Month: May 2021

Why the Stock Market Could Drop 10% Over the Next 5 Months.

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The stock market looks poised to drop harshly through the next five months, if history is a guide, according to Stifel strategists.

The stock market historically doesn’t perform well between May and October and this year may fit perfectly into that trend. In this stretch, the S&P 500 has averaged a 1.7% drop, looking at data going back to 1950. On average, it has gained 5.48 percentage points less from May through October than between November and April, according to the strategists.

And while these are just averages dating back decades, this year may be a

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Inside Older People’s Battles to Access Student-Debt Relief

  • Over 8 million borrowers over age 50 hold 22% of the federal student-debt load, or $336.1 billion.
  • Insider spoke with borrowers with debt burdens they fear won’t be paid in their lifetimes.
  • One borrower started with $79,000 in debt, paid $175,000, but still has a balance of over $200,000.
  • See more stories on Insider’s business page.

At 59 years old, David Wise has $236,485 of outstanding student loans, according to documents reviewed by Insider. That’s after making about $175,000 in payments over four decades.

He said that when he graduated from law school with the goal of becoming a public-interest

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Your Daughter Will Thank You for Teaching Her These 5 Financial Lessons

Mother’s Day arrives this year amid mounting financial difficulties for women and girls. COVID-19 has driven millions of women, particularly mothers of young children, out of the workforce, leading to disproportionate female wealth loss and some of the highest unemployment rates for women seen in the 21st century. I’ve seen this firsthand in my work helping young people at Albert, a personal finance app whose customers (which skew 20-something and female) can text me and the other Geniuses for financial guidance. Since the pandemic started, I’ve gotten frequent messages from young women who are navigating unemployment or underemployment

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Ethereum cryptocurrency passes $4,000 for the first time

On May 5, 2020, one Ether token was worth $186. One year later, on Sunday night, the cryptocurrency hit $4,000 for the first time, a rise of over 2,100%. Though Dogecoin is sucking up most of the world’s cryptocurrency attention, it’s been a huge May for Ethereum already, as Sunday’s milestone comes just a week since the cryptocurrency hit $3,000 for the first time. 

a close up of a logo: Cryptocurrency has captured the attention of more investors this year. Getty Images

© Provided by CNET
Cryptocurrency has captured the attention of more investors this year. Getty Images

Ether is a cryptocurrency minted on the Ethereum blockhain. Bitcoin, the most known currency, is built on its own, separate

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For $25 Million, the Gilded Manhattan Townhomes of a Wall Street Heavyweight

On New York’s Upper East Side, a pair of Georgian-style townhomes built around 1930 by the family of one of the world’s richest men—and more recently owned by the late investment banker and preservationist Richard H. Jenrette—is coming on the market for $25 million.

Designed by Delano & Aldrich, an architecture firm known for building houses for the Rockefellers, Vanderbilts, Astors and Whitneys, the houses consist of a larger main home that is connected in several places to an adjacent smaller home with a large garage. Both are perfectly preserved with all original architectural details, fixtures and fittings, said listing

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Asia markets mixed after Wall Street decline | Business

BEIJING — Asian stock markets were mixed Wednesday in light trading while China and Japan were closed for holidays.

Hong Kong declined while Sydney and India advanced following Wall Street’s overnight fall. New Zealand and Southeast Asian markets retreated.

Wall Street’s benchmark S&P 500 index lost 0.7%, dragged down by more declines for tech stocks including Apple and Microsoft.

The Hang Seng in Hong Kong lost 0.6% to 28,397.29 while the S&P-ASX 200 in Sydney rose 0.4% to 7,094.90.

India’s Sensex opened up 0.4% at 48,454.09. New Zealand’s benchmark lost 0.4%, Singapore shed 1% and Bangkok tumbled 1.8%.

“With relatively

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Stock Market Today With Jim Cramer: Buy AMD

Stocks traded lower Wednesday after the Federal Reserve noted the U.S. economy was strengthening but kept interest rates near zero.

TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about how to trade AMD, meme stocks AMC Entertainment and Microvision and markets on Wednesday.

AMD: Buy Or Sell?

Advanced Micro Devices  (AMD) – Get Report shares were dropping Wednesday even after the chipmaker forecast solid current-quarter sales and a robust full-year outlook on improving demand and easing of tensions in the global semiconductor supply chain.

Cramer said AMD is a buying opportunity

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As Scrutiny of Cryptocurrency Grows, the Industry Turns to K Street

The board of advisers at the digital chamber is stuffed with former federal regulators, including a former member of Congress and a recent chairman of the Commodity Futures Trading Commission, J. Christopher Giancarlo, who was named to the board of BlockFi, a financial services company that tries to link cryptocurrencies with traditional wealth managers.

Max Baucus, the Democratic former chairman of the Senate Finance Committee, and Jim Messina, a former top Obama adviser, also have recently been named to senior industry posts.

Lobbying disclosure records show that at least 65 contracts as of early 2021 addressed industry matters

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Andrew Cuomo Investigation Expands as State Attorney General Looks at Aide’s Calls

ALBANY, N.Y.—The state attorney general’s office has expanded its investigation of sexual-harassment allegations against

Gov. Andrew Cuomo

to look at whether one of his top advisers linked access to Covid-19 vaccines to support for the governor, according to people familiar with the matter.

Investigators have interviewed at least three Democratic county executives who said they were surprised to receive calls from Larry Schwartz, a volunteer adviser who oversaw vaccine distribution for the state, asking whether they would be calling for Mr. Cuomo’s resignation, the people said.

Mr. Schwartz contacted more than a half-dozen executives in early March, executives said, as

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