The DORKs are popular this week. With stocks at record highs, there’s a new class of meme stocks that’s grabbed the attention of retail traders. Absent are the OG meme names GameStop and AMC. Those early favorites have been replaced by another group. The DORKs—an acronym being thrown around by bullish traders to refer to…
Good morning. Congratulations to Vice President JD Vance, who sold his home just outside Washington, DC, for $172,000 over the asking price after less than three weeks on the market. The buyer? A former Trump official. In today’s big story, investors are shocked to be battling against President Donald Trump as the stock market closed…
The Federal Reserve isn’t expected to announce any changes to its key interest rate Wednesday, a sign of caution amid significant economic uncertainty.These borrowing costs have wide ripple effects across the economy, influencing mortgages, car loans and credit cards. The Fed previously raised its benchmark rate in a rapid series of hikes to fight pandemic-era…
Apple and Android brought TikTok back to their app stores for US users on Thursday night. Since late January, TikTok’s service — but not the app itself — was available in the US. TikTok’s app was removed due to a divest-or-ban law signed by former President Joe Biden. Apple and Android have restored TikTok to…
Bond yields spiked after the January jobs report. While hiring in January was weaker than expected, other data indicates a strong labor market. Markets increased bets that the Fed will keep rates steady Bond yields shot up on Friday as markets took in the January jobs report. While the nonfarm payroll report showed employers added…
Volkswagen is committed to China despite a “ruinous” domestic EV price war, its brand chief says. Thomas Schäfer says VW wants to remain the biggest international automaker in the country. He made the comments in an interview with Welt Am Sonntag, BI’s sister outlet. Volkswagen remains firmly committed to China despite a “ruinous” EV price…