Dear Friend,
Amex is in hot water again—this time, it’s a $230 million fine for sneaky sales tactics targeting small businesses.
Meanwhile, Trump’s gearing up to throw tariffs around like confetti, Kohl’s is closing stores faster than you can say “clearance sale,” and retiring abroad is looking like the ultimate budget hack.
Oh, and if you missed out on that 2021 stimulus check, the IRS might still have $1,400 with your name on it.
Don’t wait—dive into this edition of the Everlasting Wealth Insider Report for all the juicy details!
Jeremy Blossom
Editor in Chief, Everlasting Wealth
MARKET HEADLINES
📱President-elect Trump is reportedly exploring ways to delay or overturn TikTok’s U.S. ban, sending Meta and Snap shares down as uncertainty over the app’s future persists amidst bipartisan security concerns.
💊 UnitedHealth’s stock fell sharply after disappointing revenue and rising medical costs signaled ongoing sector-wide challenges, compounded by public and political scrutiny over its role in the healthcare system.
🏭 Manufacturing earnings, starting with Fastenal, may offer a glimpse of recovery in a struggling sector, with new orders rising and optimism building despite prolonged industrial challenges.
🚗 Tesla stock remains volatile as it searches for new growth drivers like licensing its self-driving technology or humanoid robots, while risks like EV credit repeal and slowing demand weigh on the outlook.
💼 Treasury Secretary nominee Scott Bessent defended Trump’s aggressive economic strategy, including tariffs and tax cuts, while emphasizing Main Street priorities and fiscal responsibility in a Senate hearing.
Amex Slapped with $230 Million in Fines for Deceptive Sales Practices
American Express will pay $230 million in fines for deceptive sales tactics targeting small-business customers, including misrepresenting card rewards, checking credit reports without consent, and using fake employer identification numbers to inflate sign-ups.
These aggressive practices stemmed from efforts to retain Costco customers after their partnership ended in 2016 and were fueled by high sales targets and hefty commissions.
Investigations by the DOJ and other regulators matched earlier Wall Street Journal reports, with Amex admitting the problems persisted until at least 2021.
While the company claims it has disciplined staff and revamped its training, this is part of a troubling pattern, as Amex also paid $15 million in 2023 for similar violations.
STOCKS TO WATCH
↗️ Rivian Automotive: The EV maker secured a $6.6 billion loan agreement with the U.S. Department of Energy to help build a new facility in Georgia. Shares climbed over 3% premarket.
↘️ Nintendo: The gaming giant’s shares dropped more than 4% in Asia after disappointing investors with vague details about the much-anticipated successor to its Switch console.
↗️ Glencore; Rio Tinto: Shares of both miners rose in London following reports of early-stage merger talks. Glencore gained nearly 3%, while Rio Tinto added 1.6%.
🔎 State Street, Regions Financial, and Citizens Financial: These financial firms are set to release earnings reports ahead of the market opening.
↘️ J.B. Hunt Transport Services: Despite reporting higher profits, the trucking company saw a drop in revenue, leading to a decline in its shares during off-hours trading.
↗️ Qorvo: The chip maker’s shares rose in after-hours trading following news that activist investor Starboard Value had acquired a 7.7% stake. Other chipmakers, like Nvidia and Broadcom, also saw gains of over 1%.
This Day in the Markets
📈 On this day in 1906, the Dow Jones Industrial Average reached a significant milestone by closing above 100 points for the first time in its history, finishing the trading session at 103.00, symbolizing the remarkable economic expansion and industrial growth of the early 20th century as the United States solidified its position as a global economic powerhouse.
STOCK PICK OF THE WEEK
Weiss Research
Trump’s Crypto Bull Market: Is Bitcoin Just the Beginning?
Donald Trump is America’s first crypto president.
Bitcoin jumped 9% the day after his election … and is up more than 40% since.
But America’s top crypto expert, Juan Villaverde, says this is just the beginning.
Juan’s called the top and bottom of every crypto bull market since 2012.
And he says 2025 could be the greatest bull market in crypto history.
He believes Bitcoin will go to $150,000 — or more.
But there’s one coin he thinks could go even higher … especially now that Trump has taken office.
In fact, this coin could be boosted by one of his first Executive Orders.
It’s part of Trump’s special Project Crypto.
His plan to make America “the crypto capital of the planet.”
This could be his favorite coin.
And it’s definitely one of his vice president’s favorites.
Click here to find out more about the coin that might be the Trump team’s favorite.
ECONOMY
Trump’s Tariff Plan Could Spark a Trade War—and Markets May Not Be Ready
Bad news on the tax front—early filers are seeing way smaller refunds this year, with the average check down to $1,395 from $1,963 last year.
Fewer people are filing so far, and the late start to the tax season isn’t helping.
Plus, if you’re expecting a bigger refund, don’t hold your breath—it’s looking pretty bleak.
Even though the IRS is testing a new Direct File program to help low-income folks, it’s only available in 12 states.
To top it off, some people in disaster-hit areas have to wait even longer to file. Not exactly a great start to tax season!
ECONOMY HEADLINES
🚚 As the freight recession shows signs of easing, analysts highlight opportunities in self-help transport companies like C.H. Robinson, Saia, and XPO, while cautioning against overvalued truck and rail stocks affected by tariff uncertainties.
🛑 President-elect Trump plans a “shock and awe” campaign of executive orders targeting immigration, trade, energy, and government efficiency, with investors eyeing potential impacts on markets and industries.
🏠 Trump’s potential plan to privatize Fannie Mae and Freddie Mac could disrupt housing and bond markets, raising mortgage rates and sparking investor debate over the risks and benefits of removing government backing.
🛢️ Biden’s late-term sanctions targeting Russia’s oil exports leave Trump poised to leverage them for geopolitical or economic gains, potentially impacting global oil prices and U.S. domestic production.
🦠 The CDC now recommends testing all hospitalized flu patients for H5N1 bird flu as untraceable human cases emerge, prompting enhanced pandemic preparedness despite a low immediate public health risk.
BUSINESS
Kohl’s Closing 27 Stores by April as Struggles Continue
Kohl’s is shutting down 27 underperforming stores across 15 states by April, along with an e-commerce fulfillment center in California, as part of its efforts to stabilize the business.
The closures represent a small fraction of its 1,150-store fleet, which the retailer insists remains “healthy and strong.”
The decision follows declining sales and the resignation of CEO Tom Kingsbury earlier this week.
The affected locations span states like California, Texas, Illinois, and Georgia, with employees offered the chance to apply for other roles or accept severance packages.
Kohl’s says the closures are part of a long-term growth strategy, but with disappointing financial results and evolving retail trends, the moves highlight the challenges the company faces in a competitive market.
RETIREMENT
Retiring Abroad: How One American Found Financial Freedom in Malaysia
Andrew Taylor, 70, is part of a growing trend of Americans retiring abroad to escape the rising costs of living in the U.S.
A decade ago, he left Washington, D.C., for Malaysia, where he now lives comfortably in a two-bedroom condo in Kuala Lumpur for just $620 a month.
On a $2,500 monthly budget, he enjoys a quality of life that would have been impossible back home—complete with affordable healthcare, a safe environment, and amenities like a pool and gym.
Taylor’s story underscores how retiring overseas can be a viable solution for those facing financial pressures in the U.S., where many older adults are unable to stop working due to a lack of savings.
While it may not be for everyone, especially those with close family ties, retiring abroad could offer significant financial relief and a new lease on life for those willing to explore options beyond American borders.
Trivia
Which American entrepreneur is credited with revolutionizing the automotive industry by introducing assembly line production, significantly lowering the cost of cars?
A. Andrew Carnegie
B. Thomas Edison
C. Henry Ford
D. John D. Rockefeller
E. Cornelius Vanderbilt
Scroll for the answer
TAXES
Final Round of Stimulus Checks: Are You Eligible for the 2021 Recovery Rebate?
The IRS is sending out $2.4 billion in stimulus payments to about one million Americans who were eligible for the 2021 Recovery Rebate Credit but missed out.
Worth up to $1,400 per person—and more for those with dependents—the payments will be delivered by the end of January, either by direct deposit or paper check, with no action required.
To qualify, your 2021 adjusted gross income must be under $80,000 for single filers, $120,000 for heads of household, or $160,000 for married couples filing jointly, and the IRS will deduct any third stimulus payment you already received.
You may also be eligible if your income dropped in 2021, you had a baby, adopted a child, or could no longer be claimed as someone else’s dependent.
Check your IRS online account to confirm your payment history and see if you’re due this final round of stimulus cash!
Answer
Which American entrepreneur is credited with revolutionizing the automotive industry by introducing assembly line production, significantly lowering the cost of cars?
C. Henry Ford
Henry Ford transformed the automotive industry with his introduction of the assembly line in 1913.
This innovation drastically reduced production times and costs, making automobiles affordable for the average American.
Ford’s Model T became a symbol of industrial progress and economic democratization.
His approach to mass production influenced countless industries, reshaping modern manufacturing and labor practices worldwide.
