The week started off on a positive note for U.S. stocks, with the S & P 500 rebounding from a recent downturn. This followed a seven-day win streak being broken as investors shifted their focus from Big Tech names to smaller-cap stocks. Nvidia, a Club holding, experienced a 5% drop but managed to recover with
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SpaceX, the renowned space exploration company founded by Elon Musk, faced a rare mishap with its Falcon 9 rocket during the “Starlink Group 9-3” mission. The rocket, which launched from California’s Vandenberg Space Force Base, was carrying 20 satellites intended for low Earth orbit. The incident involved the failure of the rocket’s upper second stage
The dynamics of wealth transfer are set to undergo a significant transformation in the coming years, with an estimated $84 trillion being passed down from aging baby boomers and older generations to their heirs. This phenomenon, dubbed the “horizontal wealth transfer,” is expected to reallocate up to $9 trillion among spouses and partners, reshaping the
Citigroup surprised investors on Friday with its second-quarter results, surpassing expectations for both profit and revenue. The bank reported earnings of $1.52 per share, higher than the $1.39 per share that was expected. Additionally, Citigroup’s revenue came in at $20.14 billion, slightly beating the expected $20.07 billion. The bank saw a 10% increase in net
In a recent statement regarding JPMorgan Chase’s second-quarter results, CEO Jamie Dimon issued a stark warning about the looming threat of inflation. Despite some recent signs of easing in price pressures, Dimon highlighted the persistent inflationary forces that continue to plague the economy. He pointed to factors such as large fiscal deficits, infrastructure needs, trade
The upcoming wedding of Mukesh Ambani’s youngest son is set to be a three-day extravaganza filled with opulence and luxury. The groom, Anant Ambani, is set to marry Radhika Merchant, the daughter of Viren Merchant, in a traditional Hindu ceremony at the Jio World Convention Centre in Mumbai. The guest list includes a mix of
China’s upcoming Third Plenum is expected to address a multitude of economic challenges facing the country. While the real estate sector’s issues loom large, analysts predict that the focus of the meeting will shift towards areas such as high local government debt levels and the promotion of advanced manufacturing. This critical policy meeting, set to
China’s import data for June fell short of expectations, with a 2.3% decrease from a year ago in U.S. dollar terms. This was in contrast to the forecast of a 2.8% growth, according to a Reuters poll. The lackluster performance in imports reflects the ongoing challenges in the global economy, as well as the impact
The upcoming Summer Olympics in Paris this year have brought excitement for thousands of athletes but disappointment for Delta Air Lines. The airline has reported a significant drop in travelers booking trips to Paris this summer, leading to a projected $100 million loss in revenue. CEO Ed Bastian expressed his concerns about the lack of
The dream of homeownership is becoming increasingly challenging for Gen Zers, with 22% of them citing a lack of affordable starter homes as a barrier. To address this issue, many are turning to fixer-upper homes, which offer an opportunity for savings but also come with potential risks and regrets. The Allure of Fixer-Upper Homes A