Business
Cramer’s week ahead: Markets will do ‘much better’ during the next four weeks
Stocks rose on Friday but ended the turbulent week down. Source
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Taylor Swift slams ‘outside entity’ over ticket fiasco: ‘I’m not going to make excuses for anyone’
Taylor Swift performs onstage during iHeartRadio’s Z100 Jingle Ball 2019 Presented By Capital One on December 13, 2019 in New York City. Kevin Mazur | Getty Images Taylor Swift responded to her fans Friday after Live Nation‘s Ticketmaster said a general public sale of tickets to the superstar’s “Eras” tour would be canceled because there […]
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Buyers need a six-figure income to afford a ‘typical’ home, report finds. Here’s how to reduce the cost
It’s no secret that it’s a tough market for prospective home buyers. In October, U.S. buyers needed to earn $107,281 to afford the median monthly mortgage payment of $2,682 for a “typical home,” Redfin reported this week. That’s 45.6% higher than the $73,668 yearly income needed to cover the median mortgage payment 12 months ago, […]
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This week’s best performers include several retail stocks and one exchange operator
It hasn’t been the best week for the broader market. The S & P 500 is down about 1% week to date, as investors weighed fresh commentary from Federal Reserve officials on inflation and monetary policy, which heightened concerns of even higher interest rates. Several retail stocks bucked the overall market trend, however, on the […]
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Carvana to lay off 1,500 employees following stock freefall
A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Carvana plans to lay off about 1,500 people, or 8% of its workforce, following a freefall in the company’s stock this year and concerns around its long-term trajectory, according to an internal message first obtained by CNBC’s […]
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Erie County hit with 3 feet of snow as Buffalo braces for ‘historic’ winter storm
A person walks through downtown in the snow Friday, Nov. 18, 2022, in Buffalo, N.Y. Joshua Bessex | AP Residents of Buffalo and other parts of New York state woke up Friday morning to heavy snowfall that officials warn could “paralyze” the hardest-hit communities. As of Friday morning, Erie County, home to Buffalo, has seen three feet […]
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Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers
A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines. Sales of previously owned homes dropped 5.9% from September to […]
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Wall Street is skeptical of GM’s ambitious EV plans
DETROIT – Wall Street is skeptical of General Motors’ plans to produce profitable electric vehicles years ahead of schedule and substantially bring down battery costs amid supply chain problems and broader economic concerns. Following an in-depth investor event Thursday afternoon in New York that outlined its short-term financials and growth plans for EVs – something […]
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Trump’s former Treasury secretary calls G-7 Russian oil price cap ‘the most ridiculous idea I’ve ever heard’
Former US secretary of the treasury Steven Mnuchin on a panel at the Future Investment Initiative in Saudi Arabia in October 2022. Mnuchin this week criticized the G-7’s plan for a cap on Fayez Nureldine | Afp | Getty Images Former U.S. Treasury Secretary Steve Mnuchin described the G-7’s plan for a price cap on […]
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Bank of America downgrades Coinbase, says FTX collapse raises ‘contagion risk’ for crypto platform
Bank of America says the collapse of FTX is clouding the outlook for Coinbase . Analyst Jason Kupferberg downgraded shares of Coinbase to neutral from buy, citing “contagion risk” for the cryptocurrency exchange platform, even if it is not “another FTX.” “We think Coinbase (COIN) likely faces a number of new headwinds over the near/medium-term […]
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