2 "Magnificent Seven" Stocks Billionaires Are Buying
  • May 22, 2025

2 "Magnificent Seven" Stocks Billionaires Are Buying

Billionaire fund managers Stephen Mandel and Chase Coleman were buying more shares of two leading cloud service providers last quarter. Microsoft and Amazon both reported strong first quarters, driven by growing demand for AI. The "Magnificent Seven" includes some of the most profitable and dominant tech companies in the world.

US filings for jobless aid, a proxy for layoffs, inch down modestly last week as uncertainty lingers
  • May 22, 2025

US filings for jobless aid, a proxy for layoffs, inch down modestly last week as uncertainty lingers

The number of Americans filing unemployment claims last week fell slightly as businesses continue to retain employees despite growing economic uncertainty over U.S. trade policy. Applications for jobless benefits fell by 2,000 to 227,000 for the week ending May 17, the Labor Department said Thursday. Weekly applications for jobless benefits are seen as representative of U.S. layoffs and have mostly bounced around a historically healthy range between 200,000 and 250,000 since COVID-19 ravaged the economy and wiped out millions of jobs five years ago.