Author: Money Mechanics

It’s the most wonderful time of the year, and for investors in America’s stockmarket that is saying something. They have had a marvellous 2024, as share prices that had already soared in 2023 just kept on going. The S&P 500 index of large firms is now 54% higher than it was two years ago, a winning streak it has bettered just a handful of times since its inception in 1957. To be sure, there have been jitters along the way. The most recent came on December 18th, when share prices fell by 3% in a single day after the Federal…

Key Takeaways Shares of Chinese EV maker Nio that trade in the U.S. continued to get a boost Friday as the Tesla rival gets ready to launch its challenger to the Model Y L SUV.The new ES8 will be priced at about $58,000, but lower for those who sign up for Nio’s battery subscription.Nio said the ES8 was the largest electric SUV made in China. U.S.-listed shares of Nio (NIO) soared 14% Friday to trade at their highest level in nearly a year as the Chinese electric vehicle (EV) maker this week unveiled the new ES8, its SUV challenger to the…

Shark Tank investor Kevin O’Leary has recalled how stripping his son of financial safety nets pushed him to excel academically, sharing the tough-love lesson that propelled him to Harvard.O’Leary Says Entitlement ‘Ruins Ambition’Earlier this week, O’Leary posted a video on social media recounting a conversation with his son, Trevor, about family wealth and trust funds. “My son asked me about his trust fund. I told him it ends when school does. No grades, no cash,” O’Leary said. “The look on his face was horror.””That’s when I hit him with the line my mother gave me: ‘The dead bird under the nest…

Real gross domestic product (GDP) increased in 2,357 counties, decreased in 734 counties, and was unchanged in 23 counties in 2023, according to estimates released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP ranged from 125.8 percent in Throckmorton County, TX, to –39.6 percent in Lincoln County, WA (table 1). GDP is the value of final goods and services produced within a county. The size of a county’s economy as measured by GDP varies considerably across the United States. In 2023, the total level of real GDP ranged from $17.0 million in Petroleum County,…

In-brief analysis July 9, 2025 Data source: U.S. Energy Information Administration, Refinery Capacity Report and Petroleum Supply MonthlyNote: Refinery Capacity Report data are reported as of January 1 of each year, so changes in capacity that take place during a given year are represented in the newly reported total capacity number for the start of the following year. California is set to lose 17% of its oil refinery capacity over the next 12 months because of two planned refinery closures. If realized, the closure of the facilities is likely to contribute…

President Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign from her position.”What she did was bad,” the president told reporters who asked about Cook, an appointee of former President Joe Biden who has come under fire from the Trump administration over allegations about her mortgages.”So I’ll fire her if she doesn’t resign,” he said during a surprise visit to The People’s House, a museum of the White House.If Trump were to successfully remove Cook “for cause,” he would get the chance to reshape the central bank’s governing board, potentially for years…

Joseph Maldonado/ZDNET ZDNET’s key takeaways Pixel 10 is the first US phone to get Bluetooth 6.Bluetooth 6 adds upgrades, including precise channel sounding.Both devices need Bluetooth 6 to fully take advantage, so adoption will be slow.Get more in-depth ZDNET tech coverage: Add us as a preferred Google source on Chrome and Chromium browsers.Google’s Pixel 10 smartphones debuted with plenty of noteworthy features, including native magnetic wireless charging, an industry-first IP68 dust- and waterproof foldable phone design, and more intuitive AI features. One of the most significant updates, however, is the phone’s adoption of Bluetooth 6, making them the first in…

Early retirees: Protect yourself and spouse with medical insurance.getty You can read many facts and figures that help explain why early retirees need to find a good health insurance policy. However, research on how people make decisions shows that often it takes powerful stories to motivate you to put in the time, effort, and money needed to take action. To help you with this endeavor, here are two true stories that illustrate the protective power that good health insurance policies can provide for retirees who aren’t yet eligible for Medicare at age 65. ForbesAffordable Health Insurance Can Be A Deal-Breaker…

Key Takeaways U.S. equities took off at midday as Fed Chair Jerome Powell indicated interest-rate cuts may be appropriate now.Solar power, EV, and homebuilder stocks rose on Powell’s comments.Intuit’s outlook was below forecasts as its MailChimp and TurboTax products showed weakness in the second quarter. U.S. equities jumped at midday after Federal Reserve Chair Jerome Powell hinted that policymakers could be cutting interest rates soon. The Dow Jones Industrial Average, S&P 500, and Nasdaq all rose around 2%. Companies that benefit from lower borrowing costs saw their shares advance. Those included solar power providers Enphase Energy (ENPH) and First Solar…

From increased credit card debt stressing Americans out to the Federal Reserve possibly nearing an interest rate cut, here is some news that could impact your wallet this week, and how you can prepare your finances for the week ahead. Americans Are More Concerned About Their Debt Several reports this week show more Americans are struggling with their debt. Many continue to add debt, yet they have become overwhelmed with balancing a volatile economy and high interest rates which make borrowing more expensive. About six in 10 parents surveyed by National Debt Relief have gone into debt to pay for…