Author: starbpo

She has done the math and knows that Brooke Scott wants to live her own American dream. She said she needs to make $300,000 a year to get there. So she could pay her home, raise her kids, put money into her retirement account, and live a safe and happy life, she said. The 32-year-old woman from Los Angeles, who works as a legal assistant, carefully explained how she came up with that number. She said that $300,000 could be the total amount of money she and her partner made. Scott agreed that “you can definitely make it work with…

A Democratic lawmaker who is in charge of the Education Department warned Thursday that President Joe Biden’s administration needs to act quickly to cancel the student loans of borrowers who were already promised relief before Donald Trump takes office. If they don’t, the White House’s plan to help people with their loans could be harmed. Through changes to the student loan program, the Biden-Harris Administration has done a lot to help people who are struggling because of the rising cost of college, wrote Rep. Bobby Scott of Virginia to Education Secretary Miguel Cardona. Scott is the top Democrat on the…

Scott Bessent, a hedge fund manager, has been chosen by President-elect Donald Trump to be secretary of the Treasury Department. Trump chose a Wall Street figure that he praised during his campaign for a key leadership job in his second administration. People have thought for months that Bessent would be a good choice for the Treasury job. He has called for a second Trump presidency to focus on lowering the federal debt, reducing regulations, and making more energy. He has also supported the president-elect’s economic policies against claims that they will cause inflation. In July, he told MarketWatch that the…

Picture: Associated Press Washington, D.C. Thursday, the U.S. House passed a bill that would give the Treasury Department the power to take away the tax-exempt status of nonprofits that it says support terrorism. This has civil liberties groups worried about how a second Trump president could use this power to punish political opponents. The bill passed with 219 votes to 184. Most of the votes came from Republicans, who said that Democrats had changed their minds about supporting the “common sense” plan only after Donald Trump was elected to a second term earlier this month. On the House floor before…

As of Friday morning, the S&P 500 SPX 0.29% is less than 1% off its record closing high. This comes after Nvidia NVDA -3.14% reported results and made predictions. This week was the peak of U.S. company earnings season. There are still a lot of unknowns that could make investors less excited. For example, President-elect Trump’s choice for Treasury secretary and December’s Federal Reserve policy meeting—where another rate cut is not likely—are two examples. But even with those problems, a lot of traders and experts seem to think that stocks will have their usual good run until the end of…

If the stock market doesn’t like uncertainty, then why has it been going up since Election Day? After all, investors don’t know how President-Elect Donald Trump’s policies will actually work out. On the other hand, if U.S. Vice President Kamala Harris had won the election, investors could have expected less uncertainty and more stability. That’s not how the stock market sees it. Today, November 8, 2018, the Dow Jones Industrial Average DJIA 0.08% is up 4.9%. At the same time, the Russell 2000 index of small and midcap stocks, which are more affected by changes in the economy, has gained…

It was the economy, not the economy. That’s the message that a lot of experts are getting from the election on Tuesday, when former President Donald Trump easily beat Vice President Kamala Harris in key states. A lot of people across the country voted for the former businessman, who promised to fix what he called a “terrible economy.” As a candidate, the Republican nominee played on Americans’ ongoing anger over the rising cost of living. He blamed both President Joe Biden and a wave of new immigrants for the post-pandemic inflation that caused prices for things like eggs, car insurance,…

Rivian Automotive Inc. and Volkswagen Group have started their bigger joint venture and say they will work together to make “cutting edge” electric vehicle technology. Rivian RIVN 18.86% and the German car company VOW -2.99% said the deal is worth $5.8 billion, which is more than they said in June when they first announced it. As of Wednesday, the JV is up and running. Both companies’ strengths will be used to make cutting-edge software and electronics designs and to make the platforms and architectures for electric vehicles bigger, the companies said. “Our goal is to give customers the best technological…

Honeywell International Inc. stock hit a new high on Tuesday after activist investor Elliott Investment Management L.P. said it had a big stake in the company and wanted it to be broken up. Elliott said that getting two of the biggest parts of the company apart could make the stock go up 51% to 75% in the next two years. It’s time to accept simplification, Elliott partners Marc Steinberg and Jesse Cohn wrote in a letter to Honeywell’s board of directors. “The conglomerate structure that once worked for Honeywell no longer does,” they said. The price of Honeywell’s stock HON…

The success of Donald Trump in the 2024 U.S. presidential election has helped Wall Street believe in the dollar again. Without a doubt, the dollar had begun to rise before Trump won a second term on November 5. Investors’ worries about a possible contested result had caused expectations of more volatility in the stock and bond markets to rise. But Trump was able to claim win soon after the polls closed. This made it possible for stocks, the dollar, and Treasury yields to rise to all-time highs on Wednesday morning. Since then, the dollar has kept getting stronger, making the…