ON WALL STREET—America’s biggest bank is calling it quits on the street where American finance was born. JPMorgan Chase closed its branch Friday at 45 Wall St., ending more than 150 years of physical ties between the bank and the street that is a catchall term for the global money business. The majority of the banks and brokerages that once populated Wall Street are already gone, finding new homes across Manhattan or beyond.
A bigger COLA may sound great, but it has some big drawbacks for retirees too.
Data analytics firm Palantir Technologies raised its annual revenue and profit forecast and beat first-quarter sales estimates on Monday, riding on strong demand for its services that help businesses deploy artificial intelligence applications. The company has emerged as a winner of the generative AI boom thanks to its artificial intelligence platform, which is used to test and debug code and help evaluate AI-related scenarios, among other uses. "AIP is driving a huge part of both our new customers and growth within existing customers and its having a huge impact on our business," chief revenue officer Ryan Taylor told Reuters.
Real estate mogul Grant Cardone took aim at the Biden administration's proposed 25% tax on unrealized gains on taxpayers with wealth greater than $100 million, asking his followers on X to imagine the value of their homes or stocks increasing $400,000. "YOU would owe $25,000 without selling," Cardone posted. "Another attempt to destroy middle-class America." The Budget of the United States Government for fiscal 2025 proposes a new minimum tax on income and unrealized capital gains — for the smal
The last inflation report, which came in worse than expected, had investors worried about the Federal Reserve’s plans for interest rates this year. The central bank held rates steady in its most recent decision, cooling fears that a hike is in the offing. When combined with moderate gains in the Q1 earnings reports, it makes sense that we saw stocks rebounding as confidence in the market was restored. However, according to JPMorgan’s chief market strategist Marko Kolanovic, we’re not out of the
Dow Jones Futures: AI stock leader Palantir plunged on earnings late Monday, while Apple's "Let Loose" event will take place Tuesday.
Palantir followed up its “bombastic” December quarter with even better results for the March quarter as the data analytics software company continued to gain traction with its artificial intelligence tools in particular with U.S. commercial customers. Palantir shares, which rallied 8.1% in Monday’s regular session, was off about 4 % in after-hours trading. For the March quarter, Palantir posted revenue of $634 million, up 21% from a year ago, and ahead of both the company’s guidance range of $612 million to $616 million and Wall Street’s consensus of $615 million as tracked by FactSet.
Nvidia's run at the top of the AI trend may be coming to an end, and smart money is pouring into these 2 AI winners.
EV maker Lucid reported mixed first quarter results as a wider-than-expected loss trumped the company's confirmation that its Gravity SUV is still on track for a 2024 debut.
General Electric officially split into GE Aerospace and GE Vernova in April. GE Aerospace now trades at its best level since the 2008 meltdown.
During Tesla's first-quarter earnings call, investors learned that the company is exploring licensing opportunities in autonomous driving.