Finance
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The AI trade is over. Top Wall Street analysts say the AI opportunity might be just starting
The crash that was widely predicted just last summer hasn’t arrived yet. There was no single day when the AI stock market euphoria buckled, no Lehman moment, no front-page meltdown. Instead, over the better part of a year, Wall Street did something far more methodical—and far more telling: it slowly, deliberately, and almost silently wound…
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Trump, the $39 trillion national debt, rosy growth assumptions and the question of ‘a sustainable path’
President Trump’s fiscal year 2027 budget is built on a single, load-bearing bet: that the U.S. economy can grow at 3% annually for the next decade. The White House says that growth will flood federal coffers with new tax revenue and eventually bend the national debt, now sitting at over $39 trillion, onto a downward…
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Top economist Mark Zandi says the indicator that has called every recession since WWII just signaled we’re already in one
Economists have spent months debating if a recession is on the horizon. One economic indicator predicts most of those arguments are already moot. Mark Zandi, the top economist at Moody’s Analytics, said the U.S. economy could already be in a recession, according to the Vicious Cycle Index (VCI), an economic indicator Zandi and his colleagues…
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Bitcoin slides with risk assets as Trump’s Iran ultimatum looms
Bitcoin slipped as cryptocurrencies were swept up in broader market volatility after a series of attacks on Iran’s infrastructure as President Donald Trump’s key ceasefire deadline approaches. The largest cryptocurrency fell as much as 2.5% before paring some losses in New York trading. The decline erased gains from the previous day, when Bitcoin briefly topped…
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Small businesses are ‘doing fine.’ That’s a problem for the U.S. Chamber of Commerce
Small businesses see what’s happening in Iran as an omen of tough times ahead, and it may just mean a bigger loss for Main Street in the coming months. The U.S. Chamber of Commerce’s Small Business Index, which measures small business owner sentiment, fell to 67.0 in the first quarter, retreating further from its all-time…
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Current price of oil as of April 7, 2026
As of 8:45 a.m. Eastern Time today, oil is trading at $113.40 per barrel, based on the Brent benchmark we’ll explain in a bit. That’s $2.15 above yesterday morning’s level and about $48 higher than where it stood a year ago. Oil price per barrel % Change Price of oil yesterday $111.25 +1.93% Price of…
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A J.P. Morgan analyst sees 60% downside to Tesla stock—and he may be too optimistic
On Monday, J.P. Morgan analyst Ryan Brinkman issued a report on Tesla the likes of which Wall Street has seldom if ever seen. Brinkman asserting that at its current price of $361, the EV-maker is hugely overvalued. Based on where its fading financials will land by the end of this year, he says it’s worth…
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Exclusive: Crypto hedge fund Split Capital winds down as its founder nabs new gig as an exec at stablecoin startup Plasma
In January 2024, as crypto prices were soaring, Zaheer Ebtikar unveiled a new digital assets hedge fund called Split Capital. Two years later, he’s winding that firm down as he pivots to one of the buzziest sectors in crypto: stablecoins, or cryptocurrencies pegged to real-world assets like the U.S. dollar. On Tuesday, the former hedge…
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AI is cutting 16,000 U.S. jobs a month — and Gen Z is taking the brunt, Goldman Sachs says
New research by Goldman Sachs economists finds that AI is already a measurable drag on the U.S. job market — erasing roughly 16,000 net jobs per month over the past year, with the pain falling hardest on Gen Z and entry-level workers. Goldman’s breakdown shows AI substitution wiped out roughly 25,000 jobs per month in…
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Jamie Dimon defends the U.S. war on Iran—and warns it’s pushing the economy into uncharted territory
Jamie Dimon has never been one to soften a warning. In his annual letter to JPMorgan Chase shareholders, released Monday, the most influential banker in the world offered a full-throated, if measured, defense of the U.S. war on Iran, even as he made clear that the conflict is driving the global economy into genuinely uncharted…