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Ashley St Clair, who claims to be the mother of Elon Musk's newborn son, sold her $100,000 Tesla after Musk cut her child support by 60%. She stated the sale was necessary to cover expenses for a full-time nanny, alleging Musk's actions were vindictive. St Clair filed a paternity and custody lawsuit after Musk reportedly asked her to keep the child's existence secret.
A North Carolina federal judge has upheld the majority of a $22.1 million verdict against Wells Fargo under the Americans with Disabilities Act. However, the judge did agree to reduce the punitive damages awarded by the jury.
Goldman Sachs has raised the likelihood of a recession under President Trump to 35%, citing the risks from new tariffs and a decline in household and business confidence. The firm predicts a 0.3% increase in unemployment, estimating that Trump's policies could reduce GDP growth by 1.2% over the next year. Meanwhile, Moody's Analytics has also increased its recession probability to 40%, warning of a potential "recession by design."
Capital Research Global Investors increased its stake in Wells Fargo & Company to 15,734,874 shares valued at $1.1 billion, while Two Sigma Advisers LP grew its position by 730.4% to 5,954,600 shares worth $336 million. Northern Trust Corp raised its holdings by 10.7%, owning 34,339,295 shares valued at $2.4 billion. Institutional investors hold 75.90% of the company's stock, which has a current rating of "Moderate Buy" with an average price target of $74.97.
Arizona State Retirement System increased its stake in Bank of America by 0.5%, owning over 2 million shares valued at $89 million. Keybank National Association OH and Charles Schwab Investment Management also raised their holdings, with institutional investors owning 70.71% of the stock. Bank of America reported a quarterly EPS of $0.82, exceeding estimates, and declared a dividend of $0.26, reflecting a 2.50% yield.
Circle, the issuer of the USDC stablecoin, is set to go public this April with JPMorgan Chase and Citi as underwriters, aiming for a valuation between $4 billion and $5 billion. This IPO follows a challenging journey, including a collapsed SPAC deal and regulatory hurdles, and is expected to enhance confidence in blockchain-based financial services. With USDC's market cap at $60 billion, the move could position Circle as a strong competitor to Tether in the stablecoin market.
Goldman Sachs has increased the probability of a recession to 35%, citing President Trump’s escalating trade war and declining consumer confidence as key factors. CNBC's Dominic Chu reports on how markets are preparing for new tariffs expected this week.
Bank of America is set to open its first branch in the Dayton area at a former Verizon store on Miamisburg Centerville Road, near Dayton Mall. The new 2,012-square-foot location will feature a standalone ATM and 21 parking spaces, with construction expected to begin after permit approval and take around eight months. Currently, the nearest Bank of America branches are in Butler and Warren counties.
Goldman Sachs has revised its year-end target for the S&P 500 to 5,700 points, marking an 8% decrease from its earlier estimate of 6,200. Chief U.S. Equity Strategist David Kostin cited heightened recession risks and tariff uncertainties as key factors for this downgrade, warning that further deterioration in growth outlook could lead to even steeper declines in valuations. The new target suggests a modest 2% gain for the index this year, reflecting one of the most bearish forecasts on Wall Street.
MarketBeat highlights five stocks recommended by top analysts as better buys than JPMorgan Chase & Co., which holds a Moderate Buy rating. Meanwhile, nuclear energy stocks like Cameco Corp and Paladin Energy have surged over 40% in 2024, with potential for further gains. Insider trading at JPMorgan shows significant sales, while institutional investors continue to increase their stakes, with 71.55% of the stock owned by such entities.
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Ashley St Clair sells Tesla amid child support dispute with Elon Musk
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judge upholds majority of 22 million dollar ada verdict against wells fargo
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bank of america to open first branch in dayton area near mall
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Goldman Sachs revises S&P 500 target amid rising recession fears and tariffs
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top analysts recommend five stocks over jpmorgan chase amid market shifts
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20:25 31.03.2025
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