Author: Money Mechanics

broke out of the downward channel it had been trading in for the past few months, but then pulled back to the key $100,000 level. This drop led to a weekly decline of nearly 8%, and traders have turned more cautious. The price found some buying interest around $99,500, which matches the 50% Fibonacci retracement level from the April to October rally — an important technical support zone. At the moment, Bitcoin is trying to stay above $99,500. However, the low trading volume shows that these small rebounds may not last. For a stronger recovery, the price needs to close…

Volunteers load boxes of food into cars during an event held by the Community FoodBank of New Jersey in partnership with Bergen County to deliver emergency food relief to Federal workers and SNAP recipients amid the U.S. government shutdown in Leonia, New Jersey, U.S., November 6, 2025.Mike Segar | ReutersWorries over the government shutdown surged in the early part of November, pushing consumer sentiment to its lowest in more than three years and just off its worst level ever, according to a University of Michigan survey released Friday.The university’s monthly Index of Consumer Sentiment posted a reading of 50.3 for…

Artur Debat/Moment via Getty ImagesFollow ZDNET: Add us as a preferred source on Google.ZDNET’s key takeawaysMoonshot released its new Kimi K2 Thinking model on Thursday.It claims to outperform GPT-5 and Sonnet 4.5 on some benchmarks.Open-source AI poses a challenge to proprietary US models. The global AI arms race stays in constant flux, this time thanks to the arrival of a new model from the up-and-coming Chinese AI lab Moonshot.Also: Why open source may not survive the rise of generative AIOn Thursday, the Beijing-based company released Kimi K2 Thinking, a reasoning model that it says outperforms OpenAI’s GPT-5 and Anthropic’s Claude Sonnet 4.5 on…

Key Takeaways A video game maker faced pressure on Friday, Nov. 7, 2025, after delaying the release of a highly anticipated title, while strong quarterly results helped lift shares of a travel booking company.Expedia reported better-than-expected earnings on strong domestic demand, and its shares surged.Take-Two Interactive Software shares slumped after the video game maker said it would postpone the launch of its “Grand Theft Auto VI.” A video game maker’s stock came under pressure after a decision to delay a highly anticipated game’s launch, while solid growth in gross bookings helped shares of a travel firm push higher. Major U.S.…

Key Takeaways The average American had just over $105,000 in total debt as of the third quarter of 2024, according to last data release from Experian.Knowing how much you owe compared with others can give you a relative sense of your financial health. If you’re wondering whether your debt is out of line with the average American, seeing if you’re above or below the benchmark of $100,000 in total debt is a good start. As of the third quarter of 2024, the average American had about $105,056 in total debt, up 0.8% from the same time a year prior. The…

KEY TAKEAWAYS The IRS is suspending the Direct File program, a free guided tax software for taxpayers in 25 states, for the upcoming filing season.Other free federal tax preparation programs will still be available during the 2026 tax filing season for many taxpayers. A free tax preparation program used by thousands of taxpayers will not be available in the upcoming filing season. The IRS Direct File, which provided a free guided tax software directly from the IRS website to taxpayers in 25 states, has been suspended. Treasury Secretary Scott Bessent, also the current interim IRS commissioner, told reporters that there…

Key Takeaways Those under age 35 had a median transaction account balance of $5,400 as of 2022 and an average balance of $21,000. Those in the 35-44 range had a median of $7,500 and an average of $42,000. Those in the 45-54 range had a median of $9,000 and an average of $71,000. The average down payment on a home in the U.S. is around $60,000, as of the third quarter of 2025. If you’re looking to buy a home in your 30s or 40s, you can boost your savings by seeking out down payment assistance, strategically paying down debt,…

Key Takeaways Block shares tumbled Friday after the payments provider posted weaker-than-expected earnings and higher expenses.Cash App remains a big source of growth for Block, outpacing Square’s gross profit gains for the third quarter. Block (XYZ) shares slumped Friday after the fintech company’s quarterly results fell short of Wall Street’s expectations on the top and bottom lines. The stock dropped close to 8%, making it one of the biggest decliners in the S&P 500 Friday. Read Investopedia’s full daily markets coverage here. Block reported adjusted earnings of 54 cents a share on revenue that rose about 2% year-over-year to $6.11 billion in the third…

Gold is having a moment, and so is Costco.The retail giant’s glittering 1-ounce gold bars have been selling out consistently online, with curious investors and everyday members alike clamoring for access. Costco now offers 24-karat gold, silver and platinum options through its website (and occasionally in warehouses). Some shoppers are picking up bullion the same way they stock up on paper towels and bottled water.But what makes Costco’s gold bars even more intriguing isn’t just the price or the brand. It’s the potential to earn up to 4% in rewards through Costco’s membership and credit card programs. For savvy shoppers,…

Key Takeaways The Federal Reserve cut its benchmark rate by a quarter point last week, but the top high-yield savings and money market accounts still pay up to 5.00%, while the best CDs offer as much as 4.50%. Brokerage and robo-advisor cash accounts are down slightly this week, with a top yield of 3.95%, while U.S. Treasuries pay up to 4.70%. Compare today’s top rates to see which accounts still offer strong yields as interest rates cool and savers look to keep cash working harder. The Best Cash Yields Still Range Up to 5% It’s always smart to make sure…