Oil jumped 6% on Thursday after Iran shot down a U.S. military drone, prompting President Donald Trump to blast Tehran on Twitter.Energy Commoditiesread more
For doubters thinking the rally is just a last gasp of the decade-long bull market, chart analysts are here to prove them wrong.Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
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Apple said in a letter released Thursday that tariffs could hurt its ability to compete globally.Technologyread more
Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
Trump tweets after an Iranian surface-to-air missile shot down a U.S. military surveillance drone in what the U.S. calls an "unprovoked attack."Politicsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
Mortgage rates have been falling steadily since the last week of April, and that may be reigniting home price appreciation. The lower the rate, the more purchasing power...Real Estateread more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Wednesday night's Powerball jackpot is now $430 million, after Saturday's drawing failed to yield a winner for the top prize.
The weekend Powerball drawing was a would-be millionaire's second opportunity to win a jackpot of more than $350 million in two days. Friday's Mega Millions drawing resulted in one lucky winner in Illinois taking home the $393 million jackpot — the fifth largest in the game's history and the second largest awarded to a single ticket.
The next Powerball drawing is at 10:59 p.m. ET on Wednesday. If the prize amount doesn't go up before then, the $430 million Powerball jackpot would be the ninth largest in the game's history, and the 12th largest in U.S. lottery history.
(The most recent big Powerball win was a $447.8 million jackpot awarded earlier this summer to a single winner in California. That prize was the game's seventh largest, and the 10th largest in U.S. lottery history.)
Of course, the odds of winning are slim (see graphic below), and if you are lucky enough to pick the winning combo, you won't walk away with the full amount.
Lottery site USAMega.com estimates the federal tax withholding on the $273.4 million lump sum would be roughly $68.3 million, and state taxes could knock out up to another $24.1 million (with New York the costliest). Those figures are just the amounts withheld up front; your final tax burden is likely to be even higher.