The US House of Representatives approved a $78 billion tax cut package in January, but the measure is now facing potential roadblocks in the Senate due to opposition from Republican lawmakers. The legislation addresses several key tax-related issues, including business tax credits and the child tax credit. Yahoo Finance's Senior Columnist Rick Newman breaks down the details, providing insights into why Republicans are positioning themselves against the bill and how the Biden administration could in-turn react. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. Editor's note: This article was written by Angel Smith
The US House of Representatives approved a $78 billion tax cut package in January, but the measure is now facing potential roadblocks in the Senate due to opposition from Republican lawmakers. The legislation addresses several key tax-related issues, including business tax credits and the child tax credit.
Yahoo Finance's Senior Columnist Rick Newman breaks down the details, providing insights into why Republicans are positioning themselves against the bill and how the Biden administration could in-turn react.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
Editor's note: This article was written by Angel Smith
The Wall Street Journal
June futures on the New York Mercantile Exchange closed up 0.3% at $2,331.70 a troy ounce, a record-high close having hit a new all-time intraday high of $2,372.5 earlier in the session. A stronger-than-expected jobs report Friday has investors re-evaluating the potential for the Federal Reserve to cut interest rates this year, with JPMorgan Chase Chief Executive Jamie Dimon warning that U.S. interest rates could actually soar to 8% or more in coming years. Gold continues to climb, decoupling from its traditionally tight relationship with U.S. Treasurys, broker SP Angel said in a note.
Reuters
(Reuters) -JPMorgan Chase's board said an orderly CEO transition was a top priority for the largest U.S. bank in the medium term, more than 18 years after Jamie Dimon took the helm. The board is "spending significant time on developing operating committee members who are well-known to shareholders as strong potential CEO candidates," it said in a proxy statement. They include Jennifer Piepszak and Troy Rohrbaugh, recently appointed co-CEOs of JPMorgan's expanded commercial and investment bank, Marianne Lake, CEO of consumer and community banking, and Mary Erdoes, CEO of asset and wealth management.
Yahoo Personal Finance
The cost of selling a house typically comes out of the proceeds of your sale. Learn how the costs break down and how much you could end up paying.
Yahoo Finance
In a flip of the usual priorities, Senate Republicans seem likely to kill a set of tax cuts that have already passed the House and are broadly popular. Here's why.
Reuters
Futures traders have reduced bets on how much the Federal Reserve will cut rates this year to the lowest level since October, LSEG data showed on Monday, amid evidence of continued strength in the U.S. economy. Fed funds futures contracts for December on Monday reflected expectations of around 60 basis points in rate cuts this year, compared to some 150 basis points that had been priced at the start of 2024. The prospect of a first 25 basis point cut in June stood at 49%, down from 57% a week ago, CME Group data showed on Monday.
Bloomberg
(Bloomberg) -- Donald Trump’s social-media company just became the most valuable publicly traded client of an accounting firm that has more experience auditing companies traded over-the-counter and has had a string of regulatory issues, including a 100% deficiency rate on audits reviewed by a US watchdog.Most Read from BloombergTrumpism Is Emptying ChurchesWhy India’s South Rejects Modi — And Why It MattersRBC Fires CFO Ahn After Probe Into Personal RelationshipGermany to Order Ships, Armored Ve
TipRanks
Even taking some recent dips into account, the S&P 500 remains near its record-high level – so why is one prominent market watcher sounding the alarm? In a recent note, B. Riley’s chief investment strategist Paul Dietrich lays out the warning case for investors, drawing attention to several signs that indicate a cloudy future. Several of these are technical factors, while others are more anecdotal in nature. Among the latter, Dietrich cites recent large-scale stock sales from the likes of Jeff B
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