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Shares in CoreWeave (CRWV), a cloud computing company backed by Nvidia (NVDA), ended their market debut flat following a $1.5 billion initial public offering that priced below its expected range.

Shares of CoreWeave opened at $39 Friday. It ended the day at $40, its IPO price, trading as high as almost $42 and as low as around $37.50.

The company’s IPO pricing lagged the expected range of $47 to $55 per share. CoreWeave, which makes money by providing its clients with access to data centers, had also cut the deal’s size, selling 37.5 million shares, fewer than the 49 million previously anticipated. 

Data centers are used to develop artificial intelligence models. The company, which relies on Microsoft (MSFT) for a large portion of its sales, also depends on Nvidia chips for its business.

The IPO was the largest by a tech firm in the U.S. since the $5.2 billion offering by chip designer Arm Holdings (ARM)  in September 2023, according to Dealogic, and the largest in the U.S. since the $1.75 billion listing by LNG exporter Venture Global in January. 

CoreWeave was founded in 2017 as a crypto miner before pivoting to selling cloud infrastructure. 

This article has been updated since it was first published to reflect fresh trading data.

The economy’s trajectory largely depends on how President Donald Trump’s tariff-raising spree turns out, according to Federal Reserve officials who made public remarks this week. 

In various public appearances, a half-dozen Federal Reserve policymakers said they were keeping a close eye on Trump’s trade policies. Several predicted the president’s tariffs would stoke inflation, slow down the economy, or both. That would complicate the Fed’s job, a dual mandate to keep both of those forces at bay using monetary policy.

Fed officials have joined many other economists in predicting that Trump’s tariffs, intended to protect American businesses from foreign competition, would push up the cost of living and hammer household budgets. Trump announced a 25% tariff on imported cars this week and is planning another round of tariffs against numerous foreign countries on April 2.

“It looks inevitable that tariffs are going to increase inflation in the near term,” Susan Collins, president of the Federal Reserve Bank of Boston, said Thursday at a fireside chat. “My kind of modal outlook would be that that could be short-lived with a continuation of some disinflation, but further in the future than I might have expected before. But there are risks around that, and depending on how things unfold, it may be more persistent and a larger increase.”

What Will the Fed Do With the Uncertainty?

The Fed typically has one major way to combat inflation: keeping its benchmark interest rate, the federal funds rate, high in order to push up rates on all kinds of loans and slow down economic activity.

Yet, financial markets are projecting the Fed will cut its benchmark interest rate three times this year to combat the lingering remnants of the post-pandemic surge of inflation. That’s according to the CME Group’s FedWatch Tool, which forecasts rate movements based on fed funds futures trading data.

Forecasters are betting the Fed will be forced to cut rates later this year because of its other major mandate, which is to prevent a severe rise in unemployment. A slowdown in consumer spending could hurt the job market, a risk that Minneapolis Fed President Neel Kashkari alluded to when speaking at an event in Detroit Wednesday. He commented on the plummeting levels of consumer confidence shown by recent surveys.

“It’s conceivable that the hit to confidence could be a bigger effect than the tariffs themselves,” he said.

Raphael Bostic, president of the Atlanta Fed, said he was keeping an eye on both risks in an interview on Bloomberg TV Monday. He said he expects inflation to remain stubborn this year and forecasts the Fed would only cut interest rates once. More tariffs from Trump could push him toward delaying rate cuts more, while a decline in consumer confidence or a rise in unemployment could bring about rate cuts sooner, he said.

Fed Governor Adriana Kugler, speaking to the Hispanic Chamber of Commerce in Washington on Tuesday, noted that Trump’s trade policies were raising consumers’ inflation expectations.

“I am paying close attention to the acceleration of price increases and higher inflation expectations, especially given the recent bout of inflation in the past few years,” she said in prepared remarks.

Will Tariff-Related Inflation Be Temporary?

In theory, a tariff could be a one-time increase in prices and not necessarily increase inflation, which is, by definition, sustained price increases over time. In that case, the Fed could be safe ignoring it.

However, a jump in prices could affect individuals and businesses psychologically, and lead them to make decisions that push up inflation in the long term. Alberto Musalem, president of the St. Louis Fed, said he was concerned about that, speaking at a monetary policy event in Kentucky.

“I would be wary of assuming that the impact of tariff increases on inflation will be entirely temporary or that a full ‘look-through’ strategy will necessarily be appropriate,” he said, according to prepared remarks.  

The multitude of uncertainties and risks makes predicting what the economy will do nearly impossible, Tom Barkin, president of the Federal Reserve Bank of Richmond, said in a speech Thursday at Washington and Lee University. He compared the task of setting monetary policy under the current conditions to driving a car through the fog.

“With all this change, a dense fog has fallen,” he said, according to prepared remarks. “It’s not an everyday, ‘forecasting is hard’ type of fog. It’s a ‘zero visibility, pull over and turn on your hazards’ type of fog.”

Barkin said the Fed was unlikely to change interest rates until the fog began to lift.

Major U.S. equities indexes tumbled after Friday’s inflation report came in hot, and consumer sentiment weakened significantly.

The S&P 500 lost 2.0% in the week’s final trading session. The Dow closed 1.7% lower, while the Nasdaq plunged 2.7%. All three key market gauges ended the full week in negative territory as the sign of persistent inflation and consumer pessimism exacerbated concerns about escalating tariffs and the trajectory of the economy.

Lululemon Athletica (LULU) shares suffered the heaviest losses of any S&P 500 stock, plummeting 14.2% after the maker of yoga pants and other workout attire released its quarterly results. Although Lululemon topped sales and profit estimates for its fiscal fourth quarter, the apparel company issued lower-than-expected guidance for the current quarter and full year. Executives cited a downturn in traffic as customers limit spending in the uncertain economic environment. JPMorgan analysts cut their price target on the stock, noting that tariffs and currency exchange effects could weigh on profit margins.

Warner Bros. Discovery (WBD) shares sank 5.8% following a report in The New York Times about CEO David Zaslav’s struggles to revitalize the entertainment giant’s film studio, noting that ticket sales for its movies remain 40% below 2019 levels. The entertainment giant also announced a reorganization of its streaming content acquisition teams as it aims to align its strategy for its two streaming services, Max and Discovery+, across regions.

Shares of Dollar Tree (DLTR) slipped 5.5%, giving back a portion of the strong gains posted since the discount retailer announced earlier this week that it would sell its Family Dollar brand for $1 billion. Although analysts indicated that Dollar Tree is in a good position to attract value-conscious consumers and could see an earnings boost following its separation from Family Dollar, they pointed to potential tariff-related headwinds.

W.R. Berkley (WRB) shares surged 7.5%, notching the top performance in the S&P 500 and reaching a record high after the insurance firm announced that Japan’s Mitsui Sumitomo Insurance (MSI) would acquire a 15% stake in the company. According to a statement, MSI will purchase shares on the open market and from other third parties as it accumulates its position. The news release indicated that the agreement will not affect the firm’s day-to-day operations.

Shares of Welltower (WELL), a real estate investment trust (REIT) focused on medical facilities and other health care infrastructure, added 2.3% after credit rating agency S&P Global upgraded its issuer rating. Welltower has improved its balance sheet and is expected to see additional improvement in its credit metrics over the next two years.

American Water Works (AWK), the largest regulated water and wastewater utility in the U.S., announced a plan to invest around $40 billion in its national infrastructure over the coming decade. Shares of the company advanced 2.2% on Friday.

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There was bone marrow. There was duck confit. Now beef tallow is the cooking medium of the moment. 

Tallow—basically, beef fat cooked down to solid form—is coming up in food conversations across the country these days. It was a hot topic at a restaurant convention in New York City earlier this week, and Health and Human Services Secretary Robert F. Kennedy Jr. recently scarfed down fries cooked in the fat at a Steak ‘n Shake in Florida.

Fans laud its flavor and tout health benefits, arguing for its superiority to seed oils like canola and vegetable oil. The ingredient is showing up on a growing number of restaurant menus, in packages of chips and frozen fries, and even in beauty products. 

“I hear about it all the time,” said Brian Goodman, who sells meats to restaurants for New Jersey-based distributor Marx Foodservice, which specializes in antibiotic-free, pasture-raised beef from New Zealand. “I have four people looking for it as we speak.”

Americans’ moves toward tallow may be a matter of palate preferences, ideological leanings—Kennedy, a Trump appointee, has boosted the slogan “Make America Healthy Again”—or efforts to eat healthier. 

Diners’ motivations aside, it seems to be catching on in restaurants. Mentions on menus rose more than 40% from late 2023 to late 2024, according to Technomic, a food service insights firm. Steak ‘n Shake said this spring that it was moving away from seed oils and cooking fries, onion rings and chicken tenders in tallow instead.

Kennedy said a number of restaurants, including Popeyes, Outback Steakhouse and Buffalo Wild Wings, have or are in the process of transitioning away from seed oil while dining at Steak ‘n Shake on Fox News. (All three restaurants say in allergen guides that beef tallow or shortening may be used to prepare some dishes.)

“We want to do everything that we can to incentivize these companies to be transparent, to switch over from ultraprocessed food,” Kennedy said on Fox News earlier this month in Florida.

It’s far from a staple. The portion of tallow produced for human consumption each year has grown from about 16% to 17% over the past decade, according to the North American Renderers Association, a trade group. Datassential, a food service insights firm, expects the ingredient to land on 8% of menus in the next four years, though it’s currently on less than 1%.

Both tallow and seed oils are processed foods, according to nutritionists. Research shows that animal fats have more saturated fatty acids–which are known to increase cholesterol and the risk of developing heart disease, according to Sander Kersten, director of Cornell University’s Division of Nutritional Sciences–than seed oils.

Tallow’s adherents see it as less processed than seed oils, and say it contains fat-soluble vitamins and nutrients, such as choline and conjugated linoleic acid, that curb hunger and improve metabolism. 

NARA members have noticed an uptick in demand for cooking-grade tallow. Food distributors say they’re trying to accommodate growing demand. 

Maximum Quality Foods, a New Jersey-based distributor, is searching for a way to provide the product for halal kitchens, owner Gary Roccaro said. Goodman said Marx Foodservice wants to start a tallow line. The current craze reminds him of a period roughly 15 years ago when duck fat became trendy. (Animal fats can have higher smoke points than seed oils, which helps prevent burning, and impart a distinct taste, he said.)

Beef tallow can be less expensive than duck fat, Goodman said. Still, the product can get pricey, with shops offering tallow made from grass-fed, organic cattle for as much as $30 per pound on Etsy.  A five-ounce pack of tallow-fried chips can sell from about $6.50 to as much as $15 online.

 “Everybody was taking duck fat and cooking potatoes in it,” Goodman said. “With beef tallow it’s the same thing. But duck fat is now $44 for three pounds—and tallow is half the price.”

Restaurant vendors also report more questions about tallow. Customers used to ask whether Frylow, a ceramic device placed in deep fryers to extend oil life, works with beef tallow once every couple of years, CEO Bradley Mart said at a trade show this week. (It does, he said.) That changed about six months ago.

“Here at the show, we’re getting it twice a day, three times a day,” Mart said at the Javits Center in Manhattan.

Half of Redfin’s 10 “hottest” neighborhoods so far this year are in the Midwest, with several coastal areas also making the list, according to a report earlier this week.

The real estate brokerage said it looked at year-over-year views of listings on its website in 150 of the most populous metro areas through the end of February to compile its ranking of “hot” neighborhood ZIP codes, along with several other factors including median sale prices.

Prospect Heights and Clinton Hill in Brooklyn, N.Y., where home sales doubled from the year prior, topped Redfin’s list. Two other New York neighborhoods also made the list, with upstate village Fairport in fourth place, and Great Kills in New York City placing sixth. Both saw median listing views more than double from the same period last year.

Jenison, Mich. and the ZIP code that is home to Campton Hills and St. Charles, Ill. came in second and third on the list, respectively. Jenison boasted almost 140% growth in median listing views from last year, while the Illinois neighborhoods outside of Chicago experienced an almost 40% increase in home sales. Redfin said suburbs in the Midwest have seen a surge in popularity as homebuyers look for affordability and an easy commute to major metros.

Three other Midwest neighborhoods—Milwaukee suburb Franklin, Wis.; Prairie Village and Mission Hills, Kan.; and Twin Cities suburb Lakeville, Minn.—took the seventh, eighth, and ninth spots, respectively. Redfin noted there aren’t enough homes for sale to keep up with demand in many of these Midwestern markets, making them highly competitive.

Other top neighborhoods so far this year include Polk Gulch and Russian Hill, Calif., located in the heart of San Francisco, where homes have a median sale price of $1,065,000, up 10% year-over-year.

Bowie, Md. outside of Washington, D.C. rounded out the top ZIP codes with a more than 30% increase in home sales over last year.

Car prices are expected to rise under the latest tariff policy—and not just for new ones.

Higher production costs driven by Trump administration trade moves will likely push up new vehicle prices, analysts said. That could send more shoppers looking for used cars and trucks, pushing up prices for secondhand vehicles in a market where drivers are already hanging onto their wheels for longer.

The latest tariffs—President Donald Trump announced Wednesday that his administration plans to impose a 25% tariff on cars assembled abroad beginning next week—stand to hit a market that has already seen prices move higher in recent years. Average monthly payments are up 26% for new cars and 30% for used cars over the past five years.

“Some consumers get priced out of new vehicles, and they have to trade down to used vehicles—and that puts more pressure on the value of used vehicles,” said Jeremy Robb, senior director of economic and industry insights at Cox Automotive.

The precise shape and effect of Trump tariffs is yet to be seen. Engines, transmissions, electrical components and other parts are expected to be subject to the 25% import tax soon. Parts coming from Canada and Mexico may not be subject to tariffs until a system is in place to assess what portion of the item was sourced in the U.S., according to J.P. Morgan.

Manufacturers are expected to charge more as the cost to produce each vehicle rises at least $3,000, according to Cox. Dealers may be less inclined to keep prices down if supply plummets, as may happen when tariffs are imposed in an industry where models may cross the border six or more times during assembly, Cox said.

Asked on Friday whether Americans should buy cars to avoid tariffs, Trump said “No, I don’t think so.”

The tariffs could cost the auto industry $82 billion annually, according to J.P. Morgan’s estimates. If this is offloaded entirely on consumers, car prices may rise an average of more than 11%, the analysts said. Imported cars may cost $5,000 to $15,000 more, while domestic models may sell for $3,000 to $8,000 more if the higher costs are completely shouldered by consumers, according to Goldman Sachs.

 “Under the new scheme, virtually all automakers will face significant pressure to raise prices, making it more likely domestic automakers will be able to effect price increases to better offset tariff costs without the risk of material market share loss,” JP Morgan analysts wrote Thursday.

Tariffs are likely to be “fairly inflationary” for used vehicles, according to Robb, at Cox. Wholesale values were already expected to grow, and prices could climb further as people migrate to the used market, he said. Demand may slow if the tariffs trigger a slowdown, but only so much, Robb said.

Morgan Stanley analysts said earlier this month that passing on costs without slowing sales may be “challenging,” given that car payments are already near record highs. Fresh data showed signs that consumers are falling behind on auto-loan payments.

Manufacturers aren’t expected to bring much assembly back to the U.S. because, in many cases, domestic production is more expensive than importing items, analysts have said. Once nations retaliate with tariffs and the industry adjusts, car and auto prices are expected to rise about 6%, according to estimates the Budget Lab at Yale compiled early this month.

“We expect disruption to virtually all North American vehicle production,” Jonathan Smoke, chief economist at Cox, said during a webinar held hours before details about the new tariff policy were announced. “Over the longer term, we expect sales to fall, new and used prices to increase and some models to be eliminated.” 

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The 2025 Winners for Bank Customer Satisfaction

J.D. Power released its annual U.S. Retail Banking Satisfaction Survey this week, and 14 banks took the crown across 15 U.S. regions. The banks were scored across these seven dimensions, in order of importance: trust, people, account offerings, allowing customers to bank how and when they want, saving time and money, digital channels, and resolving problems or complaints.

• BancFirst: Lower Midwest Region
• Bangor Savings Bank: New England Region
• Banner Bank: Northwest Region
• Capital One: Mid-Atlantic and South Central Regions
• Centier Bank: North Central Region
• Chase: California and Pennsylvania regions
• Fifth Third Bank: Florida Region (tie)
• FirstBank: Southwest Region
• Front: Texas Region
• Gate City Bank: Upper Midwest Region
• Liberty Bank: New York Tri-State Region
• TD Bank: Florida Region (tie)
• United Community Bank: Southeast Region
• Wintrust Community Bank: Illinois Region

Being a customer favorite, however, doesn’t necessarily mean a bank is paying high deposit rates. Right now, the best-paying CDs in the country are offering 4.32% to 5.00% APY. And you can earn up to 4.60% with the top high-yield savings accounts.

To find out how these customer favorites compare, we looked up the rate sheets for each of them. Their rates for savings accounts and three common CD terms are laid out in the table below, along with the top nationwide rate in each category. At the top, you’ll find links to the top rates available for that account type.

President Donald Trump has imposed tariffs on U.S. trading partners and promised that many more will be implemented. A number of new tariffs are due to go into effect on April 2, which the president refers to as “Liberation Day.”

The tariffs, a cornerstone of Trump’s economic plan, have ever-changing parameters and deadlines. Some tariffs have been used as bargaining chips with other countries, while others are designed to bring manufacturing and jobs back to the U.S. They are also a way the president plans to offset some of the government’s spending.

However, Trump’s on-again, off-again approach to tariff policy has created uncertainty in the economy. Businesses and consumers alike worry that inflation will rise and that the economy could be headed toward a recession, and that uncertainty has weighed on investor sentiment, sending stocks sharply lower in recent months.

Investopedia has worked to gather all of Trump’s tariff proposals. Only those with some level of detail (either the proposed rate or the date it is to be enacted) and documentation are included. This page will be updated regularly as parameters change or more information becomes available.

Tariffs on Countries

Elon Musk’s latest move might sound a bit like a math problem.

In a Friday afternoon message on his social media network X, the Tesla (TSLA) CEO said his artificial intelligence company, xAI, had acquired X in an all-stock transaction. The deal values the companies at $80 billion and $33 billion respectively, the latter number which he said reflects a $45 billion value for X and $12 billion of debt. 

Those figures are in line with a recent Bloomberg report of about $1 billion in fundraising at X. Musk’s 2022 acquisition of Twitter, which he renamed X, valued the company at $44 billion. 

“xAI and X’s futures are intertwined,” Musk wrote Friday. “Today, we officially take the step to combine the data, models, compute, distribution and talent. This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”

Musk’s stated valuation for X, which he said has more than 600 million active users, compares with Visible Alpha’s estimates of about $20 billion for Reddit (RDDT) and more than $15 billion for Snap (SNAP). Tech giant Meta Platforms’ (META) estimated market cap is above $1.5 trillion. 

Musk’s other companies include SpaceX, Neuralink and The Boring Company.