Author: Money Mechanics

The dominant gold-stock ETF finally bested its last record close, which was seen an astonishing 14 years ago! stocks forging back into record territory will fuel much bullish financial-media coverage and trader interest, leading to more buying. And this record breakout still remains earlier in gold stocks’ revaluation way higher, as miners’ fundamentals are radically better today than they were 14 years ago. Seemingly an eternity ago in early September 2011, the GDX gold-stock ETF surged to an all-time-record high of $66.63 capping a magnificent 307.0% secular bull over 2.9 years! Gold stocks quadrupling earned fortunes for contrarians, then like…

Opendoor co-founder and newly minted board chair Keith Rabois said remote work and a “bloated” workforce have been a drag on the company’s culture, as he vowed to slash headcount.”There’s 1,400 employees at Opendoor. I don’t know what most of them do. We don’t need more than 200 of them,” Rabois told CNBC’s “Squawk on the Street” on Friday.The online real-estate platform on Wednesday appointed former Shopify executive Kaz Nejatian as its new CEO after investor pressure caused his predecessor, Carrie Wheeler, to resign last month. Opendoor, which is based in San Francisco, also named Rabois as chairman and said…

The all-electric Ram 1500 REV pickup truck is dead. Long live the extended-range Ram 1500 REV (once called the Ramcharger). Stellantis, the parent company of Ram, said Friday that it will no longer develop a battery-electric full-size pickup. The company cited low demand for full-size battery-electric trucks as the primary reason, according to a statement sent to TechCrunch and posted on its website. “As demand for full-size battery-electric trucks slows in North America, Stellantis is reassessing its product strategy and will discontinue development of a full-size BEV pickup,” the company’s statement reads. “As part of this, Ram is renaming its…

Key Takeaways Gold prices have surged to new all-time highs in 2025.The current gold surge is fueled by inflation, economic risks, and the threat to the Federal Reserve’s independence.Buffett calls gold an “unproductive” asset that doesn’t generate income.Berkshire’s 2020 gold mining stake was tactical, not philosophical. Gold prices have surged to new all-time highs in 2025, as both investors and central banks increase their holdings in the yellow metal to hedge against inflation, economic risks, and the threat to the Federal Reserve’s independence. However, legendary investor Warren Buffett has long voiced skepticism about gold as a long-term investment. In this…

KEY TAKEAWAYS Strong back-to-school spending and buying before higher tariffs took effect boosted retail spending last month, new data show, even as a weakening jobs market weighs on the economy.August retail sales, excluding automobiles and gasoline, rose 0.5% seasonally adjusted month-over-month and 6.8% year-over-year, as tracked by the CNBC/NRF Retail Monitor.The report could signal that August sales figures due from the Census Bureau next Tuesday held up, too.Still, NRF CEO Michael Shay said the data shows consumers are spending “thoughtfully,” and cutting back on less essential services. Back-to-school spending and buying before higher tariffs took effect boosted retail spending last…

Key Takeaways 15-year mortgage rates are running about a full percentage point cheaper than 30-year loans, making it the clearest path to a mid-5% rate. But the tradeoff is steep: monthly payments will be hundreds of dollars higher with a 15-year term. Good fits for these shorter, lower-rate loans are higher, steady-income households with solid savings, refinancers whose financial picture has improved, and homeowners aiming to retire mortgage-free. For many first-time buyers and early-stage owners, a 15-year term is a stretch. Keeping total housing costs near 30% of income often points to a 30-year loan instead. The full article continues…

Key Takeaways As you’d expect, Americans ages 45-54 have saved considerably more than younger people, but far less than those closer to retirement. Catch-up contributions and retirement planning are essential for those in their 40s and 50s. Pay off high-interest debt and adjust savings allocations to secure financial stability. Consider ramping up your savings with one of today’s best high-yield savings accounts or a top nationwide CD. The full article continues below these offers from our partners. What the Average American Has Saved by Age 45-54 (and How You Stack Up) As you approach or move through your 50s, how…

This issue of creating new legal estate planning documents or updating them comes up when adult children start to notice problems with aging loved ones. We examine the question of whether an elder has the capacity to sign any legal paperwork. Memory loss usually shows up first and many family members dismiss it as “just getting old”. But memory loss is not a a normal part of aging. It is an early warning sign of cognitive impairment. In many cases, this “mild” cognitive impairment increases and dementia follows. What should families know about this process? Does it affect the ability…

Key Takeaways New Mexico is set to become the first U.S. state to offer free child care to all families, regardless of income.The state has removed its previous income cap, which limited eligibility to families earning up to 400% of the federal poverty line.Most Americans say child care costs are a major reason they delay having children and support more government help with child care. If you’re a parent or planning to become one, moving to New Mexico might save you money. The state is set to become the first in the U.S. to offer free child care for all…

Key Takeaways Enthusiasm about the possibility of a major industry deal helped two media giants extend their rally on Friday, Sept. 12, 2025, while shares of vaccine makers lost ground.Warner Bros. Discovery and Paramount Skydance shares surged for the second straight day as investors mulled reports that Paramount is preparing a buyout bid.Shares of Moderna and other vaccine makers plunged following reports Trump administration health officials will seek to establish a connection between COVID-19 vaccines and child deaths. Shares of two entertainment giants pushed higher for a second straight day as investors weighed the possibility of a takeover bid, while…