Keith Gill, a Reddit user credited with inspiring GameStop's rally, during a YouTube livestream arranged on a laptop at the New York Stock Exchange on June 7, 2024.Michael Nagle | Bloomberg | Getty ImagesGameStop shares fell about 12% on Monday as the meme stock extended Friday's sell-off sparked by a dismal...
Year: 2024
Home equity is near a record high. Tapping it may be tricky due to high interest rates
Cultura Rm Exclusive/twinpix | Image Source | Getty ImagesHome equity is near all-time highs. But tapping it may be tough due to high interest rates, according to financial advisors.Total home equity for U.S. mortgage holders rose to more than $17 trillion in the first quarter of 2024, just shy of...
The U.S. added 600,000 new millionaires last year as AI fueled markets
B2m Productions | Digitalvision | Getty ImagesThe U.S. far outpaced the rest of the world in minting millionaires last year, adding 600,000 new millionaires and powering record fortunes at the top, according to a new study.America's millionaire population grew 7.3% in 2023 to 7.5 million people, according to a report...
The Covid-19 pandemic worsened a child care crisis, and it’s costing U.S. businesses billions
Vadym Buinov | Moment | Getty ImagesThe Covid-19 pandemic brought to the surface both cracks and resilience in the American economy, with child care taking center stage as day cares shuttered, schools went remote and parents attempted to juggle their children with their jobs.While employment in the child care sector...
Apollo’s co-president said it is one of the few private equity firms OK with higher rates
Back in December 2023, when the market was pricing in six or so rate cuts, Apollo Asset Management Co-President Scott Kleinman had a more contrarian view: He said he'd be betting against any rate cuts in 2024. That call so far has paid off. But higher-for-longer rates haven't necessarily been a tailwind for...