Summary: Dow creeps up to another record but stocks were mostly lower on falling home sales, rising jobless claims; Target shares fall on data theft; Darden looks to put Red Lobster on ice; Carnival beats forecasts. Conway G. Gittens reports.
According to a report, President Biden’s proposed 2025 budget would increase the top marginal rate on long-term capital gains and qualified dividends to an astonishing 44.6%.
Alongside another blockbuster earnings report, Nvidia said it planned to split its stock. Here's a look at what that means: + **Why is Nvidia splitting its stock?** The company said it wants to "make stock ownership more accessible to employees and investors." A split lowers the per-share price of a stock, theoretically putting it in reach for more small investors (though nowadays, brokers offer fractional share trading, meaning this isn't a big obstacle.) It is also marginally good news for bigger investors, who tend to prefer dealing in round lots of 100 shares at a time.
(Bloomberg) -- Boeing Co. scrapped a plan to generate cash again this year and said it will suffer another significant outflow in the current quarter as the embattled planemaker fights on multiple fronts to get production back in order and ramp up deliveries. Most Read from BloombergNvidia Stock Surges as Sales Forecast Delivers on AI HopesHarvard Students Walk Out of Commencement Protesting SuspensionsThese Flight Routes Suffer the World’s Worst TurbulenceCiti Trader Got 711 Warning Messages Be