Author: starbpo

Stocks in China had a mixed response on Monday to a press meeting over the weekend where officials promised more action but didn’t give a clear number for how much the country would spend to do it. On the last trading day, the Shanghai Composite SHCOMP 2.07% went up 2.1% and the Hang Seng HSI -0.75% went down 0.8%. Both indexes have gone up since China cut interest rates and took a lot of other steps to help the economy last month. In premarket trade, the stock of Alibaba Group Holding Ltd. (BABA -2.05%) fell 2% and the stock of…

SIEMENS (AP) — Daron Acemoglu, Simon Johnson, and James A. Robinson won the Nobel Memorial Prize in economics on Monday for their work that shows why countries with weak institutions and bad rule of law don’t have sustainable growth. The Nobel committee of the Royal Swedish Academy of Sciences said at the ceremony in Stockholm that the three economists “have shown how important social institutions are for a country’s prosperity.” Robinson does his work at the University of Chicago, while Acemoglu and Johnson work at the Massachusetts Institute of Technology. “One of the most important problems of our time is…

Shaman Shu said that a spiritual trip to Costa Rica gave him the idea to open a trippy church in Detroit. When he first went back to Michigan, he put forward a vote measure to make using magic mushrooms in the city less illegal. It was passed by a large majority in 2021. Then he bought the old Bushnell Congregational Church and turned it into Soul Tribes International Ministries. There, psilocybin mushrooms were used as a holy meal. Shaman Shu told the Detroit Metro Times in 2023, “We’re a small indigenous belief system that believes we can heal the world…

Bitcoin options traders think that there won’t be much instability around the Nov. 5 election for president of the United States, but they do expect a rally at the end of the year that could take the cryptocurrency as high as $100,000. The biggest cryptocurrency, BTCUSD 4.49%, traded at about $65,705 on Monday. It is up 56% so far this year, but it is still 11% below its all-time high of $73,798 set in March. But the S&P 500 SPX 0.72% is up 22.8% so far this year and the Dow Jones Industrial Average DJIA 0.39% is up 14.3% so…

Goldman Sachs says that as the AI sector continues to change, so-called “platform” stocks like Microsoft and Snowflake are the most appealing part of it right now. In a recent note, Goldman analysts led by Ryan Hammond went over their “four phases of AI” investment theory again and looked at which stocks would be the best bet for the next few months. In conclusion, Goldman sees Nvidia NVDA 2.70% as the “clearest near-term AI beneficiary” for Phase 1. Goldman gave Phase 2 the acronym GSCBAIP2 to help people remember it. It includes companies that work with AI infrastructure, such as…

As December 31 draws near, selling stocks to get rid of tax losses unfairly lowers their prices. Things that go down often go up again, though. The selling at the end of the year sets these stocks up for a big bounce after the New Year. Tax-loss selling means selling your winners to wipe out the capital gains that you would have to pay taxes on. This happens a lot of the time every year, but it’s probably going to happen even more this year because the market is so strong and many buyers have already made a lot of…

New 25% tariffs on imported kitchen cabinets are scheduled to be implemented by the Trump administration at 12:01 a.m. Eastern. Such cabinets are on show last month at a retailer in Houston. The latest tariffs imposed by U.S. President Donald Trump on timber, upholstered furniture, bathroom vanities, and kitchen cabinets are scheduled to go into effect on Tuesday, increasing the number of industries subject to import duties. Trump has imposed country-specific tariffs in addition to sector-based penalties. For example, he warned last week to raise a hefty levy on Chinese imports in a “massive” manner. What is the present status…

Many investors are on edge due to recent trade tensions between the United States and China. Prior to last Friday, when a Truth Social post warning of a major tariff rise on Chinese products caused billions of dollars in stocks and cryptocurrency positions to disappear, investors appeared to have left President Donald Trump’s global trade war mostly behind them. After a weekend update in which Trump reassured the public that there was no need for concern over China, financial markets were relatively calm again one session later. Additionally, there were some assurances from China: In a statement, the Ministry of…

In May, Nicki Minaj attended the Met Gala in New York City. Rappers Cardi B and Nicki Minaj have lately rekindled their long-running feud on social media with an intense verbal sparring match. Cardi, 32, and Minaj, 42, engaged in a series of since-deleted tweets on X, formerly known as Twitter, on Monday night. Cardi is now expecting her fourth child, her first with NFL star Stefon Diggs. Minaj’s post that said “$4.99,” the promotional price of Cardi’s album “Am I the Drama?” sparked the most recent controversy. On September 27, 2025, Cardi B will perform in New York City…

With the news of a six-part documentary series that will premiere on Disney+, Taylor Swift’s dominance of the entertainment industry continues. The world seems to be obsessed with Taylor Swift. The world’s biggest singer, and record-setting recording artist, revealed Monday that a six-part documentary series about her final concert tour will premiere on Disney+ in December. Swift’s “The Eras Tour,” which concluded in December 2024 and was already the subject of a concert movie that made close to $262 million globally, will be chronicled behind the scenes in the series. Swift’s revelation coincides with a frenzy of releases and promotional…