Author: Press Room

We’re selling 50 shares of TJX Companies at roughly $115. Following Friday’s trade, Jim Cramer’s Charitable Trust will own 750 shares of TJX, decreasing its weighting in the portfolio to 2.55% from 2.7%. The market was putting the finishing touches on another strong week, with Friday’s broad-based rally bringing the gains in the S & P 500 since the start of July to about 3.5%. Given the strong run of the past two weeks, it’s prudent to lock in some gains and raise a little extra cash. We want to be ready to buy if we see more rotational action…

Stop & Shop is closing 32 underperforming grocery stores across the US northeast as part of the company’s efforts to improve its financial performance. Shoppers are also being squeezed by higher prices at the grocery store, with food prices experiencing modest upticks last month, according to the newest inflation report. “Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” said the chain’s president Gordon Reid in a release. Ahold Delhaize, the chain’s Dutch parent company, revealed the locations Friday adding…

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In our last coverage of Diversified Royalty Corp. (TSX:DIV:CA), we told you why we were shying away from the common shares and preferred to perch up in the capital structure. So we see the debt as very low risk here and would happily add to it in a market swoon. The common shares do offer a high yield, but we don’t see it as that attractive considering you can get about 6.6% from businesses like A&W Revenue Royalties Income Fund (AW.UN:CA) and Pizza Pizza Royalty Corp. (PZA:CA), both of which use about 1X debt to EBITDA. Source: Another Dividend Hike…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseJoe Biden’s closest western allies will depart Washington unsure of the US’s commitment to Nato beyond January, after an alliance summit overshadowed by questions about whether the American president can continue his fight for re-election against Donald Trump.The White House had hoped the 75th anniversary gathering would be a show of alliance unity and resolve against Russia. But the US domestic political turmoil and renewed equivocations from Trump about Washington’s commitments to the alliance’s common security principles contributed to…

A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here. While a slow drip of Democrats is calling for President Joe Biden to step aside in the 2024 race, an untold number seems to be hoping he will take a look at the polling that suggests he stands a good chance of losing the general election and read the room. An interview Thursday with Rep. Gerry Connolly, the longtime Virginia Democrat, was telling. Connolly clearly had no interest in calling on Biden to step down and expressed concern about…

The Republican party platform, orchestrated by former President Trump, is filled with promises for those it calls “our Great Seniors.” But there is little or no real policy behind most of those campaign pledges. And the document is filled with many irreconcilable contradictions. The platform will be the GOP’s election-year policy framework coming out of its upcoming July 15-18 nominating convention. And it recognizes some critical needs of seniors and sets goals that would improve their quality of life and that of their families. But it rarely describes how Trump and the GOP would achieve those goals. Social Security The…

Prospective homebuyers didn’t get much relief on mortgage rates this week, as the average 30-year fixed-rate mortgages barely budged from 6.87 to 6.86%, Freddie Mac reported. Last year, interest rates weren’t wildly different and averaged 6.71% for 30-year mortgages and 6.06% for 15-year mortgages.”The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” Sam Khater, Freddie Mac’s Chief Economist said. “By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market,” said Khater. Interest rates for…

We finally got the consumer price index we were looking for, with both the June headline and core readings coming in slightly lower than expectations. The CPI bolstered the case for the Federal Reserve to start cutting interest rates. It also gave investors the green light to rotate out of this year’s tech winners and into rate-sensitive stocks. Headline CPI dipped 0.1% from May, the first monthly decline since May 2020. On a year-over-year basis, it rose 3%, which was the lowest level in more than three years. The core rate, which excludes food and energy prices and tends to…