Americans’ “magic number” savings goal for retirement has increased by over 50% since 2020. But experts say the secret to building true wealth is having a high savings rate. When it comes to retirement, Americans have a new number in...
Americans plagued by surging prices over the past 20 months continue to face strain as the cost of everyday necessities remains elevated following a hotter-than-expected inflation reading in March. The Labor Department said Wednesday that the Consumer Price Index (CPI),...
Another hotter-than-expected inflation reading is fueling investor fears that the Federal Reserve will have to push back the number and timing of interest rate cuts this year. The Consumer Price Index (CPI) rose 3.5% over the prior year in March,...
As car prices moderate from a pandemic-era surge, insurance has pushed the cost of car ownership to the brink for many Americans. New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were...
Stocks and bonds dropped around the globe as solid economic readings and a rally in commodities spurred speculation that major central banks will keep interest rates higher for longer. In a revival of the “good news is bad news” trade,...
Inflation has crept into every part of Americans’ lives, including how much they now think they need to retire comfortably: a record $1.46 million, a study released on Tuesday said. That’s a 53% surge since the $951,000 target Americans reported...
Ratings agency S&P Global on Tuesday downgraded its outlooks for five regional U.S. banks to due to their commercial real estate (CRE) exposures, in a move likely to reignite investor concerns about the health of the sector. The ratings agency...
The stock market is at odds with what is going on in the economy, top economist David Rosenberg says. The latest market frenzy has shades of July 2007, when stocks were caught in a swift decline just three months later,...
When you’re planning for taxes, it’s helpful to know both your marginal tax rate and your effective tax rate. Marginal tax rate is the percentage you pay in taxes on the last dollar you earn, while effective tax rate is...
Inflation pressures remained persistent in February, as prices for shelter and gas rose, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) showed prices rose 0.4% over the previous month...
The mood was practically giddy when the heads of two regional banks hosted a town hall in the spring of 2021. The industry’s long drought in mergers was ending, and two lenders below the public’s radar, New York Community Bancorp...
The S&P 500 closed slightly lower on Monday after a choppy trading day as investors took a pause ahead of economic data and Fed Chair Jerome Powell’s congressional testimony. Apple closed down 2.5% following a $2-billion EU antitrust fine for...
Tech ETFs saw massive inflows of over $17 billion last year, according to VettaFi. However, Financial Futurist Dave Nadig, says many are “overdone” in mega-caps like Nvidia (NVDA) and Meta (META) which drive gains. He warns of “concentration risks,” noting...
Pandemic disruptions may have muddled the measurement of home prices in inflation data. That could complicate the Fed’s course on interest rates. The Federal Reserve may have a housing problem. At the very least, it has a housing riddle. Overall...
The U.S. Federal Reserve will cut the federal funds rate in June, according to a slim majority of economists polled by Reuters, who also said the greater risk was the first rate cut would come later than forecast rather than...
