The Washington, D.C., City Council is considering a controversial proposal to eliminate the tax exemption on interest on out-of-state municipal bonds. This move, aimed at increasing revenue for the district, has sparked a debate between the council and Mayor Muriel Bowser, who is firmly against further tax hikes. In a letter to Council Chair Phil
Thursday’s biggest calls on Wall Street saw a wide range of upgrades, downgrades, and initiations from various firms. These calls covered companies across different sectors, including healthcare, technology, finance, and more. Each call provided unique insights into the potential growth or challenges faced by the companies in question. Let’s analyze the key points from these
The Metropolitan Washington Airports Authority (MWAA) is preparing to issue $829.4 million of airport system revenue and refunding bonds. This issuance includes both refunding opportunities totaling around $400 million and new money issues amounting to about $429 million. The new money will be utilized to fund the ongoing capital construction program of the authority. BofA
Asian markets saw a decline in their currencies on Thursday as the US dollar saw a rise to two-week peaks. This increase came amidst caution as investors awaited key cues on US inflation and interest rates in the coming days. The Federal Reserve’s recent hawkish signals have left regional currencies reeling, as officials emphasize the
Galxe, a leading onchain distribution platform in the web3 space, has revealed its plans to launch Gravity, a groundbreaking Layer 1 omnichain smart contract platform. This innovative platform is set to revolutionize how users and developers interact with web3, addressing the growing need for more efficient, scalable, and secure solutions for managing complex cross-chain interactions.
Nvidia, a major beneficiary of artificial intelligence technology, recently reported impressive financial results. However, in the days following the earnings report, the stock price has surged by approximately 20%. Year-to-date, the shares have more than doubled, rising by around 120%. As a result, Nvidia is now valued at $2.8 billion, positioning the graphics processing unit
The meme stock rally may have ebbed, but GameStop has once again emerged as a short-interest favorite in the market. As of the middle of the month, short interest in GameStop soared by 6% to more than 68 million shares, representing over 25% of its float. This resurgence came after “Roaring Kitty,” the retail investor
The Water Resources Development Act of 2024 has recently passed a key Senate committee, showcasing a significant shift towards advancing a pilot public-private partnership program initially proposed by the Army Corps of Engineers a decade ago. This latest bill marks a crucial moment in the realm of water project delivery methods, signaling a growing interest
The recent increase in mortgage rates has had an immediate impact on the mortgage demand that had been steadily increasing over the past few weeks. With the average contract interest rate for 30-year fixed-rate mortgages rising to 7.05%, the demand for mortgages has seen a decline. This increase in rates, although seemingly small, has caused
Dick’s Sporting Goods recently reported a strong first fiscal quarter, much to the surprise of Wall Street analysts. The big-box sports retailer saw a significant increase in comparable sales, surpassing expectations and demonstrating robust customer demand. The company’s earnings per share and revenue numbers also exceeded forecasts, leading to a positive outlook for the rest