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Rivers State governor, Siminialayi Fubara has accused his party, the Peoples Democratic Party, PDP, of failing the state.

Speaking on Thursday, June 27, the governor expressed disappointment at the party’s silence on the crisis between him and the FCT Minister, Nyesom Wike.

According to DailyPost, he said: “In our state today we are no longer doing party. We are doing a movement, so you don’t blame me if I don’t go to the side of the party too much.

The party has failed us here, so what we are doing here is to stand with our two legs on the soil of Rivers State, so that we can defend democracy.”

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Financial services stocks and cash are currently popular with US retail investors, according to a new report from trading and investing platform eToro.

In the company's latest Retail Investor Beat (RIB) report, released Wednesday, 54% of investors said they were holding financial services stocks, with technology close behind at 49%. Energy stocks (39%) and communications (36%) followed.

Last year's regional banking contagion, driven by the collapse of Silicon Valley Bank, has left financial-sector stocks such as Charles Schwab (SCHW), U.S. Bancorp (USB), and PNC Financial Services (PNC) trading below their pre-crisis levels, enticing value investors.

Technology stocks are an obvious target after the surge in generative artificial intelligence (AI) stocks, led by chipmaker Nvidia (NVDA). However, eToro's report indicates that some investors may fear that they have missed the boat, with 76% of U.S. investors reporting holding cash but 22% saying that they would up their bets in technology.

Crypto assets are popular among investors aged 18-34, with 26% saying they will increase their digital investment portfolio over other assets. Some of those younger investors are also getting their first tastes of negative market swings, with 63% saying they are more cautious after losses, compared with 22% of the 55-plus age range saying the same.

But the younger investors said they were more likely to buy on dips, at 43% compared with 16% of older investors. Despite a recent easing in U.S. inflation, 30% of investors said inflation was the biggest threat to their portfolio, followed by the economy (21%) and high interest rates (11%).

“With interest rates still elevated in the US, it’s no surprise that investors are leaning into cash assets for a solid risk-free return," eToro's U.S. investment analyst Bret Kenwell said. "Investors’ cash holdings puts them in a good place to take advantage of market opportunities when they arise,” he added.

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Nollywood actress Charity Nnaji has made mockery of her colleagues by revealing that none of the thespians Asaba city made it to Davido’s wedding.

She took to her social media page to ridicule over their non-attendance as she inferred that they belonged to the low class of celebrities by getting snubbed.

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Shares of Amazon (AMZN) rose nearly 4% on Wednesday, making the e-commerce giant the fifth U.S. company to reach a market capitalization of above $2 trillion.

Amazon's stock has been buoyed lately by surging spending on artificial intelligence and cloud computing, a field in which it commands significant market share alongside Microsoft (MSFT) and Alphabet (GOOGL). Bets that the Federal Reserve will cut interest rates later this year have given tech stocks a leg up, while Amazon's e-commerce business has held up despite the pressures of high inflation. 

Amazon was the fourth U.S. company to close above $1 trillion when it first did so in February 2020. Booking the second trillion has been slow going for the company, at least when compared with most of its mega-cap peers. 

It took Amazon 1,104 trading days, or more than four years, to add its second trillion dollars. Meanwhile, Alphabet’s second trillion took 1,075 days; Apple (AAPL) and Microsoft, the first companies to cross $2 trillion, both needed 516 days. And blowing them all out of the water was Nvidia (NVDA), which surged to $2 trillion from $1 trillion in just 180 days.

Amazon shares needed to close above $192.18 on Wednesday to clear the $2 trillion threshold. The stock finished up almost 4% at $193.61. Its intraday high was near $195.

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If you’re in the market for a single-family house and want to save a few bucks, you might want to try building a new one from scratch instead of buying an existing one.The median price for a newly built house sold in May was $417,400 according to the Census Bureau, while the median existing homes sold for $424,500, data from the National Association of Realtors showed. Existing homes costing more than new builds is a rare occurrence—it’s only happened in 14 months since 1968, most recently in 2021, and only twice since 1982. 

To be sure, the numbers aren’t 100% comparable—they’re gathered using different methodologies—but they do illustrate a trend. New home prices have fallen since peaking at a median $460,000 in October 2022, possibly because builders have tried to build smaller, cheaper houses that buyers can afford amid mortgage rates close to their highest in decades.

Meanwhile, existing home prices have been pushed to record highs as high mortgage rates have discouraged sellers from putting their houses on the market, restricting for-sale listings and keeping competition fierce.The fact that new homes are cheaper than used ones serves as “a sign of how contorted the housing market is,” Robert Frick, corporate economist with Navy Federal Credit Union, wrote in a commentary.

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