Stock Market Today, April 29: Mixed Reactions as Big Tech Earnings Beat Expectations
The S&P 500 (SNPINDEX:^GSPC) slipped 0.04% to 7,135.95, the Nasdaq Composite (NASDAQINDEX:^IXIC) inched up 0.04% to 24,673.24, and the Dow Jones Industrial Average (DJINDICES:^DJI) fell 0.57% to 48,861.81 as traders stayed cautious ahead of the Fed rate decision and megacap tech earnings after the bell.
Read MoreWarren Buffett’s Billions Won’t Buy Him a Bigger Social Security Check — Here’s Why
Here’s something that might surprise you: one of the richest people on the planet collects Social Security on basically the same terms as the guy who fixes your furnace.
Warren Buffett, whose net worth runs into the hundreds of billions, doesn’t get a fatter Social Security check because of his fortune.
Read MoreWhy Warren Buffett Gets Social Security Despite a $150 Bn Fortune
According to the Bloomberg Billionaires Index, Buffett has an estimated net worth of around $150 billion, placing him among a small group of ultra-high-net-worth individuals globally. However, his Social Security benefits are not linked to his wealth, but to his past taxable earnings. Payments are deposited monthly by the U.S. government under the standard retirement system.
» Read more about: Why Warren Buffett Gets Social Security Despite a $150 Bn Fortune »
Read MoreStock market today: What Google, Microsoft, Meta and Amazon earnings reports say. Explained
Big Tech’s latest earnings sent a clear message to Wall Street: artificial intelligence remains the defining battleground. Across Alphabet (Google), Amazon, Microsoft, Meta (Facebook) and Qualcomm, quarterly reports revealed focus on cloud growth, AI monetization, and capital expenditure discipline.
Key takeaways from Google,
Asian stocks advance on tech, dollar edges lower
Markets opened on an optimistic note after Trump said the US will begin guiding ships not involved in the Iran conflict through the Strait of Hormuz from Monday
MSCI’s Asian equities gauge rose 1% with South Korean shares — a poster child for artificial intelligence — jumping 2.8% to a record,
» Read more about: Asian stocks advance on tech, dollar edges lower »
Read MoreThe Burst
Ominous Signal Strikes for First Time in 90 Years
If one key indicator is to be trusted, the U.S. economy may be headed either for choppy waters or over a cliff, and the fallout for stocks may be enormous.
While there is no doubt that the forces of money supply creation and consequently inflation drive nominal prices higher over the long-term, the short-term is less easy to forecast with the same degree of accuracy.
» Read more about: Ominous Signal Strikes for First Time in 90 Years »
Read MoreThe Ivy
1 Extraordinary Stock Won Over Buffett and Cathie Wood
Stock market observers would be hard-pressed to find two major investors more different than Warren Buffett and Cathie Wood. Buffett’s careful, value-driven approach to investing has allowed his Berkshire Hathaway conglomerate to become the first $1 trillion company outside of the tech sector. Wood’s ARK funds, meanwhile, focus on extremely high-growth tech companies that often have yet to turn a profit.
» Read more about: 1 Extraordinary Stock Won Over Buffett and Cathie Wood »
Read MoreThe Spotlight
Is Buffett Going All in on His Favorite Stock?
In 2022, Warren Buffett has been all over the headlines. Whether it’s Apple, Occidental Petroleum, or Chevron, the Oracle of Omaha has added millions of shares to his portfolio, which is now worth over $300 billion.
This year’s bear market decline has allowed Buffett to buy shares at a significant discount,
» Read more about: Is Buffett Going All in on His Favorite Stock? »