US stocks slump as Tesla shares tank on Trump-Musk row
WASHINGTON – Wall Street stocks tumbled on June 5 as a row between US President Donald Trump and Tesla boss Elon Musk erupted – with the electric vehicle firm’s share price tumbling around 14 per cent.
The Dow Jones Industrial Average slumped 0.3 per cent to 42,319.74 and the broad-based S&P 500 Index lost 0.5 per cent to 5,939.30.
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Read MoreMortgage rates ease for the first time in a month
Mortgage rates fell slightly this week for the first time in a month as the Treasury yields that underpin them also fell.
The average 30-year mortgage rate was 6.85% this week through Wednesday, from 6.89% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was 5.99%,
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Read MoreFed’s Kugler looks to hold rates steady as she warns of higher inflation from Trump's tariffs
Federal Reserve governor Adriana Kugler warned Thursday she sees the risk of higher inflation from tariffs and supports keeping interest rates steady for now.
“I see greater upside risks to inflation at this juncture and potential downside risks to employment and output growth down the road, and this leads me to continue to support maintaining the FOMC’s policy rate at its current setting if upside risks to inflation remain,”
Read MoreLululemon stock plunges 20% as company's second quarter outlook misses Wall Street estimates
Lululemon stock (LULU) fell as much as 20% in after hours trade on Thursday after the company warned profits would take a hit amid what it called a “dynamic macro-environment.”
It now expects second quarter adjusted earnings per share to fall in a range of $2.85-$2.90, far lower than Wall Street’s estimates for EPS of $3.31.
Read MoreSenate confirms Bowman as Fed supervision czar
The Senate confirmed Federal Reserve Gov. Michelle Bowman, by a 48-46 vote Wednesday, to serve as the central bank’s vice chair for supervision.
Bowman’s bid received no support from Democrats – a change from 2018,
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Read MoreThe Burst
Will Amazon Stock Make You a Millionaire In 10 Years?
Amazon isn’t just a retailer. It’s an ecosystem and it’s hard to find another company with the same mix of scale, efficiency, and stickiness across multiple trillion-dollar industries.
Start with e-commerce. Amazon’s scale gives it a cost advantage that smaller rivals simply can’t touch. After pouring tens of billions into logistics, robotics, and AI-driven warehouse optimization,
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Read MoreThe Ivy
Will This ETF 2x Before Year End?
In recent months, some of the most sophisticated investors on Wall Street have made a bold move by pouring hundreds of millions into BlackRock’s iShares Bitcoin Trust (IBIT).
This isn’t just a passing trade but a conviction bet that Bitcoin’s best days may still be ahead and while still trading under $100,000 per coin,
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Read MoreThe Spotlight
This ETF Owns 3,500 Stocks, Is It Better Than the S&P 500?
Vanguard’s Extended Market ETF (VXF) is a broad fund made up of thousands of stocks across essentially every part of the American business landscape. Like many ETFs, VXF attempts to give investors access to a broad selection of stocks without the difficulty and risk involved in picking individual companies.
Today, let’s take a deeper look at VXF to see if the fund is a good investment at the moment.
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