Magnificent Seven poised to lose nearly $1 trillion amid Wall Street meltdown
Recession fears and Berkshire Hathaway’s decision to reduce its holding in Apple have unravelled the sector’s months-long rally, with the Magnificent Seven’s shares on track to lose nearly $1 trillion in combined market capitalization. The iPhone maker’s shares also plummeted 6.5%, wiping out roughly $900 billion in market capitalization, following other big tech companies such […]
Senator negotiators advance more than $1 trillion in 2025 government funding
Senate negotiators voted Thursday to frontload more than $1 trillion in fiscal 2025 government funding, passing four spending bills with overwhelming bipartisan support. The powerful Senate Appropriations Committee on Thursday passed the bill, which provides funding for the departments of Defense, Energy, Labor, Health and Human Services (HHS) and Education, as well as financial services, […]
$2.1 Trillion ‘Hidden Tax’: Cost Of Federal Regulations Hit Record High In 2023, Report Says
Federal regulations will add a record $2.1 trillion in costs to the average American by 2023, according to a study released Tuesday by the Competitive Enterprise Institute (CEI). This huge figure takes into account the impact of federal regulations and compliance costs, amounting to a “hidden tax” of $15,788 per U.S. household, according to CEI’s […]
National Debt Reaches $35 Trillion For First Time In US History
The national debt surpassed $35 trillion for the first time in U.S. history on Monday as exorbitant federal spending continues under President Joe Biden. Since Biden took office, the national debt has Increased That’s an increase of more than $7 trillion to date, up from $27.7 trillion on January 20, 2021. Over $35 trillion As […]
Fox News AI Newsletter: Elon Musk: Tesla can be $20 trillion company
Welcome to the Fox News Artificial Intelligence newsletter, covering the latest advancements in AI technology. Today’s Newsletter: – Elon Musk thinks Tesla can become a $20 trillion company: Kyle Uhl – Google has changed, it’s a “new company”: Mark Mahaney – Family Ties star Justin Bateman says Hollywood’s use of new technology is “motivated by […]
Small Stocks Keeled Over after Brief Super-Hyped “Rotation” Spike. Magnificent 7 lost $1.3 trillion in Seven Days – WOLF STREET
$1.3 trillion came and went in less than a month and people didn’t even notice. Amazing. From WOLF STREET by Wolf Richter. The week was marked by a continued sell-off in tech stocks and a wilting of the much-touted “rotation” into smaller caps. The S&P 500 fell 2.0%, the Nasdaq Composite fell 3.6%, the Nasdaq […]
Dems’ $3.5 Trillion Spending Bill ‘Existential Threat’ to Economy
Estimated Reading Time: 3 minutes One of the nation’s leading economic and business groups is warning that the $3.5 trillion spending bill before Congress is an “existential threat” to the nation’s economy. The U.S. Chamber of Commerce has launched a six-figure television ad campaign targeting the proposed tax hikes in the measure that would be […]
4 Ways to Understand Democrats’ $3.5 Trillion Spending Bill
Estimated Reading Time: 3 minutes House Democrats have unveiled pieces of the $3.5 trillion spending bill over the past several weeks. Most legislation focuses on specific issues, which makes it possible to have constructive debate. However, this bill covers welfare, immigration, taxes, energy, families, and much more, making it extremely difficult to comprehend. Providing context […]
Democrats’ $3.5 Trillion Socialist Dream Is Tax-and-Spend Nightmare
Estimated Reading Time: 3 minutes House Speaker Nancy Pelosi plans a vote soon to push Sen. Bernie Sanders’ $3.5 trillion socialist dream budget one step closer to law The news gets worse from there. Every other detail about this onerous legislation merits scorn, revulsion, and rejection. The so-called Build Back Better budget resolution boasts a $3.5 trillion […]
BlackRock Posts Earnings Beat, Assets Jump 13% to Record $10.6 Trillion. Stock Rises. – Barron's
BlackRock Inc. said on Monday that its second-quarter profit rose 11% from a year earlier, beating analysts’ expectations. The firm currently manages a record $10.64 trillion in assets for its clients, up 13% from last year. The world’s largest asset manager reported quarterly adjusted net income of $1.55 billion, beating expectations of $1.47 billion. That […]