Elon Musk’s Tesla delivered a painful blow to short sellers in 2023, causing combined losses of $12.2 billion, surpassing losses on any other company. Tesla’s shares doubled in value throughout the year, leaving short sellers scrambling. Here’s a closer look at the impact. Tesla’s Soaring Valuation Stuns Short Sellers Unprecedented Gains Dent Short Seller Confidence…
A Remarkable Year-End Job Surge As the final chapter of 2023 unfolded, the US labor market delivered a resounding message of strength and resilience, defying earlier predictions of an economic downturn. The Bureau of Labor Statistics’ report for December revealed the addition of 216,000 jobs, surpassing expectations and underscoring the labor market’s surprising vitality. [su_button…
A Bumpy Start to the Year As the new year unfolds, the stock market is experiencing a rocky start, diverging from the spectacular rally that marked the end of 2023. Investors find themselves grappling with a shift from the euphoria of a monster rally to a period of consolidation. This article delves into the factors…
A Bleak Milestone Amidst Fiscal Tensions As the US government’s debt surpasses $34 trillion for the first time, concerns loom over the nation’s economic resilience. Published data from the Treasury Department reveals that the “total public debt outstanding” hit this record figure on December 29. This milestone amplifies worries as Congress faces impending deadlines to…
A Bumpy Start to the Year for Apple As the first trading day of the year unfolded, Apple Inc. experienced a significant setback, causing ripples across the broader US stock market. The tech giant’s shares plummeted by 3.6% after Barclays downgraded its stock to “underweight” from “equal weight.” This move was prompted by lackluster sales…
A New Year, a New Pay Scale As 2024 unfolds, minimum wage workers in various parts of the United States are in for a positive change. Across 22 states and over 40 cities and counties, hourly rates are set to increase, bringing much-needed relief to those on the lowest rung of the income ladder. This…
As we step into 2024, the echoes of economic challenges from the previous year still linger. The anticipation of a recession in 2023, hinted at by factors like rising inflation and market downturns, ultimately did not materialize. However, as economic analysts delve into the current landscape, the specter of a recession in 2024 looms on…
Market Resilience Amidst Rate Fears Wall Street defied 2023 predictions with a stellar performance, achieving record highs despite looming concerns about elevated interest rates. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite each showcased remarkable gains, experiencing double-digit increases. This marked a stark contrast to the market’s struggles in 2022, where the S&P…
The excitement is reaching a fever pitch as the Powerball jackpot climbs to an astounding $700 million, setting the stage for an eagerly awaited drawing on Wednesday at 10:59 p.m. ET. This substantial increase is fueled by robust ticket sales, prompting officials to boost the jackpot by an additional $15 million. The lump-sum option for…
The AI Resurgence In the ever-evolving landscape of technology, 2023 stood out as the year of artificial intelligence (AI), with Microsoft at the forefront of this transformative wave. Satya Nadella, Microsoft’s CEO, led the charge with a multi-billion dollar investment in AI, marking a significant departure from the company’s Windows-centric success. Nadella’s strategic decisions propelled…