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Strategist who called 2023 rally sees S&P 500 at 5,200 next year

Business / Business News /

One of Wall Street’s biggest bulls estimates that the S&P 500 will hit 5,200 points next year to set a fresh record.

Oppenheimer Asset Management chief strategist John Stoltzfus, who correctly forecast this year’s rally, joins Fundstrat’s Tom Lee to hold among the most favorable outlook for 2024. Their target implies nearly 13% of gains ...Read more

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Not your parents' Medicare: Insurers cover Missouri seniors' hiking boots and tennis rackets

Business / Business News /

Insurers closed the books last week on another Medicare enrollment period — the annual, federally designated window when Americans 65 and older can make changes to their health plans.

If the trend of the past 15 years continues, when this year's numbers are analyzed they will show that even more seniors are opting into Medicare Advantage ...Read more

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December Fed meeting preview: 3 key questions for the FOMC now that rate hikes may be over

Business / Business News /

Federal Reserve Chair Jerome Powell has been clear that the U.S. central bank is staging a two-part inflation fight. First comes the question of how high to raise interest rates. Then, comes the concern of how long to keep them there.

But much to the chagrin of market participants, Fed officials have been stressing that they’re nowhere near ...Read more

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No Christmas crab: California's commercial Dungeness season delayed again

Business / Business News /

California Dungeness crab is off the Christmas menu. And probably the New Year’s one also.

California Fish and Wildlife officials have again delayed the start of the state’s commercial Dungeness crab fishing season.

The risk of whales becoming tangled in crab fishing gear remains high for most of the coastal waters from the Mendocino ...Read more

Honeywell to buy security company in $5B deal, in latest business realignment move

Business / Business News /

Honeywell, a Charlotte, North Carolina-based electronics manufacturer, is planning to spend $4.95 billion to buy a security business from a South Florida company, officials announced Friday.

The deal with Carrier Global Corp., a climate and energy firm, allows Honeywell to take over Carrier Global Access Solutions, which includes several brands...Read more

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Terrence Howard sues CAA for allegedly cheating him out of higher pay on 'Empire'

Business / Business News /

"Empire" star Terrence Howard filed a lawsuit Friday against CAA, alleging that the talent agency urged him to accept a salary below the industry standard during his time on the musical drama.

The Oscar-nominated actor, who played protagonist and music mogul Lucious Lyon in the hit Fox series, sued Creative Artists Agency in Los Angeles ...Read more

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Disney settles with former Marvel artist's estate over Spider-Man, Doctor Strange rights

Business / Business News /

Walt Disney Co. has settled with the estate of a former Marvel artist that claimed rights to Spider-Man and Doctor Strange, effectively ending a lengthy legal battle between the entertainment giant and a group of comic book artists over the copyright of popular superhero characters.

"We reached an amicable resolution regarding this interesting ...Read more

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Econometer: Was the record $38 billion holiday spending a good sign for the US economy?

Business / Business News /

Retail spending on Black Friday and Cyber Monday shattered last year's totals despite many consumer sentiment surveys that say people are worried about the economy.

Consumers spent $38 billion from Thanksgiving to Cyber Monday, up 7.8 percent annually, said Adobe Analytics. Even adjusted for inflation, Adobe said growth was "driven by net-new ...Read more


Auto review: 2023 Genesis G80 gets electrified

Business / Business News /

As upscale brand, Genesis still tries to squeeze as much out of the review pie as possible, they deliver to Grasso’s Garage their Electrified G80 AWD.

Back in 2021, we reviewed the G80 and were very impressed with the overall stature, aesthetics and comfort while noting a price tag “cheaper than the rest.” Well, well, well, some good ...Read more

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Gaming platform Roblox fails to protect child gamers from predators, sexual content, lawsuit claims

Business / Business News /

After Quisha Smith allowed her young daughter to open an account on the hugely popular Roblox gaming platform, she was surprised to see that when the girl went into a bathroom in a role-playing game, someone asked her to take off her pants, Smith alleges in a lawsuit against the company.

Roblox claims more than 66 million daily users globally, ...Read more

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Casey Williams: 10 books every automobile enthusiast should read

Business / Business News /

I have a deep library at home that I’ve accumulated over decades to feed my interest in all things automotive. From personal memoirs of rock stars to accounts of industry-changing research, safety advocacy, giant-slaying upstarts, epic marketing mistakes, and even mid-century style, here are 10 books I treasure and recommend for true ...Read more

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Auto review: 2024 Genesis GV60 EV is a brilliant all-rounder

Business / Business News /

The old saying that you don’t get something for nothing is apropos when talking about electric vehicles.

While EVs lack tailpipe emissions, their batteries store electricity generated elsewhere that pollutes. According to the U.S. Energy Information Administration, 60.2% of all U.S. electric generation in 2022 was from fossil fuels, and ...Read more

AI is likely to create more jobs than it kills

Business / Business News /

Artificial intelligence holds far-reaching consequences for modern economies. Many of the jobs we are asked to do will change; a lot of them might disappear altogether. Facing this existential upheaval, experts advise that smart AI regulation will be needed — well, who could object to smart regulation? But the forms it should take, its methods...Read more

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US labor market defies slowdown forecasts in broad strengthening

Business / Business News /

The U.S. labor market unexpectedly strengthened in November with pickups in employment and wages, deflating bets the Federal Reserve will cut interest rates early next year.

Nonfarm payrolls increased 199,000 last month following a 150,000 advance in October, a Bureau of Labor Statistics report showed Friday. The return of striking auto workers...Read more

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Michael Hiltzik: The war on 'junk fees' is gaining ground, but the fight is not yet won

Business / Business News /

"I talk to a lot of of banks," Rep. Dan Meuser, R-Pennsylvania, told Rohit Chopra, director of the Consumer Financial Protection Bureau, "and they're really not happy with your agency."

He urged Chopra to "be responsive to the clientele you're supposed to be helping."

With admirable restraint, Chopra replied: "Just to be clear, the clientele ...Read more

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The new Motor City? California is home to the 21st century auto startup boom

Business / Business News /

LOS ANGELES — On a sunny afternoon this fall, automotive engineers and marketers with Mullen Automotive welcomed new customers to check out a fleet of brands, including SUVs, utility trucks and a sports car. The customers got test rides with experts and a look at future products.

But the startup automaker isn’t located in Motor City, ...Read more

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Liam Denning: Musk's Cyberbeast has a weight problem

Business / Business News /

Among the Tesla Cybertruck’s unusual selling points, such as stopping various projectiles, is this one:

If you're ever in an argument with another car, you will win.

That was Elon Musk talking tough at the launch of Tesla Inc.’s latest model. While any autos executive will talk up safety specs, framing a crash as a contest to be won or ...Read more

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Auto review: Family Thanksgiving in the 3-row Acura MDX Type S

Business / Business News /

DETROIT — Dinner in Motown, Wings game, paddle tennis, shopping, Bocce ball, dinner, snow, snow and let it snow. Just your typical jam-packed Thanksgiving weekend for the Payne family six-pack of mom, dad, two boys and their wives.

Good thing we had a three-row, six-seat SUV to negotiate it all.

This week’s test mule was a 2024 Acura MDX ...Read more

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Jeff Bezos to sell a Seattle-area property, reports say

Business / Business News /

Billionaire Jeff Bezos, who recently announced his plans to move to Miami, is looking to offload at least one of his Seattle-area homes, according to media reports and property listings.

The Amazon founder owns a 4,300-square-foot, five-bedroom home in the Eastside town of Yarrow Point currently listed for nearly $4.4 million, Business Insider ...Read more

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Five big takeaways from Sam Altman's conversation with Trevor Noah

Business / Business News /

When Sam Altman was abruptly fired last month as CEO of artificial intelligence powerhouse OpenAI, the rupture left him with a lot of thinking to do.

But looking back on the experience, Altman told comedian Trevor Noah in a video podcast released Thursday morning, there may have been some upside.

"The empathy I gained out of this whole ...Read more