Author: Money Mechanics

Norway’s sovereign wealth fund has voted against a Tesla proposal to give CEO Elon Musk a compensation package worth $1 trillion. The fund, which is managed by Norges Bank Investment Management, holds a 1.14% stake in Tesla valued at about $11.7 billion, according to its mid-year filings in June. “While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk — consistent with our views on executive compensation,” the fund said in a statement posted on its website. “We will…

Key Takeaways AI could significantly reduce inflation if it delivers on its labor-saving promises, at least one economist forecasts.Cooling prices are great news for Americans struggling to stay on a budget.Historically, revolutionary technology has tended to raise living standards, but the labor market transition could be painful. If AI delivers on its promises, the economy of the future could have lower inflation and far fewer jobs.That’s according to Chen Zhao, chief global strategist at Alpine Macroeconomics, who believes that today’s “jobless profit boom,” fueled by AI expansion, will lead to a low-inflation, low-employment economy in the near future.”The chances are…

(Oil Price)– TotalEnergies on Tuesday announced a power purchase agreement with Data4 to supply renewable electricity to the data center developer’s sites in Spain for 10 years, as the French supermajor looks to boost its integrated power business with the key driver of global electricity demand. The power purchase agreement (PPA) will begin in January 2026 for 10 years and will represent a total volume of 610 gigawatt-hours (GWh). TotalEnergies will supply Data4’s facilities with renewable electricity generated by Spanish wind and solar farms with a capacity equivalent to 30 MW, which are about to start production. “Our ‘Clean Firm Power’…

Here’s How Much Traders Expect AMD Stock to Move After Today’s Earnings 23 minutes ago Advanced Micro Devices is set to report its latest quarterly results after the closing bell today, with traders expecting a big move in the chipmaker’s stock. Options pricing suggests traders expect AMD (AMD) shares could move up to 7% in either direction by the end of this week. A move of that size from the stock’s recent level around $256 could push shares as high as $274, topping October’s record highs in the wake of a massive deal announced with ChatGPT maker OpenAI. At the low end,…

Key Takeaways Major U.S. equities indexes were lower at midday Tuesday, with Palantir Technologies leading tech stocks lower. Palantir’s stock sank amid some worries that it’s overvalued, even though the AI software company posted better-than-expected quarterly results. Yum! Brands shares rose after the company said it was reviewing strategic options for its Pizza Hut brand. Major U.S. equities indexes were lower at midday Tuesday, with Palantir Technologies leading tech stocks lower. The Dow Jones Industrial Average, S&P 500, and Nasdaq all lost ground. Palantir’s (PLTR) stock sank to lead Nasdaq decliners amid some worries that it’s overvalued, even though the AI…

Key Takeaways Advanced Micro Devices is scheduled to report earnings after the closing bell today, with Wall Street analysts expecting record revenue driven by gains in its data center segment.Options pricing suggests traders expect AMD’s stock could move up to 7% in either direction after its results. Advanced Micro Devices is set to report its latest quarterly results after the closing bell today, with traders expecting a big move in the chipmaker’s stock.  Options pricing suggests traders expect AMD (AMD) shares could move up to 7% in either direction by the end of this week. A move of that size…

The home page for Medicare.gov where the Plan Finder resides.ScreenshotIn 2019, an updated Medicare Plan Finder made its debut. Heralding its arrival, the Centers for Medicare and Medicaid Services said it would “provide a personalized experience through a mobile friendly and easy-to-read design that will help (beneficiaries) learn about different options and select coverage that best meets their health needs.” However, the new Plan Finder was anything but friendly. It seemed as though the developers paid no attention to the Plan Finder’s predecessor. As a result, many valuable features were missing. The new tool did not identify preferred pharmacies, list…

Key Takeaways Spot bitcoin ETFs saw some $1.3 billion in outflows since Oct. 29, according to data platform SoSovalue; spot ether ETFs experienced outflows of almost $500 million over the same time period.The weakness in the world’s most well-known cryptocurrency weighed on major stocks linked to it including MicroStrategy, Coinbase Global and Robinhood. Red October is spilling into November. The price of bitcoin, the world’s best-known and most-valuable cryptocurrency, earlier today fell more than 3% to its lowest point—below $103,000—since hitting its all-time high price of over $126,000 in early October. The weakness extends declines that began after what is…

As giving season gets underway, you may be wondering how to contribute this year. Will you give the gift of your time on Giving Tuesday, which this year falls on December 2, or donate funds to a worthy cause, reaping tax benefits as you do so?With around 1.8 million nonprofits in the U.S. vying for donations, it’s can be hard to choose where to direct your cash for maximum impact. One sector you may have overlooked before now is support for veterans and their families.Men and women who’ve served in the armed forces experience post-traumatic stress disorder (PTSD), financial strain…

Americans’ money worries are stacking up as tariffs, inflation and a weakening jobs outlook take an increasing toll. Even stocks hitting a series of record highs lately hasn’t been enough to shake the financial jitters, with memories of the market’s spring swoon still relatively fresh.Four out of five Americans in a survey by Discover this summer said they feel anxiety about their finances — an increase of nine percentage points since 2021 — and one-third characterized their stress as moderate to severe. The findings echo recent studies by Northwestern Mutual and Motley Fool, which found that more than half of…