Luis Alvarez | Digitalvision | Getty ImagesStudent loan forgiveness may be taxable againThe American Rescue Plan Act of 2021 made student loan forgiveness tax-free at the federal level through the end of 2025. Trump’s “big beautiful bill,” while making other specific kinds of student loan relief tax-free, did not extend or make permanent that broader provision. In theory, lawmakers could move to protect the relief from taxes before the end of the year, but borrowers shouldn’t count on it, experts say.”Republicans do not like [student loan] forgiveness, and are unlikely to make it tax-free,” said higher education expert Mark Kantrowitz.Without action from Congress, student loan…
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Ups and Downs by KAWS, estimated£30000-£50000, on display during a preview at the Phillips showroom in central London, ahead of their forthcoming Evening and Day Editions auction. Picture date: Friday January 17, 2025. (Photo by Ian West/PA Images via Getty Images)Ian West – Pa Images | Pa Images | Getty ImagesA version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Auction sales have been declining for the third year in a row, as dealers, auctioneers and collectors ponder a…
Ursula von der Leyen (CDU), President of the European Commission, stands in the European Parliament building and speaks.Picture Alliance | Picture Alliance | Getty ImagesEuropean Commission President Ursula von der Leyen will meet with U.S. President Donald Trump in Scotland over the weekend, seeking to reach a framework trade agreement shortly before a 30% tariff on EU imports comes into effect. In a post on social media platform X on Friday, the EU’s von der Leyen said she had agreed to meet with the U.S. president on Sunday “to discuss transatlantic trade relations, and how we can keep them strong.”Trump…
President Donald Trump on Friday expressed confidence the Federal Reserve will start lowering interest rates, a day after he met with central bank Chair Jerome Powell.The president indicated the meeting took a positive tone and believes the Fed is ready to provide the monetary policy easing he has been seeking for months.”I think we had a very good meeting on interest rates. And [Powell] said to me … very strongly, the country is doing well,” Trump told reporters. “I got that to mean that I think he’s going to start recommending lower rates.”Powell and his fellow policymakers have been reluctant…
The 19-story façade of the Louis Vuitton luxury store stands wrapped in a design reminiscent of their monogrammed trunks in Manhattan, New York City. Spencer Platt | Getty Images News | Getty ImagesHigh-end spenders are painting a mixed picture when it comes to the luxury market’s long-awaited recovery, with softer sales still weighing on company forecasts. But better-than-feared results from bellwether fashion house LVMH moved luxury stocks higher Friday, as investors bet on the emergence of green shoots of recovery.LVMH posted a 4% year-on-year drop in second quarter sales to 19.5 billion euros after the market close Thursday, slightly below…
Living in The Golden State is not cheap.It’s “impossibly unaffordable” to buy a home in four major California metropolitan areas — San Jose, Los Angeles, San Francisco, and San Diego — according to a May study by the Chapman University Center for Demographics and Policy. The study compared the median home price to median incomes of 95 housing markets in the third quarter of 2024.The Honolulu area, where the median home price is 10 times the median income, also made the top 10 list of unaffordable housing markets.Of the markets analyzed, 12 were classified as “impossibly unaffordable,” and not a…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are closing out the week in record territory thanks to five straight positive sessions for the S & P 500 . There are no major headlines driving the market other than President Donald Trump teasing more trade deals ahead of the Aug. 1 deadline for higher tariffs kicking in and perhaps some relief around the “more cordial than expected” tour of the Federal Reserve construction project with Jerome Powell on…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, bitcoin slips to end the week and also experiences its first back-to-back weekly loss since early June. And, Markus Thielen, the CEO of 10x Research, breaks down what factors are weighing on bitcoin’s price.10:12Fri, Jul 25 20253:00 PM EDT Source link
The ‘Fast Money’ traders talk market reaction to upcoming Fed meeting and impending tariff deadline. Source link
Next week could be a game changer for Wall Street, CNBC’s Jim Cramer said. He told investors to pay attention to a slew of market-moving events, including the Federal Reserve’s meeting, the latest nonfarm payroll report and earnings tech titans Apple, Amazon, Meta and Microsoft.”Next week, no hyperbole, is pivotal. It’s significant. I’m willing to make it a free-fire zone of superlatives,” he said. “In short, next week determines the market’s direction for the duration. Or at least the rest of the summer.”On Monday, Cramer said he’ll be paying attention to earnings from Celestica and Whirlpool. Cramer said electronics manufacturer…
