Markets
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U.S. billionaires have grown nearly one-third richer during the pandemic, while a ‘permanent underclass’ struggles, Oxfam says
Wealth inequality in the United States is “more extreme and dangerous than income inequality” and could be alleviated by a federal wealth tax, a new report says. The nation’s billionaires are almost a third richer than they were at the beginning of the COVID-19 pandemic in 2020, according to new calculations by the global charity…
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‘I am watching my inheritance evaporate’: My brother and sister constantly hit our parents up for money. What can I do to stop this?
I am 46 and single. I have a good job and own my own home but live modestly. I have been fortunate not to have had to ask my parents for anything over the years. My brother and sister, by contrast, have done so, and often. My parents are comfortable, but not wealthy. My brother…
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Head of world’s largest asset manager says this is why Fed will struggle to bring down inflation
“‘I believe interest rates are going to be higher for longer…I believe inflation is going to be stickier for longer. In other words I think we’re going to have a 4%-ish floor on inflation.’” — Larry Fink, BlackRock Inc. That’s BlackRock Inc. BLK, +3.07% Chairman and CEO Larry Fink arguing that global “fragmentation” and reshoring…
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‘Get out of your own head’: How to reinvent yourself in retirement
As I see it, unretirement—when you work part time in retirement after leaving a full-time job, as I’m doing—is a period of reinvention. That can be a little uncomfortable, even scary. In her new book, “Next! The Power of Reinvention in Life and Work,” Joanne Lipman has some useful ideas on how to do it.…
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Most Americans aren’t banking on Social Security
Most Americans don’t feel they can depend on Social Security for retirement income and worry about their long-term financial stability, according to a new study from Allianz Life Insurance Company of North America. Nearly three in four (74%) say they can’t count on Social Security benefits when planning retirement income. As a result, 88% believe…
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Orange-juice futures are near a record. Sugar is at an 11-year high. And coffee is peaking too. What’s going on?
[]Some commodities that are grown rather than mined, known as “softs” to traders, have rallied so far this year, with sugar prices this week trading at their highest price in 11 years and orange-juice futures touching their highest prices on record. []“Most of the softs sector fall under the category of ‘weather derivatives’,” as weather…
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UnitedHealth’s stock reverses lower amid concerns over changes to Medicare Advantage rates
Shares of UnitedHealth Group Inc. slumped Friday, reversing an earlier gain, after the health insurer reported earnings that beat expectations and raised its full-year outlook but expressed concern over the “unintended consequences” of changes to Medicare Advantage rates. The stock UNH, -2.74% dropped 2.5% in afternoon trading to pull back from a three-and-a-half-month closing high…
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Oil prices finish higher as IEA warns that OPEC+ cuts will leave market with bigger deficit sooner than expected
Oil futures finished higher on Friday and logged a fourth straight weekly gain after the International Energy Agency warned that OPEC+ production cuts would leave the crude market with a larger and earlier deficit this year than previously expected. Worries about high inflation and its impact on energy demand have also eased, analysts said. Price…
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Peak euphoria hits this sector ?
Here are our top investing ideas today – these setups look primed! Be the best prepared trader on the Street! IDAI – Momentum continues, closes up 45% yesterday CXAI – Trades up over 250% in pre-market on no news as overnight shorts are blown up SAI – Another stock ending in AI up over…
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‘Dangerous times’: These aerospace and defense, cybersecurity ETFs are on ‘verge of breakouts’
[]Heightened geopolitical tensions and cybersecurity concerns may be propelling exchange-traded funds that invest in stocks linked to those areas toward potential “breakouts,” according to Renaissance Macro Research. []Shares of the First Trust Nasdaq Cybersecurity ETF CIBR, -0.61% have jumped 9.5% this year through Thursday, while the iShares U.S. Aerospace & Defense ETF ITA, -1.67% climbed…
