In May, the sales of previously owned homes in the United States saw a slight increase of 0.8%, reaching a seasonally adjusted annual rate of 4.03 million units. This uptick, measured against predictions of a decline, feels like a brief gasp of breath in an otherwise suffocating environment colored by high mortgage rates and escalating
In a move that many are hailing as a win for Oklahoma City, the council has approved a deal that ensures the National Basketball League’s Thunder remains in the city until at least 2053. Mayor David Holt emphasized the implications of this agreement, noting that it not only secures the team’s future but also imposes
In the precarious world of defense contracts, one would expect uncertainty to create a ripple effect of skepticism. Yet, as analyst Douglas Harned of Bernstein points out, the potential failure of President Trump’s “Golden Dome” missile defense project may not be the death knell for major defense stocks. Rather, Harned illustrates a counterintuitive narrative: the
As we navigate through the tumultuous waters of the housing market in 2023, an alarming trend emerges: builder sentiment is taking a significant hit. The National Association of Home Builders (NAHB) recently reported a stark decline, with their Housing Market Index (HMI) dropping to an insufficient 32. Anything below 50 is indicative of a negative
Once considered a pedestrian player in the digital investing arena, JPMorgan Chase is embarking on a significant transformation that positions it as a formidable competitor against long-established online brokerages. The bank’s recent announcement to introduce innovative tools for bond and brokered CD trading signifies a pivotal shift in its approach to wealth management. In a
The interplay between a sitting president and the Federal Reserve is nothing short of captivating, particularly under Donald Trump’s administration. When former Treasury Secretary Lawrence Summers spoke on Bloomberg Television about the anticipated Fed chair nomination, his confidence drew attention. Summers predicted that Trump would select a candidate deemed respectable by mainstream observers, despite the
Warren Buffett, often lauded for his unmatched investment acumen, once foreshadowed a triumphant continuation for Berkshire Hathaway in the wake of his eventual departure. However, reality has cast a startling shadow over this prediction—since announcing his intent to pass the torch to successor Greg Abel, Berkshire Hathaway’s stock has plummeted more than 10%. This stark
In a stunning twist of economic fate, the United States has once again emerged as the veritable giant of millionaires, boasting a staggering 23.8 million individuals boasting this privileged status as of 2024. A report by UBS reveals that about 379,000 new millionaires were born last year alone, which translates to more than a thousand
In the ever-evolving landscape of investment strategies, alternative investments are beginning to emerge as a formidable player. Financial advisors, faced with rising geopolitical tensions and instability in traditional markets, are understandably exploring new avenues for diversification. A recent survey conducted among nearly 200 financial planners reveals a noteworthy trend: more advisors are adopting alternative investments,
Florida’s recent budgetary decisions encapsulate a delicate juggling act that leaves more questions than answers. The state’s legislature has approved a $115.1 billion budget, a slight reduction from last year’s $118.6 billion figure. While this may sound like a responsible fiscal move, the underlying controversies and shifts in tax strategies expose vulnerabilities that could haunt