President Donald Trump’s One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production.The House of Representatives passed Trump’s megabill Thursday ahead of a White House-imposed deadline, after the Senate narrowly approved the controversial legislation Tuesday.Trump has made his priorities on energy production clear. The U.S. will rely on oil, gas, coal and nuclear to meet its growing energy needs, the president said last weekend, bashing wind and solar power.”I don’t want windmills destroying our place,” Trump told Fox News in an interview that aired June…
Author: usaeverydaylife
Speaker of the House Mike Johnson, R-La., speaks to reporters as he walks back to his office as the House of Representatives waits to vote on President Trump’s “big beautiful bill” reconciliation package on July 3, 2025.Bill Clark | CQ-Roll Call, Inc. | Getty ImagesA massive package of tax cuts championed by President Trump and awaiting a final vote in the House would be a windfall for the wealthiest U.S. households. But the size of that financial benefit depends largely on where high-income taxpayers live, according to a new analysis by the Institute on Taxation and Economic Policy.The legislation would…
Two top chartists were weighing in on Apple this week. Carter Worth of Worth Charting and Katie Stockton of Fairlead Strategies believe Apple is in for a significant run. “We see a short-term trade with upside,” said Worth on CNBC’s “Fast Money” this week. He thinks the stock is likely to go up about 8% from where the stock is currently trading. Worth was right on the money back in the summer of 2022 when he said “sell it all” in a controversial call on Apple. The stock fell shortly after. AAPL .GSPT mountain 2022-08-01 Apple has been greatly outperformed by…
Short and sweet: That was this week’s stock market in a nutshell. The second half of the year kicked off in record style, with both the S & P 500 and the Nasdaq closing at multiple all-time highs, including in Thursday’s holiday-shortened session. The U.S. stock market is closed on Friday for the Fourth of July. Extending its stunning comeback from its April sell-off, Club stock Nvidia broke all kinds of records this week as its market value topped $3.9 trillion on Thursday. It ended the day up 1.3% at $159.34 a share, good for a $3.89 trillion market cap.…
Nvidia CEO Jensen Huang in Taipei, Taiwan, on June 2, 2024.Ann Wang | ReutersNvidia’s Blackwell Ultra chips, the company’s next-generation graphics processor for artificial intelligence, have been commercially deployed at CoreWeave, the companies announced on Thursday.CoreWeave has received shipments of Dell-built shipments based around Nvidia’s GB300 NVL72 AI systems, Dell said on Thursday. It’s the first cloud provider to install systems based around Blackwell Ultra.The Blackwell Ultra is Nvidia’s latest chip, expected to ship in volume during the rest of the year. The systems that CoreWeave is installing are liquid-cooled and include 72 Blackwell Ultra GPUs and 36 Nvidia Grace…
Uncle Sam can take a solid bite out of retirees’ savings once they begin drawing down their hard-earned dollars, and UBS has a way to mitigate the tax bite. Investors may be familiar with portfolio diversification, in which they ensure they have sufficient exposure to an array of asset classes to avoid concentration risk. But there’s also the matter of tax diversification: That is, ensuring that you’re putting money away in accounts with different tax treatments so as to mitigate taxes when you start drawing down assets. These accounts can be taxable, tax-deferred (like your 401(k) plan or your traditional…
The stock market appears set to continue its rally in the second half of 2025 and into 2026 after its recent rebound, according to CFRA. The firm, whose chief investment strategist is Sam Stovall, raised its 12-month target S & P 500 to 6,850. That is about 9% above where the index was trading on Thursday. CFRA’s year-end target is 6,525, implying a roughly 4% gain over the next six months. “We are encouraged by the recent recovery from the near-19% correction and the typical post-correction gain averaging 10% since WWII. Also, in early October, the S & P 500…
Jeremy Allaire, CEO and co-founder of Circle Internet Group, the issuer of one of the world’s biggest stablecoins, and Circle Internet Group co-founder Sean Neville react as they ring the opening bell, on the day of the company’s IPO, in New York City, U.S., June 5, 2025. NYSEFor over three years, venture capital firms have been waiting for this moment.Tech IPOs came to a virtual standstill in early 2022 due to soaring inflation and rising interest rates, while big acquisitions were mostly off the table as increased regulatory scrutiny in the U.S. and Europe turned away potential buyers.Though it’s too…
The S & P 500 is trading back at record highs, marking one of the sharpest comebacks in history, with the benchmark soaring more than 25% from its April 8 post- “liberation day” lows. For context, I’ve indicated the most recent period with a yellow arrow in a distribution of SPX returns since 1927. But the rising market has not helped all constituents return to their prior highs. For example, Delta Air Lines , which reports its quarterly earnings results next week, is still more than 25% below the February highs. Has the underperformance off the April lows led Delta…
Legislative Hall, the Delaware State Capitol, in Dover, DelawareAimintang | Istock | Getty ImagesState and local government job growth powered the U.S. labor market’s expansion in June.Government jobs saw the largest month-over-month sector growth at 73,000, according to data from the federal Bureau of Labor Statistics released Thursday. That means government jobs accounted for about half of the 147,000 total nonfarm payroll growth in June.”Government at the state and local levels did much of the hiring in June,” said Mark Hamrick, senior economic analyst at Bankrate. That helped “the total payrolls number to top expectations,” he said.State government payrolls grew…
