By Andy Sullivan WASHINGTON (Reuters) -U.S. President Donald Trump‘s sweeping tax-cut legislation would effectively transfer wealth from younger Americans to older generations, nonpartisan analysts say. Though the bill contains tax breaks for parents, newborns, private-school students and other younger Americans, those benefits would be outweighed by the trillions of dollars it would add to the…
US stock futures (ES=F, NQ=F, YM=F) tick up Wednesday morning, looking to rebound from recent market turbulence as the Magnificent Seven near correction territory. Semiconductor giant Nvidia (NVDA) is due to release its fourth quarter earnings results after today’s market close, with Wall Street paying close attention to how Nvidia will respond to the emergence…
President Donald Trump said he would ask Saudi Arabia and other OPEC nations to “bring down the cost of oil” and reiterated his threat to use tariffs to bring manufacturing back to the US as he addressed world leaders gathered in Davos on Thursday. Trump also said he would demand an immediate drop in interest…
Good morning. Tech stocks position for a strong rebound as a key chipmaker predicts a boom in demand. SpaceX wants its own city. And your favorite hot sauce may soon go from wild to mild. Listen to the day’s top stories. The AI spending frenzy looks like it still has a ways to go. Chipmaker…
JUSTIN LANE/POOL/EPA-EFE / Shutterstock / JUSTIN LANE/POOL/EPA-EFE / Shutterstock The 2017 Tax Cuts and Jobs Act (TCJA), signed by then-President Trump, was the most recent major overhaul to the IRS tax code. However, the legislation was criticized — by his opponents — for favoring corporations and wealthy taxpayers at the expense of middle class and…
Markets are betting Scott Bessent will be a force for stability inside Trump’s administration. For starters, investors like that Trump didn’t make another risky Cabinet nomination. They view his Wall Street pedigree as a plus, expecting him to pursue measured policies and soften the edges of Trump’s more bombastic agenda. Source link
Asian shares turned higher, with a rally in heavyweight Samsung Electronics Co. Ltd. offsetting earlier weakness stemming from reduced expectations for Federal Reserve policy easing. A key gauge of the region’s equities rose 0.3%, aided by Samsung Electronics’ gains after South Korea’s biggest firm announced a surprise stock buybackBloomberg Terminal plan. Shares in Hong Kong…
If Wall Street learned one thing during Donald Trump’s first term as president, it’s that the stock market is a way he keeps score. At various points he took credit for equities rallies, urged Americans to buy the dip, and even considered firing Federal Reserve Chairman Jerome Powell, who he blamed for a selloff. Now…
After a post-election risk-taking binge, stock investors sobered up this week as Jerome Powell’s go-slow message on interest-rate cuts cooled the Trump trade euphoria that drove Wall Street to records. With the world’s most important central banker in no hurry to ease monetary policy thanks to a still-robust labor market and strong economic data, bond…
Bitcoin spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump’s pro-crypto stance. The digital asset rose nearly 6% in the US to a record $93,462 but failed to hold the climb, falling back to $89,974 as of 10:28 a.m….