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Elon Musk has finally come out, politically. He used to vote for Democrats, but henceforth can only vote for Republicans. The Tesla CEO and President Biden ought to be natural allies. Biden has an ambitious green-energy agenda, including the mass electrification of automobiles. Musk leads the world’s most prominent electric vehicle company. They’re rowing in the same direction and ought to be in the same boat. Instead, they’re splashing each other like 12-year-olds. Biden has miffed Musk… Source link

Gasoline prices will stop rising once consumer demand destruction kicks in, according to one energy trader. “It’s become really evident that the only thing that is going to alleviate these price rises is demand destruction,” CIBC Private Wealth U.S senior energy trader Rebecca Babin told Yahoo Finance Live. Gasoline keeps hitting record highs as the national average now sits at $4.59 per gallon. Some states are seeing even higher numbers at the pump — $5 or even $6 per… Source link

MIAMI — The 2021-22 NBA Defensive Player of the Year has been fuming since Tuesday. Sidelined with a right foot sprain in Game 1 of the Eastern Conference finals, Marcus Smart was going to force his way into the lineup for Game 2 whether he was ready or not. “I couldn’t miss tonight,” Smart told Yahoo Sports after Game 2. “Couldn’t do it. I know Game 1 wasn’t us. I had to get out there.” Celtics players privately described Game 1 as being “punked out of a win,” sources said,… Source link

When legends speak, people listen – and few investors match the legendary status of Ray Dalio. The founder of Bridgewater Associates has built his firm from a 2-room apartment operation into the world’s largest hedge fund, with more than $150 billion in assets under management, and a net gain exceeding $46 billion. Dalio believes that the next two to four years will see our global economic and political systems change in ways that are unpredictable now. And the key to survival, for… Source link

Associated Press Ginni Thomas’ emails deepen her involvement in 2020 election Virginia “Ginni” Thomas, wife of Supreme Court Justice Clarence Thomas and a conservative political activist, urged Republican lawmakers in Arizona after the 2020 presidential election to choose their own slate of electors, arguing that results giving Joe Biden a victory in the state were marred by fraud. The revelations first published by The Washington Post on Friday show that Thomas was more involved than… Source link

U.S. stocks rose on Friday, though the major indexes still headed for steep weekly losses as concerns over the resilience of corporate profits in the face of inflation resurged this week. The S&P 500 advanced by about 0.8% just after the opening bell, following equities in Asia and Europe higher after China’s central bank unexpectedly cut a benchmark interest rate to offer some relief to borrowers in the country still grappling with a widespread COVID-19 outbreak. The Dow rose by more than 150… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, May 20, 2022 Today’s newsletter is by Myles Udland, senior markets editor at Yahoo Finance. Follow him on Twitter @MylesUdland and on LinkedIn. For the general public, the Federal Reserve can be an intimidating and arcane subject. Why, you might ask, does it really matter what a few economists in Washington, D.C. think the right level of… Source link

(Bloomberg) — Tesla Inc. has lost its crown jewel status in Cathie Wood’s main fund for the first time in about four-and-a-half years. Most Read from Bloomberg Elon Musk’s company had commanded the pole position by market value in the ARK Innovation ETF, an exchange-traded fund known as ARKK, on most days since at least 2017, according to data compiled by Bloomberg. That changed on Thursday, when electronics product maker Roku Inc., a firm with $13.2 billion of market value, pipped it to… Source link

SpaceX paid $250,000 to settle a sexual misconduct claim against Elon Musk after a flight attendant on the company’s corporate jet accused the CEO of exposing himself to her mid-flight, Insider reports. According to Insider, the incident happened in 2016 and the company settled with the unnamed flight attendant in 2018, according to a friend of the flight attendant who was told contemporaneously about the incident but is not bound by any non-disclosure agreements with the company. Musk… Source link

There was a moment, a brief moment, when Tiger Woods was one stroke off the lead in a major in 2022. It didn’t last. Through his first five holes Thursday morning in the PGA Championship at Southern Hills, Woods was 2-under par and looking strong and confident, not at all like he was still recovering from a February 2021 car wreck. Then the drives started drifting, the approaches started fluttering and the putts stopped falling, and Woods plummeted down the leaderboard to end the day at +4 in… Source link