Back-to-back interest rate cuts expected ahead of RBA meet
Mortgage holders could receive their first back-to-back interest rate cuts in more than five years, with the Reserve Bank widely expected to lower rates.
The central bank’s monetary policy board meeting, which begins on Monday, tops the week’s economic agenda, although Donald Trump’s tariffs could once again roil markets.
The US president paused his sweeping “liberation day” tariffs for 90 days to allow extra time for individual countries to negotiate a better deal.
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Read MoreWhat Does the New Social Security Tax Deduction Mean for Seniors Over 65?
President Donald Trump signed his tax cut and spending package, dubbed “one big, beautiful bill,” into law July 4.
The Senate passed the package July 1 with a 51-50 vote, leaving Vice President JD Vance to break the tie, per NBC News. On July 3, the House passed the package with a 218-214 vote before it was sent to Trump the next day.
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Read MoreSocial Security Email Says Policy Bill Eliminates Tax on Benefits. Does It?
In a celebratory email sent to Americans across the country, the Social Security Administration praised the Trump administration’s sprawling budget and tax bill and said it eliminated federal income taxes on most retirees’ benefits.
But that’s not exactly what it does.
Many retirees quickly took notice,
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Read MoreDalal Street week ahead: India-US trade deal, Q1 results among 5 key triggers for Indian stock market in coming week
Indian stock market ended in the negative territory for the week ended July 4, largely due to profit booking amid lingering uncertainty over the India-US trade deal, caution ahead of the start of the earnings season and foreign capital outflow.
The Nifty 50 and the Sensex closed 0.70 per cent lower each for the week,
Nearly 60% of retirement policy buyers are under 40: Policybazaar
Young Indians are starting to plan for retirement much earlier than before, according to a new report by Policybazaar. The data shows nearly 60% of retirement policy buyers are under the age of 40.
The report highlights a shift from the old pattern of starting retirement planning closer to age 50.
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Read MoreThe Burst
Market Commenary: Did Apple Silently Launch a Brain Machine Interface?
Ten years ago if you told someone that a brain-machine interface would connect humans to machines you would have been at risk of earning a tin foil hat and being labeled a conspiracy theorist.
Read MoreThe Ivy
1 Tool That Forecasts Recession Has Perfect Record
Oh gee, not only do bulls have to worry about how the CAPE index has risen above 30, historically a signal of an impending market correction. And not only do they have to be skittish about Nvidia hitting a $2 trillion market capitalization, leaving Meta and other Magnificent 7 stocks in the dust on valuation,
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