Author: Press Room
On March 9, 2023, President Biden published his 2024 budget proposals. Subsequently, the Treasury has published their new “Green Book, “General Explanations of the Administration’s Fiscal Year 2024 Revenue Proposals,” that not only tries to explain the administration’s proposed tax changes in the proposed budget (including new estate planning-related changes) but adds several proposals contained in the 2023 Green Book, albeit with some modifications. Here is a quick outline of the proposals in the 2024 Green Book: Increase the top marginal income tax rate to 39.6% for: Individual taxpayers with taxable income over $450,000; Married individuals filing a joint return…
New York City’s real estate market reacted strongly to the economic uncertainty of 2023’s first quarter. Many buyers throughout our market put their plans on hold in the wake of the 50 basis point increase in the Fed rate during the month of December (which followed several 75 basis point increases). Mortgage rates continued to rise, the stock market fell, and transaction volume, which had been slipping throughout the second half of 2022, remained weak in January. Surprisingly, it then began to strengthen in February, and improved even more in March. That said, the deals which got made correlated strongly…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases have remained unchanged for three key terms while one key term fell since last Friday. Rates last updated on April 3, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace,…
I believe Citigroup’s (NYSE:C) stock could reach a triple-digit valuation by the end of 2024. I am not factoring in heroic or unrealistic assumptions and am fully cognizant of what has been holding the stock back in the last few years. I have also been tracking Citigroup’s strategic transformation quite closely. In my recent article on Citigroup, I specifically addressed event-driven implications from the collapse of Credit Suisse. In this article, however, I am strictly focusing on its valuation. This should enable readers to assess its progress in the upcoming earnings release. Let us start by considering what has held…
US fund managers are increasing investments in international stock markets after rising interest rates and fears of an economic slowdown brought an end to more than a decade of domestic dominance.US stocks have vastly outperformed most other developed and emerging markets since the financial crisis, but the trend began to reverse last year.The Europe-wide Stoxx 600 index has now posted stronger returns than Wall Street’s S&P 500 for four consecutive quarters, its longest period of outperformance since 2008. European stocks did decline in the middle of last year, but losses were milder than in the US, and asset managers that…
Three artworks created by the president’s son, Hunter Biden, were put on display at a Manhattan art gallery on Thursday – priced at $85,000 each. The pieces were part of a group exhibition called “Bridging the Abstract,” a show at Georges Bergès Gallery in SoHo featuring major abstract expressionists such as Elaine de Kooning and Helen Frankenthaler. The exhibition is the latest in a series of art shows featuring Hunter Biden to have taken place since President Joe Biden came into office in 2021. Pieces priced up to $500,000 have raised eyebrows, and questions have emerged about the ethical considerations…
Investors can’t wait for the Federal Reserve to start pivoting. This past week’s action—illuminated by a pink full moon—shows that they might have to wait a bit longer. The S&P 500 index slid 0.1% in the shortened trading week, while the Dow Jones Industrial Average advanced 0.6% and the Nasdaq Composite fell 1.1%. But while equity markets were little changed, bond yields declined in the early part of the week as weakening economic data stoked fears of a recession among fixed-income traders. The stock market is known to be a forward-looking mechanism, but with the S&P 500 trading at 18…
“ ‘2023 is the year of the Easter potato.’” The soaring price of eggs has left many consumers scrambling over the past year. And it may become a bigger source of frustration for those planning on celebrating Easter with all sorts of egg-related rituals connected to the holiday, such as egg dyeing and Easter egg hunts. But one food-industry group is touting an alternative idea: Swapping in potatoes for those eggs. “2023 is the year of the Easter potato,” said Potatoes USA, a marketing group that represents about 2,000 spud growers, in a press release. While the price of eggs…
April is National Financial Literacy Month. To mark the occasion, MarketWatch will publish a series of “Financial Fitness” articles to help readers improve their fiscal health, and offer advice on how to save, invest and spend their money wisely. Read more here.Let’s pick a round number. How much money do you need to make to afford a $1 million home? And what about a $500,000 home? Both of those figures are obviously higher than the $363,000 median price for a home in the U.S., but an analysis by MarketWatch based on Realtor.com data helps demystify those big, bold house prices. Mortgage…
The contest to become the Republican Party’s 2024 presidential nominee is heating up, with Nikki Haley, a former U.S. ambassador to the United Nation, and longshot candidate Vivek Ramaswamy each announcing runs since the beginning of the year, and former Arkansas Gov. Asa Hutchinson joining the fray in a Sunday-show appearance on April 2. Another notable move has been the rollout of a campaign-style book by Florida Gov. Ron DeSantis, in which he argues that his approach to managing his state can provide a model for the rest of the country. And former President Donald Trump appears to be getting…
