there are a few things that drive gold and crypto prices higher. the first one is the quality and the second is the us dollar. let s talk about liquidity. easing from china and also from the us, the fed has actually been injecting liquid italy, overnight repo facility. so also from a seasonality perspective, november december actually quite favourable in terms of financial conditions, and indeed the rally, or the fall of interest rates have helped also financial conditions to ease in the past few weeks and hence we ve seen a surge in liquidity in the system and that propels both gold and crypto currencies higher. the next reason is for the us dollar. both gold and crypto currencies is dominated by us dollars. when the dollar becomes weaker that is a tailwind for the causes. given that the market is now pricing in an increasingly probability of cuts are starting as early as april next year, the us dollar has been weakening versus both other currencies including gold and crypto
always get news on the go just download apps on google play it all from the app store that ll give you access to all the latest deals were on the world as well as push notifications for any breaking news you can also use the app to send us photos and videos. they re watching the news coming to you live from but end up making business news with get hot and fed stay with us.
new reports including from social media this past week that tax returns appear to be smaller. it s just one of the headlines making business news. the others includes this surprising number here. more than seven million americans are behind on their car loan payments. inequality is reaching levels we haven t seen since just before the great depression. and fallout from amazon walking away from its deal with new york city. ron insana joining me. the average tax return is down about 8.7% this year compared to last year. what s going on? a couple of things. one, there may have been underwithholding by u.s. corporations that hadn t figured out the details of a complex change in the tax code. two, if you have a limited liability company, a so-called pass-through entity, you have fewer deductions, as does every other american who no longer can
other than data gathering for an upcoming show. the statement also admits that the question was clearly ill advised. here s what the statement says. it says, quote, dr. phil believes those incapacitated in any fashion, be it drugs, alcohol, age or mental illness, cannot and do not have the capacity to give their consent to anything, especially sex. this statement also goes on to say dr. phil mcgraw himself is very upset this happened and, brooke, that he deleted the post the second he saw it. i m not sure if anyone thought dr. phil himself posted the question in the first place. but it is his twitter page. there was also this position on change.org that was attacking the show for the tweet. it has more than 1,000 signatures right now. as you can imagine and like you said, it definitely touched a nerve. definitely did. something else that touched a nerve. remember this from dr. sanjay gupta not long ago, making business news, changing his stance on medical marijuana. well, moments a
almost. now, bank of america shares for their part rose by 4% putting on a strong performance after the ceo brian moynahan cheered investors saying the company is focusing on rewarding shareholders. he also promised to hand out billions of dollars in dividends over the next few years to come. it was a different story, mind you, for mcdonald s. sales fell by 1% after the company reported a disappointing set of february u.s. sales. and staying with the united states, let s take a look at what s making business news there at the moment. one of the biggest names in the insurance industry has paid back more of the funds it received under the u.s. troubled asset relief program otherwise known as the t.a.r.p. american international group, otherwise known as aig itself repaid the u.s. treasury another $6.9 billion of its bailout on tuesday. aig received about $125 billion in a will return