Author: Money Mechanics

45% of respondents are less likely to make a major purchase overall due to the government shutdown, up from 21% in early October, according to a new Redfin survey conducted by Ipsos. 21% of Americans are delaying a major purchase like a home or car because of the shutdown, up from 17% in early October. 15% have canceled a major purchase, up from 7% last month. Nearly half (46%) of respondents say the shutdown has had a negative impact on their life. More than a third (35%) say they are worse off financially because of the shutdown. 7% of Americans…

The Washington Post has said that it was one of the victims of a hacking campaign tied to Oracle’s suite of corporate software apps.   Reuters first reported the news on Friday, citing a statement from the newspaper that said it was affected “by the breach of the Oracle E-Business Suite platform.”  A spokesperson for the Post did not immediately respond to TechCrunch’s request for comment  When reached by email, Oracle spokesperson Michael Egbert referred TechCrunch to its two advisories that it previously posted, and did not answer our questions.  Last month, Google said that the ransomware gang Clop was targeting…

Key Takeaways The Bureau of Labor Statistics missed a second month of jobs reports Friday, deepening a data blackout that’s left policymakers in the dark about important economic trends.The longer the shutdown continues, the greater the chance the reports will be skipped entirely rather than just delayed. How many jobs did the U.S. economy gain or add in October? We may never know. In a normal month, the Bureau of Labor Statistics would publish its monthly jobs report Friday, with information on the national unemployment rate, job creation, and other data about the labor market. But due to the ongoing government…

(World Oil) – U.S. shale companies are forging ahead with their production plans, adapting to $60 oil prices while grinding out small increases and setting up the industry to add to next year’s record supply glut. Diamondback Energy Inc., Coterra Energy Inc. and Ovintiv Inc. this week announced plans to raise output slightly for this year or 2026 despite oil prices falling close to the threshold needed for many U.S. shale wells to break even. Last week, Exxon Mobil Corp. cemented its position as the biggest Permian basin operator by lifting its 2025 production guidance by 100,000 boed, more than…

Key Takeaways Nancy Pelosi, who was the first female Speaker of the U.S. House of Representatives, will retire from Congress when her term ends in 2027.She has amassed a net worth of hundreds of millions of dollars thanks in large part to investments in big-cap technology stocks and real estate.With her husband, venture capitalist Paul Pelosi, Pelosi has an estimated net worth of over $278 million. Besides being known for her career in politics, Nancy Pelosi has also made headlines with her investing moves—which often have proven highly profitable and have added millions to her net worth. Pelosi’s net worth…

Key Takeaways BCA researchers in a note this week recommended shorting the stocks of U.S. hyperscalers and going long Asian chipmakers in anticipation of an AI stock pullback.There’s a good chance Big Tech’s massive AI investments deliver subpar returns on investment, BCA says, which it believes will depress their stock valuations even if their profits continue to grow. The boom-bust cycle that has lately powered a pullback in cryptocurrencies and precious metals is coming for AI stocks, according to BCA Research. And they have an idea for how to play it. BCA’s analysts this week recommended going long Korean and…

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 was down about 10% in recent trading, leading decliners in the S&P 500. 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 quarter. Both figures…

To help you understand the trends surrounding AI and other new technologies and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts. (Get a free issue of The Kiplinger Letter or subscribe.) You’ll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…It’s not easy to make sense of the artificial intelligence arms race. Astronomical sums are being spent on building AI data centers, with circular financing deals…

It all started sixteen years and $50,000 ago. I needed an excuse to get my infant daughter to sleep and couldn’t admit complete failure by driving around aimlessly.So I strapped her into the car seat, hopped in the SUV, and hit the Starbucks drive-thru. I’m a new mom — who doesn’t need caffeine? And if she falls asleep…She was conked out by the time I had my drink in hand, and I spent the rest of her nap in the driveway, working in my car. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK…

Key Takeaways The University of Michigan Consumer Sentiment Index fell to 50.3 in November, the lowest level since June 2022, while its survey results on current economic conditions were at the lowest point in the report’s 73-year history.While consumers had previously brushed off the government shutdown, this month’s results showed that the budget battle was weighing more heavily on people’s perception of the economy.  Consumers have been relatively unfazed by the U.S. government shutdown up until now, a closely watched survey revealed Friday. The Michigan Consumer Sentiment Index fell to 50.3 in the preliminary reading for November, a low not seen…