Day: March 6, 2024

President Joe Biden is getting his annual chance to talk directly to millions of Americans with his State of the Union address Thursday night, and he’s sure to address inflation, immigration and other issues important to voters in this election year.

His remarks are likely to have significant implications for financial markets, according to Terry Haines, a veteran Washington analyst and founder of Pangaea Policy.

A…

Tesla Inc. shares on Wednesday headed for their lowest in nearly a year after a known Tesla bull cut his price target on the stock and warned that the company could post a loss this year based on GAAP accounting.

EV demand continues to slow despite repeated price cuts, companies are dumping EVs from their fleets, and hybrids compete for the “marginal EV buyer,” Morgan Stanley analyst Adam Jonas said in his note.

“If…

U.S. Treasury yields were inching lower on Wednesday as traders digested Congressional testimony from Federal Reserve Chairman Jerome Powell, who expected the central bank to cut interest rates in 2024, but reiterated that there is no rush to do that unless policymakers have “greater confidence” that inflation is moving sustainably toward their 2% target.

What’s happening

What’s driving markets

In prepared remarks for congressionally mandated appearance on Capitol Hill Wednesday morning, Fed Chair Powell said…

The number of high-school students required to receive personal-finance instruction before they graduate is about to increase substantially — and bleak early-pandemic memories could be one factor driving the surge, some financial-literacy experts say.

“The pandemic really pulled the cover off the fact that so many Americans really had no financial resilience, and that really opened people’s eyes,” said Nan Morrison, the president and CEO of the Council for Economic Education.

“The…