The National Association of Realtors came out with its monthly update on housing, and the results were stunning. The median price of an existing home in the U.S. rose to a record $329,100 in March, an increase of 5.92% from February and 17.2% from 2020
Two sporting cultures have just waged a war over the “beautiful game” of soccer, with the U.S.-inspired model of a closed-franchise championship for EU elite football clubs losing out to the European attachment to giving the little guy a sporting chance
Since the pandemic started, it’s been clear that business and international air travel would be among the the hardest-hit sectors of the economy and one of the last to recover. Even as some countries start to reopen their borders, that hasn’t changed
The bank’s first-quarter results on Thursday showed a 47% increase in net income from the previous three months to $8.1 billion. Much like Citigroup Inc., which just a few hours later posted a record profit thanks in part to a $3.9 billion release...
That was my first reaction when I saw the biggest U.S. bank’s top-line results for the first quarter. Its adjusted revenue of $33.12 billion was up 14% year-over-year and topped even the highest forecast, as did its net income of $14.3 billion, a record
Earlier this month, the ECB announced that it would buy more bonds to stop borrowing costs rising. It was worried that the euro zone economy was in such poor shape that it couldn’t afford to have European bond yields dragged higher by their U.S. cousins
President Joe Biden’s next major legislative initiative is called an “infrastructure” bill, but it’s actually something bigger. It's about transforming the nation to better fit the needs of our future economy — in other words, industrial policy.
Elon Musk, the Technoking of Tesla, says the electric vehicle maker will now accept payment in Bitcoin for its cars. Adding more of the capricious cryptocurrency to the balance sheet of one of the world’s fastest growing companies by market capitalization
If it wasn’t for last year’s extraordinary events, there would be nothing even remotely remarkable about Jayshri Hodkar’s struggle to survive as a single mother of two on the earnings of her tailoring shop, a single machine in one room of a rented house
The $21 trillion U.S. Treasury market already set the narrative ahead of the Federal Reserve’s decision on Wednesday. Benchmark 10-year yields stormed to the highest level since January, while 30-year yields reached 2.44% for the first since August 2019
The American Rescue Plan, which President Joe Biden signed into law today, contains a provision that represents a qualitative break from the welfare-to-work policies that have been in place since the 1990s. The change is also scrambling party politics
Federal Reserve Chair Jerome Powell has worked at the central bank for almost a decade. Naturally, during that time he has seen his share of market meltdowns, from the so-called taper tantrum in 2013 to the losses in late 2018 that forced him to....
Goldman Sachs Group Inc.’s strategy for broadening its reach beyond Wall Street and the wealthiest clientele made all the sense in the world. It already had a consumer bank, Marcus, that offered options like higher-interest savings accounts for individuals
With a new administration in Washington, a rollout of mass vaccinations, policy discussion in the U.S. revolves around the size of the next fiscal package. Similar debates are taking place across the world. The word “stimulus” is causing a lot of confusion
Imagine a team of smartly dressed bankers pitching an investment to Wall Street financiers only to be left raging when a weirdo in a dog costume walks in and gets the money. That’s how some corners of the cryptocurrency market are reacting....
Tens of millions of Americans are scrambling to keep a roof over their heads, food on their tables, education for their children and access to healthcare during an epic public health and economic crisis. Joe Biden acknowledged that hardship Thursday night
The Rubenstein Show