Supreme Court Justice Clarence Thomas.Saul Loeb/AFP via Getty Images
A Senate committee found that Clarence Thomas had a substantial loan forgiven by a wealthy friend in 2008.
Thomas' friend, healthcare exec Anthony Welters, loaned him over $260,000 that Thomas used to purchase a luxury RV.
The findings came four months after Thomas joined a majority Supreme Court opinion striking down Biden's student debt forgiveness plan.
Supreme Court Justice Clarence Thomas ruled this year that Joe Biden was
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Clarence Thomas ruled against student debt relief. Now a Senate panel alleges his healthcare exec pal forgave his $267,230 loan.
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The 10 best streaming services in 2023
When you buy through our links, Insider may earn an affiliate commission. Learn moreNetflix, Disney Plus, Hulu, Prime Video, and Apple TV Plus are all some of the best streaming services you can subscribe to.Google Play; Netflix; Disney+; Apple TV; Amazon Prime Video; Hulu; Alyssa Powell/Business InsiderViewers now have more streaming options than ever, but subscribing to every service out there will quickly weigh on your wallet. To help you decide what to sign up for, we rounded up the best str -
AI, machine learning, and robotics are making the retail supply chain more efficient and resilient — a welcome shift after several rocky years
Ton Photograph/Getty Images
Technology is the driving force behind robust supply-chain operations in the retail industry.
AI, machine learning, and robotics have streamlined and improved tasks in fulfillment centers.
Experts told Insider how companies could implement agile digital infrastructures in their processes.
This article is part of "Build IT," a series about digital tech and innovation trends that are disrupting industries.
Digital technology has dramatically improved the retail-cu -
An embarrassing Russian defeat a century ago is a warning about the risks of losing a war to China now, top US military official says
Cruisers of the Russian Far East Fleet sunk in the bay of Port Arthur in spring 1904 or 1905.ullstein bild/ullstein bild via Getty Images
In May 1905, Russia's navy suffered a resounding defeat by the Japanese at the Battle of Tsushima.
It sealed Japan's victory in the Russo-Japanese War and eliminated much of Russia's influence in Asia.
The battle is a lesson about complacency in the face of new threats, a top US Air Force official says.
A devastating naval defeat 118 years ago blunted a major -
Video shows a Chinese fighter jet buzzing B-52 bomber that came as close as 10 feet, US says
A J-11BS fighter jet of the People's Liberation Army Air Force (PLAAF) performs in the sky during Changchun Air Show at Changchun Dafangshen Airport on August 27, 2022, in Changchun, Jilin Province of China.Qian Baihua/VCG via Getty Images
A video from US Indo-Pacific Command shows a Chinese fighter jet buzzing a US B-52 aircraft.
INDOPACOM said the "unsafe" intercept and excessive speed put both aircraft in danger.
The US has reported a spike in aggressive behavior by Chinese pilots, reporting -
I'm a business and leadership coach who uses the Enneagram. I've had corporate clients cry during workshops.
Jay Hidalgo uses the Enneagram in his leadership and business coaching practice.Courtesy of Jay Hidalgo/Getty ImagesJay Hidalgo is a business and leadership coach who uses the Enneagram in his corporate practice.The Enneagram is a personality model that characterizes people into one of nine archetypes. Hidalgo said the Enneagram is a great tool for building team cohesion and addressing work conflict. This as-told-to essay is based on a conversation with Jay Hidalgo, a business and lead -
X users slam millionaire venture capitalist who 'has not had a traditional 9-5 job' in decades after he mocks Gen-Zer venting about work-life balance
Social media users said VC Jason Calacanis was punching down and noted he hadn't worked a 9-5 in decades, in response to his post mocking a woman who said she had little time or energy in her personal life after her 9-5 job.Duffy-Marie Arnoult/WireImage via Getty
Millionaire VC Jason Calacanis is catching flak for mocking a woman venting about her 9-5 on TikTok.
Users on X, formerly Twitter, said he was punching down and noted he hadn't worked a 9-5 in decades.
Some commenters said the woman was -
The $169 AirPods 3 reportedly aren't selling great, and Apple is apparently working on a new design
Apple's AirPods 3 aren't selling "particularly well," according to a new report.ATRICK T. FALLON/AFP via Getty Images
Apple's third-generation Airpods "haven't sold particularly well," Bloomberg reports.
Apple will reportedly phase them out along with the second-gen model next year and introduce two fourth-gen variants.
Apple's AirPods are undoubtedly a hit, however, making up a large share of the 2022 headphone market.
It sounds like the third-generation AirPods haven't quite been the runaway h -
US stocks drop as investors weigh disappointing tech earnings against hot GDP report
Traders work on the floor of the NYSEThomson Reuters
US stocks closed in the red on Thursday, with the Nasdaq shedding more than 1%.
US GDP data for the third quarter showed the economy grew at 4.9%, more than expected.
Meta stock fell after management warned on ad sales.
US stocks declined on Thursday as traders took in hotter-than-expected US economic growth as well as more tech earnings.Gross domestic product in the third quarter grew at a 4.9% annualized rate, above forecasts and -
Russian troops celebrated conquering a waste heap, and threaten a pocket of Ukrainian troops
Ukrainian soldiers fire artillery on Russian positions on the frontline in the city of Avdiivka, Donetsk Oblast, Ukraine on July 27, 2023 amid Russia-Ukraine war.Diego Herrera Carcedo/Anadolu Agency via Getty Images
Russian troops continue their offensive in Avdiivka, in Ukraine's east, and surround some Ukrainian troops on three sides.
A video shows a Russian flag near Avdiivka planted in a waste pile, but any small gain comes at a high cost.
The renewed offensive in the area has wasted Russian -
Charlie Javice says JPMorgan is trying to use 'red tape' to avoid paying her legal bill of $3.8 million and growing
Charlie Javice, flanked by her legal team, outside of federal court in ManhattanINSIDERJPMorgan and prosecutors claim Charlie Javice fraudulently inflated the value of her startup.But JPMorgan was ordered to pay her legal fees – totaling almost $3.8 million, new filings show.The bank has made bogus objections to paying $835,000 of that amount, her lawyers say.Lawyers for indicted startup founder Charlie Javice say JPMorgan Chase is defying a court order to pay almost a fifth of the nearly -
6 troubling questions about the Corizon bankruptcy deal
Corizon Health's headquarters in Brentwood, Tennessee, in February 2017. Last year the company moved its registration to Dallas and pulled a Texas Two-Step.Kristoffer Tripplaar / Alamy Stock Photo
The bankruptcy of prison health provider Corizon has faced pressure from senators and a federal regulator in recent weeks.
A proposed deal is now in doubt after a judge's secret romantic relationship with an attorney was revealed.
Other troubling questions surrounding the bankruptcy involve payments to -
Treasury bonds are losing their status as safe-haven assets, Mohamed El-Erian says
Mohamed El-ErianYouTube / LinkedIn
The Treasury market seems to be losing its appeal as a safe-haven investment, Mohamed El-Erian told CNBC.
Despite turmoil in the Middle East, yields have climbed as traders continue to dump bonds.
Assets that aren't usually deemed as risk-free, such as bitcoin and equities, are becoming the new safe havens.
The Treasury market is losing its appeal as a safe haven, Mohamed El-Erian told CNBC on Thursday.While spasms of geopolitical turmoil would normally be a cl -
'Is everyone alive?' Our family WhatsApp is where 17 relatives confirm they're OK
A selfie taken by my niece Ne'ama showing her mother, father, and little sister. They have taken refuge in the south of Gaza.Ne'ama Ayyoub (used with permission)A week into the bombardment of Gaza, I set up a WhatsApp group for my Palestinian family to confirm each morning they're all still alive. "Could everyone sign in?" This morning, I got no response. An hour and fifteen minutes passed. Then, a message from my sister, Yasmeen, in Gaza City. The power had just come on and she had a -
How climate change contributed to the collapse of the Roman Empire and 7 other ancient civilizations
An ancient Roman amphitheater in Tunisia.DEA / G. DAGLI ORTI/Getty ImagesRecent emphasis on climate science has impacted how we think about ancient civilizations. Long-held theories about the collapse of ancient civilizations are starting to change.Climate change wasn't the only factor in their collapse, but it played a large role. Coliseums, giant stone heads, abandoned gardens, and ancient signs of plumbing are all signs of a prosperous and intelligent ancient civilization.So why lea -
Judge Engoron comes thisclose to accusing Trump of perjury in a written order
Donald Trump at his civil fraud trial in New York.Jane Rosenberg/ReutersTrump's testimony in a gag order hearing at his NY fraud trial "rings hollow and untrue," the judge writes.Despite Trump's words, it was "unmistakably clear" that he intentionally violated the gag, he writes.The judge stops short of calling Trump an outright perjuror.Lest there be any mistaking how angry the judge in Donald Trump's New York fraud trial is, he has now memorialized, on paper, why he did not believe the former -
'The economy is defying gravity': The no-recession trade is to buy high-yield bonds, JPMorgan portfolio manager says
A resilient consumer has helped stave off a recession so far.VIEW press / Getty Images"The economy is defying gravity" after third-quarter GDP approached 5%, according to JPMorgan portfolio manager Phil Camporeale.Camporeale said that the three tell-tale signs of a recession are nowhere to be found.If no recession materializes, as Camporeale expects, then investors should buy high-yield bonds.The recession everyone's been waiting for over the past 18 months isn't coming anytime soon after the re -
Hitting the gym, dog-sitting, and actually showing up to meet constituents: Here's how House Democrats spent their 3 weeks without a speaker
House Democrats during a roll-call vote for speaker of the House on October 17, 2023.Tom Williams/CQ-Roll Call via Getty Images
House Democrats were mostly stuck in DC for 3 weeks as the GOP struggled to choose a new speaker.
With few hearings and no bills moving, that meant much more downtime than usual.
Some Democrats told Insider they found a silver lining, like hitting the gym or dog-sitting.
Stuck in Washington but unable to pass legislation, members of the House of Representatives were in -
A 14-year-old won $25,000 for his simple solution to treat skin cancer. Just use soap.
Bekele with his mentor, Deborah Isabelle, who was assigned by 3M as part of the competition.3M
Eighth-grader Heman Bekele, 14, is the 2023 winner of 3M's Young Scientist Challenge.
He won $25,000 for his invention, which is a cost-effective way of treating skin cancer — with soap.
The theory behind the soap is that it works by mobilizing the body's immune system.
Extracurriculars for this Virginia middle schooler include the science fair, computer science, and treating cancer.Heman Bekele, -
'Grandpa Google' is in danger of becoming irrelevant to younger generations, company exec testifies at antitrust trial
The government has accused Google of illegally thwarting competitors.Justin Sullivan/Getty Images
Google leaders fear the search engine could become irrelevant to youth, a company exec testified.
Senior VP Prabhakar Raghavan said Google is beset by rivals and youth call it "Grandpa Google."
The company is defending itself in a landmark antitrust case brought by the US government.
WASHINGTON – A top Google executive testified Thursday that the company's success is precarious and said its le -
North Korea is sending massive amounts of munitions to Russia and is on track to be one of its biggest weapons suppliers, UK intel says
Kim Jong Un (left) and Vladimir Putin (right).Mikhail Svetlov via Getty Images
North Korea has shipped Russia more than 1,000 containers of munitions in recent weeks, intel suggests.
North Korea is now on track to become one of Russia's biggest foreign arms suppliers alongside Iran and Belarus, the UK's defense ministry said.
The White House is also closely monitoring the situation and said a military alliance between Russia and North Korea could destabilize the region.
The UK's defense ministry -
The S&P 500 is on the verge of a technical breakdown. Here's the sell signal to watch for.
Spencer Platt/Getty ImagesThe S&P 500 is on the verge of a technical breakdown, according to Fairlead Strategies' Katie Stockton.Stockton said that 4,180 is a key support level that needs to be preserved to prevent further selling.Extreme sentiment readings suggest to Stockton that a reversal in stock prices could be imminent.The S&P 500 is on the verge of a technical breakdown, but Fairlead Strategies' founder Katie Stockton says don't sell stocks just yet.That's because oversold extrem -
'Recessions always start with an economy that's been booming': An investing pioneer explains why he sees 50% chance of a downturn in 2024
Tim Boyle/Bloomberg via Getty Images
Investing pioneer Rob Arnott said there's a 50-50 chance of a recession in the coming year.
Many people think recessions don't begin with a booming economy, but the opposite is true, he told CNBC.
US stocks look particularly vulnerable, Arnott added, while bonds are more attractive than they were at lower yields.
The US economy just saw its strongest quarter of growth since 2021, but to investing pioneer Rob Arnott that doesn't mean the upbeat news will conti -
Sam Bankman-Fried takes the stand to testify — but the judge wants to know what he's going to say before he allows a jury to hear it
Sam Bankman-Fried took the witness stand.Chelsea Jia Feng/Insider
Sam Bankman-Fried took the witness stand on Thursday after days of testimony from his inner circle.
The FTX cofounder is facing seven charges of fraud over the collapse of the cryptocurrency exchange.
Bankman-Fried's testimony could be a last-ditch effort for his defense, but it could also be risky.
Sam Bankman-Fried took the witness stand Thursday to testify in his own defense in the criminal trial involving FTX's collapse.The ju -
The stock market is riskier and more volatile than it was in past decades. Here's why.
Spencer Platt/Getty Images
The S&P 500 has become more volatile in recent years, according to research firm DataTrek.
That's partly to do with bad luck and partly to do with unexpected events impacting the market.
The bigger factor is the massive growth of big tech stocks that make up more and more of the S&P 500.
Stocks are a risky investment, but huge intraday swings and relentless volatility seem to have only grown more frequent and intense in recent years. There are a numb -
Blake Masters is running for a Phoenix-area House seat — but he lives over 100 miles away in Tucson
Blake Masters on the campaign trail in 2022.Brandon Bell/Getty Images
Blake Masters is running for Congress following GOP Rep. Debbie Lesko's retirement.
But he lives in Tucson, more than 120 miles away from Lesko's Phoenix-area House district.
He'd previously contemplated another Senate run before Kari Lake got in the race.
Blake Masters is back — and he's running for the House of Representatives.In a video posted to Twitter on Thursday, the 2022 GOP nominee for US Senate in Arizona annou -
Auto execs are coming clean: EVs aren't working
General Motors CEO Mary Barra.Nic Antaya / Stringer / Getty ImagesAt earnings this week, several auto execs pulled back on EV targets.Dealers have been warning of slowing EV demand for months."This is a pretty brutal space," Mercedes-Benz's CFO said this week.With signs of growing inventory and slowing sales, auto industry executives admitted this week that their ambitious electric vehicle plans are in jeopardy, at least in the near term.Several C-Suite leaders at some of the biggest carmakers t -
Newly-elected House Speaker Mike Johnson is scheduled to give a talk at a Christian anti-transgender event held at a full-scale recreation of Noah's Ark
Speaker of the House candidate Rep. Mike Johnson arrives for the Speaker candidate forum in the Longworth House Office Building on Monday, October 23, 2023.Bill Clark/CQ-Roll Call, Inc via Getty Images
On Wednesday, the House elected Rep. Mike Johnson to become the newest speaker of the House.
Johnson is currently scheduled to speak at a Christian anti-transgender conference in 2024.
He also introduced a federal bill in 2022 akin to Florida's "Don't Say Gay" law.
Newly-elected Speaker of the Hou -
Unilever is selling Dollar Shave Club after 7 long, awkward years of trying to make it work
Unilever is selling Dollar Shave Club to private equity firm Nexus Capital Management, a shift for the brand that was once the posterchild for direct-to-consumer startups.Dollar Shave ClubUnilever is selling Dollar Shave Club seven years after paying $1 billion for the brand.Nexus Capital Management, which owns Toms, will have majority ownership of Dollar Shave.Sources previously told Insider that Dollar Shave struggled to grow under Unilever.Dollar Shave Club, the brand that pitched cheap razor -
Meet Rep. Mike Johnson, the new speaker of the House who introduced the national version of Florida's 'Don't Say Gay' law and played a key role in Trump's efforts to overturn the 2020 election
Rep. Mike Johnson of Louisiana at a hearing on Capitol Hill in July 2022.Tasos Katopodis/Getty Images
Rep. Mike Johnson of Louisiana was elected to be the next speaker of the House on Wednesday.
He's a staunch social conservative who introduced a bill similar to Florida's "Don't Say Gay" law.
He also moonlights as a Liberty University professor and spearheaded efforts to overturn the 2020 election.
Following three failed GOP speakership bids in the three weeks since Kevin McCarthy's ouster, -
Texas transplants are coming from these 10 states
El Paso, Texas.Sean Pavone/Getty ImagesOver 668,300 people moved into Texas between 2021 and 2022, according to new Census data.Many are relocating to the state for its affordable cost of living and political atmosphere.Those moving in are coming from states like California, Florida, and New York.Deepening ideological rifts, housing affordability challenges, and remote-work policies have encouraged many Americans to relocate to states that better match their needs.Texas, it seems, rises to the t -
No stock trading, a hefty home mortgage, and more than $120,000 from Liberty University: Here's what we know about newly-elected Speaker Mike Johnson's personal finances
Rep. Mike Johnson of Louisiana after being elected Speaker of the House on October 25.Matt McClain/The Washington Post via Getty Images
House Speaker Mike Johnson is much less wealthy than other members of Congress.
He doesn't trade any stocks and has a home mortgage valued between $250,000 and $500,000.
He's made more than $120,000 since 2018 teaching online classes at Liberty University.
The new speaker of the House is not as wealthy as most of his colleagues.That's perhaps the biggest insight -
Strong GDP growth isn't a sign the US has escaped a recession, and interest rates are a big headwind to economic activity, top economist Mohamed El-Erian says
Mohamed El-Erian.Rob Kim/Getty Images
The strong GDP report isn't a sign the US has dodged a recession, Mohamed El-Erian said.
High interest rates still pose a big threat to households, business, and the US government.
That poses a "significant headwind to economic activity," and the outlook for 2024 is uncertain.
This quarter's US GDP numbers came in hot, but that doesn't mean the US economy is out of the woods. The annualized gross domestic product, a measure of all goods prod -
Israel is preparing for a ground invasion of Gaza. Here's why it hasn't happened yet.
A picture taken from the southern Israeli city of Sderot on October 26, 2023 shows flares fired by the Israeli army over the northern Gaza Strip.Jack Guez/AFP via Getty ImagesIsrael said it would launch a ground invasion of Gaza after the October 7 terrorist attacks. But three weeks on, no such invasion has happened. Here are several reasons why the invasion has been delayed. Shortly after the Hamas terrorist attacks on October 7, Israel announced that it would launch a ground inv -
I worry I got into Yale only because I'm Black. I now do everything I can to prove I belong.
The author.Courtesy of Miles KirkpatrickAfter I got into Yale, I couldn't shake the thought that it was because of affirmative action.Eventually, I accepted that I would never know for sure and that I should move forward.I now do everything I can, including overworking myself, to prove I belong. This has been a bit of a secret, but when I applied to Yale, I chose to apply as an African American-studies major on a whim. I wasn't sure what I wanted to major in, but I was really into W.E.B. Du -
Home prices are dropping in Las Vegas. Here are 5 of the cheapest homes for sale right now — all under $300K.
There are some affordable homes in Las Vegas, Nevada right now, as prices have fallen over the last year.Sean Pavone/Shutterstock
Las Vegas home prices are finally starting to drop, following a pandemic real estate boom.
The median listing home price as of August 2023 was $456,848, down 2.7% from August 2022.
There are two and three-bedroom homes available for well under $300,000.
Home prices are finally starting to drop in Las Vegas, as the real estate market cools down after a pandemic boom.Th -
50 new EVs are hitting the US soon. It's not clear if there are buyers for them.
Jaguar electric vehicles.JaguarMore and more electric vehicles are coming even as demand slows.Dealers say selling EVs is getting a lot harder.Some of the new models in the pipeline might appeal more to the new demographic of EV shopper.Just as selling electric cars is getting a whole lot harder, a slew of them are slated to hit the market.Industry analysts tend to agree that more than 50 new electric models are expected to hit the US market in the next three years as the automotive industry con -
Stocks will rally sharply when Israel's ground invasion of Gaza kicks off, veteran investor says
Armed Israel Defence Forces soldiers.Getty Images
Stocks will rally, rather than plunge, if Israel sends troops into Gaza, according to one market veteran.
"That would be a signal to the market that it's going to be very sharp, very quick, and then we're going to be at the end of it," Tim Anderson said Wednesday.
Anderson's view clashes with the consensus on Wall Street, where investors are worried the Middle-Eastern crisis could escalate into a wider conflict.
Wall Street is fretting about Isra -
The House is finally back — and it has 3 weeks to prevent a government shutdown and protect some Americans from losing paychecks, food benefits, and housing loans
Speaker of the House Mike Johnson.Tom Brenner for The Washington Post via Getty ImagesAfter three weeks, the House elected Rep. Mike Johnson to serve as Speaker of the House.Now, Congress has until November 17 to avert a government shutdown.Johnson proposed another short-term funding measure to ensure Americans don't lose federal benefits.It took three weeks for congressional Republicans to agree on a new speaker of the House. Now Congress has the same amount of time to find a solution to preven -
'AI advancement driving engagement': Here's how Wall Street is reacting to Meta's 3rd-quarter earnings
Meta Platforms CEO Mark ZuckerbergJeff Bottari/Getty ImagesMeta Platforms stock fell about 3% on Thursday after the company's third-quarter earnings report.The parent company of Facebook, Instagram, and WhatsApp reported a continued rebound in advertising revenue that beat analyst estimates.Here's how Wall Street analysts are reacting to Alphabet's third-quarter earnings report.Meta Platforms stock fell as much as 4% on Wednesday as investors reacted to the social media company's third-quarter e -
A gay Israeli soldier says he's going to fly the LGBTQ+ flag on his tank while fighting Hamas
Yoav Atzmoni holding an LGBTQ+ flag in front of two tanks in IsraelCourtesy of Yoav AtzmoniA gay Israeli soldier plans to take an LGBTQ+ flag to fight against Hamas.Israel has more LGBTQ+ rights protections compared to many other Middle Eastern countries.If Hamas wins the war, Israel could lose these rights, Yoav Atzmoni told Insider.A gay Israeli soldier said he plans to display his LGBTQ+ flag on his tank as he fights against Hamas, despite it likely making him larger a target for attacks by m -
3 cybersecurity threats to consider when building a private 5G network
A private 5G network is inherently secure.Kobus Louw/Getty Images
Businesses may elect to build their own private 5G networks.
5G is built to be secure, but external interactions can introduce security concerns.
Experts recommend building and securing a 5G network the same way you would a cloud network.
This article is part of "5G Playbook," a series exploring one of our time's most important tech innovations.
Business owners who elect to build their own private 5G networks rather than cho -
New House Speaker Mike Johnson once wrote that homosexuality will lead to 'chaos and sexual anarchy'
US Rep. Mike Johnson leaves a House Republican conference meeting in the Longworth House Office Building on Capitol Hill on October 24, 2023 in Washington, DC.Drew AngererRep. Mike Johnson of Louisiana was elected to be the speaker of the House on Wednesday.He has a history of making anti-LGBTQ+ remarks and opposing the community's rights in lawsuits.Homosexuality is an "inherently unnatural" and "dangerous lifestyle," he once wrote, according to CNN.Newly-elected speaker of the House, Mike John -
The 'Barbie' movie turning into a global phenomenon helped boost sales for the plastic doll – but not by as much as you might expect
Ryan Gosling and Margot Robbie as Ken and Barbie in "Barbie."Courtesy of Warner Bros.Greta Gerwig's "Barbie" movie pushed up sales for the iconic doll, Mattel execs say.Mattel's CEO said the movie had broadened Barbie's fan base and boosted revenues.Global gross billings in the quarter were up 14%, but this wasn't enough to offset poor performance in the first half of 2023.Greta Gerwig's "Barbie" blockbuster helped boost sales for the plastic doll following a poor performance in the first half o -
Live updates: Amazon beats estimates for Q3 sales and profit, stock pops
Amazon Prime's Big Deal Days sales event offers a late-year chance to save big.View Press / Corbis News
Amazon reported third-quarter sales and profit figures that beat analyst estimates.
But AWS revenue slightly missed forecasts.
The stock popped more than 5% immediately after the results.
Amazon reported third-quarter earnings on Thursday, with both sales and profit beating analyst forecasts. The company fell slightly short of estimates for AWS revenue.Investors will be focused on the earnings -
The bond market is acting like it's 1969, when rising yields preceded a recession, JPMorgan says
NoDerog/Getty Images
The surge in long-duration Treasury yields mirrors the 1969 Fed tightening cycle, JPMorgan said.
That year, yields rose for three months after the final Fed interest rate hike.
The trend ended with a recession, and today's yields might only stop climbing when a downturn kicks in.
With the Federal Reserve's interest rates on pause since July, the upswing in long-duration Treasury yields is not a typical market reaction, according to JPMorgan. In a note Wednesday, analyst -
'Cries of pain' at smaller firms are being drowned by exuberance elsewhere in the market - but rising defaults point to a recession coming, SocGen says
Small businesses are feeling the pain of credit conditions.Mike Blake/Reuters
Smaller firms are struggling under the weight of interest rates and rising defaults are a recessionary signal.
According to Societe Generale, credit conditions at small companies are in line with what's seen in a downturn.
"The notion that we are at the start of a new economic cycle seems preposterous to me," Albert Edwards wrote.
Big Tech and the "Magnificent Seven" stocks powering big gains for the -
Meta extends its 3-day stock skid to 8% after warning of an advertising slowdown
Meta CEO Mark Zuckerberg.Johannes Simon/Getty Images
Meta Platforms shares dropped in 3% Thursday despite an earnings beat.
The Big Tech giant beat analysts' forecasts, but execs warned of a fourth-quarter slowdown in advertising revenues.
Meta is on a four-day skid, with its stock down around 8% since Monday.
Meta Platforms' stock price slipped Thursday, with so-so earnings failing to stop a bad run for the Big Tech giant.Shares were down 3% shortly after the opening bell as investors reacted t
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