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  • I’m 62, unemployed, living off my savings and waiting on Social Security — ‘Can I go fishing for the next 25 years and forget about work?’
    Business
    MarketWatch

    I’m 62, unemployed, living off my savings and waiting on Social Security — ‘Can I go fishing for the next 25 years and forget about work?’

    See: I’m 40, and a single, military dad of 2; I have rental income, $100K in retirement savings and expect at least $3K a month in retirement — what am I missing? If the level of expenses you provided is accurate, coupled with moderate inflation and an estimated investment growth rate of net 6% to 6.5%, your strategy should be able to hold you over until Social Security and then some, said Brian Robinson, a certified financial planner and partner at advisory firm SharpePoint. “There are enough assets with different taxable circumstances that, if allocated correctly and in the correct types of vehicles, will achieve a sustained retirement through at least age 90,” Robinson said.

  • Fed is about to shift gears, but this time it may be different
    Business
    Reuters

    Fed is about to shift gears, but this time it may be different

    Federal Reserve officials, increasingly confident the U.S. economy is recovering fast from the pandemic-induced recession, have begun telegraphing an exit from the central bank's extraordinarily easy monetary policy that so far is smoother and signaled to be speedier than when the reins were tightened after the last crisis. Though policymakers have yet to agree on a plan, most expect that by the end of 2023 they will have raised the Fed's benchmark short-term interest rate at least twice from the current near-zero level, forecasts published by the central bank on Wednesday show. And though the Fed made no forecasts about its $120 billion monthly bond-buying program - which, along with rock-bottom interest rates, is keeping borrowing costs low and supporting economic growth - policymakers have said they will phase out the program before they begin raising rates.

  • The real culprit for the selloff in the stock market? Hint: It wasn’t the Fed
    Business
    MarketWatch

    The real culprit for the selloff in the stock market? Hint: It wasn’t the Fed

    The Federal Reserve was just the spark; the tinder was the excessive bullishness of market-timing traders

  • 'Quadruple witching' Friday to see $818 billion single stock options expiration - Goldman
    Business
    Reuters

    'Quadruple witching' Friday to see $818 billion single stock options expiration - Goldman

    A near-record dollar amount of single stock equity options -totaling $818 billion - is set to expire at the close of trading on Friday afternoon, potentially driving sharp moves in some stocks throughout the day, Goldman Sachs analysts wrote. A recent surge in interest in options trading, fueled in part by droves of retail traders looking to place wagers on the swings in so-called meme stocks such as GameStop Corp and AMC Entertainment Holdings, has boosted trading in U.S. single stock options to record highs this year. Single stock open interest now stands at nearly $3 trillion in notional terms, close to the highest level since Jan. 15, according to the report, which was authored by analysts Vishal Vivek and John Marshall and published on Friday morning.