The stock market just passed a big test in determining whether its secular bull run will continue, but risks remain, Bank of America says

(Photo by Scott Heins/Getty Images) The secular bull market that started in 2013 is still intact for the S&P 500, according to Bank of America.The bank said the secular bull just passed a major test when it bounced off of its rising 200-week moving average.Here’s what the stock market needs to do next to confirm…

The world’s second-richest man, Louis Vuitton’s CEO, sold his private jet after people started tracking it on Twitter: ‘No one can see where I go’

LVMH CEO Bernard Arnault on board a private jet on October 11, 2004. Marc DEVILLE/Gamma-Rapho via Getty Images Bernard Arnault said LVMH sold its private jet after Twitter accounts started tracking it. The billionaire said he’s started renting private aircrafts for his trips instead. Arnault is one of many billionaires to express concern over jet-tracking…

Conservatives love to blame America’s housing crisis on Democrats. An economist explains the true reason behind it and why it extends beyond political parties.

“The big overarching problem, for the whole country, is that we don’t have enough homes to go around,” says economist and author Jenny Schuetz. John M Lund Photography Inc / Getty Images Paul Constant is a writer at Civic Ventures and the cohost of the “Pitchfork Economics” podcast. He recently spoke with economist and author…

GOP lawmakers are bashing Biden for driving up inflation, but they could make it worse by extending Trump’s tax cuts

Former President Donald Trump (L), President Joe Biden (R). Tom Williams/CQ-Roll Call, Inc via Getty Images Republicans are eyeing a midterm victory as a method to extend Trump’s tax cuts. But doing so could cause inflation to rise — something the GOP has criticized Biden for doing. Biden continues to resist Trump’s tax policies but…

Investors still haven’t priced in the impact on stocks of higher-for-longer oil prices as OPEC+ embarks on production cuts, Bank of America says

US oil exports jumped last week to a record high. George Frey/Getty Images The market isn’t pricing in the higher-for-longer environment in oil prices, Bank of America said Monday.  Oil prices look set to increase following the decision by OPEC+ to cut production.  But Wall Street analysts currently expect earnings for the S&P 500 Consumer…

An unopened first-generation iPhone from 2007 still in its original box has sold for more than $39,000 at auction

Apple CEO Steve Jobs holds up the new iPhone that was introduced at Macworld on January 9, 2007. David Paul Morris/Getty Images A first-generation iPhone from 2007, still unopened in its original box, has fetched more than $39,000 at auction. That’s more than 65 times its original price of $599, or roughly $860 in today’s…