Tax Foundation President Scott Hodge discusses Massachusetts proposed 'millionaire's tax' and Biden's 2021 tax returns.
FOX Business' Gerri Willis reports on the latest news from the Treasury Department on Tax Day.
{{#rendered}}Former Twitter CEO Jack Dorsey slammed the board's "dysfunction" as it handles billionaire Elon Musk's offer to purchase the company.
"If [you] look into the history of Twitter board, it’s intriguing as I was a witness on its early beginnings, mired in plots and coups, and particularly amongst Twitter’s founding members. I wish it could be made into a Hollywood thriller one day," a Twitter user posted Sunday on the platform.
Dorsey responded: "it’s consistently been the dysfunction of the company."
| Symbol | Price | Change | %Change |
|---|---|---|---|
| TOL | $46.18 | -0.96 | -2.04% |
| DHI | $72.51 | -1.59 | -2.15% |
| LEN | $76.77 | -1.20 | -1.54% |
U.S. homebuilders are feeling less optimistic, according to the National Association of Homebuilders April survey.
"Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability" according to the NAHB.
{{#rendered}}Investors get the first chance to react to Twitter's poison pill announced on Friday when the markets were closed due to Good Friday.
SNL had a little fun with the battle for the social media giant.
{{#rendered}}| Symbol | Price | Change | %Change |
|---|---|---|---|
| BAC | $37.57 | -1.25 | -3.22% |
Bank of America reported first-quarter earnings on Monday that topped Wall Street estimates.
EPS: 80 cents vs. 75 cents Refinitiv estimate
SpaceX successfully launched a spy satellite into orbit on Sunday, a process that aided the National Reconnaissance Office after previous attempts were postponed.
The Hawthorne-based company conducted the launch out of the Vandenberg Air Force Base Sunday afternoon after its initially scheduled launch on Friday was delayed twice over the weekend, Fox 11 of Los Angeles reported.
Colonel Rob Long, Space Launch Delta 30 commander, said in a statement that the NROL-85 launch sent "critical" equipment that would aid in securing "vital intelligence data."
| Symbol | Price | Change | %Change |
|---|---|---|---|
| BTC | $93.68 | -0.39 | -0.42% |
Bitcoin dropped below $40,000 on Sunday, trading early Monday morning slightly below $39,000.
Bitcoin is down more than 1.5% thus far today and down 3.37% month-to-date, Coindesk reported.
The clock is ticking toward the tax reporting deadline of April 18.
Many investors are trying to figure out how to treat cryptocurrencies on their taxes.
The Internal Revenue Service is getting more serious about it.
{{#rendered}}| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $34,451.23 | -113.36 | -0.33% |
| SP500 | $4,392.59 | -54.00 | -1.21% |
| I:COMP | $13,351.08 | -292.51 | -2.14% |
U.S. markets were choppy early Monday following the Easter holiday, as earnings season kicks into high gear this week, with a slew of key financial names reporting.
Meanwhile, Netflix and Tesla will be the first of the big-cap consumer/tech titans to post 1Q results.
Also watch for numbers from several airlines.
All told earnings from seven Dow members, and 66 S&P 500 companies, or about 13% of the benchmark index will be released.
The average price for a gallon of gasoline in the U.S. ticked up slightly on Monday to $4.087, according to the latest numbers from AAA.
The price on Saturday was $4.080.
The previous record high was $4.33, set on Friday March 11, 2022.
Oil prices moved higher in early Asian trade, with weak crude production from OPEC supporting prices, Oanda market analyst Ed Moya said in a note.
Although the IEA's oil-reserve release is weighing on sentiment, Moya says this already looks priced in.
So "that leaves the risks heavily tilted to the upside as OPEC remains ... unable to hit the quotas" it had earlier set.
{{#rendered}}| Symbol | Price | Change | %Change |
|---|---|---|---|
| GOL | $6.99 | -0.24 | -3.32% |
Gold was trading higher in early Asian trading, with concerns of elevated U.S. inflation driving demand for the safe-haven asset, DailyFX.com analyst Thomas Westwater said in a note.
However, "while inflation is at more than 40-year highs, forward expectations are beginning to ease. This will likely weigh on bullion prices," he said.
Spot gold is 0.6% higher at $1,985.49 a troy ounce.
U.S. housing sales are heating up again this spring, but the highest mortgage rates in more than a decade threaten to cool the sales pace that has gripped the market for nearly two years.
Home sales rose last year to the highest level since 2006 as the Covid-19 pandemic changed consumers’ housing priorities and remote work enabled people to move farther from work.
While record-high home prices and record-low inventory of homes for sale have pushed many would-be buyers to the sidelines, intense demand has kept activity at historically strong levels.
Now, with borrowing rates hitting 5% for the first time since 2011, homes may be getting too expensive to keep prices rising so rapidly.
Coverage for this event has ended.