Unexpected Increase in Unemployment Claims Hits Highest Level in Three Months
Americans Filing for Unemployment Benefits Unexpectedly Tick Higher Last week, the number of Americans filing for unemployment benefits unexpectedly ticked higher, hitting the highest level in three months. According to the U.S. Labor Department, initial jobless claims rose to 211,000 last week, from 190,000 the week before.[0] It had been anticipated that there would only […]
Continue reading Mixed Market Performance as Investors Digest News and Fed Chairman Powell Hints at Faster Rate Hikes
On Thursday, the markets saw a mixed performance as investors digested a flurry of news. The Dow Jones Industrial Average (DJIA) dropped 0.2%, the S&P 500 (SPX) edged up 0.1%, and the Nasdaq Composite (COMP) gained 0.4%.[0] The small-cap Russell 2000 (RUT) eked out a fractional gain.[1] CrowdStrike Holdings (CRWD) jumped more than 6% in […]
Continue reading GM Offers Voluntary Separation Program to Reduce Costs and Achieve Savings
General Motors (GM) is offering a voluntary separation program to its employees in an effort to reduce costs and achieve $2 billion in savings by the end of 2024. The program, which GM is calling a Voluntary Separation Program (VSP), is available to all U.S. salaried employees with at least five years of service and […]
Continue reading Rising Debt Levels for Millennials in their 30s: A Look into the Causes and Impact
Millennials in their 30s are accruing debt faster than their peers and it is having a major impact on their finances. According to The Journal’s analysis, people who are 30 to 39 years old currently owe an estimated $3.8 trillion in debt, and the last time debt owed by 30-somethings grew this quickly was between […]
Continue reading GM Offers Buyouts to U.S. Salaried Workforce to Cut Costs
General Motors announced Thursday it will offer buyouts to a majority of its U.S. salaried workforce in an effort to save $2 billion by the end of next year.[0] All U.S. salaried employees with at least five years of service are eligible for one month pay for every year of service up to 12 months […]
Continue reading Instagram Experiences Outage: #InstagramDown Causes Meme Storm on Twitter
Instagram faced an outage on Thursday morning, leaving thousands of users unable to access the app. According to outage tracking website Downdetector, over 27,000 users reported issues with the photo-sharing platform.[0] In response to the incident, many users took to Twitter to confirm the extent of the issue, resulting in a flood of memes using […]
Continue reading PCAOB Issues Alert: Exercise Caution When Relying on “Proof of Reserve” Reports
The Public Company Accounting Oversight Board (PCAOB) has cautioned investors against relying on “proof of reserve” reports. The PCAOB’s newly established Office of the Investor Advocate has issued an alert warning investors of the inherent limitations of such reports and the need to exercise extreme caution when relying on them to conclude that there are […]
Continue reading Dutch Government Imposes Export Restrictions on ASML’s “Most Advanced” Microchips
In order to protect their national security, the Dutch government has declared that they will be limiting the export of their “most advanced” microchip technology, mirroring the steps taken by the US government. ASML, a major player in the international microchip supply line, will be subject to limitations.[0] China has lodged a formal grievance regarding […]
Continue reading Silvergate Bank Announces Wind Down and Liquidation Plan, Full Repayment of All Deposits
Silvergate Capital Corporation, a La Jolla-based financial establishment that focuses on cryptocurrency, announced Wednesday that it is winding down operations and voluntarily liquidating its bank.[0] All deposits will be fully repaid as part of the bank’s wind-down and liquidation plan. The company is considering the best path forward for resolving claims and preserving the residual […]
Continue reading U.S. Stocks Open Cautiously Higher Following Fed Chair Powell’s Remarks
U.S. stock index futures were trading modestly higher on Wednesday, March 8, after markets digested the latest hawkish comments from Fed Chair Powell the day before. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.05%, 0.06%, and 0.09%, respectively, at 5:00 a.m. EST.[0] On Wednesday, […]
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