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DAILY UPDATE: 2025 IRS Tax Brackets as Stock Markets Barely Budge

October 23, 2024 12:02 AM

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and cost-of-living adjustments. These are the official numbers for the tax year 2025—that tax year begins January 1, 2025. These are not the numbers that you’ll use to prepare your 2024 tax returns in 2025 (you’ll find those official 2024 tax numbers here). These are the numbers that you’ll use to prepare your 2025 tax returns in 2026.

CITE: https://www.r2library.com/Resource

STOCKS UP

• Philip Morris International was smoking hot today, rising 10.47% to a record high thanks to strong demand for its Zyn nicotine pouches.
• Americans just love a pickup truck: General Motors revved 9.85% higher on an impressive beat-and-raise earnings report.
• Trump Media & Technology Group rose 9.87% to its highest level since July as the “Trump trade” wagering on the former president to regain the White House picks up steam.
• Quest Diagnostics isn’t just a sad, windowless building where you get your blood drawn—it’s also been a pretty profitable investment. Shares rose 6.88% on strong earnings and revenue growth.

STOCKS DOWN

• Stop us if you’ve heard this one before: Target is cutting the price of 2,000 products ahead of the holiday season. Shares sank 1.13% as shareholders digest what appears to be a desperate move to boost sales.
• Verizon Communications dropped 5.03% after missing on both revenue and earnings estimates. But the real problem was slowing customer growth and phone sales.
• Defense contractors were in the earnings spotlight today, and none of them did well. GE Aerospace tumbled 9.07% despite beating analyst forecasts and Lockheed Martin fell 6.12% after sales missed estimates.
• Genuine Parts, better known as NAPA Auto Parts, plummeted 20.96% after earnings missed estimates and the company announced lower fiscal year forecasts.

CITE: https://tinyurl.com/2h47urt5

Here’s where the major benchmarks ended:

• The SPX fell 2.78 points (–0.05%) to 5,851.20; the Dow Jones Industrial Average^® ($DJI) lost 6.71 points (–0.02%) to 42,924.89; and the $COMP gained 33.12 points (0.18%) to 18,573.13.
• The 10-year Treasury note yield (TNX) added two basis points to 4.2%.
• The CBOE Volatility Index^® (VIX) fell to 18.15, down from above 20 a week ago.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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Posted by Dr. David Edward Marcinko MBA MEd CMP™

Categories: Accounting, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Taxation

Tags: 2025, business, DJIA, DOW, i-r-s, IRS, Marcinko, NASA, NASDAQ, personal-finance, S&P 500, SPX, stock market, tax brackets, tax rates, textbooks, TNX, VIX, WSJ

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