- S&P 5002,992.07-0.49%
- Dow 3026,935.07-0.59%
- Nasdaq8,117.67-0.80%
- Russell 20001,559.76-0.11%
- Crude Oil58.09-0.07%
- Gold1,524.40+1.21%
- Silver18.06+0.96%
- EUR/USD1.1030-0.0000%
- 10-Yr Bond1.7550-1.07%
- Vix15.32+9.04%
- GBP/USD1.2469-0.0000%
- USD/JPY107.51500.0000%
- BTC-USD10,043.85-1.30%
- FTSE 1007,344.92-0.16%
- Nikkei 22522,079.09+0.16%
- Investopedia
What Is the Size of the Average Retirement Nest Egg?
What is the size of the average retirement nest egg? A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in corporate-sponsored 401(k) plans at the end of 2018 was $95,600. As you might expect, young workers tend to have less money saved for retirement than older workers do, in part because their salaries are usually lower and they haven't had as many years to contribute to their retirement accounts.
- Bloomberg
Thomas Cook in Talks to Increase Size of Proposed Rescue Package
Thomas Cook Group Plc has told backers of its $1.1 billion rescue that it needs even more funds as it heads into the autumn season when travel firms spend more than they earn. The company said it will require another 200 million pounds ($251 million) on top of 900 million pounds already agreed in a bailout led by Fosun Tourism Group. Thomas Cook's shares fell as much as 28% after the company disclosed it had requested the extra cash.
- Barrons.com
American Express and 2 Other Companies Are Expected to Raise Their Dividends Next Week
Financial data firm (INFO) is expecting three well-known companies— (AXP)(ACN) and (LMT)—to declare dividend increases next week. American Express (ticker: AXP), a financial services company best known for its signature credit cards, currently pays a quarterly disbursement of 39 cents a share. Dominique DeRubeis, an analyst at IHS Markit, expects the company to boost that dividend to 42 cents a share.
- Investopedia
Avoid Paying Taxes on Social Security Income
With no inflation adjustment having been made to these benchmarks since 1983, they're now exceeded by most taxpayers who receive Social Security benefits and have other sources of income, too. A number of strategies, both before and after you retire, can limit the amount of tax you pay on Social Security benefits. Reducing your taxable income during the years in which you're drawing Social Security can have other benefits, too, such as lowering your Medicare premiums, which vary by income.
- MarketWatch
GM can’t afford to give those striking workers what they want
In the not-quite-a-week that General Motors workers have been striking, seeking better wages for less-tenured workers and trying to hang on to their unusually sweet deal on health insurance, there has been the usual choosing of sides. On Twitter, Rep. Alexandria Ocasio-Cortez has slammed GM (GM) as greedy during a time of what she called record profits, specifically after the auto maker said it would suspend payments for strikers' health insurance. In the New York Post, conservative economist Steve Malanga sided with the company, incongruously citing 10-year-old earnings reports that have little apparent connection to today's GM.
- MarketWatch
Maria Bartiromo talks artificial intelligence, the dot-com crash and why she’ll never retire
Maria Bartiromo has been covering business news for 30 years, and she's got her eye on the next big wave: artificial intelligence. The Fox Business Network anchor, who recently re-signed with the network for a multiyear deal, is releasing an hour-long investigative documentary about artificial intelligence. The segment, which has been in the works for a year now, includes interviews with chief executive officers of major companies including IBM (IBM) and Ford.
- Investor's Business Daily Video
MSFT Gaps Up On Share Buyback
The Dow stock backed off highs after topping a 141.78 buy point. Sentiment was bullish early after the company announced a $40 billion share buyback and raisied its quarterly dividend.
- Investopedia
Bank of America Stock Could Rally Into Year End
Bank of America Corporation (BAC) stock has been range bound through most of 2019, oscillating between support in the mid-$20s and resistance at $30. It has just lifted back to range resistance for the third time this year, once again raising hopes for a breakout that rewards patient shareholders. It's hard to rule out anything in a market environment that has been full of surprises, but a renewed downturn seems more likely, due to multiple headwinds. First and foremost, the Federal Reserve is reducing interest rates at a rapid pace, narrowing the overnight spread that commercial banks need to increase profits.
- InvestorPlace
5 Small Cap Stocks That Could Soar 200%
Because of this, you won't find many low-risk stocks with multi-bagger potential. Instead, all the stocks with multi-bagger potential are often also accompanied with big risks. Don't have the time to do all that analysis across hundreds of small cap stocks?
- Investopedia
What's the Average 401(k) Balance by Age?
It can be hard to determine how much you'll need, exactly, for your own post-career days, but finding out how others are planning—or not—can offer a benchmark for setting goals and milestones. k) Plan Balances by Generation The good news is that Americans have been making an effort to save more. According to Fidelity Investments, the financial services firm/brokerage that administers more than $7.4 trillion in assets, the average 401(k) plan balance reached $106,000 in the second quarter of 2019—a 2% increase from $104,000 in Q2 2018.
- Benzinga
Wabtec To Consolidate Boise And Erie Operations
Rail equipment manufacturer Wabtec (NYSE: WAB) has decided to close its MotivePower business unit in Boise, Idaho, as the company seeks to consolidate its manufacturing operations following its February merger with GE Transportation. Wabtec will move operations from Boise to an existing facility in Erie, Pennsylvania. GE Transportation considers Erie as one of its "global performance optimization centers," where the company manages its locomotive fleet and maintenance resources, and provides a hotline for locomotive maintenance issues.
- Barrons.com
What to Do With Your Cash Now That the Fed Has Cut Interest Rates
The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another. Interest rates on loans and deposits are typically influenced by the Federal Reserve's decisions vis-à-vis the federal funds rate.
- Quartz
Storing energy in compressed air could finally become cheap enough for the big time
Solar and wind power provide carbon-free electricity. While lithium-ion batteries have started to meet some of the need for storage, the metals needed to make them are not plentiful enough for large-scale energy hoarding. At Quartz, we've written about companies working on reversible sulfur power-plants, injecting water underground, running “refrigerators on steroids,” and using stacked concrete blocks—all with the purpose of storing excess renewable energy.
- MarketWatch
Billionaire investor on Elizabeth Warren as president: Market might not even open
The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won't be pretty. It would be a bear market and they go on for a year and go down 25%,” he said.
- Bloomberg
How IBM Is Investing in Human Capital
Ginni Rometty, International Business Machines Corp. chair, president and chief executive officer, discusses investing in people and developing their skills amid the rise of new technologies that may replace many jobs. She speaks with Bloomberg's Caroline Hyde on "Bloomberg Markets: The Close."
- MarketWatch
Roku’s stock rocked as analyst asks, ‘Is Roku broku?’
The streaming-media player's stock (ROKU) dropped 18.3% in very active afternoon trading, and has now shed 25.9% this week. This week's selloff was highlighted by Wednesday's 13.7% plunge, after Comcast Corp. (CMCSA) said it will start giving away its Xfinity Flex streaming-media player for free to those who subscribe to the cable operator's internet-only plans. On Friday, Pivotal Research analyst Jeff Wlodarczak sent a note to clients titled, “Is Roku Broku?,” as he started coverage of Roku with a sell rating and stock price target of $60, which is 45% below current levels.
- Reuters
Delaware judge says Tesla board must face trial over Musk's mega-pay package
A Delaware judge ruled on Friday that Tesla Inc's board of directors must defend at a trial Chief Executive Elon Musk's multibillion dollar pay package, which a shareholder lawsuit said unjustly enriched the head of the electric vehicle company. Tesla estimated the 2018 compensation package was worth $2.6 billion when it received stockholder approval in March 2018, although stock analysts at the time said it could be worth up to $70 billion if the company - which has yet to post an annual profit - grew quickly. The compensation award includes no salary or cash bonus for the Silicon Valley billionaire Musk, but sets rewards based on Tesla's market value rising to as much as $650 billion over the next decade.
- InvestorPlace
Which 5G Stocks will Be the Biggest Winners?
But as 5G takes the world by storm and ushers in a new technological revolution, there's about to be a WAY bigger opportunity than we could capture by simply buying Nokia stock. The infographic below shows how 5G compares to 4G… how that compared to 3G… and so on. Those Nokia flip-phones had their heyday back at 1G and 2G. Then 3G was what allowed Apple (NASDAQ:AAPL) to take the world by storm with the iPhone.
- Bloomberg
Repo Squeeze Has Upset Funding Markets. It’s About to Get Worse
Thursday's Treasury bill sales flopped as investors demanded extra yield to be rewarded for tying up cash. In currency swap markets, handing over yen in return for dollars for one week -- a time period which covers the crucial month end -- now costs you the equivalent of 2.4% on an annualized basis. Finally, the spread between U.S. Treasuries and interest rate swaps reached a record low Wednesday.
- Investopedia
Retirement: What Happens If a Spouse Dies?
When thinking about retirement funds, you're probably most worried about having enough money to live comfortably. "Retirement accounts with ill-conceived beneficiary designations could potentially cost your family tens of thousands or even hundreds of thousands of dollars if done wrong," said Dan Stewart, CFA®, president, Revere Asset Management, Inc., Dallas, Texas. "Correct beneficiary designations are crucial for retirement plans, and there are a lot of pitfalls and mines to avoid when naming both the primary(s) and contingent beneficiary(s).
- TipRanks
HEXO Stock Could More Than Double in the Next 12 Months, Says Analyst
When MKM analyst Bill Kirk initiated coverage of Aurora Cannabis (ACB) with a "sell" rating yesterday, the company's low cash reserves ($238 million) relative to debt levels ($486 million) were high on the analyst's list of concerns. Fortunately, this is not a problem that HEXO Corp (HEXO) has. Blessed with a balance sheet replete with cash ($129 million) and little debt ($23 million) to offset it, HEXO is one Canadian cannabis company where a lack of cash is not an immediate concern.
- Bloomberg
Saudi Arabia Reveals Damage to Giant Khurais Oil Field
Saudi Aramco revealed the significant damage caused by aerial strikes on its Khurais oil field and Abqaiq crude-processing plant last weekend, and insisted that the sites will be back to pre-attack output levels by the end of the month. Aramco took reporters for a first look inside the facilities, where equipment was scorched and ruptured by the assault on Saturday. In one area lay a pile of debris -- a mess of oil melted to asphalt, twisted and charred metal grates, and pieces of fire hose -- that stank of tar.
- InvestorPlace
3 Top Stock Trades for Monday: ROKU, AMZN, S&P 500
Top Stock Trades for Tomorrow #1: ROKU We covered Roku (NASDAQ:ROKU) earlier this week, but given the drumming that it took Friday — down more than 20% at one point — I thought it was worth looking at again. Shares bounced on Thursday following a test of the 50-day moving average. However, they began Friday under pressure after Pivotal Research initiated the stock with a sell rating and $60 price target.
- Barrons.com
The Dow Fell 160 Points Because an Interim Trump-China Trade Deal Isn’t Doable
President Donald Trump said there is no need for a trade deal with China before the 2020 election. Chinese officials canceled their visit to farms in Montana. NFLX) stock (ticker: NFLX) plunged after the streaming giant's CEO warned of tough competition coming from (AAPL) (APPL) and (DIS) (DIS) starting in November.
- Investor's Business Daily
Top Investors: You'll Be Sorry If You Miss These Future-Building Growth Stocks
"We are in the early days of one of the most innovative times in history," said Patrick Kelly, who runs the $559 million Alger Focus Equity Fund (ALGRX). The fund's bets on innovation are reflected in holdings of leading growth stocks like Apple, Carvana, Visa and PayPal Holdings. Kelly and colleague Ankur Crawford hunt for innovative growth companies undergoing what they call positive dynamic change.
