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MarketWatch is a verified business account on Instagram with 572.6K followers and 2,955 posts.

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Posted: Jun 6, 2026, 7:00 AM
Caption: A remarkable two-month sprint higher for major stock-market indexes encountered its first major hiccup on Friday as the Nasdaq Composite plummeted more than 1,121 points — the biggest one day point drop on record, according to Dow Jones Market Data.⁠ ⁠ That translated to a 4.2% decline for the index, the biggest in percentage-point terms since April 10, 2025, data showed. A 2.6% drop for the S&P 500 on Friday was its worst since Oct. 10.⁠ ⁠ Taken together, Friday’s selloff wiped $1.8 trillion of market value from members of the S&P 500, according to Dow Jones Market Data.⁠ ⁠ The tumult wasn’t confined to stocks; prices of bonds and crude oil also fell. The 10-year Treasury note yield rose 4 basis points — 0.04 percentage points — to 4.518%, FactSet data showed. Bond yields and bond prices move inversely to one another.⁠ ⁠ Many investors blamed Friday’s strong May jobs data for inspiring the carnage in markets. President Trump took to Truth Social to remark on how strange it seemed that good news about the U.S. economy would be received so poorly by market participants.⁠ ⁠ “With a great Jobs Report, like just announced, stocks should go up, not down. That’s the way it was for 200 years. Growth does not mean inflation!” Trump said in a post on Truth Social.⁠ ⁠ Nevertheless, investors were worried that a labor market on the mend would make it more difficult for the Federal Reserve to justify leaving interest rates on hold.⁠ ⁠ Expectations for more rate cuts this year evaporated months ago. Since the start of the Iran conflict, markets have been steadily pricing in a higher likelihood of rate hikes in 2026, according to CME Group data.⁠ ⁠ Coming on the heels of a handful of promising economic reports, the May jobs data appeared to confirm that, rather than weakening, the labor market was picking up strength.⁠ ⁠ “Yields up, oil down, that means investors are scared that the Fed is going to hike,” said Jose Torres, an economist at Interactive Brokers.⁠ ⁠ Read more at the link in our bio.

Likes: 86
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Posted: Jun 5, 2026, 9:10 PM
Caption: With SpaceX, Elon Musk is launching an unprecedented initial public offering with an unusual focus on individual investors. That’s because SpaceX is depending on their support to justify its massive valuation.⁠ ⁠ “Retail participation will be a defining feature of the SpaceX IPO,” Truist analyst Sam Grelck said in a recent report, noting that the company has reserved up to 30% of its allocated shares for individual investors. If Musk’s plans are successful, everyday investors could buy as much as $23 billion in SpaceX shares in the IPO.⁠ ⁠ That’s unprecedented in the modern era of IPOs, experts say. Often, retail investors can expect an allocation of around 5%, experts say. Under normal circumstances, Cerity Partners chief market strategist Jim Lebenthal explained, IPO underwriters are incentivized to reward their most important institutional customers with allocations.⁠ ⁠ Instead, retail is expected to be a major force and to make up for the limits of demand coming from traditional Wall Street players.⁠ ⁠ That’s why Fidelity, one of several financial-services firms tapped to handle retail allocation, said Thursday that it would make the IPO available to customers with as little as $2,000 in a retail brokerage account. Usually, eligibility is reserved for customers with at least $100,000 in certain assets at Fidelity. That minimum can be extended as high as $500,000 in certain IPOs.⁠ ⁠ SpaceX itself reiterated during its IPO road show that “retail investor participation is important to SpaceX.”⁠ ⁠ SpaceX is seeking proceeds of about $75 billion at a $1.75 trillion valuation. Through May, the rest of the U.S. IPO market had raised just $50.83 billion across 152 deals in 2026, according to S&P Global Market Intelligence data. SpaceX plans to begin trading on June 12.⁠ ⁠ Patrick Patin, a portfolio manager at Great Lakes Private Wealth, a Michigan-based financial advisory firm, told MarketWatch that the only IPO he’s seen with roughly comparable interest from everyday investors was Facebook, now Meta Platforms, in its 2012 public offering.⁠ ⁠ Read more at the link in our bio.

Likes: 129
Comments: 7
Posted: Jun 5, 2026, 5:15 PM
Caption: The Trump administration planned to place 2.7 million living people in a so-called death file that would have cut off their ability to work, receive benefits or use banking services as part of an immigration-enforcement push, a former Social Security executive said in a whistleblower lawsuit.⁠ ⁠ Jeremiah Schofield, who worked at Social Security for 25 years before leaving the agency in October, refused to help with the plan after government lawyers warned that falsely marking living people as dead could violate federal law. ⁠ ⁠ The latest whistleblower lawsuit, which was first reported by the Washington Post, comes after the Trump administration entity known as the Department of Government Efficiency embedded itself in the Social Security Administration last year with the stated aim of rooting out waste, fraud and abuse. “DOGE,” as Elon Musk dubbed the entity, has come under fire from two other whistleblowers for mishandling data and compromising the Social Security numbers of every American.⁠ ⁠ The Department of Homeland Security initially asked the Social Security Administration to mark about 6,000 living people as dead, and those people were added to the death file, according to the latest complaint. They were later removed from that database, the complaint said.⁠ ⁠ Then in April 2025, DHS transmitted to SSA a second list of 2.7 million individuals to be marked as dead, the whistleblower said.⁠ ⁠ Schofield expressed concern that the plan was part of an effort to “deport immigrants, regardless of whether they were suspected terrorists or convicted violent criminals,” according to the complaint. ⁠ ⁠ When asked why DHS wanted the 2.7 million people to be marked as dead, a DOGE worker said that “either the lives of these individuals would be ruined … and they would be driven to ‘self-deport’” or “they would have to go to a local Social Security office, at which point SSA field office staff would send them to DHS offices,” where officials would “detain them for deportation,” according to the whistleblower complaint.⁠ ⁠ Read more at the link in our bio.

Likes: 25
Comments: 1
Posted: Jun 5, 2026, 12:00 PM
Caption: When the first of each month comes around, Uriah Fish owes his Denver-area apartment complex $1,665 for rent. Plus a $17.91 trash-removal fee. And a $10 charge for trash hauling and $15 for valet trash service, on top of several other fees.⁠ ⁠ Fish’s monthly housing costs total about $1,770 with all the added fees — and that’s not including gas, electric, water and sewer charges.⁠ ⁠ One of those fees is for RentPlus, a service marketed as helping renters build credit that Fish alleges he was auto-enrolled in. Fish, who said he doesn’t recall reading anything about it when he signed his lease, has been charged $9.95 monthly since March 2025, according to a class-action complaint made by Fish and other tenants against RentPlus’s parent company.⁠ ⁠ The lawsuit was filed Monday by attorneys at Towards Justice against the property-management tech company Entrata. Entrata says its RentPlus service boosts renters’ credit scores by reporting positive rent-payment history to credit bureaus. Tenants allege that Entrata misleads tenants about its rent-reporting program, pays property managers to enroll tenants, applies charges for services it has not provided and violates federal and state consumer-protection laws.⁠ ⁠ RentPlus’s website says the service “makes it possible to lift your credit score by simply paying your regular rent on time and enjoy access to ID and fraud protection and financial security-building resources.”⁠ ⁠ Rent-payment reporting has generally been promoted as a consumer-friendly tool. Landlords historically did not report on-time rent payments to credit bureaus, but housing and consumer advocates have long argued that renters should receive credit for making their largest monthly payment on time. In recent years, property managers and third-party companies have increasingly begun reporting rental-payment data, which tenants can request from their property managers if they’re looking to build their credit history. The lawsuit does not challenge rent reporting itself, but rather the way the plaintiffs allege RentPlus enrolls and charges consumers for the service.⁠ ⁠ Read more at the link in bio.

Likes: 172
Comments: 12
Posted: Jun 4, 2026, 8:45 PM
Caption: With gas prices up more than $1 a gallon from last year’s average, Americans are turning to buy-now-pay-later at the pump.⁠ ⁠ That’s according to new data from Block, which announced Tuesday the availability of its BNPL service Afterpay on the Cash App debit card. A pilot program of the integration found that BNPL usage is expanding into everyday spending categories, with the average customer using Afterpay nearly 3.6 times for gas purchases and 2.2 times for grocery purchases between Feb. 4 and May 15.⁠ ⁠ With the average gas price sitting at about $4.26 a gallon as of Monday afternoon and grocery prices up nearly 3% year over year in April, budget-squeezed households are seeking out flexible payment options. Some are even dipping into their emergency savings just to cover the cost of a tank of gas. While some might be turning to these short-term loans to ease the inflation burden, Owen Jennings, Block’s executive officer and head of business, said it’s also part of a broader shift away from traditional revolving credit toward BNPL products.⁠ ⁠ “My diagnosis would more be that there’s a mixed shift, especially for younger folks, away from traditional credit cards and toward these more transparent, simpler, non-revolving solutions,” Jennings said in an exclusive interview with MarketWatch. “What we’re seeing with Afterpay on the Cash App card is just everyday spending. We’re really over-indexing toward gas stations and fuel, grocery stores, food.”⁠ ⁠ Read more at the link in our bio.

Likes: 260
Comments: 3
Posted: Jun 4, 2026, 6:15 PM
Caption: SpaceX paid Tuttle Capital Management to relinquish the ticker symbol “SPCX” ahead of the Elon Musk company’s highly anticipated IPO, MarketWatch has learned.⁠ ⁠ The confirmation by a person familiar with the transaction settles weeks of speculation after Tuttle abruptly changed the ticker symbol of one its ETFs from “SPCX” to “SPCK” in April. That decision sparked speculation that the Musk-controlled company had paid Tuttle for the trading symbol.⁠ ⁠ The person spoke on condition of anonymity and would not discuss the dollar figure involved in the transaction.⁠ ⁠ In a post on X published Thursday, the official SpaceX account thanked Tuttle Capital for the ticker symbol.⁠ ⁠ Short, memorable ticker symbols are often viewed as valuable branding material, particularly during high-profile IPOs.⁠ ⁠ In a reply to Musk on X late last year, Matt Tuttle, the founder of Tuttle Capital, indicated he would be open to giving up the ticker symbol.⁠ ⁠ Tuttle Capital’s SPAC & New Issue ETF launched in December 2020, according to SEC filings. It traded under the symbol “SPCX” until April 7, when it officially began trading under the “SPCK” symbol. The ETF has about $7 million in assets under management, according to FactSet data.⁠ ⁠ SpaceX did not immediately respond to a request for comment.⁠ ⁠ The company said in an amended regulatory filing on Wednesday that it expected to go public at $135 per share, which would make it the biggest IPO in history. That puts the company on track for a nearly $1.75 trillion market valuation.⁠ ⁠ The price is subject to change as the IPO draws closer and the company gets a clearer sense of demand.

Likes: 65
Comments: 3
Posted: Jun 4, 2026, 3:30 PM
Caption: The worst time to find a job since the pandemic might be over, but it isn’t easy for many people, especially younger ones, to get hired in today’s economy.⁠ ⁠ The May employment report, due Friday, will offer more clues on whether a broad rebound in hiring is under way — or whether the labor market is just treading water. Here’s what to watch.

Likes: 134
Comments: 3
Posted: Jun 4, 2026, 3:00 AM
Caption: For many years, day trading was reserved for professionals and the wealthy — not just figuratively, but because of a restriction known as the pattern day-trading rule.⁠ ⁠ Essentially, individual investors with less than $25,000 in their margin brokerage account couldn’t place four or more day trades — which involves opening and exiting a position the same day — within five trading days. If they did, their brokerage would label them as a “pattern day trader” and restrict them from placing any more trades for weeks or months.⁠ ⁠ Now, the pattern day-trading rule is going away. The Financial Industry Regulatory Authority and the Securities and Exchange Commission both voted to remove the restriction, with the change taking effect on Thursday. Brokerages have up to 18 months to adopt these changes, but some will eliminate the day-trading restriction within days.⁠ ⁠ The rule first took effect in 2001 in response to the dot-com bubble. At the time, not only did new internet technologies cause the stock market to rise and crash, but they also drove a new wave of retail investors into the market and made it a lot easier for them to trade actively. The pattern day-trading rule was meant not only to protect retail investors from overtrading, but also to protect brokerages, which had to meet certain cash balance and margin requirements.⁠ ⁠ By having the limit on day trading at $25,000, regulators intended to preserve brokerage balances and protect traders with less money, while allowing investors with more money to day trade if they want.⁠ ⁠ “To me, the two intentions of rule were quite logical,” James Kostulias, head of trading services at Charles Schwab, told MarketWatch. “We want to extend to some of the more sophisticated investors additional intraday buying power, because there’s different risks associated with intraday versus overnight trading. And two, we want to make sure we’re not extending those risks to less sophisticated, less affluent investors who aren’t ready to handle it.”⁠ ⁠ However, Kostulias said, the rule ended up creating confusion among retail traders.⁠ ⁠ Read more at the link in bio.

Likes: 116
Comments: 11
Posted: Jun 3, 2026, 7:15 PM
Caption: Sportsbooks were sweating more than the players when the New York Knicks and San Antonio Spurs booked their tickets to the NBA Finals. That’s because either the Knicks or Spurs winning a title could be a big problem for their businesses.⁠ ⁠ With the Knicks, sportsbooks could lose because of how many people have been betting on them to win the championship all season. The New York team has attracted roughly half of all money wagered on the NBA Finals this season on DraftKings Sportsbook.⁠ ⁠ For the Spurs, it’s a different story. Led by French phenom Victor Wembanyama, they’re more of a Cinderella story; they had little chance of winning the NBA title at the beginning of the year, according to the oddsmakers. This meant that even a small wager on the Spurs promised a huge payout. The Spurs entered the season at +6500 odds to win the title on DraftKings — meaning a winning $100 bet would yield a profit of $6,500 — and would be one of the biggest preseason underdogs to win the title in league history.⁠ ⁠ So if the Knicks win, sportsbooks will lose because bettors have been putting a lot of money on them all season long, creating a liability. And if the Spurs win, sportsbooks will still lose, because the team from south-central Texas were such a longshot at the beginning of the year that the payouts would also create a liability. It’s a lose-lose situation for bookmakers.⁠ ⁠ Multiple sportsbooks told MarketWatch about this unique situation but declined to say how much in losses it could mean. Pressed about which team’s triumph would result in bigger losses, the bookmakers indicated the Spurs could do more damage to their bottom lines.⁠ ⁠ “The sportsbook will be cheering for the Knicks, as San Antonio is the biggest remaining liability on the futures book,” Anthony Parenti, a sports trader for BetMGM, told MarketWatch.⁠ ⁠ “[The] Knicks are a loser for the book as well, but [the] Spurs are bigger,” a BetMGM spokesperson added.⁠ ⁠ In other words, casual and professional bettors will likely be scoring a rare victory over the house.⁠ ⁠ Read more at the link in our bio.

Likes: 85
Comments: 5
Posted: Jun 3, 2026, 1:30 PM
Caption: President Donald Trump on Tuesday signed an executive order on artificial intelligence that aims to set up a framework for AI companies to voluntarily inform the federal government about new models 30 days before their release.⁠ ⁠ About two weeks ago, Trump had been slated to sign an order with a review window of 90 days in an Oval Office ceremony — but he called it off, saying he was worried about hindering U.S. AI companies as they compete against Chinese rivals.⁠ ⁠ The signing on Tuesday didn’t happen in a public ceremony, and the final version of the executive order drew criticism.⁠ ⁠ The order was described as “on the verge of meaningless” by J.B. Branch, counsel for AI governance and technology policy at Public Citizen, a left-leaning advocacy organization.⁠ ⁠ “Models powerful enough to threaten cybersecurity and national security warrant real oversight. Congress and the administration should enact comprehensive federal AI legislation with enforceable safeguards, transparency requirements, independent testing and meaningful protections for workers, consumers, children and civil rights,” Branch said in a statement.⁠ ⁠ Even so, the executive order represents a shift by the Trump administration, which had adopted a hands-off approach toward the booming AI field shortly after Inauguration Day last year. One driver of the shift was Anthropic’s limited April release of Claude Mythos — with that model withheld from the general public because of its ability to autonomously find and exploit software vulnerabilities.⁠ ⁠ Anthropic on Tuesday announced it has extended its release of Mythos to about 150 new organizations, following several weeks of collaboration with the U.S. government and other players.⁠ ⁠ Trump’s order on AI received praise from some analysts, such as Ryan Fedasiuk, a fellow at the American Enterprise Institute, a right-leaning think tank. It features a “common-sense, light-touch framework designed to get the federal government’s gears in motion,” Fedasiuk said in a social-media post on Tuesday.⁠ ⁠ Read more at the link in our bio.

Likes: 127
Comments: 5
Posted: Jun 2, 2026, 8:45 PM
Caption: Wall Street investors use financial derivatives to hedge against shifts in interest rates and exchange rates. Farmers use them to lock in the price of their crops.⁠ ⁠ Now, one New York City bar is using Kalshi, a CFTC-regulated prediction-markets platform, to hedge against another kind of risk: The possibility that the New York Knicks will prevail on Wednesday when they face off against the San Antonio Spurs in Game 1 of the 2026 NBA Finals.⁠ ⁠ If the Knicks win, Andrew Freedman, a Manhattan lawyer and owner of Upper East Side bar The Jeffrey, has promised to cover up to $100 of the bar tab for every patron at his establishment that night — including drinks and food.⁠ ⁠ Freedman told MarketWatch that he had estimated his promotion would cost in the ballpark of $13,000, based on his outlay from a previous one.⁠ ⁠ The idea for the hedge came after a promotion offered by Freedman in May caught the attention of Bloomberg News. During Game 4 of the Eastern Conference Finals between the Knicks and the Cleveland Cavaliers, Freedman promised he would knock 1% off patrons‘ tabs for every point in the Knicks’ margin of victory. The Knicks ended up triumphing 130-93, a victory that sent the team to the NBA finals for the first time in 27 years. The promotion cost Freedman about $4,000, he told MarketWatch.⁠ ⁠ “Kalshi saw the Bloomberg article on our Cavs game promo and reached out and said this was an awesome idea and that next time we should hedge on Kalshi. I looked into it and thought it was a great idea. So we went with it and upped the ante,” Freedman told MarketWatch via email.⁠ ⁠ Freedman said he is considering holding similar promotions for future games in the series.⁠ ⁠ A representative for Kalshi told MarketWatch that the bar’s decision to manage its risk on its platform showed that sports-based event contracts have economic utility beyond simply allowing users to bet on the outcomes.⁠ ⁠ “This is exactly what Kalshi contracts are designed for, right? If you have risk tied to an event happening in the real world, this is what you can use prediction market contracts to help offset it,” the Kalshi representative told MarketWatch.⁠ ⁠ Read more at the link in bio.

Likes: 33
Comments: 2
Posted: Jun 2, 2026, 5:18 PM
Caption: When I first graduated, I moved back in with my parents and sulked around because I was unemployed and without an internship lined up. Looking back, I wish I’d spent that time working. Retail and restaurant jobs wouldn’t have magically launched my career. But they would have put money in my pocket, added experience to my résumé and helped me build skills employers value. Head to the link in our bio to find out why service-industry work deserves a second look from new graduates. — 👀 What was your first job after college?

Likes: 9
Comments: 1
Posted: Jun 6, 2026, 7:00 AM
Caption: A remarkable two-month sprint higher for major stock-market indexes encountered its first major hiccup on Friday as the Nasdaq Composite plummeted more than 1,121 points — the biggest one day point drop on record, according to Dow Jones Market Data.⁠ ⁠ That translated to a 4.2% decline for the index, the biggest in percentage-point terms since April 10, 2025, data showed. A 2.6% drop for the S&P 500 on Friday was its worst since Oct. 10.⁠ ⁠ Taken together, Friday’s selloff wiped $1.8 trillion of market value from members of the S&P 500, according to Dow Jones Market Data.⁠ ⁠ The tumult wasn’t confined to stocks; prices of bonds and crude oil also fell. The 10-year Treasury note yield rose 4 basis points — 0.04 percentage points — to 4.518%, FactSet data showed. Bond yields and bond prices move inversely to one another.⁠ ⁠ Many investors blamed Friday’s strong May jobs data for inspiring the carnage in markets. President Trump took to Truth Social to remark on how strange it seemed that good news about the U.S. economy would be received so poorly by market participants.⁠ ⁠ “With a great Jobs Report, like just announced, stocks should go up, not down. That’s the way it was for 200 years. Growth does not mean inflation!” Trump said in a post on Truth Social.⁠ ⁠ Nevertheless, investors were worried that a labor market on the mend would make it more difficult for the Federal Reserve to justify leaving interest rates on hold.⁠ ⁠ Expectations for more rate cuts this year evaporated months ago. Since the start of the Iran conflict, markets have been steadily pricing in a higher likelihood of rate hikes in 2026, according to CME Group data.⁠ ⁠ Coming on the heels of a handful of promising economic reports, the May jobs data appeared to confirm that, rather than weakening, the labor market was picking up strength.⁠ ⁠ “Yields up, oil down, that means investors are scared that the Fed is going to hike,” said Jose Torres, an economist at Interactive Brokers.⁠ ⁠ Read more at the link in our bio.

Likes: 86
Comments: 5
Posted: Jun 5, 2026, 9:10 PM
Caption: With SpaceX, Elon Musk is launching an unprecedented initial public offering with an unusual focus on individual investors. That’s because SpaceX is depending on their support to justify its massive valuation.⁠ ⁠ “Retail participation will be a defining feature of the SpaceX IPO,” Truist analyst Sam Grelck said in a recent report, noting that the company has reserved up to 30% of its allocated shares for individual investors. If Musk’s plans are successful, everyday investors could buy as much as $23 billion in SpaceX shares in the IPO.⁠ ⁠ That’s unprecedented in the modern era of IPOs, experts say. Often, retail investors can expect an allocation of around 5%, experts say. Under normal circumstances, Cerity Partners chief market strategist Jim Lebenthal explained, IPO underwriters are incentivized to reward their most important institutional customers with allocations.⁠ ⁠ Instead, retail is expected to be a major force and to make up for the limits of demand coming from traditional Wall Street players.⁠ ⁠ That’s why Fidelity, one of several financial-services firms tapped to handle retail allocation, said Thursday that it would make the IPO available to customers with as little as $2,000 in a retail brokerage account. Usually, eligibility is reserved for customers with at least $100,000 in certain assets at Fidelity. That minimum can be extended as high as $500,000 in certain IPOs.⁠ ⁠ SpaceX itself reiterated during its IPO road show that “retail investor participation is important to SpaceX.”⁠ ⁠ SpaceX is seeking proceeds of about $75 billion at a $1.75 trillion valuation. Through May, the rest of the U.S. IPO market had raised just $50.83 billion across 152 deals in 2026, according to S&P Global Market Intelligence data. SpaceX plans to begin trading on June 12.⁠ ⁠ Patrick Patin, a portfolio manager at Great Lakes Private Wealth, a Michigan-based financial advisory firm, told MarketWatch that the only IPO he’s seen with roughly comparable interest from everyday investors was Facebook, now Meta Platforms, in its 2012 public offering.⁠ ⁠ Read more at the link in our bio.

Likes: 129
Comments: 7
Posted: Jun 5, 2026, 5:15 PM
Caption: The Trump administration planned to place 2.7 million living people in a so-called death file that would have cut off their ability to work, receive benefits or use banking services as part of an immigration-enforcement push, a former Social Security executive said in a whistleblower lawsuit.⁠ ⁠ Jeremiah Schofield, who worked at Social Security for 25 years before leaving the agency in October, refused to help with the plan after government lawyers warned that falsely marking living people as dead could violate federal law. ⁠ ⁠ The latest whistleblower lawsuit, which was first reported by the Washington Post, comes after the Trump administration entity known as the Department of Government Efficiency embedded itself in the Social Security Administration last year with the stated aim of rooting out waste, fraud and abuse. “DOGE,” as Elon Musk dubbed the entity, has come under fire from two other whistleblowers for mishandling data and compromising the Social Security numbers of every American.⁠ ⁠ The Department of Homeland Security initially asked the Social Security Administration to mark about 6,000 living people as dead, and those people were added to the death file, according to the latest complaint. They were later removed from that database, the complaint said.⁠ ⁠ Then in April 2025, DHS transmitted to SSA a second list of 2.7 million individuals to be marked as dead, the whistleblower said.⁠ ⁠ Schofield expressed concern that the plan was part of an effort to “deport immigrants, regardless of whether they were suspected terrorists or convicted violent criminals,” according to the complaint. ⁠ ⁠ When asked why DHS wanted the 2.7 million people to be marked as dead, a DOGE worker said that “either the lives of these individuals would be ruined … and they would be driven to ‘self-deport’” or “they would have to go to a local Social Security office, at which point SSA field office staff would send them to DHS offices,” where officials would “detain them for deportation,” according to the whistleblower complaint.⁠ ⁠ Read more at the link in our bio.

Likes: 25
Comments: 1
Posted: Jun 5, 2026, 12:00 PM
Caption: When the first of each month comes around, Uriah Fish owes his Denver-area apartment complex $1,665 for rent. Plus a $17.91 trash-removal fee. And a $10 charge for trash hauling and $15 for valet trash service, on top of several other fees.⁠ ⁠ Fish’s monthly housing costs total about $1,770 with all the added fees — and that’s not including gas, electric, water and sewer charges.⁠ ⁠ One of those fees is for RentPlus, a service marketed as helping renters build credit that Fish alleges he was auto-enrolled in. Fish, who said he doesn’t recall reading anything about it when he signed his lease, has been charged $9.95 monthly since March 2025, according to a class-action complaint made by Fish and other tenants against RentPlus’s parent company.⁠ ⁠ The lawsuit was filed Monday by attorneys at Towards Justice against the property-management tech company Entrata. Entrata says its RentPlus service boosts renters’ credit scores by reporting positive rent-payment history to credit bureaus. Tenants allege that Entrata misleads tenants about its rent-reporting program, pays property managers to enroll tenants, applies charges for services it has not provided and violates federal and state consumer-protection laws.⁠ ⁠ RentPlus’s website says the service “makes it possible to lift your credit score by simply paying your regular rent on time and enjoy access to ID and fraud protection and financial security-building resources.”⁠ ⁠ Rent-payment reporting has generally been promoted as a consumer-friendly tool. Landlords historically did not report on-time rent payments to credit bureaus, but housing and consumer advocates have long argued that renters should receive credit for making their largest monthly payment on time. In recent years, property managers and third-party companies have increasingly begun reporting rental-payment data, which tenants can request from their property managers if they’re looking to build their credit history. The lawsuit does not challenge rent reporting itself, but rather the way the plaintiffs allege RentPlus enrolls and charges consumers for the service.⁠ ⁠ Read more at the link in bio.

Likes: 172
Comments: 12
Posted: Jun 4, 2026, 8:45 PM
Caption: With gas prices up more than $1 a gallon from last year’s average, Americans are turning to buy-now-pay-later at the pump.⁠ ⁠ That’s according to new data from Block, which announced Tuesday the availability of its BNPL service Afterpay on the Cash App debit card. A pilot program of the integration found that BNPL usage is expanding into everyday spending categories, with the average customer using Afterpay nearly 3.6 times for gas purchases and 2.2 times for grocery purchases between Feb. 4 and May 15.⁠ ⁠ With the average gas price sitting at about $4.26 a gallon as of Monday afternoon and grocery prices up nearly 3% year over year in April, budget-squeezed households are seeking out flexible payment options. Some are even dipping into their emergency savings just to cover the cost of a tank of gas. While some might be turning to these short-term loans to ease the inflation burden, Owen Jennings, Block’s executive officer and head of business, said it’s also part of a broader shift away from traditional revolving credit toward BNPL products.⁠ ⁠ “My diagnosis would more be that there’s a mixed shift, especially for younger folks, away from traditional credit cards and toward these more transparent, simpler, non-revolving solutions,” Jennings said in an exclusive interview with MarketWatch. “What we’re seeing with Afterpay on the Cash App card is just everyday spending. We’re really over-indexing toward gas stations and fuel, grocery stores, food.”⁠ ⁠ Read more at the link in our bio.

Likes: 260
Comments: 3
Posted: Jun 4, 2026, 6:15 PM
Caption: SpaceX paid Tuttle Capital Management to relinquish the ticker symbol “SPCX” ahead of the Elon Musk company’s highly anticipated IPO, MarketWatch has learned.⁠ ⁠ The confirmation by a person familiar with the transaction settles weeks of speculation after Tuttle abruptly changed the ticker symbol of one its ETFs from “SPCX” to “SPCK” in April. That decision sparked speculation that the Musk-controlled company had paid Tuttle for the trading symbol.⁠ ⁠ The person spoke on condition of anonymity and would not discuss the dollar figure involved in the transaction.⁠ ⁠ In a post on X published Thursday, the official SpaceX account thanked Tuttle Capital for the ticker symbol.⁠ ⁠ Short, memorable ticker symbols are often viewed as valuable branding material, particularly during high-profile IPOs.⁠ ⁠ In a reply to Musk on X late last year, Matt Tuttle, the founder of Tuttle Capital, indicated he would be open to giving up the ticker symbol.⁠ ⁠ Tuttle Capital’s SPAC & New Issue ETF launched in December 2020, according to SEC filings. It traded under the symbol “SPCX” until April 7, when it officially began trading under the “SPCK” symbol. The ETF has about $7 million in assets under management, according to FactSet data.⁠ ⁠ SpaceX did not immediately respond to a request for comment.⁠ ⁠ The company said in an amended regulatory filing on Wednesday that it expected to go public at $135 per share, which would make it the biggest IPO in history. That puts the company on track for a nearly $1.75 trillion market valuation.⁠ ⁠ The price is subject to change as the IPO draws closer and the company gets a clearer sense of demand.

Likes: 65
Comments: 3
Posted: Jun 4, 2026, 3:30 PM
Caption: The worst time to find a job since the pandemic might be over, but it isn’t easy for many people, especially younger ones, to get hired in today’s economy.⁠ ⁠ The May employment report, due Friday, will offer more clues on whether a broad rebound in hiring is under way — or whether the labor market is just treading water. Here’s what to watch.

Likes: 134
Comments: 3
Posted: Jun 4, 2026, 3:00 AM
Caption: For many years, day trading was reserved for professionals and the wealthy — not just figuratively, but because of a restriction known as the pattern day-trading rule.⁠ ⁠ Essentially, individual investors with less than $25,000 in their margin brokerage account couldn’t place four or more day trades — which involves opening and exiting a position the same day — within five trading days. If they did, their brokerage would label them as a “pattern day trader” and restrict them from placing any more trades for weeks or months.⁠ ⁠ Now, the pattern day-trading rule is going away. The Financial Industry Regulatory Authority and the Securities and Exchange Commission both voted to remove the restriction, with the change taking effect on Thursday. Brokerages have up to 18 months to adopt these changes, but some will eliminate the day-trading restriction within days.⁠ ⁠ The rule first took effect in 2001 in response to the dot-com bubble. At the time, not only did new internet technologies cause the stock market to rise and crash, but they also drove a new wave of retail investors into the market and made it a lot easier for them to trade actively. The pattern day-trading rule was meant not only to protect retail investors from overtrading, but also to protect brokerages, which had to meet certain cash balance and margin requirements.⁠ ⁠ By having the limit on day trading at $25,000, regulators intended to preserve brokerage balances and protect traders with less money, while allowing investors with more money to day trade if they want.⁠ ⁠ “To me, the two intentions of rule were quite logical,” James Kostulias, head of trading services at Charles Schwab, told MarketWatch. “We want to extend to some of the more sophisticated investors additional intraday buying power, because there’s different risks associated with intraday versus overnight trading. And two, we want to make sure we’re not extending those risks to less sophisticated, less affluent investors who aren’t ready to handle it.”⁠ ⁠ However, Kostulias said, the rule ended up creating confusion among retail traders.⁠ ⁠ Read more at the link in bio.

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Comments: 11
Posted: Jun 3, 2026, 7:15 PM
Caption: Sportsbooks were sweating more than the players when the New York Knicks and San Antonio Spurs booked their tickets to the NBA Finals. That’s because either the Knicks or Spurs winning a title could be a big problem for their businesses.⁠ ⁠ With the Knicks, sportsbooks could lose because of how many people have been betting on them to win the championship all season. The New York team has attracted roughly half of all money wagered on the NBA Finals this season on DraftKings Sportsbook.⁠ ⁠ For the Spurs, it’s a different story. Led by French phenom Victor Wembanyama, they’re more of a Cinderella story; they had little chance of winning the NBA title at the beginning of the year, according to the oddsmakers. This meant that even a small wager on the Spurs promised a huge payout. The Spurs entered the season at +6500 odds to win the title on DraftKings — meaning a winning $100 bet would yield a profit of $6,500 — and would be one of the biggest preseason underdogs to win the title in league history.⁠ ⁠ So if the Knicks win, sportsbooks will lose because bettors have been putting a lot of money on them all season long, creating a liability. And if the Spurs win, sportsbooks will still lose, because the team from south-central Texas were such a longshot at the beginning of the year that the payouts would also create a liability. It’s a lose-lose situation for bookmakers.⁠ ⁠ Multiple sportsbooks told MarketWatch about this unique situation but declined to say how much in losses it could mean. Pressed about which team’s triumph would result in bigger losses, the bookmakers indicated the Spurs could do more damage to their bottom lines.⁠ ⁠ “The sportsbook will be cheering for the Knicks, as San Antonio is the biggest remaining liability on the futures book,” Anthony Parenti, a sports trader for BetMGM, told MarketWatch.⁠ ⁠ “[The] Knicks are a loser for the book as well, but [the] Spurs are bigger,” a BetMGM spokesperson added.⁠ ⁠ In other words, casual and professional bettors will likely be scoring a rare victory over the house.⁠ ⁠ Read more at the link in our bio.

Likes: 85
Comments: 5
Posted: Jun 3, 2026, 1:30 PM
Caption: President Donald Trump on Tuesday signed an executive order on artificial intelligence that aims to set up a framework for AI companies to voluntarily inform the federal government about new models 30 days before their release.⁠ ⁠ About two weeks ago, Trump had been slated to sign an order with a review window of 90 days in an Oval Office ceremony — but he called it off, saying he was worried about hindering U.S. AI companies as they compete against Chinese rivals.⁠ ⁠ The signing on Tuesday didn’t happen in a public ceremony, and the final version of the executive order drew criticism.⁠ ⁠ The order was described as “on the verge of meaningless” by J.B. Branch, counsel for AI governance and technology policy at Public Citizen, a left-leaning advocacy organization.⁠ ⁠ “Models powerful enough to threaten cybersecurity and national security warrant real oversight. Congress and the administration should enact comprehensive federal AI legislation with enforceable safeguards, transparency requirements, independent testing and meaningful protections for workers, consumers, children and civil rights,” Branch said in a statement.⁠ ⁠ Even so, the executive order represents a shift by the Trump administration, which had adopted a hands-off approach toward the booming AI field shortly after Inauguration Day last year. One driver of the shift was Anthropic’s limited April release of Claude Mythos — with that model withheld from the general public because of its ability to autonomously find and exploit software vulnerabilities.⁠ ⁠ Anthropic on Tuesday announced it has extended its release of Mythos to about 150 new organizations, following several weeks of collaboration with the U.S. government and other players.⁠ ⁠ Trump’s order on AI received praise from some analysts, such as Ryan Fedasiuk, a fellow at the American Enterprise Institute, a right-leaning think tank. It features a “common-sense, light-touch framework designed to get the federal government’s gears in motion,” Fedasiuk said in a social-media post on Tuesday.⁠ ⁠ Read more at the link in our bio.

Likes: 127
Comments: 5
Posted: Jun 2, 2026, 8:45 PM
Caption: Wall Street investors use financial derivatives to hedge against shifts in interest rates and exchange rates. Farmers use them to lock in the price of their crops.⁠ ⁠ Now, one New York City bar is using Kalshi, a CFTC-regulated prediction-markets platform, to hedge against another kind of risk: The possibility that the New York Knicks will prevail on Wednesday when they face off against the San Antonio Spurs in Game 1 of the 2026 NBA Finals.⁠ ⁠ If the Knicks win, Andrew Freedman, a Manhattan lawyer and owner of Upper East Side bar The Jeffrey, has promised to cover up to $100 of the bar tab for every patron at his establishment that night — including drinks and food.⁠ ⁠ Freedman told MarketWatch that he had estimated his promotion would cost in the ballpark of $13,000, based on his outlay from a previous one.⁠ ⁠ The idea for the hedge came after a promotion offered by Freedman in May caught the attention of Bloomberg News. During Game 4 of the Eastern Conference Finals between the Knicks and the Cleveland Cavaliers, Freedman promised he would knock 1% off patrons‘ tabs for every point in the Knicks’ margin of victory. The Knicks ended up triumphing 130-93, a victory that sent the team to the NBA finals for the first time in 27 years. The promotion cost Freedman about $4,000, he told MarketWatch.⁠ ⁠ “Kalshi saw the Bloomberg article on our Cavs game promo and reached out and said this was an awesome idea and that next time we should hedge on Kalshi. I looked into it and thought it was a great idea. So we went with it and upped the ante,” Freedman told MarketWatch via email.⁠ ⁠ Freedman said he is considering holding similar promotions for future games in the series.⁠ ⁠ A representative for Kalshi told MarketWatch that the bar’s decision to manage its risk on its platform showed that sports-based event contracts have economic utility beyond simply allowing users to bet on the outcomes.⁠ ⁠ “This is exactly what Kalshi contracts are designed for, right? If you have risk tied to an event happening in the real world, this is what you can use prediction market contracts to help offset it,” the Kalshi representative told MarketWatch.⁠ ⁠ Read more at the link in bio.

Likes: 33
Comments: 2
Posted: Jun 2, 2026, 5:18 PM
Caption: When I first graduated, I moved back in with my parents and sulked around because I was unemployed and without an internship lined up. Looking back, I wish I’d spent that time working. Retail and restaurant jobs wouldn’t have magically launched my career. But they would have put money in my pocket, added experience to my résumé and helped me build skills employers value. Head to the link in our bio to find out why service-industry work deserves a second look from new graduates. — 👀 What was your first job after college?

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