Associated Press
June 29, 2025 / 08:22 IST
Famed investor Warren Buffett is donating USD 6 billion worth of his company’s stock to five foundations,
» Read more about: Warren Buffett announces USD 6 billion in donations to five foundations »
By KEN SWEET
NEW YORK (AP) — All the major banks passed the Federal Reserve’s annual “stress tests” of the financial system, the central bank said Friday, but the test conducted by the central bank was notably less vigorous than it had been in previous years.
All 22 banks tested this year would have remained solvent and above the minimum thresholds to continue to operate,
» Read more about: Nvidia notches 5-day win streak as it hits record highs »
Technology companies must constantly evolve to stay relevant. And Nvidia (NVDA 1.74%) is no stranger to this phenomenon. Founded in 1993, the legendary chipmaker first made its name in video game graphics, eventually getting a notable boost from cryptocurrency mining before its big break with the arrival of generative AI in late 2022.
» Read more about: Where Will Nvidia Stock Be in 10 Years? »
Despite strong gains for the broader market, CoreWeave (CRWV 1.22%) stock closed out this week’s trading down by double digits. The artificial intelligence (AI) specialist’s share price fell 12.8% over the stretch. Meanwhile, the S&P 500 index rose 3.4%.
CoreWeave stock lost ground this week following fresh analyst coverage and news that Nvidia (NVDA 1.74%) is making a bigger push in the cloud computing space.
» Read more about: Why CoreWeave Stock Plummeted This Week »
Communication Services led sector gains as Meta and Alphabet surged, while Technology followed closely with Nvidia and Microsoft hitting new all-time highs, reflecting continued enthusiasm for AI momentum. Nike jumped 15.2% after beating earnings expectations, signaling operational improvement under CEO Elliott Hill despite projected $1 billion in tariff-related costs.
» Read more about: S&P500 and Nasdaq: Tech Stocks Lift US Indices Despite Hot PCE Inflation Data »
» Read more about: Global flows into gold funds is at its highest since the pandemic »
During last year’s presidential campaign, Trump made many promises to get the votes he needed to be re-elected. One such promise was that he would eliminate federal taxes on Social Security benefits.
Even after being re-elected, Trump repeatedly vowed in his 2025 State of the Union address: “I’m calling for no tax on tips,
Layoffs are a hard fact of life, especially in 2025. During the first five months of the year, there was an 80% increase in job cuts compared to the same period last year.
If you get laid off, it’s important to begin thinking strategically from day one to make sure you get to the other side of this challenging time with minimal long-term financial damage.
» Read more about: How to Safeguard Your Investments After Losing Your Job »
FOX 35 Meteorologist T.J. Springer has the latest conditions in the tropics. The 2025 Atlantic Hurricane Season runs July 1 – November 30. Download the FOX Local app for tropical alerts and notifications.
ORLANDO,