Meme stocks are back. One day after an account associated with the phenomenon posted for the first time in years on the X social media platform, shares in companies that have been linked to speculative trading activity are soaring in value. Leading the way is video game retailer GameStop, whose shares have soared approximately 180% to $48.75 after closing at ...
Netflix will stream its first NFL games on Christmas Day. The streaming giant announced Wednesday that it will feature both Dec. 25 matchups scheduled for this year, with at least one other Christmas game coming in 2025 and 2026. “Last year, we decided to take a big bet on live — tapping into massive fandoms across comedy, reality TV, sports ...
The Dow Jones Industrial Average slipped on Monday, snapping an eight-day winning streak, as traders grappled with rising inflation expectations ahead of key reports due later in the week. The 30-stock Dow fell 81.33 points, or 0.21%, to close at 39,431.51. The S&P 500 inched lower by 0.02%, ending at 5,221.42. The Nasdaq Composite added 0.29%, closing at 16,388.24. A New York Federal Reserve survey showed consumers last ...
Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month, the company announced Tuesday. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Selipsky after he exits the company on June 3, Amazon said. In a memo to employees, Selipsky said he was leaving AWS after about 14 years to spend ...
Get ready for the next cable-like streaming bundle: Comcast later this month will launch a three-way bundle — with Peacock, Netflix and Apple TV+ — offered at a deep discount, Comcast chief Brian Roberts said. Dubbed StreamSaver, the bundle will be available to all Comcast broadband, TV and mobile customers, Roberts said, speaking Tuesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York. ...
When it comes to spending money in retirement, there’s one rule of thumb — the 4% rule — that has persisted for decades. The 4% withdrawal rule calls for retirees to withdraw that portion from their investment portfolio in the first year of retirement. In each subsequent year, the amount of those withdrawals is adjusted for inflation. Financial planner William Bengen first identified the ...
At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain’s long-term future. In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants’ equipment to be auctioned off. A web ...
Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period. Speaking to the annual general meeting of the Foreign Bankers’ Association in Amsterdam, the central bank leader noted that the rapid disinflation that happened in 2023 has slowed considerably this year and caused ...
Price growth in many key consumer categories has slowed considerably or ceased altogether — but that has done little to dent consumer worries as the costs of housing and other services have continued to climb. Among the broadest categories tracked by the consumer price index, or CPI, two of the ones most acutely felt by consumers — food and energy ...
The interest rate on many new federal student loans is set to rise to its highest level in more than a decade next year as lenders throughout the economy seek higher returns for borrowing money. On Tuesday, the U.S. Department of Education said in a notice on its website that the rate for undergrads would rise to 6.53% from 5.5%. ...