Credit

It's a Tom Jones rally but it may be overbought, say analysts

It’s a Tom Jones rally but it may be overbought, say analysts

The latest action in stocks may be a concern for the bulls. The S&P 500’s initial surge on Thursday to fresh three-month highs fizzled as the session wore on. The “peak inflation rally” faded. Futures early on Friday are firmer again, but inevitably there are some observers still wary of the recent bounce. “Obviously, a …

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Clark’s Favorite Cash Back Credit Card Just Gave You a New Reason To Apply

Clark’s Favorite Cash Back Credit Card Just Gave You a New Reason To Apply

If you’ve been listening to money expert Clark Howard for any period of time, you’ve likely heard him recommend the Citi® Double Cash Card. He loves the cash back credit card because it offers an unlimited 2% cash back on every purchase you make (1% when you buy, 1% when you pay for those purchases). It …

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These stocks soared up to 12% after inflation cooled

These stocks soared up to 12% after inflation cooled

Amid the euphoria following what appeared to be the first sign of slowing inflation, stocks staged a broad rally on Aug. 10, with dozens of large-cap stocks rising 5% or more. Those included several tech names that investors loved during the early stages of the coronvirus pandemic, along with cruise lines, credit-card lenders and chip-related …

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Auto makers warn most electric vehicles won't qualify for federal tax credit

Auto makers warn most electric vehicles won’t qualify for federal tax credit

But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent. And those …

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Most electric vehicles won’t qualify for Inflation Reduction Act tax credit

Most electric vehicles won’t qualify for Inflation Reduction Act tax credit

A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s mainly because of the …

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Most electric vehicles won't qualify for federal tax credit

Most electric vehicles won’t qualify for federal tax credit

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s …

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The red flag that preceded a halving of global equities in 2000 and 2007 is back, warns Citi

The red flag that preceded a halving of global equities in 2000 and 2007 is back, warns Citi

We are a day away from data that could prove a turning point for markets. If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, possibly knocking stocks. But if it swings the other way, especially after surprisingly good jobs data, the view that things …

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It’s possible no electric vehicles will qualify for the new tax credit

It’s possible no electric vehicles will qualify for the new tax credit

Enlarge / Volkswagen is one of several automakers that are already assembling their EV battery packs locally. But the value of the materials that go into the pack will determine whether it qualifies for the revised clean vehicle tax credit. Volkswagen The Inflation Reduction Act of 2022 passed the United States Senate on Sunday and …

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Upstart stock drops after earnings, but CEO says he's 'confident' in value of AI lending

Upstart stock drops after earnings, but CEO says he’s ‘confident’ in value of AI lending

Upstart Holdings Inc. shares fell after the company delivered a lower-than-expected revenue forecast for the current quarter, but its chief executive expressed confidence in the performance and value of artificial-intelligence-driven lending. Since Upstart UPST, +9.02% offered preliminary second-quarter results a month ago that fell shy of expectations, the key issue headed into the company’s official …

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No electric vehicles on the market today qualify for the new EV tax credit

No electric vehicles on the market today qualify for the new EV tax credit

Congress is poised to approve newly expanded tax credits for electric vehicles, but the rules are written in such a way as to effectively disqualify every EV that’s currently on the market today. That’s because most EVs run on lithium-ion batteries that are mostly made in China. The nation has a lock on some 76 …

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