Author: Press Room
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market check: Stocks are trending lower Friday, a day after the S & P 500 and Nasdaq closed at a new record high. It caps off a positive week for the S & P 500, though most of the gains have been concentrated around a select group of stocks that are generating revenue from artificial intelligence. The divergence in returns this week was startling. The tech sector rallied more than 6%…
As sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York, and Nantucket, Massachusetts, some of the nation’s priciest coastal real estate is in an increasingly precarious position due to climate change.This year’s hurricane season is already underway, and the forecast is for “above-normal” activity, according to the National Oceanic and Atmospheric Administration (NOAA). It predicts up to 13 hurricanes, with four to seven categorized as “major” storms.Various risk models have shown myriad projections for falling real estate values, but the effects of climate…
A Texas bankruptcy court judge has approved the liquidation of conspiracy theorist Alex Jones’ personal assets, setting the stage for repayment to the families of Sandy Hook shooting victims. Last week, Jones agreed to convert his personal bankruptcy into a Chapter 7 liquidation. Judge Christopher Lopez on Friday agreed to that move. Jones’ decision to seek bankruptcy protection comes after he agreed to demands from the families of Sandy Hook victims, whom he owes more than $1 billion in damages he caused by lying about the 2012 school massacre. The seismic ruling paves the way for Jones to no longer own Infowars, the influential conspiracy…
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Watch full video on YouTube
The ClearBridge MLP and Midstream Fund Inc. (NYSE:CEM) is a closed-end fund, or CEF, that investors can use to gain exposure to energy infrastructure companies, including those structured as master limited partnerships, without the hassle of dealing with K-1 income tax forms. This is something that can be very advantageous to investors who wish to use their retirement accounts or similar tax-advantaged accounts to make their investments. This is because the ClearBridge MLP and Midstream Fund can be included in such an account just like any other corporation. Normally, including master limited partnerships in such an account exposes the investor…
Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseJoe Biden has pledged support from the US and its allies for Ukraine “until they prevail” in the war against Russia’s invasion and said Washington would send more air defence systems to Kyiv after signing a 10-year defence pact with Volodymyr Zelenskyy.The US president’s comments and the deal with his Ukrainian counterpart marked a show of unity between the leaders following tensions between Washington and Kyiv in recent weeks.Biden and Zelenskyy announced the deal on the sidelines of the…
The Supreme Court unanimously rejected a lawsuit on Thursday challenging the Food and Drug Administration’s approach to regulating the abortion pill mifepristone, allowing the drug to stay on the market. The court ruled that the doctors and anti-abortion groups that had challenged access to the drug did not have standing to sue. Though technical, the court’s reasoning is important because it might encourage other mifepristone challenges in the future. Medication abortion accounts for nearly two-thirds of all US abortions, according to some estimates. The FDA approved mifepristone in 2000 as part of a two-drug regimen to end a pregnancy, and it has been…
A new study published in the New York Times demonstrates some startling findings about loss of ability to make money decisions in older people. The study approaches the issue by looking at debt accumulation and reduced credit scores in elders long before being diagnosed with Alzheimer’s disease or related dementias. The team of economists and medical experts looked the combination of Medicare records and data from the credit bureau, Equifax. Their research was comprehensive, extensive and credible. They found that people fall behind in paying their normal debts like mortgages and credit card bills as much as five years before…
Mortgage rates are down for the second straight week, but still remain stubbornly high for many would-be buyers. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.95% this week from 6.99% last week. The average rate on a 30-year loan was 6.69% a year ago. The average rate on the 15-year fixed mortgage also decreased to 6.17% from 6.29% last week. One year ago, the rate on the 15-year fixed note averaged 6.10%. Read the full article here
