Tesla CEO, Elon Musk, has criticized the Federal Reserve’s monetary policy, stating that the Fed was too slow to increase rates and will likely be too slow to lower them in the coming months. Musk believes that the Federal Reserve is operating with too much latency, and the data being used to make decisions is
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Tesla CEO Elon Musk addressed shareholders at the company’s annual meeting, discussing his predictions for the economy and promising the production and delivery of Cybertrucks later this year. Musk stated that Tesla plans to deliver its first Cybertrucks this year and hopes to produce between 250,000 and 500,000 annually. Additionally, Musk stated that he intends
JPMorgan Chase has been warned by a federal judge in New York that it could face contempt of court charges if it does not speed up the production of evidence related to late sexual offender and money manager Jeffrey Epstein. The warning comes as a result of lawsuits by an Epstein accuser and the government
The S&P 500 and the Dow Jones Industrial Average were on track for their second week in the red, dropping 0.9% and 1.6% respectively, while the Nasdaq Composite lost 0.2%. The banking sector and the US economy’s health concerns reignited investors’ worries. PacWest’s significant deposit outflows during the first week of May caused regional bank
A new study published in JAMA Internal Medicine suggests that Medicare could spend up to $5 billion per year on the new Alzheimer’s antibody treatment, Leqembi. If around 85,700 patients test positive and are treated with the Eisai and Biogen product, Medicare would spend approximately $2 billion per year. However, if around 216,500 patients become
Google has announced that it will embed markups within images created by its AI models to warn users that the images were originally created by a computer. The information within the images will not be visible to the human eye, but software like Google Search will be able to read it and display a label
Tom Lee, the co-founder of Fundstrat, predicts that large-cap technology stocks will continue to surge in 2023, and FAANG shares could have even more room to grow. Lee believes that FAANG (Facebook’s parent company Meta, Amazon, Apple, Netflix, and Alphabet) could rise by up to 50% this year. He anticipates a rebound in FAANG companies
The Senate Banking Committee is holding a hearing to discuss the bipartisan bill that would allow the cannabis industry to access traditional banking services. The hearing, titled “Examining Cannabis Banking Challenges of Small Businesses and Workers,” will hear testimony from lawmakers on both sides of the aisle, including Sens. Jeff Merkley, D-Ore., and Steve Daines,
Goldman Sachs has predicted that “green capex” will be the leading driver of global infrastructure over the next ten years. Green capex refers to capital expenditures that are directed towards sustainability goals such as decarbonization, infrastructure, and clean water. The investment bank says that public and private sectors will see a boom in investment towards
Pentair, the pool equipment company, has received an upgrade from UBS, whose analysts believe the pool cycle is nearing its bottom. The firm has upgraded the shares from neutral to buy, and raised the price target to $72 per share from $53, which implies a 24.4% rally from the previous close. Analyst Damian Karas noted