Author: Press Room
Shares of Berkshire Hathaway Inc. Cl B BRK.B, -0.31% shed 0.47% to $323.09 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -0.52% falling 0.01% to 4,154.52 and Dow Jones Industrial Average DJIA, -0.32% falling 0.23% to 33,897.01. The stock’s fall snapped a nine-day winning streak. Berkshire Hathaway Inc. Cl B closed $27.77 short of its 52-week high ($350.86), which the company reached on April 21st. The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Honeywell International Inc. HON, -0.47% rose 0.45%…
By Sabela Ojea International stocks trading in New York closed mostly lower on Monday. The S&P/BNY Mellon index of American depositary receipts fell 0.06% to 154.33. The European index dropped 0.6% to 152.42, the Asian index climbed 1% to 172.69, the Latin American index declined 0.4% to 195.00, and the emerging markets index increased 0.7% to 289.74 XPeng Inc.’s new platform is expected to reduce its operating costs in the midst of an intensifying price war triggered by rival Tesla Inc. Shares of the electric-vehicle maker closed up 15% at $11.43. Write to Sabela Ojea at [email protected]; @sabelaojeaguix Read the…
Some clarity is emerging regarding statements from Biden administration officials that no one making less than $400,000 will see higher audit rates by the Internal Revenue Service, which is about to step up its scrutiny of wealthy taxpayers. The Inflation Reduction Act — the tax and climate package enacted last summer — earmarked $80 billion for the IRS over the next decade and a half. The money is intended in part to facilitate more audits of corporations and wealthier individuals. Ahead of the bill’s passage, Treasury Secretary Janet Yellen pledged that there would be no increase in the audit rate…
Lending in the U.S. declined after the failure of Silicon Valley Bank and businesses hired fewer people in the early spring, a Federal Reserve survey found, but inflation also “appeared to be slowing.” The Fed’s regular survey of the economy, known as the Beige Book, signaled the recent turmoil in the banking system had little immediate effect. U.S. growth more broadly was “little changed” in the six weeks leading up to April 10. Yet the failure of California-based SVB put more stress on the U.S financial system, with potential long-range repercussions. The Fed said both lending by banks and demand…
© Reuters. FILE PHOTO: Southwest Airlines planes sit idle on the tarmac after Southwest Airlines flights resumed following the lifting of a brief nationwide stoppage caused by an internal technical issue, according to the U.S. Federal Aviation Authority (FAA), at Ch By Allison Lampert and Rajesh Kumar Singh (Reuters) -A technology failure that temporarily halted all departures of Southwest Airlines (NYSE:) Co flights on Tuesday is raising fresh concerns about the resiliency of the U.S. carrier’s IT infrastructure, industry experts and the carrier’s pilots’ union said on Wednesday. The Dallas-based carrier has blamed the hour-long outage on a vendor-supplied network…
By Barani Krishnan Investing.com — The is making a comeback, much to the chagrin of oil bulls. Crude benchmarks West Texas Intermediate and Brent both fell about 2% on Monday, their most in a month, as the U.S. currency extended its rebound from last week’s one-year lows on expectations that the Federal Reserve will agree on another at its May 3 rate decision. New York-traded settled down $1.69, or 2.1%, at $80.83 a barrel, after a session low at $80.47. Its sharpest fall prior to this was exactly a month ago on March 17, when it fell 2.4%. On a…
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury brought in $129.82 billion in total tax receipts on Tuesday, the annual tax filing deadline, compared with $75.53 billion a day earlier, the department’s daily financial statement showed on Wednesday. The collections brought total deposits into the Treasury General Account at the Federal Reserve to $283.53 billion on Tuesday, with a closing balance of $252.55 billion after withdrawals. Financial analysts have been watching the Treasury’s 2022 tax filing season receipts closely to determine the strength of revenues and when the federal government will exhaust its ability to pay all of its…
Worried about a recession? Two thoughts: I don’t blame you. Consider this recession-resistant REIT (real estate investment trust), poised to rally on an economic slump. Why rally? Well, interest rates and REITs tend to seesaw. When rates rise, REITs fall. At least that’s the conventional wisdom. In recessions, interest rates fall. Normally bullish for REITs—consider them a “second-level” bet on a bond bounce. REITs, after all, are the bond proxies of the stock world. Investors buy them for their yields. That’s why we like them here at Contrarian Outlook. It’s part of the REIT special sauce. As long as they…
In this article I cover the stock screening strategy influenced by the late Richard Driehaus and give you a list of stocks that currently pass the screen based on the approach. AAII has developed two screens based on Driehaus’ strategy; please note that the following performance and passing companies list is for the original screen, not the revised screen. The Driehaus strategy involves identifying and buying stocks in a strong upward price move and staying with them if their upward price movement continues. Beginning in April, the market started picking up momentum and many stocks began advancing in price. Driehaus’…
Millions of Americans move abroad each year. If you’re considering being one of them, be sure to avoid the most-frequent financial mistakes of emigrating Americans. Though the politics of moving abroad attract a lot of headlines, only a small number of the four million or so U.S. citizens living abroad left for political reasons. Most often, people leave the U.S. to retire, take a job, attend school, or have an adventure. The Social Security Administration says it send benefits to more than half a million U.S. retirees living overseas. But the number of expatriates retirees probably is higher, because it…
