Author: News Room
Last updated: May 14, 2024 14:31 EDT | 3 min read Crypto markets were in a sea of red on Tuesday in the wake of US PPI inflation data and comments from Fed Chair Jerome Powell, with investors struggling to pick which crypto to buy now.The only top 100 crypto in the green in the past 24 hours is Pepe, which just hit record highs.Iconic GameStop investor Roaring Kitty, a key figure in the 2021 meme stock craze, returned to social media on Monday.And his return triggered a spike in speculative trading activity, with the likes of GME, AMC and…
The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The surge had nothing to do with the troubled company’s fundamentals — and everything to do with a cartoon of a gamer that the trader, nicknamed Roaring Kitty, shared on X. GameStop shares surged 74% on Monday after the account run by Keith Gill shared a meme on X, marking its first post in three years. The shares skyrocketed by more than 110% earlier and were halted for volatility several times on Monday morning. Short sellers have seen…
We are buying 50 shares of Estee Lauder at roughly $134.50. Following the trade, Jim Cramer’s Charitable Trust will own 525 shares of EL, increasing its weighting to 2.2% from 2%. A couple of recent data points from China have us feeling incrementally better about this battleground position. First, China reported late Friday that its consumer price index increased 0.3% year over year in April, higher than forecasts of a 0.1% increase and an acceleration from the 0.1% growth in March. It was also the third straight month of higher consumer prices. These are small steps, but the rising CPI…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Market talk: The S & P 500 continues to trade in a tight range Tuesday, with no significant budge in either direction. It’s similar to the action we’ve seen over the past several trading sessions. In four of the past five sessions, the S & P 500 has not closed more…
Americans racked up more debt at the beginning of 2024 – and a growing number of households fell behind on payments for several types of loans, according to a New York Federal Reserve report published Tuesday. In the first three months of 2024, total household debt surged to a fresh record of $17.69 trillion, an increase of $184 billion, or 1.1% from the previous quarter. The increase mostly stemmed from a jump in mortgage balances, which rose $190 billion from the previous quarter to $12.44 trillion at the end of March. Auto loan balances rose slightly by $9 billion, continuing the…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 15-year fixed-rate mortgage is 6.625% as of April 26, which is 0.125 points higher than yesterday. Additionally, the interest rate on a 30-year fixed-rate mortgage is 7.625%, which is also 0.125 points higher than yesterday. With mortgage rates changing daily, it’s a good idea to check…
At first glance, those of us who have been steadily socking away funds and dreaming of retirement in our fifties or sixties don’t hold much in common with those who plan for a FIRE retirement. Unfamiliar with FIRE? The Financial Independence/Retire Early movement has gained traction in recent years as more flexible working arrangements and an awareness of the lifestyle via social media have increased. While there are varying definitions of FIRE, some key attributes unite most, if not all, individuals who believe in this philosophy. FIRE adherents spend consciously, allowing them to save more than average during their pre-FIRE…
Federal prosecutors will pursue tougher sentences in cases in which artificial intelligence is used to commit an election-related crime, including threatening violence against election workers and voter suppression, Deputy US Attorney General Lisa Monaco said Monday. The Justice Department policy change is an effort to keep pace with a chaotic information environment ahead of the 2024 presidential election, as AI tools have made it much easier to mimic politicians’ voices and likenesses to spread false information. The new policy applies to cases in which AI makes the election-related crime “more dangerous and more impactful,” Monaco said. “Our democratic process and the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.OpenAI has unveiled advances to its flagship artificial intelligence model, intensifying the competition with Google and other Big Tech groups pushing for breakthroughs in the technology. The San Francisco start-up demonstrated a series of improvements to its GPT-4 model at an event on Monday, including the ability to interpret voice, video, images and code in a single interface — though it stopped short of revealing a much-anticipated new model.The update, billed as GPT-4o, “provides GPT-4 level intelligence, but it’s much faster and…
Synopsis American Axle & Manufacturing (NYSE:AXL) specializes in the design and manufacture of drive line and metal forming technology for the automotive industry. Over the last three years, AXL has shown robust net sales growth. On the other hand, its profit margins have been showing signs of stress. In its latest 1Q24, it continues to report strong top line growth and profit margins have expanded year-over-year, bringing in some signs of relief. Looking ahead, LV production volume is anticipated to continue growing, and its new business wins in the quarter are expected to support its net sales. However, when compared…
