Economy

National debt crosses $40 trillion in grim milestone

The national debt exceeded $40 trillion for the first time in history, leading economists to warn that the United States is staring down a fiscal reckoning.

Bessent moves to curb Treasury yields, putting new pressure on Warsh's Fed

Treasury's move to buy back more long-term debt cooled a bond selloff, but economists warn it could raise new inflation and independence questions for the Fed

Getting in on single-stock futures? Watch for these potential tax surprises

Single-stock futures are enticing for active retail traders, but they may come with unintended tax consequences.

Bessent doubles US debt buybacks in response to market stress

Treasury Secretary Scott Bessent announced Wednesday that the Treasury Department would at least double the size of its government debt buyback operations as the Trump administration seeks to contain rising borrowing costs.

Japan's bond market may be the canary in the coal mine for the AI stock rally

What starts in Japan and Europe may not stay there, as rising yields, fiscal pressures and energy-driven inflation increasingly reinforce each other.

OpenAI 'will be a public company in 2027' or sooner, CFO Friar tells employees

In an all hands meeting, Friar told employees not worry about rival Anthropic's IPO timeline.

Why we're giving off-price retailer TJX a pass for softness in its biggest division

Still, there was a lot to like about the quarter and what management had to say.

This fintech turned bank is winning with AI-powered lending and the right customers

The company's bank charter gives it access to low-cost deposits, allowing it to fund loans more efficiently and expand into other financial products.

Fed officials saw need for rate hike if inflation doesn't cool, minutes show

The Federal Reserve on Wednesday released minutes from its July 28-29 policy meeting.

Diesel in California Rises to $7 a Gallon as Wars in Europe and Middle East Strain Supply

Diesel prices are rising again just as farmers prepare for the harvest and freight transportation picks up ahead of the holiday shopping season.

A speakeasy inside a gas station is the hottest cocktail bar in a Minnesota town—the business brought in almost $5 million in a year

Tony Donatell turned an empty storefront next to a gas station into a sophisticated speakeasy, The Farmer's Cellar. Inside, it's still the "roaring twenties."

Why portfolio managers struggle to beat the market

Outperforming the stock market in the United States is difficult. Using the S&P 500, the benchmark index of U.S. equities, as the standard of performance, only 27% of actively managed large-capitalization equity funds beat the passive benchmark over the 12-month period ending June 30. Over the decade ending in June, just 13% of actively managed stock funds beat the broad S&P 500 index.