US Rigged Markets ~ NSS ~ MM Games
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IRS Enhances Crypto Tax Compliance with New Rules
Category: Crypto Total Views: 54By : Thomas Cooper Updated: 07-01-2024
Introduction to the New IRS Guidance on Crypto Tax Reporting
The IRS has published final guidelines for digital asset brokers' tax reporting. These guidelines reflect an attempt to guarantee compliance among high earners. Yearly reporting will become required beginning in 2026. Using Form 1099-DA, digital currency brokers must report gross sales proceeds in 2025. Brokers have to include the cost basis for some sold digital assets by 2027, based on 2026. This direction seeks to stop taxabl... Continue Reading
AI Enthusiasm Boosts First-Half Market Performance
Category: Markets Total Views: 44By : Hannah Lewis Updated: 07-01-2024
Nasdaq Composite Hits Record High
Monday brought higher stocks; the Nasdaq Composite closed at a record. Setting a new closing high, the tech-heavy index progressed 0.83% to end at 17,879.30. This signifies the ongoing great momentum observed in the first half of 2024. Gains in key technology stocks drove the rise. Investors still see great possibilities for the tech industry. Developments in artificial intelligence and other futuristic technologies have stoked this hope. The way the Nasdaq p... Continue Reading
Maersk Faces Fleet Challenges Amid Red Sea Disruptions
Category: Business Total Views: 85By : Lucas Young Updated: 07-01-2024
Ongoing Red Sea Disruptions Impacting Q3 Shipping
The Red Sea has evolved into a hotspot for disturbances influencing container traffic into the third quarter. Leading Danish shipping company Maersk has been especially affected by these difficulties. The disturbances result from actions of Iran-aligned Houthi militants, which raises security issues. Shipping firms have been obliged by this to change their paths, avoiding the Red Sea. Travel times on the longer alternative path around Cape of ... Continue Reading
GameStop Stock Manipulation Lawsuit Targets Keith Gill
Category: Stocks Total Views: 117By : Dylan Bailey Updated: 07-01-2024
"Roaring Kitty" Faces Lawsuit for Alleged GameStop Manipulation
Known online as "Roaring Kitty," Keith Gill is under legal hot fire for allegedly manipulating GameStop's stock. Gill's activities, according to investors, amounted to a "pump-and-dump" tactic resulting in notable financial losses. Gill is being sued for securities fraud in the Brooklyn federal court. Lead by Martin Radev, the plaintiffs claim that Gill's actions between May 13 and June 1... Continue Reading
Improved Housing Supply Limits New Construction Growth
Category: Real Estate Total Views: 87By : Olivia Taylor Updated: 07-01-2024
Unexpected Decline in U.S. Construction Spending in May
Unexpectedly declining U.S. construction spending in May signaled a change in the market. The Census Bureau of the Commerce Department noted a 0.1% drop. This drop came after an upwardly corrected 0.3% increase in April. For May, economists had projected a 0.2% rebound. This surprising decline begs problems regarding the stability of the market. A big part was played by higher mortgage rates. They influenced general construction confiden... Continue Reading
Banking Stocks Propel Dow as Semiconductor Shares Decline
Category: Markets Total Views: 128By : Owen Jenkins Updated: 07-01-2024
Banking Stocks Propel Dow, Semiconductor Shares Drag Nasdaq
Monday's Dow rose with banking stocks, while the S&P 500 banking index surged 1.3% to its highest in more than a month. JP Morgan Chase's all-time high for shares helps to explain the index's climb. As U.S. Treasury yields peaked in more than two weeks, this increase in banking stocks followed. Strong financial performance and positive economic data have investors hopeful about the banking industry. The increase in Tr... Continue Reading
Lower Factory Input Prices Signal Inflation Relief
Category: Economy Total Views: 78By : Dominic Sanders Updated: 07-01-2024
U.S. Manufacturing Sector Contracts for Third Consecutive Month
June's U.S. manufacturing sector contracted for the third month running. From 48.7 in May, the Institute for Supply Management (ISM) recorded that its manufacturing PMI dropped to 48.5 in June. A PMI reading less than fifty suggests contraction. Ten percent or so of the U.S. economy is manufacturing. Economists had projected a small rise in the PMI to 49.1. Main causes of this drop are rising interest rates and declining dema... Continue Reading
Boeing's Future Contracts at Risk with Fraud Charges
Category: Business Total Views: 90By : Riley Hayes Updated: 07-01-2024
U.S. Justice Department to Charge Boeing with Fraud
Two deadly 737 MAX aircraft crashes will result in criminal charges against Boeing by the US Justice Department. In 2018, and 2019, there were two crashes that claimed 346 lives. Prosecutors intend to present a plea deal with an independent monitor and a monetary fine. The monitor will spend three years auditing Boeing's compliance and safety procedures. Boeing needs to choose between a trial and a guilty plea. We'll present the plea... Continue Reading
Euro Gains on France's Election, Market Eyes Fed Decisions
Category: Markets Total Views: 89By : Caleb Price Updated: 07-01-2024
Euro Gains After France's Snap Election
Following the first round of France's snap election, which placed the far-right National Rally (RN) party in the lead, the euro appreciated Monday. While winning, Marine Le Pen's party received a lower percentage of the vote than some polls had predicted. Since President Emmanuel Macron announced the election on June 9, the euro had lost almost 0.8%, but it was now up 0.24% at $1.0737. It hit a more than week-high of $1.0749 earlier in the s... Continue Reading
Emerging Global Tech Hubs: Talent Beyond Silicon Valley
Category: Business Total Views: 246By : Editor Updated: 06-30-2024
The Rise of Borderless Hiring in Technology
Technology is starting to see a lot of borderless hiring. Companies are not limited to local talent pools any more. With this change, companies can hire qualified people from all over the world. The COVID-19 pandemic hastened this tendency as working remotely became the standard. Because of the nature of their work, technology companies are especially suited for this changeover. The talent pool is bigger and more varied when hiring without borders. ... Continue Reading