Masterworks is an online platform that allows you to invest in shares in artwork. Since it hit the market in 2017, Masterworks has offered over $700 million in investments in contemporary artwork pieces that have track records of success and strong reputations. Masterworks features artists such as Banksy, Yayoi Kusama, Jean-Michel Basquiat and Andy Warhol.Pros and cons of investing with MasterworksPros:Access to a historically inaccessible sector.Cons:Lack of transparency on the Masterworks website.Fee structure is difficult to understand.Higher risk than traditional investments like stocks and bonds.How to start investing with MasterworksGetting started with Masterworks is a bit more involved than with…
Author: insighter
Costco Wholesale ‘s third-quarter earnings topped Wall Street expectations on Thursday, driven by higher sales and lower-than-expected operating expenses. Even with a recent C-Suite transition, Costco delivered a business-as-usual quarter, as members flocked to its warehouses in search of quality merchandise at value prices. Total revenue in its fiscal 2024 third quarter increased 9.1% year over year to $58.52 billion, beating analysts’ expectations of $58.07 billion, according to estimates compiled by LSEG. Earnings per share in the three months ended May 12 totaled $3.78, beating analysts’ forecasts of $3.70, LSEG data showed. On an annual basis, Costco’s EPS grew 29%.…
Pixelseffect | E+ | Getty ImagesFor lower-earning Americans, the pace of hiring remains strong, holding steady above its pre-pandemic baseline even as the demand for higher-income workers has waned slightly, according to new data from Vanguard.The hire rate for the bottom one-third of workers by income, those who earn less than $55,000 a year, was 1.5% in March, the rate at which it’s largely hovered since September 2023, according to a new Vanguard analysis.More from Personal Finance:A.I. on a collision course with white-collar, high-paid jobsSome jobs still seeing relatively big annual raisesHow to spot and overcome ‘ghost’ jobsThe hires rate…
Now that grocery inflation seems to have eased, retailers are clamoring to offer more and better discounts that will get shoppers back to their stores this summer. With an announcement Wednesday, Walgreens joined a growing list of national brands, which also includes Target and Amazon Fresh, that are touting price cuts on an array of goods from everyday staples to seasonal favorites. After years of rising prices, it’s a welcome change. Grocery prices are 25% higher than they were at the start of 2020, according to the latest consumer price index, but they actually fell slightly in April from the…
Tesla’s board is practically begging shareholders to approve CEO Elon Musk’s $45 billion pay package at next month’s annual meeting, but not everyone is onboard and now the EV maker is on the defensive. In a 71-page report published over the weekend, proxy adviser Glass Lewis encouraged shareholders to vote against Musk’s pay package, in part because of its “sheer size” and the dilutive effect on current shareholders that would take place if Musk exercised his stock options. The proxy adviser, which gives recommendations to institutional investors on how to vote at annual shareholder meetings, also said it was concerned…
Foot Locker’s turnaround is starting to bear some fruit. The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected, according to StreetAccount. The company also reaffirmed its fiscal year guidance, which projects sales to be between a 1% decline and a 1% gain, compared with a decline of 0.6% that analysts had forecast, according to LSEG. Shares of Foot Locker surged 15% Thursday.Here’s how the company did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:Earnings per share: 22 cents adjusted vs. 12 cents expected Revenue:…
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | ReutersU.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan.Whether it’s households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to software, Moynihan said Thursday at a financial conference held in New…
With Memorial Day behind us, homebuying season should be in full swing. But with mortgage rates on the high side, purchase and refinance applications are at their lowest levels since early March, according to the Mortgage Bankers Association. “Borrowers remain sensitive to small increases in rates,” Joel Kan, MBA vice president and deputy chief economist, said in a statement. The average rate on the 30-year fixed-rate mortgage rose to 7.02% in the week ending May 30, according to rate information provided to NerdWallet by Zillow. It was an increase of 15 basis points from the previous week. (A basis point…
The choosy US retail customer still doesn’t want what Kohl’s Corp. is trying to sell. The midmarket department-store chain slashed its guidance for the full year after reporting first-quarter results that wildly missed on just about every metric. Comparable sales, which measure the performance of stores open at least one year, fell 4.4% in the quarter ended May 4 — the ninth consecutive decline. Analysts had expected a 1.7% drop. Although Kohl’s offered deep discounts in the period, the company said sales of clearance items actually declined, leading to the miss on comparable sales. On the company’s website Thursday, it…
John Williams, president and chief executive officer of the Federal Reserve Bank of New York, during the Market Forum: FX in Focus event in New York, on Thursday, Sept. 7, 2023.Victor J. Blue | Bloomberg | Getty ImagesNEW YORK — New York Federal Reserve President John Williams on Thursday said inflation is still too high but he is confident it will start decelerating later this year.With markets on edge over the direction of monetary policy, Williams offered no clear signs on where he is leaning as far as possible interest rate cuts go. Instead, he reiterated recent positions from the…
Sallie Mae and College Ave are two well-known lenders that offer student loans for undergraduates as well as graduate programs. Figuring out which one to choose ultimately depends on your personal financial situation and your goals after college.While federal student loans are a common choice for many students, they aren’t the only way to finance your education. Loans from private lenders can help you bridge any gaps you have in your funding while also providing resources to set you up for success after you graduate.This guide dives into both Sallie Mae and College Ave and some things to consider to…
In this courtroom sketch, David Pecker is cross-examined by Emil Bove during former U.S. President Donald Trump’s criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York City on April 26, 2024.Jane Rosenberg | ReutersEditor’s note: This is developing news and will be updated throughout the day.The jury in the criminal hush money trial of Donald Trump resumed deliberations Thursday after rehearing portions of testimony from David Pecker, the former supermarket tabloid publisher who helped suppress negative stories about the Republican during…