President Donald Trump listens during a Cabinet meeting at the White House on Feb. 26, 2025.Andrew Harnik | Getty Images News | Getty ImagesThe Trump administration’s purge of federal staff may flood an unemployment benefits system ill-equipped to handle the deluge, triggering delays in aid for jobless workers, according to a new report.The terminations of federal workers by the Trump administration’s so-called Department of Government Efficiency — headed up by billionaire entrepreneur Elon Musk — may ultimately stretch into the hundreds of thousands. That would amount to the largest mass layoff in U.S. history.The scale of cuts would likely “overwhelm”…
Author: usaeverydaylife
Broadcom ‘s blowout first-quarter earnings seem to have assuaged analysts’ recent fears toward the battered AI trade. Rising market uncertainty and trade tensions have weighed down the semiconductor stocks as of late. AI poster child Nvidia is on pace to end the week 10% lower, and on Tuesday the tech-heavy Nasdaq Composite entered correction territory . These fears were stoked further on Thursday after chipmaker Marvell Technology issued revenue guidance that fell short of some elevated buyside expectations. But on Friday, Broadcom’s blockbuster earnings report seemed to have righted the ship. The semiconductor manufacturer popped 6% after posting first-quarter adjusted…
Investor sentiment has drastically changed in recent weeks as tariffs — or the threat of tariffs — have been introduced to the markets. Last month’s discussion of awakening animal spirits and multiple analysts racing to readjust their 2025 S & P 500 targets served as a warning, as the Cboe Volatility Index (VIX) crashed under 15. The Invesco QQQ Trust , which tracks the Nasdaq-100, and the S & P 500 have been dropping precipitously — even dipping under their 200 day moving averages for the first time in roughly 400 trading days. I believe now is the time to…
Hock Tan, CEO of Broadcom.Martin H. Simon | Bloomberg | Getty ImagesBroadcom shares climbed about 5% after the company posted strong first-quarter earnings and guidance that signaled ongoing artificial intelligence demand.The chipmaker posted adjusted earnings of $1.60 per share on $14.92 billion in revenue. That surpassed the adjusted earnings of $1.49 per share and $14.61 billion in revenue expected by analysts polled by LSEG. Revenues rose 25% from $11.96 billion a year ago.Bank of America analyst Vivek Arya called the results from Broadcom a “reassuring update from an AI leader” and a “positive read-across for AI sentiment.”Broadcom has benefitted from…
Ki’Lolo Westerlund knew she had a starring role in an NFL Flag 50 commercial promoting flag football that would air during Super Bowl LIX. She knew she’d be appearing alongside past and present NFL players such as Myles Garrett, Justin Jefferson and Marshawn Lynch. She just hadn’t seen it. It aired on millions of screens worldwide right after halftime, but the 17-year-old flag football star was actually at the game in New Orleans with her father.Westerlund was a standout receiver and defensive back at Liberty High School in Las Vegas. She also helped the U.S. Girls’ Junior National Team win…
The Syrian Observatory for Human Rights, a Britain-based monitoring group, has reported attacks on Alawite civilians, frequently by unknown gunmen. The country’s new rulers have pledged to bring all armed groups under the state’s control, but the security situation remains unstable, with some Syrians seeking vengeance.Who are the Assad loyalists taking up arms?There does not yet appear to be a single unifying force responsible for orchestrating the attacks on Syria’s western coast, and so far the violence is largely attributed to small-scale cells of Assad loyalists, according to the Institute for the Study of War, a Washington-based research group.The attacks…
Senator Richard Blumenthal, D-CT, speaks during a Senate Judiciary Committee hearing on the January 6th insurrection, in the Hart Senate Office Building on Capitol Hill in Washington, DC, March 2, 2021.Graeme Jennings | Pool via ReutersSen. Richard Blumenthal this week pressed Visa for detailed plans and documents related to its deal to provide payments services to Elon Musk’s social media site, X, as it prepares to launch a digital wallet.Blumenthal, a Democrat from Connecticut and the ranking member of the Senate’s Permanent Subcommittee on Investigations, pointed to Musk’s role in hobbling the Consumer Financial Protection Bureau — the consumer watchdog…
Women are overwhelmingly ambitious in their careers, and they see workplace flexibility as a pillar for helping them get ahead at work.A majority of women workers, 87%, say they’re ambitious in their careers, with roughly half, 48%, saying they’re “very ambitious,” according to CNBC’s annual SurveyMonkey Women at Work survey, which was fielded to over 18,800 U.S. workers between February 21 and March 3.But many worry the stigma of flexible arrangements could harm their career growth, and flexibility is harder to come by for those seeking new opportunities.Women value flexibility but worry it will hinder their careersWomen value a variety of…
U.S. Treasury Secretary Scott Bessent attends at an Economic Club of New York event in New York City, U.S., March 6, 2025. Jeenah Moon | ReutersTreasury Secretary Scott Bessent on Friday acknowledged some signs of weakness in the U.S. economy.”Could we be seeing that this economy that we inherited starting to roll a bit? Sure. And look, there’s going to be a natural adjustment as we move away from public spending to private spending,” Bessent said on CNBC’s “Squawk Box.””The market and the economy have just become hooked. We’ve become addicted to this government spending, and there’s going to be a…
Check out the companies making headlines before the bell. Broadcom — Shares of the chipmaker jumped 10% after the company’s fiscal first-quarter results beat Wall Street’s estimates on both the top and bottom lines. Broadcom also issued rosy guidance for the current quarter. The company forecasts second-quarter revenue of $14.9 billion, above the $14.76 billion expected from analysts polled by LSEG. Gap — Shares surged 17% after the apparel giant, which owns brands such as Old Navy and Banana Republic, posted a fiscal fourth-quarter beat . Gap reported earnings of 54 cents on revenue of $4.15 billion, exceeding the 37…
