Unusual Whales

Over 1 in 3 U.S. homes are now bought with cash

The trend shows a general increase in cash purchases since 2020 with 34.5% of home purchases made with cash in February 2024. All-cash home purchases are increasing, according to new data from Redfin. Why it matters: Wealthy individuals can navigate this expensive market more easily than typical buyers

The U.S. opposes a proposed global wealth tax on billionaires, Treasury Secretary Janet Yellen has said

The U.S. opposes a proposed global wealth tax on billionaires, Treasury Secretary Janet Yellen has said The US will not back a global wealth tax on billionaires, according to Treasury Secretary Janet Yellen, rejecting a proposal put forward by Brazil, France, and other countries. Brazil, which holds the rotating

About 42% of those with household income of more than $100,000 report being behind or delinquent on buy-now-pay-later payments

Time and again, BNPL providers have resisted calls for greater disclosure, even as the market has grown each year since at least 2020 and is projected to reach almost $700 billion globally by 2028. This lack of transparency is obscuring the true financial health of American households, which is crucial

Los Angeles is the least affordable city in the country

To create its ranking, Creditnews used the median income for married households to determine the percentage of unaffordable neighborhoods. This figure was compared to the typical home value in each neighborhood, with areas deemed unaffordable if the monthly mortgage payment exceeded 25% of a couple’s household income. Among the

Federal Reserve Chair Jerome Powell tested positive for COVID-19 and is working from home

Federal Reserve Chair Jerome Powell tested positive for COVID-19 on Thursday and is currently working from home, according to a Fed spokesperson in an emailed statement. "Chair Powell tested positive for COVID-19 late yesterday and is experiencing symptoms," the statement said. He is working from home

U.S. State Department has issued a worldwide travel alert, warns of terror threat against LGBT events

U.S. State Department has issued a worldwide travel alert, warns of terror threat against LGBT events. The U.S. State Department issued a "Worldwide Caution" alert on Friday, advising U.S. citizens abroad to exercise increased vigilance due to "the increased potential for foreign terrorist organization-

Citron Research's Andrew Left has said he is short GameStop, $GME, again

Citron Research's Andrew Left has said he is short GameStop. $GME, again. Left, one of Wall Street's most vocal GameStop short-sellers, announced he would close out a remaining small position in the company. "Covered the majority of the short in the $90s at a

Homebuyers need to earn $113,520 a year to afford the typical house in the U.S. — 35% more than what the typical household earns annually, which is $84,072

February 2021 was the last month when the typical household earned more money than it needed to afford the median home. There’s been a deficit ever since, Zhao said. “That deficit hit a peak in October of 2023,” she added. “The reason why it hit a peak then is

Novo Nordisk, the maker of Ozempic and Wegovy, is now Europe’s most valuable company

The development of semaglutide, a key ingredient in certain medicines, has transformed its maker, Novo Nordisk, into Europe’s most valuable company, with profound implications for Denmark, its home country. Novo’s market capitalization, exceeding $570 billion, surpasses the Danish economy. Its philanthropic foundation is now the world’s largest,

President Joe Biden has blocked the release of audio recordings of his interviews with the special counsel who investigated his handling of classified documents

President Joe Biden has blocked the release of audio recordings of his interviews from the investigation into his handling of classified files, asserting executive privilege, according to a letter from the Justice Department to Republicans in Congress. The Republicans had demanded the release of the president's interviews with

In New York City, rents grew more than seven times faster than wages last year — the largest gap in the country

A recent analysis of rental and wage data compiled by Zillow and StreetEasy, with additional research from the Bureau of Labor Statistics, revealed that rent rates in New York City are increasing seven times faster than wages. This disparity is putting pressure on middle-class New Yorkers and prompting many

The Department of Justice plans to issue a notice of proposed rulemaking that would reclassify marijuana to a less restrictive category

The Department of Justice is set to announce a proposed rule on Thursday that would reclassify marijuana to a less restrictive category, according to two Biden administration officials familiar with the decision. This move is part of the rescheduling process initiated by President Joe Biden in October 2022 and is

Connecticut is the state with the highest number of OnlyFan creator accounts, with 2464 accounts

Connecticut is the state with the highest number of OnlyFan creator accounts, with 2464 accounts Connecticut has been dubbed "Kinky Connecticut," as it reportedly boasts the highest number of OnlyFans creators in the United States, according to recent research into the adults-only subscription site. Sex toy company

Americans bracing for mortgage rates as high as 10%

Americans bracing for mortgage rates as high as 10%. Americans are once again preparing for another round of increased housing costs, as renters increasingly believe they may never be able to afford a home, according to the Federal Reserve Bank of New York on Monday. In its latest Survey of

US will provide an additional $2 billion in foreign military financing to Ukraine

US will provide an additional $2 billion in foreign military financing to Ukraine. Ukrainian forces retreated from some parts of the country’s northeast and engaged in battle with Russian troops in other areas on Wednesday, highlighting the severity of the threat faced by President Volodymyr Zelensky's soldiers

Trump and Biden both agree to debate each other on September 10

President Joe Biden and former President Donald Trump have agreed to participate in general election debates on June 27 and Sept. 10, putting an end to speculation about whether there would be debates for the 2024 general election. CNN will host the first debate in late June at 9 p.

iPhone, $AAPL, owners say the latest iOS update is resurfacing deleted nudes

iPhone, $AAPL, owners say the latest iOS update is resurfacing deleted nudes. iPhone users have been left unsettled by a strange glitch this week, with several reporting that pictures deleted years ago are resurfacing on their devices. The problem seems to be connected to the iOS 17.5 update, which

RenTech, a hedgefund, bought 1 million GameStop, $GME, shares at the end of March

RenTech, a hedgefund, bought 1 million GameStop, $GME, shares at the end of March. Renaissance Technologies held 1 million shares of the video-game retailer at the end of March, valued at $13 million, according to its first-quarter portfolio update. GameStop's stock surged over 400% at its

Red Lobster filing for bankruptcy as early as next week

Red Lobster filing for bankruptcy as early as next week, per WSJ. Sources familiar with the situation informed the Journal that the company, burdened with hundreds of millions in debt, intends to file a Chapter 11 bankruptcy petition in Orlando before Memorial Day. In April, Bloomberg reported that the restaurant

At $2 million per minute, Treasuries are minting cash like never before

For the first time in nearly a generation, fixed income investments are truly living up to their name. This change is largely due to benchmark rates in the US rising from 0% to over 5% in just two years. Amid the current focus on whether the Federal Reserve will cut

For the first time ever, half of younger renters — those under age 50 — don’t think they will be able to buy a home

US renters are feeling less optimistic about their chances of ever owning a home, and households' expectations of home-price growth have picked up again after a decline last year, according to a new survey from the Federal Reserve Bank of New York. The survey, conducted in February, revealed

Walmart, $WMT, is firing hundreds of corporate jobs and asking most remote workers to return to offices

Walmart, $WMT, is firing hundreds of corporate jobs and asking most remote workers to return to offices. Walmart Inc (WMT.N) announced on Tuesday that it intends to reduce its corporate headquarters' workforce and relocate most of its U.S. and Canada-based remote workers to three main offices,

Fed's Powell: my confidence in inflation moving back down is lower than it was

Fed's Powell: my confidence in inflation moving back down is lower than it was. Federal Reserve Chair Jerome Powell expressed optimism about the current state of the U.S. economy, foreseeing continued growth above trend and maintaining confidence in decreasing inflation, which, while shaken by recent data, remains

GameStop, $GME, shorts have lost approximately an estimated $2 billion in mark-to-market losses in two days

GameStop, $GME, shorts have lost approximately an estimated $2 billion in mark-to-market losses in two days. Holy, this trader turned thousands into millions with GameStop, $GME. This $GME trader got $25 call contracts expiring 05/17/2024 at an average of $0.21, for 27k. They peaked at

Trump's SEC Chair has argued SEC should halt trading in GameStop, $GME

Trump's SEC Chair has argued SEC should halt trading in GameStop, $GME. In an interview with CNBC on Friday, former SEC chair Clayton voiced his concerns about the recent surge in stock prices of GameStop and AMC. Clayton suggested that the recent stock surge resembles gambling more than