Individuals earning an adjusted gross income (AGI) up to $75,000 (and married couples earning up to $150,000) will receive $1,400 each, plus $1,400 for each dependent. That means an eligible family of four will receive $5,600.
After those income thresholds, the payments phase out. Individuals earning an AGI over $100,000 per year and couples earning over $200,000 will not receive a check.
The leaders of Robinhood, Melvin Capital, Reddit and Citadel will testify to the U.S. House Financial Services Committee testimony on Thursday.
Lawmakers will get their chance to grill the executives, as well as the Reddit trading star known as Roaring Kitty, about last month’s GameStop trading turmoil.
The hearing’s topics are expected to include Citadel’s relationship with Robinhood and Melvin Capital, why brokerages shut down trading and how to protect retail investors.
Ether, the world’s second-largest digital currency, hit a record high on Thursday.
The price of ether hit $1,918.52 during morning trade in Asia but has since pared some gains, according to CoinDesk data.
The rally in bitcoin, which surpassed $52,000 for the first time on Wednesday, is helping to push up ether as well.
“The SolarWinds hack was and really is and continues to be one of the biggest espionage campaigns recently discovered,” said Thomas Rid, a professor of strategic studies at Johns Hopkins University.
Microsoft, Google and several U.S. government agencies were among those compromised by the intrusion.
Secretary of State Anthony Blinken condemned Russia’s use of “harsh tactics” against peaceful protesters who urge for the release of Putin opposition leader Alexei Navalny.
More than 4,500 people were detained by Russian authorities for participating in the protests, according to a monitoring group.
“It remains striking to me, how concerned, and maybe even scared, the Russian government seems to be of one man, Mr. Navalny,” Blinken said last week.
The pending home sales index from the National Association of Realtors fell 0.3% month to month, the fourth straight monthly decline.
Pending sales were, however, 21.4% higher than December 2019, and this was the highest December reading on record.
“Pending home sales contracts have dipped during recent months, but I would attribute that to having too few homes for sale,” said Lawrence Yun, NAR’s chief economist.
Downloads of privacy-focused messaging apps Signal and Telegram got a boost as users looked for alternatives to Facebook-owned WhatsApp.
The surge comes after WhatsApp updated its terms of service agreement that appears to give users little choice to opt out of sharing data with parent company Facebook.
Signal claims to have “state-of-the-art end-to-end encryption” as part of its service, which prevents messages from being read by those who are not the intended recipient.
“I think this is fantastic what’s going on. Leave it alone,” Kevin O’Leary said of the Reddit-sparked trading frenzy.
The O’Shares ETFs co-founder and “Shark Tank” investor said retail traders may lose money but gain a lifelong interest in the stock market.
Hedge funds may be more careful about shorting stocks now, too, O’Leary said.
The Dow Jones Industrial average lost 620.74 points, or 2%, to 29,982.62, the first time the 30-stock gauge has closed below the 30,000 mark since Dec. 14. The S&P 500 fell 1.9% to 3,714.24 as 10 sectors registered losses. The Nasdaq Composite slid 2% to 13,070.69 as Apple dropped 3.7% and other major tech names slipped.
The pandemic-induced run on housing has fueled a national affordability crisis for many would-be home buyers.
Here’s a look at how much you need to earn to afford the average home in each state.
