Author: Money Mechanics

A divided U.S. appeals court has ruled that most of President Donald Trump’s tariffs are unconstitutional, prompting him to denounce the decision as “highly partisan” while economists stressed that the ruling limits executive power but does not eliminate tariffs altogether.Appeals Court Strikes Down Tariffs, Allows Supreme Court AppealIn a 7-4 decision on Friday, the U.S. Court of Appeals for the Federal Circuit said Trump overstepped his authority by using the International Emergency Economic Powers Act to impose sweeping tariffs, reported Reuters.The court noted that IEEPA, historically used for sanctions and asset freezes, does not explicitly grant the president authority to…

Inflation edged higher in July, according to the Federal Reserve’s preferred inflation measure, indicating that President Donald Trump’s tariffs are working their way through the U.S. economy.The personal consumption expenditures price index showed that core inflation, which excludes food and energy costs, ran at a 2.9% seasonally adjusted annual rate, according to a Commerce Department report Friday. That was up 0.1 percentage point from the June level and the highest annual rate since February, though in line with the Dow Jones consensus forecast.On a monthly basis, the core PCE index increased 0.3%, also in line with expectations. The all-items index…

Adrian Kingsley-Hughes/ZDNETFollow ZDNET: Add us as a preferred source on Google.I’ve collected my fair share of multitools and gadgets, but I’ve lost track of how often I’ve needed one — only to realize it’s sitting at home or in the car. Carrying a full toolbox everywhere just isn’t practical.What I do have with me almost all the time, though, is my keychain — and it turns out, it’s the perfect way to keep essential tools within reach.Also: Are Amazon Basics tools worth it? My verdict after testing the top-sellers for weeksMy keychain is the one bit of kit I get asked the…

TOWCESTER, NORTHAMPTONSHIRE, UNITED KINGDOM – 2025/07/05: Actor Keanu Reeves seen in the paddock during the Formula One British Grand Prix at Silverstone. (Photo by Paul Bonser/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images The American Association of Retired Persons has named the 25 hottest actors over 50. Which stars age 50-plus made the cut? The AARP’s Movies for Grownups section of AARP Magazine revealed the list on Thursday, which is the cover story of its latest print issue. Referring to Cary Grant as “one of the hottest leading men of all time,” the AARP noted, “We have actors like…

Key Takeaways Forecasters expect tariffs to push up consumer prices and drag down economic growth in the coming months.Inflation is expected to accelerate, but not to the ultra-high levels of the 1970s, when the term “stagflation” was coined to describe the economic stagnation and high inflation.Stagflation is different from a recession, in which the economy crashes and prices fall. The U.S. economy might be headed for a bout of ’70s-style stagflation, but economists expect it to be far less severe this time around.Many forecasters say the U.S. is entering a period of slow economic growth combined with accelerating inflation. At…

Every month, the Social Security Administration mails more than 74 million checks to people who receive retirement, spousal, survivor, or disability benefits. That’s a lot of checks, so they aren’t all mailed at once. Here’s the breakdown of how they’re distributed. Most beneficiaries are paid according to their birth date. There are some exceptions, such as separate payment dates for individuals who started receiving benefits–whether retirement, spousal, or survivor–prior to May 1997, or people who also qualify for Supplemental Security Income (SSI). SSI is a federal program that provides additional income for people with disabilities and adults 65 and older…

(Oil Price)– Previously rejected MEG Energy bidder Strathcona Resources intends to buy an additional 5% stake in MEG and vote these shares and the existing 9.2% stake against the Cenovus acquisition offer for MEG, as the latest major Canadian deal faces hurdles towards completion. Last week, Cenovus Energy announced it has entered into a definitive arrangement agreement to acquire MEG Energy Corp in a cash and stock deal valued at US$5.7 billion (C$7.9 billion), including assumed debt. The agreement between Cenovus and MEG came after a months-long saga in which suitors had sought to buy MEG Energy. Earlier this year, Strathcona Resources made…

KEY TAKEAWAYS Affirm swung to a quarterly profit with better-than-estimated results, as the buy now, pay later (BNPL) provider posted surging gross merchandise volume. Gross merchandise volume, also known as gross merchandise value (GMV), jumped 43% to $10.4 billion in the fiscal fourth quarter.The buoyant numbers boosted Affirm shares, which jumped 17% in early trading Friday, bringing their year-to-date gain to over 50%. Affirm (AFRM) swung to a quarterly profit with better-than-estimated results, as the buy now, pay later (BNPL) provider posted surging gross merchandise volume.  The buoyant numbers boosted Affirm shares, which jumped 17% in early trading Friday, bringing their year-to-date gain…

Key Takeaways Autodesk beat profit and sales estimates on artificial intelligence data center demand for its design software.Billings also exceeded forecasts. The company boosted its full-year outlook for adjusted earnings, revenue, and billings. Investors drove shares of Autodesk (ADSK) 8% higher Friday, a day after the company posted better-than-expected results and raised its guidance on demand for its design software for artificial intelligence data centers. Autodesk reported fiscal 2026 second-quarter adjusted earnings per share (EPS) of $2.62, with revenue rising 17% year-over-year to $1.76 billion. Both exceeded forecasts. Billings jumped 36% to $1.68 billion, also more than estimates.  Design segment…

Key Takeaways Nvidia Corp. (NVDA) makes up about 7.3% of the S&P 500, the highest concentration of any one stock in 35 years of data from Leuthold Group. Other popular index mutual and exchange-traded funds (ETFs) tell a similar story, with the AI chipmaker very heavily weighted. It isn’t just Nvidia. The Magnificent 7 make up roughly a third of the S&P 500. Nvidia is responsible for roughly a fifth of the S&P 500’s gains this year, according to a recent report. Not all S&P 500 companies are created equal. In fact, if you’ve invested in a fund that tracks…