Google and Microsoft's Disappointing Earnings

   Google and Microsoft boasted stronger cloud revenue, beating estimates. However, investors are now concerned as the costs of crafting AI capabilities climb.

   Google's capex (capital expenditure) soared 45% to $11 billion. Meanwhile, Microsoft also faced a 69% surge in capex, amounting to $11.5 billion.

   Both companies cautioned that this year's spending would be even greater.

   Microsoft's stock dipped by 1.6% and Google dropped 6.7%. Delivering on the sky-high expectations of artificial intelligence (AI) is no simple task.

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Fed: Rate Cuts Not Imminent

   The Federal Reserve is keeping rates steady between 5.25%-5.50%. Central bankers say inflation is still too high, despite some easing.

   They're willing to consider rate cuts, but only with more proof that inflation is on a steady decline towards the 2% target.

   Economic growth and employment are still solid, with strong job gains and a low unemployment rate.

   Investors expecting rate cuts were disappointed, leading to a dip in stocks and a rise in the dollar's value.

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Keys To A Smooth Tax Season

   April 15 is your deadline to file, so start early and gather your Social Security number, W-2s, 1099s, and any documents related to deductions or credits. Visit the IRS website for a complete checklist.

   Also, keep an eye out for the evolving child tax credit which could mean more money back for your family.

   Filing can be done online or on paper, but electronic filing is faster, taking about three weeks to process compared to six months for paper returns.

   Need help? The IRS frees up tax prep for anyone earning $79,000 or less. Plus, there are professionals and programs like VITA and TCE for the elderly that offer free assistance.

   Need more time? File an extension by October 15. But remember, if you owe money, pay an estimated amount before the April 15 deadline to dodge penalties and interest.

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Banks Brace for $560 Billion Blow

   New York Community Bancorp (NYCB) sent a stark warning to banks across the land.

   $560 billion in real estate loans coming due - and with deals cooling off, property values are taking a tumble.

   NYCB is slashing its dividend, and piling up cash reserves, which plunged its stock 38% in one day.

   Meanwhile, in Asia, Aozora Bank's bracing for a hit from their piece of the US property pie.

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