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Mortgage rates are expected to drop, which means that it might be a good time to buy a second home. There's no perfect time to buy a home, so I'm more concerned with whether it feels like a good time. So, while mortgage rates are expected to go down this year for primary homes, mortgage rates for second homes might not fall as equally. Still, the Fed rate cut is already impacting mortgage rates, which could benefit second-home mortgages, as well. Barring a big windfall of cash allowing you to buy something outright, there may never be a "perfect" time to buy a home.
Persons: Grams, I'm, Grams —, doesn't, Cheryl Lock Cheryl Lock, Read Organizations: USA, Forbes, MarketWatch, Twitter, LinkedIn Locations: Denver
Brandon Copeland Copeland MediaBrandon Copeland is a former NFL linebacker turned coach. Brandon Copeland: Feeling unprepared for some of the major financial decisions in life. I think that's important to start to develop your stomach. I always break that down as, that's a lot of Chipotle burritos, that's a lot of dinners, that's a lot of time with my family at the water park. Brandon Copeland Copeland MediaGI: One of the first things that you encourage people to do in the book is say aloud to themselves, "I can be wealthy."
Persons: Brandon Copeland Copeland, Brandon Copeland Copeland Media Brandon Copeland, gravitates, , Cope, Copeland, Greg Iacurci, Brandon Copeland, That's, you've, Bloomberg —, I'm, it's Organizations: Brandon Copeland Copeland Media, NFL, National Football League, University of Pennsylvania's Wharton School, New York Jets, CNBC, Financial Wellness Advisory Board, Athletes.org, Orlando, Baltimore Ravens, NFL Players Association, Lions, Yahoo Finance, Wall Street Journal, Bloomberg Locations: isn't, New Jersey, Detroit
Perplexity AI on Tuesday debuted a revenue-sharing model for publishers after more than a month of plagiarism accusations. Media outlets and content platforms including Fortune, Time, Entrepreneur, The Texas Tribune, Der Spiegel and WordPress.com are the first to join the company's "Publishers Program." Under the new partner program, any time a user asks a question and Perplexity generates advertising revenue from citing one of the publisher's articles in its answer, Perplexity will share a flat percentage of that revenue. "Some of it grew out of conversations we were having with publishers about integrating Perplexity APIs and technology into their products," Shevelenko said. But not all news organizations are gearing up for a fight, and some are instead joining forces with AI startups like OpenAI, Perplexity and others.
Persons: Der Spiegel, WordPress.com, Forbes, Weeks, Perplexity, Dmitry Shevelenko, Shevelenko, ScalePost.ai, OpenAI, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult Organizations: Media, The Texas Tribune, Wired, Google, CNBC, Center, Investigative, Microsoft, New York Times, Chicago Tribune, New York Daily News, Time, News Corp, Wall Street, Barron's, New York Post Locations: Perplexity
For some car owners, it might be more financially savvy to rent a vehicle for a road trip than use their own, experts said. Drivers would need to compare total rental costs — the daily rental rate and potential add-ons like insurance — versus those of operating their own car. "Most people will be shocked at what it actually costs to own and operate their car," Brannon said. The cost of rental car insurance might add $30 to $61 to the daily rate, depending on insurance type, according to Allianz Travel, citing MarketWatch data. Car owners may already get full coverage on a rental via their own car insurance policies, or may have some coverage through credit-card benefits, Brannon said.
Persons: Patchareeporn, Greg Brannon, Brian Moody, Autotrader, Moody, Brannon, Hopper, Alistair Berg, Digitalvision, Kelley, KBB, Autotrader's Moody Organizations: AAA, Toyota, Allianz Travel, Finance, Car, Getty, Allianz, State
In fact, when it comes to side hustles online, there are numerous straightforward options you could dive into immediately. Here are three easy online side hustles to consider. Sites like Respondent and User Interviews help these companies collect feedback by paying people to share their opinions. User Interviews works similarly. Some User Interviews tests pay via PayPal but many pay with gift cards to Amazon, Target, and other retailers, according to Sidehusl.com.
Persons: they've, Sidehusl.com Kathy Kristof, Kristof, You'll, There's Organizations: PayPal, Target Locations: Cambly
OpenAI and Time magazine on Thursday announced a "multi-year content deal" that will allow OpenAI to access current and archived articles from more than 100 years of Time's history. OpenAI's use of Time's content will feature a citation and link back to the original source, the release said. In December, The New York Times filed a lawsuit against Microsoft and OpenAI, alleging intellectual property violations related to its journalistic content appearing in ChatGPT training data. Martin and Jodi Picoult, sued OpenAI alleging copyright infringement in using their work to train ChatGPT. In July, two authors filed a similar lawsuit against OpenAI, alleging that their books were used to train the company's chatbot without their consent.
Persons: Reddit, OpenAI, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult Organizations: Microsoft, OpenAI, News Corp, Street, The New York Post, The New York Times, Southern, of Locations: The, U.S, of New York
The news industry just gained a powerful ally in its effort to take on OpenAI. The Center for Investigative Reporting, the country's oldest nonprofit newsroom, sued OpenAI and lead backer Microsoft in federal court on Thursday for alleged copyright infringement, following similar suits from publications including The New York Times , Chicago Tribune and the New York Daily News. In December, The New York Times filed a suit against Microsoft and OpenAI, alleging intellectual property violations related to its journalistic content appearing in ChatGPT training data. Martin and Jodi Picoult, sued OpenAI last year, alleging copyright infringement in using their work to train ChatGPT. Reddit also announced in May that it will partner with OpenAI, allowing the company to train its AI models on Reddit content.
Persons: Sam Altman, OpenAI, OpenAI's, chatbot, Defendants, Monika Bauerlein, Bauerlein, Mother Jones, ChatGPT, Microsoft didn't, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult, Reddit Organizations: Softbank Ventures, Center, Investigative, Microsoft, New York Times, Chicago Tribune, New York Daily News, of, The New York Times, Times, Southern, The Chicago Tribune, OpenAI, Time, News Corp, Wall Street, Barron's, New York Post, Apple Locations: Softbank Ventures Asia, Seoul, South Korea, Southern, of New York, U.S
What Is a Wire Transfer?
  + stars: | 2024-05-30 | by ( Cheryl Lock | Sophia Acevedo | Read More | ) www.businessinsider.com   time to read: +8 min
There are two ways to wire money: through a bank or through a wire service. How wire transfers workThe process of initiating a wire transferWire transfers typically come in two forms: a transfer between banks or through a money service, like Western Union. In general, a bank account wire transfer tends to cost less than using a service like Western Union. A wire transfer is a secure, electronic transfer of funds from one bank account to another. It's always good practice to review the recipient's information before initiating a wire transfer, and only send money to people you trust because it's difficult to reverse or cancel a transfer.
Persons: Cheryl Lock Cheryl Lock, Read Organizations: Western, Union, ABA, U.S, Network, USA, Forbes, MarketWatch, Twitter, LinkedIn Locations: Western Union, Union, U.S, Denver
on Wednesday announced a "multi-year global partnership" that will allow OpenAI to access current and archived articles from News Corp.'s outlets, including The Wall Street Journal, MarketWatch, Barron's, The New York Post and more. As part of the deal, OpenAI will be able to display content from News Corp.-owned outlets within its ChatGPT chatbot, in response to user questions. The news follows Reddit's announcement on Thursday that it will partner with OpenAI, allowing the ChatGPT maker to train its AI models on Reddit content. As part of that deal, OpenAI will gain access to Reddit's Data application programming interface, or API, "which provides real-time, structured, and unique content from Reddit," according to a release. Google announced a similar partnership with Reddit in February, allowing the company to train its AI models, such as Gemini, on Reddit content via access to the platform's API.
Persons: Sam Altman, Robert Thomson, OpenAI, Reddit, Mira Murati, Murati Organizations: Economic, News Corp, Wednesday, Street, The New York Post, News, Google, Reddit Locations: Davos, Switzerland, OpenAI, The, OpenAI's
News Corp, the Murdoch-owned empire of publications like The Wall Street Journal and The New York Post, announced on Wednesday that it had agreed to a deal with OpenAI to share its content to train and service artificial intelligence chatbots. News Corp said the multiyear agreement would allow OpenAI to use current and archived news content from News Corp’s major news outlets, including brands in the United States, United Kingdom and Australia as well as MarketWatch and Barron’s. The agreement does not include content from News Corp’s other businesses, such as its digital real estate services or HarperCollins. The Wall Street Journal reported the agreement could be worth as much as $250 million over five years, citing unnamed sources. A News Corp spokesman declined to comment on the reporting.
Persons: Murdoch, OpenAI, , ” Robert Thomson, Sam Altman, , ” Mr, Altman Organizations: Corp, Street, The New, The New York Post, . News Corp, HarperCollins, News Corp, Street Journal Locations: The New York, United States, United Kingdom, Australia
Fiske, 24, was drafted by the Los Angeles Rams in the second round of the 2024 NFL Draft on Friday evening. "I had never been around that much money," Fiske told MarketWatch last month. Together, they've discussed "how my financial life is going to change" upon signing an NFL contract, Fiske noted. "I'm putting money into mutual funds, index funds, high-yield savings accounts and maybe exploring new investment opportunities, too," he said, adding: "I also have a Roth IRA ... But that doesn't mean he won't splurge on a fun purchase: He's an avowed fan of Nike's Air Jordan 1 sneakers, for example.
Persons: Braden Fiske, , Fiske, you've, they've, Roth, he's Organizations: Los Angeles Rams, Florida State University, FSU, NFL, Roth IRA, Air, Honda Accord, CNBC
That would mean a likely contract of around $8 million over four years, including a $2.7 million signing bonus, according to MarketWatch . The idea of young athletes reaping instant riches has long been an annual subplot of the NFL draft. The money I received gave me a peace of mind I did not have previously," Fiske told Business Insider. Though he made some savvy choices, Fiske admitted he made "a few mistakes" early on after receiving his NIL money. "I'm sure I'll give in once I see more 0s on my account," Fiske told MarketWatch.
Persons: Fiske, Braden Fiske, he's, He's, he'll Organizations: Honda Accord, Florida State University, NFL, NCAA, FSU, Business, IRA, Air, CNBC Locations: Detroit
Things keep getting worse for Tesla
  + stars: | 2024-04-09 | by ( Grace Kay | ) www.businessinsider.com   time to read: +3 min
Tesla might be facing another difficult quarter, Baird analysts warn. The carmaker reported a drop in its delivery numbers for the first time since 2020 last week. "We think Q1 results will be messy due to several one-time items and continue to believe Q2 estimates are likely still high," Kallo wrote, according to MarketWatch. "We speculate Tesla likely unveils both a robotaxi and a $25k vehicle," Kallo wrote. Tesla's stock dipped more than 5% on the day the delivery numbers were released and it's down more than 29% year to date.
Persons: Tesla, Baird, , Robert W, Ben Kallo, Kallo, Elon Musk's, Musk, Tesla's Organizations: Service, MarketWatch, Bloomberg, Reuters, Tesla Locations: Delaware, Berlin
Jamie Dimon and Ray Dalio told WSJ that the US economy's performance has surprised them. AdvertisementChase CEO Jamie Dimon and billionaire hedge-fund founder Ray Dalio appear to be hedging on their doom-and-gloom predictions for the US economy after warning for some time that a recession was imminent. In September 2022, Dalio told MarketWatch that, as stocks and bonds suffer, the US will likely slide into a recession in 2023 or 2024. Advertisement"I was bearish on the economy," Dalio told The Wall Street Journal. Dimon told the newspaper that he "would have thought some of the fiscal stimulus would have worn off by now."
Persons: Jamie Dimon, Ray Dalio, , Dalio, Dimon, Andrew Hollenhorst, David Rosenberg, CNBC's Organizations: Service, CNBC, Wall Street, Citi's, Rosenberg Research Locations: Ukraine
Oprah Winfrey will not seek reelection to the board of WW International, known as WeightWatchers. It was a surprising time to jump on board — WeightWatchers had been shedding users, and its stock price was dwindling. AdvertisementDespite not naming the brand, there was an immediate spike in demand for GLP-1 medications — the popular new class of weight-loss drugs. That same day, WW added a weight-loss drug arm to its business, acquiring Sequence, a service that provides weight-loss drugs. AdvertisementLong-term, WW needs to find a new identityOver time, WW will benefit from being a purveyor of hard-to-access weight-loss drugs.
Persons: Oprah Winfrey, , Oprah giveth, Oprah taketh, maven, Winfrey, — WeightWatchers, Axios, Oprah, Forbes, Craig, Alex Fuhrman, Winfrey's, We're, Atkins Organizations: WW International, Service, SEC, Guardian, People Magazine, MarketWatch, Mayo Clinic, Business, Smithsonian's National Museum of, CNBC, Slate Locations: GLP, WeightWatchers
Only one digital health startup went public in the US in 2022 — digital therapeutics company Akili Interactive, whose shares have since crashed a whopping 97%, per MarketWatch. Not a single healthcare startup went public last year. ArriVent Biopharma went public a few days later, bringing in $175 million. AdvertisementIndustry experts remain skeptical about whether the public markets will be ready for a successful healthcare IPO this year. Business Insider has identified seven startups that could be considering an IPO as the markets reopen, based on conversations with top VCs and bankers and public filings.
Persons: , Metagenomi, ArriVent Biopharma Organizations: Service, Business, Akili Interactive, Alto Neuroscience, Oncology, BrightSpring Health Services, KKR, Walgreens, Industry
This means interest rates are likely to stay at higher levels for longer. AdvertisementMarkets are far too optimistic about the prospects of interest rate cuts — because inflation is still above the Federal Reserve's target, an asset manager told MarketWatch. AdvertisementLower interest rates boost demand for loans, spurring investment and spending, while higher rates have the opposite effect. The Fed slashed benchmark interest rates to boost the US economy amid the Great Recession until they hit the range of 0% to 0.25% at the end of 2008. Interest rates were once again slashed to near-zero in March 2020 when the economy was hit by the pandemic.
Persons: SEI's James Solloway, , James Solloway, Solloway Organizations: Service, SEI, Fed, Labor Locations: Pennsylvania
Shares of Meta Platforms are approaching the $1 trillion mark after its stock price gained 200% in 2023. Meta's market cap is now $966.60 billion, which means it's $33.4 billion away from the prized $1 trillion milestone. Microsoft is currently leading the pack with a market cap of $2.93 trillion. In the third quarter of 2023, Meta reported strong earnings that beat analysts' estimates. They would need to close at $389.13 for the company's market cap to hit the trillion-dollar mark, according to a MarketWatch calculation.
Persons: , Meta, Mark Zuckerberg Organizations: Service, Business, Big Tech, Microsoft, Apple, Nvidia, Dow, Market, Meta, Bloomberg
Former President Donald Trump said Wednesday that the stock market is doing well at the moment. If he loses in 2024, he said "I think the stock market would crash." AdvertisementRepublican former President Donald Trump said he believes the only reason the stock market's performing well is because of his success in the polls. At the town hall, Fox News host Bret Baier brought up a recent comment from Trump about the stock market. And I think frankly, if I didn't win, I think the stock market would crash, I believe."
Persons: Donald Trump, he's, Biden, , Trump, Ron DeSantis, Nikki Haley, Bret Baier, Herbert Hoover, Joe Biden, they'd Organizations: Service, Republican, Fox News, Florida Gov, South Carolina Gov, Trump, Democratic, Biden, Dow Jones, White Locations: Iowa
International oil buyers are purchasing more US shale amid attacks on commercial ships in the Red Sea, said a Mizuho analyst. US petroleum exports rose by 35% on-week to nearly 5.3 million barrels a day for the week ended December 29. Oil prices have not been getting much of a boost from the Red Sea attacks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe ongoing attacks on commercial ships in the Red Sea by Iran-backed Houthi rebels are causing chaos for the world's supply chains — but American oil exports appear to be benefiting from them.
Persons: , Robert Yawger Organizations: Service, EU, Mizuho Securities USA, Business Locations: Red, Mizuho, Red Sea, Iran
The stock market is boring right now, and that is not a bad thing. There's a strong backdrop going into December. The S & P 500 was up 8.9%, its best month since July 2022, and the fourth-best November since 1950. If it doesn't seem that way, it's because the S & P has been flat for the past week and a half. There will be lots of complaints about high valuations, and the cynics will be right: The S & P is approaching 19-times 2024 earnings.
Persons: Goldman Sachs, Morgan Stanley, let's Organizations: Triple Witching, Treasury, Atlanta, Wall Street, Deutsche Bank, BMO Capital Markets, Capital Markets, Bank of America, Barclays, Goldman, UBS Global Wealth, Wells, Wells Fargo Securities, JPMorgan, Dow, Revenue Locations: Wells Fargo
We are closing out an extraordinary month: The S & P 500 is up nearly 9%, its fourth-best month in 12 years. The equal weight S & P 500 is up almost as much as the market-cap weighted S & P 500. Of the 10 major financial firms, only two (Morgan Stanley and JP Morgan) see the S & P 500 lower next year. Wall Street strategists' year-end S & P 500 estimates . That puts the S & P 500 at a very rich multiple of almost 19 times forward earnings (17x is the historic norm).
Persons: Russell, Morgan Stanley, JP Morgan, Goldman Sachs, Morgan, bullish, Brian Belski, Scott Wren, Wren, That's, JP Morgan's, Dubravko Organizations: Wall, Deutsche Bank, BMO Capital Markets, Capital Markets, Bank of America, Barclays, Goldman, UBS Global Wealth, Wells, Wells Fargo Securities, Treasury, Core PCE, Wells Fargo Institute, CNBC Locations: Wells Fargo, Atlanta
Not surprisingly, Wall Street tends to be a bullish group. Wall Street has a terrible track record All of this gets investor juices flowing. Wall Street strategists collectively have a terrible track record. As a result, you might be tempted to think you should pay no attention to Wall Street, or anybody else. If nothing else, the predictions of Wall Street strategists are a good starting point for all of us to think about the near future.
Persons: Lori Calvasina, America's Savita Subramanian, Morgan Stanley's Michael Wilson, Goldman Sachs, Morgan Stanley, Jeff Sommer, Sommer, Morgan Housel, I'm Organizations: Deutsche Bank, BMO Capital Markets, RBC Capital Markets, Bank, America's, Wall Street, of America, Barclays, UBS, Wealth, Wells, Wells Fargo Securities, Street, New York Times, Yardeni Research, Federal Reserve, Wall Locations: Wells Fargo, Russia, Ukraine, Israel
There are now more central banks cutting rates than those hiking rates, per a Deutsche Bank analysis. For the first time since January 2021, there are more central banks cutting rates than those hiking them, according to an analysis by Jim Reid, a research strategist at Deutsche Bank, MarketWatch reported on Tuesday. The trend started last month, with 10 central banks cutting rates — outnumbering those that hiked rates in the same time period, according to Reid's analysis of 81 central banks around the world. The trend continued this month with five central banks — including include those in Brazil and Peru — cutting rates so far. AdvertisementWhile major central banks like the US Federal Reserve and the European Central Bank are keeping rates steady right now, there are bets that they, too, will start to hike rates in the months ahead.
Persons: , Jim Reid, Reid, That's Organizations: Deutsche Bank, Service, MarketWatch, US Federal Reserve, European Central Bank, UBS Locations: Brazil, Peru, Swiss
Billionaire investor Ron Baron told CNBC on Friday that he expects SpaceX to IPO its Starlink satellite internet service "in 2027 or so." "We think that by the time they go public with SpaceX, with Starlink … in 2027 or so, four years, the company will be worth $250 billion to $300 billion," Baron said, speaking to CNBC's Andrew Ross Sorkin. Earlier this month, Baron told MarketWatch his eponymous firm's ownership of SpaceX stock was currently valued at about $1.7 billion. Last year, Musk told employees that taking the business public wasn't likely until 2025 or later. SpaceX's valuation has soared to about $150 billion, with Starlink seen as a key economic driver of the company's goals.
Persons: Ron Baron, Starlink …, Baron, CNBC's Andrew Ross Sorkin, SpaceX didn't, Musk, Starlink Organizations: CNBC, SpaceX Locations: Elon
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