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Cultura Rm Exclusive/twinpix | Image source | Getty ImagesHome equity is nearing record levels, but high interest rates mean it could be hard to tap into that wealth, financial advisers say.Total home equity for U.S. mortgage holders is expected to exceed $17 trillion in the first quarter of 2024, just shy of the record set in the third quarter of 2023, according to the latest data from CoreLogic.Average equity per borrower rose by $28,000 from a year ago to a total of about $305,000, according to CoreLogic. That’s up about 70% from the $182,000 before the pandemic, said chief economist…

A look at companies garnering attention in midday trading: Southwest Airlines — Shares rose 7% after activist hedge fund Elliott Management acquired a $1.9 billion stake in Southwest Airlines. The airline is searching for a replacement for Southwest CEO Bob Jordan and Chairman Gary Kelly. GameStop — After a rollercoaster week, the meme stock fell nearly 12% in volatile trading. GameStop’s sharp decline on Friday was fueled by investors reacting to a big drop in first-quarter sales and the company’s earlier announcement that it would sell more stock. Meme stock leader Keith Gill hosted his first livestream in years Friday…

Reddit user Keith Gill, who is credited with driving GameStop’s stock price up, broadcasts a YouTube livestream from his laptop at the New York Stock Exchange on June 7, 2024.Michael Nagel | Bloomberg | Getty ImagesGameStop The company’s shares fell about 12% on Monday as the meme stock faced further selling pressure on Friday sparked by poor earnings and a lackluster Roaring Kitty livestream.The video game company’s shares fell to about $25 per share on Monday after dropping nearly 40% on Friday alone. GameStop released its earnings report several days ahead of schedule, reporting a 29% drop in first-quarter sales.…

Dive Overview: Citi CEO Jane Fraser Welcomed ex Senior Partner at PwC Tim Ryan For bank technology leadership teams LinkedIn Post Last week, Ryan was in the City Head of Technology and Business To enablet this month. Ryan will lead Citi’s technology and legacy franchise efforts, working with the bank’s transformation and operations teams to help drive continued modernization and process simplification. According to the company:. In his new role, Ryan will also be working on the adoption of emerging technologies, including “ensuring that our business is fully enabled by AI and leveraging technology to be as efficient and productive…

Investment bank Moelis has placed one of its managing directors, Jonathan Kaye, on administrative leave after social media users identified the banker as the man caught on video punching a woman to the ground, Bloomberg reported on Monday. The roughly 10-second video does not show what happened before the punch that was allegedly delivered during Pride celebrations in Brooklyn on Saturday. The video shows a man, identified by X as Kay – an M&A banker who heads Moelis’ business services franchise – leaving the scene of the incident while bystanders call him an “idiot” and a “horrible person” and tell…

Pressure is mounting for Apple to show off the potential of AI at its annual Worldwide Developers Conference (WWDC) on Monday. “Investor expectations are high, but we believe Apple can deliver a positive surprise and unlock latent demand, accelerating the iPhone replacement cycle and sustaining the recent strength of its stock price,” Morgan Stanley’s Eric Woodring wrote in a recent client note. Apple’s shares have underperformed major technology companies so far this year, rising just 1.5%. The company has also come under fire for lacking a direct artificial intelligence strategy, while investors have given credit to companies like Nvidia and…

Non-banking lender Ahsan Finance has raised Rs 500 crore in equity funding from Incofin India Progress Fund and the Michael and Susan Dell Foundation to fund growth, the company said on Monday.The Dell Foundation is a returning investor in the company, and the new capital infusion will help fuel its business expansion and technological advancements, the company said.”This funding is crucial for the next phase of our growth. We are focused on strengthening our technology capabilities and expanding our reach to serve more MSMEs in underserved regions,” said Kunal Mehta, Founder and Managing Director, Ahsan Finance.The company plans to expand…

A look at companies garnering attention in premarket trading: KKR, CrowdStrike, GoDaddy — KKR shares rose more than 8%, while CrowdStrike and GoDaddy rose 6% and 3%, respectively. All three will join the S&P 500 on June 24 as part of the quarterly index rebalancing. S&P Dow Jones Indices announced on Friday that three stocks would be dropped from the index: Robert Half, Comerica and Illumina. All of those stocks fell in premarket trading. Dell Technologies and Palantir Technologies shares fell 1% and 3%, respectively, on disappointment that the two were not added to the index. AMD — The chipmaker’s…

Bitcoin was mostly unchanged over the weekend after Friday’s $400 million liquidation crash. BTC dropped from over $71,000 to below $69,000 as a stronger-than-expected U.S. nonfarm payrolls number caused open balances and trading volumes to fall. Since Friday, the number of open futures contracts for various tokens has fallen from $99 billion to $60 billion, suggesting traders have significantly reduced their bets. However, analysts at Presto Research told CoinDesk they expect market volatility to return in the coming week due to macroeconomic catalysts such as Wednesday’s CPI release. BTC traded around $69,450 in early European hours. The CoinDesk 20 Index…

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