Finance

A temporary tax plan could increase your standard deduction by up to $4,000 A House panel has passed a bill that would temporarily expand the standard tax deduction used by the majority of taxpayers by $2,000 per person for the next two years. The Working Families Tax Cuts Act (HR3936) recently approved by the Ways … Read more

Are your retirement savings goals on track? This is one of the thorniest financial questions for Americans. Along with the overall stock market and inflation, retirement savings have taken a hit over the past two years, with the S&P 500 down about 9% since the start of 2022. X It’s natural for you to wonder … Read more

This year has already been a lucrative one for those with savings in the bank, as interest rates on all types of deposit accounts have hit record highs over the past 15 months. Now it’s easy to earn over 5.00% with dozens of savings, money market and certificate of deposit (CD) accounts in our various … Read more

Text size An oil rig and pump in Stanton, Texas on June 8. Suzanne Cordeiro/AFP via Getty Images Oil prices fell again on Friday as downbeat economic news and higher interest rates in parts of the world spooked traders. West Texas Intermediate crude futures, the benchmark grade of oil in the United States, fell 1.4% … Read more

Text size SoFi shares were down in Friday trading. Justin Sullivan/Getty Images Sofi Technologies has been dubbed the future of U.S. banking, and while the stock’s year-to-date performance appears to reflect that distinction, one analyst isn’t so optimistic. This year the stock has soared 77%, spurred in large part by news that student loan repayments … Read more

The Supreme Court has ruled in favor of cryptocurrency trading platform Coinbase (COIN) in a class action dispute, in a decision that bolsters companies’ right to resolve disputes through arbitration rather than litigation. Coinbase shares rose about 4% after the decision. Key points to remember The Supreme Court has sided with Coinbase in a case … Read more

Market Update: HRL

CarMax (KMX) crushed earnings views for its fiscal first quarter on Friday as cost-control measures paid off. CarMax stock soared but online rival carvana (CVNA) dove. X CarMax Earnings The leading used-car retailer posted earnings of $1.44 per share on revenue of $7.687 billion for the quarter ended May 31. Year-over-year, CarMax’s profits fell nearly … Read more

For the third time in as many days, You’re here (TSLA) The stock was downgraded on Friday, as analysts expect lower consumer demand and increased competition in China to reduce Tesla’s value. The stock fell slightly on Friday after jumping around 2% on Thursday. X DZ Bank has twice downgraded Tesla stock to a sell … Read more

The Dow Jones Industrial Average briefly fell more than 250 points on Friday after key economic data, with major stock indexes eyeing a losing week as investors brace for future rate hikes from the Federal Reserve. Tesla stock was downgraded to be sold to DZ Bank. X On the economic front, S&P Global’s preliminary June … Read more