Author: Money Mechanics

Executive Summary Large and small caps reached new all-time highs in Q3Cyclical sectors reach new relative highs versus defensiveGold is having its best annual performance since 1979S&P 500 corporate earnings are forecasted to grow 7.9% YoY in Q3All 11 large- and small-cap sectors are positive YTDStocks and bonds gain during government shutdowns in last 30 years “Every bull market climbs its own wall of worries” is an old Wall Street adage that may never be more apropos than what we are witnessing this year. The list of market concerns in 2025 has been extensive, and growing, starting with tariffs and trade wars, rising geopolitical…

Key Takeaways Apple is accelerating its focus on the development of smart glasses as it looks to compete with Meta Platform’s Ray-Ban Display, Bloomberg reported.Apple has some time, given that the Display can strain the eyes and is not yet suitable for everyday use, Oppenheimer analysts said. Tech giants want more face time with us. Literally. Apple (AAPL) is racing to release smart glasses that rival those of Meta Platforms (META) and gain ground in a device category that they see becoming a vital AI access point. The company last week froze work on its latest headset to free up…

Key Takeaways SoFi Technology said it is adding new options products for its customers, with zero commissions and no contract fees.The company said it made the move in response to demand for more offerings. SoFi Technology (SOFI) wants to make it easier to trade options for its customers. The digital financial services provider said Thursday it has started rolling out so-called “level 1” options—which are designed for beginners—for its SoFi Invest members, including covered calls and cash-secured puts, in addition to the level 2 strategies already available. The new offerings come with no commissions or contract fees, and SoFi said…

Key Takeaways Several states—including Alaska, Colorado, Georgia, and New York, and New Jersey—are sending money to residents in 2025. The reasons vary.Alaska residents can receive money every year through the state’s Permanent Fund.Colorado and New York are providing sales refund checks to residents.Virginia and Georgia are sending tax rebates based on tax liabilities from previous years. Who doesn’t love getting some extra cash? This year, in some states, residents will receive checks or direct deposits from their state government for everything from refunds for inflation, dividends for revenue generated from oil royalties, and tax rebates. Here’s who qualifies. Alaska Established…

CEO Shannon Spotswood.Courtesy of RFG Advisors Firm: RFG Advisory Name: Shannon Spotswood Location: Vestavia Hills, AL Team Custodied Assets: $5.8 billion Background: Shannon Spotswood grew up in Seattle after being born in Nashville and knew from an early age she wanted a career on Wall Street. By the time she was 14, she had asked her parents for a subscription to The Wall Street Journal. After double-majoring in economics and political science at the University of Arizona, she moved to San Francisco to pursue finance. Her early roles included investment banking at Volpe Brown Whelan, where she worked on the…

Key Takeaways Nvidia Corp. (NVDA) CEO Jensen Huang says electricians, plumbers, and carpenters will be needed to build AI infrastructure, predicting a sustained boom in the skilled trades. Other prominent CEOs have warned of looming shortages in skilled trades, particularly the electricians needed for data center construction. Yale Budget Lab data shows no significant artificial intelligence-driven labor market disruption 33 months after ChatGPT’s launch. Workers are increasingly worried that an artificial intelligence (AI)-driven cost-cutting wave could threaten their jobs. And Nvidia CEO Jensen Huang isn’t offering much comfort. In a recent interview with Channel 4 News in the U.K., he…

Key Takeaways Shares of credit score Fair Isaac soared on Thursday, Oct. 2, 2025, as it said it would provide data more directly to lenders. Shares of competing credit bureaus lost ground.An increase in cryptocurrency prices helped lift shares of crypto exchange operator Coinbase.Shares of Occidental Petroleum fell as the company confirmed a deal to sell part of its business to Warren Buffett’s Berkshire Hathaway. Shares of a data analytics firm took off after the company said it would provide its consumer credit scores directly to firms that give credit reports to mortgage lenders. The move pressured the credit bureaus…

Key Takeaways Generation X carries the largest amount of credit card debt in the U.S., followed by millennials and then baby boomers.Credit card balances have spiked across most age groups since 2021, presumably because of higher borrowing costs and higher costs of living.The best way to use credit cards is to pay off balances before interest is applied. Average Credit Card Debt by Generation Credit card debt in the U.S. varies by age group. According to research from Experian, the average 2025 balance is as follows for each generation: As you can see, credit card debt is lowest among the…

Stocks were choppy Thursday as the government shutdown continued for a second straight day, with no sign of resolution in sight. Still, the three main indexes managed new record closing highs thanks to strength in the technology sector.At the close, the tech-heavy Nasdaq Composite was up 0.4% to 22,844, the broader S&P 500 had gained 0.06% to 6,715, and the blue-chip Dow Jones Industrial Average was 0.2% higher at 46,519.Technology was one of just three S&P 500 sectors that advanced Thursday, with its gains supported by several mega-cap semiconductor stocks. On Wednesday, OpenAI said it inked deals with South Korea’s…

The customs duties data for the United States was recently updated, and we can assess the “success” of Trump 2.0’s tariff policies so far. On an annualised run rate, customs duties were 0.88% of GDP in the second quarter (the latest monthly figure Treasury I saw was around $350 billion annualised versus the $267 billion BEA second quarter figure).The rise of tariff revenue is rapid, but the magnitude is relatively small so far. As such, it is not entirely surprising that there has not been a massive jump in the CPI — the various climbdowns and exceptions means that the…