Author: Money Mechanics

A Lot of Americans Will Hit the Road—and Sky—This Week. Here’s What to Expect 15 minutes ago If you’re traveling this week, you’ll be in good company. A record 81.8 million Americans are expected to travel 50 miles or more for Thanksgiving, according to the American Automobile Association, likely leading to crowded roads, airports and airplanes from Tuesday onward. About 1.6 million more people are expected to travel this year than did in 2024, with nearly 90% driving to their destination, AAA said. Some families may have decided driving was a better option, given that the Department of Transportation ordered flight traffic…

demand is going to continue growing, but insufficient investment could tip fundamentals into imbalance, Russia’s Alexander Novak said today in Beijing. Global demand for oil is about to reach 104.6 million barrels daily this year, the Deputy Prime Minister said, as quoted by TASS. That is slightly lower than OPEC’s demand forecast of 105.14 million barrels daily. Investment in new supply, however, is slow, which has raised the risk of a shortage, according to the official, who is Russia’s top negotiator in OPEC+. Natural depletion at mature fields is one reason for this situation, Novak noted, and the higher cost…

The Insurance Council of Australia (ICA) has declared an Insurance Catastrophe for the strong winds and damaging hail that affected South East Queensland between Sunday, November 23, and Monday, November 24, with the firm noting that insurers have already received more than 16,000 claims.Under the ICA’s catastrophe declaration, which currently covers claims across more than 140 postcodes and will be referred to as CAT 255, insurers will prioritise claims from affected policyholders and triage them to ensure urgent support is provided to the worst-impacted property owners. Moreover, it has also been confirmed that ICA representatives will be assigned to work…

This Week In A Nutshell Rates are a little lower with investors more hopeful for a rate cut at the December 10 Fed meeting after a mixed jobs report and New York Fed President John Williams signaling openness to another cut “in the near term.” But it truly feels like a coin toss, with no new data of significance coming before the meeting and the Fed entering their blackout period on November 29. Upcoming Attractions This is a quiet week with no Fed speeches and few important data reports, just mostly delayed data releases from September. September retail sales (Tuesday):…

Key Takeaways Berkshire Hathaway Inc. (BRK.A, BRK.B) issued a public warning in November 2025 about AI-generated deepfake videos of CEO Warren Buffett on social media. Deepfake fraud attempts surged more than 1,300% in 2024, according to voice security firm Pindrop. Fraudulent Buffett videos can be identified by their robotic voice quality, lip-sync errors, lighting inconsistencies, and claims that contradict his decades-long views on investing. Earlier this month, Berkshire Hathaway issued warnings after AI-generated videos featuring CEO Warren Buffett flooded social media platforms. One channel the company referenced had amassed over 17,000 subscribers by posting AI-generated deepfake videos of the Oracle…

Your editorial “Trump and a New ‘Arsenal of Freedom’” (Nov. 17) provides an insightful assessment of Secretary Pete Hegseth’s acquisition-reform agenda. It is premised on something many in the defense community have understood for years: The U.S. can’t deter peer adversaries with a procurement system that is slow, costly and unable to keep pace with modern threats. Mr. Hegseth rightly notes that the Pentagon is at a make-or-break moment. Empowering program leaders, accelerating contracting authorities and tapping private-sector innovation are the right priorities. Longer-term and predictable procurement is also essential. Industry can’t expand production of critical munitions and systems when…

(World Oil) – Diversified Energy has completed its previously announced acquisition of privately held Canvas Energy, adding a sizeable operated position in central Oklahoma and increasing the company’s daily production by roughly 13%. The $550 million deal includes operated producing assets and approximately 1.6 million net acres across the state. Diversified said the assets currently produce about 24 MMboed and include an inventory of development locations alongside proved reserves of roughly 200 MMboe with a PV-10 value of about $690 million. To finance the transaction, Diversified closed a $400 million asset-backed securitization (ABS XI) structured through a master trust and privately rated…

Key Takeaways A record number of Americans are expected to travel at least 50 miles for Thanksgiving this year, according to AAA.Consumers may cut back on their travel spending after that, according to surveys from Deloitte. If you’re traveling this week, you’ll be in good company. A record 81.8 million Americans are expected to travel 50 miles or more for Thanksgiving, according to the American Automobile Association, likely leading to crowded roads, airports and airplanes from Tuesday onward. About 1.6 million more people are expected to travel this year than did in 2024, with nearly 90% driving to their destination,…

Key Takeaways Tesla shares jumped Monday after Elon Musk posted on social media over the weekend that the company plans to grow its AI chips business. The gains helped bring Tesla’s stock back into positive territory for the year after a hit in recent weeks as worries about an AI bubble weighed on tech stocks. Elon Musk wants investors to know Tesla is an AI chip company, too. “Most people don’t know that Tesla has had an advanced AI chip and board engineering team for many years,” the CEO posted on his social media site X Sunday, continuing that Tesla (TSLA)…

Major U.S. equities indexes climbed Monday afternoon as tech stocks rallied, and as optimism about a rate cut by the Federal Reserve next month grew. The Dow rose 0.4% and the S&P 500 added 1.3%, while the tech-heavy Nasdaq surged over 2%. Tesla’s (TSLA) stock popped 7%, making it one of the top performers in the S&P 500 Monday after CEO Elon Musk posted on social media over the weekend that the company plans to build more AI chips than all others combined.  Shares of Google parent Alphabet (GOOGL) jumped over 5% to an all-time high, extending their recent gains…