Americans were sitting on $815.3 billion worth of savings as of April. This may be good news for consumers individually, but bad news for the Federal Reserve, whose efforts to slow inflation could be delayed by this extra pile of cash lying around. “The problem is there is so much cash on household sector balance sheets and corporate sector balance sheets that it’s going to take more rate hikes to slow the economy down, simply because the starting point is a level of cash that is much higher… Source link
Read More »The crypto market has now lost $2 trillion in value. Here are 5 shocking facts from crypto’s Black Monday
Investors had nowhere to hide on Monday as both the stock market and cryptocurrencies tumbled. The rout followed yet another report of high inflation on Friday that has investors concerned the Federal Reserve will continue its aggressive interest rate hikes, thereby increasing the odds of a U.S. recession. The cryptocurrency market saw its total market cap drop by roughly 12% on Monday to just $980 billion. The sector as a whole has now seen more than $2 trillion in losses since its November… Source link
Read More »Google Cloud employee calculates pi to 100 trillion digits
Google Cloud developer advocate Emma Haruka Iwao has beaten her own record from three years ago for the number of digits calculated for pi. In 2019 she was able to calculate pi to its 31.4 trillionth digit, and now, using the same Google Cloud y-cruncher program Iwao was able to find pi to its 100 trillionth digit, which is zero. After starting the process in October 2021 it took the computers until March 2022 to finish. At 157 days, compared to 121 days spent figuring out a shorter… Source link
Read More »A $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest Eggs
(Bloomberg) — The world’s richest nation is waking up to an unpleasant and unfamiliar sensation: It’s getting poorer. Most Read from Bloomberg Americans’ collective net worth had been climbing at a dizzying rate for the past two years, even as families and businesses contended with the ravages of Covid-19. Households piled up an extra $38.5 trillion from early 2020 to the end of last year, bringing their collective net worth to a record $142 trillion, the Federal Reserve estimates. Just… Source link
Read More »Wells Fargo Sees a $1.5 Trillion Opportunity for Fintech Companies; These 2 Stocks Are Set to Benefit
The digital revolution has changed the world in just the last decade and a half, spawning new technologies, new ways of using technologies, and bringing old businesses into the 21st century. Nowhere is this more obvious than in the financial sector. Banking and financial services have benefited enormously from bringing tech into the mix – and their gains have given us a new word to describe it, fintech. 5-star analyst Jeff Cantwell, of Wells Fargo, lays out the upside case for fintech in no… Source link
Read More »Stock Traders Brace for a $3.5 Trillion ‘Triple Witching’ Event
(Bloomberg) — Wall Street traders are bracing for fresh equity-market fireworks Friday after another week of global turbulence. Most Read from Bloomberg In a quarterly event known as triple witching, roughly $3.5 trillion of single-stock and index-level options are set to expire, according to Goldman Sachs Group Inc. At the same time, more near-the-money options are maturing than at any time since 2019 — suggesting a bevy of investors will actively trade around those positions. And once… Source link
Read More »Why Russia-Ukraine crisis isn't stopping this $10 trillion asset manager from buying stocks – Yahoo Finance
A good buying opportunity into a stock market well off its highs has taken shape, argues BlackRock Investment Institute Global Chief Investment Strategist Wei Li and her team. The rationale: the escalating situation between Russia and the West will likely mean a slower pace of interest rate hikes from global central banks. “We see fast-rising energy prices exacerbating supply-driven inflation, both delaying and raising its peak. We think central banks will need to normalize policy to pre-Covid… Source link
Read More »Google could challenge for $2 trillion market cap after earnings, stock-split news
Google parent Alphabet Inc. headed toward a couple of elusive marks Tuesday evening, after disclosing earnings and plans for a stock split: A $3,000 share price and $2 trillion market cap. Alphabet shares gained more than 9% in the extended session, which ended with Alphabet’s class A shares GOOGL, +1.73% selling for $3,005 apiece and the class C shares GOOG, +1.61% going for $3,013.83. The class A shares have never… Source link
Read More »Biden’s $2 trillion spending bill will get done but ‘it’ll look different’: Cabinet official
The White House plans to restart negotiations on its $2 trillion spending bill, just days after pivoting to a long shot push for voting rights reform and two weeks after key moderate Sen. Joe Manchin (D-WV) abandoned talks on the spending measure, Reuters reported on Tuesday. In a new interview, U.S. Secretary of Commerce Gina Raimondo expressed certainty that the bill, known as Build Back Better, would succeed but acknowledged that the final version would “look different” from the expansive… Source link
Read More »Apple’s road to $4 trillion starts with its rumored headset and Apple car
This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe Wednesday, January 5, 2022 Apple will need to enter uncharted territory to reach $4 trillion Apple (AAPL) on Monday made history by becoming the first publicly traded company with a market cap of $3 trillion. It’s now seesawing back and forth between the mark for the thrill of it. It’s a… Source link
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