‘We averted an economic crisis’: Biden hails debt-ceiling deal in Oval Office address

‘We averted an economic crisis’: Biden hails debt-ceiling deal in Oval Office address

President Joe Biden on Friday hailed passage of a bipartisan deal to raise the U.S. debt limit and avoid a government default, addressing the nation from the Oval Office. “No one got everything they wanted, but the American people got what they needed,” the president said. “We averted an economic crisis and economic collapse.” Biden…

Senate passes debt-ceiling bill in 63-36 vote, sending it to Biden to get signed into law

Senate passes debt-ceiling bill in 63-36 vote, sending it to Biden to get signed into law

The U.S. Senate voted 63-36 in favor of a crucial debt-ceiling bill on Thursday night, sending the measure to President Joe Biden to be signed into law. The Fiscal Responsibility Act, which the Republican-run House of Representatives approved on Wednesday night in a 314-117 vote, raises the ceiling for federal borrowing and avoids a market-shaking…

Opinion: America’s latest pullback from the debt-ceiling cliff won’t be its last

Opinion: America’s latest pullback from the debt-ceiling cliff won’t be its last

With Congress raising the debt-ceiling and both sides of the aisle grumbling about the outcome, the debate over the mechanics of paying for the U.S. government’s obligations and the close call with default now fades back into obscurity. Until the next time. Assuming Congress won’t do away with the debt ceiling and push all spending…

Americans expect inflation to stay painfully high. That’s good news for stocks.

Americans expect inflation to stay painfully high. That’s good news for stocks.

Headline inflation may have come down over the past year, but consumers’ expectations about future inflation have not. In fact, five-year expected inflation has been inching up rather than down in recent months, according to the University of Michigan consumer survey. The median expectation is that inflation will run at a 3.1% annualized pace over…

House passes debt-ceiling bill in 314-117 vote, sending it over to Senate

House passes debt-ceiling bill in 314-117 vote, sending it over to Senate

The U.S. House of Representatives voted 314-117 in favor of a crucial debt-ceiling bill on Wednesday night, keeping Washington on track to meet the Treasury Department’s Monday deadline. There were 149 Republicans and 165 Democrats voting for the measure, while 71 Republicans and 46 Democrats voted against it. Those tallies show the extent…

Debt-ceiling deal: Here’s what’s next as it passes key hurdle in Congress

Debt-ceiling deal: Here’s what’s next as it passes key hurdle in Congress

While President Joe Biden and House Speaker Kevin McCarthy reached a debt-ceiling deal over the holiday weekend, that doesn’t mean it’s now all smooth sailing. Congress still must give its OK, starting with the Republican-run House of Representatives. Here’s what’s next, as the Treasury Department has called for action by this coming Monday in order…

”Hate on Igbos”: You had better start investing time educating people rather than pandering to the mob who are still babies in Nigeria politics

”Hate on Igbos”: You had better start investing time educating people rather than pandering to the mob who are still babies in Nigeria politics

Comedian Seyi Law has replied Big Brother Naija star, Pere who countered him on claim of Igbos propagating hate and not having respect for hierarchy or authority.    Pere who had earlier spoken up against the ‘’hate Igbos are subjected to in Nigeria,” pointed out that his initial tweet iis easily understandable. He also asked…

Opinion: Why Alphabet is a better bet than Meta Platforms if you’re investing in AI

Opinion: Why Alphabet is a better bet than Meta Platforms if you’re investing in AI

With shares more than doubling this year, Meta Platforms META, +0.18% seems to be a stock that just won’t quit. But given the choice, investors may want to consider digital-advertising competitor Alphabet GOOGL, -0.75% GOOG, -0.63% instead. Sure, Facebook parent Meta Platforms topped earnings expectations and posted bullish guidance. Yet just after celebrating those results, investors…

I’m drowning in debt: Why can’t I be on somebody’s list giving money away?

I’m drowning in debt: Why can’t I be on somebody’s list giving money away?

Got a question about the mechanics of investing, how it fits into your overall financial plan and what strategies can help you make the most out of your money? You can write to me at [email protected].   I recently read the article you wrote about a person who had $5 million+ and couldn’t figure out how…

Nvidia and Best Buy suggested a pandemic-era tech bottleneck is ending. Now we see for sure

Nvidia and Best Buy suggested a pandemic-era tech bottleneck is ending. Now we see for sure

Best Buy Co. BBY, +4.28% Chief Executive Corie Barry said last week she expected the downtrend in tech-product demand to bottom out soon, with a rebound in the second half of the year. Executives for chip maker Nvidia Corp. NVDA, +2.54% said their logjam of products that could not find buyers after a pandemic surge…

Opinion: How NFL star Austin Ekeler brings his ‘A’ game to personal finance

Opinion: How NFL star Austin Ekeler brings his ‘A’ game to personal finance

I think about money through the same lens that I think about everything else. It starts with hard work, discipline, and applying yourself in whatever you choose to do so that you are able to build value in yourself and in what you bring to an organization. That value in turn creates opportunities personally and…

Stock, bonds, or cash? Here’s investors’ best playbook for the debt ceiling, Fed policy and recession risks

Stock, bonds, or cash? Here’s investors’ best playbook for the debt ceiling, Fed policy and recession risks

The bond market hasn’t been this popular for over a decade. For almost 15 years after the financial crisis of 2008, bond yields remained low and the U.S. stock market was much more appealing. That’s no longer the case. Treasury bills TMUBMUSD01Y, 5.246%, which are arguably the safest debt, are now offering yields well above…

McCarthy deputies say debt-ceiling talks are ‘up and down,’ and ‘major issues’ persist

McCarthy deputies say debt-ceiling talks are ‘up and down,’ and ‘major issues’ persist

Debt-ceiling talks are “up and down,” Republican Rep. Patrick McHenry of North Carolina, a key deputy for House Speaker Kevin McCarthy, told reporters on Friday. “We are in the middle of a lot of different conversations and a lot of different paper coming back and forth, and as I said, the details are thornier, the…

Opinion: Memorial Day weekend is a traveler’s nightmare but a dream for travel stocks

Opinion: Memorial Day weekend is a traveler’s nightmare but a dream for travel stocks

If the jam-packed Memorial Day travel conditions have you thinking there must be an investment play in all the chaos, you are right. Post-pandemic wanderlust is real. It is only going to pick up from here. And the trend is not yet fully priced in to travel-related stocks. Here’s more detail on three key business…

Here’s what’s in the emerging debt-ceiling deal — such as a cut to the IRS

Here’s what’s in the emerging debt-ceiling deal — such as a cut to the IRS

President Joe Biden’s team and House Speaker Kevin McCarthy’s deputies are nearing a deal that would raise the U.S. debt ceiling and avoid a market-shaking default, though getting it through Congress quickly could prove tricky.  McCarthy has said he’ll follow a rule to post any bill for 72 hours before votes, so that could mean…

The other ‘building block’ stocks, apart from Nvidia, that AI will drive higher.

The other ‘building block’ stocks, apart from Nvidia, that AI will drive higher.

Kneel to your king Wall Street. After forecasting record revenue backed by a “killer AI app,” Nvidia helped deliver a powerful performance for the Nasdaq COMP, +1.71% on Thursday. Indeed, thanks to that chip maker and a few other generals — Microsoft, Apple, Alphabet, etc.— tech is seemingly unstoppable: Top contributors to S&P 500 year-to-date…

Nvidia’s market cap gain is bigger than all of Disney, Netflix, Boeing or Nike

Nvidia’s market cap gain is bigger than all of Disney, Netflix, Boeing or Nike

On Thursday, Nvidia’s stock took an epic jump among the nation’s corporate giants. In one day, the graphics-chip maker total market capitalization added nearly $184 billion – that’s billion with a b. It is one of the biggest one-day market capitalization gains in American corporate history.  Nvidia’s market capitalization was $754.3 billion at the stock…

Opinion: Look at Social Security’s trust fund: In the debt-ceiling farce, the joke’s on us

Opinion: Look at Social Security’s trust fund: In the debt-ceiling farce, the joke’s on us

Congress and President Biden are currently pretending to debate whether or not to raise the so-called debt ceiling from its current legal level, which is $31.4 trillion. “Pretending?” Yep. To hear both sides talking, you’d think this was some kind of debate about whether to raise the U.S. national debt above…er…“$31.4 trillion.” Cue laughter. U.S….