Author: Money Mechanics

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on topics submitted by readers. This week, she’s looking at questions on transferring 529 plan money to a Roth IRA. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. General rules for 529 rollover to a Roth IRAQuestion: We funded a 529 college savings plan for my granddaughter. She used the money in the account for college. She’s now done with school, and there are still unused funds in the account. I heard that we can transfer some of the money…

Gemini may be primed to pop when it starts trading. The crypto exchange founded by twin brothers Cameron and Tyler Winklevoss, set its IPO price, $28 per share, overnight, arriving above an already-boosted expected range of $24 to $26. The company—officially known as Gemini Space Station—sold 15.1 million Class A shares, fewer than previously expected, but at a higher price. The deal raised $425 million, according to the company. Shares are expected to start trading on the Nasdaq later today using the symbol “GEMI.” The IPO has many of the trappings of a likely first-day riser. It secured a $50…

Refresh 2025-09-12T13:24:36.130Z A weakening labor market is worrying the Fed A number of economic reports has the Federal Reserve concerned about the labor market.Most recently, Thursday’s release of weekly jobless claims, which climbed by 27,000 in the week ending September 6, to a seasonally adjusted 263,000. This is the highest level since October 2021.Bill Adams, chief economist at Comerica Bank, says this particular initial claims update “should be taken with a larger-than-usual grain of salt” given the volatile nature of the data and the fact that the latest update coincided with the Labor Day holiday and the start of the…

The Federal Trade Commission (FTC) has initiated an investigation into the potential adverse effects of artificial intelligence (AI) chatbots on children and teenagers. The probe encompasses seven major companies, including OpenAI, Alphabet GOOG GOOGL, Meta META, and Snapchat SNAP.Regulators Seek Details On AI Chatbots’ Child SafetyThe FTC on Thursday issued orders to the aforementioned companies to provide insights into how their AI chatbots could negatively impact young users, reported CNBC.The FTC warns that these chatbots often imitate human behavior, which may cause younger users to develop emotional attachments, raising potential risks.Chairman Andrew Ferguson emphasized the importance of safeguarding children online while promoting innovation in key industries — the…

Bitcoin’s cautious rise reaches $115,000 resistance amid Fed rate cut expectations. Investors await Fed’s rate decision; Powell’s comments may trigger market volatility. Bitcoin’s dominance drops as funds shift to altcoins, challenging price sustainability. Looking for actionable trade ideas to navigate the current market volatility? Subscribe here to unlock access to InvestingPro’s AI-selected stock winners. In the second week of September, experienced a cautious upward trend, reaching a critical resistance level by week’s end. Expectations of a are being factored into the market, influenced by recent data. While last week’s focus was on the weak , attention has now shifted to…

In a recent report, rating agency AM Best points to the potential for expansion of the collateralized reinsurance and private insurance-linked securities (ILS) space, not least as catastrophe bond risk-adjusted spreads tighten this year.The catastrophe bond market has been the main driver of overall growth of third-party and alternative reinsurance capacity provided by ILS investors in recent years. AM best estimates that there is around US $60 billion in alternative capital provided via collateralized reinsurance arrangements, reinsurance sidecars, and industry-loss warranty (ILW) transactions at this time. Outside of cat bonds ILS capacity has not grown meaningfully in recent years. Although…

Nina Raemont/ZDNETFollow ZDNET: Add us as a preferred source on Google.ZDNET key takeawaysApple’s Hypertension Detection received FDA clearance on Thursday.The feature doesn’t monitor blood pressure.It tells users whether hypertension is or isn’t present.Apple’s Possible Hypertension Detection feature, unveiled earlier this week, received FDA clearance on Thursday. This is the third FDA-cleared health feature the tech giant has received.FDA clearanceThe feature tracks a user’s blood pressure over a 30-day period and uses the watch’s PPG signal to measure blood volume. After 30 days, it provides a rating that indicates whether a person’s blood pressure is above or below the hypertension threshold.…

Key Takeaways Oxford Industries exceeded earnings estimates as it took steps to offset tariff impacts.The parent of Tommy Bahama, Lilly Pulitzer, and Johnny Was brands got a sales lift from its Emerging Brands.CEO Tom Chubb said Oxford was encouraged by current quarter same-store sales. Shares of Oxford Industries (OXM) jumped more than 20% Thursday, a day after the apparel retailer beat profit forecasts and gave a positive outlook about current-quarter sales as it moved to offset new U.S. tariffs. The company behind Tommy Bahama, Lilly Pulitzer, and Johnny Was brands reported second-quarter adjusted earnings per share of $1.26, while analysts…

Key Takeaways Citi analysts raised their price target on Micron Technology to $175 from $150 and reiterated their “buy” rating.The analysts said the change was based on rising demand for DRAM semiconductors and Micron’s artificial intelligence products.Citi expects Micron to give a better-than-expected outlook when it reports earnings later this month. Shares of Micron Technology (MU) surged roughly 8% Thursday when Citi analysts boosted their price target, pointing to an increase in demand for dynamic random-access memory (DRAM) chips and the company’s artificial intelligence exposure. The analysts raised Micron’s price target to $175 from the previous $150 and affirmed their…

We recently introduced our new Nasdaq Stockholm IPO Pulse. Today, we update the data for our pair of Nasdaq IPO Pulses through September, giving us a sense of the likely IPO environment in Stockholm and the U.S. into early 2025.Nasdaq Stockholm IPO Pulse still near recent high The Nasdaq Stockholm IPO Pulse reached a 2½-year high in June, indicating IPO activity should remain in an upturn. Consistent with that signal, IPO activity also reached a two-year high in Q2.In Q3, the Nasdaq Stockholm IPO Pulse initially fell, then rose in September (chart below, blue line), and is now near June’s 2½-year…