U.S. consumer credit picks up in May
Total consumer credit rose $11.3 billion in May, up from a $6.5 billion gain in the prior month, the Federal Reserve said Monday. Source link...
MARKET
‘I’ve always been the responsible one’: My mother wants to leave her entire estate to me — so I can take care of my younger brother. Is this foolish?
“What are the tax and financial implications of receiving an estate and then passing on a large percentage of it to someone else?” Source link...
The stock market’s breadth may have already peaked. Here’s why a 20% drawdown could follow.
A few large-cap tech companies continue to drive up the S&P 500, and one strategist believes a significant drawdown for U.S. stocks could be on the way. Source link...
Biden slams Trump for proposing ‘national sales tax’ as he fights for political future
Biden labeled Trump’s plan to institute a universal 10% tariff on imported goods to the U.S. a “national sales tax,” that would cost Americans $2,500 per year. Source link...
HilleVax’s stock craters after biotech says it’s scrapping a norovirus vaccine for infants after a failed trial
HilleVax Inc.’s stock cratered 89% early Monday, after the biotech said it would discontinue development of a vaccine against norovirus for infants after a trial missed its main goals. Source link...
S&P 500 rally is ‘unusually strong’ in 2024. Here’s why stocks may keep rising.
The U.S. stock market’s rally is facing a test that begins this week with company earnings. Source link...
Oil prices move lower as Israel-Hamas cease-fire talks ease supply worries
Oil futures moved lower Monday, slipping after Hamas over the weekend gave its initial approval of a U.S.-backed proposal for a phased cease-fire deal with Israel in Gaza. Source link...
Why Nvidia’s stock can scale the ‘wall of worry,’ according to UBS
Nvidia’s stock is staging a sharp rally on an upbeat day for the chip sector. Source link...
JPMorgan downgraded on valuation, while Bank of America shines as top pick: analyst
Wolfe Research cuts JPMorgan to peer perform and highlights Bank of America as an outperforming stock. Source link...
ServiceNow’s stock gets its only ‘sell’ call. Here’s what’s driving it.
Guggenheim says the monetization of generative AI “is not happening en masse and is not likely to materialize this year.” Source link...
