Morning Business Report: Tax Season Opens, TikTok’s Future Uncertain, and Stock Market Rally Pauses
Early filers can get refunds in three weeks, Trump eyes TikTok’s future, and stocks rally despite pause
(LILAMAX MEDIA)- Tax season is officially open, marking the first day to file returns for 2024. While the deadline isn’t until April 15, early filers could see refunds in as little as three weeks. Experts recommend getting a head start to ensure faster processing and quicker refunds.
In other news, former President Trump is expected to make a decision on TikTok’s future within 30 days. According to Reuters, Trump is in discussions with several entities, including Oracle, about purchasing the app. Reports suggest ByteDance, TikTok’s parent company, would retain a stake in the platform.
On Wall Street, the stock market rally paused on Friday. Despite this, all three major stock indexes posted positive gains for the week, reflecting ongoing optimism in the markets.
From increasing HOA fees due to rising insurance premiums to record cargo theft losses in 2024, economic and financial challenges continue to dominate the headlines. Criminal enterprises have grown more sophisticated, pushing cargo theft losses in the U.S. and Canada to an estimated $454 million. Meanwhile, extreme weather and aging buildings are causing insurers to exit the HOA market or drastically raise premiums, resulting in higher monthly dues for residents.
