Wall Street is closing higher ahead of a week full of updates about where profits for U.S. companies are heading. The S&P 500 rose 0.4 percent Monday. The Dow and the Nasdaq also rose. Stocks elsewhere around the world slipped after China reported weaker economic growth for the spring than expected. While that’s helped to…
Tesla Builds Its First Cybertruck Two Years Behind Schedule
July 17, 2023
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Tesla produced its first Cybertruck off the assembly line in Austin, Texas, over the weekend after two years of delays. The first Cybertruck finally rolled off the factory line on July 15 to much celebration at Tesla’s Gigafactory. Tesla CEO Elon Musk first announced the first prototype of the electric pickup truck back in 2019 to great…
The Top Common Questions About IRS Regulations for Gold IRAs
If you are considering diversifying your savings by opening a gold individual retirement account (IRA), you probably want to know how the rules differ for a gold IRA compared to a standard retirement account. Gold and standard IRAs are the same in many ways, but there are a few differences. In this guide, we compiled…
S&P 500, Nasdaq Start Week Higher as Investors Await More Results
The S&P 500 and the Nasdaq inched higher on Monday after last week’s strong gains, with investors cautious ahead of quarterly results from industry heavyweights through the week. The Dow Jones Industrial Average fell 9.29 points, or 0.03 percent, at the open to 34,499.74. The S&P 500 opened higher by 3.44 points, or 0.08 percent,…
Dollar Hovers Around 15-month Low as Traders Await Policy Decisions
LONDON/SYDNEY—The dollar edged lower on Monday against a basket of currencies after suffering its biggest weekly drop of the year as traders waited on economic data and policy decisions before selling it down any further. The euro continued climbing, rising 0.15 percent to hit a fresh 16-month high at $1.12440. Versus the yen the dollar…
Oil Slides More Than 1 Percent as Chinese GDP Dents Demand Hopes
LONDON—Oil dropped by more than 1 percent on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world’s second-biggest oil consumer while a partial restart of halted Libyan output also pressured. China’s gross domestic product (GDP) grew 6.3 percent year on year in the second quarter, compared with analyst forecasts…
Global Shares, Dollar Sag After China Data; Traders Bet on Fed Sea Change
July 17, 2023
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LONDON—Global shares and commodities slipped on Monday after data showed the Chinese economy is growing a lot more slowly than expected, while the dollar eased as traders ramped up their bets for an imminent end to U.S. rate rises. China reported economic growth of 0.8 percent in the second quarter, above the 0.5 percent forecasted,…
Investors Exit Downgraded Target Stock
Mega retailer Target has not recovered from consumer boycotts triggered after the company promoted Pride merchandise, with share prices and market cap declining significantly along with financial and popularity metrics. American consumers started boycotting Target in May, after the retail chain rolled out its transgender collection, which included some items that targeted children, including books,…
Hybrid Work Trend May Crash Commercial Real Estate Values By 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
July 15, 2023
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Business & Marketscommercial real estateCompanieseconomic policieseconomyGlobal Real Estatehybrid workInvestmentMarketspandemicreal estateremote work
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
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