Take a look at some of the biggest movers in the premarket: GlaxoSmithKline (GSK) – The drugmaker’s stock rose 3.5% in the premarket after it detailed plans to spin out its consumer health-care business into a separate company. Glaxo will eventually receive an $11 billion payment from the new company. MicroStrategy (MSTR) – MicroStrategy rallied
The racial wealth divide between white and Black families in the U.S. is more of a chasm than a gap. In 2019, the median household wealth for white families was nearly $190,000, almost eight times higher than that of Black households, according to Federal Reserve data. “Baby bonds” are one proposal to help close the
A GameStop store is pictured in New York, January 29, 2021. Carlo AllegriI | Reuters GameStop shares climbed after the videogame retailer said it sold five million additional shares, raising $1.13 billion in capital to accelerate growth. The original Reddit favorite meme stock jumped 9% in premarket trading on Tuesday after the company announced the
As the economy quickly picks up steam in the wake of the Covid pandemic, some amount of inflation is inevitable. On Tuesday, Federal Reserve Chairman Jerome Powell said price pressures have increased “notably” but could fade over time. The May consumer price index jumped 5% from a year earlier, according to a report by the Labor Department, the
For many Americans, Social Security is their biggest retirement asset. The various mistakes people make when managing their Social Security benefits can cost them dearly. You worked hard for decades to accumulate your Social Security retirement benefits, take the time to optimize your benefits. For typical American households, the lifetime value of their Social Security
Higher taxes on long-term capital gains now occupy a prime position on the agenda in Washington. There are proposals to increase the top tax rate on investment gains to as high as 39.6% from the current 20%. Taxpayers subject to the net investment income tax pay another 3.8% currently and would continue to pay that
The housing crisis is not unique to the United States. Many other countries are experiencing their own form of extreme supply issues, leading to very severe market reactions and unrequited demand. In other crisis situations, the world joined hands. For instance, during the past 18 months, the world came together to develop vaccines to stop
In this article MS A view of the Morgan Stanley offices in Canary Wharf, London, U.K. iStock Editorial | Getty Images Morgan Stanley on Tuesday told its staff that workers and clients who are not vaccinated against Covid-19 will be barred from returning to New York City and Westchester County offices with a large employee
U.S. stock index futures were little changed during overnight trading on Tuesday, after the S&P 500 closed just shy of a new record. Futures contracts tied to the Dow Jones Industrial Average advanced 28 points. S&P 500 futures were flat, while Nasdaq 100 futures gained 0.07%. All three major averages finished Tuesday’s session in the
Crypto investor Mike Novogratz told CNBC on Tuesday that bitcoin faces near-term uncertainty after falling below $30,000, but he maintained a long-term positive outlook. Bitcoin has struggled in the past two months, after notching an all-time high in April near $65,000. The weakness in recent days comes as reports indicated China took further steps to
kate_sept2004 | E+ | Getty Images The IRS on Tuesday started an online tool that will allow families to tell the agency they don’t want to receive advance monthly payments from the enhanced child tax credit, scheduled to start next month. Using the new Child Tax Credit Update Portal, families can verify that they’re eligible
The Ohio Retirement Study Council was created by the Ohio Legislature to provide legislative oversight of Ohio’s $200 billion-plus statewide public pension systems. For decades, it has epically failed to perform its limited statutorily-mandated duties. The Ohio Retirement Study Council (ORSC) was created by the Ohio Legislature in 1968 to provide legislative oversight of Ohio’s
The American Rescue Plan expanded the Child Tax Credit from up to $2000 to up to $3600 per child for qualifying children. The entire amount of the credit is now fully refundable. That is, even low-income taxpayers who owe no federal income tax are eligible for the full amount of the credit. The portal for
A newly constructed 12,200-square-foot home in San Francisco has hit the market for $46 million, making it the most expensive listing in the city by the bay. Located in the heart of San Francisco’s affluent Cow Hollow neighborhood, the extraordinary three-level home at 2582 Filbert Street is on a rare triple-width lot, equivalent to 4.62
The North Park Theatre in Buffalo, New York, is a local landmark. Featuring a single screen, 600 seats and ornate domed ceilings, it is an increasingly rare gem in a sea of multiplex cinemas. “This is the kind of place you want to see a movie — you’re going to forget about the outside world
Longtime crypto bull Meltem Demirors reiterated her confidence in the cryptocurrency Tuesday, telling CNBC she believes the correction in bitcoin is simply weeding out the investors with “paper hands.” Paper hands is a term used in the crypto community to characterize people who sell a digital asset such as bitcoin when turbulence strikes markets. It’s
Getty Images After saving up for decades to retire, many Americans are excited to finally stop working and enjoy their free time. Yet for some, switching to a spending mindset after being so focused on saving can be a difficult transition. “There’s a lot of unknows and if there hasn’t been detailed planning or a
A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, May 15, 2021. Kathleen Flynn | Reuters Engine No. 1, the upstart activist firm that put three candidates on Exxon’s board of directors, is launching an exchange-traded fund in a bet that shareholder activism will take center stage in coming years. The Engine
In this article IVZ Thiago Prudencio | LightRocket | Getty Images As the Securities and Exchange Commission defers signing off on bitcoin exchange-traded funds, some companies are exploring other ways to meet investors’ growing demand for cryptocurrency. The SEC on Wednesday pushed another decision to approve Van Eck’s bitcoin ETF, extending the review and asking
We see recurring confusion about what it means to be appointed with authority over money in a Durable Power of Attorney (DPOA) for aging parents. The elders do estate planning and that is part of it. Good. A Durable Power of Attorney Document is signed by the aging parents. Good. But they can misunderstand what