Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Rocket Companies – The online mortgage provider’s stock dropped close to 20% after a surprise rally in the previous session as analysts urged caution in the heightened speculative trading in the
Month: March 2021
by confoundedinterest17 Wow. Everything seems to be surging in price. Yesterday, I wrote about rising food prices along with rising lumber prices. A former Ohio State University student, Brett Reid, asked me about alternative building material prices since lumber is getting so expensive. Well Brett, here are the rising futures prices of steel rebar and iron
Ordinarily, a tenth anniversary is a cause for celebration and reflection. But there were hardly any encomiums for bitcoin, which celebrated the tenth anniversary of its introduction to the world in 2018. Satoshi Nakamoto, who authored the whitepaper that introduced bitcoin to the world, is supposed to have created the digital currency in 2008 in
A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket | Getty Images Shares of Rocket Companies dropped more than 11% in premarket trading Wednesday following a surprise rally in the previous session, as Wall Street analysts raised red flags on the frenzy trading. The online
Germany’s financial watchdog BaFin has filed a criminal complaint against Greensill Bank’s management for suspected balance sheet manipulation, according to people directly familiar with the matter. The complaint was filed on Wednesday with criminal prosecutors in Bremen, where the bank’s headquarters are based. It relates to interim findings of an ongoing forensic probe of the
Deloitte has struck an $80m settlement with Malaysia over its role as an auditor to 1Malaysia Development Berhad, the state investment fund at the centre of a multibillion-dollar embezzlement scandal. The Malaysian government said on Wednesday that the settlement will resolve all claims linked to Deloitte’s fiduciary duty when auditing accounts for 1MDB and its
IRA trusts may have lost some of their luster in the wake of the SECURE Act. Under the act, long-term tax deferral is still permitted for certain IRA beneficiaries but others must empty the inherited account within 10 years. Beneficiaries of employer-sponsored qualified plans face the same new rules. “The term ‘IRA trust’ may be
“We felt like we were doing God’s work,” explains cryptocurrency payments pioneer Erik Voorhees as he recalls trying to convert the unbelievers in the early days of Bitcoin. The man whose gambling platform SatoshiDice was once responsible for half of all Bitcoin transactions, is now an elder statesman of crypto and the CEO of the
In recent years, we’ve witnessed a new generation taking over as property seekers and investors as older investors retire. For real estate professionals, adjusting to the generational changes and new demographics is an absolute necessity. In between each generation, how they consider the market and the metrics, and what they keep an eye on, may
Dan Gilbert, chairman, Quicken Loans Anjali Sundaram | CNBC Tuesday’s dramatic and abnormal spike in the stock of Rocket Companies created a major windfall for founder Dan Gilbert, at least on paper. Shares of Rocket, where Gilbert is the majority shareholder, jumped more than 70% on Tuesday, adding $17.30 per share. According to InsiderScore.com and
According to the findings of a joint Arcane Research and Bitstamp study, bitcoin’s unique characteristics, which include it being “the most portable asset”, are the likely contributing factors behind the increasing use of the crypto as a collateral asset. Bitcoin Unmatched This is evidenced by the study’s data which shows that approximately “420,000 bitcoins were
Senators Mark Warner (D-VA) and Angus King (I-ME) propose to redirect ill-targeted covid relief … [+] funds to valuable public investments. CQ-Roll Call, Inc via Getty Images In the coming days, the Senate will take up the $1.9 trillion covid relief bill that passed the House of Representatives last week on a party-line vote. It’s
Gov. Gina Raimondo’s confirmation by the U.S. Senate as commerce secretary on Tuesday marked the passing of the torch in Rhode Island to Lt. Gov. Dan McKee. Democrat Raimondo, 49, resigned after the Senate confirmed President Biden’s January nomination of her to the cabinet position by an 84-15 vote. Approvals included leading Republicans such as
Silver seemed struggling to capitalize on the overnight bounce from over one-month lows. The set-up seems tilted in favour of bearish traders and supports prospects for a further slide. A sustained move beyond the $27.00 mark is needed to negate the near-term bearish outlook. Silver reversed a modest intraday dip and climbed to the top
If zero interest policies and other forms of financial repression were not hard enough on the average person, wait till they’re… by Doug French via Mises A gentleman who does work for us sent me a text recently saying the price of his supplies has increased 20 percent, so he wants to increase his monthly
Beyond Meat expects to raise $979.4 million from its debt offering after deducting the initial purchasers’ offering expenses, discounts, and commissions. Beyond Meat (BYND), the plant-based meat company, intends to use $73 million of the net proceeds to fund the cost of capped call transactions in relation to the pricing of notes and the remainder
A worker wrestles a stand of drill pipe into place on a drilling rig near Midland, Texas. Nick Oxford | Reuters The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s an important turning point for the fossil fuel sector, which has been anticipating big changes
by Michael Snyder Is the quality of life in America getting better, or is it getting worse? Americans certainly have a lot more “money” than they did when I was a kid, but that doesn’t mean much because the U.S. dollar has only a fraction of the value that it did back then. And without
Founded in 1935, the Pentagon Federal Credit Union, generally known as PenFed, is a large financial institution with branches across the U.S. and on military bases around the world. While PenFed does cater to those in military service and their families, its membership isn’t limited: Anyone can join the credit union and use its variety
The WallStreetBets forum on the Reddit Inc. website on a laptop computer and the logo on a smartphone arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images Shares of Rocket Companies rallied more than 20% Tuesday in a surprising move on no apparent new news. The
The US has delivered more than 100m doses since the rollout of coronavirus vaccines began late last year, hitting the milestone just as Johnson & Johnson began sending out its first shipments. There have been 102.4m doses delivered as of early Tuesday, up from 96.4m the day before, according to the Centers for Disease Control
The US is working with Japan, India and Australia to develop a plan to distribute Covid-19 vaccines to countries in Asia as part of a broader strategy to counter China’s influence. The White House has held discussions with other members of the Quad, a diplomatic and security initiative between the countries, in recent weeks, according
AssetMark is the latest turnkey asset management firm to buy its own financial planning software. For $145 million, the Concord, California-based TAMP, which provides outsourced investment management and technology to independent financial advisors, will acquire Voyant, a financial planning software used by 20,000 financial advisors across 11 large financial institutions and 2,100 independent advisory firms.
The United States Internal Revenue Service, or IRS, has updated its FAQ section on cryptocurrency to clarify investors who have only purchased crypto assets with fiat currency do not need to report their transactions under the “virtual currency” question. The first page of U.S. citizens’ Individual Income Tax Return form, or Form 1040, asks whether
An abstract painting depicting a scene from “Rocky” sits above the bar in the Beverly Hills-area … [+] home of actor Sylvester Stallone. Hilton & Hyland | Berlyn Photography 2021 Sylvester Stallone may be best known for playing fictional Philadelphian Rocky Balboa on the big screen, but when it comes to offscreen living, the box-office
press release PRESS RELEASE. BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of OMI Tokens (OMI) under the trading pair of OMI/USDT on March 2nd at 9:00 a.m. EST. ECOMI is leading the way in the mass market digital collectible space. Its app, VeVe,
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about whether taking Social Security survivor’s benefits now would reduce retirement benefits taken as late as 70, whether and when Social Security recalculates benefits based on income and retirement benefits before divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and
Municipals were little changed with triple-A benchmarks holding steady and investors on the sidelines Tuesday awaiting new paper to test the higher-yield environment as U.S. Treasuries pared back morning losses and equities fell after Monday’s record rally. New York City priced bonds for retail investors for the second day with no changes from Monday’s levels.
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Rio Tinto announced today that its Chairman Simon Thompson has informed the company’s Board that he will not seek re-election
The desperation is becoming more obvious by the day… by J. Johnson via JS Mineset Great and Wonderful Tuesday Morning Folks, Late last night, I observed the hammer coming back to nail the precious metals lower. To me, the desperation is becoming more obvious by the day, as Gold reversed with the April contract