Walmart Achieves $1 Trillion Market Value as Credit Card Rates and Gold Prices Fluctuate
Walmart became the first traditional retailer to reach a $1 trillion market valuation, propelled by its e-commerce growth and appeal to price-conscious shoppers, according to BBC Business. This milestone places Walmart among a small group of companies, primarily tech firms like Nvidia and Alphabet, with valuations exceeding $1 trillion. The company's share price rose by more than 3% on Tuesday, reflecting Wall Street's positive response to its investments in artificial intelligence (AI).
Meanwhile, credit card interest rates are hovering near record highs, with the average rate on a commercial credit card nearing 21%, according to Federal Reserve data, as reported by CBS News. This rate is nearly double what it was 10 years ago. "Today's credit card rates are near historic highs," said Michael Desimone, chief lending officer at Citadel Credit Union. "While rates have been rising for years, the current environment reflects a prolonged period of elevated borrowing costs that consumers haven't experienced in decades." Experts attribute these high rates to various factors, with compounding interest exacerbating the issue.
In other economic news, gold prices experienced wild fluctuations, rebounding above $5,000 an ounce after the U.S. downed an Iranian drone, according to BBC Business. The precious metal, often considered a "safe haven" for investors during uncertain times, saw its price jump to $5,061 per ounce. This surge followed days of sharp falls and left the price of gold approximately $80 higher than the same time last year. Rapid changes in U.S. trade policy, ongoing geopolitical uncertainty, conflict, and central banks increasing their bullion purchases have contributed to the volatility in gold prices.
Beyond the economic sphere, life expectancy in the U.S. reached an all-time high of 79 years in 2024, according to CDC data, as reported by Fox News. Further improvements are expected in 2025. The increase is attributed to a decline in deaths from COVID, unintentional injuries like drug overdoses, heart disease, and cancer. Some researchers speculate about the possibility of humans living to be 150 years old.
In political analysis, a new theory gaining traction suggests that President Trump's approach to global economic policymaking resembles that of 16th-century royal families, such as the Tudors and Hapsburgs, according to the NY Times. This "neoroyalist" perspective posits that personal, family, and business ties, rather than national interest or long-term growth, drive global economic policy decisions.
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