In this article SNAP In this screengrab, CEO of Snap Inc. Evan Spiegel takes the stage at the virtual Snap Partner Summit 2021 on May 20, 2021 in Los Angeles. Snap Partner Summit 2021 – Snap Inc | Getty Images Snap stock fell 25% after reporting its third-quarter earnings on Thursday. The company’s revenue missed
admin
A specialist trader works inside a booth on the floor of the New York Stock Exchange (NYSE) in New York City, October 6, 2021. Brendan McDermid | Reuters Stock futures dipped slightly in overnight trading Thursday after the S&P 500 reached new highs. Futures on the Dow Jones Industrial Average shed 15 points. S&P 500
Atlanta Federal Reserve President Raphael Bostic said Thursday that he sees an interest rate hike coming later in 2022 as he forecasts a growing economy and lasting inflation pressures. The central bank official told CNBC that he has “penciled in” a rate increase in “late third, maybe early fourth” quarter of 2022. The expectation puts
House Speaker Nancy Pelosi, D-Calif., speaks outside of the U.S. Capitol on Oct. 20, 2021. Mandel Ngan | AFP | Getty Images As Democrats wrestle over their spending package, key lawmakers are still fighting to change the $10,000 cap on the federal deduction for state and local taxes. The measure, known as SALT, is a
President Biden and congressional Democrats have justified their plan to raise taxes on the rich to fund much of their $3.5 trillion spending by claiming that the tax code is not progressive enough. Yet a recent Joint Committee on Taxation (JCT) analysis of the House Ways and Means tax plan undermines that thesis by showing
People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — China’s central bank is poised to move carefully toward easing monetary policy, even as the U.S. is on its way to tightening policy. In moving in the opposite
A woman smokes an E-Cigarette at Digital Ciggz in San Rafael, California. Justin Sullivan | Getty Images For the sake of America’s kids, the Food and Drug Administration cannot reject the reality of today’s youth vaping epidemic. Last week, FDA approved the first-ever e-cigarettes to stay on the U.S. market, R.J. Reynolds’ Vuse tobacco-flavored vaping
AutoNation’s stock reached a new all-time record of more than $130 a share Thursday after the nation’s largest seller of new cars reported its sixth consecutive quarterly earnings record. AutoNation beat Wall Street’s profit and sales estimates, led by resilient consumer demand outpacing vehicle supplies due to an ongoing global shortage of semiconductor chips that
In this article BTC.CM= Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Cryptocurrency exchange FTX says it has raised $420 million in a new round of funding, valuing the company at $25 billion. The Bahamas-based firm
In this article GSBD A trader works on the floor of the New York Stock Exchange (NYSE) in New York, Sept. 20, 2021. Michael Nagle | Bloomberg | Getty Images Goldman Sachs just closed its second billion-dollar blank-check deal ever as the Wall Street firm seeks to change the struggling SPAC market by building a
In this article JPM hxyume | E+ | Getty Images About 1 out of every 5 drivers in the gig economy was collecting unemployment benefits at the pandemic’s peak, according to a new analysis published by the JPMorgan Chase Institute. These drivers worked for “online platforms” offering services like ride hailing (Uber and Lyft, for
The U.S. Department of Education in Washington, D.C. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images In March 2020, the U.S. Department of Education offered the millions of Americans with student loans the option of pressing the pause button on their bills. Close to 90% of borrowers — or 24 million people — accepted.