The Global Economic News

Reddit (RDDT) Is Joining the S&P 500 What’s Next for the Company? Angelica Ballesteros Fri, August 14, 2026 at 10:47 PM PDT 3 min read RDDT ^GSPC AVB EQR Reddit Inc. (NYSE:RDDT) saw its share price climb by 12.63 percent on Friday to close at $178.09 apiece following announcements that it would join the S&P 500 beginning next week. In an updated report on Thursday, the S&P Dow Jones Indices said that Reddit Inc. (NYSE:RDDT) is set to become a member of the index beginning Tuesday, August 18, replacing AvalonBay Communities, which is set to be acquired by Equity Residential also an S&P 500 constituent. "We're proud to be added to the S&P 500, recognizing the growth, momentum, and consistency we've established as a public company," Chief Finance Officer Drew Vollero said. Photo by Brett Jordan on Pexels "Reddit's raw materials are special, and there is so much potential to continue building great products and scaling profitably. Our focus r...

European equities have historically struggled to ignite the kind of investor enthusiasm enjoyed by U.S. stocks and certain fast-growing Asian markets. The continent has fewer high-growth companies, shallower capital markets and is thought to have a less compelling long-term earnings growth story. A spike in governments' fiscal spending at the beginning of 2025, however, brought the market to life. This year, the story is more nuanced, but the pan-European Stoxx 600 index has proved remarkably resilient. Europe's headline index tracks 600 large, medium, and small capitalization companies across 17 European countries, and is essentially the continent's equivalent of the S&P 500. The Stoxx 600 is up 10% in 2026 so far, slightly behind its North American counterpart, which has returned 13.5% over the same period. How the Stoxx 600 has performed over 5 years. European markets tend to fly under the radar when compared with larger and more liquid U.S. markets, but Goldman Sac...

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Red Cat Stock Jumps on Trump Drone Tariff News. Analysts Think It Has 70% More Upside Potential. Wajeeh Khan Fri, August 14, 2026 at 12:04 PM PDT 2 min read RCAT Red Cat (RCAT) shares rallied on Friday after President Donald Trump signed a proclamation invoking Section 232 to slap ad valorem tariffs of up to 100% on imported drones and critical components. The sweeping order targets military-grade foreign unmanned systems while imposing a 25% tariff on smaller commercial models as well to strengthen national security. More News from Barchart Analysts Keep Hiking Micron's Revenue and Price Forecasts - Shorting MU Puts Works Here GOOGL Stock Alert: Google Unleashes Its Biggest Weapon Against Apple Sandisk Stock Jumps on Its Investor Day Success. Why Wedbush Analysts Aren't 100% Buying the Story. Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe to...

Historic retailer gets lifeline after warning it could collapse Fernanda Tronco Sat, August 15, 2026 at 3:07 PM PDT 5 min read Once a destination for some of the world's most selective luxury shoppers, an iconic retailer is facing one of the biggest turning points in its nearly two-century history. Years of financial losses and mounting challenges have put the business under serious pressure, with its owner warning that it could not survive much longer without new investment. Now, after months of uncertainty, the retailer's future is once again hanging in the balance. Founded in 1831, Harvey Nichols is a British luxury department store chain known for its upscale designer fashion, beauty products, fine wines, and gourmet food. The company operated 12 stores worldwide. Harvey Nichols warned it could shut down next year Harvey Nichols' financial challenges intensified this year, prompting its owner, Hong Kong luxury goods businessman Dickson Poon, to put the retailer up for ...

MercadoLibre (MELI) Bets Big On Growth. Is The Payoff Worth The Wait? Maham Fatima Sat, August 15, 2026 at 3:17 PM PDT 3 min read MELI MercadoLibre (NASDAQ: MELI ) just crossed $10 billion in quarterly revenue for the first time, yet the stock sits roughly 30% below its high. That gap between a record top line and a beaten-down share price is the whole story here. On the call covering the quarter ended June 30, held August 5, management laid out exactly why it is choosing growth over profit right now, and investors are still deciding whether to believe them. MercadoLibre (MELI) Bets Big On Growth. Is The Payoff Worth The Wait? Bull Case: Betting On Deeper Engagement Net revenue grew 50% year-over-year in the second quarter, powered by a 44% jump in gross merchandise volume and a 56% rise in total payment volume. The more interesting number sits underneath that headline. A year after MercadoLibre lowered its free shipping threshold in Brazil, items per buyer there climbed 19% year-over...

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Suze Orman says AI could force you out of your job before 65 and retiring early costs you each year Christy Bieber Sat, August 15, 2026 at 8:00 AM PDT 5 min read gettyimages.com / Steve Jennings When making your retirement plans, setting a target retirement age gives you an idea of what your Social Security benefits will look like and how much you need to save each month to hit your nest-egg goal. Unfortunately, many people are making a dangerous mistake when setting their retirement age at least according to finance expert, Suze Orman. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going Orman has long warned that far too many ...

Smarkets, a UK-based betting exchange, is making its way into the U.S. by pursuing two separate avenues. The company, which was founded in 2008, filed for a license with the Commodity Futures Trading Commission in March . The platform which has over $60 billion in lifetime trading volume also has pending applications to operate as a sportsbook in Illinois, Iowa and Michigan, according to Smarkets founder Jason Trost. "The reason we're doing the dual track is because the legal situation is unclear if the CFTC has federal preemption or not," Trost said. Just like prediction market platforms Kalshi and Polymarket, sports also drives Smarkets' volume, he added. A growing number of states have argued prediction markets are operating as illegal gambling platforms. The CFTC has hit back, however, suing multiple states to block efforts looking to regulate the platforms. Last month, 44 state attorneys general also wrote that the federal agency cannot be the exclusive regulato...

Why Medicare Advantage providers are cutting plans and what to do if your coverage is affected Kerry Hannon Senior Columnist Sat, August 15, 2026 at 8:07 AM PDT 5 min read HUM Medicare Advantage plans are shrinking. Last month, Humana ( HUM ) announced that it will exit some Medicare Advantage plans for next year, forcing more than half a million seniors to find a new health plan. The reason for the coverage cutback: high costs and slimmer profit margins in certain markets, according to Humana CFO Celeste Mellet. It's the second year in a row of plan downsizing for Humana. This year, the company exited three states and 194 counties, affecting around 500,000 members. UnitedHealthcare ( UNH ) also jettisoned Medicare Advantage plans that served more than 600,000 seniors. According to KFF research , the percentage of Medicare Advantage enrollees who faced terminated plans this year reached 60% or higher in Wyoming, South Dakota, New Hampshire, North Dakota, and Vermont. Medicare Adva...

The caverns that hold the U.S. strategic oil reserves could get damaged by the rapid release of stockpiles in response to the Iran war, experts warned this week as inventories hit a four-decade low. Damage to the caverns would make it more difficult to respond to future energy emergencies, the experts said. The oil in the Strategic Petroleum Reserve (SPR) is stored at 60 salt caverns thousands of feet underground at four major sites along the Gulf Coast in Louisiana and Texas. The SPR has tumbled below 300 million barrels for the first time since it was filled in the early 1980s, according to Department of Energy data released Monday. Inventories are depleting as the U.S. releases 172 million barrels in response to the supply disruption caused by the Iran war. The SPR will sit at around 243 million barrels after the drawdown is finished. The Energy Department has said at least 70 million barrels must remain in the reserve to safely manage the caverns. Amos Hochstein, a senior energy a...

Mark Cuban calls these investments 'death' for ultra-rich Americans. Are you making the same mistakes? Vishesh Raisinghani Sat, August 15, 2026 at 5:35 AM PDT 7 min read Club Shay Shay/Youtube Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Celebrities and athletes can make millions during their careers, but billionaire investor Mark Cuban has warned that what they do with that money can determine whether their wealth lasts. During an appearance on Shannon Sharpe's Club Shay Shay podcast, Cuban offered some blunt advice for those who suddenly come into wealth: "Don't invest in the restaurant, don't invest in the clothing label, don't invest in the liquor company ... or music," he said. "That is the death!" (1). Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one JPMorgan still se...

Iran rebuffed U.S. President Donald Trump's claim that the Strait of Hormuz would soon become U.S. territory, as a ship in the crucial waterway was reportedly struck and negotiations with Tehran appeared no nearer to resuming. "The Strait of Hormuz has been Iranian, is Iranian, and will remain Iranian; this strait will only be closed and opened under Iran's command," Iran's Deputy Foreign Minister Kazem Gharibabadi said in a post on X late Friday. "The Strait of Hormuz cannot be seized by tweet, nor by aircraft carrier, nor by issuing an order, nor by an election speech." Earlier, Trump claimed that after the U.S. defeats Iran, "pretty soon I'll be declaring the Hormuz Strait a territory of the United States ." Trump, known to cite the phrase "to the victor belong the spoils," has floated the possibility that the U.S. could impose tolls in the strait once the conflict ends, though he later dropped the idea. The strait was an open...

Found a great mortgage rate? Beware expert says a low rate blinds’ buyers to a catch that could cost them thousands Mike Crisolago Fri, August 14, 2026 at 4:00 AM PDT 6 min read Fizkes/Shutterstock It's the largest loan most people ever take out in their lifetime, yet some house hunters don't stop to do the math on mortgages before making themselves at home. "Their mind is not so much on a mortgage, which they're going to hold for 30 years or maybe less, but they're really thinking about that home and what we can do with it," John Cooper, a certified financial planner with Greenwood Capital, told Moneywise. "And this mortgage is just a necessary evil to get you into that home." Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and ...

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Beijing is moving to clarify new tax rules on offshore trusts that have sowed confusion among wealthy Chinese citizens and their advisers. China's State Taxation Administration is conducting large-scale training for local tax officers to align on how the levy on offshore trusts some of them set up decades ago should be applied, according to several onshore and offshore tax lawyers. The tax agency has also sent out draft guidelines to onshore law and accounting firms, and plans consultation sessions with lawyers in the coming weeks, according to multiple lawyers and advisors who didn't want to be named discussing sensitive policy matters. Some of those people expect more draft guidance to follow, with the documents eventually made public. The STA has been conducting internal trainings at the provincial, municipal and county level to align interpretation across local tax offices, said Windson Li, co-head of tax for Asia at DLA Piper. The Chinese Embassy in Singapore, and tax bu...