News
JP Morgan sees 10% plunge in S&P 500 over Iran war
3+ day, 11+ hour ago (642+ words) Wall Street traders are ill-prepared for an expected sharp 10% plunge in the S&P 500 triggered by the escalating war in Iran, JPMorgan Chase & Co.s trading desk warned Monday, as oil prices soared past $100 a barrel and risks of economic…...
Gas will be below $3 soon, Energy Secretary Wright says, as he insists US won’t target energy infrastructure in Iran
4+ day, 12+ hour ago (515+ words) Gas prices will dip below $3 a gallon "again before too long," Energy Secretary Chris Wright promised Sunday " as he denied the US was targeting energy infrastructure in Iran. Wright touted that gas prices are "still $1.50 a gallon cheaper" than they…...
Wall Street executives blame Morgan Stanley’s latest layoffs on AI
5+ day, 2+ hour ago (870+ words) Morgan Stanley's surprise round of layoffs this past week was the result of "shifting business and location priorities," and "individual job performance" issues here and abroad, according to the firm's flacks. But insiders close to the Wall Street giant say…...
How fed regulators could use nearly 100-year-old law to block attempts to lower US prices
1+ week, 1+ hour ago (818+ words) Every politician in Washington is promising to alleviate the "affordability crisis." " But nobody told that to the trial lawyers and federal regulators " who have dusted off a century-old law to sue companies for the high crime of lowering consumer prices....
Why Wall Street isn’t panicking over the Iran war — yet
1+ week, 1+ day ago (454+ words) The market gyrations over the Iran conflict are starting to feel a bit like "Liberation Day" " and that could be a good thing. Last April, Wall Street's initial fears about Trump's tariffs proved overdone, as sold-off stocks soon bounced back…...
Infuriating reason California’s housing crisis is spiraling out of control — and how Newsom can stop the market collapsing
1+ week, 2+ day ago (598+ words) Switch between CA and NY editions here. California's spiraling housing crisis is being driven by insane property prices, draconian building restrictions and historically low mortgage rates that deter people from moving, an expert has revealed. The Golden State is in…...
Senate Dems' new bill aims to slash home prices by cutting building materials tariffs
1+ week, 2+ day ago (424+ words) A group of Senate Democrats introduced a bill to'exempt home construction materials from tariffs, a move the National Association of Home Builders has pushed for. S. 3943'would automatically exempt a list of building materials from current and future tariffs. It would…...
Dow plunges 1,000 points as oil, gas prices surge after Iran orders Strait of Hormuz closure
1+ week, 2+ day ago (381+ words) The Dow tumbled more than 1,000 points on Tuesday after gasoline prices spiked overnight and oil rocketed above $83 a barrel as the widening conflict in Iran began to disrupt global energy supplies. The Dow Jones Industrial Average plunged 1,050 points, or 2.01%, while…...
Jaime Dimon warns inflation could soar beyond expectations as US, Israeli strikes on Iran spark terror fears
1+ week, 3+ day ago (615+ words) JPMorgan Chase CEO Jamie Dimon warned Monday that inflation could shape up to be a "skunk in a party" following the US and Israeli air strikes on Iran over the weekend. Following the outbreak of conflict, in which Iranian Supreme…...
Inflation slows to 2.4% in January, at tamest pace since last May
3+ week, 6+ day ago (561+ words) Inflation slowed in January to its tamest pace since May 2025 as the economy seemingly skirts the full effects of President Trump's tariffs for now " helped by falling gasoline prices. The Consumer Price Index rose 2.4% in January, undershooting expectations and decelerating…...