Author: News Room

With tax season here and taxes due April 18th, what is the best plan of attack for last-minute tax filers? I reached out to Best Selling Author, Rich Dad Advisor® & International Authority on Tax Tom Wheelwright,CPA to share his best advice for last-minute tax filing. 1. Don’t rush. Yes, the April 18 deadline is approaching fast, and for those who have waited until the last minute, it can be a stressful time. Resist the urge to rush through the process. A hurried approach often leads to costly errors. Instead, follow the steps below carefully. If you feel yourself getting…

Key Takeaways Inflation Continues To Slow Bank Earnings Coming Friday Fed Members Disagree On Next Move It’s been a very quiet six days for stocks but that could all begin changing today as economic data comes into to focus and then earnings season will kick off Friday. Data on inflation shows consumers continue to pay more for goods, but the rate at which they are paying more has cooled. Tomorrow we’ll get March’s Producer Price Index (PPI) and a look at production costs. Investors will have little time to digest the economic news before attention shifts to the state of…

Markets expect the Federal Reserve to hike rates 0.25-percentage-points at their upcoming May 3 interest rate decision. There’s a 7 in 10 chance of a hike according to fixed income futures, with a 3 in 10 chance of holding rates steady. That’s because with March’s economic data, as reported in April, inflation continues to run hot, compared to the Fed’s target, and recent unemployment numbers don’t imply a recession, despite some potential softness. That said, inflation is moving closer to the Fed’s goal, just at a slower pace than the Fed wants to see. Hawkish Fed Minutes The Fed have…

By Herbert Lash NEW YORK (Reuters) – Treasury yields fell and a gauge of global stocks eased on Wednesday after the market was rattled by minutes from the Federal Reserve’s last policy meeting that indicated banking sector stress could tip the economy into a recession. Fed staff assessing the potential fallout of banking stress projected a “mild recession” later this year. But the minutes showed policymakers ultimately agreed to higher interest rates as data at the time showed few signs of inflation pressures abating. “We’ve had some calm with banking turmoil, and there’s just this feeling that it could pick…

© Reuters. FTX logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration By Dietrich Knauth (Reuters) -Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company’s attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware. FTX attorney Andy Dietderich said the company is starting to think about its future after months of effort devoted to collecting resources and figuring out what went wrong under the leadership of indicted ex-founder Sam Bankman-Fried. Bankman-Fried has pleaded not guilty. “The situation…

Federal Reserve officials, meeting days after the collapse of Silicon Valley Bank, agreed that the stress in the banking sector would slow U.S. economic growth, but were uncertain about how much, according to minutes of the meeting released Wednesday. The twelve voting members on the Fed’s interest-rate committee “agree that recent developments were likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation, but that the extend of these effects were… Read the full article here

The U.S. economy is still dealing with high inflation, but the housing sector is showing signs of cooling off. The Consumer Price Index rose 0.1% in March from the previous month, according to the latest report from the federal government. It was the smallest uptick in 3 months, and was lower than usual due to an easing in energy costs.  The… Read the full article here

Consumer-goods giant Procter & Gamble Co. PG on Tuesday said its board had declared an increase in its quarterly dividend of $0.9407 per share — or 3% — on its common stock and on preferred stock in the company. The increased dividend is payable starting May 15 to shareholders as of April 21. Shares were unchanged after hours, after finishing 0.2% lower during regular trading. … Read the full article here

U.S. stocks opened higher Wednesday as investors digest fresh data showing headline inflation eased in March. The Dow Jones Industrial Average DJIA was up 0.4% soon after the bell, while the S&P 500 SPX gained 0.5% and the technology-heavy Nasdaq Composite COMP rose 0.7%, according to FactSet data, at last check. Inflation, as measured by the consumer-price index, rose 0.1% in March for a year-over-year rate of 5%, according to a report from the Bureau of Labor Statistics on Wednesday. That’s down from 6% in the 12 months through February. Core CPI, which excludes energy and food prices, increased 0.4%…

Former President Donald Trump is suing Michael Cohen for $500 million in damages for allegedly breaching his contract as Trump’s former personal attorney. The lawsuit, filed in a Florida federal court on Wednesday, accuses Cohen of spreading false information about Trump and breaching his contractual obligations to the former president in Cohen’s public statements, published books, podcast series and other media appearances. Cohen, Trump’s onetime “fixer,” has recently reentered the national spotlight after Trump pleaded not guilty last week to 34 charges of falsifying business records following an investigation into hush money payments made to adult film star Stormy Daniels.…