Capital One secured approvals from banking regulators Friday for its $35 billion acquisition of Discover Financial — a deal that analysts believe could have far-reaching benefits beyond just the Club holding. The news Wells Fargo research analysts said the greenlights from the Federal Reserve and the Office of the Comptroller of the Currency highlight a softer regulatory environment under the Trump administration. That bodes well for investment banking businesses in large U.S. banks such as fellow portfolio name Goldman Sachs . In a Sunday note, the analysts described the Capital One-Discovery merger as a “clearing event” for more bank deals…
Author: usaeverydaylife
Sports betting stocks appear comparatively resistant to the volatility in the global macroenvironment this year, according to Roth Capital Partners. Stocks saw yet another brutal sell-off Monday as investors again confidence in the prospect of easing global trade tensions, and as President Donald Trump’s latest attacks on Federal Reserve Chair Jerome Powell raised questions about the independence of the central bank’s monetary policy from political pressure. “In our view, market signs point to a prolonged period of repair,” JC O’Hara, chief technical strategist at Roth, wrote in a Sunday note to clients. “Trend damage requires difficult work to repair. Levels…
A person holds a sign during a protest against cuts made by U.S. President Donald Trump’s administration to the Social Security Administration, in White Plains, New York, U.S., March 22, 2025. Nathan Layne | ReutersA federal judge has once again blocked Department of Government Efficiency staffers, operating inside the Social Security Administration, from accessing sensitive personal data of millions of Americans.U.S. District Judge Ellen Lipton Hollander on Thursday granted a preliminary injunction to block the so-called DOGE from further accessing sensitive personal data stored by the agency. As a result, DOGE will have to comply with certain legal requirements when accessing…
Amazon CEO Andy Jassy speaks at a company event in New York on Feb. 26, 2025. Amazon has rebooted Alexa with artificial intelligence, marking the biggest overhaul of the voice-activated assistant since its introduction over a decade ago. Michael Nagle/Bloomberg via Getty ImagesMichael Nagle | Bloomberg | Getty ImagesAmazon has delayed some commitments around new data center leases, Wells Fargo analysts said on Monday, the latest sign that economic concerns may be affecting tech companies’ spending plans.A week ago, a Microsoft executive said the software company was slowing down or temporarily holding off on advancing early build-outs. Amazon Web Services…
President Donald Trump listens to reporters’ questions as he meets with Italian Prime Minister Giorgia Meloni in the Oval Office at the White House on April 17, 2025 in Washington, DC.Win Mcnamee | Getty ImagesPresident Donald Trump will meet Monday afternoon with executives from some of the nation’s biggest retailers, as his aggressive and unpredictable tariffs threaten to upend their import-heavy business models.Trump is set to host top officers from Walmart, Target, Home Depot and Lowe’s at the White House to discuss the impact of his trade policies, an administration official told CNBC.Read more CNBC politics coverageThe White House did…
Torsten Slok, chief economist at Apollo Global Management, is certain the U.S. will fall into a recession this year if tariffs stay where they are. “It’s all conditioned on tariffs staying in place at these levels, and if they stay at these levels, we will absolutely have a recession in 2025,” Slok told CNBC’s ” Squawk on the Street ” on Monday. If the high tariffs that were put in place earlier this month remain in effect, odds of a two-quarter contraction in economic output stand at 90%, with gross domestic product dropping by four percentage points, according to the…
Bitcoin is extending its relief rally, now nearly 20% above its monthly low. The 50-day moving average (MA) has been cleared on improved momentum. However, there is a confluence of resistance essentially in-line, between $88.2K and $88.8K, based in part on the 200-day MA. If this zone is cleared, it would be a positive near-term development for bitcoin, putting next resistance at a Fibonacci retracement level near $95.9K. On the weekly bar chart of bitcoin, the stochastics have turned higher from oversold territory, which increases the chances of a short-term breakout. In contrast, on a monthly chart, the stochastics have…
A view of a Walgreens store on March 06, 2025 in Mill Valley, California. Justin Sullivan | Getty ImagesWalgreens has agreed to pay $300 million to settle U.S. prosecutors’ allegations that it illegally filled millions of invalid prescriptions for opioids and other controlled substances, the U.S. Justice Department said on Monday.The money, plus 4% interest annually, will be paid out over six years under the terms of the agreement. Walgreens will also owe the U.S. an additional $50 million if the company is sold, merged, or transferred prior to fiscal year 2032, the Justice Department said.”We strongly disagree with the government’s…
Travelers walk past a sign pointing toward the Uber rideshare vehicle pickup area at Los Angeles International Airport (LAX) on February 8, 2023 in Los Angeles, California.Mario Tama | Getty ImagesThe Federal Trade Commission on Monday sued Uber, accusing the ride-hailing and delivery company of deceptive billing and cancellation practices tied to its subscription service.The agency claims Uber violated the FTC Act and the Restore Online Shoppers’ Confidence Act by providing misleading information about its Uber One subscription service, failing to provide a simple way for users to cancel their membership, and charging them without their consent. “Americans are tired of…
Inflation, recession and stagflation won’t be the only driving forces behind investment decisions if President Donald Trump attempts to remove Federal Reserve Chairman Jerome Powell from his perch atop the central bank before he is set to step down. If the president were to fire the Fed chairman, I’d be inclined to recommend investors sell U.S. assets and find somewhere safer to place their hard-earned money. In the past, there have been Federal Reserve chairs who weren’t reappointed to the post. There was a scenario in which G. William Miller, who briefly led the Fed during President Jimmy Carter’s tenure,…
