The recovery in the American job market is still painfully slow. Another 778,000 people filed for first-time unemployment benefits last week on a seasonally adjusted basis. That was more than the 735,000 initial jobless claims that economists were expecting, and it’s also higher than last week’s revised number of 748,000. It’s the second straight week…… MORE
Markets have reached a new milestone in the middle of a bruising pandemic, another sign that investors have been more than willing to look past short-term pain toward better days ahead. What’s happening: The Dow topped 30,000 points on Tuesday for the first time ever, a symbolic win for the market bulls that have bet…… MORE
Global stocks were mixed on Wednesday after the Dow closed above 30,000 points for the first time, hitting pause on a market rally that has been fueled by encouraging vaccine news and signs that a formal transition of power is underway in Washington. US stock futures were little changed ahead of the open. Dow futures…… MORE
Sunbeam Products is voluntarily recalling more than 900,000 of its Crock-Pot 6-Quart Express Crock Multi-Cookers for a potential burn hazard. The recall news comes just two days before Thanksgiving. The problem, according to the United States Consumer Product Safety Commission (CPSC), is “the recalled Crock-Pot multi-cooker can pressurize when the lid is not fully locked.”…… MORE
The parents of Seth Rich, a Democratic National Committee staffer whose unsolved murder became the basis for right-wing conspiracy theories, settled their lawsuit with Fox News on Tuesday. “The settlement with Fox News closes another chapter in our efforts to mourn the murder of our beloved Seth, whom we miss every single day,” the parents,…… MORE
About an hour after the news that BuzzFeed is acquiring HuffPost first broke, BuzzFeed chief Jonah Peretti held an all-hands for HuffPost staffers over Google Meet. Peretti appeared enthusiastic and optimistic, according to two HuffPost staffers who were on the call, and those feelings were shared by some members of the staff at HuffPost, but…… MORE
BlackRock, Vanguard and State Street manage a stunning $15 trillion in combined assets, equivalent to more than three-quarters the size of the US economy. The rapid growth of the Big Three fund managers, driven in part by rise of dirt-cheap ETFs, gives them enormous sway over financial markets and the priorities of Corporate America. Combined,…… MORE
A few weeks before the election I went to a meeting of QAnon fanatics in Scottsdale, Arizona. The groupthink there: President Trump was not only going to win the election — he was going to win it in a landslide. Anything other than that result would be evidence of mass election fraud. That, of course,…… MORE
A UK investment company with ties to Queen Elizabeth II is teaming up with an American rival that manages money for some members of the family behind Forbes Magazine. FWM Holdings, the parent company of the Forbes Family Trust, and Stanhope Capital, which advises the Queen on her £538 million ($718.7 million) private investment portfolio,…… MORE
Dow 30,000 is a milestone nearly 125 years in the making. The average began tracking the most powerful corporate stocks in 1896, and it has served as a broad measure of the market’s health through 22 presidents, 24 recessions, a Great Depression and two global pandemics. Along the way, it also weathered at least two…… MORE
