Author: Money Mechanics

Former Disney CEO Bob Chapek has secured a buyer for his hilltop Los Angeles estate—just four months after listing the “resort quality” dwelling for $14.99 million. Chapek, 66, who served as CEO of the Walt Disney Company from 2020 to 2022, purchased the six-bedroom, seven-bathroom dwelling in 2021 for $12.5 million.But just five years later, the “trophy estate” reappeared on the market, with property records showing that it was listed on Jan. 6.While perhaps a far cry from the “Happiest Place on Earth,” the extraordinary abode still flew off the market in a matter of months—albeit for around $2 million…

(Image credit: Getty Images)Stocks jumped out of the gate Wednesday and rallied into the close on reports that the U.S. and Iran are close to agreeing on terms to end the conflict that started in late February.Encouraging jobs data and big post-earnings gains for several large-cap stocks also kept the wind at the market’s back, with the S&P 500 and Nasdaq Composite notching record closes for the second straight day.At the close, the broader S&P 500 was up 1.5% at 7,365 and the tech-heavy Nasdaq added 2.0% to 25,838. The blue-chip Dow Jones Industrial Average rose 1.2% to 49,910, but…

(Image credit: Getty Images)Naming a beneficiary seems like a “set it and forget it” task, but a lot can change between the time you open an account and the time your heirs need to access it. From the complications of leaving money to minors to the importance of naming a backup, a few simple designations can make or break an estate plan.By reviewing your forms annually and understanding how these choices interact with your broader financial goals, you can provide your family with clarity and peace of mind during a difficult time.And don’t worry if you miss an answer; you…

There is a particular kind of corporate announcement that tries to play it safe and be two things at once – a show of strength on one end, and an admission of reality on the other. Coinbase seems to have joined the group. The crypto exchange company announced it is cutting approximately 14% of its workforce. According to Forbes, that is roughly 700 employees, just days before its first quarter 2026 earnings report on May 7. The restructuring is being framed as an AI efficiency play. But the timing, in a down crypto market with trading volumes falling significantly despite…

Gold’s powerful rally has paused – but not in isolation. As geopolitical tensions escalate and energy markets take center stage, the macro landscape is shifting in ways that temporarily sideline precious metals. The recent oil price surge, driven by conflict in the Middle East and structural stress in the global energy system, is now dictating market sentiment, liquidity flows, and inflation expectations. In this environment, gold finds itself caught between long-term structural strength and short-term tactical pressure – correcting after an overheated advance while competing with oil for leadership in an increasingly fragmented and unstable world.1. Review – Gold Corrects While…

oxygen/Moment via Getty ImagesFollow ZDNET: Add us as a preferred source on Google.ZDNET’s key takeawaysA new feature lets Claude Managed Agents refine their memories.Managed Agents speeds agent build and deployment 10x. Anthropic continues to anthropomorphize its products. AI agents seem to get new capabilities almost every day. Now, Anthropic says its agents can dream. Claude Managed Agents, which Anthropic released on April 8, lets anyone using the Claude Platform create and deploy AI agents. The suite of APIs handles the time-consuming production elements developers go through to build agents, letting teams launch agents at scale — 10 times faster, as Anthropic said in the release.Also: The…

(Oil Price) – Crude oil prices extended losses for a second day today, after President Trump said the United States would pause its plan to escort vessels out of the Strait of Hormuz just a couple of days after it was announced. The news prompted expectations that a peace deal may be in the making, pressuring Brent crude below $107 and West Texas Intermediate tumbling to under $100. At the time of writing, Brent crude was trading at 106.50 per barrel, and WTI was changing hands for $98.55 per barrel. “We have mutually agreed that, while the Blockade will remain in full force and…

U.S. cash equities rebounded sharply in April as selling pressure eased and risk appetite improved. Following year‑to‑date lows touched in late March, the S&P 500® Index increased 10.4% in April and the Russell 2000® Index outperformed with a 12.2% gain, reflecting renewed interest in cyclical and small‑cap exposure. Market breadth improved, with the S&P 500® Equal Weight Index (SPEQX) rising 5.9%, though leadership quickly reconsolidated among the largest names.Mega‑cap leaders drove much of the recovery, with the Cboe Magnificent 10SM Index (MGTN) up more than 20%, accounting for a significant portion of the market’s rebound. Beneath the surface, dispersion remained…

(Image credit: Getty Images)Controversy swirls over whether AI is a bubble — and whether the excitement about its potential is overblown and will one day peter out.But many people don’t know that they are already using AI — and they’re using it quite a bit. If more people knew what AI does, how it does it and what changes it has brought, they wouldn’t believe it’s a boom/bust industry.According to a recent study by Gallup Newsletters and Telescope, 99% of Americans have used a product that uses AI as part of its operation, but only 64% of those people realized…

(Image credit: Getty Images)Senate Bill 1486 is currently awaiting a vote in the Illinois Senate, and it’s already being met with a mix of enthusiasm and disdain. Illinois Secretary of State Alexi Giannoulias has championed it as a set of strong consumer protections for Illinois drivers. But some in the insurance industry are saying the new regulations will lead to rate hikes or more policy cancellations.With such mixed messaging coming out about this bill, Illinois residents might be concerned and confused about what the new law would mean for their budget.If passed, it could have a real impact on both…