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PDD Holdings (NASDAQ:PDD), also known as Pinduoduo, is a leading e-Commerce platform in China and one of the top three Chinese e-Commerce companies, next to Alibaba (BABA) and JD.com (JD), that dominate the market. PDD Holdings offers a variety of e-Commerce and related services such as fulfillment and logistics and Pinduoduo owns the hugely popular, deal-focused e-Commerce platform Temu. PDD Holdings is seeing strong tailwinds for its gross profits and net income and generating a ton of free cash flow. While not as cheap as either Alibaba or JD.com, PDD Holdings is well-positioned to deliver sustainable growth for shareholders and…
Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseDonald Trump appeared at his first campaign rally on Saturday since surviving an assassination attempt, joined on stage by his newly selected running mate JD Vance. Exactly one week after a shooter’s bullet narrowly missed Trump’s head at a rally in Butler, Pennsylvania, the former president looked relaxed as he rallied thousands of supporters on Saturday night in Grand Rapids, Michigan.“I shouldn’t be here. I shouldn’t be here,” Trump said on Saturday, arguing God had saved his life. “But…
Former President Bill Clinton and former Secretary of State Hillary Clinton have been privately encouraging donors in recent weeks to continue financially supporting President Joe Biden’s campaign, according to two sources familiar, in the aftermath of Biden’s disastrous debate performance that has sent the Democratic Party spiraling into chaos. One of the sources said the Clintons are choosing to be “deferential to Biden’s decision.” However, the second source, who is familiar with the Clintons’ thinking and has spoken with the couple in recent days, insisted that it is more accurate to say they are “deferential to the process.” According to…
Today, July 19, 2024, the IRS and Treasury Department released long-awaited final regulations on Required Minimum Distributions. RMDs are mandated yearly withdrawals from IRAs, 401(k)s and other tax deferred retirement plans. The final regulations clarify changes brought about by the SECURE Act, which took effect in 2020, and the SECURE 2.0 Act, which was signed into law at the end of 2022. The new rules start taking effect on January 1, 2025. Summary of Comments To get a quick overview, I suggest focusing on the 14-page “Summary of Comments and Explanation of Revisions.” 10-Year Rule One of the issues clarified…
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. The interest rate on a 30-year fixed-rate mortgage is 6.875% as of June 24, which is unchanged from Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.000%, which is also unchanged from Friday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…
A federal appeals court on Thursday issued a ruling that blocks the Biden administration from continuing to implement a new version of its student loan debt handout plan that is designed to reduce monthly payments for borrowers. The U.S. Eighth Circuit Court of Appeals granted a request by seven Republican states to block portions of the Education Department’s plan that a lower court judge hadn’t previously blocked.Last month, a U.S. District Court in St. Louis blocked the agency from moving forward with granting additional student loan forgiveness under the Biden administration’s Saving on a Valuable Education (SAVE) plan – though…
The money flow into small caps may not be a rotation from winning growth trades.Dave Nadig, ETF journalist and financial futurist, sees investors “just buying, buying, buying.””What we’re seeing is a diversification trade,” he told CNBC’s “ETF Edge” this week. “We’re seeing flows into everything, and that to me means people are looking to get a little bit broader in their exposure which is smart in an election year.”Nadig contends broadening exposure in portfolios helps absorb volatility in the months leading up to presidential elections.”[Investors] are now, for the first time in ages, buying value, buying some of these defensive…
Vice President Kamala Harris has gained more public support from Democratic lawmakers as a potential replacement for President Joe Biden, should he decide to drop out of the race against former President Donald Trump.California Rep. Mark Takano on Saturday became the thirty-sixth Democrat on Capitol Hill to call on Biden to exit the race on the record. He added that he believes Harris should be the one to helm the ticket.”President Biden’s greatest accomplishment remains saving democracy in 2020. He can and must do so again in 2024 — by passing the torch to Vice President Harris as the Democratic…
Taking your romantic relationship to the next level — sharing a home — is a big deal in so many ways. If you opt to live together instead of marrying, you may think you’re saving money (e.g., no wedding!) and keeping your financial and legal independence from each other. In some ways you may be. But there are a lot of financial and legal considerations that you both should hash out before calling the movers. That is especially the case for couples over 50 — for whom living together may seem the easier option if they have already had long-term…
