The bronze Charging Bull in the financial district of New York City. Robert Nickelsberg | Getty Images Precisely one year ago, a new bull market was born. Powered by unprecedented stimulus, stocks crawled out of their deep pandemic rout and started sprinting. History indicates that after big bear market declines, strong bull markets usually follow
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Traders work on the floor of the New York Stock Exchange. NYSE It’s the anniversary of the big drop: What’s changed? Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen are testifying before the House Financial Services Committee on the state of the economic recovery from the COVID-19 pandemic on Tuesday. It’s the one-year anniversary
Economic stimulus checks are prepared for printing at the Philadelphia Financial Center May in Philadelphia, Pennsylvania. Jeff Fusco | Getty Images A second batch of $1,400 stimulus checks is scheduled to land in people’s bank accounts on Wednesday, March 24. Those checks began processing on Friday and may be available in some accounts even earlier,
Is there a Manhattan enclave more synonymous with timeless style and grace than the Upper East Side? Long a bastion of class, distinction and old money, the enclave sets its own tone, forgoing passing fads. Now, the neighborhood is returning to its roots by investing a select few all-new buildings with the time-honored architecture, bespoke
By Richard Eisenberg, Next Avenue Editor Add this to the list of the many ways Covid-19 is changing our lives: it’s increasing job prospects in certain fields and lowering them for others. What’s more, the pandemic has dramatically heightened prospects for job losses due to automation. The upshot: if you’re over 50 and looking for
A British electric vehicle company is putting down roots in the U.S. and plans to take its new production concept global as demand for new mobility systems grows. Arrival, which is developing electric vans and buses, announced last week that it is building a second microfactory in Charlotte, North Carolina. The company plans to assemble
In this article .IXIC US10Y When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we see a tech sell-off, it’s an opportunity to buy some
Billionaire Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, is impressed by one key skill: failing “well.” “The people I respect most are those who fail well,” Dalio tweeted on Friday. “I respect them even more than those who succeed.” By failing “well,” Dalio said, one learns from their mistake and changes
An H&R Block office in San Francisco, Calif. David Paul Morris/Bloomberg via Getty Images TurboTax and H&R Block updated their online software to account for a new tax break on unemployment benefits received last year, according to company officials. However, state tax returns may still be a source of trouble for some taxpayers filing electronically.
The recently passed American Rescue Act brings some sorely needed relief to American families, especially for lower and middle-income households. One of the most valuable pieces of the legislation for these families is the new child tax credit. According to the Institute on Taxation and Economic Policy, about 80 million children live in households that
Knotel, the flexible office startup that filed for bankruptcy protection earlier this year, has found a new leader: Michael Gross, the former vice chairman of another SoftBank-backed firm, WeWork. He replaces Amol Sarva, Knotel’s cofounder, who served as CEO since 2015 and has been an outspoken WeWork critic. Gross’ brother, Eric, will also become Knotel’s
By Sarah McKinney Gibson, Next Avenue “I’m usually hesitant to ask for help,” says Mark Fiorito, a 32-year-old Lynbrook, N.Y. jobseeker on the autism spectrum. “But what I was doing wasn’t working, so I was up for trying something new.” That meant creating a profile on the autism-friendly jobs portal Hire Autism, run by the
Phil Murphy, New Jersey’s governor, speaks at a news conference after touring the New Jersey Convention and Exposition Center Covid-19 vaccination site in Edison, New Jersey, on Friday, Jan. 15, 2021. Mark Kauzlarich | Bloomberg | Getty Images New Jersey will likely pause its reopening plans as Covid-19 cases begin to rise again in the
LaylaBird The U.S. Labor Department launched a website Monday to help Americans report identity fraud linked to unemployment benefits. Unemployment fraud has surged during the Covid pandemic. Much of it is linked to organized crime rings that bought identity information stolen in past data breaches, according to the labor bureau. Criminals use this data to
Jack Dorsey, CEO of Twitter and Square, sold his first tweet as an NFT, or nonfungible token, for over $2.9 million on Monday when bidding ended on the “Valuables” platform, which is run by Cent, a blockchain-powered social media network. The tweet, which says, “just setting up my twttr,” was first posted by Dorsey on March
A Starlink user terminal being set up. SpaceX Elon Musk’s SpaceX is in talks with the United Kingdom for the company’s Starlink satellite unit to potentially to earn funding as a part of the government’s new $6.9 billion internet infrastructure program, CNBC confirmed. U.K. Minister for Digital Infrastructure Matt Warman recently met with Starlink leadership,
Getty Images New $1,400 stimulus checks could be landing in your mailbox soon. Government agencies including the Treasury Department, IRS and Bureau of the Fiscal Service on Monday announced a second batch of payments will be sent this week. While that includes more direct deposit payments, it also includes a large number of mailed paper
An unresolved issue in the OECD’s base erosion and profit-shifting 2.0 reform project is when and how countries will remove their unilateral digital tax measures once a solution is brokered. The OECD has made it clear that inclusive framework members are expected to revoke unilateral measures and refrain from introducing new ones when that time comes. Yet after
For the past few months, writing on Miami’s overheated real estate markets has felt a little bit like the rat hitting the Crockett & Tubbs cocaine bar. Sales price records continue to be set everywhere. The national press is swooning. And A-list buyers and businesses under pseudonyms and LLCs that we’d all figure out eventually
A healthcare professional draws up a dose of the Oxford/AstraZeneca Covid-19 vaccine at the vaccination centre set up inside Brighton Centre in Brighton, southern England, on January 26, 2021. Ben Stensall | AFP | Getty Images LONDON — The findings of a large U.S. trial have shown that the coronavirus vaccine developed by AstraZeneca and