Unusual Whales

Prices of motor-vehicle insurance rose 20.3% in December from a year earlier, the biggest jump since 1976

Prices of motor-vehicle insurance rose 20.3% in December from a year earlier, the biggest jump since 1976, per Bloomberg. U.S. car owners are unlikely to find relief from the escalating costs of maintaining a vehicle, as motor-vehicle insurance prices surged by 20.3% in December compared to the

The Fed has to start cutting rates to avoid tipping the economy over, and 8 cuts are coming in the next 2 years, Bank of America, $BAC, chief Brian Moynihan has said

The Fed has to start cutting rates to avoid tipping the economy over, and 8 cuts are coming in the next 2 years, Bank of America, $BAC, chief Brian Moynihan has said per BI. Bank of America CEO Brian Moynihan has suggested that the Federal Reserve might reduce interest rates

A California restaurant operator of FatBurger is preparing for the $20-an-hour fast-food wage by trimming hours, eliminating employee vacation, and raising menu prices

A California restaurant operator of FatBurger is preparing for the $20-an-hour fast-food wage by trimming hours, eliminating employee vacation, and raising menu prices, per BI. Meanwhile, McDonald’s, $MCD, and Chipotle are increasing menu prices after California raises fast-food minimum wage, per CNBC. McDonald’s and Chipotle Mexican Grill are

Burger King workers now have to give you a crown and say "you rule"

Burger King workers now have to give you a crown and say "you rule," per Bloomberg. Burger King is prioritizing positive experiences over order speed in its latest approach to customer satisfaction. The fast-food chain encourages its restaurants to focus on creating a cheerful atmosphere, exemplified by offering

Bank credit is shrinking for the first time since the Great Recession

According to the Board of Governors of the Federal Reserve System, bank credit levels have experienced a decline for three consecutive quarters, marking the first sustained contraction since 2010. This represents only the second such decrease in over fifty years, with the previous occurrence taking place during the Great Recession

Amazon, $AMZN, employees fear that the company is using 'quiet firing' tactics and a 'brain drain'

Amazon, $AMZN, employees fear that the company is using 'quiet firing' tactics and a 'brain drain,' per BI. Since late 2022, Amazon has reportedly laid off over 27,000 employees, and concerns are emerging about the company employing a strategy known as "quiet firing"

The housing market is breaking out of mortgage rate lock as a wave of sellers look poised to list their homes in the coming years

The housing market is breaking out of mortgage rate lock as a wave of sellers look poised to list their homes in the coming years, per Zillow. Zillow suggests that the housing market is gradually loosening its grip on the impact of elevated mortgage rates, potentially leading to an influx

FTX has sold 22 million shares worth close to $1 billion in Grayscale Bitcoin Trust since it was converted into an exchange-traded fund earlier this month, taking FTX's GBTC ownership down to zero

FTX has sold 22 million shares worth close to $1 billion in Grayscale Bitcoin Trust since it was converted into an exchange-traded fund earlier this month, taking FTX's GBTC ownership down to zero, per Reuters. FTX has reportedly divested nearly $1 billion in Grayscale Bitcoin Trust (GBTC), selling

Terraform Labs files Chapter 11 bankruptcy in Delaware

Terraform Labs files Chapter 11 bankruptcy in Delaware, per Reuters. Terraform Labs, the firm responsible for the stablecoin TerraUSD, whose collapse shook the cryptocurrency markets in 2022, has filed for Chapter 11 bankruptcy in the United States, as per court documents submitted on Sunday. In a filing to the bankruptcy

Ron Desantis drops out of Republican Presidential run and endorses Donald Trump

Ron Desantis drops out of Republican Presidential run and endorses Donald Trump. The decision comes just two days before the New Hampshire primary. DeSantis conveyed the announcement in a video on X — the same social media platform where he launched his White House bid. “Now, following our second-place finish in

Per MarketWatch: Investors encouraged to consider the ‘unthinkable’: no Fed rate cuts in 2024.

Per MarketWatch: Investors encouraged to consider the ‘unthinkable’: no Fed rate cuts in 2024. A prominent Wall Street bank is exploring a scenario it deems "extreme," in which no Group of 10 central bank lowers interest rates this year due to persistent inflation, robust economic growth, or unforeseen

Trump will move markets more than the Fed

Trump will move markets more than the Fed, per Bloomberg. The US election, more than any other event this year, is poised to significantly impact markets, potentially surpassing the influence of actions taken by the Federal Reserve. Notably, Donald Trump secured a victory in the Iowa caucuses, consolidating his position

Trump pledges to prohibit the Federal Reserve from issuing a crypto coin

Trump pledges to prohibit the Federal Reserve from issuing a crypto coin,, per Bloomberg. "Tonight, I am also reiterating my commitment to shield Americans from government tyranny," Trump declared on Wednesday in New Hampshire ahead of the state's upcoming primary election. "As your president, I

Jeff Bezos made over $7.9 million an hour every hour in 2023; in under 13 minutes, he brought in the equivalent of what the typical person earns in a lifetime

Jeff Bezos made over $7.9 million an hour every hour in 2023; in under 13 minutes, he brought in the equivalent of what the typical person earns in a lifetime, per Benzinga. Read full article: https://finance.yahoo.com/news/jeff-bezos-made-over-7-172628289.html#:~:text=To%20put%20this%20into%20perspective,in%

The IRS says it has collected an additional $360 million in overdue taxes from delinquent millionaires

The IRS says it has collected an additional $360 million in overdue taxes from delinquent millionaires, per AP. The IRS reports an additional $360 million in recovered overdue taxes from delinquent millionaires as part of ongoing efforts to modernize the agency using funds from the Inflation Reduction Act. Agency leaders

The top housing markets of 2024, per Zillow

Buffalo, New York is anticipated to lead as the most robust housing market in 2024, as per an analysis by real estate firm Zillow. Zillow emphasized affordability as the primary factor influencing real estate, propelling lower-cost markets in the Great Lakes, Midwest, and South regions to the forefront of its

Sports Illustrated’s publisher lays off entire staff

The information, initially disclosed by Front Office Sports, emerged within a day of The Arena Group, the publisher, revealing a substantial reduction in its workforce, affecting 100 employees. Arena attributed the layoffs to extensive debt management and recent missed payments, describing the move as part of cost-cutting measures to implement

Biden administration to forgive $4.9 billion in student debt for 73,600 borrowers

Biden administration to forgive $4.9 billion in student debt for 73,600 borrowers, per CNBC. The alleviation comes as a result of corrective measures undertaken by the U.S. Department of Education to address issues within its income-driven repayment plans and the Public Service Loan Forgiveness program. U.S.

A grand jury has indicted actor Alec Baldwin on manslaughter in the fatal 2021 shooting on his movie set "Rust"

Although not financially related, a grand jury has indicted actor Alec Baldwin on manslaughter in the fatal 2021 shooting on his movie set "Rust". Prosecutors presented the case before a Santa Fe grand jury this week, led by special prosecutors who initiated proceedings after receiving a new analysis

Walmart, $WMT, is raising averge store manager wages from $117,000 to $128,000, with store manager bonusus could now be up to 200% base pay

Walmart, $WMT, is raising averge store manager wages from $117,000 to $128,000, with store manager bonusus could now be up to 200% base pay, per Reuters. In addition to implementing a 9% salary increase, Walmart has announced a "redesign" of its bonus program for managers. The

Macy’s, $M, to cut about 2,350 jobs, 13%, and close five stores

Macy's is set to eliminate around 2,350 positions, encompassing roles in its corporate office and stores, as part of a strategic shift to adapt to evolving consumer and market demands. The decision aims to streamline the company, with affected employees being notified on Thursday and the last

The US national office vacancy rate is at an all time at 19.6%

The US national office vacancy rate is at an all time at 19.6%, per Moody's. US office vacancies nationwide hit a record high in the fourth quarter of last year, per Axios. San Francisco metro area had the most office square feet vacated in the US in

Fewer than half of all boomers have saved enough for retirement; their kids are going to pay the price

Fewer than half of all boomers have saved enough for retirement; their kids are going to pay the price, per BI. 56 million Americans over 65 make up just 17% of the US population, but they hold more than half of America's wealth, at $96.4 trillion, per

Home prices are rising faster and faster each month, fueled by a decline in mortgage rates

Home prices are rising faster and faster each month, fueled by a decline in mortgage rates, per CNBC. At the national level, home prices experienced a notable 5.2% surge in November compared to the same month the previous year, as reported by analytics firm CoreLogic. This reflects an increase

Americans are sour on Biden's handling of the economy; the media may be to blame

Americans are sour on Biden's handling of the economy. The media may be to blame, per NPR. Public sentiment toward Biden's economic management has soured, and some attribute this shift to media coverage. Despite employment staying below 4% for an exceptional two-year period and wage increases