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Goldman economist, uncowed by Trump attack, plans to 'keep doing' as before
(Reuters) -A top economist for Goldman Sachs on Wednesday signaled no plans to change how his team conducts and publishes its research after President Donald Trump lashed out at the Wall Street firm and its chief executive because of the research team's estimate that American consumers would bear the brunt of the costs of Trump's tariffs. Chief U.S. Economist David Mericle's defense of his team's work came a day after Trump in a social media post said Goldman Chief Executive David Solomon should "not bother running a major financial institution" and lambasted the bank's economics research. The report Trump attacked, published August 10, estimated that U.S. consumers so far have borne less than a quarter of the cost of Trump's tariffs but that share would rise to two-thirds if the tariffs play out in the same way they had previously. Trump, by contrast, insists that foreign companies and governments are absorbing the cost of tariffs that now average the highest in about a century, and that American households are unscathed. He attacked Goldman and its economists for making "a bad prediction." Asked in a CNBC interview whether Trump's broadside had had a chilling effect on his team's work, Mericle said: "We're just trying to do the best economic forecast that we can for our clients, and we publish research reports like the one that we published over the weekend to inform those views. And we'll keep doing that."
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Bearing gifts: Does giving an allowance teach children about money?
Thanks to inflation, largely gone are the days where kids could wander down to the penny candy store to buy themselves a cheap treat. So, how much money should you now give your children in an allowance? A Wells Fargo study released July 2 found that 71% of parents with children ages 5-17 give them an average weekly allowance of $37. The study also looked at how allowances are distributed and how parents feel about teaching their kids about money. The study was conducted online between April 28 and May 8, 2025, with data collection provided by Ipsos. It surveyed 1,587 U.S. parents aged 18 and older with at least one child between 5 and 17 years of age in the household. The study has a 'credibility interval' of +/- 3%. How do parents give an allowance? The study found that 73% of parents who provide a weekly allowance use cash. Another 24% of parents use a peer-to-peer payment method, such as Zelle or Apple Pay. Others use direct deposit to a bank account or pre-paid debit cards. 'The most surprising result of this study is how much cash is being used, even as parents understand their children prefer digital payment options,' Louann Millar, leader of youth and student banking at Wells Fargo, said in a press release. 'Children today have different financial experiences than their parents did.' Does giving an allowance teach children about money? The survey found that 51% of parents struggle to teach their children about money, with 32% feeling "uncomfortable" talking with their kids about money. Overall, 85% of parents believe that giving their kids an allowance helps them learn about spending, but 65% find it difficult to step back and let kids make their own money mistakes, according to the survey. Millar said that an allowance can be a useful tool to teach children about needs versus wants, money habits and prioritization. 'An allowance is a vehicle that enables children to learn about money with guardrails,' Millar said. "Whether you're giving your child $5 or $35 a week, the payment opens the door to a financial conversation. " This article originally appeared on The Providence Journal: How much allowance should I give my kid? Study shows the average Solve the daily Crossword
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CF Industries Stock Outlook: Is Wall Street Bullish or Bearish?
With a market cap of $13.4 billion, CF Industries Holdings, Inc. (CF) is a leading global manufacturer and distributor of hydrogen and nitrogen products. Serving agriculture, energy, and industrial markets, the company produces ammonia, granular urea, UAN, and other nitrogen-based solutions from major facilities in the U.S., Canada, and abroad. Shares of CF Industries have underperformed the broader market over the past 52 weeks. CF stock has risen 4.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 20.6%. Moreover, shares of the company have decreased marginally on a YTD basis, compared to SPX's 9.6% return. More News from Barchart Warren Buffett Warns Investing At 'Too-High Purchase Price' Even for 'an Excellent Company' Can Undo a Decade of Smart Investing BitMine Immersion Now Holds 1.15 Million Ethereum Tokens. Should You Buy BMNR Stock Here? Why Archer Aviation's (ACHR) Post-Earnings Tailspin Looks Like a Favorably Mispriced Opportunity Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Looking closer, the fertilizer maker stock has outpaced the Materials Select Sector SPDR Fund's (XLB) marginal rise over the past 52 weeks. Despite reporting better-than-expected Q2 2025 net income of $2.37 and revenue of $1.9 billion on Aug. 6, CF Industries' shares fell 7.8% the next day. Its gross margin fell to 39.9% due to higher natural gas costs of $3.36/MMBtu. Investors were also cautious about the company's rising capital expenditures, now projected at $800 million - 900 million for 2025, including $300–$400 million for the Blue Point joint venture, and the impact of consolidating JV expenses. Additionally, the ammonia segment's gross margin per ton dropped to $125, and the UAN segment's adjusted gross margin percentage slipped to 51.7%, raising concerns about margin compression despite higher sales. For the current fiscal year, ending in December 2025, analysts expect CF's EPS to grow 8.2% year-over-year to $7.29. The company's earnings surprise history is promising. It beat the consensus estimates in the last four quarters. Among the 16 analysts covering the stock, the consensus rating is a 'Hold.' That's based on three 'Strong Buy' ratings and 13 'Holds.' This configuration is less bullish than three months ago, with five 'Strong Buy' ratings on the stock. On Aug. 13, Barclays upgraded CF Industries to 'Overweight' from 'Equal Weight', raising its price target to $100, citing benefits from low-carbon ammonia initiatives and ongoing share repurchases. As of writing, the stock is trading below the mean price target of $93.47. The Street-high price target of $104 implies a modest potential upside of 23.2% from the current price levels. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
