Unusual Whales

Households expect mortgage rates to rise to 8.7% a year from now and increase to 9.7% in three years’ time

Households expect mortgage rates to rise to 8.7% a year from now and increase to 9.7% in three years’ time. U.S. households expect home prices to increase 5.1% over the next 12 months, up from an expected 2.6% increase at the same time last year,

Microsoft’s, $MSFT, AI chatbot will have ‘photographic memory’ of everything you do on a PC

Microsoft’s, $MSFT, AI chatbot will have ‘photographic memory’ of everything you do on a PC, per MW. The software giant revealed a new class of AI-imbued personal computers on Monday as it faces intensified competition from Big Tech rivals in promoting generative AI technology that can compose documents, create

Canada's standard of living on track for worst decline in 40 years

Canada's standard of living on track for worst decline in 40 years. When a country experiences a population surge like Canada has, economists argue that measuring GDP per person provides a better picture of its standard of living. According to a new study by the Fraser Institute, this

Middle-class earners are the most targeted group for IRS audits

Middle-class earners are the most targeted group for IRS audits, per Moneywise. In fact, 63% of new audits as of Summer 2023 targeted taxpayers with incomes of less than $200,000, according to figures compiled by The Wall Street Journal’s editorial board, which dubbed the $200,000 earner the

Scarlett Johansson says that OpenAI asked her to be the voice behind ChatGPT — but that when she declined, the company went ahead and created a voice that sounded just like her

OpenAI co-founder Sam Altman is facing an unexpected adversary, Hollywood actress Scarlett Johansson, who has become embroiled in a dispute over the voice used for the ChatGPT text-to-speech product. According to reports from the New York Times, Johansson revealed that Altman had approached her in September to lend her voice

JPMorgan, $JPM, CEO Jamie Dimon has suggested he may retire early

JPMorgan, $JPM, CEO Jamie Dimon has suggested he may retire early. During JPMorgan Chase's annual investor day, CEO Jamie Dimon indicated to analysts and investors that he's likely to step down from his role within the next five years as the company's succession plan

Millennial net worth is at an all time high

Millennial net worth is at an all time high, per BI. A recent study by the Center for American Progress, a progressive think tank, examined changes in wealth across various age groups between 2019 and 2023 using data from the Federal Reserve's Distributional Financial Accounts. The report delivered

The Fed will spark an economic crash by delaying rate cuts

The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief has said. The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she

SEC now appears more likely to approve spot Ethereum ETFs

The Securities and Exchange Commission (SEC) staff informed exchanges on Monday that the agency is "leaning" toward approving spot ether ETFs, according to a report in Barron's that cited anonymous sources. "What changed is that SEC staff on Monday told exchanges where the products would

Independent Presidential Candidate Robert F Kennedy Jr has bought $24,000 in GameStop, $GME, and said he is supporting "retail rebellion and [will] enact aggressive Wall Street reforms"

He said: I’m very aware of what the average retail investor has been saying about the need for greater transparency in our markets, stronger regulatory oversight and tougher penalties for market manipulation and criminal behavior. My administration will support the Ape retail rebellion and enact aggressive Wall Street reforms.

It’s now cheaper to rent than buy in all 50 of the top metros nationwide

It’s now cheaper to rent than buy in all 50 of the top metros nationwide, per Bankrate. If you're deciding whether to rent or buy a home right now, renting is generally the more cost-effective option in most major U.S. cities, according to a new analysis

EA is looking at putting in-game ads in AAA games

EA is looking at putting in-game ads in AAA games, per Toms Hardware. EA CEO Andrew Wilson has confirmed that the company is considering incorporating ads into traditional AAA games—those that players typically purchase up-front for around $70. During the Q&A segment of EA’s latest earnings

One out of every 24 New York City residents is now a millionaire

Despite discussions about a significant exodus of wealthy individuals from New York, the city's residents still possess more wealth—exceeding $3 trillion—than those in any other metro area globally. New York boasts nearly 350,000 millionaires, the highest number of any city, marking a 48% increase from

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 who

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 and isolating

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-inspired

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 loss

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 to

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