Why China’s digital yuan is ‘largest threat to the West’ in past 30 or 40 years, according to Kyle Bass

Kyle Bass, chief investment officer of Hayman Capital Management, says that the biggest threat to the West is the advent of the digital yuan, which he has described as a Trojan Horse that could undermine Western developed countries.

Lollapalooza returns to Chicago lakefront in July after pandemic pause

Lollapalooza, one of the U.S.’s largest annual multiday music festivals, is set to return to full strength in late July after a nearly two-year hiatus.

‘This has become the inequality virus’ — COVID-19’s next challenge is the growing divide between rich and poor economies

COVID-19 is reopening a rift between economies in the world’s richest and poorest nations, driven by growth rates that are moving firmly in opposite directions.

Wealthy people changed the way they gave to charity during the pandemic and banks are offering credit cards to people without credit scores — should you get one?

By Andrew Keshner Happy Tuesday MarketWatchers. Don’t miss these top stories. A new survey says 45% of Asian American adults have experienced an incident tied to their racial or ethnic background since the COVID-19 pandemic began. Read More ‘My father, who passed away in 2009, and my mother had a joint will leaving all they [...]

Oil futures fall as sources say API data show a weekly rise in U.S. crude supplies

The American Petroleum Institute reported late Tuesday that U.S. crude supplies inched up by 620,000 barrels for the week ended May 14, according to sources. The data, however, also reportedly showed gasoline stockpiles down by 2.8 million barrels, while distillate inventories fell 2.6 million barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, edged up by just 53,000 barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, the EIA is expected to show crude inventories down by 2.9 million barrels, according to a survey of analysts conducted by SP Global Platts. It also forecast a supply climb 600,000 barrels for gasoline, but a 200,000-barrel decline for distillates. June West Texas Intermediate crude was at $65.30 barrel in electronic trading, compared with Tuesday’s settlement at $65.49 on the New York Mercantile Exchange.

House Committee takes on AbbVie’s pricing, patents for top-selling drug Humira

AbbVie Inc.’s pricing practices for some of its top-selling medicines faced fresh scrutiny from federal lawmakers Tuesday, the latest effort by members of Congress probing the cost of prescription drugs.

Take-Two stock slips as outlook overshadows earnings beat

Take-Two Interactive Software Inc. shares slipped in the extended session Tuesday as the videogame publisher’s outlook overshadowed its big earnings beat for the quarter.

Banks are offering credit cards to people without credit scores — should you get one?

‘Most credit card issuers are still considerably more cautious now than they were pre-COVID.’

Dow ends nearly 270 points lower as tech shares lose steam in afternoon trade

Stocks ended lower Tuesday as a bounce for tech-related shares ran out of steam in afternoon trading. The Dow Jones Industrial Average fell around 267 points, or 0.8%, to close near 34,061, according to preliminary figures, while the SP 500 declined around 36 points, or 0.9%, to finish near 4,128. The Nasdaq Composite ended with a loss of around 75 points, or 0.6%, near 13,304. Stocks saw a mixed performance in early activity, with tech shares holding gains. A round of upbeat earnings from retailers were seen providing support but was offset by a weaker-than-expected reading on housing starts, analysts said.

Nasdaq Composite falls 0.6%

Dow ends off 0.8%; SP 500 notches a 0.9% loss Tuesday

Dow finishes Tuesday trade 270 points lower as losses in energy and communication services weigh on stock market

Forex traders take Fed at its word as popular currency index tests 3-month low

The ICE U.S. Dollar Index fell back below the 90 threshold on Tuesday, threatening to take out a nearly 3-month low as Federal Reserve officials largely stick to the message of easy monetary policy.

Should I sell my stocks so I can pay cash for a house?

Here are the pros and cons.

WATCH: Elon Musk reveals he has Asperger’s syndrome on ‘SNL’ — here’s why that’s raising some eyebrows

The Tesla CEO’s ‘Saturday Night Live’ episode scored the show’s third-highest ratings of the season

Chipotle says it can offer workers the chance for a six-figure salary in 3.5 years

The fast-casual chain announced a number of compensation incentives as it searches for new workers, including an increase in average hourly pay to $15.

ATT stock heads for worst day in 11 months as future dividend cut viewed as ‘somewhat surprising’

ATT Inc. shares are headed for their worst single-day performance in almost a year as investors continue to digest the company’s decision to reshape its business yet again with a spinoff of WarnerMedia to Discovery Inc.

Swimsuits and luggage are hot items as U.S. shoppers prepare for summer events with relaxed COVID restrictions

Retailers are highlighting the categories that are on the upswing as the vaccine rollout continues and stimulus cash drives sales.

Apple’s Phil Schiller takes grilling from Epic attorney on email trail

Sparks flew in Epic Games Inc.’s antitrust case Tuesday, when former Apple Inc. marketing chief Phil Schiller faced a grilling from Epic attorney Katherine Forrest over a series of internal emails among Apple executives that, Forrest argued, showed a clear intent by Apple to quell competition.

Oil futures settle lower on potential progress in Iran nuclear talks

Oil futures settled with a loss on Tuesday after a tweet from BBC Persia implied that progress had been made in the Iran nuclear talks, and said that important news regarding the talks would be announced by Wednesday. Mikhail Ulyanov, Russia’s envoy to the United Nations Security Council, tweeted that “significant progress” has been achieved, but “unresolved issues still remain.” U.S. oil prices had finished Monday at their highest in over two years, but the price rise has now been slowed in part by the “Iranian talk breakthrough rumors,” said Phil Flynn, senior market analyst at The Price Futures Group. June West Texas Intermediate crude fell 78 cents, or 1.2%, to settle at $65.49 a barrel on the New York Mercantile Exchange.

MGM Resorts stock rallies after J.P. Morgan analyst turns bullish after recent pullback

Shares of MGM Resorts International rallied 2.7% in afternoon trading Tuesday, after J.P. Morgan analyst Joseph Greff turned bullish on the casino operator, citing valuation and increasing momentum as its U.S. casinos. Greff raised his rating to overweight, after being at neutral for the past year, and lifted his stock price target to $47 from $45. The upgrade comes after the stock dropped 8.2% from the 13-year closing high of $42.20 on April 27 through Monday. Greff said the recent pullback has provided investors and opportunity to buy “with fundamentals continuing to inflect positively.” He believes that momentum is building at its casinos, particularly in Las Vegas, every week, which can drive positive estimate revisions. Last week, the Nevada Gaming Control Board approved the return to 100% occupancy with no social distancing at MGM’s Las Vegas Strip properties. Also, continued digital market share momentum with strong iCasino and sports betting share is another reason to be bullish, Greff said. The stock has rallied 26.3% year to date. In comparison, shares of Las Vegas Sands Corp. slipped 4.3%, Caesars Entertainment Inc. rallied 35.0% and DraftKings Inc. shed 3.9%, while the SP 500 has advanced 10.4%.

June WTI oil loses 78 cents, or 1.2%, to settle at $65.49/bbl

Bill Gates to speak at U.S. Chamber event on Wednesday

Billionaire Bill Gates is slated to speak Wednesday at a U.S. Chamber of Commerce event, with the Microsoft Corp. co-founder stepping into the spotlight following reports that have raised questions about his behavior.

Green jobs are the wave of the future

Solar in particular shows potential to create inclusive, well-paying union jobs that working Americans need