The absorption of First Republic Bank by JPMorgan Chase on May 1 was just the latest step in a relentless march of consolidation among U.S. banks, as America’s banking industry becomes both more concentrated and more closely entwined with the federal government. Since the “Great Financial Crisis” of 2008, federal regulators have become comfortable with…
ANALYSIS: Politics, Finance Merge as Banks Become Fewer in Number, More Aligned With Government
May 26, 2023
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Closing Prices for Crude Oil, Gold, and Other Commodities (May 26)
May 26, 2023
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Benchmark U.S. crude oil for July delivery rose 84 cents to $72.67 a barrel Friday. Brent crude for July delivery rose 69 cents to $76.95 a barrel. Wholesale gasoline for June delivery rose 3 cents to $2.70 a gallon. June heating oil rose 2 cents to $2.37 a gallon. June natural gas fell 13 cents…
How Major US Stock Indexes Fared May 26
Stocks rose on Wall Street, led by more gains in technology stocks as another chipmaker reported strong demand related to artificial intelligence. The S&P 500 rose 1.3 percent Friday, and the Nasdaq rose 2.2 percent. The Dow added 1 percent. Marvell Technology jumped 33 percent after saying it expects AI revenue to at least double…
What’s the Deal With Jumbo Loans
May 26, 2023
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One of the reasons that First Federal Bank failed was the abundance of low-interest jumbo loans they had outstanding. Jumbo loans or mortgages are riskier for banks to make. But what are jumbo loans, and why are they risky? They may have been popular with the recently failed banks, but are they still common with…
How Is Inflation Measured? Understanding the Consumer Price Index
When prices surge across various sectors of the economy, you’ll start hearing analysts talk about inflation. Inflation is the devaluation of currency over time, meaning as goods and services become more expensive, the buying power of your money decreases. People will often first notice inflation by realizing that something they buy regularly is more expensive…
Cars Are Getting More Expensive—Here’s How to Keep Yours on the Road Longer to Avoid Costly Payents
DETROIT—With the average new-vehicle price in the United States at nearly $48,000 and the cost of a used automobile averaging almost $29,000, many people are getting repairs done and keeping their vehicles longer. That’s boosted the average age of a vehicle on U.S. roads to a record 12.5 years this year, according to state registration…
Cars Are Getting More Expensive—Here’s How to Keep Yours on the Road Longer to Avoid Costly Payments
DETROIT—With the average new-vehicle price in the United States at nearly $48,000 and the cost of a used automobile averaging almost $29,000, many people are getting repairs done and keeping their vehicles longer. That’s boosted the average age of a vehicle on U.S. roads to a record 12.5 years this year, according to state registration…
Cleaning Up after Dogs and Root Canals: What Australians Would Rather Deal With Than Their Taxes
A new survey of over 1,000 Australians has highlighted the stress and barriers they face during tax time, with almost one in three finding the end of the financial year and tax submission time to be stressful, and a fifth preferring to pick up their pooches poop than complete their tax return. When asked to…
Root Canals and Cleaning Dog-Doo: What Australians Would Rather Do Than Their Taxes
A new survey of over 1,000 Australians has highlighted the stress and barriers they face during tax time, with almost one in three finding the end of the financial year and tax submission time to be stressful, and a fifth preferring to pick up their pooches poop than complete their tax return. When asked to…
How Major US Stock Indexes Fared May 25
Wall Street’s building mania around artificial intelligence helped lift the market, even as worries worsen about political rancor in Washington. The S&P 500 rose 0.9 percent Thursday after chipmaker Nvidia gave a monster forecast for upcoming sales as it benefits from the rush into AI. Because of its immense size, Nvidia is one of the…
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