted earnings per share were 82 cents, surpassing the FactSet analyst estimate of 79 cents. Revenue increased by 7% to $709.6 million, slightly higher than the expected $707 million. CEO Allan Thygesen stated that the company has “continued to stabilize the business and improve profitability, allowing Docusign to continue investing for long-term growth.” Despite this, the stock fell over 6% in extended…

Cynthia Petion claimed she had a “vision from God” while brushing her teeth that inspired her to create a crypto investment platform. In 2019, she founded NovaTechFX and appointed herself “Reverend CEO,” targeting churchgoing Haitian-Americans with promises of up to 200% returns within a year. Over three years, investigators say Petion and her husband, Eddy, amassed $1 billion in cryptocurrency investments through a Ponzi scheme that exploited tens of thousands of primarily poor immigrant investors, according to New York Attorney General Letitia James. As the scheme neared collapse in 2022, the Petions sold their Florida home and moved to Panama…

The 10-year Treasury yield has dropped to an important level. If it continues to decline, certain stocks could benefit significantly. The yield has decreased to around 4.3% from a peak of about 4.7% earlier this year. With economic growth and inflation indicators slowing, bond returns have become more appealing, pushing bond prices up and yields down. A further drop in the yield could suggest it will stay lower for an extended period. Currently, it’s holding just above 4.2%, a level where sellers have previously driven the price lower and the yield higher. If it falls below this point now, it…

Nvidia’s stock dropped on Thursday after the company became the world’s second most valuable. Shares closed 1.2% lower at $1,209.98, following a 5.2% increase on Wednesday. This rise pushed Nvidia’s market capitalization to $3.01 trillion, surpassing Apple’s and placing it second only to Microsoft’s $3.15 trillion market cap. Nvidia has achieved several record highs this week, driven by CEO Jensen Huang’s weekend announcement of plans for the Blackwell Ultra chip in 2025 and the Rubin platform in 2026. The company is also set to complete a 10-for-1 stock split on Friday. CFRA analyst Angelo Zino, who has a Buy rating…

The news stories about how much Big Macs cost now are making McDonald’s Corp. very angry, and the fast food giant won’t take it anymore. CEO of McDonald’s USA, Joe Erlinger, wrote a letter to the company’s “fans” in the U.S. to bust some myths, especially those about hyper-inflation. Because his company feeds almost 90% of the people in the U.S. every year, he said he felt obligated to share the “real facts.” “Recently, there have been social media posts and news stories with questionable sources that say McDonald’s has raised prices much more than the rate of inflation.” “This…

Stock futures went down a little on Friday while Wall Street looked over a number of important earnings reports and waited for new U.S. inflation data to come out. On Friday, these stocks were about to move: Dell Technologies reported more money than expected in the first quarter. This was due to strong demand for servers that use AI and improvement in the business selling personal computers. In premarket trading, however, the stock was down 15% after the company talked about new pressures on margins. Yvonne McGill, the company’s chief financial officer, told Barron’s that the company expects some margin…

Is there good news on the way for U.S. inflation? Wall Street is hoping that a key inflation report for April on Friday will show that prices are falling more slowly. This could help stop the recent drop in the stock market. When the April numbers come out on Friday morning, the PCE index is expected to have gone up by 0.3%. Some analysts think the increase will be even smaller, at 0.2%. The Federal Reserve likes the PCE as a price indicator because it gives the most complete picture of inflation. The index went up a lot more than…

It will cost 50% more than expected to extend the 2017 tax law, which was the most important thing that Donald Trump’s administration did. This is because wealthy taxpayers have found loopholes that let them pay much less in taxes. That’s what a report released Thursday by the nonpartisan Committee for a Responsible Budget, which wants to save money, says. It would cost the Treasury Department $4 trillion over 10 years to extend the Trump tax cuts. This is up from $286 billion in 2018, and it continues a trend where the costs of the tax cuts rise every year.…