Author: Money Mechanics

(Oil Price) – Venezuela’s oil sales, under the control of the United States for five weeks now, are set to bring $5 billion over the next few months, U.S. Energy Secretary Chris Wright told NBC News in an interview. “Sales today are over a billion dollars, and in fact, we have sort of short-term agreements over the next few months that will bring in another $5 billion,” Secretary Wright said in the interview during a historic visit to Venezuela to meet with the interim President Delcy Rodríguez. The United States has already transferred $500 million in proceeds from sales of Venezuelan crude oil to Caracas,…

Key Takeaways The number of “branded residential” properties is expected to nearly double in the next five years as hotel operators expand their footprints in a resilient luxury market.Ultra-high net worth consumers have “separated” from the wider economy, according to one hotel executive, who said last year that many branded properties “don’t make economic sense.” Living in a luxury hotel has been a mainstay of childhood dreams for decades. Today, it’s increasingly a reality—for superrich adults.  “Branded residential” housing, which involves a luxury brand licensing its name to a property developer, is one of the hospitality industry’s fastest-growing businesses. The…

Key Takeaways The toy business rebounded last year, according to a recent report, with shoppers both buying more things and spending more on them. Much of the growth has come from adults, many who are buying for themselves, according to industry data and experts. The toy business has shaken off a slump. You can thank the grownups.  After a period of declining sales exacerbated by tariffs turbulence and softer household spending on discretionary purchases, the toy industry appears to have rebounded from a two-year decline with a pickup in sales in 2025, according to a report from market research firm…

Another trading break is right around the corner. U.S. stock and bond markets are closed Monday, Feb. 16, to mark Presidents’ Day, which is when the birthday of former President George Washington is observed. Monday is the last trading holiday until April. Here’s the 2026 holiday trading schedule through the start of the summer: Monday, Feb. 16 (Presidents’ Day/George Washington’s birthday observed): Stock and bond markets closedFriday, April 3 (Good Friday)—Stock markets closed; bond markets close at noonMonday, May 25 (Memorial Day)—Stock and bond markets close; bond markets close at 2 p.m. on Friday, May 22 Several more trading holidays,…

Key Takeaways In most cities, job growth, wages, and housing move at different speeds—but a small group of metros is managing that balance better than most.Cities like Austin, Raleigh, and Phoenix show how steady job growth paired with housing supply can reduce pressure on millennial budgets.These markets aren’t necessarily cheap, but they offer millennials more flexibility when weighing career moves against housing costs. In most cities, economic momentum doesn’t show up evenly across everyday life. A city might be adding jobs quickly, yet wages lag behind rising rents and home prices. Another metro area might offer solid incomes, but housing…

Mortgage rates slid a bit lower for the week. According to Freddie Mac, the average 30-year fixed rate fell two basis points to 6.09%. That’s a slim three basis points above the three-year low of 6.06%. The 15-year fixed-rate fell six basis points to 5.44%. Discounts on new homes have outpaced the resale market “for the first time in recent history,” Realtor.com reported Thursday. Prices were cut on nearly one in five new homes in late 2025. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 5.88% 20-year fixed: 5.73% 15-year fixed: 5.44% 5/1 ARM:…

Note: Because this inflation report was delayed, it came on a day when I am doing extensive, nonstop traveling in Australia. I won’t be able to post an inflation analysis until much later in the day, possibly overnight in the U.S. Sorry. I will create a new post later today (Australia time is 16 hours ahead of the East Coast). For now, here is the update on non-seasonally adjusted CPI-U, for I Bond watchers: About Tipswatch Author of Tipswatch.com blog, David Enna is a long-time journalist based in Charlotte, N.C. A past winner of two Society of American Business Editors…

Maria Diaz/ZDNETFollow ZDNET: Add us as a preferred source on Google.Virtual assistants will soon be as commonplace as smartphones — in many parts of the world, they already are. Most smartphones have a built-in assistant powered by artificial intelligence (AI), whether it’s Siri on iPhones or Google Assistant (now Gemini) on Android phones. Inside our homes, though, Amazon Alexa has become the most popular virtual assistant in the US and around the world. Now that the generative-AI-powered Alexa+ is available to all US users, even more people are likely to adopt it. Also: This Eero backup device keeps you online when your ISP fails – I wish…

Key Takeaways Apple stock erased its year-to-date gains this week after the Trump administration upped its pressure on the iPhone maker and reports suggested long-awaited AI features were being delayed again.Apple shares gained momentum in January after the company announced an AI partnership with Alphabet and reported record holiday-quarter revenue. Apple (AAPL) stock is in the red again.  The tech giant’s shares slumped 5% yesterday after the Federal Trade Commission said it had sent a warning letter to the company over its Apple News service, adding to pressure felt after reports Wednesday that the company was once again delaying the…

Key Takeaways Pinterest shares tumbled Friday after the social media company’s fourth-quarter results came in short of estimates.Executives said many of Pinterest’s retail clients are pulling back on ad spending as they grapple with higher costs from tariffs. Pinterest’s stock is plunging after the company said its business took a hit from tariffs—though maybe not in the way you’d expect. Shares of Pinterest (PINS) were down nearly 20% Friday afternoon, a day after the social media platform cited the impact of higher tariffs on its ad clients for its disappointing quarterly results. Pinterest CEO Bill Ready told investors in Thursday’s…