Author: Money Mechanics

(Oil Price)– Oil prices wiped out earlier gains to dip by more than 2% in early U.S. trade on Tuesday amid renewed concerns that the trade war between the United States and China could slow global economy. As of 9:21 a.m. EDT on Tuesday, the U.S. benchmark, WTI Crude, fell to the $58 per barrel threshold, down by 2.07% on the day at $58.28. The international benchmark, Brent Crude, was trading below the $62 a barrel mark, and was down by 2.02% at $62.04. Oil had stabilized in early Asian trade on Tuesday, as hopes of a diplomatic thaw between Washington and Beijing helped…

Key Takeaways The U.S. economy could take a massive hit if China follows through on threats to restrict its exports of rare earth minerals.Rare earths are used in defense, cars, electronics, and other high-tech products, and China nearly completely controls the market for them.Cutting off rare earths would drag down economic growth and push inflation to double-digit levels, according to one analysis. If the latest skirmish of words between President Donald Trump and Chinese leader Xi Jinping devolves into a full-scale trade war, the U.S. could take an economic hit on par with the onset of COVID-19. That’s according to an…

Claiming family tax credits is a must if you’re eligible. Not only can family tax breaks lower your tax liability, but they may even increase your refund.However, which credits you qualify for can change from year to year. And the amounts of the credits can also change, since many are adjusted yearly for inflation.So, while you might already know about the 2025 child tax credit and other family tax breaks for the previous year, here is what you can expect for the 2026 tax year (for income tax returns normally filed in early 2027). Read on. From just $107.88 $24.99…

As it does each year, the IRS has announced inflation adjustments to several tax credit and deduction amounts for 2026. This includes new 2026 income tax bracket thresholds, higher standard deduction amounts, and an increase in the additional standard deduction available to taxpayers age 65 and older.As Kiplinger has noted, this extra standard deduction — which can be claimed in addition to the regular standard deduction — can help lower taxable income for many eligible retirees and older adults.Adding to those familiar annual adjustments, the GOP’s recently enacted so-called “big, beautiful bill” introduces a new bonus deduction for qualifying older…

Key Takeaways The Small Business Optimism Index declined to 98.8 in September as uncertainty surged due to shifting U.S. government policies.The uncertainty index reached its fourth-highest level in the survey’s history, as business owners expressed concerns about supply chains, inflation, and inventory levels. More business owners said they plan to raise prices, while small business hiring plans were at their highest levels since January. Small business owner optimism in September sank to its lowest level in three months as concerns mount about the direction of the U.S. economy. The Small Business Optimism Index declined to 98.8, its lowest level since June,…

Understanding when to enroll in Medicare is just as important as knowing what it covers. Missing a deadline could result in late enrollment penalties that last a lifetime or delays in coverage. This 10-question multiple-choice quiz will test your knowledge on the most critical Medicare enrollment windows, including the Initial Enrollment Period (IEP), the Annual Enrollment Period (AEP), and key Special Enrollment Periods (SEPs). See if you have the timing down to ensure you lock in the best possible coverage without costly mistakes!And don’t worry if you miss an answer; you can follow the links below the quiz to brush…

Key Takeaways The major U.S. stock indexes are back to making dramatic moves, with investors dealing with another round of trade-related uncertainty.One widely used volatility measure, the VIX, has jumped recently to its highest levels in months. But it’s still well off April highs. Investors are getting a taste of volatility. We’re not back where we were in April—but the increase is notable, with the major U.S. stock indexes moving dramatically Friday and Monday in response to fresh uncertainty regarding the trade relationship with China. (That’s continued today, with the S&P 500 falling as much as 1.5% in early trading…

Key Takeaways Broadcom shares lost ground in early trading Tuesday, giving back a portion of the big gains posted yesterday following news that the chip giant had forged a deal with ChatGPT maker OpenAI.Buying in the stock accelerated yesterday on the highest trading volume in over a month, a move that coincided with the relative strength index reclaiming the 50 threshold to signal a return of bullish price momentum.Investors should watch key overhead areas on Broadcom’s chart around $374 and $415, while also monitoring important support levels near $324 and $291. Broadcom (AVGO) shares dropped Tuesday morning, giving back a…

Key Takeaways JPMorgan Chase CEO Jamie Dimon says the economy has been holding up well, but faces a “heightened degree of uncertainty” with geopolitical tensions, shifting trade policies and the potential for inflation.His company posted its latest quarterly financial results today, one of several leading financial firms on this week’s earnings calendar. The U.S. economy is facing “a heightened degree of uncertainty,” JPMorgan CEO Jamie Dimon said Tuesday. The economy has been fairly “resilient,” despite some indications of softening, such as limited job growth, Dimon said. The path forward, he said, is less certain, given several “complex factors.” “There continues…

By Saeed Azhar and Ateev Bhandari NEW YORK (Reuters) -Goldman Sachs beat Wall Street expectations for third-quarter profit on Tuesday, as its investment bankers earned higher advisory fees and rallying markets boosted revenue from managing client assets. The bank’s prediction for a banner year for dealmaking has materialized as corporations revive plans for mergers and listings. Goldman’s investment banking fees surged 42% to $2.66 billion in the quarter ended September 30 from a year ago. Analysts were expecting a 14.3% increase, according to the average estimate compiled by LSEG. A Goldman executive said the firm advised on $1 trillion in…